Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Satis Group-Bitcoin might reach 96K by 2023
by
cellard
on 08/09/2018, 16:00:45 UTC
⭐ Merited by reactorjuno (1)
in the future monero will be #2 coin, eventually 1 XMR = 1 BTC

Extremely delusional. Monero may pump a lot in the future, but it will never get anywhere near BTC.

The big problem with trading Monero (and I have been tempted to do so) is that once you are rich and you want to buy a nice house with your gains, there will be a big question mark in your trading history, thanks to Monero's obfuscated blockchain. So if they demand proof of origin of funds, unless you never leave your exchange, you may end up in problems.

Just imagine that you buy Monero in Binance or some other exchange, you put it into your Monero wallet, wait some months, Monero goes x100 and you want to sell for BTC. You send your XMR into Binance again to sell, and within this move is the problem. If they ask you to see this transaction, how do you do it? you can't show them in the blockchain, and believe me they are and will get increasingly anal about things. They will want every detail, and they will look for gaps within your trading history to confiscate your money, and then you are fucked and you no longer can buy your dream house, and maybe even end up with a big fee. So yeah, before you do any of this, at least be sure the jurisdiction in which you do it will not screw you up bigly.