this post was submitted on 04 Aug 2024
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Bitcoin has the right idea, but did not execute it properly, primarily because it was the first and technology has improved and it has not. Monero is actually doing what bitcoin was meant to do and acting as a transactional currency, medium of exchange, and store of value.
Look at my totally stable store of currency bro, trust me bro, this is totally useful as a means of exchange and you can trust in its future value bro, just believe me.
Now, overlay that price chart with a transaction count chart averaged out over say 90 days and what you will notice is that big spike up to 400 and above was at basically no transaction volume which makes it seem more like that was hype. Looking at the price chart over shorter timeframes such as a year will show you that the transaction count is actually increasing now and the price is staying quite stable.
I don’t know if this argument is the winner you thought it was. A currency where people aren’t using it as a means of exchange because of price fluctuations is a failure.
No, no, hear them out. It's actually super great that when you walk into the grocery store the loaf of bread is $1.50, and by the time you walk to the bread aisle it's $0.72, and by the time you walk to the cashier it's $2.10. This is actually super great, because there's also a medium country's worth of electricity being consumed to enable that.
When i pick up a loaf of bread its 0.012, and when i check out its 0.012. Currentsies are going to shift against each other. The exact same thing would occur if you walked into a store in, say, Germany and handed them dollars. Also, do you mind telling me how much energy the banking system uses to run their equipment, build their buildings, have their employees come to their branches, move armored trucks full of cash, etc. Like, I can understand the power use thing being an issue. But if you want to go after something that would make more of a difference, how about figuring out thermal bricks or something for industries making glass? Which produces a hell of a lot more greenhouse gases than crypto mining does. Industrial processes are a huge polluter. Or how about the global transportation system?
This is the poster child for whataboutisn. You literally just argued that it's okay for cryptocurrencies to pollute and waste energy because it takes energy to make glass too.
It fluctuates with an I narrow range, and as it gets more adoption, that range is continuing to narrow. As a matter of fact, I sell items for Monero and I keep my prices completely stable and people do come to buy things. https://xmrbazaar.com/user/shortwavesurfer2009/. I have my prices set in such a way that they will stay stable until at least December 1st of 2024 at which time I will update them if need be.