Monero is already starting to bounce. But if you’re still licking your wounds, definitely check this out before you trade, https://simplifiedprivacy.com/loss/
this post was submitted on 07 Feb 2024
15 points (100.0% liked)
Monero
1671 readers
11 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.
Wallets
Android (Cake Wallet) / (Monero.com)
iOS (Cake Wallet) / (Monero.com)
Instance tags for discoverability:
Monero, XMR, crypto, cryptocurrency
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Austrian economists argue that a stable money supply promotes economic stability and allows for rational price signals. It proposes that for money to be stable it needs to be tied to one or more tangible commodities. So all current crypto should be avoided according to Austrian economics. Which makes me wonder, as an Austrian Econ fan, why are you here?
@AlwaysTheir @XmrLovingAncap I do not have a degree in Economics. I used to self-describe as an Austrian. I heard and read a lot about it.
However, I have had to note, ~3 years, we had:
a) stay-at-home + money printing
b) war in Europe + supply chain insanity
which led to
c) big inflation
... which Austrians all predicted would happen.
BUT WE ALSO HAD:
d) the inflation fall back to ~2%
e) the economy surge forward
At this point, "Austrians" need to explain why their theory fails so hard, Sry
The violence based fiat scam currencies are the best at devaluing, as the communist state and dirty central bankers steal value annually through massive inflation and continue to bloat, that's why I'm here.
A currency that keeps increasing in value sounds great when you don't know what you're talking about.
https://www.forbes.com/advisor/investing/what-is-deflation/
I am not advocating for a currency that keeps increasing in value wildly.
Monero has a fixed inflation rate which is fair, predictable, and economically sound.
Fiat currency is a scam that is used by the ruling class to steal value from the public, it can and is inflated at will by criminal psychopaths to fund tyranny and mass murder.
As we saw with the covid scam, they printed trillions and distributed it to execute the tyrannical fiasco. Also trillions have been wasted on endless war and murder all around the world, all made possible by out of control fraud based inflation.
The general public should be able to hold a currency and not lose 50% of their purchasing power in 10 years, this is a fraud. Criminal banker controlled fiat is the worst situation possible.
Monero has an 18.4 million token cap you absolute buffoon, it is deflationary by design and therefore will never be viable as a currency
https://sethforprivacy.com/posts/dispelling-monero-fud/#monero-has-an-infinite-supply
The great theory of a capped inflation omits the fact that economical activity creates value over time.
Your cult is worshipping the same idiocy that helped cause 3 great depressions.
If it actually was a currency, you would never have an incentive to spend it. It's always better to spend it tomorrow rather than today if you can afford it, because your cash holds value.
Something that grows in value over time you don't call it a currency you call it an asset
If an asset's only value is that people believe it has one, and it can be traded, you're making beanie babies.
Enjoy being poor.
You idiotic moron. Money should become slightly more valuable over time or stay about the same value, like gold. You can buy the same thing with an ounce of gold as 1000 years ago, this is money.
The criminal bankers via the communist state are stealing 90% of any value created by economic activity via their inflation scam. You are given crumbs off their table, clown.
Any and all "great depressions" occurred once banking was taken over by the jackals that run the central banks today, you fool.
Look at the historical trend you idiot, the average family is dirt poor compared to the recent past. You could save up for 5 years and buy a new house in the 70's.
You have been raped by dirty criminal bankers, enjoy being a dupe while defending your masters you coward.
Production vs wage gap has fucking nothing to do with what currency you're using
That gap is expressed through two values of a same unit, what does that tell you if you change the unit? You can change the plane all you want, the gap's still going to be the same. Your two curves are literally labelled in percentages.
Take a college economy course
Or even google deflation spirals and the death of the gold standard
https://web.mit.edu/krugman/www/spiral.html
Collage economics is exactly why you are spewing idiotic stupidity, you have been indoctrinated by fraudulent theories while you are bent over by bankers.
The point is since criminal bankers took control of the financial system and the government has implemented communist policies every important metric has been getting worse for the average family.
You could buy a house with 2.5 years of the average salary in the 70's. Today the average income is $60k and average home price is $400k so that is 6.6 years.
The bankers have destroyed the living standard with your college economics. It's time the fiat inflation scam be shut down. Monero is here to do that.
Money should retain it's value so the average person does not get scammed by a criminal financial class and the state cannot fund massive war crimes.
The proportional value of something in relation to your labor is not linked to currency
I could've paid you in xmr in the 70s and you'd still have been able to buy a house in 2.5 years
I can pay you in xmr in 2024 and you still won't be able to buy it in less than 6.6 for the same labor
And you're confusing the purpose of currency with the purpose of assets again
I've given you simple explanations why a deflationary currency is impractical
If you want something that holds value, you buy an asset. If you consider XMR to be an asset, sorry, but XMR's only job is to be a currency, and by being deflationary it does so poorly.
XMR only has value because you guys believe it does. When you all realize that XMR is impractical as a currency, the fact that it is not rooted in real world usages like gold is going to be a problem. You can stop believing gold has value anytime you want, it's still going to be used for its physical properties in microchips and other things.
I for one use a small amount of inflationary currency for my day-to-day shopping, which is the Euro, and it is not supposed to hold value, it is just supposed to be liquid, practical, and inflationary
I then keep the savings in deflationary assets with roots in the real world. Stocks. Real estate. Gold.
You can keep coping. Have fun staying poor.
It's spelled college.
Thanks for the lesson but I understand more about capital appreciation than you ever will, and that is without communist indoctrination.
The only problem is that the economic prosperity of the average person has been destroyed, as I already showed, under a system guided by the insane, out of touch with reality, economic theories.
Again, the average person holds on to money as an asset. That is why real sound money that has intrinsic value, such as gold and Monero is crucial. Monero's value is the utility it provides as currency.
I can easily circumvent the dirty banker's tricks and have done so with great success, I will run circles around you when it comes to wealth and finance. My concern is for all those who are unable to do the same and are being raped by the fiat scam under this nasty communist system.
Generating money out of thin air is a scam, no matter what communist economic theories propound.
I'm happy that you believe that despite all the mistakes you've done in those few posts
Enjoy the cringe looking at those again when you get older
Keep licking boots and making excuses for a deceasing standard of living for most people caused by your idiotic theories while the bankers laugh at you.
You will look back at your failed life and realize you were just a dupe all along who was indoctrinated into stupidity and paid for it.
keep posting pal
You stupid moron, I posted the the chart to show that compensation has not kept up. Because if I did not you would have came back with "wages increase along with inflation"
Then the other chart shows how inflation has destroyed the purchasing power of mostly everyone. If inflation was not at criminal levels then the wage/productivity gap would not really be an issue because people would still be able to afford to purchase everything as before.
You must be some commie faggot.
Got a problem with gay people, moron?
Just commie fags.
As your link mention, Monero has a tail emission of 0.6 xmr every block. So it is inflationary, but in a predictable fashion. In around 120 years the Monero supply should be doubled. Assuming no changes to emissions that is.
If my curve is asymptotic, no one will notice the supply's capped /clueless
The supply is not capped, it increases linearly. Yes, the inflation as a percent goes toward zero. And if the assumption that similar amount of coins is lost is correct, I guess the effect could be no inflation. This is looking at Monero in isolation. With highly inflationary currencies being the norm, prices in Monero might deflate.
Are you a proponent of inflation as a percent of total supply being linear? Or exponential? BTW insulting people in every post does not strengthen your arguments.
You're delusional if you think people can entertain a negative discussion about monero's soundness as a currency on c/monero
And that one guy calls people faggots so probably go eat a dick as well
Austrian economists have never been right about anything.