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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 (edited)

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.

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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!