Lead Monero Developer Riccardo Spagni Talks on XMR Coin Privacy and Future Outlook
Monero (XMR) is known as one of the most popular privacy coins in the market. Indeed, it is used by enthusiasts that want to take care of their privacy and data.
During a recent interview with Naomi Brockwell, Riccardo Spagni, the lead developer at Monero, talked about how the virtual currency has been expanding and improving during the last years.
Monero has been several times attacked for being used by criminals to launder money or hide. However, Spagni said that many individuals think that anything related to cryptocurrencies is illegal, even when they are not. During the conversation, Spagni commented:
“People cannot be stopped from the technology they use and this fact should be accepted and embraced. To ensure a safe transaction environment, there should be regulations within the space. It is still early days for the technology and there is still a lot more to come for the Monero ecosystem.”
Moreover, Spagni said that the privacy-focused virtual currency is not a store of value. He indeed said that anything that is not Bitcoin or Monero is a scam.
I chatted to @fluffypony at the Satoshi Roundtable this year about @monero, called him a "fork of a giant douchenozzle", and learnt a great deal about the history of Monero :) Thanks for the interview, Ricccarrod! Always fun!
— Naomi ₿rockwell (@naomibrockwell) February 26, 2019
He then mentioned that there are several projects that will not stop shilling their coins and products even when they do not offer any real value to the space. Additionally, he explained that Monero’s user experience has drastically improved and some applications built on top of the network have done a good job in terms of usability testing.
Spagni emphasized his support for privacy. He said that he is a big advocate for personal privacy and that it should be a basic human right. Other virtual currencies such as Bitcoin are public and anyone can see what happens in the network. Information about wallets and transactions is available for everyone interested in it. Monero works in a different way and protects users from showing any information about their transactions.
At press time, Monero is the 13th most valuable virtual currency in the space. It has a market capitalization of $834 million and each coin can be purchased for $50.