Monero’s Riccardo Spagni: Bitcoin Has Reached a Point of No Return for BTC as a Reserve Currency
Riccardo Spagni operates under the Twitter handle @fluffypony. Recently he has given a live interview with @chowbungaman to speak about MCC2019 and the future of BTC. He also is giving his reasons for recently purchasing all the LTC from Charlie Lee. The live interview replay is on YT, with a link at the bottom of this article.
Former CEO and co-founder of Monero, Riccardo Spagni, recently spoke live on Monero Talk about his views of the two topics listed above, among others. Speaking about Bitcoin, one question he was asked regarded the lack of support from BTC users for Monero, one of the leaders in digital currency.
According to fluffypony, Bitcoin users see BTC as the only viable cryptocurrency to survive in the coming future. They believe other currencies will dissolve into non-usable currencies that lack any real value. Spagni also believes that people tend to disagree on just about everything, another of the reasons BTC users don’t support Monero.
He stated, “…and human nature is that we can’t agree on anything.” Going on to say further, “…so I think the chances of the entirety of the world agreeing to use Bitcoin is like less than zero.”
Spagni instead sees a future that contains more than just Bitcoin as a stable used cryptocurrency. He also believes BTC isn’t far off from becoming a worldwide reserve currency. One of the reasons is the adequate levels of safety, like those seen with the Lightning Network. The network and other second layer protocols are why Spagni recently purchased all of Charlie Lee’s LTC. The leadman at Monero sees true value in the LTC cryptocurrency network.
Fluffypony also believes Monero will be one of the most used cryptocurrencies, especially by people seeking more privacy for their transactions. This touches on another subject, since Monero has been under the spotlight for allegedly being used to make illegal transactions. The accusations are something Spagni believes the currency can’t be held responsible for, even if they are true.
He then added that Monero is often used by larger corporations who use the crypto to move money without alarming other third parties. These are just a few reasons he sees potential for the cryptocurrency in the future. Lastly, regarding Bitcoin, it is the most sensible coin to be used as a reserve currency, something that Monero never was developed for. For those of you wanting to view the entire replay, the link is:
What do you think of the future of Monero? Leave your thoughts in the comments below.