Stay on topic:
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This thread is only for comments discussing the uncertainties, shortcomings, and concerns some may have about Monero.
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NOT the positive aspects of it.
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Discussion can relate to the technology itself or its economics.
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Talk about community and price is not wanted, but some discussion about it maybe allowed if it relates well.
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Be as respectful and nice as possible. This discussion has potential to be more emotionally charged as it may bring up issues that are extremely upsetting: many people are not only financially but emotionally invested in the ideas and tools around Monero.
How it works:
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Post your concerns about Monero in reply to this thread.
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If you can address these concerns, or add further details to them – reply to that comment. This will make it easily sort-able.
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Upvote the comments that are the most valid criticisms of it that have few or no real honest solutions/answers to them.
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The comment that mentions the biggest problems of Monero should have the most karma.
The first principle is that you must not fool yourself — and you are the easiest person to fool.
I find myself limited to purchasing non-essential items because the marketplaces that accept Monero primarily offer goods that aren’t necessary for survival. Essential services and products like fuel, property tax, internet service providers, electricity, insurance, phone service, and food are currently inaccessible through Monero transactions. For Monero to facilitate a successful circular economy, there must be significant progress in making these essential items available for purchase using XMR, whether through direct or indirect payment methods.
there’s clear potential, for monero adoption, to target small businesses that attend to basic needs like nutrition, transport, and shelters, to accept monero to be frank. Farmers, Bakeries, Cabs are all potentially monero adopters imho
What about the Monero community working with the manufacturers on PoS terminals, providing coding assistance to embed nodes and wallets into them and provide the training to retailers willing to participate in pilot programs? I admit I don’t understand the new US laws on crypto and if this might presently be illegal.
Another idea is to create a legal fund to defend those prosecuted by any of these crypto related regulations. Establish precedence in the courts, making it more difficult to prosecute the free exercise of trade thru crypto and furthering privacy protections for private transactions.
You can top up your digital Visa card with crypto. However, you would need to convert a small portion of your Monero into SCRT and send it to your digital NON-KYC Fina card before paying. https://fina.cash
Essential consumer goods have huge markets, and have few differentiating factors. Both of these things are beneficial for mass production, which lowers the cost so much that small business are driven out of the market. And the small business that remain often only resell mass produced goods. Even though WE want essential goods available for Monero, I think it offers buisiness too little advantage in a highly competitive market and the effort required plus legal uncertainty may even drag them down.
If you want Monero adoption, ask yourself: Why would you want to receive XMR instead of cold hard cash for your work and/or goods? The obvious answer should be: Because you can use it for things you can not use cash for! Yeah people of course thing “duh we got the darkweb” and while that’s true the market is way beyond early adopter stage and does not really require our attention. I do like to market for internet services (email, vpn, vps, sms verification etc) because it’s such an obvious yet still niche use case. It’s also a low value way to spend donated money on your foss projects or whatever you do.
Personally I think good markets would be anything that is not illegal, but people still don’t want anyone else to know about. If you could pay for tax consultants, lawyers, psychiatrists and similar professions anonymously, I’d bet some people would be willing to pay extra and go out of their way to acquire XMR. And once you can’t trade for fiat anymore, the best way to get some would be to earn by offering more generic things.
Yes, in the end it’s a hen and egg problem. But I really do believe the least uphill battle is going the “exclusive for XMR” route.