yes it is competing. but if scZC is only $0.006/scZC vs $340/scBTC and ppl like me like perfect anonymity but don't want to pay $340/scBTC, i will buy the $0.006/scZC with fiat on an exchange.
and once scZC establishes a value, miners will be encouraged to direct mine or MM.
and once scZC establishes a value, miners will be encouraged to direct mine or MM.
So finally you admit that miners will not care to mine or MM a shitsidecoin with no market acceptance/value.
so instead of giving me a rational argument about why my above scenario is wrong, you'd rather deflect the issue?
any nowhere did i say that miners will not care to mine or MM this scZC. i said the opposite, they would be encouraged to mine or MM it.
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Therefore you propose that some users will prefer storing their value in a sideshitcoin that is more volatile, less risk-averse, less secure and has no distinct feature.
the scBTC have
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btw you can buy Monero right now, perfect anonymity, and you only have to pay a fraction of BTC's price, a real bargain! don't lose your chance!