Topic: Could Monero replace Bitcoin soon? - page 23. (Read 33728 times)

Well if people keep asking(spamming) these questions ON a bitcoin forum, then it definetely will not. The lack of users in their own thread shows how not much people have trust on it. I don't think a coin without a good community can survive for much long, well that is just my opinion though.

As much as I think Monero has one of the nicest looking coin icons, I don't think it'll ever be more than Bitcoin. Dash has more time in the market, so the stealth thing is already covered, and Bitcoin is a runaway train that's taking no prisoners anymore. And frankly, I think that's the way it should be. I do think Monero could end up in the top five though.

there are pretty low chances i think

I think Bitcoin will stay as the top crypto, but I'm hoping that Monero goes up to become second in market cap. 

everyone seems to ignore the importance of a public ledger and it's possible use for endless new applications (see VC investments if you need confirms)

all this cool stuff that we can develop (and that we cannot even imagine) on blockchain cannot be done with cryptonote coins like moreno because there is no public ledger

you cannot compare bitcoin with monero because are totally different, same way you cannot compare fiat with bitcoin

that's why monero cannot replace bitcoin

It really depends on what do you mean by replacing bitcoin.
I think bitcoin stays around as long as there is something to mine due to block reward.
On the other hand, if you refer to marketcap, definetely Monero might indeed overtake bitcoin's dominion.

Could it replace bitcoin soon? Like it's bound to happen in the end, you know, no question about it 

And I'm beginning to see how they'll evolve. Please forgive the politics trope, but I'm seeing the cryptocurrency world evolve into a kind of two-party system: the "Transparency Party" and the "Privacy Party." The "Transparency Party" sees crypto as a way to make frauds far more difficult to pull off in real time. The "Privacy Party" sees crypto as a way for ordinary folks to reclaim the financial privacy that's been all but lost these days.

Both are in embryo stage right now; they're not even newborns. We all know that small-time cons [relative to the penny-stock arena] aren't that difficult to pull off here. We also know that privacy-centered cryptos have almost zero reach outside of this neck of the woods. But the twin visions are settling into place: they've been "conceived."

For the ordinary bloke, just as in politics, a two-"party" system means a choice.

Yeah but most of the people around here are just some mouth-karate fighters, most of them doesn't even have 0,1btc or so

That's pretty much true currently.
But this is because the markets are not liquid enough.
Let's say I want to convert 10 000 usd (which doesn't even buy you a new car) worth of Moneros, it basically leads significiant red candle in the markets.
The markets need to be liquid enough to absorb selling of millions of dollars without causing panic to anyone. For this the (skillful) tradders are needed. They buy when others want to sell and sell when others want to buy, and in order to make the markets to both sides you need a significiant position of both currencies.
Like gold bullion, it is traded mainly by the central banks and therefore it is pretty liquid market and if I want to sell 1 million euros worth of gold, I could do it probably pretty easily in Helsinki selling it to a few places and the spot price is not affected at all. The same should happen to Monero. Monero needs some really wealthy people making the markets and being interested in taking it any time.
It can reach this mass if the overall trend of Monero is bullish. Anyone wants to own an asset that appreciates (it doesn't need to appreaciate 1 % per day - that's too much in the long run) but even 0.01-0.1 % daily appreciation is giving enough incentive for the rich people starting to accumulate Monero.

The only problem in cryptomarket it's that there are no stable or "calm" periods. There is or PANIC SELLING, or PANIC BUYING

Any commodity price is almost all about speculation.
A friend of mine, who is making his doctoral degree/dissertion in the university of Haifa something about oil (I am not quite sure yet what is his field in this issue - and I guess he do not have full assurance himself as well since the process and reading & studying of the matter is in the beginning stage), told me once, even as much as  90 % of oil price is speculation.

I like the fact that Poloniex has started offering marginal trading. It enables more speculation to the markets and thus increases the stability of the markets. If you feel like dumping, then there are people who want to buy your coins and if you feel like buying, then there are people with marginal positions who want to fulfill your desire without causing massive panic buying to the market where some emotional people may get hurt and end up bitter and desperate bagholders.

That's the whole point of crypto community. Speculation, speculation and speculation.

Maybe its only cold if everybody can see the coins sitting there in the address

What?

You can create a paper wallet offline and then send to it. How is that not cold storage?

Not really, monero and other altcoins dond have cold storage option feature.

Yes it may be anonymous and have great support and all that but without cold storage, not anytime soon!

mmmm canned monero.

dunno if this was in this spammy thread, but yes and no. A transparent blockchain is great for some things. An optionally transparent is great for some things. For instance, I recently used proofofexistence. Could that be done with the cryptonote blockchain? Sure, but you'd have to tell all parties involved your viewkey etc etc. With bitcoin, anyone can hash my document and see the timestamped proof on the blockchain.

things. just. evolve.

Of course not. At least not soon. And starting another few hundred pointless threads about it isn't going to change that.

Allow me to pitch in. Call me naïve, but I have a slight aversion to being too smart by half*. To my ingenuous eyes, what you've got are genuine Monero fanbois who are using this board as a sandbox for wider-world evangelism.


*My own surmise: this phrase was coined when someone with a reputation for annoyingly bragging about his I.Q. of 150 tripped himself up by reasoning his way into folly.

Thanks for the elaboration.