Re:Binance has no proof of reserves for ETH/XRP, inadequate ...
by Nevermark on Saturday November 19, 2022 @02:15AM
(#33667857)
I thought Monero was going to grow in value in some kind of proportion to the term of Russian sanctions.
The total Monero market cap is too small to make a dent in any nations attempt to get around sanctions, but that would mean even a "small" amount of Monero use would pump its cap. And as its cap went up, its ability to process larger transactions would go up.
I still think that is valid long term reasoning, but the crypto market has so many different forces on it, so many hidden dynamics, that it's still better modeled as a casino than tech.
Re:Binance has no proof of reserves for ETH/XRP, inadequate ...
by imtringued on Saturday November 19, 2022 @03:55AM
(#33668400)
The cryptocurrency I "shill" can't be used for speculation in the buy and hold sense. The only way you can make money off of it is by making it less volatile and speculative.
However, I believe that's not what OG was doing. Coins like the one he mentioned are used for illegal money transfers. So they actually have a use case unlike everything else in Crypto.