A place to discuss privacy and freedom in the digital world.
Privacy has become a very important issue in modern society, with companies and governments constantly abusing their power, more and more people are waking up to the importance of digital privacy.
In this community everyone is welcome to post links and discuss topics related to privacy.
Some Rules
- Posting a link to a website containing tracking isn’t great, if contents of the website are behind a paywall maybe copy them into the post
- Don’t promote proprietary software
- Try to keep things on topic
- If you have a question, please try searching for previous discussions, maybe it has already been answered
- Reposts are fine, but should have at least a couple of weeks in between so that the post can reach a new audience
- Be nice :)
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How does Monero avoid the problem of Bitcoin? Of just being used for investment and not currency?
Low fees, a focus on privacy, not calling itself “digital gold”
But is it still deflationary? I may be wrong, but I feel like any currency that is deflationary over inflationary encourages hoarding instead of spending.
Just because it’s deflationary doesn’t mean that it’s not spent primarily because you still need electricity, food, gas, and other things. So you are forced to spend it whether you want to or not. Monero itself is not technically deflationary as 0.6 new coins are released every 2 minutes forever. What you end up with is that Inflation asymptotically approaches zero until an equilibrium is reached where new coins are created at the same rate that coins are destroyed through negligence, etc. Right now, Monero has an inflation rate of about 0.85% and falling all the time.
OK that’s pretty cool actually. I hope it works out without the pitfalls of Bitcoin and other crypto.
Nothing’s ever certain in the future. But at least for the last 10 years, it has worked. And I think it will continue to work. I think the main problem with Bitcoin is the people using it are so locked into “oh this is the best and there’s nothing better” that they can’t see the problems. If something came along that made Monero look like a child’s toy, and it was that much better, I would switch, not die on that hill.