I've been digging into XMR a little bit more, the privacy layer seems interesting, I have to dig in more but a couple things stand out to me.
No max cap -- this essentially makes XMR a FIAT crypto analog, there is no protection against inflation.
The value exchanged/store (e.g. USD to XMR) could implode at anytime. This is a red flag for me.
XMR as a medium of exchange is interesting though, but no different than you and I exchanging/bartering any form of digital good (game items, digital book w/ password, a service, ...). However, we both need to agree that XMR is the medium of exchange.
Grayscale XMR trust -- imo no institution would ever get involved with 'privacy coin' unless there was some way to satisfy regulatory requirements. Something is off on this one. Once you pay for something using XMR, and that business is regulated, you've lost your privacy.
What do you think?
I think the only solution to privacy in this 21st century world is the barter system ... everything else is too easy to track. Once the Gov has it's sight on you, you're done. have you seen what Anons can do? :)
To address point 1, XMR is disinflationary, where at the end of it's mining cycle, instead of miners getting exclusively fees, they also get .3 XMR per block, or around 79 thousand new XMR yearly. Given this is a permanently fixed block reward, and current supply is already 17-18 million XMR, inflation would be rather small annually.
The only thing that has worth is physical. Pay me with pretend digital bit coin when I need water, bullets or food? Bitcoin is digital which means someone somewhere can wipe it out in some keystrokes. Gold, silver, lead, powder, toilet paper, etc., are the currency, plus bartering. This is if the shit really hits the fan. I’ll hold on my physicals thank you
'money' will have a limited spending timefreame, it expires. Which means spend it or lose it. And there will be limits on how much you can buy of any one thing, or category of thing. If your social credit score isn't high enough you won't be allowed to buy anything in the tiered 'luxury' categories.
The result is that most of your money willl expire because you maxed out your 'essential needs' categories and haven't attended enough pro-marxist rallies to unlock the next category. Everyone will be paid 'the same' but only the elite with all categories unlocked will live above poverty.
Children dreaming of material wealth won't study hard building skills so they can work hard at a job providing goods and services society needs, but instead will budget their time to attend all the rallies, and get noticed cheering loufly in the custome t-shirt and sign they made praising dear leader so they can inch closer to unlocking the next level they can spend money in.
The next kids will dream about having treasonous parents to turn in because that's how the world works and how you get ahead. They'll form school clubs reading marx and forming political councils for early social credits. They'll choose the majors that net them the most, and we aren't all cut out to be be engineers, but every company needs political watchdogs and studying political doctrine is a shortcut to success. Free thinking men will be reigned in because women want powerful successful men, and the only examples of those are strong political figures, so as always men will become what the women want.
This is how the world works.
They won't know it can be any other way.
Anyone who tried to tell them otherwise was turned in for credit long ago.
So would the next step be the government controlling you even being able to use your digital money if you misbehaved on the Internet?
Exactly
I've been digging into XMR a little bit more, the privacy layer seems interesting, I have to dig in more but a couple things stand out to me.
The value exchanged/store (e.g. USD to XMR) could implode at anytime. This is a red flag for me.
XMR as a medium of exchange is interesting though, but no different than you and I exchanging/bartering any form of digital good (game items, digital book w/ password, a service, ...). However, we both need to agree that XMR is the medium of exchange.
What do you think?
I think the only solution to privacy in this 21st century world is the barter system ... everything else is too easy to track. Once the Gov has it's sight on you, you're done. have you seen what Anons can do? :)
Monero is crap to work with. No native Ledger app. You have to use and external monero application to get your coins.
To address point 1, XMR is disinflationary, where at the end of it's mining cycle, instead of miners getting exclusively fees, they also get .3 XMR per block, or around 79 thousand new XMR yearly. Given this is a permanently fixed block reward, and current supply is already 17-18 million XMR, inflation would be rather small annually.
The only thing that has worth is physical. Pay me with pretend digital bit coin when I need water, bullets or food? Bitcoin is digital which means someone somewhere can wipe it out in some keystrokes. Gold, silver, lead, powder, toilet paper, etc., are the currency, plus bartering. This is if the shit really hits the fan. I’ll hold on my physicals thank you
If SHTF, no doubt. I’ll trade you 3 rolls of tp for your chicken. Best offer I can give. :)
In the meantime, the dollar is debasing, meaning you get to buy LESS tp, ammo, gold, etc.
But really … if shit smashes the fan and flutters in all directions, gold is worthless. Ammo, food, medicine will be worth far more.
'money' will have a limited spending timefreame, it expires. Which means spend it or lose it. And there will be limits on how much you can buy of any one thing, or category of thing. If your social credit score isn't high enough you won't be allowed to buy anything in the tiered 'luxury' categories.
The result is that most of your money willl expire because you maxed out your 'essential needs' categories and haven't attended enough pro-marxist rallies to unlock the next category. Everyone will be paid 'the same' but only the elite with all categories unlocked will live above poverty.
Children dreaming of material wealth won't study hard building skills so they can work hard at a job providing goods and services society needs, but instead will budget their time to attend all the rallies, and get noticed cheering loufly in the custome t-shirt and sign they made praising dear leader so they can inch closer to unlocking the next level they can spend money in.
I could go on, I won't.
Thanks for the nightmares tonight.
Wake me up when its 1986.
Kids accept masks.
They can't imagine flying without the TSA.
The next kids will dream about having treasonous parents to turn in because that's how the world works and how you get ahead. They'll form school clubs reading marx and forming political councils for early social credits. They'll choose the majors that net them the most, and we aren't all cut out to be be engineers, but every company needs political watchdogs and studying political doctrine is a shortcut to success. Free thinking men will be reigned in because women want powerful successful men, and the only examples of those are strong political figures, so as always men will become what the women want.
This is how the world works.
They won't know it can be any other way.
Anyone who tried to tell them otherwise was turned in for credit long ago.
Welcome to 1986.
Yes. Remember kamal Harris & juicy's new version of the anti lynching bill that would apply to social media posts they didn't like?