I thought demand for sound money such as bitcoin would be huge given how pervasive and insidious the counterfeiting of fiat currencies is. It turns out that people don't really care that much.
that's how common knowledge works...until it doesn't.
Inside our tiny bubble it's easy to forget just how little the average person gives a shit about the evils of our current monetary system.
Not that anyone would want to fuss with crypto even if they did care. It's inconvenient to get, inconvenient to use, and offers little incentive to the regular old dude who just wants to swipe his credit card and get on with life.
The idea that incentivizing people to hold somehow improves the success of crypto is absurd and a rather narrow perspective in my opinion. A successful currency is one that people
use (read: spend), not one that everybody collectively sits on and waits for the value to increase. That's not a currency at all.
Many of us refer to Bitcoin and Monero as cryptocurrencies but we don't actually want them to be currencies. We just want the market cap to go up to infinity so we can get richer and buy more stupid shit we don't need.
The sad irony is that the prices will never reach "the moon" until we stop serving ourselves and start focusing on improving the lives of everyone else.
TL;DR: Currencies are about commerce. Let's focus on improving that. Approaching crypto from an investor perspective and focusing on ROI will never get the rest of the world to start using it. An increasing market cap is a symptom of success, but if that's our goal then we're doing it wrong.
Exactly. And its been pointed out before that one of the theoretical reasons for the shape of the emission curve was to encourage distribution, and all this talk of pushing the price up is fighting that. I'll be honest - if I had come into monero and it was 5$ a coin, I wouldn't have bought in. Thats because I'm relatively broke and shouldn't be throwing money at cryptocurrencies. But at $0.20 a coin, it was in this "eh, sure, why not?" space. Logical? I dunno - but thats what I did.
So, theoretically, the value of Monero is exactly where it should be - based on current usage and demand and emission. Its not artificially inflated by some staking system. Should efforts to be made to keep hodlers happy? perhaps. Is one of these efforts some type of investment vehicle that provides returns? Perhaps.
I mean, the emissions!! - I remember looking at coinmarketcap the other day and going "7 million? " I coulda sworn it was just 6 million. So, in a blink of an eye, 1 million more monero have popped into existence. 1,000,000.
Like I've mentioned before, if the key to this is hodling, the key to hodling is getting the coins out of those that don't hodl. One route to this is creating a massive mining farm. A 1 megahash farm would cost 357k USD and use approx 107 kw. These numbers just based on 750 ti cards at 100$ / pop. This would cost 93k / year in electricity at 10 cents per kwh. Maybe score an industry site get better rate. Sure, this is centralization.
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