Crypto飞哥
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Why do I believe in Monero (XMR)???
The first question, why is Bitcoin (BTC) not safe and anonymous?
Your money has to go through KYC to enter the exchange, exchanging fiat currency for BTC or USDT. BTC transaction records are publicly accessible. Then, from the exchange, BTC is converted back to fiat. The transfers in between are anonymous because they are addresses, but both ends are fiat, and going through the exchange is real-name verified. As soon as you cash out, you will be caught.
The second question, why is Monero (XMR) safe?
As mentioned, the intermediaries in BTC transactions are all public, meaning that A transfers to B can be associated.
However, Monero (XMR) uses anonymous technology called ring signatures, currently with 11 rings, which prevents people from knowing that A transfers to B. This means that even if both ends going through the exchange know who it is, no one can prove that it was A who sent it to B, and no one can link A and B together.
The third question, what is cryptocurrency used for?
Since it is called cryptocurrency, the purpose is to serve as money, as a general equivalent. The goal of decentralization is to avoid reliance on a particular government issuing currency that affects inflation.
In other words, as long as the internet exists and the belief in decentralization persists, cryptocurrencies will not disappear. Therefore, I have always regarded digital currency as a hard currency like gold, but more convenient to use than gold.
The fourth question, applications.
There is a saying that "Monero is what Bitcoin noobs think they bought" - Dr. Daniel Kim. It means that many people mistakenly believe that Bitcoin has the anonymity and privacy features that are actually possessed by Monero.
This resolves the issue of 100% privacy. One must think about who will use it? Extreme privacy enthusiasts, unmentionable transactions. As long as there is application, the coin will have a market, and clearly, the flow of funds in the dark is the biggest driving force.
The last question, the future.
First is the ecosystem. Monero solves the anonymity and privacy issues, but its ecosystem is evidently not as strong as ETH and BTC. How to resolve this? Atomic swaps have arrived. XMR and BTC, ETH atomic exchanges have come, solving the final mile of balancing ecosystem and privacy. It also addresses the legal issues of exchanges not allowing direct Monero to fiat transactions.
Additionally, the RandomX algorithm resists ASIC and GPU mining, and wallet apps come with mining that encourages personal PCs to contribute idle CPUs, promoting an environmentally friendly and unwaveringly decentralized system.
Thus, Monero is faith; it is the capital for survival in asset allocation.
The first question, why is Bitcoin (BTC) not safe and anonymous?
Your money has to go through KYC to enter the exchange, exchanging fiat currency for BTC or USDT. BTC transaction records are publicly accessible. Then, from the exchange, BTC is converted back to fiat. The transfers in between are anonymous because they are addresses, but both ends are fiat, and going through the exchange is real-name verified. As soon as you cash out, you will be caught.
The second question, why is Monero (XMR) safe?
As mentioned, the intermediaries in BTC transactions are all public, meaning that A transfers to B can be associated.
However, Monero (XMR) uses anonymous technology called ring signatures, currently with 11 rings, which prevents people from knowing that A transfers to B. This means that even if both ends going through the exchange know who it is, no one can prove that it was A who sent it to B, and no one can link A and B together.
The third question, what is cryptocurrency used for?
Since it is called cryptocurrency, the purpose is to serve as money, as a general equivalent. The goal of decentralization is to avoid reliance on a particular government issuing currency that affects inflation.
In other words, as long as the internet exists and the belief in decentralization persists, cryptocurrencies will not disappear. Therefore, I have always regarded digital currency as a hard currency like gold, but more convenient to use than gold.
The fourth question, applications.
There is a saying that "Monero is what Bitcoin noobs think they bought" - Dr. Daniel Kim. It means that many people mistakenly believe that Bitcoin has the anonymity and privacy features that are actually possessed by Monero.
This resolves the issue of 100% privacy. One must think about who will use it? Extreme privacy enthusiasts, unmentionable transactions. As long as there is application, the coin will have a market, and clearly, the flow of funds in the dark is the biggest driving force.
The last question, the future.
First is the ecosystem. Monero solves the anonymity and privacy issues, but its ecosystem is evidently not as strong as ETH and BTC. How to resolve this? Atomic swaps have arrived. XMR and BTC, ETH atomic exchanges have come, solving the final mile of balancing ecosystem and privacy. It also addresses the legal issues of exchanges not allowing direct Monero to fiat transactions.
Additionally, the RandomX algorithm resists ASIC and GPU mining, and wallet apps come with mining that encourages personal PCs to contribute idle CPUs, promoting an environmentally friendly and unwaveringly decentralized system.
Thus, Monero is faith; it is the capital for survival in asset allocation.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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