CRYPTO
Cryptocurrencies allow quick, low cost payments to and from just about anywhere in the entire world. With crypto there are no wire money transfers or costly clearing fees, and there are certainly no several day, long periods of waiting time. There is also no risk of fraudulent overcharging.
THE GREEK CRISIS
Let us not forget how, during the crisis of 2015, people in Greece were restricted to accessing only 60 EUR per day. That resulted in long lines outside ATM machines and fears, poverty, depression. This is where cash and cryptocurrencies come along.
WHY MONERO
If you give me your Bitcoin wallet address then I can send you a payment, your private information is immediately threatened. Monero is perfectly programmed, and completely decentralized and privacy focused.
You travel through parts of a country like Brazil, Venezuela or South Africa with super high rate of crime and violence. You need to use Bitcoin to pay to someone. If every person you deal with knows exactly how much money you have in your digital wallet, this is a threat to your personal physical safety. You could be robbed, or even killed.
Monero resolves these privacy concerns by automatically applying data protection methodology for each and every transaction.
MINING
Monero is based on the CryptoNight (Proof-of-Work) algorithm and can be extracted on CPU processors instead of on expensive graphics cards. In addition, you can mine Monero on both of them simultaneously and significantly increase the overall mining power, thereby. This ensures that anyone with a reasonable desktop or laptop can successfully mine Monero and make money from it.
A REAL VALUE
Sure, when everyone halted using any particular cryptocurrency -- it would lose its value. This is similar in nature to social networks like Facebook: if everyone stopped suddenly using it and switched to a competitor, Facebook would lose all the value.
This is similar in many ways to social networks like YouTube: if everyone slammed on the brakes using it and switched to a rival company, YouTube will lose all its value. Some would argue that all cryptocurrencies are valueless as endless clones of Monero can be created. Nothing can stop anyone from creating a Monero copy and calling it Mokero.
But the argument is that the users using the original Monero and not the clone is what gives supply shortage of Monero coins compared to a clone's coins. An eBay clone would be pretty worthless, because everyone already uses the original.
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Credit for the photo:
BeatingBetting.co.uk
The license of the photo is:
Attribution 2.0 Generic (CC BY 2.0)
