full image - Repost: Monero being a better store of value than fiat while also being a good (cheap, fungible) medium of exchange is more important than competing with BTC on that title. Change my mind. (from Reddit.com, Monero being a better store of value than fiat while also being a good (cheap, fungible) medium of exchange is more important than competing with BTC on that title. Change my mind.)
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Fiat is a store of value (despite being bad at it)Also many Gold bugs and Bitcoin maxis have their own narratives, fiat currency in all of its forms and most prominently with USD is still the de facto store of value for most people around the world despite it's insufficient characteristics as money - mainly due to inflation. But it doesn't need to be perfect. It just needs to be better on average than other competing alternatives. So easy access, every day use (100% adoption) and UX seem to favor fiat over other alternatives.Fiat is the medium of exchangeSo far most of the world's transactions 99.9%+ take place in fiat currencies. And that will probably stay the same way for the foreseeable future. Which means cryptocurrencies or rather cryptoassets have been adopted partly as a speculative investment, partly as "store of value" - against inflating fiat currencies.After 15 years we still have not created a system that is able to compete with fiat mainstream adoption. Bitcoin with its limited supply is mainly competing with Gold. Other projects are trying to invent new stuff but are often money grabs, pump and dumps or outright scams. So what are the properties needed for a good cryptocurrency then?While BTC chose the route of becoming a store of value before becoming a mediocre? medium of exchange Monero went the other route. It's designed to be first a medium of exchange with properties that position itself between BTC and fiat currencies as a store of value.What is special about Monero:supply is currently smaller than BTC's and this will remain so until 2040 (https://ift.tt/j6vcd5f currently sits at 0.8% which is roughly half of BTC and Gold's inflation ratetransactions are fungible like cashdynamic blocksizes guarantee low fee transactions and throughputMonero is likely the only cryptocurrency that can eat into the market share of fiat currencies because it's mcuh better than fiat at being astore of value and medm of exchange and not because it is an arguable worse store of value than BTC, because supply is limited by time and not by a fixed number.
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