Monero moving 10% a day (up or down) is bad in the long-term
It's fine to be happy we got a jack up. But long-term, it makes it impossible to price anything in XMR. And if it's got fast volatility up, it can do more down later.
Discussion
Yeah. However this is assuming that bridging back to fiat on a daily basis will still be necessary. If most operate as 1 XMR = 1 XMR then all should be ok for the most part. Current offramps back into fiat via XMR are difficult anyways. Might as well just keep a separate stash of fiat for first realm activities. Or just swap back in planned out sums when the voitility is up. As time progresses efforts would be well benefited from if people work together to reduce the need to involve fiat rails IMHO
Lol, that will be the day. The world, global trade and finance priced and ran in Monero. Haha, right.
Haha yeah I know. But what's the point of using these tools longterm if ultimately the goal isn't something similar to that. My personal opinion? Digital cash in its current iteration(s) will never reach that point. BTC, XMR, ETH, etc will always be niche.
Possibly. I am not a believer in fiat going away. I do however believe Bitcoin will continue to siphon global money and assets forever and take over gold and real estate(as an investment/asset).
I don't believe in fiat going away either. That's why I mentioned it is probably worthwhile still having some fiat currencies stashed away. Aged bank accounts are always helpful as well when needed. I'm more for separation of currencies, whether crypto or fiat. I think bitcoin is America's hedge against its defaulting debt. China and Russia chose gold as the same. Maybe in their case a secondary goal is using hard money as a way to move farther away from dependencies on US treasuries. Whether bitcoin will be a useful investment or store of value will depend on where one is in the world or what they intend to accomplish. For example, IMHO I think fuck boi NGU American maxis will eventually want to come back into fiat when they want to cash out. So for that kind of individual, residing in America. Buy bitcoin, ride the wave if investment is your goal. However in China, the wealthy want to use bitcoin as an additional tool (they also do a lot of retail arbritage overseas) to help them deal with currency restrictions put on them when trying to move money to foreign currencies. Most of them opt for gold as a store of value though because it is easier to liquidate than BTC for example
often the inputs or supplies for a business, will come from fiat. such as phones or servers
There is zero real liquidity, unless that changes, it will always be that way.
Exchange trading volume is only 100 to $150M on average.
One small whale steps in or out, or a LP for the atomic swaps, and boom. 10%>
Depends on how we're using the word liquidity. If it's price to volume, then yes you're correct.
If it's volume of on-ramp or off-ramp liquidity, when compares to other coins such as Bitcoin... Monero has a vibrant peer-to-peer market.
Lol, no. It doesn't.
I am talking about real volume. Say a few thousand to a million Monero per day.
You have also no idea the actual volume due to the tx amounts hidden.
Also, you are talking about price movements in USD, so yes, the metric would be on and offramps at exchanges.
This is why I price my items directly in Monero, but I use the simple moving average instead of the market price. If you don't like it, don't fucking buy from me. I'm cool with that.