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RE: πŸ’°πŸ“ˆ My Strategic Cryptocurrency Portfolio - Update #6 - Developments, Changes & Context πŸ“ˆπŸ’°

in #cryptocurrency β€’ 8 years ago

Still holding on strong to those WAVES tokens I see!

Keeping VTC and XVG for short term is a good idea I think. I feel these are 'flavor of the month' coins to be honest.

Monero is something I am starting to consider more and more myself to include in my long-term holds. The main thing that is stopping me is that I feel there is risk involved with governments banning it sometime in the future, because it is too anonymous. I think that might over time increase it's value? Not sure.. but if it does get outlawed at some point, it's going to be hard to get rid of it legally without blemishes. So I'm on the fence still. But wish I had picked some up when it was at $80 a while ago.. of course back then everything was super low, so I could hardly sell one of my other assets for it :-/

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Yep, Waves is becoming the fastest blockchain now with Waves-NG & serious marketing budgets are expected to be used from december onwards ;-)

I get your point about Monero. On the other hand, how anonymous are cash and gold? How can they ban it? And basically without any solid blockchain analytics software combined with known addresses linked to identities, crypto is quite anonymous at this moment anyway ;-)

Β 8 years agoΒ (edited)Β 

Well the thing I worry about with Monero is that they can easily ban it by regulating exchanges. Even decentralized exchanges, which could still trade Monero maybe, could be struck by regulation. Sure, Monero is untraceable... BUT.. you can blacklist Bitcoin payments. For example, if it turns out that you own 1 BTC but you have gotten it by trading on an illegal exchange (which some exchanges may be if they trade in outlawed crypto), then 'legal' exchanges could be required to refuse acceptance of that particular BTC. Since the blockchain is completely traceable, this BTC would be tainted forever and could never be exchanged for value (wether it be crypto or fiat) on legal exchanges.

If Monero can't be traded for dollars or untainted BTC, would it still have value? I think the above situation is not impossible.
Still, I think I should own at least 1 Monero, just to be safe. I can definitely see this going to $2000 before it gets attacked by governments.

Very interesting point you make there. It a bit late so my brain isn't functioning properly anymore. I will wrap my head around it tomorrow!