(XMR) Hits New All-Time High for Transactions Despite Bounty Contracts

[btc_angela]

Privacy King Monero (XMR) Hits New All-Time High for Transactions Despite Bounty Contracts

Privacy-focused cryptocurrency, Monero (XMR) is seeing increased usage, despite an increased effort by regulators to trace transactions on the network.

Data from BitInfoCharts shows that on October 1, Monero (XMR) hit a new all-time high for transactions in a 7-day period. The number of transactions on Monero for the previous seven-days which ended on Oct. 1 was over 15,200 transactions.

The previous all-time high of 14.5k transactions was recorded on September 2, continuing a trend of increased usage of the privacy coin within the first three days of a new month.

https://coinfomania.com/monero-xmr-transfers-hit-ath-despite-irs-contracts/

Wait is your take on this? Despite government's effort to crack down Monero with offers to 2 companies already to developed a tool to break Monero's anonymity, traders are continuing to use it. Is Monero really that thing for this private focus individuals? Or will they move out once the tools could be developed in the next 8 months?

[aceboy44]

I just traded all my ETH (5) and got 16 XMR. Thinking about trading my BTC - XMR (or should I hold on to BTC?)

XMR seems to be getting attention now (which should increase its price.)

[Febo]

Privacy King Monero (XMR) Hits New All-Time High for Transactions Despite Bounty Contracts
Wait is your take on this? Despite government's effort to crack down Monero with offers to 2 companies already to developed a tool to break Monero's anonymity, traders are continuing to use it. Is Monero really that thing for this private focus individuals? Or will they move out once the tools could be developed in the next 8 months?

My take on this is simple. Monero is a lucky coin that will forever have free advertisement from companies, corporations and governments. They will write and talk about Monero. Hopefully they will also spend some time to try to understand Monero and use it for their advantage. Such advertisement other coins have to pay costly. And what is magically about it is that a lot of these people are not those that already have cryptocurrencies but no coiners and also people that rarely or even never heard of Bitcoin before.

I just traded all my ETH (5) and got 16 XMR. Thinking about trading my BTC - XMR (or should I hold on to BTC?)
XMR seems to be getting attention now (which should increase its price.)

You should never hod only one coin. But also not 10+ since then you simply cant follow development well. Having Monero for long term hold is a must.

[Lordhermes]

During the last month or so, several allegations on XMR project suspecting some illegal transactions from xrm explorer, which they (government) might have claimed to ban XMR,
My take on it is that, monero anonymity is a perfect one to those that want to hide their privacy transaction, I will made a clear question about Monero and bitcoin mixers, it the government is planning to crack down monero, then the same should go to mixer, the crypto industry consists of features, so likewise Monero own feature of anonymous and untracked transaction.

[Kelvinid]

My take to this is that we have been fooled again. I'm not sure if these impressive numbers of transactions are worth to believe or it will help the price to move. People now aren't confident enough about what they saw and the current issue that XMR had to face.

https://www.crypto-news-flash.com/irs-awards-1-25-million-to-chainalysis-and-integra-fec-to-crack-monero/

This is something more exciting to see how Monero will keep themselves into this as the government wanted to stop Monero.

Or the numbers of the transaction means that investors are withdrawing their funds from them (which is not also stated on the report).

[yazher]

I think the reason for this is, only Monero can hide their transactions. at this moment, there are lots of transactions and this is the right time for those people who wanted to hide their transactions from being trace by some bad people. No wonder Monero at it's new All-Time high right now because of the other investors who've been buying ETH and Bitcoin a few days ago. before withdrawing their money to fiat, they wanted it to be anonymous by converting it to Monero first.

[Febo]

https://bitinfocharts.com/comparison/monero-transactions.html#3m


Number of transactions in blockchain per day | 17,745

It seems new daily high. Last daily high was last Thursday at 17,430. Day after day more and more people are using Monero to preserve their anonymity.

[dhemasm]

I think for now it will still become a the most good and used privacy Coin, Even with bounty contract it was supposed to become "Not Direct" marketing? Not sure how to said that but basically with goverment try to crack monero anonymity it's means it was good option for now untill "Tools" Was ready to crack, Well let's see how it goes.

[Febo]

https://bitinfocharts.com/comparison/monero-transactions.html#3m


It seems two more records. Yesterday 18155 and today 19795. Not to mention that weekends are usually worst, so we should expect to new ATH to continue in next days.

[jacafbiz]

The all these Government agencies after Monero is doing is like promoting the coin. For me Monero is still the best privacy coin out there. I think there could be an argument that the transaction increases because of high number of people trying out the chain so has to be able to find weakness in the chain. I think this is very good for the coin and the space, free promotion

[Wenbing]

Privacy King Monero (XMR) Hits New All-Time High for Transactions Despite Bounty Contracts

Privacy-focused cryptocurrency, Monero (XMR) is seeing increased usage, despite an increased effort by regulators to trace transactions on the network.

Data from BitInfoCharts shows that on October 1, Monero (XMR) hit a new all-time high for transactions in a 7-day period. The number of transactions on Monero for the previous seven-days which ended on Oct. 1 was over 15,200 transactions.

The previous all-time high of 14.5k transactions was recorded on September 2, continuing a trend of increased usage of the privacy coin within the first three days of a new month.

https://coinfomania.com/monero-xmr-transfers-hit-ath-despite-irs-contracts/

Wait is your take on this? Despite government's effort to crack down Monero with offers to 2 companies already to developed a tool to break Monero's anonymity, traders are continuing to use it. Is Monero really that thing for this private focus individuals? Or will they move out once the tools could be developed in the next 8 months?

If desperate the regulatory effort of the government, monero keep recording increase in usage, that means its a coin that one can count on as a trader or investor.

But, what I'm not sure of is this; what does the government aim in regulating montero?

[H1N1]

Do you know the reason for high Monero price ? There must be some factors contributed in Monero price.
What i know, the privacy of Monero is become the target of IRS campaign. IRS offered USD 625,000 to who can compromise the privacy of this coin.
But the strange thing, Monero price keep increasing despite delisted on several exchanges and being targeted.

[btc_angela]

Do you know the reason for high Monero price ? There must be some factors contributed in Monero price.
What i know, the privacy of Monero is become the target of IRS campaign. IRS offered USD 625,000 to who can compromise the privacy of this coin.
But the strange thing, Monero price keep increasing despite delisted on several exchanges and being targeted.

Yes, this is what I said on my initial statement and I'm surprised as well that the price continue to go up despite the IRS campaign. Just now the price goes on another massive increased, 14% in the last 24 hours. I can only conclude that people and the investors are not affected by the negative news of IRS. Instead, they Monero enthusiast believed that they can't break it's anonymity features and will continue to be the number one privacy coin.

[Febo]

But, what I'm not sure of is this; what does the government aim in regulating montero?

You cant regulate Monero. Monero is decentralised permissions coin. Everyone can freely use it. What governments do is to control exchanges that operates in their distraction. So people that exchange Monero for fiat do identify them self and pay taxes on capital gain taxes they make. That is regulation we need. And that is a regulation we already have.


Uh and yesterday new transaction ATH was reached: 20136.  Now new transaction ATHs come almost every second day

[blockman]

The all these Government agencies after Monero is doing is like promoting the coin. For me Monero is still the best privacy coin out there. I think there could be an argument that the transaction increases because of high number of people trying out the chain so has to be able to find weakness in the chain. I think this is very good for the coin and the space, free promotion

They are not promoting Monero. They are taking it out because they find it more threatening than bitcoin. With that promoting that you're thinking, if they are taking down Monero from exchanges, the publicity that it's getting is what makes you think that they are promoting it.
But the outcome of it isn't like what you're thinking. Monero is getting the publicity and that's the bad publicity to be specific.

[TravelMug]

The all these Government agencies after Monero is doing is like promoting the coin. For me Monero is still the best privacy coin out there. I think there could be an argument that the transaction increases because of high number of people trying out the chain so has to be able to find weakness in the chain. I think this is very good for the coin and the space, free promotion

They are not promoting Monero. They are taking it out because they find it more threatening than bitcoin. With that promoting that you're thinking, if they are taking down Monero from exchanges, the publicity that it's getting is what makes you think that they are promoting it.
But the outcome of it isn't like what you're thinking. Monero is getting the publicity and that's the bad publicity to be specific.

Maybe what he is saying that since government are very interested on Monero, it might have open others eyes and become curious to it, so it might not be a direct promotion, but they are giving Monero the spotlight now sort off. However, I don't think that others are trying to break Monero (besides the two being hired by government) will more likely increase its price.

The only reason I can think of is that it's one of the most speculative coin, and traders are buying it and then dump as soon as they profit. Of course there are hardcore enthusiast who put their money into it for privacy purposes, but I don't think it is enough to push the price.

[SquirrelJulietGarden]

Wait is your take on this? Despite government's effort to crack down Monero with offers to 2 companies already to developed a tool to break Monero's anonymity, traders are continuing to use it. Is Monero really that thing for this private focus individuals? Or will they move out once the tools could be developed in the next 8 months?

What governments can do if they can break anonymity of Monero transactions? I think not all Monero users will get troubles and how long of cash flow governments will use to lift the hammer on people who have flow of capital relates with bad Monero addresses.

I mean one person can do money laundering but later on the money flow will not stop, it keep running and many people will be connected with initial bad trades.

[thenextking]

I remembered back in the old days Monero vs Dash, look like Monero is clearly the winner now.

[Febo]

The only reason I can think of is that it's one of the most speculative coin, and traders are buying it and then dump as soon as they profit. Of course there are hardcore enthusiast who put their money into it for privacy purposes, but I don't think it is enough to push the price.

No Monero is to only coin that is used in businesses for transactions. totally opposite what you just said. There is even meme: Dont buy Monero unless you plan to use it. 
Why is Monero used?  Because its transaction cant be linked. Business are not afraid someone will spy on their transactions.  Who they transact with and at what amounts. This beside less then a cent transaction fees makes all this transaction number growth.

[blockman]

The all these Government agencies after Monero is doing is like promoting the coin. For me Monero is still the best privacy coin out there. I think there could be an argument that the transaction increases because of high number of people trying out the chain so has to be able to find weakness in the chain. I think this is very good for the coin and the space, free promotion

They are not promoting Monero. They are taking it out because they find it more threatening than bitcoin. With that promoting that you're thinking, if they are taking down Monero from exchanges, the publicity that it's getting is what makes you think that they are promoting it.
But the outcome of it isn't like what you're thinking. Monero is getting the publicity and that's the bad publicity to be specific.

Maybe what he is saying that since government are very interested on Monero, it might have open others eyes and become curious to it, so it might not be a direct promotion, but they are giving Monero the spotlight now sort off. However, I don't think that others are trying to break Monero (besides the two being hired by government) will more likely increase its price.

The only reason I can think of is that it's one of the most speculative coin, and traders are buying it and then dump as soon as they profit. Of course there are hardcore enthusiast who put their money into it for privacy purposes, but I don't think it is enough to push the price.

No. It's not like that. They are not interested to a privacy coin like Monero. It's a serious threat to them and that's why they trying to remove it from exchanges to exchanges. The difference of Bitcoin and Monero, Monero is more with privacy and we are aware of that.
The interest isn't really there but as I have mentioned and explained, he's just pointing to the exposure and publicity. Whether the government is trying to track it down from exchanges, the publicity is bad yet it's still as it is.