The Virtues of Monero vs The Virtues of BSV
As one of our past Anarchapulco speakers Dr. Daniel Kim put so eloquently, “Monero is what bitcoin noobs think they bought, which is fungible, digital, sound money.”
Within the cryptocurrency community, there are varying schools of thought regarding what the future of crypto should be and what was intended to be by Satoshi Nakamoto, bitcoin’s creator.
As a result of differing opinions within the development community, several forks of the bitcoin blockchain were created. The first fork, with the largest market capitalization, was Bitcoin cash.
Bitcoin Cash felt that certain aspects of bitcoin needed an overhaul while other things should remain the same.
Similarly, there is another crowd with a slightly different vision for bitcoin’s future who are in the BSV camp (a fork of Bitcoin Cash) and feel that Satoshi’s vision was almost flawless and that the only augmentations to his original idea should be things that enhance the efficiency of the currency, i.e. the lightning networks.
Then there are those who think that there were multiple facets of bitcoin which needed an overhaul and that it needed to be entirely redesigned.
Those are the people who favor Monero.
Of course, this is a very simplistic way of describing the dynamic and the arguments for and against each of these currencies, in reality, are highly nuanced.
Now, this is not to say that bitcoin or BSV isn’t valuable or doesn't have great use cases, but with Monero one major attractive attribute is that it is much more private. For instance, with BSV which is pseudonymous, transaction records are publicly visible on the blockchain, whereas, with Monero, you can only view your own personal transaction history while everyone else’s is hidden.
Quite a big difference, if you don’t want anyone tracking the movement of funds.
Somewhat paradoxically, the people who need Monero the most aren’t dark web-based personal defense salesmen or plant providers, but actually are regular, straight-edge, “squeaky-clean” people. The reason for this is because of the potential to be blamed for dealing with previously shady bitcoin users.
Meaning, innocent bitcoin users could, for instance, be labeled by governing authorities as ‘guilty by association” just for dealing with previously unscrupulous users or having their access to the crypto market effectively shut off after Coinbase closes their account for dealing with a dubious entity.
As Rafael covers; What Bitcoin, Bitcoin Cash, and BSV all tried doing was like changing a wheel on a car while it is in motion.
Monero came along and rebuilt the car at a standstill.
To hear Rafael’s take on the future of Monero and which cryptocurrencies function the best as digital cash vs which keep in line most with Satoshi’s vision check out this interview with Douglas Tuman of Monero Talk on the Crypto Vigilante Channel:
It’s a fact of life right now that we have to deal with authoritarian governments and most of us, to some degree at least, operate within the bankster’s/globalist’s financial system regularly. And it is getting worse and more tyrannical by the day.
Monero provides solutions that work both within the existing heinous financial framework through certain jurisdiction compliance options, but also simultaneously allows users to transact outside of it as well.
This is the beauty of Monero’s model – versatility and privacy.
To learn more about how to get started using Monero and investing in cryptocurrency, subscribe to the Crypto Vigilante on Youtube and be sure to watch the interview above.
And, if you’d like to sign up to the Crypto Vigilante newsletter we will be reopening it for subscriptions later this week. So stay tuned here.
As well, if you’d like to see Rafael Laverde’s full speech on this at the TDV Summit along with more than a dozen other presentations on surviving and prospering during this planned-demic, you can check them all out HERE.