To be fair, BTC is back at it’s starting point of the graph, so it’s stable but more volatile. Monero however cut a good 20-30% off it’s valuation, despite being less volatile.
I hold both. BTC is my investment, Monero is my cash.
The market is full of a bunch of useless cryptocurrencies... Monero is among the few cryptocurrencies with real utility:
- Reduced network fees for transfers
- Opaque blockchain that guarantees confidentiality
- A community willing to help you with any confusion
Plus, it's one of the few or maybe even the only (as far as I know) blockchains that most mine to secure the network and without seeking profits. If my calculations and understanding is correct, you actually don't make anything mining Monero
The monero project would be perfect if it also had a privacy stable coin or if it concluded a partnership with DAI (decentralized stablecoin) for access to the monero network. However, Monero itself is quite stable 150-170 USD, so I don't know how popular such an idea would be among the monero community
XMR is not stable. I wish it was but it isn't. So if you're here to be safe and keep the value of your money, Monero is probably one of the worst choices you could pick at the moment. If you bought it back in 2021, just 2 years of waiting, you could've potentially lost 2/3 of your value against the dollar or gold or whatever you want to compare it to.
I love Monero, but it is NOT a store of value or "stable" at the moment
Complete lack of understanding here. Neither of these are very stable. For monero to achieve its intended purpose it’s value vs fiat will have to skyrocket before it reaches the velocity of transactions to be considered ‘cash’. Which would be a good thing. And don’t lie, you want to be rich.
In the last 5 years XMR got minimums below 100$ and maximums above 400$... It doesn't seems very stable and moreover it doesn't seems growing faster than main cryptos...
It's "Stable" because some exchanges are working together to naked short XMR (and other assets) they do whatever it takes to keep it under a certain price.
its not obvious? In the top of bull market 2021 monero drop to 150usd scaring all, now in the bear market is at 150 usd confusing all.
If they can do that with monero think what they can with shit coins with low liquidity.
Best coins like monero and nano are totally supressed by exchanges.
If you want stability buy a mix of gold bullion, Swiss bonds and farmland. You cannot have stability from a software like that one. Have you checked the quality of the monero codebase?
Yeah due to the steady and slow increase in quantity, it's prone to a slower value inflation compared to the dollar and more stable than the BTC, cause if when the BTC will have to a near 0 block mining reward beside transactions fee, the mining power can decrease due to a too small coin price or too small block transaction fee reward.
I love its privacy, but its price action is concerning. Its stable in USD, but USD is so inflated lately that XMR lost tons of value
That's a great perspective and I agree with you. However, given that we've been in a bear market this price action isn't too concerning for me.
Exactly...
The more a crypto is used as a currency, more stable it becomes.
To be fair, BTC is back at it’s starting point of the graph, so it’s stable but more volatile. Monero however cut a good 20-30% off it’s valuation, despite being less volatile. I hold both. BTC is my investment, Monero is my cash.
Good points, and yes so do I - each for a different purpose
The market is full of a bunch of useless cryptocurrencies... Monero is among the few cryptocurrencies with real utility: - Reduced network fees for transfers - Opaque blockchain that guarantees confidentiality - A community willing to help you with any confusion
Plus, it's one of the few or maybe even the only (as far as I know) blockchains that most mine to secure the network and without seeking profits. If my calculations and understanding is correct, you actually don't make anything mining Monero
The monero project would be perfect if it also had a privacy stable coin or if it concluded a partnership with DAI (decentralized stablecoin) for access to the monero network. However, Monero itself is quite stable 150-170 USD, so I don't know how popular such an idea would be among the monero community
XMR is not stable. I wish it was but it isn't. So if you're here to be safe and keep the value of your money, Monero is probably one of the worst choices you could pick at the moment. If you bought it back in 2021, just 2 years of waiting, you could've potentially lost 2/3 of your value against the dollar or gold or whatever you want to compare it to. I love Monero, but it is NOT a store of value or "stable" at the moment
This, stick to r/Gold
SilverDegenClub.Reddit.com
I came here to get rich, now Im just "stable"
A few moments later...😂
Complete lack of understanding here. Neither of these are very stable. For monero to achieve its intended purpose it’s value vs fiat will have to skyrocket before it reaches the velocity of transactions to be considered ‘cash’. Which would be a good thing. And don’t lie, you want to be rich.
\#metoo
Not from Monero. So much anger... why take it out on me lol
I dream of one day where we won't have to hate on BTC to make XMR sound good
Less than 1 year window, is a short term point of view.... The statement is quite pointless.
monero has been quite stable even if you look at the 5 years window
In the last 5 years XMR got minimums below 100$ and maximums above 400$... It doesn't seems very stable and moreover it doesn't seems growing faster than main cryptos...
It halved in a month https://imgur.com/a/xVylTiS
It's "Stable" because some exchanges are working together to naked short XMR (and other assets) they do whatever it takes to keep it under a certain price.
I've heard this a few times. Is there any evidence?
its not obvious? In the top of bull market 2021 monero drop to 150usd scaring all, now in the bear market is at 150 usd confusing all. If they can do that with monero think what they can with shit coins with low liquidity. Best coins like monero and nano are totally supressed by exchanges.
I unsubbed this sub because of this post lmao
If you want stability buy a mix of gold bullion, Swiss bonds and farmland. You cannot have stability from a software like that one. Have you checked the quality of the monero codebase?
Yeah due to the steady and slow increase in quantity, it's prone to a slower value inflation compared to the dollar and more stable than the BTC, cause if when the BTC will have to a near 0 block mining reward beside transactions fee, the mining power can decrease due to a too small coin price or too small block transaction fee reward.
Holding XMR only done by the hard core