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.
You can prove any transaction you make with viewkey. You seems to miss a bit technical knowledge of Monero. It also have view key that bitcoin dont. So for taxation purposes you can easily prove all your transactions whenever you want. But only you can prove that no one else can.
For exchanges is totally simple. They care only about blacklisted wallets. So if someone hacks Bitstamp and steal 1000 bitcoins no other exchange will take those bitcoins, since they will all track on which wallets they move. With monero exchanges dont have this problem. Well the wallets that hacked Monero are moved are ofcourse blacklisted but after next move track is lost. Reason why exchanges love monero is called fungibility.
Great post. Which actually means, no matter how great Monero is now, it could be worth zero $ in the future, for the very reasons you mentioned (or close to zero, you get the point...).
Monero can be definitely worth 0 in the future. It is an experiment. If you decide to buy some dont spend more than you are comfortable to lose.
Even if you could technically show a transaction and prove that the funds belong to you, the coin with the highest chances of getting banned from most governments thus never being able to buy a proper house and other actual tangible things with your gains is Monero.
With Bitcoin the chances are lower, it's too big, there will always be favorable countries to it, I see switzerland being one. But Monero may be pushed by all major governments into some niche currency nobody uses.
What do you mean even. Only when you own private keys of Bitcoin wallet or Monero wallet you can prove that founds there are or were yours. IF you think you will show a Bitcoin transaction to tax office and taht wil be fine you are wrong. You will need to be able to prove them that is your wallet. So make sure to keep all wallets private keys.
Many government of politicians tried to ban Bitcoin but they failed at doing so. Many governments or politicians will try to ban Monere but they will fail at doing so. You simply cant ban math. If some government somehow manage to ban Pythagorean theorem, that dont mean that a2+b2=c2 will stopped be true.
Come on now
obviously politicians can not technically stop Bitcoin or Monero from existing, but if they declare it illegal then what are you going to do? If banks are officially forbidden to receive any transaction from "fishy" cryptocurrency websites then you are screwed. Oh I guess you can still keep your cryptos and never convert them to fiat currencies, so you will use them to buy flight tickets or a house, but what if airlines companies or real estate are officially forbidden to receive any payment not made in fiat? Then Bitcoin or Monero will obviously not be dead per se, but politicians can make it difficult enough so that the market collapses. I obviously don't think the scenario I described is likely, but it is still within the realm of possibilities.