Over the years we’ve seen hundreds of “valuation” posts and analyses, from useless to laughable. Despite being in crypto, now as a validator, I’m firmly in Peter Schiff’s camp: crypto coins have no inherent value.
Bitcoin is probably the worst offender, because it has the same inherent value as the rest (that is, zilch), but it’s worth (roughly) more than all the rest combined while lacking meaningful features. Yes, it’s (most?) resistant to censorship, but what good is that when you can’t move a satoshi without the fear of being tracked? It’s more than useless, which is probably why Twitter and the likes attempt to use it.
What about xx coin? Currently it’s not particularly useful (XX Messenger for MainNet is not currently available, but the first MainNet version is coming out within weeks) and the coin itself isn’t even freely traded. But let’s look at what lies ahead.
xx coin: the Free Speech Token ¶
I see xx coins as application use credits. Something like AWS cloud credits of the crypto world, useful for private messaging and transactions.
At this time xx coin messaging is private, while transactions are not yet private, but they will be.
Once private transactions are in place, as long as the network is around xx coin owners will have access to good censorship resistance with private communications. This will give them access to one of more valuable - if not the most valuable - digital services today: protected freedom of speech.
Competition ¶
I haven’t done a lot of research, but I think I understand the fundamentals.
High-level notes on possible competition:
- Google, Facebook and others: rest assured, they won’t launch anything that resembles xx coin
- Other projects: to be honest, I haven’t looked in depth and probably lack the technical ability to analyze the subtleties of various crypto architectures, so let us assume there are two-three projects out there that are just as good. But XX Network has a great core team, MainNet has been performing well, XX Messenger is weeks away and there are hundreds of validators. That is not as hard as developing unique crypto (which cMix has done), but takes time and isn’t easy.
- Community competition: it appears that XX Network took many legal and other precautions when setting things up. Like with the tech, I didn’t look at it closely and I don’t know how much public information is available in the first place, but it takes money and organization to run a project like this and I honestly doubt you could do it from the US or basket-case countries such as China or the EU. How easy is it to find a great team and set it uip like XX Network has done? Not very.
- Licensing: key code is released under the poisonous GPL v3.0 license. That’s an awful license, but as a coin holder I like it. Those who don’t like it can develop their own coin and release it under a permissive license. But they can’t reuse this code without making any improvements available for cherry-picking by XX Network developers.
Cancel this ¶
Let’s take a micro-detour and consider this quote:
Freedom of speech and expression has a long history that predates modern international human rights instruments.
Remember - I wrote about this in another post - freedom of speech is not based upon, and doesn’t require, “modern international human rights instruments”. It is a natural right and it exists anywhere, even where there are no governments. You don’t need a corrupt bureaucrat or UN official to grant you such rights, and you don’t need to give them the right to restrict it or take it away either. If anything, you should want to fire them and get your tax money back.
Because the world has fallen in exactly such a trap, even the US Constitution has been powerless to protect human rights. And don’t get me started on Third World basket cases such as the EU, the UK and China.
As an aside: I don’t like to refer to xx coin as “censorship-resistant” (although that’s what it is) because it sounds like it’s needed only in shitty countries. First, there’s censorship everywhere and second, it’s not the only or worst problem. There’s no privacy, there’s too much taxation and some places suffer from severe forms of collective derangement (North American wokeism) or financial repression (EU) that interferes with everyday life. So there’s a lot more to xx coin than just private texting.
Unlike human rights (which are free, that’s how you can easily tell privileges apart), services aren’t so there’s some cost to using the network which, given real-life circumstances explained above, currently seems unavoidable.
But assuming you need access to a digital free speech service (which aims to include the ability to privately transmit text, messages, code, and digital tokens), or want to have a handful of credits for “just in case” situations, you may want to own some. And should your friends or family need them, you will be able to send it to them in private.
That’s why you’d want to buy and hold ’em.
Inherently, there’s no value in the coin itself. We wouldn’t need any of this - I mean crypto coins or digital speech services - if central banks and governments did their job. But it is these organizations that give value to application tokens like xx coin.
We have a situation in which governments and central banks not only aren’t doing their job (that’s been a problem since forever) but are actively plundering and oppressing the very people who fund them, any why would they stop? Shut up and go get another booster shot!
In foreseable future people will be willing to spend some fiat to acquire application tokens that can protect their fundamental right to free speech and circumvent financial oppression. I thin xx coin is well positioned to be one of top tokens for that.
Cancel this, statists and wokeists!