> ON the international currency market, one traditional role of the US dollar is exactly "store value". You trade your currencies on the FX market during your day, and comes close to "close of your trading", you exchange all your positions for US dollars, to keep in store for your quiet period.
Come again? The international currency market doesn’t really close overnight, and the people who store value in USD are generally Americans or other people or entities who generally store value as USD.
And that latter part is the whole point. When you save up for retirement, or plan your business, or prepare a balance sheet, or plan for a college education, everything is denominated in dollars (or your local currency).
If you want to store money for any future use, you want an asset that has a somewhat predictable return relative to the dollar. If you are a drug dealer who collected $1M (in USD or its equivalent in Bitcoin, Monero, casino chips, whatever), you may well launder or mix it through something else, but your goal is to end up with approximately $1M for when you want to buy more wholesale drugs, pay employees, buy a fancy yacht, etc. Storing $1M as Monero is making a huge bet that it will still be worth $1M when it’s needed.
Come again? The international currency market doesn’t really close overnight, and the people who store value in USD are generally Americans or other people or entities who generally store value as USD.
And that latter part is the whole point. When you save up for retirement, or plan your business, or prepare a balance sheet, or plan for a college education, everything is denominated in dollars (or your local currency).
If you want to store money for any future use, you want an asset that has a somewhat predictable return relative to the dollar. If you are a drug dealer who collected $1M (in USD or its equivalent in Bitcoin, Monero, casino chips, whatever), you may well launder or mix it through something else, but your goal is to end up with approximately $1M for when you want to buy more wholesale drugs, pay employees, buy a fancy yacht, etc. Storing $1M as Monero is making a huge bet that it will still be worth $1M when it’s needed.