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what monero services are needed?
(monero.town)
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this post was submitted on 30 Nov 2023
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Monero
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This is the lemmy community of Monero (XMR), a secure, private, untraceable currency that is open-source and freely available to all.
Wallets
Android (Cake Wallet) / (Monero.com)
iOS (Cake Wallet) / (Monero.com)
Instance tags for discoverability:
Monero, XMR, crypto, cryptocurrency
founded 1 year ago
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What is "monero?" That's a term I haven't heard before. But it sounds good to me - I guess?
https://www.getmonero.org/
Thanks for the info. I'm not up on cryptocurrency terms (obviously) but if it can work then it sounds great to me.
It really is great for everything online. For example this lemmy instance is 100% donation funded and hosted on a provider that accepts monero.
My only concern with monero (or any cryptocurrency) is, who is backing it with some sort of reserve assets. If it's not government backed then who or what is in place to guarantee it.
No one guarantees the dollar value, but if you think about it no one guarantees the price for other things either. Other currencies, gold, silver, commodities - everything has some volatility. Gold is valuable because it is rare, does not deteriorate and all pure gold is equal. Industrial use exists of course, but it is minor in the grand scheme of things. Good crypto can have similar properties as gold, with the added benefit of being usable even for small amounts. I'd strongly advice against trading and speculating on a higher dollar value, but topping of a wallet with a few dollars worth for spending can be very useful.
I'd still like to have a room full of gold bars in any case. But thanks for the information, it's very appreciated!