Topic: [XMR] Monero Speculation - page 39. (Read 3313076 times)

Yup transactions are again making a leg up. 5 straight days with over 25k transactions a day and 9 in last two weeks. Hopefully after weekend, next week will be the same.  Beside last 2 weeks when we had 9 days with over 25k transactions a day in the past was only 8 such days.


There was 7.5k XMR sell wall on Binance at 0.0075. It stopped the price growth for a while.  3k left now. I dont think it will last for very long.

It's very common for us to discuss Monero in here.

And no, I do not think it would be IMPOSSIBLE to trace transactions.  But I think Monero offers the most battle tested privacy of any crypto asset, and to date any weaknesses found have been addressed.  There is a reason a group of hackers smart enough to steal the designs of Apple's next processors are asking for the ransom to be paid in Monero.  Also the extremely large bounty offered by the IRS implies the strength of it's privacy.

Until we see strong proof that Monero's privacy has fallen vulnerable to forensics, I would think it would be the safest crypto asset in that regard.  Just it's history may be the most valuable reason to use it.  In other words... so far, so good.

Hey Capslock,

maybe you know more than me. I just saw you are discussing Monero. I myself rented Amazon instances back then and mined Monero. I was wondering, do you think it is 100% safe? Take into account a company like Chainalysis. Can they crack Monero?

Edit: I am not asking for tax evasion reasons, not at all!!

I am asking because I want to understand what's possible with crypto.

Cheers!

Oh boy...

https://www.theregister.com/2021/04/21/quanta_confirms_ransomware/

Looks to me like our handle is underway...

Agreed.  And one cool thing to remember is the Monero transactions are ORGANIC.  There is no bullshit being loaded onto the blockchain. No silly extra data.  The blockchain is being used for exactly what it was DESIGNED to be used for, and the growth even on a LOG chart is impressive. 

Monero's transaction per day have been going up steadily now for TWO YEARS:


Monero's hashrate has been incresing strongly since the advent of RandomX:


Monero's Stock to flow model has Monero well under it's predicted current price (~1k) predicting 2x that by the end of the year (2k)


Metcalf's law, which predicts a price based on the number of transactions (compared to BTC) shows the price underpreforming the model by nearly 20x with over 6k being the model prediction, though it has been accurate in the past, including the past bull run.


We are going up gentlemen.  Nothing else makes any sense at all.

(Charts from https://bitinfocharts.com and https://moneroj.net )

Holy transactions, Batman!  Lookin' good.

Anyone logged into poloniex in the last couple days?  I can log in but not navigate the site...

Looking back on the last 2-3 years, in my opinion there were many unexpected factors that were able to lift the cryptocurrency market as it is today and in general many cryptocurrencies offer the best technology and are also supported by professionals and trusted. team is the most successful cryptocurrency. So far and we can see how Ethereum and BNB prices are now very high and this is the result of their team's hard work, in my opinion this can also be experienced by Monero if indeed their team remains focused on developing Monero well because we see there are many advantages offered by Monero to its users such as transaction privacy, hard wallets and the latest technology, therefore I am very confident and agree with the price prediction that you say is $ 1500 and if that happens, Monero will break the ATH price of $ 542 which occurred last 2018.

I think in June we hit €1500+ 

I don't have anything to hide, but not for that reason I will be sharing sensitive data like that. Most of my spent Cryptos has been used for living and music, you know, house rent, food, service, and nice music instruments. So, nothing to hide.



This is good to know, I will keep an eye on this because I like the technology behind monero and always want to develop something with it.

Well I guess that makes me a bad guy LOL

I personally think ETH is a badly designed project that makes the mistake of building a network protocol that will have to scale without using layers.  This has TWO main problems.  First of all, ETH can't scale.  Secondly, every harebrained idea anyone has to build some lunatic Rube Goldberg machine risks not only the funds in it, but the stability of the whole network.  And there are MULTIPLE proofs of this insecurity in the history of the asset.

Monero on the other hand is a rock solid crypto asset with privacy by default, and one of the only coins that has a mining algorithm where we do not have to compete with hashrate demands of other projects, and a hybrid blocksize that actually combines the strengths of both small and big blocks.

The two projects are not even in the same class of quality. 

The coinmarketcap ranking is more about herd psychology, and narrative quality than it is quality of the actual project.

The reality is ETH has one of the strongest narratives of any crypto asset platform, in some ways even better than Bitcoin's as long as you do not grade it on practicality.

Monero's narrative is also quite good.  But people do not want to bet on simple/strong and basic when they can bet on complex/shiny and whiz bang.

In the long run, however Monero will see greater and greater use since it actually DOES the ONE THING it is designed to do, and does it EXTREMELY WELL.

ETH, on the other hand keeps inventing new problems to not be able to solve.

In the short run, I think ETH will keep drawing in suckers, so the price is not done going up.  And who knows... maybe it will actually survive and continue being "used", or find an ACTUAL useful use case.  Also I could be wrong.

But there is NO WAY Monero does not rise.  It HAS TO.

There was already a project to develop easier API's

Please link me to all your bank records, I want to know what you spend money on.

You don't have anything to hide do you?

It would also be cool to know if you hold enough assets to know if its worth breaking out a 5 dollar wrench.

XMR is right now in position 22 in coinmarket cap, and it will be kind of hard to see in in the top 10 because its application is more complex than other altcoins.

The complexity of the monero core brings anonymity to the users but at the same time is hard to develop APPs with monero. Isn't like the other coins where you can make easy RPC calls to create sign and push the transactions. The point is, if we have developed something with Bitcoin RPC we can rise that knowledge to build something with LTC or DOGE, but not with monero.

And the anonymous fact is cool, but do people really want to hide their identity? Only the bad guys need that.

Any chance of XMR to catch up with ETH (in terms of price) this year? ETH have the smart contracts, but XMR have the privacy. It should be on top 10.

Also, check Haveno: https://github.com/haveno-dex/haveno
It is a exchange based on BISQ, which is being developed for Monero.

Well... and not to be a bucket of cold water, but the RSI is way overheated on pretty much ALL the long term time frames (6hr - 3d) with only the weekly (and up) having some room to run.

This is the 12h chart.  I think it's not impossible to see more UP, but i think a correction from here is more likley...  and we could even see a neeto C&H here if it does something like this:



I think my biggest question is what is driving this rally?  We are seeing some fairly good volume on this run, and it is counter, or ahead of almost all other alts.

It feels like there is some fairly big buying going on...  I do not assume a big sale went on at WHM?   It is hard to see what REAL volume is doing with all the goofy wash trading at the shady casinos exchanges.

Who is buying?

Getting back above 007 is a big deal, it's a complete recovery of the Bittrex lows.   I think it's looking good for at least the rest of this month. 
Then (looking at historical trends) even if it settles back we should see one more early autumn pump.  BTC will of course dictate again for a while this autumn, with hopefully another run as the BTC pump settles back in spring '22.   
Just my gut feeling after seven years of close Monero watching.  The main thing is that it seems certain that Monero is - and will remain - a contender.  Top 20 MC is in plain sight.  Let's see Monero back where it belongs.

If only the Esperanto word for coin was Moonero.

That is what I am starting to call it now, though.

God I hope this is not just another XMR tease!  Gentlemen we have waited here long enough.  Seeing no one pay attention to one of the only crypto asset projects that has a chance to be important while things like Polkadot and LINK supplant it in the top 10.  I mean XRP is STILL #4!  None of this makes any sense.  Made fun of by the maxis, but we have all held strong.  We are a little band of survivors. 

I hope I am not jinxing it, but this could be our time!  The activity looks healthy.  One thing I have seen on temporary rises in the past is paltry volume.  This move smells organic/real to me.

Sometimes just takes a bit more between two blocks. It can take even 6 minutes and then can be few blocks one after another. But today Monero will reach new transactions ATH, so blockchain was never so busy as it is right now. Hopefully for first time over 30k transactions in a day.  



This is tricky to answer since everything can be changed when triptych happen at next hard fork. We will have to wait some more time before all will be decided and cast predictions while considering actual numbers. I dont believe Monero could have such growth of transactions to get blocks full before the protocol upgrade will happen.