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Guaranteed Crypto Loss.
(www.citizen.org)
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this post was submitted on 28 Oct 2024
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Yes, Monero fills a niche, and it's the closest crypto asset to resemble a currency.
However, your previous post talked about replacing finance with Bitcoin. Even if we pretend you were talking about Monero, that just means you have a one world currency, and no one at the helm who can guide monetary policy for any one country.
You shouldn't need a degree in finance or economics to understand how disastrous that would be, especially for smaller and poorer countries.
So, Bitcoin and the rest of crypto are all commodities, not currencies. They are commodities with a high environmental cost, and a floor of zero because they have no tangible assets to speak of.
Monero can fill a niche, and I'm actually happy about that because I like Monero and the principles behind the project. Unless of course you believe that includes delusions of grandeur and replacing all world currency and financial systems, with the magic of the "just the right crypto".
With Monero as a currency, governments will not exist because they will not be able to enforce taxation and nobody will accept their fiat money as valuable.
lol
Thats my hopes anyway. Humans have allowed the existance of tyrants for far to long