I did not say stable. I said decently stable. Since Monero is actually used as money and changes hands often, the price fluctuations do exist, but they are less than they might otherwise be. Monero took a big shock recently during the Binance de-listing and dropped 30% which lasted for all of about a week before it was back to a decent equilibrium and only a month to recover most of that loss. It has recovered 20% of the original drop, even though there are fewer people using it. Because it removed some speculation from the market. More people over time are realizing that Bitcoin is not the promise they understood it to be and are leaving for Monero.
But is it still deflationary? I may be wrong, but I feel like any currency that is deflationary over inflationary encourages hoarding instead of spending.
Monero is a terrible investment long term. Pricing is hard because the value is always changing
What do you mean? I’ve been using Monero for over a year and in that time one Monero has always equaled one Monero. /s
It’s only when you price it in fiat currency that the price changes.
How about against the price of gold? You also will see it change
True, i have never measured it against gold. Though my guess is that price action would be pretty muted since both are decently stable.
Monero is not stable
Monero is actually the least volatile crypto asset that is not specifically designed to be pegged to fiat.
I did not say stable. I said decently stable. Since Monero is actually used as money and changes hands often, the price fluctuations do exist, but they are less than they might otherwise be. Monero took a big shock recently during the Binance de-listing and dropped 30% which lasted for all of about a week before it was back to a decent equilibrium and only a month to recover most of that loss. It has recovered 20% of the original drop, even though there are fewer people using it. Because it removed some speculation from the market. More people over time are realizing that Bitcoin is not the promise they understood it to be and are leaving for Monero.
How does Monero avoid the problem of Bitcoin? Of just being used for investment and not currency?
Low fees, a focus on privacy, not calling itself “digital gold”
But is it still deflationary? I may be wrong, but I feel like any currency that is deflationary over inflationary encourages hoarding instead of spending.