op_CAT vs op_CTV vs XMR

Protocol Design
2

This is a reply from an economics point of view, contra Monero.

  1. Bitcoin can become cash (currency for the real economy).
  2. It is PRIMARILY held back by an economic issue, not a technical one. Monero has the same problem. Let’s call it volatility but there is more to it.
  3. I think the best way for bitcoin to become cash is a bitcoin based Chaumian ecash layer. Long story.
  4. Lightning is needed for the total system but is not ‘cash’ per se.
  5. Bitcoin-based ecash has blinded signatures, this gives great fungibility.
  6. No CTV needed (for this cash goal). If just for that, Core can just stay as is.

I am currently writing up the economic problem and a proposed solution which is already being developed. If interested, here are the first two chapters: Chapter 1: The Bitcoin Dilemma - by Hubertus Hofkirchner.