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Bitcoin [BTC] is too far along not to be a reserve currency, says Monero’s [XMR] Riccardo Spagni

Priya

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Bitcoin is too far along not to be a reserve currency, says Monero's [XMR] Riccardo Spagni
Source: Unsplash


Riccardo Spagni, the Co-founder of Tari and lead maintainer of Monero, recently spoke about Bitcoin [BTC] and Monero [XMR], in an interview with Monero Talk.

Spagni was asked why the Bitcoin community was not a big supporter of Monero, considering the fact that they are on a mission to create digital cash. To this, he stated that the people who believe that Bitcoin is the only thing that would exist and that everything else would fade into insignificance refuse to “acknowledge human nature.” He went on to state,

“[…] and human nature is that we just can’t we can’t agree on anything […] so I think the chances of the entirety of the world agreeing to use Bitcoin only is like less than zero. I don’t see a future where Bitcoin is the only digital currency that anyone ever uses[…]”

Spagni further stated that he imagines a world where Bitcoin is a global reserve currency, with the coin having sufficient privacy through things like the Lightning Network or other second layer protocols. This was followed by the developer stating that Monero would also exist, where the coin exists for situations where people want to transfer value more privately than Bitcoin. He added,

“[…] where multinational corporations want to move money around without tipping off their competitors that they’re moving money around you know where people in South American countries that are at risk of being kidnapped and extorted for their money are able to still receive this salary […]”

Fluffypony added that Monero would find its use case globally in a “very large way” and that Bitcoin was “too far along” not to be a reserve currency in the future. He said,

“I don’t think Monero particularly wants to try and fill that role, too much pressure. But, Monero has a big role to play in the future, at least, I believe so and that is not to diminish Monero’s say so future success but I think it will full a different role than Bitcoin.”





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

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