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
Only if you can protect it. My issue is location. If SHTF I would likely feel the need to leave town and go someplace rural that probably doesn't want me along with millions of others. Those rural places are surely armed but so are the people fleeing to them so there is going to be a turf battle.
I think the mountainous people will be fine but those just off a highway (especially farmers) within 100 miles of a large city are going to be overrun.
You have good points that I discussed with a building engineer that is trading on Robin Hood. His points were bullets, vs. mine being gold. History has shown that gold never looses its value by much. Remember I may be able to buy my mercenaries and my food, or I can take them with bullets and risk being meat. It’s a never ending debate. Some will win from both sides. But as long as we have trees we have toilet paper, as long as we have rain, we have water, as long as we have gold, we have wealth. Still up for debate fren
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.
Only if you can protect it. My issue is location. If SHTF I would likely feel the need to leave town and go someplace rural that probably doesn't want me along with millions of others. Those rural places are surely armed but so are the people fleeing to them so there is going to be a turf battle.
I think the mountainous people will be fine but those just off a highway (especially farmers) within 100 miles of a large city are going to be overrun.
You have good points that I discussed with a building engineer that is trading on Robin Hood. His points were bullets, vs. mine being gold. History has shown that gold never looses its value by much. Remember I may be able to buy my mercenaries and my food, or I can take them with bullets and risk being meat. It’s a never ending debate. Some will win from both sides. But as long as we have trees we have toilet paper, as long as we have rain, we have water, as long as we have gold, we have wealth. Still up for debate fren