Next year (2018 if you read this post in the future) almost all countries will have implemented the so called "Common Reporting Standard" (google it, and it's on wikipedia).
Actually many countries have already implemented it, but next year is the year where most of the "tax heavens" will implement it; see full list of countries coming on board in 2018 on wiki.
So, in short, what this means is that tax heaven will not exist any more, or at least not as we know it today. Everything will be disclosed to everyone (or at least to the tax authorities of everywhere). Especially banks will disclose every thing to the countries - so your money will be public.
So where do you think that wealth that is now stored currently in tax heavens goes?
The truth is that offshore jurisdictions are used for a lot more than banking secrecy, and the risks of hidden wealth start to outweigh the reward as the value increases. This applies to XMR as well. For example, you might be able to use monero to cover your humble day-to-day activities without suspicion, but good luck buying anything of significant expense without drawing attention to yourself and having to explain where the money came from. Most wealthy individuals and businesses will not take unnecessary risks to hide their money. Tax havens are used for asset protection, conducting international business, purchasing offshore investments, or minimizing taxes through legal means. All of this can be done without secrecy and it's associated risks. Monero definitely has some overlapping benefits, but I do not expect offshore wealth to start flooding into XMR purely for its privacy aspects. |
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Curious is the only reason XMR got a bump is because it is listed on a new exchange?
Is there any other reason ?
The listing wasn't the reason. Only the excuse. |
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Moneran's shouldn't forget the great Mintpal pump of 2014, which resulted in an ATH that wasn't broken for two years.
The important point though is that the price record was reached before trading began at Mintpal. Perhaps this time is different?
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We're approaching our old ATH of 0.0265.
EDIT: just broke through to 0.029. New territory.
Next price target: 0.0472 (or $204 USD)
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Last few pages are a good argument for modded threads. I don't get why you would come to the price speculation thread to troll. You obviously don't own any that's fine but is it worth raising your blood pressure to spin obvious FUD for no tangible reason? Go for a walk or do something worthwhile with your time. XMR and cryptos in general are way beyond people trolling a thread on BCT having any impact on the price, that's why loads of new coins barely even bother in this cesspool anymore. if you feel so strongly about it go and start a new thread about how shit you think XMR is and you can all circle jerk in there.
There's at least one good reason for people to troll in here: they're being paid to do so. |
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I am a longtime Monero supporter. I bought within a month or two of the coin's issue in 2014, when Bittrex first listed it. Monero is my biggest holding, more than any other crypto, and more than my dollar-denominated assets. I had to get my bona fides out of the way because of what I am about to say. And I want you to read and consider.
All the back and forth, including refuations posted by Monero people, are 99.9% motivated by partisanship.
Wake up and stop acting like kids in the schoolyard.
I come to this thread to read and communicate with people who understand crypto, and what I see is the same dreary tit-for-tat that infects every debate I'm following, whether it's core vs bitcoin cash, Monero vs Zcash, and all the rest of the small minded wrangling over crypto controversies.
Grow up, people. There's much more to this than winning the argument.
I want to read something written in a tone of detachment. A high-handed, superior tone, and the conviction of your own righteousness, counts for nothing with me.
God damn it.
I'll go ahead say what I'm sure others are thinking. Many of us do think we're superior, because we are. Sorry if that isn't politically correct enough for you, but the entire crypto space is a bunch of greedy scumbags jerking each other off, and XMR doesn't play along. We have the moral high ground and a lot of people hate us for it, because no matter how much they tell themselves they're making the world a better place, we're a constant reminder that they're a fraud. Make no mistake, I definitely have skin in this game. But I sleep like a baby. |
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According to my rule of thumb the near-term target is .0293 BTC, or 117 usd
What is your rule of thumb, if you don't mind sharing? I expect the price to hover in the 80-90 dollar range for the rest of the week. There might be a dip after trading begins at Bithumb before another push to 100 and beyond. |
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Not really, most days xmr has been just as red. And the big difference is that all those other coins are winding down from the spring 2017 alt bonanza.
Guess which coin wasn't invited.
Actually, XMR hosted that party in August 2016, watched carefully as every greedy scumbag in town showed up, and then barricaded the exits. The great crypto massacre is coming. |
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And no, I don't think "a fungible currency like XMR is useless".
Okay, I'll bite. What do you think would be the difference between XMR and "a fungible currency like XMR?" |
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You know we're close to the bottom when the trolls start showing up. The next couple weeks should be interesting.
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The argument for a shrinking money supply being better or more attractive to holders because of expected greater scarcity makes no sense. If a money supply that shrinks at 1%/yr is good, then shrinking at 2%/yr would be better, etc. Where does this end?
Not to mention a shrinking money supply ultimately dooms the currency (and all value associated with it). As long as the rate of lost coins is greater than zero, Bitcoin's total supply will eventually be zero. So our friend kwukduck would rather have a non-existent currency than a currency that marginally inflates. I won't bother with the rest of his arguments because he's clearly not interested in understanding the issue. |
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For those who think we should be advising people to invest: are you freaking kidding me? Two disastrous exploits have been discovered in the past 12 months. The former was part of the RingCT implementation and was thankfully fixed before getting into the wild. The latter (the Curve25519 small subgroup attack) was live in Monero's codebase for nearly three years. This project isn't anywhere close to "battle hardened" or ready to depend on with your life. Be responsible.
Investing in crypto is a dangerous game, and I will not be advising others to do so anytime soon, regardless of my personal successes or failures.
Smooth is simply saying "don't try this at home kids, unless you know what you're doing." What's wrong with that?
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I tried to describe a dual currency model, in which a fungible hard currency (monero) facilitates the productive functions of capital markets, and an inflationary or freigeld-class of currency floats against the hard money, at some market value. It is the issuance and distribution of the latter which provides UBI. But in order for capitalists to sell their goods, they need to accept and exchange freigeld.
Remember Gresham's law. The currency undergoing inflation or demurrage will see transactional demand, while the hard money will see reserve demand. The clearing exchange price will depend on where the ISLM curves of the two currencies balance.
This is why I was pushing for Monero to have an exponentially increasing money supply in our old economics thread debates. An electronic cash with a higher transactional demand can penetrate markets much faster (assumption) because even the earliest of adopters have incentives to spend it. I believe this is at least partly why Bitcoin hasn't exploded into popularity as quickly as many expected. What is the ratio of people spending compared to those waiting around for the price to go up? I don't think a single money can serve as the preferred currency for both transactional and reserve purposes. |
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Was always a little curious about people's long term 30-40 year outlook on hard metals in relation to asteroid mining myself.
The cost of production of space rocks will always be vastly higher than earth rocks, so it doesn't matter whatsoever. Why do you make that assumption? That's like saying production in the united states must always be cheaper than production in China. |
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By the way, how the holy fuck can you not know what Bytecoin is?
He's been trolling this thread for years and still doesn't know Monero's history. Then he talks about the professionalism of Dash as a 'Corporation' compared to that of Monero. I used to think he was just greedy and unconcerned with the goals or purpose of cryptocurrency. Now it appears I've been giving him too much credit. |
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Dash is a professional project that have people working for it and they get paid, so what?
Monero is guys trading with Aminorex and circle jerking each other and nobody gets paid [...]
Good point. Evan has to pay people to work on Dash, whereas Monero attracts contributors because the project is actually interesting. |
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What is the long term prediction for monero? It is the oldest anonymous currency used on darknet markets. Will zcash replace it? Is it wise to hold monero for a few years or will it be obsolete by then? Please comment if you are holding long term. In a few years zcash, zcoin and others, even bitcoin could make monero seem clunky and old. Opinions please
Don`t think Zcash will replace it ... afaik you will ALWAYS need to use the public-chain t-adresses to use Zcash at an exchange, and if your coins come from z-adresses the exchanges just might block them like coinbase does for bitcoin. Perhaps not technologically Zcash will not replace Monero. However, marketcapwise it is pretty much the matter of time unless someone of us decides to significiantly increase his/her position in Monero. New adaption hardly will come as there is no outreach. Good. Monero isn't bulletproof enough to be ready for massive amounts of attention. |
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I was kind of surprised this morning to see that Monero was down 5% at 48.45$ and number 11 on coinmarketcap. Is there any particular reason why it’s like that or is it just fluctuation?
Bitcoin dropped down below 2500 USD while XMR's BTC price remains relatively unchanged at around 0.019. I still maintain that XMR's next move up will be a big one and will break the previous ATH in BTC as well as USD. |
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I believe this is our last trip under $50 USD. I expect the next move to clear $70 or higher.
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