I have written before about the need to stabilize the Monero price to promote wider usage. My idea is to create a service like i mentioned in that post where a product would be listed with a stable price for a week at a time and reserves would be kept to keep the price stable while the spot price is below the stable price. I will not hide that you may pay more for the product if spot price is higher, but you would also pay less if the spot price was lower (to a minimum reserve anyway).

Would you be interested in such a service?

As an example, at the time of writing a 12oz bag of gratuitas coffee is 147.54mXMR where this service would have it at 154.23mXMR (+4.51%) until Monday when the price would update again.

Edit: an extremely crude example can be found at feder8.me. It is not an SSL site but it has nothing private anyway.

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[–] RealBot 1 points 11 months ago (1 children)

But that only guarantees safe one way transaction. If that is all you want thats ok.

But for safer transaction you want something like smart contracts. So you can actualy know you are gonna get what you buy for example.

Without some kind of smart contracts you are actualy relying on exchanges (so in reality it isn't really trustless).

Does monero have some kind of smart contract mechanism? In which case I am talking nonsense😂.

[–] [email protected] 1 points 11 months ago

@RealBot what a vapid take

No you don’t need smart contracts to pay someone. You just pay.