Topic: [XMR] Monero Speculation - page 96. (Read 3313076 times)

Looks like we are gaining, volumes keep on growing. The next two months will be interesting 

OK, fess up, who's buying?

It seems totally stable for last 2 months. It could stay same for next 2 months since late summer is always slow.  At least volumes will probably stay low.

For those that dont know, XMR.to added lightning network payments. It seems it is even easier to pay with Monero then if you have Bitcoin.  OK, most merchants that have Lightning network payments also have Bitcoin payments. But not all and this feature will come more and more useful as more merchants will offer lightning network payments.

In the ever-present 68-72 range this is where to sell again.

But one of these times it's going to NOT be.

Is *this* one that time?

I don't know why, but it LOOKS to me like Monero is trying to pop out of this tight range.

Monero has been crazy low volitility for a while, and has seemed to move in a contrary way to BTC a lot of the time.  This last little bump is exactly that... BTC couldn't hold 9400 and as it fell Monero scooped up some momentum.  Interesting.

More green shoots is nice to see

https://bitcointalksearch.org/topic/warning-ucifeth-fake-team-beware-sending-money-to-their-ucif-scheme-5241904

Heres a link to the scammer tags.

https://bitcointalk.org/index.php?action=trust;u=2117132
https://bitcointalk.org/index.php?action=trust;flag=2020;support

Are you glad you posted this SCAM here?

Well damn this is cool

I forgot, is there any work in progress for a “LN” type of network for Monero?

And cAPS, what makes you think running nodes will become more centralized than what Bitcoin already is? Or is that not what you’re saying?

^ Great post cAPSLOCK, thanks.

You can now pay Lightning invoices directly from https://xmr.to/
https://old.reddit.com/r/Monero/comments/ho5ibv/xmrto_added_lightning_network_payments/

I know I am highly biased.  But I still think XMR might actually be the most undervalued ALT in existence.

- defacto standard privacy coin
- one of the few truly decentralized alts
- 3rd largest dev community after BTC and ETH
- ONLY blockchain other than bitcoin with a growing real world use that is not synthetic (like weather data on BSV)
- RandomX effectively purpose built to define the CPU as the Monero ASIC. I will opine on this below
- Growing transaction volume
- Growing hashrate (presumably w/o ASICS)

I think RandomX has surprised me the most.  I felt like chasing ASIC resistance was becoming a very costly goal.  The bi yearly forks were a net negative in my humble opinion.  I was glad the consensus was to stop them after the final try at RandomX.  And that we felt the need to call the hard forks "network upgrades" was sort of proof that we knew we were doing something that is anti-decentralization for the tradeoff of defeating ASICS.  As much as I loved taking out bitmain on that first algorithm tweak, it was a bit of a defeat to keep doing that.

But RandomX is an ENORMOUS security upgrade for the network.  It makes mining centralization much harder to achieve.  And it sets monero apart as the truly CPU mineable coin with the newer AMD chips being the closest thing to an ASIC.

Monero is really the single coin with such a robust set of unique values.  I see some folks (and I know there are some here too) that still expect Monero to displace Bitcoin.  I have enjoyed watching @_the_archer on twitter opine about how Monero will eventually flip Bitcoin.

And I agree that Monero is what everyone thought Bitcoin was at the beginning, but not only do I think Monero cannot flip BTC, I have always said I think XMR is a compliment.  We NEED a transparent ledger, and an obfuscated one.  Also XMR is even less scalable.  It will end up being somewhat costly to use if it continues to grow.  Either that or the full nodes will become centralized.

Anyway...  I sure hope the promise of Monero is realized to some extent before I shuffle off this mortal coil.   Even though I still see BTC as the better "store of value" I think Monero's transnational value makes it far more valuable than it's current price reflects.

$66.66  

Monero was not meant to be an investment but was made to be used as digital cash. When you will need to buy something or sell something, do think how to do it with help of Monero. Transaction fees are 0.2 cent. You can mine fees you need with your CPU.
If you want to invest go with Tesla shares or some other electric vehicle manufacturer. Their stocks are hot lately.

Sad but true.

https://www.youtube.com/watch?v=A8MO7fkZc5o

I used to think Monero was a good investment but its clear to me that the btc ratio will not recover anywhere close to what it used to be. Obviously privacy is the main selling point of xmr but in reality most people dont care about privacy. I dont think xmr will die anything because it has a niche following but at this point things like ethereum will give a much better return on investment. The sheeps are all over facebook and instagram posting everything about their lives.

I dont think is that wild. I had no ideas what was reason. I just thought that simply need to catch a breath after such a growth. But when someone mention it I thought it could be possible since was exactly the right timing. I could not think of better reason so far.

To link COVID19 lockdown here in Europe to Monero transaction volume sounds a bit wild, don't you think? COVID19 seems to be the fault for everything now days ....

Ooh, we had a decouple event today.
Stayed coupled to usd.

MONTHLY TRANSACTION COUNT
                 Monero    Bitcoin       Ratio
Jun 2020   340,895   9,192,440   3.71%
May 2020   400,871   9,092,682   4.41%
Apr 2020   365,875   8,702,021   4.20%
Mar 2020   303,291   8,904,203   3.41%
Feb 2020   231,953   9,439,548   2.46%
Jan 2020   257,942   9,612,337   2.68%
Dec 2019   216,720   9,430,057   2.30%
Nov 2019   212,716   9,243,776   2.30%
Oct 2019   179,114   9,892,853   1.81%
Sep 2019   159,225   9,798,992   1.62%

Second time in the last 9 months number of Monero transactions declined. In February decline was almost zero if we count 3 days less in a month. This drop happened at start of June. I heard someone saying it could be because of the end of covid-19 lockdown in Europe. We will see if number of transactions will increase again because of possible future lockdowns.  In general the growth in last 9 months is huge. Over 100%, while Bitcoin is about where it was.

Lol.  I wrote a JJG level ginourmo-post.  You said the same thing in under 40 words.

It is both good and bad.  But the thing is - it is no surprise.  Monero holds that crown.  And it is beginning to look like it will for the foreseeable future.  It is going to be used as private digital money more and more and more and more.

And nothing governments can do will stop it.  In fact if they come at it it will just just promote it.

I think the only risk is if it ends up being ONLY used for crime/ideologies that most of the world rejects/etc.  But how would that be?  Why wouldn;t EVERYONE want that privacy?

This is the question we have to ask ourselves, and if I am holding a significant amount of value in XMR I think I have to be willing to answer those questions.

That is the whole of the speculation at this point, in my humble opinion.

Here is the dollar price chart from this year. Some of bitcoins action is reflected.

I think the risk from this (directly) is small.  Any real shift will only happen if governments use it as an example of 'durr crypto bad'.  

I think this is unlikely.  Not impossible, but unlikely - no one in the whole cryptosphere wants to see governments banning (honest) coins, it would set a dangerous precedent.  And of course there is already a lot of big connected money already invested in - and supportive of - crypto in general.

This is a fringe case, Bitcoin was solicited by Hezbollah, dollars are still used for all kinds of nasty shit.  An attack on Monero is an attack on privacy, which is of course possible - but hard to justify without many interests beyond Monero's holders protesting loudly.