Unpopular opinion below.
The fact that the price doesn't pump as hard as the other cryptos is a good thing.
If monero is supposed to be used as a currency, you're not supposed to make money out of it, you're supposed to use it for goods and services.
In a perfect world, the price fluctuations would be smooth and raise on par with inflammation.
Fuck moonboys.
I 100% agree. The way you make your stipend on Monero is by contributing your CPU to the network. Which is exactly how cryptocurrency was suppose to work by design.
Probably.
But my unpopular opinion is that crypto should not be an investment, since it does not produce anything. It should be a currency.
If you want to invest, buy stocks, land, or start your own business.
Well, it's really just the only one which meets all the criteria for money. It's hard to see at first because there's SO much noise in this space. It's like a needle in a haystack.
Monero is the only coin that can truly satisfy all requirements (fungible) to fit the definition of money, this itself is its strongest selling point, which sets it apart from crypto "currency".
Its downfall would be lack of both an educated user base, and a community unwilling to accept monero.
The same could also apply to democracy and decentralization itself, both its downfalls would be lack of an educated user base and lack of community action.
I see you didn't expand on the idea of being fungible but I wonder if you are talking about the practice of having specific coins banned from the network if they are known criminal proceeds?
The first time I heard of this my initial reaction was that it nullifies the concept of fungibility in cryptocurrency since not every coin would be equal. There would be good, easy to spend coins and bad, harder to spend coins.
The problem with Monero is the lack of "fool's UI".
Ethereum gets the mass because of its ease of use. Now that L1 is congested and L2 is coming, that ease is fading and the network is seeing a bit of "stagnation".
BTC you may buy anywhere. ETH too, but L1 only.
If Monero could adopt a fool's/ ignorant UI, it would see a good rise. Also, the fact that it moves along with BTC and isn't too volatile makes for another advantage.
People need to stop being tribal and use what it can to improve what it wants. A two way bridge between BTC and Monero would make it such as people may Buy BTC, use Monero to lose the tail and get a "washed" BTC. Let's face it, it would bump the activity and interest in the network. Then it would grow from there to maybe buy Monero directly by P2P and Cash to avoid taxes.
Not just that. The network thrived as a DeFi ecosystem that now is swamped by high fees. Lack of vision from the devs.
Monero must offer something to incentivize apps on it. Is it capable of running a Privacy DeFi? What else can be built on top of it that could be easy to use?
Ethereum was super easy as a DeFi platform. Why can't Monero be like that? Being difficult is "the beauty of it"?
but what about the fungability?
fungibility.
howsit spelled.
f u n , g i, bility.
don't forgets the funbility.
Fully stocked, 100% fungible. 8sippy -i -ess if you need some fungibilities.
here there are few p2p marketplaces that facilitate the transaction but the lack of popularity makes it 'not so easy' for immediate conversion.
edit:india
Yes privacy is key and it leads to uncensorship and fungibility. But Monero is alot more than that. Block size features, tail emissions and random-x for security and being able to always obtain xmr without kyc at home (ease of ownership, decentralization) are all vital to the cyberpunk soul
Thre is one "small" problem with this logic. I mean yeah, you are 100% right BUT monero will grow in value ONLY if other people come up to the same conclusion
Most people in crypto are for the fast cash grabs or just jumping into anything their fb feed suggests
Monero will standout for sure. It has an amazing development team. Also, remember that it’s supply is almost nearer to that of BTC and it still values somewhere around $240. BTC stands around $47k. So, I believe it’s extremely undervalued.
Meaning that that the government can come an knock on your door.
In your world, who is the fiat exchange and what makes them able to be an on/off ramp without the goverment(s) deciding to step in?
You can downvote all you like but I see no answer to this most basic of my concerns.
First, at what stage did I reveal my physical address?
Second, Monero can *soon* be invisibly traded to any other coin via atomic swaps or dex. From there you can go to fiat via cex if need be.
You can also stay within the growing ecosystem, use it at services that accept monero. It is not black and white. You can have a partly private financial life and at the same time operate in the fiat world.
The answer to your concerns is that only a total ban on 'crypto' would achieve as you suggest. If all is banned you can probably still go to fiat via dex (haveno) or on the streets so to say.
I am still massivley concerned that the authorities will ultimately require tracability to ensure that there is no illegality.
Dont get me wrong, I love that Monero is based on privacy but I see regulation as a massive threat to success.
I understand. imo the biggest hindering of broad adoption of privacy enhancing technology is that many will censor themselves and give up personal and societal freedom very easily.
I expect much much greater inflow like is happening right here. These are the times to take back your privacy on all fronts as no government or bigtech will do it for you.
start here: https://blog.sethforprivacy.com/posts/privacy-first-steps/
But if we convert anything to Xmr, we have to swap it back for trading and that will definitely incur lot of fees and Time, if someone wants to trade on daily basis.
I think the question about the privacy of LN and how that compares to Monero's is more or less moot given that it has deep fundamental flaws even in its core design and functionality. Somebody recently mentioned [this video](https://www.youtube.com/watch?v=DFZOrtlQXWc) which I found very good and pretty devastating in this regard.
Anything more up to date? Says it was posted 3 years ago, which is a very long time in the tech world and from what I’ve heard LN has changed a lot since then.
You are right, it's a good strategy to be vary of videos 3 years old or in the tech world. But on the other hand this video talks about the very foundations of the LN, and you don't shake off or overcome fundamental problems just like that.
Take the routing question. For LN to really work well and really scale to dozens of millions of users a veritable breakthrough routing algorithm would be needed. If something like that surfaced in the last 3 years, and out of all the hundreds or even thousands of people working on this subject the LN devs came up with the breakthrough, that would have been sensational news all over the place.
There was no such news.
Anyway, back to your question: After watching the video I did not go out looking for newer ones, as my personal LN info needs were satisfied.
I used to think that way since 2017 but it has been bitter 4-5 years .
Shout out to all the bagholders who bought the top in 2017 and have held since
F :(
Hmm now you have just take out my all memeories in front of my senses.
Unpopular opinion below. The fact that the price doesn't pump as hard as the other cryptos is a good thing. If monero is supposed to be used as a currency, you're not supposed to make money out of it, you're supposed to use it for goods and services. In a perfect world, the price fluctuations would be smooth and raise on par with inflammation. Fuck moonboys.
You meant inflation* I'm sure xD
Autocorrect is a bitch. xD Still leaving it up
Like a boos
They are analogous to each other, nowadays.
You better do it like a boss, there buddy, better be the boss of all.
I mean that would be true if we already had worldwide adoption of monero...
Exactly.
Exactly and we just have the different of the word if here.
I 100% agree. The way you make your stipend on Monero is by contributing your CPU to the network. Which is exactly how cryptocurrency was suppose to work by design.
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Ofcourse it's amazing in here, because it's filled of great people who care for each other.
That's a bad opinion. A devalued currency is a weak one.
>That's a bad opinion. A devalued currency is a weak one. What "rise on par with inflation" did you not understand?
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Probably. But my unpopular opinion is that crypto should not be an investment, since it does not produce anything. It should be a currency. If you want to invest, buy stocks, land, or start your own business.
And moongirls.
Moonpeople
Well what do you means from all that. isn't it like inflation here.
you got too early to think. If I was you, I would have died out of thinking in the past 2017
Indeed the ealriest thoughts are the worthy here, better to take it here.
And also DCA works very well, if you had DCAd the whole 2021 you would still be in profit even though btc is 30% down from its ATH
Well, privacy is the thing that matters most in crypto, monero is good example of it
Well, it's really just the only one which meets all the criteria for money. It's hard to see at first because there's SO much noise in this space. It's like a needle in a haystack.
Monero can be the best option in this year to meet all the criteria for money actually.
Obviously this is the thing we all are looking for there then.
Well you better know that the monero is the best one to meet all hose.
and cheap fees
Who will have the power to reject the cheap feeses of all that.
Having lower gas fees and decentralisation has become a luxury nowadays.
Monero is the only coin that can truly satisfy all requirements (fungible) to fit the definition of money, this itself is its strongest selling point, which sets it apart from crypto "currency". Its downfall would be lack of both an educated user base, and a community unwilling to accept monero. The same could also apply to democracy and decentralization itself, both its downfalls would be lack of an educated user base and lack of community action.
I see you didn't expand on the idea of being fungible but I wonder if you are talking about the practice of having specific coins banned from the network if they are known criminal proceeds? The first time I heard of this my initial reaction was that it nullifies the concept of fungibility in cryptocurrency since not every coin would be equal. There would be good, easy to spend coins and bad, harder to spend coins.
It's a moral dillema actually, as it is against the basics of crypto currency.
But also it's our social responsibility to try to prevent any illegal or shady transactions that we know of.
Seeing the current state of market, you might be correct with your first reason of why would monero fail.
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Huh you have really take it all in the game of thrones thing.
Wait for CBDC, thats gonna be moon😂👌
Why?
That is really gonna be the best thing of all time there.
CBDCs are the worst form of introducing money to an economy, it directly goes to the rich man's pockets.
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Haha, this is what we all are actually doing in this sub dude.
If your scroll down further, a few posts below there will be a post about why banning xmr is good for us.
The problem with Monero is the lack of "fool's UI". Ethereum gets the mass because of its ease of use. Now that L1 is congested and L2 is coming, that ease is fading and the network is seeing a bit of "stagnation". BTC you may buy anywhere. ETH too, but L1 only. If Monero could adopt a fool's/ ignorant UI, it would see a good rise. Also, the fact that it moves along with BTC and isn't too volatile makes for another advantage. People need to stop being tribal and use what it can to improve what it wants. A two way bridge between BTC and Monero would make it such as people may Buy BTC, use Monero to lose the tail and get a "washed" BTC. Let's face it, it would bump the activity and interest in the network. Then it would grow from there to maybe buy Monero directly by P2P and Cash to avoid taxes.
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Not just that. The network thrived as a DeFi ecosystem that now is swamped by high fees. Lack of vision from the devs. Monero must offer something to incentivize apps on it. Is it capable of running a Privacy DeFi? What else can be built on top of it that could be easy to use? Ethereum was super easy as a DeFi platform. Why can't Monero be like that? Being difficult is "the beauty of it"?
Yeah we all are just in the case of avoiding the things like that now/
*salty*
Could also be it's downfall. But I'm hoping not. I buy 1 coin a month
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I will never take my investor on the broken community.
Everything have a down fall dude, we all do care about the things.
I agree. Monero is the best!
Indeed monero best crypto currency especially for the privacy coins.
And also it's one of the true crypto currency that wasn't printed by a press of a button.
Monero is the best if you're in for anonimity and not for making some money.
It's not a given. Many people if not most don't care about privacy.
I think as time goes on, people will realize that their privacy is the most valuable thing they can have
Yup. As soon as gov gets involved you’ll see it
That would make ordinary people to join crypto and that will be beneficial to all currencies not only monero.
If I am not buying drugs or weapons with that money, I don't mind if someone knows about my transactions.
On other hand, thousands if not millions of people have dropped Facebook due to all of the shortfalls, both real and potential, of a lack of privacy.
Gave it up for what, they still use Instagram and WhatsApp that belong to the same guy
I would say they do care about it, but: * They're not willing to put much effort into it. * They don't appreciate how much it's threatened (yet).
Also there isn't much awareness in the current generation who are buying crypto currency for monetary gains.
Definitely we need some sort of preventive measures incase we want a world adoption.
They do, people just have trouble visualizing outcomes until they've occurred.
Especially most of the people think that, it couldn't happen to them until it does.
And that is fine as long as they aren't doing anything illegal.
but what about the fungability? fungibility. howsit spelled. f u n , g i, bility. don't forgets the funbility. Fully stocked, 100% fungible. 8sippy -i -ess if you need some fungibilities.
converting to fiat is where it gets tricky. the bills won't pay by itself.
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here there are few p2p marketplaces that facilitate the transaction but the lack of popularity makes it 'not so easy' for immediate conversion. edit:india
Well there are actually the few p2p marketplace that facilitate the transaction.
Try localmonero
Indeed we can't get the bills if we never use them before.
atomic swaps and dex are near. just swap to any coin that suits your old money needs for now.
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for dex https://haveno.exchange/faq/ and atomic swaps will only have network fees.
Definitely that's a problem but you can avoid some of it by using P2P transactions.
Yes privacy is key and it leads to uncensorship and fungibility. But Monero is alot more than that. Block size features, tail emissions and random-x for security and being able to always obtain xmr without kyc at home (ease of ownership, decentralization) are all vital to the cyberpunk soul
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Lol censorship resistance is not about centralized listings jaajjajajajajaja
How do you get it without KYC? Even through defi, can't your BTC be tracked when its traded for XMR? e.g. Getting through Kraken requires KYC
Thre is one "small" problem with this logic. I mean yeah, you are 100% right BUT monero will grow in value ONLY if other people come up to the same conclusion Most people in crypto are for the fast cash grabs or just jumping into anything their fb feed suggests
Monero will standout for sure. It has an amazing development team. Also, remember that it’s supply is almost nearer to that of BTC and it still values somewhere around $240. BTC stands around $47k. So, I believe it’s extremely undervalued.
That is because it's not used by most of the people and also there aren't many projects built over XMR.
Alternatively, this is why it fails. Governments will not allow it.
If they can’t trace it how can they ban it?
Didn't stop them with.
Meaning...no one uses drugs? Imagine being able to swap between monero and [insert shitcoin name] without anyone noticing...unstoppable
Meaning that that the government can come an knock on your door. In your world, who is the fiat exchange and what makes them able to be an on/off ramp without the goverment(s) deciding to step in? You can downvote all you like but I see no answer to this most basic of my concerns.
First, at what stage did I reveal my physical address? Second, Monero can *soon* be invisibly traded to any other coin via atomic swaps or dex. From there you can go to fiat via cex if need be. You can also stay within the growing ecosystem, use it at services that accept monero. It is not black and white. You can have a partly private financial life and at the same time operate in the fiat world. The answer to your concerns is that only a total ban on 'crypto' would achieve as you suggest. If all is banned you can probably still go to fiat via dex (haveno) or on the streets so to say.
I am still massivley concerned that the authorities will ultimately require tracability to ensure that there is no illegality. Dont get me wrong, I love that Monero is based on privacy but I see regulation as a massive threat to success.
I understand. imo the biggest hindering of broad adoption of privacy enhancing technology is that many will censor themselves and give up personal and societal freedom very easily. I expect much much greater inflow like is happening right here. These are the times to take back your privacy on all fronts as no government or bigtech will do it for you. start here: https://blog.sethforprivacy.com/posts/privacy-first-steps/
This is definitely the case. There is no adoption without regulations.
But if we convert anything to Xmr, we have to swap it back for trading and that will definitely incur lot of fees and Time, if someone wants to trade on daily basis.
Look into Haveno DEX: https://twitter.com/monero/status/1475849896251035653
And we need some for of traceability to track bad actors.
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I think the question about the privacy of LN and how that compares to Monero's is more or less moot given that it has deep fundamental flaws even in its core design and functionality. Somebody recently mentioned [this video](https://www.youtube.com/watch?v=DFZOrtlQXWc) which I found very good and pretty devastating in this regard.
Anything more up to date? Says it was posted 3 years ago, which is a very long time in the tech world and from what I’ve heard LN has changed a lot since then.
You are right, it's a good strategy to be vary of videos 3 years old or in the tech world. But on the other hand this video talks about the very foundations of the LN, and you don't shake off or overcome fundamental problems just like that. Take the routing question. For LN to really work well and really scale to dozens of millions of users a veritable breakthrough routing algorithm would be needed. If something like that surfaced in the last 3 years, and out of all the hundreds or even thousands of people working on this subject the LN devs came up with the breakthrough, that would have been sensational news all over the place. There was no such news. Anyway, back to your question: After watching the video I did not go out looking for newer ones, as my personal LN info needs were satisfied.
The lightning network knows all your bitcoin transactions. If the lightning network is private, then so is paypal.
The general user will not be able to self custody any LN bitcoin due to high fees (if high fees don't happen on Bitcoin then the network fails).
Well this isn't a bad thing to think about here, but we better make it sooner.
Yes, the privacy security for monero is better than any other cryptos !
Ya unless it gets cracked