Rug Pull

Last I checked it (updated every 24 hours) 78% of the purchased Monero was done on Binance, 10% using BUSD. ~34% done using the Tether scam and +36% using BTC (although, 74% of purchases of Bitcoin were done using Tether)

Combining both EUR and USD, only accounted for 8.5% of purchases from exchanges. I realize there's some P2P usage but these numbers account for the significant majority of buying pressure on the "market".

IF Tether fails, and it will. I don't see why anyone would think Monero wouldn't completely nosedive in price. To use the lingo, I'm a Monero maxi… and think its a hedge against the state or rather a survival tool that does what its supposed to do rather than a quick buck… But I was thinking that if only less than 10% was direct fiat to Monero (I believe it was Kraken and another?) than surely the ability to purchase this is dramatically limited. All the more reason to convert what crypto you have now to xmr, and yea its cool when some of us buy something using it in private, but if there's no way to purchase it then its a dead market.

It's not that I even think that your average person is going to understand it enough or be interested, half of people are truly whipped dogs (especially if you're reading this in a "legacy-branded" country and even those in crypto 'most' of them haven't found Monero that interesting. So I don't really care if the crypto youtuber can get more or not but bottom line is he and everyone does need a way to buy it to sell it (for goods and services) later on–velocity.

What are your thoughts on this? Please no dogmatic "Monero is the best in the world man!" replies, trying to find some cracks to fill (or rather, create discussion so people smarter than me can fill them).

Best i've heard is atomic swaps and some crypto vehicles I don't really understand but as far as I can tell they are also dependent on stablecoins being used. What I could think of was a reserve to buy directly from the miners rather than the miners going to these exchanges. Avoid exchanges now since they just carry too much counterparty risk.


submitted by /u/Ball1611
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