this post was submitted on 22 Jul 2024
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Monero
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This is the lemmy community of Monero (XMR), a secure, private, untraceable currency that is open-source and freely available to all.
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I have started to see BCH gaining more ground lately in general as the BTC narrative has begun collapsing.
I think BCH might be a good play going forward because many BTC holders will eventually jump ship and they are most likely not going to go to Monero but to BCH.
Of course Monero is superior but there is a large crowd that will not touch anything without the bitcoin label.
I think if people made the jump from BTC to BCH they're more likely to jump to XMR as switching is much cheaper and XMR is pretty much the private and fungibel version of BCH. Does that logic check out?
For sure many will jump to XMR, but I still think most cannot let go of "bitcoin". I do think that XMR will need some improvements in the scaling department though, as the stressnet experiment has showed that over ~500k TX per day nodes become pretty unstable.
Bitcoin is like gateway for real crypto (monero) like fiat is to bitcoin!