I hold 100% of my net worth in Monero, I make all my transactions in Monero, and am a die hard believer of Monero. I am willing to stay on the ship even if it sinks to zero because I don't want to live in a world where we don't have an electronic p2p cash system, and I am willing to lose my entire wealth fighting for this cause. I quite literally put my money where my mouth is. I do not own any fiat money.
I am also a big fan of fluffypony and am grateful for all the work he did on Monero, however I would like to challenge the claims he made regarding "Monero being a terrible investment" on Twitter.
First, I may be bias due to the facts stated above but if people want to use Monero as a currency (which I do everyday btw : all the food I eat, Amazon packages, electronics, the computer I'm using right now is all paid in Monero) then how can the market cap stay this low ?
If millions of people use Monero as a currency, as p2p cash, it seems unsustainable for the market cap to stay this low considering the XMR market cap will be lower than BTC for the next 20 *YEARS*.
The main argument that fluffypony provides for why Monero cannot go up in market cap is the following: "Monero cannot go up in value due to the tail emission and unlimited cap".
I would like to challenge this argument, by pointing out the fact that Ethereum has an unlimited cap and it's doing just well. Dogecoin, which is a memecoin with an unlimited cap, did a 200x within the space of 3 months.
If you bought Dogecoin in Dec 2020 and sold 4 months later you would've made more profit than someone who was holding bitcoin for 10 years. The last time Bitcoin did a 200x was in 2012.
I am suggesting that for Monero successfully work as a currency, it would be unsustainable for the market cap to be under $20b. It is simply way too low for the peer to peer cash of the Internet.