Topic: [XMR] Monero Speculation - page 97. (Read 3314316 times)

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.

Oh damn...  I can't figure out if I'm supposed to be happy or scared cos on one hand it proves that Monero works.  On the other hand I expect more exchanges dropping it cos 'durrr Monero bad.'.

I think they use 55 gallon drums.

https://www.reddit.com/r/papermoney/comments/3s6g4y/colombian_farmer_finds_someones_600000000_buried/

Apparently is was common to hide these caches about.

I was not uneasy when this news site was accepting Bitcoin for 3 years. To me was total normal. If this news website was spreading some hate speech or however break some rules and regulations I am sure regulators have some ways to prevent it. Definitely donations are not the only possible way.  Only difference that will be now is that we will not know that 0.2 BTC was donated in last 3 years. Most likely will be less since Monero is less used. But we will simply not know that.  

Don't they drop the dollars off on huge pallets?

---

So a look at the charts for Monero dailies.

Look how solid we have been. Still with the rising volume and falling supply.




Still feeling good, unlike BTC right now feels a bit shakey.

[moderator's note: consecutive posts merged]

I'm sure they collect more in good ol uncle sam greenbacks than any other form of currency.

In god we trust, right?

This is one of those things that is inevitable, and complex enough in it's implications that it just makes me extremely uneasy.  And not in a simple way like: ISIS BAD!!! NO, MONERO!!!

This ABSOLUTELY proves Monero's unique use case.  And to be honest, if I was one of the hyper maximalists (Think Saifedean) this would give me tremendous heartburn.  Because there is a REASON that Monero is beginning to catch up to BTC on the dark web, and why a group like ISIS would eventually see it's usefulness.  

I am a maximalst insofar as I believe that (almost) no shitcoin does anything to IMPROVE on Bitcoin.  And even the functionality of a network like ETH can not only be replicated on Bitcoin, but possibly even in a way that offers a better set of tradeoffs.  Simplicity and Rootstock are being built on TOP of the highly secure BTC network without attempting to cram the computation on the base layer itself.  It is already evident, but it will continue to be, in my opinion, that the layered approach to adding features is the correct, and inevitable approach.

But base layer privacy is not something you can just do atop BTC.

I have been saying for years that Monero is unique among the myriad shitcoins in that it actually really does something Bitcoin, not only can't, but possibly SHOULD NOT do.  Privacy on the base layer has an EXTREMELY compelling and easily understood use case.  And it also comes with it's own set of costs and tradeoffs.  There is NO DOUBT about that.  The Saifedean types have criticized Monero claiming that the private base layer makes it difficult, or impossible to audit, and means that an inflation bug could be happening even now and be being exploited unnoticed.

But privacy on the base layer is SUCH a powerful and useful concept that even *if* XMR was currently suffering from an inflation bug, it's usefulness could arguably still outweigh the cost.  Back in the day Fluffypony used to say, Do NOT BUY Monero, USE it.  And that is the meaning I always took from what he is saying.  Monero is not really going for the "digital gold" moniker.  Even though there are arguments that privacy could be important there as well.  But Monero is going for the digital CASH crown.  It has taken it's seat at the table as THE DEFACTO fungible cryptocurrency.  PERIOD.  No amount of marketing on the part of Dash can change that.  No amount of butterflies and bubbles shit out by Zooko can overcome the privicy THEATER that ZCash is.  And Monero holds the network effect prize as well.

But... I am afraid all the above is going to make Monero too famous, too fast.  In the (parting) words of a wise man:


This is going to paint a HUGE blinking target on the back of Monero.  And I have to be realistic.  No amount of pie in the sky idealism will change the fact that even though EVERYONE wants what Monero gives us... VERY POWERFUL world governments are NOT going to look on this news cheerfully.

At least it's interesting!

GO MONERO!

ISIS-Affiliated News Website to Collect Donations with Monero

The herd often does exactly the opposite of what is prudent, and at best is behind the curve on good ideas...  It is just gonna take a little time.

It seems like the crypto market is closely tied to the stock market, don’t it? People are becoming panicked about this upcoming fall and (unwisely) starting to hoard cash in case of the worst to come.

Interesting tweet that someone posted yesterday on XMRtrader subbredit.

https://twitter.com/onchainfx/status/1273617901363306501?s=20


3 years ago today, here's what our top-20 would've looked like: https://onchainfx.com/wayback/2017/06/18

Only 3 of those 20 are up today vs then:
$BTC (+258%)
$XMR (+25%)
$XLM (+76%)

The other 17 are all down; 12 of them down over 50%.

Yes. I guess we are exactly 3 months from the covid-19 stock and crypto crash. Time flies fast. Without that crash price would be most likely close to $100 now.

Monero is one of my favourite cryptocurrencies. The price has increased since the last 3 month from $38 at 30March 2019 to $65 today.

I think places like Polo have run out of stolen coins to dump.