well, buried throughout all TPTB_need_war's bullshit is quite a bit of back and forth regarding Monero. my problem with it is pretty much as rocks outlined. it's an entirely new protocol. that by itself is not necessarily the problem but it is for network effects and confidence for a new form of money, imo. for instance, Bitcoin is open source and supposed to be adaptable to changing conditions, especially those hostile, so we've been told. if it fails to adapt to a threat like the 1MB choking of tx's then it cannot adapt and grow and will fail as a new form of money, imo. that's b/c it is unacceptable for the current network of investors who have stored their coins in cold storage to be expected to dig them out and transfer them to a totally new money on a different protocol like Monero. that would cause huge losses for us while huge gains for the early Monero adopters. great for them, horrible for us. in that scenario, i consider cryptocurrencies to be a failure as i would conclude that they are all then a form of Ponzi scheme. that doesn't mean it won't happen though but is the reason for the extreme resistance to it's adoption from the economic majority who are currently invested in Bitcoin.
and also for the constant pimping of Monero you see here in this thread.
I understand; nevertheless, don't you think there will be
another usable cryptocurrency apart from BTC? I don't support XMR will be it (even though I already have a position that certifies my curiosity and will
hopefully gratify my early confidence), but I really want to know, BTC is all you have afaic crypto?
The more competition the better, I did mine some XMR early so all this monero pumping just makes me feel good. In my book, the winner is the one with the most utility the biggest boost to utility is the number of end points in the network. The network that will grow the fastest will be the one with the most utility.
So at this time it's Bitcoin hat has the most utility, alts aren't a threat, there will be hacks that can leverage that network, there will be investment opportunities and price growth in alts but for now as I see it, it's Bitcoin, I've diversified my crypto investment but for the most part I've just helped distributed bitcoin to the late stage innovators at my experience - on the upside its growing the Bitcoin network.