Better crypto market i.e. capital flowing into the space instead of a bunch of coins competing with each of other for the same scraps, each getting excited when it moves up a few spots on CMC, then disappointed when the pump ends and and some other coin becomes the favorite flavor of the day.
I totally agree that we're seeing a zero-sum churn. Litecoin bubbled last year. Now Ethereum. Before it was Bitshares. People are getting excited by nothing is really happening. The coins are all jockeying for position and no new value is being created.
We are really waiting for a resurgence in cryptocurrency as a whole. Monero just needs to stay on the list and maintain reasonable liquidity and a reasonable economy. When the time comes (if it comes), then XMR will get what's coming to it.
Right so the question is what brings capital. Cryptocurrencies have 2 primary "offerings": 1) decentralized currency 2) trustless remittance.
In the short term, I see #2 being the most realistic use of the technology. Once banks figure out that their permissioned blockchains are useless, they will need to assess the capacity, strength, and offerings of the existing open networks. The will obviously be attracted to use bitcoin due to its incredible security (hashrate, nodecount), but they will be turned off by its transparency and lack of capacity. Due to marketing etc., they will probably research at least 3-4 other networks before coming to Monero, which offers both limitless capacity and transactional privacy, but doesn't have a very robust network.
Unfortunately for us moonshot dreamers, the use of a cryptocurrency network as remittance backbone does not require any change in valuation. I.e., if big mega bank group decided to use monero as its remittance backbone, they could all just agree that 1 monero = 10 million USD
for their own record keeping purposes. So when Bank A sends 1 monero to Bank B, Bank B's record keeper will just "oh yeah Bank A just sent us 10 million USD". Its all just a unit of account. What that unit of account represents is up to the ones using the unit of account.
The valuation would change, however, if they require a lot of resources - i.e., a lot of these units of account. Because thats what monero (or any cryptocurrency) is... an ability to record in the ledger. So perhaps if big mega banks remittance backbone requires lots and lots of actual blockchain use (A sent to B and then B shaved 10% and sent 90% to C and C sent to D yada yada yada).
Of course the first offering, as a decentralized currency, runs the hurdle of completely unrealistic implementation where it is actually needed. I remember reading it somewhere, that cryptocurrencies were developed in the countries that need it the least - countries with a relatively stable and/or functioning government issued currency system. The people that truly need a decentralized currency system are the ones in countries with whackadoodle governments meddling poorly with the monetary system. The question is, of course, how to get cryptocurrency infrastructure into these places.
but im just saying things people already know. I guess I like to see myself type? (the equivalent of hear myself speak).
