Let’s talk about Monero..

Cryptocurrency News and Public Mining Pools

Let’s talk about Monero..

In case you're wondering ..NO, I am not here to shill Monero. I don't even hold any Monero. In fact, I didn't even do any research into Monero until today. Please, don't buy Monero just because I am writing this.

If you look at my history, I am completely against shitcoins and the shilling of coins in general. But I have seen an increased number of posts about Monero here in the past few days, some of which do seem like shilling.

For me personally, a project needs to have a purpose and it needs to solve a problem. Even better if it cannot easily be replicated by another project. I am still amazed that people are putting money into coins that have absolutely no purpose other than getting more people to buy it to push up the price. Bitcoin has a purpose, so does Cardano, Cosmos, Ethereum, Chiliz, etc.

Monero (besides having a memorable name), seems to have a purpose like that and seems to solve a problem as well: PRIVACY. From what I understand, people cannot see how much you hold in your Monero wallet and they cannot see who is sending money to who, or receiving money from where. Correct me if I am wrong. I am surprised this isn't a big issue yet with cryptocurrencies. Besides that, it has been around since 2014, so it's unlikely to perform a rugpull anytime soon.

Looking at the charts, I have no idea what happened with Monero after 2018. Why did crash so low and is only now recovering? Does anyone know?

Let's talk more about it. I am interested to hear your thoughts and learn something new. Again, I don't hold any Monero. And please don't buy just because of this post.

submitted by /u/theoakmike
[link] [comments]