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Joined 1 year ago
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Cake day: June 20th, 2023

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  • There may be some situations where this makes a lot of sense, particularly involving currency manipulation. For example, in Argentina, the official exchange rate was much less favorable than the actual (black market) exchange rate. Monero could enable someone to sell at the more favorable exchange rate locally, rather than relying the transfer provider in the source country to do it.

    However, it’s important to consider potential market effects if this is done at scale. For some people, it could work, but probably not yet on such a large scale.


  • There’s at least a decent chance that Monero may actually be a better store of value than the destination currency would be and the receiver might just choose to keep it in Monero instead of converting it to their local currency.

    That could make sense if Monero was a widely accepted currency for goods and services in the destination country. However, as far as I know, it usually needs to be converted to fiat currency for this.

    So you would purchase Monero peer-to-peer in your country send it to them and if they need to exchange it when they get it they can choose when to do so and how much to convert.

    Sure, P2P is the ideal without KYC, but if used at scale, this is going to eventually lead to an increase in value of Monero in source countries and a decrease in destination countries, especially since P2P exchanges are usually local in nature and less liquid than centralized exchanges. There would be heavy sell-side pressure in these P2P exchanges, whereas likely not nearly as many people would be buying Monero there. The spread between the buy price in developed countries and the sell price in developing economies could exceed 6%.


  • This could work if there are reliable exchanges already available in local currency on both sides, and if both sides have bank accounts and the technical know-how to use exchanges. However, if Monero were to become a large scale method of remittance transfers, then Monero could be overvalued in exchanges in source countries and undervalued in exchanges in destination countries, especially in situations where the currencies are not freely convertible. With P2P exchanges this situation may become even more exaggerated.

    Eventually HFT traders may catch on and level the market, but this would essentially mean a transfer of wealth from the masses sending remittances to a few HFT traders.

    My point is, though sure it works fine in limited situations in strong economies (where there are liquid, freely exchangable fiat currencies and fair exchanges with low fees), it is a lot more complicated than it seems to use it at such a scale or in countries with underdeveloped economies.



  • That makes sense. But in that case, why doesn’t apple impose data privacy standards on cars that want to integrate CarPlay? It would still allow car manufacturers to design their own software. I’m not sure I’d trust CarPlay to safely operate all of the sensors and displays in a car. What if the speedometer freezes for example? Or if the car suddenly detects a car in front of it (that doesn’t exist) and brakes because of it? It just seems like a really bad idea to grant such levels of control of the car to CarPlay, which isn’t evaluated to the same level as standard built-in car software is (afaik).

    Or, better yet, Apple should lobby for comprehensive data privacy laws in the style of GDPR, which would at least help resolve these privacy issues industry-wide. And, to their credit, it seems like they are to an extent. My opinion is that hardware car functions, such as air conditioning, windshield wipers, seat warming, etc. should be managed by the car software, and navigation and music should be managed by CarPlay. Though of course opinions may differ here.