[XMR] Monero - A secure, private, untraceable cryptocurrency - page 6.

elrippos friend

full member

Activity: 1179

Merit: 210

only hodl what you understand and love!

Quote from: d5000 on February 22, 2024, 09:17:38 AM

Theory: now that Binance has delisted Monero, XMR price will slowly recover.

My impression is that it was Binance customers unable or unwilling to withdraw (and thus having sold their XMR) and/or panic selling on other CEXes what drove the price down, not a general change in the demand/supply equation. If you look at Exch for example, the demand for XMR there is so high that they charge 5% fees for several weeks now, but they have stated that their reserves still get exhausted fastly.

The dump on February 19 should have been the last significant one, caused probably by the last wave or Binance customers having sold their XMR.

I do not think that this is a theory, i think this is what really happened. Let's see in mid of march where we stand Grin

d5000

legendary

Activity: 3906

Merit: 6249

Decentralization Maximalist

Quote from: Mek on February 22, 2024, 09:38:43 AM

I think so too, but IMHO it will take long to recover.[...]
Maybe, when CBDCs come around and people realize that coins with public ledgers such as BTC and ETH can be tracked, that will be the time for Monero to step up.

I'm actually a bit more optimistic about the timeframe, although I agree the recovery will be slow and gradual.
First, a new equilibrium has to be found. XMR is still in the process of "finding the bottom", although the probability is very high it is already "in". Only if the crypto market is shaken by some external effect I consider sub-100$ prices possible. The most likely evolution is that it will hover around $120 for a while.
The second phase is when slowly new capital trickles in as people see the low prices as an opportunity. This will occur slower than with most other coins, due to the speculative altcoin investor being still in shock, and Binance not more available as a platform (there's still Kraken though, among the big exchanges).
But I believe this second phase can already drive XMR above $150 again in a few weeks.

What you write about CBDCs and a general increase of the level of conscience about Monero's usefulness is a long-term factor which makes it possible for XMR to reach a market cap at least similar to the coins of the "second tier" behind Bitcoin and Ethereum, like Solana, Avalanche or Doge. I don't see that this year though. More likely in 2025-27.

Moreno233

sr. member

Activity: 434

Merit: 253

Quote from: d5000 on February 22, 2024, 09:17:38 AM

Theory: now that Binance has delisted Monero, XMR price will slowly recover.

My impression is that it was Binance customers unable or unwilling to withdraw (and thus having sold their XMR) and/or panic selling on other CEXes what drove the price down, not a general change in the demand/supply equation. If you look at Exch for example, the demand for XMR there is so high that they charge 5% fees for several weeks now, but they have stated that their reserves still get exhausted fastly.

The dump on February 19 should have been the last significant one, caused probably by the last wave or Binance customers having sold their XMR.

It is obvious the fight against privacy is bigger than we thought and it is not looking like it will stop anytime soon. I never expected that the authorities will look in the direction of Monero because I felt they will stop at mixers. Binance seems to be easily shaken by the authority hence their decision to delist XMR. Other CEX will follow this direction in less than no time.

It will really take some time for the price to recover because the dump has distorted the balance in demand and supply mechanism. But with time, it will and it is unnecessary to be worried about the dump.

Mek

jr. member

Activity: 72

Merit: 6

mtc.mekweb.eu - mega transistor clock

I think so too, but IMHO it will take long to recover.
It is one of the few coins that actually have a usage for the long term. An unrecognized gem among all the sh1tcoins and tokens that appear daily. However, it doesn't have such strong marketing. Maybe, when CBDCs come around and people realize that coins with public ledgers such as BTC and ETH can be tracked, that will be the time for Monero to step up.

d5000

legendary

Activity: 3906

Merit: 6249

Decentralization Maximalist

Theory: now that Binance has delisted Monero, XMR price will slowly recover.

My impression is that it was Binance customers unable or unwilling to withdraw (and thus having sold their XMR) and/or panic selling on other CEXes what drove the price down, not a general change in the demand/supply equation. If you look at Exch for example, the demand for XMR there is so high that they charge 5% fees for several weeks now, but they have stated that their reserves still get exhausted fastly.

The dump on February 19 should have been the last significant one, caused probably by the last wave or Binance customers having sold their XMR.

Hueristic

legendary

Activity: 3836

Merit: 4969

Doomed to see the future and unable to prevent it

Quote from: elrippos friend on February 17, 2024, 08:12:40 AM

POLONIEX sucks heavily! It took me 3 months to get my funds from POLONIEX Shocked

In the future i will use BISQ, EXCH, Localmonero -> period Wink

I tried to fight them after Square bought them and stole my coins but I couldn't get the district attorney to do anything, they are a wholly owned subsidiary of the Goldman ballsack cabal.

elrippos friend

full member

Activity: 1179

Merit: 210

only hodl what you understand and love!

POLONIEX sucks heavily! It took me 3 months to get my funds from POLONIEX Shocked

In the future i will use BISQ, EXCH, Localmonero -> period Wink

Hueristic

legendary

Activity: 3836

Merit: 4969

Doomed to see the future and unable to prevent it

Quote from: Oakey22 on February 08, 2024, 04:26:32 PM

This may be the downturn on monero unfortunately, people need to be able to exchange this to make it viable.

Just the dumb fucks and who needs them anyway.

Oakey22

sr. member

Activity: 488

Merit: 322

Quote from: aTriz on February 08, 2024, 10:55:17 AM

Quote from: BitcoinVN_News on January 19, 2024, 05:48:25 AM

While nothing new for the hardcore users & enthusiasts around Monero, our team has written up a summary of the debate about the pending delisting from large exchanges such as Binance

https://bitcoinvn.io/news/binance-delists-monero/

This didn't age well lol. Binance is actually delisting Monero.

but I am pretty optimistic about that. I think Menoro is better without Centralized exchanges. If team behind monero stay strong. they'll recover from this unfortunate time sooner or latter. but they will.

This may be the downturn on monero unfortunately, people need to be able to exchange this to make it viable.

aTriz

hero member

Activity: 1232

Merit: 683

Tontogether | Save Smart & Win Big

Quote from: BitcoinVN_News on January 19, 2024, 05:48:25 AM

While nothing new for the hardcore users & enthusiasts around Monero, our team has written up a summary of the debate about the pending delisting from large exchanges such as Binance

https://bitcoinvn.io/news/binance-delists-monero/

This didn't age well lol. Binance is actually delisting Monero.

but I am pretty optimistic about that. I think Menoro is better without Centralized exchanges. If team behind monero stay strong. they'll recover from this unfortunate time sooner or latter. but they will.

mullick

legendary

Activity: 1064

Merit: 1002

Honestly the Binance delisting might be a good thing.

We will know if they were solvent and if so, big win

We will also know if they weren't as they will have to buy it back on the market to fulfill withdrawals. Still a win

jwinterm

legendary

Activity: 3136

Merit: 1116

Quote from: Hueristic on February 06, 2024, 05:31:14 PM

Fuck binance and good riddance, that is all.

While you're fucking binanace don't forget to fuck the system too
https://www.activism.net/cypherpunk/manifesto.html

Hueristic

legendary

Activity: 3836

Merit: 4969

Doomed to see the future and unable to prevent it

Fuck binance and good riddance, that is all.

EuSouBitcoin

sr. member

Activity: 490

Merit: 251

Binance Will Delist ANT, MULTI, VAI, XMR on 2024-02-20

https://www.binance.com/en/support/announcement/binance-will-delist-ant-multi-vai-xmr-on-2024-02-20-f73b083ba6834771b07dbe5319917ae5

jwinterm

legendary

Activity: 3136

Merit: 1116

Quote from: Mek on February 06, 2024, 05:03:22 AM

Monero price dipped, any1 knows what happened?

Binance finally officially announced delisting in a couple of weeks.

Mek

jr. member

Activity: 72

Merit: 6

mtc.mekweb.eu - mega transistor clock

Monero price dipped, any1 knows what happened?

Knight Hider

member

Activity: 239

Merit: 59

a young loner on a crusade

Quote from: Hueristic on January 31, 2024, 01:31:46 PM

They are lying they didn't trace shit on the blockchain,

Spreading FUD. They can't trace Monero.

Hueristic

legendary

Activity: 3836

Merit: 4969

Doomed to see the future and unable to prevent it

Quote from: zasad@ on January 31, 2024, 05:12:58 AM

https://cointelegraph.com/news/finnish-authorities-traced-monero-vastaamo-hack
"Finnish authorities traced Monero transactions tied to Vastaamo hack
Finland’s National Bureau of Investigation reportedly traced Monero transactions in connection with the criminal trial of Julius Aleksanteri Kivimäki and the Vastaamo hack."

___
How was the National Bureau of Investigation able to track Monero transfers?

They are lying they didn't trace shit on the blockchain, they used bitcoin and exchange logs.

zasad@

legendary

Activity: 1932

Merit: 4602

Buy on Amazon with Crypto

https://cointelegraph.com/news/finnish-authorities-traced-monero-vastaamo-hack
"Finnish authorities traced Monero transactions tied to Vastaamo hack
Finland’s National Bureau of Investigation reportedly traced Monero transactions in connection with the criminal trial of Julius Aleksanteri Kivimäki and the Vastaamo hack."

___
How was the National Bureau of Investigation able to track Monero transfers?

Knight Hider

member

Activity: 239

Merit: 59

a young loner on a crusade

Quote from: M.Antonio on January 26, 2024, 06:19:50 AM

why monero is offline at coinomi ? send to coinomi new electrum server

Coinomi is EOL. Read https://coinomi.freshdesk.com/support/solutions/articles/29000039549-exporting-monero-xmr-25word-seed-from-bip39-for-use-in-cakewallet-monerujo to recover your Monero.

Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency - page 6. (Read 4670972 times)