Increasing services for monero, and using cryto as actual currency

Cryptocurrencies in general were meant to be used as real currencies to buy stuff, but nowadays cryptocurrencies are used as a get rich quick thing, buy low and sell high. There are actual studies and articles on this(Well for bitcoin, I don't know about studies for other crypto). Most people with bitcoin for example don't use it as currency, even though you hear so many repeatedly say "Bitcoin is the future of finance". They don't seem to make effort to make bitcoin used as a medium to buy and sell goods (Apart from a small minority) It also doesn't help that when people do get rich from this, it gets blown up and others buy with this mindset that they can get super rich. Scams also increase this mindset telling people that they'll get rich if they invest, people realise early, or too late when they lose alot of money. They make cryptocurrencies with the goal of scamming others. Essentially what I'm saying is crytocurrencies don't seem to viewed as actual currency, and this idea could affect whether it has any future at all in the long run. Monero seems to be used as a currency, and the community around it seems more committed to increasing it's use as a currency, not get rich quick scheme, and it's value seems to be quite stable. There are sites like monerica, that show merchants that accept monero, which is a good start. But also something I noticed in monero stores, is that even though the price of something was based in monero, it was actually based on some other currency. So for example, something would be determined to £30 in price, and the price would be set to the monero equivalent of that. So for example, as of writing this according to coinmarketcap the price of £30 is 0.25888803 XMR. If then after perhaps a few days if £30 pounds could be exchanged for lets say 0.23 XMR, then the price would be changed to 0.23 XMR. Do you check the price of another currency to determine how much something is? You might if you've moved to another country with a different currency, but once you get used to said currency, you'll be thinking in said currency. It seems the intent of this, is to eventual sell the crypto for regular currency. So what strategies could one use to increase adoption and usefulness of monero as a cryptoCURRENCY not some weird investment item? I guess as shown above I think that stores could encourage this by only accepting monero, and also setting a fixed price in XMR for some item, instead of using exchanges to check price in regular currency and adjusting. Also perhaps setting up small stores that sell items that people need in their daily lives in monero. instead of intangible products like software. Software is useful but there needs to be more hardware and physical products. What do you guys think? Anything I may have misunderstood? I'm still learning more about monero so I don't know too much yet

>>24115 The surprising story of crypto payments adoption is, most of that is happening in developing nations, using USD stablecoins rather than cryptocurrencies with their own value. The likely reason for this is that the people there have pressing everyday financial problems caused by corrupt and nonfunctional banking systems and this presents the least friction for them, because of the status of the dollar as global reserve currency and everyone being familiar and comfortable accepting it. What this means for what the path to adoption of native crypto assets for payments, I'm not totally sure. But I wouldn't worry too much about speculative gamblers; those people didn't need crypto payments to begin with. Monero is used for payments, but mostly illicit, because it solves a serious and pressing safety problem for those sorts of transactions. For it to gain adoption otherwise I think would require the same, some practical problem that people have which it is the clear working solution to. One angle on that which seems a little interesting to me is, a lot of people are upset as there is a growing awareness that PayPal Visa etc. are selling everyone's transaction history to advertisers and anyone else who may want it. That might not be enough to convince people to start using private crypto, but for people who genuinely care about that it could be a reason to use it that isn't crime.

>>24116 I didn't even know that about Visa and Paypal. I assumed that financial things would stay private (unless governments requested) but I didn't know advertisers were receiving this info as well. Perhaps in the future there may come a time or strong reason for huge adoption of monero, however someone still needs to set up markets and infrastructure for legal and useful products to buy using it (Perhaps an ebay but for monero only payments). At the moment there seems to only be mainly infrasture for buying software/digital products (legal and illegal) and drugs on darknets. There are some legal physical goods that can be bought, but they seem to be quite small.

>>24116 While it might reduce problems if laws were passed on selling that information there is still the issue the US government requires transactions over an arbitrary amount to be reported to them and banks and credit card companies give far more info than required as a safeguard against themselves getting in trouble. A few years ago PayPal also started being required to report to the government as well. So something like Monero could never become normal currency because it doesnt fit with existing laws.

>>24118 I don't think it's worth trying to get laws passed to force PayPal etc. to respect user privacy since neither the government nor payment providers want people to have privacy and such laws wouldn't be practical to enforce (like even if the company didn't openly misuse the data they can always get 'hacked' and leak it). Rather what I'm suggesting as a solution is for people who don't like their financial data being traded as a commodity to use private cryptocurrency instead of PayPal. It is not illegal for people to do that unless maybe if they're in Europe or something, so I'm not sure what you mean by saying it doesn't fit with laws.

>>24119 But there is a good argument for changing the amount that is required to be reported to the government which I think could be possible to enact because the amount was arbitrary and wasnt set to adjust sith inflation. Beyond that yes, probably not.

>>24118 Not the person you replied to but monero transactions can be made anywhere. One place may restrict or prevent transactions, but others elsewhere may develop markets for it, and then you could by from said market online(who doesn't have an online store to buy from nowadays). Not only that someone could bypass such a ban using VPNs or Tor to download wallet software, then make a payment on a market that accepts crypto. If the item purchased isn't illegal, i doubt anyone will looking to see who the item came from and what store was it came from. China has placed bans on cryptocurrencies and made crypto-transactions illegal and yet many people still trade using it

>>24122 Well I mean problem is no Us based business can sell anything over $10K because the law requires they report the information of the purchaser over that amount. Monero also acts like stock ownership and if it is found you own Monero there is a risk of being audited.

monero cant work. none of these coins can work. blockchains dont work and never will. dont get your hopes up about monero ever seeing widespread adoption outside of drug trafficking and instead lets maybe try focusing on the real core issues of our late stage capitalist hellscape instead of leaving it all to moronic 20 something year old silicon valley-funded libertarian techbros. a horribly slow blockchain does not scale at all to becoming "widespread" and they are just as centralized as the payment processers that everyone bitches about. moneros developers are the ones that own monero. they get to decide where development goes. dont like something about it? guess what, no one is gonna care about your fork because why would people want to risk using a fork no one else might use because everyone is already on the "main" version? see the dumpster fire that is ethereum and the ethereum classic fork. the big players in ethereum decided their version of the chain was the "real" version, so everyone uses that despite it not uploading the "code is law" principles that everyone shouts about.

>>24162 Monero will continue to raise adoption as long as governments continue to violate people's privacy. Once physical cash becomes illegal, XMR will be the only currency left that allows you to use it without identifying yourself. Monero already fills a niche, which is why people pay a lot of money for it. It is decentralized, and unless the feds infiltrate it from the inside I don't see any plausible way a "fork" could gain any traction. I don't know much about Ethereum, but isn't there whole thing about "contracts"? So I could see how that extremely broad concept could have different interpretations.

>>24162 A private payment mechanism (in the sense that payers are anonymous) is possible and could work just as well for drug dealers as it does for regular shops, and works just as well for monero as it does for "USD" (aka numbers in a bank computer), making the slowness of the blockchain a complete non-issue just as the slowness of the international banking system is a complete non-issue. GNU taler https://taler.net

At some point monero will have to be replaced by something scalable. I imagine some zero-knowledge proof based system where the new blockchain is some function of old blockchain plus new transactions that then throws away the remaining history and stays the same size. Hopefully with some programmability also so that one can make private decentralised marketplaces. >>24165 Cannot take GNU taler seriously as it says there is no privacy for merchants to prevent "tax evasion and drug dealing".

>>24173 >Cannot take GNU taler seriously as it says there is no privacy for merchants to prevent "tax evasion and drug dealing". I don't think it's even possible for them to change the protocol to give merchants privacy. Buyers have an extremely strong form of privacy in Taler. In any case, it could be used by a darknet market just as well as it could be used by a 'legitimate' business that pays its taxes.

>>24173 >>24173 >At some point monero will have to be replaced by something scalable. I imagine some zero-knowledge proof based system where the new blockchain is some function of old blockchain plus new transactions that then throws away the remaining history and stays the same size. Hopefully with some programmability also so that one can make private decentralised marketplaces. When such a thing exists, monero will adopt it. It already uses zero-knowledge proofs so you probbly dont know what that actually means. A fork toward a better system without ring signatures is already in the works, likely Full Chain Membership Proofs.

>>24242 >When such a thing exists, monero will adopt it. if you say so buddy. there is no reason to keep using monero when something better comes along, so the only way it will stay relevant is if it is the first to make our lives easier. at the moment it takes way too long to sync the blockchain before making a transaction, takes up a ton of disk space, and requires shady 3rd party markets that keep exit scamming.

>>24117 >tfw utility companies and ISPs sell your info to advertisers and think they are the same service providers as facebook or google. >>24119 >>24120 Isn't the main reason the government does not get involved because that would legitimize these services? Like as long as they pretend that it's just monopoly game money that they can ignore it until it gets converted to real currency? I think the requirement for reporting also comes from the idea that a specific value for exchange has been created that is equivalent to a monetary value, not just that someone has traded something of large value for something of arbitrary value. I could trade you 10 cum socks for your car, but that does not mean that it automatically becomes a reportable transaction, unless I establish that a cum sock is work 1000 USD, so now the transaction is valued at 10k USD, especially if I say that you can invest your money in said socks to grow your wealth.

My homie fuzz uses some random crypto point of sale app on some old ass phone like almost a decade old. That crazy muhfugga been sellin' mags with 28 9mm hollow point pre-loaded for Monero and that inventory be flying frfr.

>>24254 I think it would be hilarious to create a "super sekrit crypto transaction application" that just links to peoples pay pal and is just a front page for pay pal with transaction fees added. How many criminals would use it thinking it's secure when really it's just pay pal with extra steps. Remember when INTERPOL set up that sting operation with an encrypted chat app that was backdoored and all of the contributing governments just mass harvested everyones data? There are plenty of techniques for tracing crypto, especially when used for more mainstream transactions.