Until it gains stability resembling actual currency, it will remain a niche bartering item. All crypto still behave way too much like stocks to be used as payment methods in general society.
Oh, that’s correct. Too much of their value depends on trust into them, a feedback loop.
One can say that malicious emission of the real world (printing money to cover budget holes) and burning money (literally lost banknotes and such) and unknown untraced amount of cash are factors for stability. You know less and you speculate less, because what you speculate about is not as random, it’s a conscious actor (the emitent), and the rest is unknown, thus not creating a feedback loop.
I don’t know if one can really create such a system that would be extensible into offline applications. Double spending is a problem.
I do mark to market at the six month moving average and when I sell items for Monero, I also mark them at the six month moving average so that prices move slowly.
Until it gains stability resembling actual currency, it will remain a niche bartering item. All crypto still behave way too much like stocks to be used as payment methods in general society.
Oh, that’s correct. Too much of their value depends on trust into them, a feedback loop.
One can say that malicious emission of the real world (printing money to cover budget holes) and burning money (literally lost banknotes and such) and unknown untraced amount of cash are factors for stability. You know less and you speculate less, because what you speculate about is not as random, it’s a conscious actor (the emitent), and the rest is unknown, thus not creating a feedback loop.
I don’t know if one can really create such a system that would be extensible into offline applications. Double spending is a problem.
I do mark to market at the six month moving average and when I sell items for Monero, I also mark them at the six month moving average so that prices move slowly.
https://xmrbazaar.com/user/AuroraGeneralStore/
Edit: Over the past, call it 7 or 8 months. It’s increased by 29.8% ($142.50 to $184.67).
Edit 2: That obviously means that all item prices in Monero have dropped by 29.6% in the past seven or eight months.