05-29-2021, 04:45 AM
Why XMR will wither the storm and survive and become one of the top cryptos.
<!-- SC_OFF --><div class="md"><p>Edit: sorry my brain dead brain through wither was somehow the opposite of what it meant. Cramming for exams next week sooo. </p> <p><strong><em>Decentralization</em></strong></p> <p>XMR is decentralized so no government can take out a large part of it's hash rate by just banning it. It's CPU mineable and ASIC resistant so there are not going to be any large mining farms. It's going to be mainly every day folks mining on their computers making it basically impossible to stop.</p> <p><strong><em>Untracable</em></strong></p> <p>XMR is untraceable, so no government can just simply ban it's use (looking at you China...) and actually be able to enforce it. The moment it leaves a CEX (atomic swaps and DEX bridges to fiat coming soon) they can't do fuck all about it. </p> <p><strong><em>"wHaT iF tHEy deLIsT iT oF tHe exCHaNgEs?!?!"</em></strong></p> <p>Well several large exchanges already don't sell them such as Gemini, Coinbase and Binance US, but that doesn't do fuck all to stop the DEX's and CEX outside the US. Oh and local trades such as LocalMonero....</p> <p><strong><em>Conclusion</em></strong></p> <p>XMR cannot be stopped and unlike most cryptos, it is not centralized in ANYONE's hands, especially not the Chinese government who can shut of 70%+ of the Bitcoin hash rate in a flip of a switch. Not going to talk about how cheap and fast the transactions are here.</p> <p>DYOR</p> <p>TL;DR</p> <p>They can't stop XMR even if they wanted to. Super bullish on XMR, this is not financial advice.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/KingOfNumismatics"> /u/KingOfNumismatics </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/nn4dpt/why_xmr_will_wither_the_storm_and_survive_and/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/nn4dpt/why_xmr_will_wither_the_storm_and_survive_and/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Edit: sorry my brain dead brain through wither was somehow the opposite of what it meant. Cramming for exams next week sooo. </p> <p><strong><em>Decentralization</em></strong></p> <p>XMR is decentralized so no government can take out a large part of it's hash rate by just banning it. It's CPU mineable and ASIC resistant so there are not going to be any large mining farms. It's going to be mainly every day folks mining on their computers making it basically impossible to stop.</p> <p><strong><em>Untracable</em></strong></p> <p>XMR is untraceable, so no government can just simply ban it's use (looking at you China...) and actually be able to enforce it. The moment it leaves a CEX (atomic swaps and DEX bridges to fiat coming soon) they can't do fuck all about it. </p> <p><strong><em>"wHaT iF tHEy deLIsT iT oF tHe exCHaNgEs?!?!"</em></strong></p> <p>Well several large exchanges already don't sell them such as Gemini, Coinbase and Binance US, but that doesn't do fuck all to stop the DEX's and CEX outside the US. Oh and local trades such as LocalMonero....</p> <p><strong><em>Conclusion</em></strong></p> <p>XMR cannot be stopped and unlike most cryptos, it is not centralized in ANYONE's hands, especially not the Chinese government who can shut of 70%+ of the Bitcoin hash rate in a flip of a switch. Not going to talk about how cheap and fast the transactions are here.</p> <p>DYOR</p> <p>TL;DR</p> <p>They can't stop XMR even if they wanted to. Super bullish on XMR, this is not financial advice.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/KingOfNumismatics"> /u/KingOfNumismatics </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/nn4dpt/why_xmr_will_wither_the_storm_and_survive_and/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/nn4dpt/why_xmr_will_wither_the_storm_and_survive_and/">[comments]</a></span>Kind Regards R