For the people that think monero should be used solely

Question

Monero XMR

glen 🔟

For the people that think monero should be used solely

as a currency and not as a security/asset, can y’all explain? In my opinion, Monero can be great at both

#cryptocurrency #english #xmr

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31.05.2024

12 ответов

38 просмотров

L

Although it's privacy features are pretty decent, it's too volatile for me to actually keep large sums of money in it. You can wake up one day and find it -30% of your net worth gone. Would rather hold some Gold/Fiat/stables and only use it when I need the privacy features.

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5 месяцев назад

Mafia Hunna

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Although it's privacy features are pretty decent, ...

Literally

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5 месяцев назад

glen 🔟 Автор вопроса

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Although it's privacy features are pretty decent, ...

On the contrary, I believe it’s less volatile than something such as Gold or big name stocks. Monero has seemed to have pretty decent price stability, and it’s attributed to organic supply/demand versus other assets which are highly speculative and manipulated

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5 месяцев назад

L

glen 🔟
On the contrary, I believe it’s less volatile than...

Pretty decent price stability? Lol you didn't see that drop from $140 to $100? If anything it's as volatile as BTC and sometimes worse. At the end of the day it's an ALTCOIN and you carry its inherited risks. Also it's not scalable. Fees are cheap but you gotta wait 20-30 min for just one transaction. It's insane even ETH is not this bad.

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5 месяцев назад

glen 🔟 Автор вопроса

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Pretty decent price stability? Lol you didn't see ...

I see your point. I did see the drop, but I also study price action of other assets damn near religiously. Most, if not all, assets experience a similar effect when faced with pressing news (in this case binance delisting). Comparing Monero to other Altcoins, i feel like it’s the best at what it does. Although admittedly im a xmr maxi (if it wasn’t already obvious lol)

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5 месяцев назад

glen 🔟 Автор вопроса

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Although it's privacy features are pretty decent, ...

Just curious though, since you wouldn’t put large sums of money in it- what’s the most amount of tokens you would hold for yourself long term? If amount is greater than 0

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5 месяцев назад

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glen 🔟
Just curious though, since you wouldn’t put large ...

I only use XMR when I was to hide transactions and move funds that I don't want the government to know in which wallets they are. But at the end of the process I wouldn't be holding a single XMR because it's an altcoin and too risky for me. I'd only consider holding large sums of XMR for investment purposes once there's a big dump so I can minimize the risk of it going lower than my entry price.

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5 месяцев назад

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glen 🔟
I see your point. I did see the drop, but I also s...

As a XMR Maxi, regarding it's privacy issues, if you want to do it properly it takes a LONG TIME. Companies like Chainalysis are be able to partly trace it if you don't do the transactions over a long period of time. What do you think about this

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5 месяцев назад

Roy

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Pretty decent price stability? Lol you didn't see ...

The dip from 140 to 100 was the best time to buy. Buy low, sell high!

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5 месяцев назад

Roy

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Pretty decent price stability? Lol you didn't see ...

I cannot confirm that, my last XMR transaction today was much faster and cheaper than a BTC transaction I made at the same time.

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5 месяцев назад