Hey there, folks. I'm trying to wrap my head around a couple things here now that I've gone through the grieving process regarding the US Dollar as a currency. Can someone correct or add to my current perspective on crypto and its future? I've come to see from lurking in this thread for a week or so that the Monero community has a deep code of ethics, and I believe I can learn a lot from you all.
BTC: As I've come to understand, BTC is a store of value / reserve currency on the surface, but more of a status coin. It's the big daddy marketed coin, but it is not private by default and so it can be traced due to the improvement of blockchain analysis and tracing methods over the years. Regardless, when the masses consider investing, the most accessible digital money is Bitcoin. A lot of dumb people will form the bedrock of its capital along with dumb institutional investors who are all playing tit for tat and sweating profusely as they eye eachother in mexican standoff fashion with other institutions to see who will hop the bandwagon, assuming others know something they don't and not wanting to be left behind in the corporate rush. Funny to see.
ETH: Ethereum and the current DeFi movement/narrative facilitates the idea of an experimental playground of creative applications and complicated side chains whose current value is bottlenecked by miners. There are many creative smart contract implementations, but they all seem to be in a mad rush of creating "skeleton backend code" consisting of code derived from existing projects with shoddy frontends compensated by quirky themes that have all been put together furiously for the purpose of laying claim to some future value capture and ecosystem. Of course, in believing these stories, the masses of dumb retail who are all "trying to become millionaires" will be providing liquidity with the hopes of possessing fractional stake in the amount of future value flowing through such infrastructure.
XMR: Monero is the real digital gold and the real high IQ play when it comes to a truly liberated, decentralized future. Nuff said, the proof is in the pudding. Reading about this has me literally giddy.
I want to be an honest copywriter for this space if possible to shed light on the ongoing cyber revolution, but first I must educate myself!
1) Please correct my views, especially on BTC and ETH. Is Eth actually something with immense value or are there too many constraints from the jump that prevent it from providing real value?
2) Will Monero ever have the kinds of creative DeFi applications as sidechains or is it more of a precious store of value like anonymous gold?
3) Which country is best for a boat trip? Which country has large, deep lakes to fish in?