5
pitching an idea
(monero.town)
This is the lemmy community of Monero (XMR), a secure, private, untraceable currency that is open-source and freely available to all.
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Monero, XMR, crypto, cryptocurrency
That's a bad idea. Imagine the monero price goes up. You'd get a cycle where nobody would buy stuff from a service like this. Then price is lower than the listed price, you get stuff cheaper than itst worth. What this does is move the volatility to product demand instead of currency exchange rate. It doesn't stabilize anything.
Probably best way to have stable crypto is to have the crypto inherently provide some kind of service, something like filecoin. In that case value of crypto would be closely tied to memory/storage price.
@RealBot @mister_monster How about the “service” of being a trustless censorship-resistant privacy-respecting currency?
That seems like a usecase in itself that doesn’t require anything more.
But that only guarantees safe one way transaction. If that is all you want thats ok.
But for safer transaction you want something like smart contracts. So you can actualy know you are gonna get what you buy for example.
Without some kind of smart contracts you are actualy relying on exchanges (so in reality it isn't really trustless).
Does monero have some kind of smart contract mechanism? In which case I am talking nonsense😂.