XMR

FoolHooligan

while cool, they're not supporting BTC or XMR

Turkdabistan

Sorry to bump this thread but I'm in this exact situation. I see USDT as a more stable currency to the popular coins which move with greater volatility. I'm trying to figure out if buying USDT and converting to XMR at the time of purchase is the best way to avoid volatility swings and high fees (BTC). I'm seeing some doubt about the legitimacy of USDT here though which is giving me doubt. To be fair, I'd never have more than $1k at once in an account like this.

borg_6s

Ok that's cool and all but you know that most services don't accept XMR yet right

SquatDeadliftBench

I been in this since 2016. The golden rule of alt coins is if it goes up hard, it drops hard. You better sell. Only a few coins worth holding longterm and Hedera is not one of them. Not heven close. Other than BTC, ETH, and, maybe XMR, I can't think of a coin that has gone up and stayed up the same way BTC and ETH have. [This is my XRP trading history.](https://i.imgur.com/1lJs1Bn.jpeg) Just basic buy low, sell high (when in profit), wait a few days and then buy back at a new low. I do this with hundreds of coins. The only ones I do not do this with are BTC and ETH.

Ur_mothers_keeper

Where can you trustlessly swap XMR for ETH?

jwinterm

You can trustlessly swap mainnet XMR for mainnet BTC or ETH now. Also new tools like serai dex coming.

johnfintech

No. Cypherpunks' main concern is cryptography, not privacy. Bitcoin was created by cypherpunks to be cryptographycally secure and hence censorship resistant. Your xmr vs btc assertions are just another confirmation of the shortsightedness and superficiality of this sub who never actually reads anything, the little psuedo-knowledge it has comes from memes read in passing. Your answers are a perfect example. It's like talking to buttcoiners. If you want untraceability in bitcoin then you can use mixers any time you wish. XMR doesn't fundamentally add anything new, it just forces mixins at protocol level, and by doing so makes itself unattractive for adoption at any meaningful scale, let alone allowing circular economies, and hence it's no wonder that serious people don't take XMR seriously (I won't even get into the perpetual schoolgirl drama that has been the XMR dev team). Bitcoin's default level of traceability (which can always be enhanced by using mixers) was a choice, and a good one, not a shortsight. XMR's default level of untraceabiliy, which isn't even guaranteed (just statistically harder) is a typical flexing of programmers who didn't spend time to understand the social and economic ramifications; that's also shortsight, but fine as a programming experiment. Same with Zcash's zk-SNARKs transactions, which virtually nobody uses; zooko was less shortsighted, he implemented both public and private transactions (and as expected, the former are virtually the only ones used in Zcash). I typed all this for the benefit of other who might be reading. You carry on

ziclon88

Should have used Monero XMR

Livid_Primary_6294

#XMR is the one!

MoneroFox

Most exchanges only have as many coins as is absolutely necessary. When you buy XMR, you raise its price. Increasing the price of XMR is absolutely inappropriate. It is better to close the withdrawals and leave the deposits open. And over time, you'll sort it out little by little.

gr8ful4

Why? BTC and ETH are intended to be high price. Just use a low fee alternative like LTC, BCH or XMR.

WR3CKONER

I agree from an investment standpoint that it may never hit a large market cap like BTC or ETH, but from a decentralized/privacy standpoint and store of wealth/currency XMR can’t be beat. Also I get that binance is the largest CEX in the world, that XMR is being banned in the EU, but that’s because they’re afraid of it. Wasn’t the point of crypto to be your own bank and not have the government know your financial moves? I would like to also add LTC/BCH to my portfolio once I get a chance. For now I’m holding XMR and it is definitely incredibly undervalued, and I respectfully disagree that privacy coins will not survive. You don’t need an CEX to purchase XMR. XMR is what Bitcoin was meant to be.

gr8ful4

XMR is a currency. So stability is king. But as other currencies fail the currency market gets reshuffled. And at that time Monero might turn out to be an even better "investment" than BTC. So, no it's not an investment in the normal sense. But it has utility today. It's usable with low fees and private like cash. Monero and Bitcoin have widely differing paths. Bitcoin needed to grow to its market cap of > 1T over a long time. Monero could see spontaneous adoption as digital cash and tap into a huge pool of liquid capital stored in other cryptos. In other words: 2.4T USD invested in the cryptocurrency space are only one click away from entering Monero (if necessary).

cosmic_censor

> I don't like it as a speculative asset that will yield high returns Is that just because of regulatory hostility or is there some other reason XMR is a poor investment?

Inthewirelain

Not as fixed on XMR as you'd think, see the attacks last week. The adaptive block size doesn't exactly work as most think

hirako2000

I also have a lot of affection for Monero but people still don't tend to care about its properties. Imo XMR will at some point suddenly go 10 or 100x, if it continues to prove its solidity. What has delayed interest in privacy coins has been their wallet Ux. I got asked by many in the past: why my Monero don't show, why does it sync forever? I seem to have lost all my Monero they don't show anymore! A tech doesn't get a great reputation when it claims to focus on the currency use case but freaks users out for years. Plus again people are still not in touch with the massive privacy concern, they use WhatsApp, have an amazon echo or whatever and some Chinese made no brand iot stuff, continue to call via AT&T despite all the mainstream articles showing what these things are doing. Anyhow not bashing Monero at all, everything else has been outstanding and would love to finally get paid and buy stuff mostly in XMR. One day maybe. Until then I keep some. If anyone wants a coder that accepts XMR, DM me.

DuncanDickson

XMR! 👍

Etrensce

This is the same guy that called binance insolvent because of XMR. Oh and claiming kucoin was going down too.

hblok

Ok, I see what you mean. However, aren't you mixing two concepts here? Yes, btc is traceable. The ledger is fully public, down to every single transaction. So it is not anonymous. And the illusion of anonymity comes only from the lack of link to your wallet and person. But as soon as that link is established, everybody can see every single transaction you have made. However, that is very different from fungibility. When I want to sell something, and I get some sats for that, should I really care about their history? If they were at some point part of a halving block, or worse involved in a criminal transaction, should I worry? Does touching a $100 bill which was previously held by Pablo Escobar make me a bad person? No, of course it doesn't. Because the money does not know where it came from. And even though, the sats can be traced, its history really have no implication. (Unless somebody wants to create a tenuous legal link). Obviously, XMR solves this whole conundrum better. But I still don't see how it makes BTC non-fungible.

EndSmugnorance

Glad you asked! BTC is NOT fungible. And it’s not anonymous. Bitcoin is pseudonymous and highly traceable. 1 BTC =/= 1 BTC. It could be tainted with criminal history, or from a blacklisted wallet. If you’re looking for a truly fungible, anonymous coin, it’s Monero. 1 XMR = 1 XMR always.

coinfeeds-bot

tldr; The article discusses a Monero-themed artwork created by the author, which includes a puzzle with a hidden private key containing an unknown amount of XMR (Monero's cryptocurrency). The artwork is inspired by Fight Club and is available for download in various formats including PNG, AI, EPS, SVG, and PDF. The artwork is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, and high-resolution files are available upon request. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

MoneroFox

So far, everyone who delisted had a long-term problem with XMR withdrawals. Also withdrawals closed for many months or years ... a regular exchange has max 24 hour maintenance. What more proof do you need? Only proof of the FTX style will come.

Etrensce

The burden of proof is on you to prove that exchanges operate on fractional reserve for XMR, not the other way around. And you post is lacking of any evidence or proof.

solarsalmon777

"OK, you can have bitcoin, but if you so much as look at XMR..."

Hurricane_Ivan

I'll be prioritizing the following (greatest to least): * LCX * QNT * LINK * XMR * ATOM Maybe a bit into LTC too.

Linux_is_the_answer

XMR, the only crypto I really believe in

enyo-ojo

XMR!!

MoneroFox

Look at the results of the public audit of XMR reserves: [MoneroRun](/r/Monero/comments/1c6y42z/results_of_public_audit_of_xmr_reserves_monerorun/)

FoolHooligan

Having a central figurehead like Charles Hoskins is a huge opportunity for social engineering. If Hoskins says so, he could move heaven and earth in Cardano-world. Maybe some next-gen AI could convice the institutions to really fuck up the network. Nobody knows who-tf created Monero, there was never a pre-mine, and it doesn't even go into the extreme privacy-by-default measures that the team has taken. XMR was built with security and decentralization in mind. To an extreme extent. It uses a mining algorithm called RandomX that is ASICs resistant, because ASIC mining was perceived as a form of centralization. I'm barely scratching the surface. You really should look more into it.

tldrthestoryofmylife

Might work on Vitalik, but not Charles. In the beginning, Cardano's "root keys" were held in multisig by seven child keys (Horcruxes) held by three different legal entitles with three different management teams. It'd still have been technically possible, but it'd take a *lot* of social engineering across different corps in different countries to do it. Not to mention, with the latest \[Chang\] upgrade on Cardano, we're now properly decentralized. Case in point, there's no "root keys" anymore; governance is handled by electorate system over different "members-based institutions" in a way that resembles the US, except it's *actually* decentralized in the way that the Founding Fathers wanted the US to be. >Where does XMR sit on the EDI? Not sure, but I imagine it's not much higher than ETH; any chain built with some other explicit \[or implicit\] purpose than security and decentralization, i.e., for the purpose of onboarding banks and other financial institutions in the case of XMR, would probably result in an apples/oranges comparison.

FoolHooligan

ETH and ADA are very susceptible to a [$5 wrench attack](https://xkcd.com/538/). BTC, not so much. People that try to compromise BTC have given up on the base protocol and are using layer 2's and derivatives to co-op. Where does XMR sit on the EDI?

FoolHooligan

wrong XMR is used all over the place [https://cryptwerk.com/pay-with/xmr/](https://cryptwerk.com/pay-with/xmr/)

Crib0802

Monero (XMR) IS THE BEST !

EndSmugnorance

Happy birthday to the king of privacy coins. XMR!

BRRGSH

All of the listed coins have flat fees, Some are fine, like XMR which is 1 cent. List here [https://support.kraken.com/hc/en-us/articles/360000767986-Cryptocurrency-withdrawal-fees-and-minimums](https://support.kraken.com/hc/en-us/articles/360000767986-Cryptocurrency-withdrawal-fees-and-minimums)

ScoobaMonsta

Monero provides its users with the luxury of complete deniability. This means that the onus is on authorities to provide the proof that any individual is doing something illegal. The user doesn't have to provide proof of innocence with XMR. There's nothing for authorities to pin on someone. With using BTC or any public network the user has to provide the proof that they are innocent. This is the problem with public networks! Any BTC that you own, you also own its entire transaction history! That's how authorities can hit you with charges. You own BTC that was involved in a crime! Prove to us that it wasn't you. This can't happen in Monero! There's no way to link a person to any coins or any transactions. The onus is on authorities to provide the proof. This is what makes monero fungible. BTC and any public network IS NOT fungible because of this very reason. Now in some situations people may need to show proof of certain things. Like a business that accepts xmr. Or a charity that receives donations and they need to show that its being spent appropriately Monero has view keys for this purpose. You can give the view keys to a wallet which will allow them to see all incoming transactions. You need to do some more reading on monero my friend.

gr8ful4

So you are a liar when you say you never had problems with using those CEX: HTX closed XMR withdrawals > 6 months, Poloniex several times insolvent has closed XMR withdrwawls > 6 months. Binance has closed XMR withdrawals > 3 months, OKX more than one year. KuCoin closed for months.

dannygladiolas

There already is a beta of atomic swaps between ETH and XMR. Something Vitalik likes to ignore.

gr8ful4

There are atomic swaps between BTC, ETH and BCH with XMR.

HairyChest69

Or a great store of value or privacy (XMR) under a dystopian government using AI to manage Your personal future banking?

Dartius

It depends on where the recipient is located, Kraken does not service all of Europe or Africa. If you’re talking about XMR then Kraken is already halting trading for it in certain regions.

FireFistTy

It's insane how little recognition XMR gets yet it is easily the most solid.

ForthInLine

100% XMR In the midst of a natural disaster or an economic crisis, I won't give or take anything else, not even gold or silver coins or bullion.

bleakj

I know I can mind Monero using XMR-Rig, but isn't this just CPU mining? Or is there actual node running that Im not familiar with that that functions different?

ziclon88

You can run a node and mine Monero XMR in consumer grade hardware like yours. But its not profitable unless you have cheap energy

Etrensce

The "this is good for Monero" shillers are largely the ones who are bag holding XMR looking for a 10x gain, not some form of stable currency.

Dartius

He would have to figure out what cryptocurrencies would be easiest for the recipient to turn into their local currency. There are a lot of cryptocurrencies which can do what he wants but the harder part is getting them back into the local currency. People say to use XMR but almost nowhere legitimate accepts it now because of all the criminal connections. In a perfect world it would be great to keep things private but governments do not like that.

hhtoavon

Is this a way to embed XMR data in Bitcoin?

Somebody__Online

I use it to pay my entire cost of living. I supply crypto to liquidity pools and then get payed incentives for doing that. I harvest the incentives and swap them for stable coins. The stable coins I pull out through Gemini and into my bank account. Paying income tax on them since the incentives are considered income. This needs to be reported as a separate 1099 in my taxes. I also buy online goods and gift cards with crypto. Usually stable coins as well. I buy Amazon, DoorDash, and Uber gift cards as well as steam and some stuff to give away to people. That’s on bitrefill. If I’m buying from deep web markets it’s also usually a crypto transaction. Mostly XMR. For the most part I use crypto to earn a living and then pay that living. I live in LA and rent a 2 bedroom apartment with my crypto income and it’s taken me about 8 years of active participation in these assets to get to this point. I also like to collect art and collectibles and do that with crypto some times as NFTs. That’s just for fun though and it’s more about the community and supporting creators than it is about making money or expecting a return. I have a pretty extensive Funko pops collection and a few pfp projects that have blown up in value over the years. Nothing too crazy.

CointestMod

#Monero Con-Arguments Below is a Monero con-argument written by FrogsDoBeCool. > cointest copied from Frogs do be cool (me) [https://www.reddit.com/r/CryptoCurrency/comments/og17m0/comment/h6m77hd/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/CryptoCurrency/comments/og17m0/comment/h6m77hd/?utm_source=share&utm_medium=web2x&context=3) > > disclaimer: I own no monero > > # Monero, some cons > > * XMR won't be adopted globally. > * Monero due to its regulation and straight-up banning on most exchanges, won't be adopted. It's pretty obvious why, but to spell it out more, people who can't buy monero, can't use it. Why not buy it on defi? it looks like defi exchanges may be able to be regulated too! meaning monero can't be exchanged for other currencies. > * The price doesn't do much > * That's because of the supply, as of now, there will be a constant amount of xmr made now than ever. That's fine as a currency, but now the price won't be doing 10x's or 5x's like bitcoin. That's great as a privacy feature and removes issues of 51% attacks, but at an expense of the price ever going up and staying up. adding to my point above, monero has no worth if it cannot be exchanged with other currencies, the price could be infinite, or $0, doesn't matter when nothing will be exchanged for it. > * its reputation > * XMR is known by people who don't own crypto as "the shady tax evader coin" or "criminal coin" and other things to do with crime. There's no doubt that in the crypto sphere the simplest fud can kill a project, remember Elon musk removing bitcoin from their payment systems? China, again, for the 45000th time... > * Its most popular wallet has some issues, mymonero > * a reddit user was quoted "I am constantly met with errors, crashes, and a frozen program" "My wallet froze and I couldn't even delete wallets or restore. I tried reinstalling and every time the problem would not resolve itself. I had to finally restore my seed on a different wallet." the response was not exactly the most in-depth or helpful. "We are aware of an issue when the computer goes to sleep or power saving mode and will be addressed in future patch." [src](https://www.reddit.com/r/monerosupport/comments/i22fd9/why_is_my_monero_wallet_so_bad_i_find_there_is/) > * the cons of monero are pretty intense, as regulation comes to push it down, other things like wallets that support monero, its reputation, and the tokenomics suffer. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Monero) to find submissions for other topics.

Thomas5020

I mine XMR then use it to pay for my VPN.

coinfeeds-bot

tldr; Kraken, a major cryptocurrency trading platform, has announced it will cease trading of Monero (XMR) for users in Ireland and Belgium starting June 10, 2024. From May 10, 2024, the platform will stop accepting deposits and trading of the privacy-focused cryptocurrency, with any remaining XMR balances being automatically converted to Bitcoin (BTC). This move follows similar actions by other exchanges and comes ahead of the full implementation of the European Union’s Markets in Crypto-Assets (MiCA) legislation. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

ziclon88

If you want to keep things private,/untraceable use XMR and localmonero.co as an offramp 

AdamFitri2005

How is XMR second

BuffaloBrain884

On Bitcoin, you can easily verify a transaction, balance, or the total supply. Monero is basically a black box. There's no easy way for the average user to verify the total supply of XMR. People don't like to admit it, but when you're using a coin like Monero, it requires WAY more trust in the developers than Bitcoin. I don't need to trust the Bitcoin devs because everything is transparent. You absolutely need to trust the Monero devs.

Sugarbird676

My gold dealer only accepts XMR.

Altnumbr3

an untraceable currency would be monero(XMR). Unfortunately alot of major exchanges have been asked to stop offering it by governments. you cans till swap bitcoin for monero though the value of monero doesn't rise like bitcoin though. it stays roughly the same and recently declined. Another idea for untraceable bitcoin is swapping it for monero, sending it through one or 2 monero adresses and then swapping it back into another seperate itcoin adress. it would cost you heavily in fees though and if the feds see 5000$ leaving your bank account and 10000$ entering your bank account from en exchange later they might be able to put 2 and 2 together

ByteJumper7

Yeah I really only care about BTC ETH, and maybe XMR as long term holds. Everything else I don't know enough about.

WellThatsNoExcuse

Try and buy XMR. "First they came for the privacy coins, and I said nothing because I didn't have any privacy coins..." The EU is already banning unregistered wallets. These aren't redditors, these are professional bureaucrats who realize the consequences if they lose control over the money used by their citizens...and if you think they're asleep at the wheel, you're not paying very much attention.

NoManager1005

Time to buy XMR?

BuffaloBrain884

XMR is great for making private transactions. It's not a good speculative in investment.

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CointestMod

#Monero Con-Arguments Below is a Monero con-argument written by mic_droo. > Monero is a privacy coin – the biggest and most well-known privacy coin, at that. Its main appeal is that, other than most other crypto currencies, it really is private and anonymous and it has a huge community that loves that about it. > > There are, in my opinion, two clusters of arguments that can be made against Monero: those that generally disagree with Monero in general and think it’s dangerous, and those that generally think what Monero is doing is good, but that it doesn’t do a great job at it. > > Let’s start with the first one: the argument could be made that Monero is dangerous. As I’ve laid out in my [Privacy Con-post](https://np.reddit.com/r/CointestOfficial/comments/r6syvm/general_concepts_round_privacy_conarguments/hxqgi5x/) in the last round, complete privacy enables illegal activities – one the one hand if you, for example, kidnap someone, asking for Monero is a great choice. But elites can also engage in corruption more easily using a coin like that. It can also be used (and let’s be honest, that is happening) to avoid paying taxes – which in my opinion is a huge problem as 1) this leads to governments receiving less tax money (**yes**, I think taxes are a necessary and good thing) and 2) to them being more anti-crypto. If we want crypto in general to be more accepted, Monero isn’t doing anyone a favour, some [countries are cracking down on exchanges that offer privacy coins](https://www.techtarget.com/searchsecurity/news/252512394/Monero-and-the-complicated-world-of-privacy-coins) specifically, which might also lead to less and less exchanges offering XMR when crypto gets regulated more. > > Okay, so far so good, but even if you think complete privacy is exclusively good, Monero has a few downsides. Firstly, [it might not be as untraceable as it seems](https://www.wired.com/story/monero-privacy/) – in the past there have been a few problems that might have made you identifiable, especially if you weren’t cautious enough. Even though developers have fixed past loopholes, that doesn’t mean Monero will stay untraceable forever. The IRS [famously isn’t a fan and has a bounty on cracking Monero](https://www.forbes.com/sites/kellyphillipserb/2020/09/14/irs-will-pay-up-to-625000-if-you-can-crack-monero-other-privacy-coins/?sh=3749d97585cc), and it’s naïve to assume it is *impossible* to do so. If people feel to secure now, they might be in trouble once the code is cracked. Secondly, it’s slow – with one transaction [taking about half an hour to be completed](https://www.monero.how/how-long-do-monero-transactions-take), which makes it unusable or at least very annoying for many applications. Thirdly, it’s a proof of work coin which, without going into too much detail (but see my [PoW con post](https://np.reddit.com/r/CointestOfficial/comments/r6vtbn/general_concepts_round_pow_conarguments_december/hyr768o/) is an inefficient system that is awful for the environment. Finally, Monero mining [is pretty centralized](https://bitcoinist.com/does-monero-have-a-serious-centralized-mining-problem/) making it a potential target of a 51% attack. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Monero) to find submissions for other topics.

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BuffaloBrain884

People use Bitcoin because it's open and transparent. If you don't understand that, then you'll keep asking yourself why BTC is more popular than XMR without understanding why.

imadumbshit69

Geopolitical tensions? The fact that politicians are going after crypto and XMR being removed from exchanges makes me super bullish. Buy the dip and forget.

Giganerdx

Even after all the FUD, delistings, manipulations and attacks, especially from IRS, every vendor still choses XMR. It gets delisted because it works. Cryptocurrency was initially created to fight the system, not to comply with it. Monero will never obey the governments.

ziclon88

You forgot to mention that XMR can be mined in consumer grade Hardware

conceiv3d-in-lib3rty

It’s not going to happen and is the reason why XMR has fallen out of the top 50. Top trying to make Monero into something it’s not. It’s a private digital currency for people who value privacy and criminals and that’s all it will ever be. Instead of worrying about its mainstream popularity and price, you should just be happy it has a thriving community who will forever keep building to make it better and you should run a node.

voxcon

For btc it's easier to prove that you owned the coins (simply provide the transaction history) for XMR it's more complicated, since you can not easily prove that you held the coins, once they leave an exchange. In theory you could ask your exchange to confirm that the outgoing transaction happened by providing you a confirmation hash and receiver address, and afterwards you could generate the same "evidence" for when you want to selk through the exchange. So if the exchange is willing to cooperate, you can theoretically prove a chain of ownership for your XMR, but it's to much of a hassle for most people. So they don't do it. And if you don't do it, you will get in trouble when the authorities request to know where your XMR is coming from and how much profit you made.

voxcon

Won't be enough. Anybody who sticks to the law and pays taxes on their crypto earnings will avoid XMR, simply because it's to much paper work.

gr8ful4

I use it for my everyday purchases. And https://shopinbit.com/ will give you 3% discount if you pay with BTC or XMR.

Giganerdx

Someday XMR is gonna moon and 99.9% of cryptobros will miss it and be very surprised. It's not a shitcoin and is literally the only project that suits the definition of money, because it's private by default. Markets in opressive regimes and darknet vendors were using bitcoin, now they use monero, because bitcoin failed them. BTC = NFT

setzer

It’s very well known. Monero liquidity is low however due to not being listed on more popular CEX. If it were on Coinbase and Binance, XMR would likely be in the top 20. I don’t know if this will change in the future. My suggestion is to only buy if you intend to use it. As an investment it might well continue to underperform, despite the tech being sound.

Ok_Analysis_1304

On the subject of Monero community- there has recently been a very nice flow of donations into the Monero General fund for continued research and development. I am talking about 2000 XMR (\~$250,000) in donations in just the last month! Not many other alt coins (if any) that has that level of voluntary donations from the community.

Etrensce

The number of people that prefer 3% cash back is many times greater than the number of people with things to hide. The addressable market for XMR is just not as big as the shillers think.

recessiontime

Governments ban it. Therefore exchanges are forced to ban it. And thus liquidity dries up and with it the price. You know how when the SEC sues a crypto company and an US exchange is forced to delist it? Imagine that on a world wide scale and you would get to something like Monero. So for now, people save in BTC and only buy XMR when the need arises, like a crypto currency rather than a crypto asset to hold.

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ForthInLine

Only one of you mentioned XMR. It should have been all of you. 100% XMR.

Thatsplumb

Another trading platform, uses XMR as the base pair over BTC. XMR being delisted from a few platforms then this pops up. It was on their subs a couple days back, haven't been on there myself

g_r_u_b_l_e_t_s

Not at all! Got going on BTC way back in the day then into XMR not long after it came out; they are my two favourite cryptocurrencies. Keep BTC as a rollercoaster, swap at a good time for XMR. I’ve been a privacy nut and cypherpunk zealot since the government took on Phil Zimmermann for distributing PGP in the early 90s.

sandpaperboxingmatch

Its nuts because if people actually chased worthwile projects, they would explode way more than memes that peak at 40MC and end up dying. Imagine if all of these billions "invested" in garbage were instead put into something like LTC or XMR.

Impulsive666

I remember another coin that used to be feared by TrafFi. Now they chase it. I‘ll just keep my stack of XMR in case BTC pulls through. Because then we‘ll finally see the impact of (true) fungibility. It will be glorious.

dannygladiolas

You can swap XMR with Cake Wallet, it's a mobile hot wallet.

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hemirt

Will you be adding options to pay by card for lower fee chains, e.g. the base chain, or XMR? https://addrs.to/hemirt

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CointestMod

#Monero Pro-Arguments Below is a Monero pro-argument written by roberthonker. > **Taken from /u\/awhodothey's submission from last round** > > Assume no consumers ever care about privacy. Assume everyone is totally fine with all of their finances and purchase records being 100% visible on the blockchain to anyone who EVER pays or receives crypto from them once. Or assume crypto never catches on enough for casual consumers to realize they don't want every company to know every detail of their life... Monero will still succeed. Monero's real world market adoption will still continue to grow. > > Assume Monero was banned by every country in the world. Monero is the only coin who's market cap would be projected to increase even if it was completely banned, because Monero is the preferred coin of the black market, and black market activities are, by definition, already banned by law. > > The market cap of the black market is the market cap of every commercial activity that governments physically cannot stop. Monero's usage, market cap and price are increasing as the black market very slowly adopts Monero- despite the fact that most exchanges have already delisted XMR. Monero is the only multi-billion dollar coin that is known to have no chance at being listed on some of the biggest exchanges. So why is it worth so much still? Because unlike every other crypto, Monero is actually used as an exchange currency in the real world. > > The global black market is currently estimated to be over $10 trillion/year- larger than the economy of every country in Europe. If the global black market were a country it would be the second or third largest economy in the world. > > https://www.forbes.com/sites/benzingainsights/2011/11/07/rise-of-the-shadow-economy-second-largest-economy-in-the-world/?sh=4198b6cf4a0e > > The anonymity of Monero is comparable to the anonymity of cash, but Monero is much cheaper and faster than cash transfers. Further, because Monero does not need to be physically transfered or stored, it is much safer and greatly reduces the risk of violence and theft to black market participants. > > But what if every single centralized exchange removed Monero? It's too late. All the necessary pieces are already on the board. Atomic swaps with bitcoin are live, and wallets are rushing to integrate decentralized, trustless BTC to XMR exchange. Secret Network already has a tokenized version of Monero (sXMR) on the testnet of Secret Swap (a private, decentralized exchange that anyone can use without KYC). Every major crypto will be convertible to Monero. And options like "localMonero" already exist for anyone who wants to convert cash or refillable debit cards directly to Monero. > > Monero is the leading privacy coin, and the only trustless privacy coin with a network effect and proven track record of real world use. It is privacy by default, and users have no risk of forgetting to enable privacy. The Monero network is highly decentralized and open source and does not require users to trust its creators. The community is active and passionately unified around the core objectives of creating a real decentralized currency that is private. The IRS's bounty for anyone who can crack Monero is a testament to years of proven success. > > Monero is *the* crypto currency of the black market. Monero has no competition in that market, and it leaves no room for another coin to prove itself. Worst case scenario, Monero is outlawed and rejected by all law abiding citizens of the world. Monero would eventually replace blackmarket currencies and make some black market practices, like money laundering and off shore banking, entirely unnecessary. > > There is no need for slow, extremely expensive off shore banking practices that carry privacy risks (like the Panama papers that leaked account holder's names) and security risks (like the government reforms that have lead to account confiscations). Monero is cheaper, faster, easier, safer, and more private. It makes off shore banking completely obsolete. > > The market cap of gold is about $11 trillion. Low end estimate of the offshore banking market cap is $20 trillion. At $222, the current market cap of Monero is about $4 billion. When Monero's market cap reaches 1% of the low estimate of the illegal global offshore banking market, that will make each Monero worth more than $11,000. > > https://www.forbes.com/sites/frederickallen/2012/07/23/super-rich-hide-21-trillion-offshore-study-says/?sh=191f47fa6ba6 > > Monero will inevitably become a major currency of the future. Probably nothing can stop that, so you may as well think about your privacy and choose to use it to protect your perfectly legal transactions too. Fortunately, Monero is designed to be a currency, not a store of value with a fixed supply that discourages spending. > > Black market adoption will put buy pressure on XMR, and that demand will slowly drive the price up. Monero may not be the fastest growing investment opportunity, but that's what makes it a better currency. I can't name an investment that would be lower risk, or name a better crypto currency. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Monero) to find submissions for other topics.

gr8ful4

So you say it's a better store of value than BTC? BTC is either a speculative investment until it is fully capitalized and eventually becomes a store of value or it is a worse store of value than LTC or XMR or BCH.

gr8ful4

BTC so far has been a great speculative investment maybe soon reaching the status of reserve asset/store of value. XMR, BCH and LTC are desigend to be *a* medium of exchange. So if you want to use cryptoCURRENCY as digital money or digital cash you are much better off with one or all of these.

gr8ful4

1. XMR 1. BCH 1. LTC 1. BTC It's good but Monero and bcash are better.

BRRGSH

Monero is cash but digital, you can still show movements and declare your income and expenses... The same was said about BTC before everything became KYC. XMR prevents the outsiders looking in.

RatherOakyAfterbirth

Buy XMR using cash P2P send it to a cold wallet you also bought using cash. Completely anonymous. 

cryptoquant112

I’m so gd tired of hearing about kaspa. Damn they must be paying a lot of you guys. Kaspa sucks. XLM, XNO, XMR and about 5 other payment coins are significantly preferable.

monerobull

Should use XMR instead where u can send ???? with 1 cent fee.

Etrensce

A better place than Belgium (and likely rest of Europe in the future)? All because they blocking XMR? Yeah sounds like a great idea to uproot your life for.

dannygladiolas

Just today it was released a new alternative to Bisq called Haveno, it uses XMR instead of BTC.

OfWhomIAmChief

You still havent moved your XMR??? Im surprised people like you exist lmaoo, what are you waiting for?