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I have been watching Monero for a while and I have considered investing, but 2 things concern me; the scalability, and the fact that in the coming years Bitcoin is likely to get similar anonymity and fungibility features.
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is it still worth to buy monero?
I buy a small amount every week no matter where the price is and haven't regretted it yet. Only wish I had been doing it sooner (as in before alphabay).  The next Alphabay will have a much, much larger impact on the fundamental value of XMR. For one thing, it won't allow BTC or ZEC (insert image of Cazes hanging by his belt in a Bankok jail cell). For another, it will grow faster and to a much larger size:. The pent-up demand will be enormous, and the fear factor involved in using BTC or ZEC won't be there to inhibit transactions. But bootstrapping trust requires magic. How long that will take, I do not know. If it takes too long, a technical solution will emerge. Cazes was caught by using a hotmail.com address in the AlphaBay welcome email, which had nothing to do with BTC. Are there any known cases of darknet market users being caught by tracing BTC transactions? I doubt police in most countries would have the resources to do that. And even if they use Monero, they would still leave a trace on their exchange when they cash out to fiat. So I don't see how using XMR on the DMNs makes much of a difference.Edit: I thought about this some more and I see the benefit now. Monero is untraceable and as a vendor this has great utility. Although I expect governments to hate this. Bitcoin will be regulated. XMR will be outright banned. One question: Assuming future darknet markets adopt XMR, will the Monero network be able to scale to accommodate that? |
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It is going to take me months to slowly offload my B cash. Lack of liquidity is the major reason. Selling all of it as that project has no future. Using Changely and Shapeshift as well to protect my privacy. Bit of a pain but worth it to avoid KYC exit.
I'm in a similar position but I have decided to wait. I don't care for BCH long term, but I believe it will be a success in the Asian markets. The fact that the large mining pools have been mining it for less profit than they would get mining BTC indicates that they have big plans for it. I also think they are in a good position to influence the Asian buyers who do not understand so well why small blocks are a better paradigm due to language barriers. I'm waiting for a ratio of at least 0.25 BTC/BCH later this year, possibly much higher since it is likely to be manipulated with a FUD campaign. |
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The reality is that businesses are obliviously just getting on and using non-bitcoin blockchains (= alts) for all kinds of things without any regard to those arguments.
They aren't. It is all just a marketing strategy to appear blockchain-friendly / forward-thinking without associating themselves with the negative public image of Bitcoin (drugs, hackers, etc). Bitcoin still works fine. Zero confirmation transactions are generally safe. Alt coins bring nothing new and have no advantages over Bitcoin. |
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Regarding TX fees, is it really such a huge problem? It's barely used as a currency as of now.
There are scaling solutions obviously so in the future, it's not a worry.
People see Bitcoin more as a store of value, for them higher fee's is not a major problem. Of course that needs to be fixed for lower tx. Then people are wrong - the chain that succeeds will be the one with the most utility, focusing on store of value will see Bitcoin replaced by a younger fitter prettier model. Store of value is all that matters for the forseeable future. Bitcoin will not be replaced in our lifetime. If Bitcoin does not "succeed" then you can be sure that no other chain will replace it, the concept of crypto currency will have failed. The best that any alt coin can hope for is to fill a specific niche. Sorry to rain on you but have to disagree, this is bitcoin/blockchain and things move quickly, if Bitcoin doesn't develop and evolve and add utility to its bag of tricks it will be replaced just like any other organism or technology. Bitcoin % of market cap is below 50% and the trend is one way at the moment. How much importance will people place on Bitcoin as a store of value when it's <30%, <20%, <10%? The money goes through Bitcoin to other crypto at the moment, but the bulk of new money is going to other coins right now because they have the usecase propositions not Bitcoin. One upside is that the big gainer of the last few days is cripple, and that tells us that the people investing don't understand the difference between a distributed and a decentralised ledger and still think a walled garden is a viable proposition on the internet. Bitcoin is battle-tested. No other coin even comes close to the security Bitcoin provides. The problems Bitcoin is currently facing would be just the same for any other coin. Bitcoin's slow (and cautious) progress is a feature, not a bug. The current financial system cannot, and should not, be replaced quickly. And ultimately, anything that most alts can do, will be possible on the Bitcoin blockchain via Lightning, Rootstock, Sidechains, etc. I wish no bad luck on anyone, but I worry that those people throwing money at alt coins are going to get burned hard. As the incentive to attack those chains increases, you can be sure that people are going to start trying. |
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Regarding TX fees, is it really such a huge problem? It's barely used as a currency as of now.
There are scaling solutions obviously so in the future, it's not a worry.
People see Bitcoin more as a store of value, for them higher fee's is not a major problem. Of course that needs to be fixed for lower tx. Then people are wrong - the chain that succeeds will be the one with the most utility, focusing on store of value will see Bitcoin replaced by a younger fitter prettier model. Store of value is all that matters for the forseeable future. Bitcoin will not be replaced in our lifetime. If Bitcoin does not "succeed" then you can be sure that no other chain will replace it, the concept of crypto currency will have failed. The best that any alt coin can hope for is to fill a specific niche. |
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I saw that wall. It's kind of ridiculous. Don't multi-millionaires have more fun things to do than flash monster-sized bitcoin walls?
I can only imagine he's doing it from his private yacht just to laugh at us.
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Reddit is a giant trollbox and arguing with trolls is a waste of time. Core devs shouldn't have to deal with this. Forget Reddit even exists and focus on making progress.
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fap till death
Spend the rest of my days fapping
Shame that so many Bitcoiners are bedroom-dwelling teenage losers. I hope those kind of people never get rich, what a waste. |
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Bitcoin is not ready yet. In a few years I can see this as a real possibility.
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I'm quite amazed where these huge sellers get their coins from.
I'd love to talk to 1 or 2 of these people and ask them what their motivation is for keeping the price down. These damn sell walls all the time. Normal market behaviour my ass.Exactly. It's fucking ridiculous. |
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He's obviously trying to push the price down to buy more. I wish I had several thousand coins to play with like that. It must be fun!
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That wall... Who would want to sell so many coins so cheap? It makes no sense  |
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Some lucky people are getting cheap coins.
wrong wrong wrong, bitcoin is going nowhere but down, any one buying it would lose their money! Can't someone just ban this fucking idiot? |
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Looking good. I mean, for those people who are wanting to buy.
The question is how long the horizontal trend will last. Can't wait forever u know.  And you aren't the only one. I think the best way to answer your question is to find out who has to sign off on what inside the SEC before COIN gets listed. Find out what side of their bread is buttered, and you will know the outcome. If you can isolate the key decision makers, then trace the financial moves of their friends & family, you may see exchange-based bitcoin accumulation, or buying into SecondMarket's fund et filia. That would be a big red flag in front of the bull move. I like your thinking. |
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Crazy market this really, no way to predict these rises and drops-
I am still BTC poor enough that this is fun to watch.  The more BTC you have, the more fun this is.  |
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As I wrote that it is absurd that we were going up, everybody was bashing on me and was writing "to the moon" Now we go down and these morons are silent. Thanks to your "to tha moon" BS I also get in panic and bought @685 with every money I had (50K). And now I´m fucked. No you're not. $685 is a great buy in price to go all in. If you can't handle daily ups and downs like this then investing is not for you. |
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so much bear fail these last few pages it's hilarious
I made 60 BTC in last crash so I wouldn't say it's a fail. I could do better though if I haven't sold at 580$ earlier, I never expected to see this  You must be trading with a large stash to make that kind of profit. I'm nervous to risk my moderate stash at all. |
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It's a good day for us hodlers. I knew this was coming. Have faith in Bitcoin and it will be kind to you.
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