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Comment by bogota | Hacker News Reader

Not exactly. It is just pricing in the risk of the government making the on/off ramps impossible to access.

There should not be any on-off ramps to begin with. People should just transact in XMR directly. That's what crypto was supposed to have been like.

That won't happen and would actually be much worse for Monero because it means everything becomes a giant target for thieves and scammers, even more than it already is. The reason it's failed is because the idea of cryptocurrency is fundamentally bad. Monero isn't even trying to hide it. The developers openly say that criminals should use it to commit crimes.

I believe that the ideal end goal would be that a cryptocurrency is a closed system where a person could buy, sell and earn all in one currency. At that point if it grows big enough price will stabilize and more and more day to day commerce will move to the blockchain.

Bitcoin and Monero have always been able to send transactions instantly and for Bitcoin, essentially free for over a decade with zero down time. That beats the pants off Visa and MasterCard.

Why use an inflationary currency that costs 2% to spend and takes 30+ days to settle?

What crimes?

For starters, any of the money laundering crimes that CZ just pleaded guilty to. That's what any of these cryptocurrencies mean when they say transactions can't be tracked.

This does have the network effect disavantage of requiring everything to move to XMR immediately.

Also, except maybe for purely digital there will be "on-off ramps" anyway, except it will be for real goods instead of fiat currency. The government can ban you from paying the gardener or buying milk with XMR.

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