Will Monero Be The Best Investment In 2020?

[DaMut]

decentralized might be a thing in 2020 but from the looks of it, privacy coin does not have a bright future ahead because of strict rules coming from the government. what is the point of using privacy coin if the exchange and the government know how many transactions you are going to make and to whom are you going to send.

[qwizzie]

Monero's official website got hacked a month ago : https://arstechnica.com/information-technology/2019/11/official-monero-website-is-hacked-to-deliver-currency-stealing-malware/
How can anyone trust Monero's Dev Team, when they can't even secure their own official website ?

Until an explanation has been provided on how hackers got access to Monero's official website in the first place, i would be very wary using Monero (especially their downloadable binaries).
Also Monero is just not used all that much with regards to transactions, which means it is failing its primary use case : https://bitinfocharts.com/comparison/transactions-bch-dash-ltc-zec-xmr.html

And last but not least, this is not a good way to boost confidence with investors : https://www.coindesk.com/moneros-fluffypony-steps-down-as-lead-maintainer-of-privacy-coin-project

Dude... So weak...

Explanation about the hack: https://web.getmonero.org/2019/11/19/warning-compromised-binaries.html It was hacked for like 13 minutes, before it got noticed, pretty impressive imho...

That just describes the the hack itself, it does not describe how hackers got access to Monero's official website / Monero's closed off box.
Which is far more important to know. How did hackers compromised Monero's official website and download servers ? How did they get to Monero's closed-off box ?

https://www.reddit.com/r/Monero/comments/dyou81/psa_weve_posted_an_announcement_regarding_the/


One whole month has passed, surely its known by now how the breach occurred ? How long does it take to investigate a closed-off box ?

[rdluffy]

I believe in the project since first time I know about this coin, I share the same ideas of the team/coin and I support having this coin on my portfolio
XMR is the most known coin that is based on privacy, so it's the leader and another coins have to achieve XMR

[Mighty_crypt]

Well!! Did you know? One of the altcoin called monero has gained so much popularity in the crypto market, as it is showing the best signs in the market.
Several cryptocurrency experts assume that monero has the ability to show its potential in the crypto market.

According to crypto expert monero price will rise high in the coming days.
https://coinpedia.org/information/xmr-monero-price-prediction/

Let me know your point of view on this?

Maybe, because very soon after countries start releasing their digital currencies many will start patronizing privacy coins, few privacy coins are more secured than monero and most darkweb users who want things safe from preying eye uses monero instead of bitcoin

[Wysi]

Monero used to be one of the best coin when it comes to privacy and honestly Monero and waves got so much of hype at one point of time we thought they will find their spot in top 5 coins but it all vanished and now I don't think Monero stands a chance for comeback due to competitors with similar projects.

[Beparanf]

Monero used to be one of the best coin when it comes to privacy and honestly Monero and waves got so much of hype at one point of time we thought they will find their spot in top 5 coins but it all vanished and now I don't think Monero stands a chance for comeback due to competitors with similar projects.

Monero will always be a good investment even in bear market it still perform well in terms of trading it. But since there are already plenty of altcoins and many were considered top, we can't tell yet whether it will get again a chance like it did perform. But having it as an investor short term trading and long term holding is what I still consider safer than the other altcoins.

[jacafbiz]

Monero is a good privacy coin but many new privacy coins have surpass monero, these coins have better stealth mode and better privacy features, the best one on my mind is veil coin and Apollo currency which i feel it will do better than old privacy coins

I disagree with this point, can you name some of the many privacy coins that have surpass Monero? The only privacy coin outhere that is competing with Monero interms of privacy is Zcash, the rest are jokes. Just look at Beam and Grin recently, the both failed to gain traction. To me Monero is very dark coin  and lack of good marketing team  like that of Dash and Zcash is affecting its price.

[nickenburg]

I don't think monero will be the best investment of 2020, that is a pretty hard statement to beat anyway.

It will probably be a good investment, I remember the time where Monero was still under 2$ and reading about Monero on this forum, I was sold and started investing in it to.
People here where right about it and it turned about to be a very good investment, the wallet was still very hard to use for a person that didnt know much about pc's, It looked like a simple Ms-Dos window and there werent any advanced wallets out yet.
Now the wallets are more advanced and are easy to use for most people which is a good thing.

I think privacy coins will always have a use, especially with the darkweb markets, and criminals that want to send money in secret.
We will see what monero does in 2020!

[tsaroz]

Can't say about the best one. But it surely is a good crypto to have in your portfolio.
We don't know about where the regulations would go in 2020 and what would be the response of governments towards crypto.
Whatever the situation be, Monero is here to stay. It would even prosper in a restrictive time as it has greater degree of anonymity and if used in correct way, the transactions are untraceable.

[Ferris419]

This year many altcoins can be the best investment! Right now Dash is pumping good, as XMR is the best privacy coin, it's just matter of time for Monero to increase in price! Personally, I am not holding any privacy coins right now, but this year I have a plan to buy XMR and DASH! Bitcoin price looks very positive at this moment, whenever a bull run comes to Bitcoin, that will happen in MONERO too! So, a great year is ahead for the Monero investment!

[Darooghe]

I believe in Monero and It’s the best long term hold out there because of it's unique use case. There is nothing else that comes close in terms of full privacy. If you want to get out of Crypto and taxes aren’t your thing, you convert it all to Monero and sell on localmonero and nobody will be able to track anything you did. Further, remember all cryptocurrencies should be understood as long-term speculation. If you believe, as I do, that Monero have a good chance to appreciate rapidly against fiat currencies due to their intrinsic properties, then buy it now.

[ReiMomo]

Monero's official website got hacked a month ago : https://arstechnica.com/information-technology/2019/11/official-monero-website-is-hacked-to-deliver-currency-stealing-malware/
How can anyone trust Monero's Dev Team, when they can't even secure their own official website ?

Thank you for the heads up on this, I did not know this news. But I think, this does not give any effect on the price of Monero.
That is only a website, not just a wallet, the main wallet of them, unless if there are hacking incidents and successfully hacked thousands of Monero's being transferred into another wallet. But so far does not happen. I think I am in favor of Monero compared to XRP, it totally did not makes any sense.

[Pffrt]

Not only Monero, I think almost all the privacy cryptocurrencies which are more less true privacy crypto will be a good investment in this year. Monero will lead the privacy cryptocurrency for sure which will bring it to 5x in the bull I think. It has real demand in darkweb also which is a good sign.

[X-ray]

considering that some of governments are trying to delist privacy coin from exchanges that regulated under them. I don't think monero will be the best investment in 2020. Just give monero more popularity for its capability of becoming true privacy coin then all the government will take action against it.

[valuater]

It's hard, especially when there are too many transparency coins, not to mention there are a number of newcomers coming this year. I think the chance of a monero to be a good investment will be difficult.

[cotton ball]

Although on the top ten coin I think monero or XMR is not good investment coin because can't moving with higher or lower price, I think better for investing with coin have moving faster higher or lower price like BCH and BSV, look last day how both coin change more than 50% and give much opportunity to get profit faster than other coin.

[qwizzie]

Monero's official website got hacked a month ago : https://arstechnica.com/information-technology/2019/11/official-monero-website-is-hacked-to-deliver-currency-stealing-malware/
How can anyone trust Monero's Dev Team, when they can't even secure their own official website ?

Thank you for the heads up on this, I did not know this news. But I think, this does not give any effect on the price of Monero.
That is only a website, not just a wallet, the main wallet of them, unless if there are hacking incidents and successfully hacked thousands of Monero's being transferred into another wallet. But so far does not happen. I think I am in favor of Monero compared to XRP, it totally did not makes any sense.

This concerns the official Monero website that provides the binaries of the wallets. The hacker replaced a good wallet binary with malicious wallet binary.

"Roughly 9 hours after I ran the binary a single transaction drained my wallet of all $7000," the person wrote. "I downloaded the build yesterday around 6pm Pacific time."

Monero was lucky that :

1 : an user found a hash difference in the binaries rather quickly and placed an alert on Github
2 : only one person was affected by the malicious binaries replacement that drained his wallet of his Monero with a wearth of $7000

This all still does not explain how the hacker compromised Monero's official website in the first place. Which is currently my main concern.
Not a word about the analysis that was performed on the closed box / server a month ago by Fluffypony. This means there is no information who exactly was responsible for
Monero's compromised official website and no information whether current security measurements to protect the box / server are sufficient.



 

[ChrisPop]

Nevertheless, Monero is one of the oldest coin the market and it has survived the bear market so far. On the plus side it is a privacy coin which I think will have a high regard in the next bull market and it will come because the market moves in cycles.

My personal opinion is that a well-diversified altcoin portfolio is the right way to go on the next bull market, but don't take my advice for good, I am not a financial advisor and this is not a financial advice.

[Xcode7]

Well!! Did you know? One of the altcoin called monero has gained so much popularity in the crypto market, as it is showing the best signs in the market.
Several cryptocurrency experts assume that monero has the ability to show its potential in the crypto market.

According to crypto expert monero price will rise high in the coming days.
https://coinpedia.org/information/xmr-monero-price-prediction/

Let me know your point of view on this?

This is just how monero maintains its title as the first privacy coin in cryptocurrency, so that it can still compete with new coins that skyrocket and become a favorite, I think if monero can consider this, it is no longer possible, but it is certain that the monero can return to glory like in the beginning emergence. And I hope monero will again dare to compete and side by side with other coins.

[DarkDays]

First off, don't believe everything you read in the news. These sites are designed to spread whatever information will get them the most views, while these articles are often written by people with little to no trading experience, and certainly no degree in finance.

With that said, Monero does look like a strong asset for the long term. As regulators crack down on digital assets and remove all paths to anonymity, cryptocurrencies like Monero become increasingly relevant. However, I wouidn't be surprised to see an outright ban on privacy-coins, which could eventually hinder the growth of Monero as established businesses and companies choose not to interact with the coin or support it.

Personally, I think we're at least a few years until that is a realistic concern though, so there's still plenty of time for growth. Hopefully, between now and then, Monero evolves into something that cannot be blocked.