The reasons why it isn’t suitable to be used as a currency are exactly what I listed, and you failed to interrogate …
My original point I meant to make was just that your first argument, XMR = bad because NFTs/FTX/Luna was either that you didn’t understand the differences of them, or that you did and were presenting a disingenuous argument.
The other points are more of a come to your own conclusions type of deal. But, if we’re on the topic:
Volatility? I’d point out that, yes, it’s volital like every other thing that’s new. It’ll figure out a stable price (what price that’ll be, or if it’ll be 0, I can’t say). New tech and volital speculative markets and all that, churning out crap and jems alike.
Anonymity, consumer protections, & no transaction reverses? Again, cash, see what my take on it is above. + If tracking serial numbers stopped crime they’d be doing that already.
Energy useage? Yup, there’s a lot, and that’s a good criticism. But as these things grow there’s work towards more efficient models. Also, it’s not like everything else (from mining gold to making a PlayStation) uses energy in an often inefficient way.
No use as a currency? There’s already a growing amount of using it as a currency. A lot of people are talking about the “Monero circular economy” with the idea being a community both earning and spending Monero amongst themselves. There’s also a surprisingly large amount of merchants accepting Monero compared to a few years ago, and a large number of crypto services (including Monero) that offer a middleman type service to allow you to spend XMR and have a business get fiat.
Political statement? Ease of use? Social experiment? Ideological preference? Spending crypto you were paid in? A stand in until more merchants accept Monero directly? For no reason, but it’s not hurting anybody and it’s not illegal so why not?
My original point I meant to make was just that your first argument, XMR = bad because NFTs/FTX/Luna was either that you didn’t understand the differences of them, or that you did and were presenting a disingenuous argument.
The other points are more of a come to your own conclusions type of deal. But, if we’re on the topic:
Volatility? I’d point out that, yes, it’s volital like every other thing that’s new. It’ll figure out a stable price (what price that’ll be, or if it’ll be 0, I can’t say). New tech and volital speculative markets and all that, churning out crap and jems alike.
Anonymity, consumer protections, & no transaction reverses? Again, cash, see what my take on it is above. + If tracking serial numbers stopped crime they’d be doing that already.
Energy useage? Yup, there’s a lot, and that’s a good criticism. But as these things grow there’s work towards more efficient models. Also, it’s not like everything else (from mining gold to making a PlayStation) uses energy in an often inefficient way.
No use as a currency? There’s already a growing amount of using it as a currency. A lot of people are talking about the “Monero circular economy” with the idea being a community both earning and spending Monero amongst themselves. There’s also a surprisingly large amount of merchants accepting Monero compared to a few years ago, and a large number of crypto services (including Monero) that offer a middleman type service to allow you to spend XMR and have a business get fiat.
So you buy Monero with fiat, just to convert that Monero to fiat again, so the vendor can receive fiat? What for?
Political statement? Ease of use? Social experiment? Ideological preference? Spending crypto you were paid in? A stand in until more merchants accept Monero directly? For no reason, but it’s not hurting anybody and it’s not illegal so why not?
Pick any of the above.