MRO (Monero)Okay, there was a reason why I wrote on alts. Cause I have just made my first altcoin investment ever! Monero has a trait which pretty much all other alts lack: slow and geometrically decreasing issuance. At present, only 5% of MRO is mined, and even after 4 years there will still be 20% left to be mined. There is no premine, and the community consists of several people
Furthermore, it is at least currently a CPU coin, since the hashing algorithm is designed to make it difficult to implement for GPU let alone ASIC. These things make it "fair" so that there is no way to amass large stashes except by working for them in the competitive mining or buying in the open market.
The market for the coin is very active and extremely liquid. There was an
OTC market in the beginning. MRO was listed in Poloniex 5 days ago and the reception has been good. It has been the most traded coin ever since despite having a market cap of only 1-3 M$! Up to 10% of the outstanding MRO changes hands daily in Poloniex, mitigating the extreme volatility that is plaguing many alts with concentrated ownership.
And now comes the main point: The coin has a feature, which is not implementable in Bitcoin - privacy! It is called
CryptoNote, and means that all transactions are mixed in a protocol level. This is imo the most advanced privacy that is currently found in crypto universe, although I am sure that some disagree and let them teach me how I am wrong
The coin is probably circulating quite widely already. New mining is about 30kMRO per day (
BTC180), which is about $100k (!) and the price is rising (despite that). This is not a pump and dump coin, because the inflation takes care that new coins are constantly coming to the market. A word of warning though - the market cap may seem lucratively small, but the total issuance of MRO is 20 times the current, which is a little less than that of BTC. Therefore it is easy to compare the relative valuations by just comparing the prices. At 0.006 BTC currently, MRO is not the cheapest coin around (1:166 of BTC). I would advice to not buy hastily, and not participate in bubbles (if any). Mining is also an option.
This is the first altcoin I bought, and I did it during the time when it had been listed in the exchange. My relative position is less than in BTC though, so if only one remains, I would still do better if it is BTC
ADD: Relative position means: (my holding)/(total issuance). This is a reply to Rpietila. I won't talk more about alts on this TA thread.
You might have missed LibertyCoin (xlb)
There has been no premine and no IPOs
There has been no "Dark" history of premines in the past
It is a Proof of Stake coin that some will consider a pretty ecological alternative to bitcoin if the latter manages to achieve world adoption with huge miner farms wasted on just hashing.
It is Proof of Stake so it might be more secure as they resist a 51% attack than an equivalent Proof of Work coin.
It also provides some degree of anonimity with the use of LibertySend (aka Darksend)
Name could be a little less scary for the right-doers and state-followers than something shadowy like Darkcoin
It is still on position 27th of the Capitalization Market below coins like BillionCoin or scams like Maxcoin that deserve much less or oldies like Novacoin, so it has a long way to climb positions on the market cap aka price. So this could be a nice chance for those late to darkcoin or monero.
I think there might be a race on investment on the new breed of privacy-oriented-coins and there will be a good and healthy competition between them.
I am not saying this one is better than any of the others but some might prefer this flavour. And the different development teams competing between each other to offer the best degree of anonimity could change the market rules and maybe the valuation.
Disclaimer: I hold a small percent on Drks, Moneros and Libertycoins amongst other altcoins and of course the overwhelming biggest percent on Bitcoin.
