4 ms·

Anyway, I bought some Monero. I think its price going to increase when governments start to attack crypto.

by young_unixer 5y ago

betwixthewires 5y ago
This is not really very easy to predict. It will definitely rise from it's bottom because it has some utility even when illegal, but what that bottom is and how high it will go is the question. Will a government be capable of stopping its use? The DoD could 51% attack monero with 0.1% of it's yearly budget. But say they couldn't stop it, the next question is, is there a use for it for people who aren't engaged in black markets, for example, is it made illegal in a pending currency collapse? There are a lot of variables that affect the value of an asset, particularly currencies, and particularly when they're made illegal.
- young_unixer 5y ago
  That makes sense if the policy change is instantaneous, but if they decide to boil the frog slowly, people are going to progressively adopt Monero.
55555 5y ago
I was a huge believer in Monero. Maybe I still should be. I invested heavily into it years ago because most of the actual uses of cryptocurrency benefit from the privacy advantages of Monero. I've sold out now. The truth is that since Monero came out, it has become much, much easier to wash or launder all other coins. I think long-term this is going to hurt its value. We're going to see long-term consolidation into a few main cryptocurrencies and there will just be a button in the wallet software that swaps all your coins or washes them using some crazy cross-chain technology or something. As an example, you don't really need to hold monero to benefit from its privacy advantages. Just sell your ETH into monero, move it between a few wallets, then sell it back into ETH. This could be done automatically. So idk, I'm less bullish on it now even though I used to be a diehard fan.

4 ms·

Anyway, I bought some Monero. I think its price going to increase when governments start to attack crypto.

by young_unixer 5y ago

Anyway, I bought some Monero. I think its price going to increase when governments start to attack crypto.

betwixthewires 5y ago
This is not really very easy to predict. It will definitely rise from it's bottom because it has some utility even when illegal, but what that bottom is and how high it will go is the question. Will a government be capable of stopping its use? The DoD could 51% attack monero with 0.1% of it's yearly budget. But say they couldn't stop it, the next question is, is there a use for it for people who aren't engaged in black markets, for example, is it made illegal in a pending currency collapse? There are a lot of variables that affect the value of an asset, particularly currencies, and particularly when they're made illegal.
- young_unixer 5y ago
  That makes sense if the policy change is instantaneous, but if they decide to boil the frog slowly, people are going to progressively adopt Monero.
55555 5y ago
I was a huge believer in Monero. Maybe I still should be. I invested heavily into it years ago because most of the actual uses of cryptocurrency benefit from the privacy advantages of Monero. I've sold out now. The truth is that since Monero came out, it has become much, much easier to wash or launder all other coins. I think long-term this is going to hurt its value. We're going to see long-term consolidation into a few main cryptocurrencies and there will just be a button in the wallet software that swaps all your coins or washes them using some crazy cross-chain technology or something. As an example, you don't really need to hold monero to benefit from its privacy advantages. Just sell your ETH into monero, move it between a few wallets, then sell it back into ETH. This could be done automatically. So idk, I'm less bullish on it now even though I used to be a diehard fan.