/biz/ - Business & Finance

Reposting since the last thread died so fast:

At first, I was sad about the Binance delisting. But now I realize: Do you guys even understand what has just happened?
Due to its widespread adoption, Monero is probably one of the only coins besides Bitcoin that can survive a massive delisting like this. What this means:

>no more paper monero
>no more CEX price manipulation due to coin shortages
>no more futures and widespread degenerate gambling with leverage
>government entities ordered CEX's to stop negotiating Monero, confirming that they can't in fact trace it

Due to the ending of paper Monero and fractional reserves by exchanges, users will have to store ACTUAL monero in their wallets. Banks in a heavily regulated environment are required by law to hold only 8% to 10% of the money their clients have (or 0% since March 15, 2020 if you live in the USA). Binance wasn't required to store anything, and we don't know how much Monero they actually hold. What we knew is that they always had issues with withdrawals, meaning that they didn't hold enough.
Assuming a very conservative estimate that all exchanges have 25% of their users Monero in reserves, that means this delisting could have at least a 4x effect in reducing the supply and consequentially a 4x effect in the price, assuming people just keep using it like normal. This is how we surpass bitcoin.

At first, I was sad about the Binance delisting. But now I realize: Do you guys even understand what has just happened?
Due to its widespread adoption, Monero is probably one of the only coins besides Bitcoin that can survive a massive delisting like this. What this means:

>no more paper monero
>no more CEX price manipulation due to coin shortages
>no more futures and widespread degenerate gambling with leverage
>government entities ordered CEX's to stop negotiating Monero, confirming that they can't in fact trace it

Due to the ending of paper Monero and fractional reserves by exchanges, users will have to store ACTUAL monero in their wallets. Banks in a heavily regulated environment are required by law to hold only 8% to 10% of the money their clients have (or 0% since March 15, 2020 if you live in the USA). Binance wasn't required to store anything, and we don't know how much Monero they actually hold. What we knew is that they always had issues with withdrawals, meaning that they didn't hold enough.
Assuming a very conservative estimate that all exchanges have 25% of their users Monero in reserves, that means this delisting could have at least a 4x effect in reducing the supply and consequentially a 4x effect in the price, assuming people just keep using it like normal. This is how we surpass bitcoin.