this post was submitted on 21 Jul 2024
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Monero
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This is the lemmy community of Monero (XMR), a secure, private, untraceable currency that is open-source and freely available to all.
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Despite how bullish i am for monero in general, i have a major concern. Picture the following:
The monero community starts to move heavily into adoption (see what xmrbazaar.com is trying to achieve) and it starts to become widespread, BUT it's still not officially allowed by governments. In fact, imagine that governments start to realize how bad monero is for their own economics and centralized control, and they start to explicitely ban it and enforce penalties for just using it (like any controlled substance). what about then ?
What about that one random farmer (small business, selling products attending to people's basic needs to survive), who wants to accept monero to sell his vegetables, he's going to get bothered by authorities for publicly accepting monero, after getting enough fines, i'm sure he'd actually give up trying to use monero officially.
Going even further down that road, as this would be an attack on the currency itself, what about that one fed guy buying monero (wherever, right, haveno, or whatever CEX) just to find out who's selling monero, to literally prosecute them for just having monero?
Would Monero always remain a way to transact secretely ? rather than existing it as a way to transact publicly ?
This technology is not even meant to conform to any law, nor any governmental concern to assert their control over the populations, in fact, it is a direct threat to their existing control.
Now for me, Monero adoption must be a Bottom-UP process you go from individuals, to small businesses (farmers, bakeries, etc) and try to make monero getting adopted further up into bigger and bigger companies, which is (currently at least) increasingly less likely to get adopted due to financial regulations the higher up you go. Picture the day when those same financial regulations trinkle down all the way to the bottom of the pyramid onto small businesses and individuals, this'll be a very tedious environment just to transact monero
BTW, are you the nihilist? The one with the guides we see around those parts?
yup its me :)