(no title)
ponymontana | 2 years ago
When someone forks monero, the new fork is called "monero" and all the small userbase moves over it. The old chain simply dies. No network-effect to resist changes because theres no network at all compared to bitcoin.
Same for all the crypto.
Its absurd to save money in monero or in all the crypto where someone can easily move the inexistent userbase and do hardforks. But if you cant save because the expected value of the cryptos over time is zero, what is the meaning of exchange these assets?
All crytpos that are not bitcoin (even monero) can only work on the informative asimmetry where some people ignore these facts and, scammed by promoters, holds these non-sense assets expecting returns that will never come. The promoters, instead, will make money dumping on them.
lawn|2 years ago
Whenever Monero upgrades to new consensus rules they indeed do so via a hardfork, but that only works because there's social consensus (both economic and mining wise). If the consensus would be to stay with the original rules, people would (and it has happened before).
Even in Bitcoin this works, and Bitcoin has even hardforked before! The difference is that in Bitcoin people want to stay on the original chain.
Keeping money in Monero is safe because you'll still keep the money after the hardfork, that's just how they work.
This is just Bitcoin maxi nonsense scary talk.