Normalizing Monero Usage
Will the success of a parallel economy be contingent upon this encrypted cryptocurrency?
As the ‘US dollar digital currency’ is being pushed onto the populace, one might expect a rise in cryptocurrencies, but one should also anticipate a reaction by the federal gov’t to track down on cryptocurrency transactions. This is easy to foresee, seeing how the regime wouldn’t want anything or anyone to detract from their stranglehold on Americans’ money. With that said, how secure will oldhead cryptos like BTC (and any other) hold up without a blockchain that doesn’t go the extra mile in protecting it’s userbase? Transaction encryption.
“…anticipate a reaction by the federal gov’t to track down on cryptocurrency transactions. This is easy to foresee, seeing how the regime wouldn’t want anything or anyone to detract from their stranglehold on Americans’ money. How secure will oldhead cryptos like BTC (and any other) hold up without a blockchain not going the extra mile in protecting it’s userbase? Transaction encryption.”
It’s that last question which has me pivoting towards Monero (XMR) as the superior crypto. Granted I am a slight novice at this, but anyone trading with Monero arguably has a more basic understanding around crypto than the typical trader of any other coin. There’s a few extra steps it takes to trade XMR, but a little bit of devotion has made me understand the concept of it all a lot better. *These few extra steps may be off-putting at first, so this can be an obstacle preventing new users from joining — although I have also yet to see a video (or even a written explanation) that simplifies the process to a hassle-free experience for even gramps and grandma. ***A how-to article for the sole purpose of helping everyone set up their first XMoneRo wallet.
The only real obstacle I see to the success of Monero (and this is a bit tongue-in-cheek) is the fact that the network runs on ‘nodes’ referred to as a ‘daemon’, which is the ‘blockchain interface’/’Monero network’…… Whether that’s pronounced ‘damon’ or ‘demon’……? Still not sure. It’s all semantical nonsense on my part, but still had me questioning why this particular term and wondering what others might think about it; especially those of a nondemonic belief.
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Despite this miniscule semantics issue, the main problem remains of can we expect the gov’t to begin cracking down on cryptocurrency? My answer here is to simply not take the chance. Encrypt it or imprisonment — there’s a cool catchphrase that’ll surely resonate with the masses.