Monero [XMR] isn’t an Investment – Use it as Currency, Project Lead Riccardo Spagni Advised

February 8th, 2019

Those who consider Monero (XMR) as an investment, may change their opinion following the discussion of Monero developer with Forbes, Media. Riccardo Spagni, who is working as Developer for Monero claims that ‘it is not an investment but a currency’.

Use it as Currency, Not Investment

“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.” Said Spagni

According to Spagni, XMR is not designed as an investment vehicle rather a currency integrated with specific privacy features. Spagni is contributing his best effort to Monero since its early days. For him, Monero is more than a digital asset – expressing his sentiment, he says;

“I’m a big advocate for personal privacy,” “I think that it should be a basic human right. The way all our data has just sort of been splurged online through hacks and compromises and malware and sometimes our own stupidity, we’re in a situation where privacy-preserving projects are a necessity.”

Stance on Privacy and ICO

Unlike parties involved in Bitcoin transactions can view the private keys on the blockchain, Monero is quite more privacy-centric, he said. Such action is stiffer in Monero. In fact, he explains that various methods have been employed to assure the security of transactions. Few of those methods are one-time stealth addresses, ring signatures, and ring confidential transactions.

Although privacy in Monero is at its core, Spagni adds that auditing of Monero transactions can be possible without even spending funds. One can do that by using ‘view key’ and giving it to the third-party auditor or the IRS. Besides privacy, the developer also discussed ICO. Spagni is also contributing to an event ticketing company, Tari as the Chief Technology Officer. Speaking to Forbes spokesperson on ‘ICO related question’ for Tari platform, he says;

My problem with ICOs is not the act of selling targets, it’s that it’s being done in an environment where there is a lot of murkiness both from a regulatory and an ethical perspective.

Taking a stance against ICO, Spagni further notes in a Reddit announcement that;

“I’ll slay you where you stand.,”