this post was submitted on 02 Feb 2024
5 points (69.2% liked)

Monero

1662 readers
9 users here now

This is the lemmy community of Monero (XMR), a secure, private, untraceable currency that is open-source and freely available to all.

GitHub

StackExchange

Twitter

Wallets

Desktop (CLI, GUI)

Desktop (Feather)

Mac & Linux (Cake Wallet)

Web (MyMonero)

Android (Monerujo)

Android (MyMonero)

Android (Cake Wallet) / (Monero.com)

Android (Stack Wallet)

iOS (MyMonero)

iOS (Cake Wallet) / (Monero.com)

iOS (Stack Wallet)

iOS (Edge Wallet)

Instance tags for discoverability:

Monero, XMR, crypto, cryptocurrency

founded 1 year ago
MODERATORS
5
pitching an idea (monero.town)
submitted 9 months ago* (last edited 9 months ago) by [email protected] to c/[email protected]
 

I have written before about the need to stabilize the Monero price to promote wider usage. My idea is to create a service like i mentioned in that post where a product would be listed with a stable price for a week at a time and reserves would be kept to keep the price stable while the spot price is below the stable price. I will not hide that you may pay more for the product if spot price is higher, but you would also pay less if the spot price was lower (to a minimum reserve anyway).

Would you be interested in such a service?

As an example, at the time of writing a 12oz bag of gratuitas coffee is 147.54mXMR where this service would have it at 154.23mXMR (+4.51%) until Monday when the price would update again.

Edit: an extremely crude example can be found at feder8.me. It is not an SSL site but it has nothing private anyway.

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 3 points 9 months ago

it needs organic stability and you're also comparing the stability with fiat.