/biz/ - Business & Finance

>>53789295
>Anything that isn't PoW is a scam.
heard some guy talking on monerotopia twitter-space thing how he thinks one bad feature in the monero network is that it's not proof-of-stake.
i mean honestly how can you trust the security of a global currency to the hands of the people who have most money in it?
at least with proof-of-work you have some kind of competition for real life resources (electricity/hardware) deciding who gets to mine more of it.
you know, like precious metals in a way.
monero is too good of a currency.

>>49647091
>>49653823
You have a choice between an asset emitted by a solid network with good ideas, backed by miners, or one emitted by the Federal Reserve, backed by the U.S. government & the elite.
I don't have enough time to keep switching between one or the other every time the market decides to do something.
I clearly am not capable of "timing the market".
On the long run I don't want to be in a position where I don't have any monero.
Who knows? Today the dollar is desired but I imagine this can change real quick depending on the circumstances. If the dollar crashes, either unintentionally (imagine Japan, the biggest foreign holder of U.S. treasuries, calling in its loans) or as some sort of theatre to introduce CBDC while phasing out cash.
Then how quick you will be able to put your hands on some monero?

>>29064689
There is no perfect formula or backup plan that simply works for everyone. In your case this may be the best option, for others it may not. The common elements that need to be thought of when devising your own plan are: portability to different devices/software, accessibility in different geographic locations, risk of some third party having unrestricted access to your wealth (e.g. storing the mnemonic seed directly on a piece of paper anywhere in the world), being future-proof, and writing clear instructions on how to access your crypto in case of your incapacitation (for a family member, etc). I also would never recommend storing your mnemonic seed on an unencrypted file that is exposed by the internet via a connected device.

>>28715702
Yes. That's usually the goal.

>>28717557
>So we're well beyond the point of knowing if it's theoretically possible?
Yes. I don't remember exactly where I watched but there was a video of one of the initiatives working on it already doing an atomic swap on testnet bitcoin and testnet monero.

>>28720595
>>>28716549
>>original stream feb 4
>where did you get this information from?
At some point he's showing coingecko, talking about how it's the day snapshot and it says on the bottom February 4th.