Monero Economy

[Sakabana]

The economy could use some work but that can be said about any coin I'd say.  All I know is I wish I had bought on the last dip.  Just like any other coin timing is everything!

[vilann987]

Anonymint, you post a lot, do you mind if I try to get my head around your argument?

[Jeka_2511]

I think I mostly like the idea of a convertible subsidy which can even disappear if the network no longer needs it, but one that reappears when it is needed.

[Febo]

I think since 100s of people have XMR trapped in mymonero wallet and its ran by a core dev they are suspecting the whole ecosystem is fraudulent

You can not have your money trapped in my monero wallet.   You can use your mnemonic seed you got when created wallet and us it in any other Monero wallet and use your Monero if you have any problems with My Monero wallet.   There was lots of such FUD made and your post sort of contribute to it if you planed or not.

There is no reasons for anyone to use MyMonero wallet. I use it for 2 years because is super simple and super safe.

[stronggirl306]

Anonymint, you post a lot, do you mind if I try to get my head around your argument?

[jsadn191919]

Distribution is very important, because Metcalf's Law tells us that usage scales as the square of the number of users. Peter R had even shown that the Bitcoin price is scaling by Metcalf's Law. This is observed fact not just theory.

[stickkelsey]

After reading this whole thread and some topic on reddit i understood that there is no monero economy. Everything seems to be a fake. I'd rather invest all my money to BCN. Coz all of MRO's homies are doing the only business - talking about how smart they are, but in fact BCN team IS the team who work hard, and it’s their right not to communicate if they choose not to.

[sunrise.now]

I actually think that transaction fees will be enough to support the miners without subsidy, because the miners will only process transactions with the highest fees. This will turn transactions into bidding wars, and it will become extremely expensive to get a transaction included in a block.
This is why I don't think a fixed block reward system will be sustainable long term, because as inflation trends to zero, miners will be less satisfied with the reward and become more picky with tx fees. We need a proportional (percentage based) inflation. However, I'm not sure how much would be suitable.

[blue_id69]

Monero is the most popular digital currency of darknet and ensures high degree of anonymity on every transaction. It uses an obfuscation technique based on an algorithm that adds a code to each of its transactions. This technology makes it impossible to prove the involvement of certain users even when the information is intercepted and translated. And I've heard about Monero Economy. A good market is worth a good coin. It has a certain place in the market and will be much better in the future. Monero is a good Altcoin to invest.

[alaska2930]

I suppose the obvious answer is Monero will be used for private cash like transactions on social networks...  But my point is the other uses will pave the way for this.  We don't need that functionality first.

[huyentrang08000]

I have an incentive to contribute in that way, because we all benefit from hashing out the ideas.
I meant those who have implored me publicly and privately to contribute actual programming effort. So now they have my answer.

[kulanumbua9x]

There have been a lot of discussions why the community chose Monero over Bytecoin. Bytcoin was 80% secret-mined for example. You can be sure that just a few people have like 50 % of all Bytecoins which will ever exist.

[truong.bui45]

It is somewhat controversial because people have various pet economic theories about how "currencies" are supposed to be. These have little to nothing to do with the technical issue of maintaining a distributed proof-of-work blockchain (which I happen to think requires a mining reward, though I acknowledge that some believe transaction fees can work), so in a sense the two sides are often talking past each other.

[Mery Gason]

I really want to buy Monero. But now the price is still high on this coin. I think that this year it will be possible to see another price lower by 20-30%.

[lashd08127hh]

I suppose the obvious answer is Monero will be used for private cash like transactions on social networks...  But my point is the other uses will pave the way for this.  We don't need that functionality first.

[Tom Shelby]

It seems to me that Monero is a very secure crypto currency. I think that the price is now very good and you need to invest in Monero.

[sunrise.now]

I actually think that transaction fees will be enough to support the miners without subsidy, because the miners will only process transactions with the highest fees. This will turn transactions into bidding wars, and it will become extremely expensive to get a transaction included in a block.

[Robinovich]

I've just read that change.org is going to mine Monero for charity. They launched a screensaver that mines while the computer is not being used. And as far as I know UNICEF does something similar.
That's a big step towards the better world not only for Monero, but for crypto in general. I'm so excited about it.

[Qtigero]

you see what you do there isn't that right? you are contrasting 4,2 million dim coins with 18 million mro - afaik the aggregate supply of darkcoin after the finish of mining will be 21 (or 18) million dull. for this situation you could essentially take the cost of both and contrast them 0.00175 with 0.00375. dim market top is for this situation no less than 2,25 higer than the one of monero.

[Silber]

Monero’s former maintainer arrested in the US for allegations unrelated to cryptocurrency

An arrest warrant for Riccardo Spagni was issued on July 20, 2021, at the request of the South African government. He was apprehended the same day in the United States.

https://cointelegraph.com/news/monero-s-former-maintainer-arrested-in-u-s-for-allegations-unrelated-to-cryptocurrency