It includes but doesn't necessarily mean those things. It also means "off the books", "under the table", "unofficial", legal status unclear, or innocuous practices that are technically illegal but everyone does it. This is a way of life for most people in those places.
Yes, I agree. Right now Monero is just an intermediary tool to get fiat. What I'm saying is where will the cash market go as it continues phasing out? Probably stable coins like USDT and USDC at first. We already see this. But when regulations start tightening around those, and freezing becomes much more common, there are not many options left aside from Monero.
I can only think of one other; DAI. It is permissionless, but it is backed in large part by permissioned stables that could destabilize it by freezing any collateral DAI holds. Also, as chain analysis industry grows, and tools for them improve, there will be a greater need for privacy and anonymity which DAI does not provide.
I don't think it is likely that Monero will ever be adopted at large, but a significant chunk of the economy outside of white markets seems very plausible imo.
SaberhagenTheNameless / Saberhagen The Nameless
npub14a…yz6rn
2024-03-14 21:02:27
in reply to nevent1q…77vx
Author Public Key
npub14a6q6xvt4wuv0wpdpfr336e4fweldtu6np3ehpw55h83xuw2h2zsgyz6rnPublished at
2024-03-14 21:02:27Event JSON
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"content": "It includes but doesn't necessarily mean those things. It also means \"off the books\", \"under the table\", \"unofficial\", legal status unclear, or innocuous practices that are technically illegal but everyone does it. This is a way of life for most people in those places.\n\nYes, I agree. Right now Monero is just an intermediary tool to get fiat. What I'm saying is where will the cash market go as it continues phasing out? Probably stable coins like USDT and USDC at first. We already see this. But when regulations start tightening around those, and freezing becomes much more common, there are not many options left aside from Monero.\n\nI can only think of one other; DAI. It is permissionless, but it is backed in large part by permissioned stables that could destabilize it by freezing any collateral DAI holds. Also, as chain analysis industry grows, and tools for them improve, there will be a greater need for privacy and anonymity which DAI does not provide.\n\nI don't think it is likely that Monero will ever be adopted at large, but a significant chunk of the economy outside of white markets seems very plausible imo.",
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