this post was submitted on 02 Feb 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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@RealBot it’s called being currency
Just that
Nothing else
Ok yeah, sure.
But just being currency isn't enough for currency to be stable. So i dont see how that should affect its stability. The major reason why regular currency is stable is because it is already widely used.
What's the use case of dollars besides currency? Euros? Yuan?
They're stable because they're used. Are they really stable? Or do they appear stable because you get paid a set rate an hour in them? When prices are going up at the store, are they stable? When the price of computers goes down, are they stable? Is what stability they have a natural occurrence of their widespread use, or the result of central bank manipulation?
Sure, they are not perfectly stable, there is always inflation (sometimes more, sometimes less).
But its not as volatile as crypto. In last 24h difference between monero high an low is ~2% (which isnt terrible by itself but on a longer period its larger difference) and regular currency effectively has almost no volatility in 24h period.
Acording to google 1 year inflation was ~3.4% for dollar. (so probably diff hig low is just a bit higher) Difference between monero 1 year low an high was greater than 20%. So monero is something like 6 times more volatile. (and i am not talking about inflation, but volatility)
So its not exactly the same situation regarding stability.