Agree to most, but I don't get " Use a currency that rewards saving (good behavior)". Care to explain?
Why Should I Care About Monero?
palexander posted this 9 years ago
This list originally appeared on Reddit and was a Bitcoin specific list. I have modified it slightly regarding Monero. If anybody wants to add to it or edit it, feel free. You can also list Monero negatives as well, although in this forum I doubt many will do that. :-) I can edit the original post with your additions or changes.
● CONTROL; you are FULLY in control of YOUR money
● Freedom; other people can’t vote your money away
● Support the separation of state and money
● No middlemen; bitcoin dis-intermediates the financial world
● Very low transaction fees (Cents to move millions)
● No borders; send money to anyone; access anywhere
● No transaction delays; propagation time (A few seconds)
● No business hours; control your money 24/7
● No minimum account balance
● No overdrafts (predatory fees: $32B /year in US)
● No risk of identity theft ($1.5B /year in US)
● No minimum age; it's the currency of the next generation
● No bank runs; for that matter, no walks to the bank either
● No bank holidays; just a lifetime holiday from the banks!
● No capital controls
● No hidden taxation
● No bank bail-ins
● No paperwork
● No chargeback fraud; fast settlement (~10min, soon faster)
● Permissionless innovation; build the next financial app
● Real world privacy; digital assets without a registered name
● No social exclusion; poor people can use bitcoin
● No censorship; send money to anyone
● No account freezes or levies
● Opt out of fiat and boycott the banks & government
● No dealing with bankers; no supporting the war dollar (one of my personal favorites, although you are still part of the war dollar if you get taxes taken out by your employer)
● No lost/manipulated records; immutable ledger entries
● Possibly worth a lot (>$1T market cap) in the future.
● Monero is a anti-fragile technology; it gains from disorder
● Monero is open source; it evolves and improves daily
● Monero is still earlystage; huge potential innovation
● Monero works with existing infrastructure (XMR.to, shapeshift.io)
● No counterparty risk; its decentralized
● Not fractional reserve; not a debt based economy
● Use a currency that rewards saving (good behavior)
● Huge potential in future robotic/machine economies
● Potential for decentralized economic actors
● Use multiple accounts organize your money (like folders)
● Monero is not counterfeit-able by individuals or governments
● Monero is blockchain analysis resistant (Coinalytics, BitIodine, QuantaBytes)
I suppose the person who originally wrote that, must have meant, saving cryptocurrency on the chance that it may gain value in the future. Versus saving fiat money, which loses value over time.
I was hoping for something more subtle that I perhaps missed in my understanding of XMR as a coin per se... I guess you're right though.