FluffyPony Of Monero (XMR) Talks To Forbes About Money Privacy, ICOs And More
Monero’s FluffyPony Talks To Forbes About Privacy, ICOs, And More
Riccardo Spagni who is more popularly known as FluffyPony recently gave an interview to Forbes. He began it by saying that Monero is not to be purchased for investment purposes.
“Monero's probably not an investment. It's designed to be a currency, and in particular, it's designed to be a privacy-preserving currency.”
Spagni spoke on cryptocurrency eventually leading to the way that regulatory arbitrage could have a serious effect on the overall crypto space in the next few years. Spagni started off with being fairly dismissive that crypto even being in the economy is going to cause governments to topple. He expressed his preference for something subtle in how talent and innovation could be distributed, which would ultimately be stirred up by a lack of consistency in the regulatory measures made around the world.
Earlier he had said that Bitcoin had become too big to fail.
“I think that there is too much brain power, research, adoption, and money that has been poured into Bitcoin for it to fail. I truly believe that. Obviously, there’s always a chance but I think that the chances a Bitcoin failing are at this point infinitesimally small I think the chances of every other altcoin failing are higher.”
He describes the four pillars of Monero's privacy, makes the case for why it would still be valuable even if Bitcoin were to adopt privacy and explains the ways in which its privacy is stronger and weaker than Zcash's. He also explains his view on the fact that Monero is one of the top currencies used on the dark web and appears to have been in demand by bad state actors such as North Korea.
He calls privacy a double-edged sword. Although he mentions that Monero is auditable.
“Monero is auditable. You can take the view key and you can give it to a third-party auditor or the IRS. Since the view key feature is cryptographically linked to your wallet, there’s a guarantee no one can manipulate or hide certain transactions associated with the wallet address,” says Spagni.