Bitcoin Forum

As Monero gets ready to graduate, and the GUI and Ring CT take front stage, I can't help but wonder - when will people realize they are still transacting on the equivalent of a VCR? 
 
Yes, we all have VCRs, and we all have invested a lot of time in building a great network of business and tech supporting them... But guys - we just invented the crypto equivalent of the DVD.  It's called Monero, and it does something Bitcoin can never do.  It incorporates true protocol level privacy from the first block to the last. 
 
So how much longer will we denominate Monero in fractions of a Bitcoin?  It can't be that much longer.  I predict by 2019 we will see a monster shift and a black swan almost no one sees - not even the crypto faithful. 
 
That's right.  Monero, not Bitcoin will become the default unit of crypto accounting.  Why?  Consider this: what's privacy worth?  It's worth a lot.  In fact, mathematics and economics predicts that privacy is usually worth 15x to 20x worth the public equivalent.  So expect it. 
 
By the 2020's, XMR:BTC will be at around a 20:1 ratio.  You heard it here first.

https://bitcoinmagazine.com/articles/mimblewimble-how-a-stripped-down-version-of-bitcoin-could-improve-privacy-fungibility-and-scalability-all-at-once-1471038001

Sandiman you know... if bitcoin ever did what it COULD do... there would be no alt-scene and no one would be talking here, you been here long enough to know that.

"Now for the bad news. Mimblewimble, in its current form, is not very compatible with the Bitcoin protocol. This is mainly because for Mimblewimble to work, script must be purged from transactions. As such, there would no longer be room for a whole set of Bitcoin features, like time-locked transactions (used for the Lightning Network among other things), atomic swaps (for cross-blockchain interoperability), and more.

But that doesn’t make Mimblewimble useless. Mimblewimble may, for instance, be the perfect fit for a privacy-focused sidechain. Bitcoin users could lock their bitcoins into a specific output on the Bitcoin blockchain and “move” their coins to the Mimblewimble chain. On this sidechain, users could transact freely and privately for as long as they want, until the new owner decides to “move” the funds back to the Bitcoin blockchain by unlocking the original output."  
  
Hmmm..... Now what does that remind me of? 
 
http://www.cnet.com/news/nsa-likely-targets-anybody-whos-tor-curious/  
  
Add-on privacy, treating untraceability as some kind of bonus feature WILL. NOT.  WORK.  This shows it.  Privacy must be inherent in a protocol from day one, block one - no exceptions.

Never said that, I am far away from being a bitcoin maximalist. Nonetheless, bitcoin related development should not be under estimated. I couldn't find the chart highlighting my point, but a big portion of btc transaction volume is a consequence of project development on the bitcoin network.


I can agree with that, but as time goes on, monero chance of enjoying network effect and so a minimal point of adoption for its long term survival are reducing.

You mean xmr/btc =1? I think is impossible cause eth, dash can't be that, xmr can't do it either, xmr is a terrific coin but not all altcoins can be bitcoin.

Very imposible is monero price in same one bitcoin
monero price and community still under ethereum and litecoin
is hihger over price litecoin is super very good but still imposible

This could happen only if something really bad happens to BTC and everything crumbles to dust.
I prefer something more realistic like 1 XMR = 0.25 BTC and both going upwards nicely. But even this is extremely hard to achieve.

I would say it would be impossible to reach BTC parity. Are you crazy? But we have been proven wrong before with the case of Bitcoin. No one would believe it would reach prices above $100 4 or 5 years ago.

but XAU breaks the record of bitcoin and setting 2BTC up market price lately.. Gold is the best investment here in crypto currency.
I think monero have the possibility to do it because the devs is very optimistic, I can't estimate the time for it but predict that it can reach it maybe 10 years from now. :D

As far as I know Monero is an infltionary coin.So no limit in coin supply!
And to reach parity I think there is only one possibility.This is Bitcoin has to lose massively in value.
But I doubt that this is going to happen.Sure there are no certainties and sometimes even the worst case happens.However I believe in terms of Bitcoin it is very unlikely.Monero had a huge pump.But I doubt it will pump to the 3 digitd or even high 2 digits.
Everybody invested in Monero enjoy the pump, but do not over ride it.Correction/dump will happen as this is needed due to market behaviours and a healthy price development.

Probably we won't see that in the near future. Just because an altcoin will never get the marketcap as the original cryptocurrency Bitcoin.

something really bad WILL happen to bitcoin... people will start to realize that bitcoin is not fungible

I told Monero will reach parity with bitcoin in 2015 spring but I was ridiculed out by Warz and some others who decided to dump their coins (you can verify this by browsing my post history).
I was told that I am delusional.

So parity between Monero and bitcoin is nothing new... In fact, I have started pondering the idea of Monero being more valuable than bitcoin and the fair value should be something like 1500+ usd/xmr which is roughly 2.5+ bitcoins.

No way will XMR and BTC reach price parity. BTC is accepted in many places and is listed on many big exchanges.
XMR is an anonymous coin and will not gain popularity with businesses and banks. Government will not support anon coins too.

never. the only reason people are getting excited about it is the anonymity.

there'll be a better alt that's anonymous, scalable from minute one and has a full set of facilities. one pump does not make a world beater.

If you think this is pure pump and dump, then you can benefit from that view as follows: Go to Poloniex. Deposit some bitcoins. Transfer the bitcoins to margin trading account. Pick Monero. Then Sell Monero. There are currently 112 000 XMR (over 400 k USD) available for you to short. When the price drops you can buy back the coins for cheaper and pocket the difference. If the price rises, then you get forced liquadation.

i'm not saying bitcoin's gonna get taken over. I am saying there'll be better alts and there's nothing stopping any alt from being dropped immediately if something juicier comes along.

monero's doing the right thing by chasing some actual adoption and maybe that'll stop it from being usurped.

Describe a better alt than Monero and how it would work. 
 
Or do you just assume incredibly complex tech is magic and better versions can be summoned at the whim of a sorcerer?

He is saying it will surpass Bitcoin thus not being "Bitcoin".

I have no clue if monero will get to bitcoin parity.

I do not think the Monero will get to the bitcoin parity in the next 10 years.
The bitcoin is much more popular and has more supporters.

I do not think so. XMR has a limit it is not like Dogecoin. I will ask around if what you said is true. But I do not think that you are right.

Looking at the trend, the highest Monero can hope to achieve is to be number two on the charts next to bitcoins. Anything more than that is pure fantasy if you ask me.

Or a question of time. Everything is a question of time... even IF monero would pass BTC... another time in the future sth else would pass monero... that is the circle of life :p. Survival of the fittest

The chances of even reaching price parity are slim imo. Bitcoin is already widespread (kinda) and the government will support it because it can be regulated. Monero on the other hand is anonymous and will most likely face opposition from the government, which may hinder adoption (and therefore growth) depending on the government's actions.
Although, Monero might as well become more widespread than Bitcoin at some point due to its anonymity. It's too early to speculate.

I think so. The bitcoin is much more popular at the moment. It will be the base currency in the digital world.

it all depends on how people view crypto as awareness increases. they might regard its principles as important in which case bitcoin might be seen as compromised if it's regulated to the hilt. I think the chances of that are somewhere around zero but you never know.

nobody knows about these things.
monero has the potential of going up. so it can rise to a nice price in the future. but to reach the bitcoin price would want a very longer time to get there. because bitcoin is very high right now and it will only continue on to rise and go even higher.

yepp

look at NAV coin.  one anon coint to the next

Or what nexus/ NIRO will be capable off

unless bitcoin goes down, and I mean way down, I think the possibility of parity is highly, highly unlikely.  ;)

Once liquidity is established, it is a superior transmission mechanism, as compared to any and all less liquid upstarts.  That's called a moat, and it requires some long-term sustainable strategic advantage to overcome it.  Features will not overcome it.

Today, if you want to move 100k discretely, XMR works.  That is a huge advantage over all pretenders to the anonymity crown.

Bitcoin has 1,000+ "better" alts that have a constellation of impressive improvements and features. We've seen how well that's worked out for the alts.

The main selling point of Monero is its anonymity and that is something governments hate. As Monero spreads wider, it will keep locking heads with authorities along the way.

Oppressors hate privacy, and the oppressed require it.  As long as there are oppressed people, Monero will see demand.

10 years? that would be a long wait.
SDC must have develop a lot of app before 10 years. the coin could be worth more than Monero has as according to their features, they are better than XMR. Not sure if its true but then people believe it.

If the Monero can reach the same price as the bitcoin, it is not a long wait. If it does, I can wait for 30 years.

Monero seems like it will be around for the foreseeable future,
(it survived the release of Zcash, which many predicted would kill the coin)
but its going to be a while before anything becomes equal to the price of Bitcoin.
5-10 years at least, if it EVER happens.

Don't discount the potential for it to reach BTC parity on a declining BTC.

Its impossible to happen since bitcoin is already well known alternative online payment by many company and website like namecheap steam or overstock and many more it is impossible right now to kill bitcoin.. unless if you can almost hack the whole network.
That is impossible to happen..

I think that not going to work and happen that monero can surpass the bitcoin. It may increase the value but not as bitcoin has the price at the moment.

A market cap around 1 billion USD is not unrealistic for XMR, it could come with the better adaptation through more user friendliness and improved privacy protection in 2017.

That is right. But Monero will be the same market cap as bitcoin.

Another Bitcoin killer  :D It should take place in queue there are hundreds of such

Does it seem like such an absurd question still, now in February of 2017? 
 
It will seem even less absurd in February of 2018.

No question is too absurd to be raised and in the case of Monero we might see higher prices than the ATH in 2016 this year indeed. I do not hold XMR at this point personally but some of my colleagues and friends do. They have all bought in when it was at just a quarter dollar and made great returns already, as far as I can see the highest returns for years. If XMR trades at 0.1 BTC/XMR by the end of 2017, for instance, I'd be very surprised -- yet it's not impossible.

Maybe the XMR/btc price has already reached peak.

That is an extremely daring thought. If that would be the case then peak was reached almost half year ago. I give this really slim chances. Not even 1%. For this all development on Monero should stop right now or better there should be some security flaw.

Actually I think there is higher possibility that XMR/btc price has reach its peak in only one weak time, then that it never reach it again.

That is true. I think the price will rise again if there are more usage.

Exactly, it will never touch the price of bitcoin because bitcoin become most popular currency, so the value Monero will increase but it cannot surpass the price of bitcoin. Even in coming days, there may be chances if people attracts to Monero.

When monero reaches parity with bitcoin how much will AEON be worth?  :D