Damus
Hanshan · 6d
It raises the question of what is bitcoin without its massive hashrate. What is the value proposition there? The Monero Bros decided like 10 years ago that Bitcoin was already captured and that we n...
Sam Magner profile picture
Great question, something I've considered myself as well. Bitcoin is still Bitcoin without the massive hashrate, it's just a lot harder to defend and protect. That's why I believe the fully sovereign Bitcoiner is and individual who self custody's, runs a node and contributes hashrate through mining. That is what I'm seeing happen on the Blake2b chain by individuals. Yes, there have been attacks already, but they have been addressed swiftly and in the favor of maintaining first principles.

In contrasting that to Monero, yes it has a higher hashrate and market cap but it does not maintain the first principles of Bitcoin. The first being a fully auditable block chain where you can sum the UTXO and issuance to see if your coins are real, or if supply has been added. This is the biggest con with XMR. In addition, tail emissions are not a hard supply cap, and therefore not one of the first principles of Bitcoin.

XBT maintains the same UTXO set from the genesis block, fully auditable, and fixed supply. This gives it an advantage over XMR in my opinion. But it's like protecting an infant right now in a sea of sharks, a rogue miner could attempt to 51% attack the network hence why proposals for XBT mining to be DATUM exclusive are being passed around.
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