The issue at the moment is its hard to buy it and hard to spend it. What I think we could do is develop a federated store like Amazon/eBay/Facebook marketplace etc that uses Monero.

Might also be a good way to establish a way to incorporate financial incentives into being a fediverse content creator.

[–] g2devi@feddit.nl 7 points 3 weeks ago* (last edited 3 weeks ago) (1 children)

The issue is more the onramping than the offramping. As long as gift cards are available, it's fairly easy to use Monero gift cards for Amazon/eBay/Facebook marketplace. This doesn't create a Monero circular economy, but it does ensure that once you have XMR, you can live off it even if no-one else in your area accepts it. XMRBazaar is better since it help the Monero circular economy and provides a good way to both onramp and offramp.

Three things could greatly help XMR: (1) If banks could custody crypto (promised by Trump, hopefully other countries will follow), even non-XMR crypto and you're allowed to transfer to a self-custodial wallet, then it would be trivial for merchants to accept crypto and businesses to pay in crypto and for individuals to purchase crypto simply by moving money into your crypto account. CEXes would be irrelevant for everyone except degens. Once that happens, it'll be easy for people to be paid in crypto which is easy to convert to and from XMR without KYC. (2) If BasicSwapDex is made easy to install and the appropriate automation scripts are created, converting to and from XMR via P2P should be trivial. (3) If Serai is finalized and proven itself and the appropriate automation scripts are created, converting to and from XMR will be trivial. (4) If all three of the above happen, having a store front that accepts XMR is trivial, even if the store only wants USDT. Also having all your savings in XMR is also trivial and can be automated.

[–] jay_edwards@monero.town 2 points 3 weeks ago

Looks wise, I liked your post

[–] owe_addams@monero.town 4 points 3 weeks ago (2 children)

Monero should circulate freely. Now I should use services like trocador or exolix to swap Monero, but it would be cool to use CEXs as well. And sure, there must be free circulation of Monero in the real world, as a payment method, etc

[–] azalty@jlai.lu 1 points 3 weeks ago (2 children)

For real, I don’t get why so many people were happy about the delistings of XMR from CEXs

[–] ReversalHatchery@beehaw.org 4 points 3 weeks ago (1 children)

many suspect that CEXs do price fixing

[–] Chakravanti@monero.town 1 points 3 weeks ago

"Suspect," Hah! Duh...LMFAO...kind of like suspecting Wall Street does Price Fixing.

[–] key_brolin@monero.town 2 points 3 weeks ago

I wasn't. Now, I use exolix or trocador to buy Monero, but I wouldn't regret using CEX for that

[–] gunnm@monero.town 1 points 3 weeks ago

CEX have to work with the governments

[–] key_brolin@monero.town 3 points 3 weeks ago

for that we need a lot of people and free markets for trading

[–] Wave@monero.town 2 points 3 weeks ago

Yes, if everyone you know who is open to future technology has a Monero in their own wallet on their own device and uses it to pay for goods and services that accept Monero.

[–] gunnm@monero.town 2 points 3 weeks ago

Monero is the only one working independent to the financial system, the real battle vs CBDC has not started yet.

[–] key_brolin@monero.town 1 points 3 weeks ago

We can create our own CEX (agains our rules, but anyway) and allow everyone trading there😜