Is monero a good buy because of the application?

[Parking_Meater]

I'd like to know some thoughts from the lovely minds here. Not trying to get rich quick or anything. Just curious if monero is a good buy based on the application of use preferred to being anon. I personally would only stake to eventually somehow get the nero to btc. Just kind of curious on the thoughts of folks and the coin in that sense.

[TheUltraElite]

Monero (XMR) is only good for the anonymity that it provides nothing more if you ask me.

No need of adding another altcoin to your portfolio if Bitcoin is already providing you a pseudo-anonymity enough to take part in censorship-resistant methods.

Now I cant judge if you are going to launder money or not but many darknet markets are using it for that purpose.

What do you mean by stake? Long term holding for XMR has not shown any good performance because all altcoins follow the bitcoin trends and you cant expect to multiply your bitcoin by buying and holding Monero for long. Instead just buy bitcoin.

[masterrex]

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.

[chikator]

I'd like to know some thoughts from the lovely minds here. Not trying to get rich quick or anything. Just curious if monero is a good buy based on the application of use preferred to being anon. I personally would only stake to eventually somehow get the nero to btc. Just kind of curious on the thoughts of folks and the coin in that sense.

I would say yes. Bitcoin was created in order to transact annonymously to the point of payments for illegal tjings since then it was impossible to track. If there was a coin offering that and is more secure id say it would be best to stake on it.

[blockman]

If that's your preference for buying Monero, you're good with it. I don't know if there's an existing exchange that allows you to stake monero. In fact, it's being delisted with its anonymous feature which is disliked by the government.
With that reasoning, the exchanges have to follow the protocols of the government where they are residing and have to delist it for compliance.

[qwizzie]

I'd like to know some thoughts from the lovely minds here. Not trying to get rich quick or anything. Just curious if monero is a good buy based on the application of use preferred to being anon. I personally would only stake to eventually somehow get the nero to btc. Just kind of curious on the thoughts of folks and the coin in that sense.

Way too much heat on Monero these days and too little actual usage / transactions.

https://bitinfocharts.com/comparison/transactions-ltc-bch-xmr-dash.html
https://cointelegraph.com/news/ciphertrace-develops-monero-tracing-tool-to-aid-us-dhs-investigations
https://cointelegraph.com/news/the-irs-offers-a-625-000-bounty-to-anyone-who-can-break-monero-and-lightning

Also with Monero their transactions have a timelock (10 confirmations i think) before getting spendable by the receiver, which means Monero is not positioned well to function as a fast way of sending & spending money.
Not to mention that senders can timelock transactions at will, which means receiver at all times need to check if sender has not tempered with the timelock on their transaction (degrading the trustless nature of its blockchain)

Blockchain-based
Certain blockchain "features" can be considered "bugs" if misused correctly. Consequently, please consider the following:

When receiving monero, be aware that it may be locked for an arbitrary time if the sender elected to, preventing you from spending that monero until the lock time expires. You may want to hold off acting upon such a transaction until the unlock time lapses. To get a sense of that time, you can consider the remaining blocktime until unlock as seen in the show_transfers command.

Source : https://github.com/monero-project/monero/blob/master/README.md

Also keep in mind that 96,2% of Monero is already mined, which is strange as even Bitcoin is not mined that highly (88,1%) and Bitcoin is at least 5 years older then Monero.
Just a very strange Monero coin emission rate schedule, seemingly focused on over-rewarding its early miners. A sign of miners centralization.

[Yaunfitda]

I'd like to know some thoughts from the lovely minds here. Not trying to get rich quick or anything. Just curious if monero is a good buy based on the application of use preferred to being anon. I personally would only stake to eventually somehow get the nero to btc. Just kind of curious on the thoughts of folks and the coin in that sense.

Well if you want to take care of your privacy then buy Monero, however, I will give you a warning that many exchanges have delisted it already because of some pressures from regulatory framework. Meaning they are really afraid of Monero being a privacy coin as individuals might used it in the wrong way, i.e. criminals from the dark web, terrorists, tax evaders, etc. So you have to weight your options here, specially that government are offering bounties to break it's anonymity, SEC offered a 625K bounty for a tool to track LN and Monero.

[amishmanish]

This has been a recent trend in the bitcoin community to position its pseudo-anonymity. As regulations and governments clawed their way into the anonymity and non-KYC features, Monero crowd has been eager to position itself as the truly anonymous coin. Sophisticated techniques to trace blockchain transactions have also rendered bitcoin "not so anonymous" anymore.

Bitcoin has a development roadmap that will also allow transactions to be anonymized. This is MimbleWimble which has actually been implemented into Grin. Bitcoin has a fork in the road where anonymous transactions can be a feature available to the user. Monero has privacy by default which has made it an easier target in these times of regulation. BTC on the other hand has a tightrope to walk on. This also gives it an option into the future. Monero is a dead end and any speculative increase can only come from greater Darknet activity in the coin, which, we hope so, has a natural upper ceiling.

Try Grin instead. More room to grow i suppose. It also had support from the Bitcoin community but has been awfully quiet for sometime.

[bitgolden]

It is a great one if you are going to utilize it, monero is a currency that has privacy at the top level and they really care about it, even IRS put out 625k dollars money to crack it, and nobody has managed it so far, and even if the did they would be working way before IRS did that, since cracking monero blockchain would mean you could get very rich very quickly, since it wasn't done I am sure it can't be done neither, this is not ETC so you can't control it.

But if you have no use for privacy at all, if you do not care about staying anon, and only thing you care about is profiting from trading it, I am sure you could find other coins that would be better to make you quicker profits without worrying about the application of that coin and how it could be used.

[20kevin20]

Personal opinion: the less privacy and anonymity we will have in the future, the more Monero will matter. Considering the way we're moving towards a cashless society where banks will literally know where every single penny goes from your wallet, I think a lot of people will start feeling at least partially threatened and seek ways to avoid being under the government's control.

While it might've been considered a conspiracy only few years ago, we really are moving at least partially towards an Orwellian world where anything new you want to buy has microphones, cameras (vacuum robots, TVs, smartphones, watches etc), anything you do is digitally recorded and you are considered a suspect for wanting to have privacy. It's here, sitting right in front of us and if people still see it as a big stupid conspiracy, they're just blind.

At one point, both Monero and Bitcoin but especially the former will be coins of the "rebels" who'll look to hide from creepy and omnipresent digital tracing and control. I personally think it's an amazing investment at today's price.

[EMV]

I bought monero when it cost 10 cents. I know that this coin can still show itself and it is very undervalued. It has very good security and is a very good project.

[tsaroz]

Personal opinion: the less privacy and anonymity we will have in the future, the more Monero will matter.

It's why Monero is always a good coin for your portfolio. Not just a popular privacy focused coin, Monero is one of the most decentralized coin and it's mining unlike bitcoin, would remain popular for a long future. It has always stood to counter dedicated mining machines and is still popular with individual miners. 
Even if the governments around the world jointly enforced a ban on cryptocurrency, Monero would be the one least affected. I don't mean to cause panic but as an investor, we should be ready for worst case scenario. 

[Princejebs]

There is two side to monero coin if you want to buy/hold Monero :
Unlike bitcoin that's pseudonymous where transactions can be track to wallet holders, monero provides full anonymity to its users which is good for those who value their privacy. However, this untraceable function has been abused by dark web, hope you know this?
With the recent law enforcement action, I fear it may end you in loss once they are able to succeed with the Bounty hunt to Crack down monero.

[BChydro]

I'd like to know some thoughts from the lovely minds here. Not trying to get rich quick or anything. Just curious if monero is a good buy based on the application of use preferred to being anon.

If you are looking to have privacy then Monero is a really good coin, it is not a quick rich coin but it is one of the best coins in the market that will give you the privacy that the rest of the other coins lack.

However, this untraceable function has been abused by dark web, hope you know this?
With the recent law enforcement action, I fear it may end you in loss once they are able to succeed with the Bounty hunt to Crack down monero.

If anyone finds a flaw in the mixing then the developers can always upgrade that, it is not that easy as it sounds to crack monero. The best option for the authorities is to blackmail the developers to provide them with the keys for every transactions rather than giving out a bounty  .

[hatshepsut93]

Privacycoins, at least those without backdoors, are quite likely to be outlawed at some point in the future, because governments really don't like the idea of criminals or even regular citizens hiding their transactions. Bitcoin is tolerated because it's transparent, but if it will get some huge privacy improvements, there will be a risk of it getting banned too. You can already see how a lot of regulated exchanges were forced to drop Monero and other privacycoins - this can't be good for trading and the price.

[NavI_027]

If you are having a plan to dive in the deep web and purchase different stuff/services there then that would be a best choice (no offense meant). Monero is now gaining lot of attention and slowly getting more prefered on such places. Nonetheless, I am not saying that would be a bad pick for investment. It was actually good since it belongs on the list of top tier coins in the market. So go ahead if you want, just don't forget ro handle your assets with care .

[akram143]

I'd like to know some thoughts from the lovely minds here. Not trying to get rich quick or anything. Just curious if monero is a good buy based on the application of use preferred to being anon. I personally would only stake to eventually somehow get the nero to btc. Just kind of curious on the thoughts of folks and the coin in that sense.

If you are not really looking for profits by holding your coin but wanted to use it with complete anonymous then it is the coin for you, but the problem will be more with privacy coins like monero in terms of regulations from government but apart from that, yes it is a must coin in crypto investor's portfolio.

[Yey09]

Monero price is not growthing in the long term. It can be good investment only if you are going to use it as payments

[bitkanu]

Anon is the main feature of monero and that's why it has already used as the reason to buy monero coin.

I remember when this coin was so popular among the users in the dark web to be used to do various illegal transactions.

Dude, people bought this because they didn't wanna be traced by any institution or another personality. To keep remain anon and this coin is the answer.
This is the main point that has already offered to attract buyers.

[Febo]

I'd like to know some thoughts from the lovely minds here. Not trying to get rich quick or anything. Just curious if monero is a good buy based on the application of use preferred to being anon. I personally would only stake to eventually somehow get the nero to btc. Just kind of curious on the thoughts of folks and the coin in that sense.

If you need to use cryptocurrencies then Monero is definitely best choice. Since no one will know how much coins you have and where you get them or where you will spend them. They can see when you use transparent ledger crpyto currencies.

Beside this very important fungibility that according to Aristotle https://www.marketoracle.co.uk/Article10370.html makes good money.
Monero can scale because of combination of adjustable bock size and tail emission. Monero had fair launch without any ICO, premine or developer tax so is totally compliant with any SEC regulations or any regulations in other countries just like Bitcoin. Monero have strong development and strong community that founds all development with their hard earn money. Monero transaction fees are less then 1 cent and will only go down with more transactions. Number of transactions doubled in last year. Monero can be best mined with CPUs. Everyoen in every country on the world can buy CPUs and mine. So no government can ban mining like Venezuela did recently by limiting importing mining equipment. They simply cant limit importing CPUs since that would mean nothing will work anymore in Venezuela. They can simply ban ASIC miners that are specialised to mine exact cryptocurrencies. CPU mining helps and will help in future to decentralize Monero mining like no other coin.
I am sure there are more things to add. Here is one old infographic for you to see. https://www.monero.how/monero-infographic.jpg  It was made few years ago so many thing are missing but still are some things I did not mention.


Oh I see few guys are concerned that some countries might not allow people to use Monero. https://www.perkinscoie.com/images/content/2/3/237411/Perkins-Coie-LLP-White-Paper-AML-Regulation-of-Privacy-enablin.pdf   Here is legal opinion of law firm that exist 100 years and have 10000 lawyers and made Amazon IPO few decades ago. They proved in this research that Monero can be totally normally used and comply with a laws in USA.