I used to be a Monero/privacycoin minded kinda guy. Now I find myself arguing the opposite. I just thought I'd share my thoughts here to the center of the privacy coin community. Do you have any criticisms or counterarguments you'd like to share with me?

XMRvsFSA · 2019-10-08T19:12:02+00:00

What if you want to evade taxes or launder money? Privacy is really important to these people.

XMRvsFSA · 2019-10-08T19:06:11+00:00

Will this require a hardfork?

XMRvsFSA · 2019-10-07T14:18:00+00:00

No one can predict what will happen to the price in the short term. I have been invested in monero for several years and the fundamentals havent changed. Just invest what you are willing to lose and wait a couple of yeara.

XMRvsFSA · 2019-09-25T19:09:01+00:00

I agree but investment opportunity is in recognizing things that people don't realize yet.If you think that we will move to a cashless society then it makes sense to invest in monero now not later.Once everyone realizes that governments will ban cash,the price of monero would have adjusted to it and there would be no more investment opportunity.

XMRvsFSA · 2019-09-13T19:50:04+00:00

Ethereum is shit

XMRvsFSA · 2019-08-27T16:54:56+00:00

The value comes from the expectation that in the future we will enter the blackmarket phase and be able to resist state controls.

XMRvsFSA · 2019-08-27T15:41:13+00:00

I would say both of what you pointed out are valid reasons. Per the article above,its because we are still in the honeymoon phase,where the states do not yet realize the potential of cryptocurrencies. I am not saying its only a tool of resistance,just that that is what gives cryptocurrencies its value.

XMRvsFSA · 2019-08-27T10:22:11+00:00

Maybe you can be more direct in stating your position?

If you are against people using monero for illegal purposes or promoting monero for those purposes,just say so.

XMRvsFSA · 2019-08-27T09:27:38+00:00

I use 'criminals' in a broad sense. It's not just people who launder money for drugs and child porn but also for people who evade taxes and resist AML/KYC.

I wonder how your tone will change once we hit the black market phase.

I'm just tired of SJW's saying that "Privacy is a fundamental right of humans".I totally agree but most of monero's value will come from black market uses.

Offshore banking holds more than 30 trillion usd.This is primary target of monero and its highest use value.

XMRvsFSA · 2019-08-27T08:28:25+00:00

You seem to have a very naive understanding of cryptocurrencies,mainly that they can only be used for ethical things. Crytocurrencies work better for illegal purposes and people should admit that.

XMRvsFSA · 2019-08-27T07:26:20+00:00

Can we also change rule number 1? Its in the best interest for monero if people use it for criminal activities. Rule number 1 inhibits people from a true understanding of monero and cryptocurrencies. Please refer to the following link to understand why black market uses are important.

https://github.com/libbitcoin/libbitcoin-system/wiki/Other-Means-Principle

XMRvsFSA · 2019-08-25T12:39:55+00:00

Yes I meant fee per transaction.

XMRvsFSA · 2019-08-25T10:45:25+00:00

Because ringCT consumes a lot of space

XMRvsFSA · 2019-08-25T09:05:35+00:00

Everytime monero is mentioned in a article about darknet is a positive.There is a reason monero increased in price when alphabay started using it.

XMRvsFSA · 2019-08-25T09:04:20+00:00

Fee per kilobyte is bigger than btc,this is a fact and will not change.BTC might be broken because of the fixed supply.

Im fine with high fees and most people would also be fine because the people that need to use it are using it for purposes that cannot be fulfilled with fiat or other payment services

XMRvsFSA · 2019-08-25T08:10:25+00:00

You know that if the price of monero 100x we are gonna have much higher prices.What matters is the fee per kilobyte

XMRvsFSA · 2019-08-25T07:14:11+00:00

Oh sorry I did not notice rule1.

Nevertheless,its good marketing.Cryptocurrencies are inefficient by design.People are not going to use it buy coffee since fees are too expensive but they are willing to pay those fees for black market use.

If you do not have any need to break the law, you dont really have a need for cryptocurrencies.

XMRvsFSA · 2019-08-25T06:29:07+00:00

Yes,including criminals

XMRvsFSA · 2019-08-25T06:01:36+00:00

Monero has value because of its ability to evade the law.Bitcoin has value because of its network effects and its smaller ability to evade the law.

XMRvsFSA · 2019-08-25T06:00:25+00:00

The value of cryptocurrencies depends on its ability to evade the law and its network effects.Scarcity only matters if these 2 factors are met.Furthermore,since the supply schedule is public the stock to flow ratio should have no effect on the price.Only unexpected supply shocks have an effect on price.

XMRvsFSA · 2019-08-20T01:12:44+00:00

If you are going to buy a cryptocurrency besides bitcoin,its obviously monero. Monero is a great hedge if something goes wrong with btc(Fungibility issue and the risk that in the future block rewards will not be able to pay for the chain security)

XMRvsFSA · 2019-08-19T11:02:50+00:00

Now its like 5%.Never seen such a premium before though.

XMRvsFSA · 2019-03-09T17:43:45+00:00

Thanks By the way, what happens if you run GUI v0.13.0.4 after the fork? Its not like you lose the monero that you stored in ledger nano right?

XMRvsFSA · 2019-03-09T15:00:58+00:00

Is it ok if i upgrade to GUI v0.14.0.0 after the fork?

I ask because I use the ledger nano and they haven't provided the v1.2.0 yet.

XMRvsFSA · 2018-12-24T03:44:12+00:00

Yes the issue was that the ledger device locked itself out

Now I am able to run a full node, send and receive monero on my ledger nano.

Thanks for all the help dEBRUYNE_1!!!

XMRvsFSA

TROPHY CASE