Is monero a good buy because of the application?

[irixo10]

Before buying any coin you should first ask yourself question like, what am I looking to achieve with it. This is a very important question because there are people who buy a coin just to stake it, others buy to hold, others buy to trade, others buy because of quick profit and others buy because of hype or fomo with the hope it will pump high. So once you have decided you can check if the coin is worth it then go ahead. As for Monero, it is a good privacy coin and maybe the best privacy and anonymity coin in the crypto space, apart from that, I don't think there is any other thing. Now if you are buying because of the application, news etc they want to release, that means you are buying for profit and should know when to sell. Additionally, if you are buying for a particular purpose maybe because of privacy then it's also good but if it's for long term holding, then I can't advice rather will only advice Bitcoin.

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[pixie85]

On one hand its's great because of the anonymity and the fact that even the US government with all its resources can't track the transactions.

On the other they are starting to influence exchanges around the world to stop accepting monero. There may be a time when you won't be able to trade it on any high liquidity exchanges, only on shady ones that can steal from you or get hacked and this will limit the use of this coin and lower its value.

[qwizzie]

Chainalysis and Texas firm win million-dollar IRS contract to crack Monero
https://cointelegraph.com/news/chainalysis-and-texas-firm-win-million-dollar-irs-contract-to-crack-monero

On Wednesday, the IRS awarded two $625,000 contracts looking for tracing tools for privacy token Monero and Layer 2 protocols.
The winners were blockchain analytics firms Chainalysis and Integra FEC.

The IRS initially publicized its quest for a privacy-busting analytics solution at the beginning of the month. An IRS representative told Cointelegraph
that the agency had selected the two winning firms out of a field of 22 proposals received, though the only rationale the representative gave for the
agency’s decision was “comparative analysis was used.”

Chainalysis is among the leading firms in crypto analytics and routinely wins such contracts with a range of government agencies. Integra FEC is a relatively
unfamiliar name, despite millions of dollars in contracts with, for example, the Securities and Exchange Commission for “Other Scientific and Technical Consulting Services.”

There is one simple conclusion to draw from this : Monero transactions can now be tracked and traced !!

[Radio-Active]

Some people wants to remain anonymous, and Monero is good for that kind of people.
But Monero can be also used by bad people who want to hide their identity, but this doesn't mean Monero is bad.
All is back to the people who use Monero and their intention, good or bad.

[deathcode]

Some people wants to remain anonymous, and Monero is good for that kind of people.
But Monero can be also used by bad people who want to hide their identity, but this doesn't mean Monero is bad.
All is back to the people who use Monero and their intention, good or bad.

we cannot judge a project by such uses. the use of the platform certainly has a well-planned goal. but when there are people who have bad goals, of course, it will have nothing to do with the project. If they want to stick with market confidence, of course, the ones made for the market are the best. therefore, there is system maintenance and improvement which is carried out periodically.

[bitcoin carpenter]

If you are thinking to yourself that you would like to obfuscate your transcation, then hell ya Monero is awesome, though if you realized that you need to buy it through an exchange first then transfer it back to fiat or BTC to actualize your profits then you have realized the biggest truth about Monero....

most people use it to trade on a centalized exchange and by doing so make its main feature useless.

bitcoincarpenter.

dont get fooled by rhetoric.

[Sy]

If you are into privacy-based coins like I am, then you can surely go for it. Monero is considered to be one of the topmost privacy-centered coin, and I have been holding it for a long time. IMO during bull XMR can give us good results.

[leea-1334]

For me one thing is the application in crypto but the other real thing is the true utility in real world and this is where Monero really beats the competition.

Something many privacy coins fail to tell you is that their features are optional. Monero is not. You are always private using Monero.

Another thing? Merchant and user network does not exist in other privacy coins. Their devs and their marketing groups will keep promoting and telling people they have a wide network but you can see blockchain stats and see for yourself there is no real use volume. Unlike Monero.

It is the Bitcoin of privacy coins. Always others claim to have better tech and what not but no real world utility.

[btc-facebook]

Even though Monero is an old coin, Monero is still worthy of being your investment choice if you are looking for a privacy coin, because the advantage of Monero is privacy security so transactions will be easier.
and when compared to bitcoin, of course it returns to investors' desires, whether they choose coin privacy or choose expensive coins like bitcoin. because every investor has a standard coin he wants to keep for the long term.

[sgenuine]

Monero is superb in terms of privacy and anonymity but being anonymous is not a guarantee for the good buy that you are desired, Just considered things like regulation issues because the SEC's eye focus on privacy coins lately and it might affecting Monero's functions because Monero's transaction is completely untraceable thats why the SEC has keeping eye on it not just Monero but all of Privacy focus cryptocurrencies. and the worst if they are not cooperating with the SEC requirements it might be face delisting on US-based cryptocurrency exchange.

It is also great as it is still easy to mine it on its blockchain with limited energy consumption. Monero has hopes to excite and even encourage new user participation in its network. If a person has a PC (and almost all have it) he can become a miner that can increase the number of miners (XMR). This crypto has a good future.