[XMR] Monero Speculation

[Febo]

At current price daily mined 1873 XMR are worth $182k. Also today over:

$20m BTC was mined

$1.7m LTC was mined

$730k ZCash was mined

Can you imagine that 20% of that is almost more then what all Monero miners get. Electronic Cash Company can dump daily almost as much as all Monero miners.

Dont you guys see some anomaly here?

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[Febo]

It is amazing how many times I listened to this interview of Milton Friedman and believing he was predicting Bitcoin.  Only today I was pointed to the fact that he was talking of Monero back then.

https://www.youtube.com/watch?v=6MnQJFEVY7s

[Chicken_76]

I don't trust a thing I see on that exchange anymore, I think its all smoke and mirrors using stolen coins to destroy Moneros value. It's completely controlled by institutional bankers with Zero accountability.

NO-one Should have coins on that exchange.

Which exchanges would you recommend?

[nanaimogold]

Self-moderated thread for discussion of Monero trading and price speculation.

Off topic posts will be removed. Off topic includes any extensive discussion of other coins, promoting other coins, or posting of promotional materials from other coins.

Non-substantive comments such as Monero sucks, Monero is a scam, Monero is great, Monero to the moon, etc. are considered off topic. Every post and reply should add to the discussion. The preceding sentence forbids repetitive exchanges on the same topic without some topical context.

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When quoting posts, please remove any large charts or other images unless the quoted post is at least one page old. Please shrink (or remove) large images in replies in all cases.

When I am speaking as the moderator, and only then, I will write in red. Other messages using red text are not permitted.

People speculating on Monero may also be interested in the MoneroMarkets subreddit (unaffiliated)

Monero is one of the old coins that has a strong psychological stronghold on the minds of cryptocurrency enthusiasts. It offers the least technology as at today's rankings but it has more trade volume and acceptance than the rest and even predicted to go as high as $3000 by 2021

[Victorycoin]

I don't trust a thing I see on that exchange anymore, I think its all smoke and mirrors using stolen coins to destroy Moneros value. It's completely controlled by institutional bankers with Zero accountability.

NO-one Should have coins on that exchange.

Which exchanges would you recommend?

A lot of exchanges which we can see from coinmarketcap but I think binance is the best as its fee is low and it provides high security and give attention to its users fund, they take fast step to give solution.

[tokeweed]

This is the pain and FUD we've been waiting for. I predict we will hit a new USD ATH within 90 days. That means end of September.

It won't matter for most of us if it's still down vs BTC, cos most of us bought XMR with BTC.  I'm actually down a lot tbh.  It would've been way better for me if I just held BTC.

So you're saying if Monero hit $10k USD it wouldn't matter because you would've made more by staying in BTC? By that logic you will never be satisfied with your investments, because there will always be something you could've done to gain more profit.

Look, I'm not hating on XMR or anything, I think it's the most awesome alt out there.  But buying, say 5 BTC worth of XMR, and looking at it now and it's like now worth 2 BTC really hurts.

[hotforblockchain]

In the last days I am starting to consider that I should invest in monero.
The main reasons are :
1. Libra centralized shitcoin
2. FATF hard on for regulation in crypto space.

This very likely could force people to use Monero.

[kurious]

Well it does look like TheKoziTwo was well placed for a bargain.  He obviously has two of something steel... Respect is due and totally deserved of course.

I was wondering how far it could drop (and yes it did hurt to just watch it slide) but the bottom looks in, I didn't quite catch it, but I did pick some up  in the high .007x range after it bounced convincingly.

Now it's looking pretty healthy with a decent rise and volume strong.  

Of course the great thing with Monero is it may be late to the party sometimes, but when it does turn up, it's a star.  In the last Bitcoin bull run it was rising against BTC as it rose and it acting as a trebuchet, as some may recall.

I have hodled, Monero has been so good to me but it's been a long wait.

Now I am thinking:  

Hit me baby one more time...

[Kryptowerk]

It is amazing how many times I listened to this interview of Milton Friedman and believing he was predicting Bitcoin.  Only today I was pointed to the fact that he was talking of Monero back then.

https://www.youtube.com/watch?v=6MnQJFEVY7s

Haha, it's true. He is talking about a anonymous cryptocurrency. Definitly not Bitcoin atm.

That being said: Nice tiny bounce from that terrible drop recently. Would be very suprised if we see sub 0.0075 levels again in the near future.

[Hueristic]

At current price daily mined 1873 XMR are worth $182k. Also today over:

$20m BTC was mined

$1.7m LTC was mined

$730k ZCash was mined

Can you imagine that 20% of that is almost more then what all Monero miners get. Electronic Cash Company can dump daily almost as much as all Monero miners.

Dont you guys see some anomaly here?

QFT

I just looked on monero.how and saw that minimum fee is $0.0027.  It is funny how things change if you work hard to change them.  Monero become easy to set up and use. Monero fees become microscopic. Monero blockchain become small ( under 25 gb) and can be synced in few hours. Monero emission inflation is going under Bitcoins and soon after under Golds mining inflation.   I wonder how long it will take for most people in crypto and this forum to realize this.   

I just moved my coins off of binance and it cost me nothing, literally penny's.
What a fucking great deal and no-one even notices this.

I don't trust a thing I see on that exchange anymore, I think its all smoke and mirrors using stolen coins to destroy Moneros value. It's completely controlled by institutional bankers with Zero accountability.

NO-one Should have coins on that exchange.

Which exchanges would you recommend?

Good question, i would have said Binance but not anymore (if your in the us). If your not in the US then binance as far as centralized exchanges go.

We need a Decentralized exchange thats safe with low fees and i don't know of one.

[Hueristic]

Monero is one of the old coins that has a strong psychological stronghold on the minds of cryptocurrency enthusiasts. It offers the least technology as at today's rankings but it has more trade volume and acceptance than the rest and even predicted to go as high as $3000 by 2021

You have no fucking clue about what you are talking about.

This is the pain and FUD we've been waiting for. I predict we will hit a new USD ATH within 90 days. That means end of September.

It won't matter for most of us if it's still down vs BTC, cos most of us bought XMR with BTC.  I'm actually down a lot tbh.  It would've been way better for me if I just held BTC.

So you're saying if Monero hit $10k USD it wouldn't matter because you would've made more by staying in BTC? By that logic you will never be satisfied with your investments, because there will always be something you could've done to gain more profit.

Look, I'm not hating on XMR or anything, I think it's the most awesome alt out there.  But buying, say 5 BTC worth of XMR, and looking at it now and it's like now worth 2 BTC really hurts.

It does but its not designed to be a P&D coin.

In the last days I am starting to consider that I should invest in monero.
The main reasons are :
1. Libra centralized shitcoin
2. FATF hard on for regulation in crypto space.

This very likely could force people to use Monero.

Don't invest in it.

Use it.

[dEBRUYNE]

Don't invest in it.

Use it.

You can both invest in it and use it. The one does not necessarily exclude the other. Besides, private wealth storage is a perfectly valid use case.

[hotforblockchain]

Don't invest in it.

Use it.

You can both invest in it and use it. The one does not necessarily exclude the other. Besides, private wealth storage is a perfectly valid use case.

Yes!
I currently dont have a way to use Monero.
Most of  you will hate me for saying this but in 5 years time, I dont think that there will be much potential for good privacy coins investment wise.
And the reason is that regulation is moving in and they will not like exchanges listing coins which are non traceable.

[Febo]

I currently dont have a way to use Monero.

And the reason is that regulation is moving in and they will not like exchanges listing coins which are non traceable.

Monero have good use case for people and for governments. Regulations will regulate exchanges not the coins since they are permissionless and decentralized. Decentralized exchanges will be harder regulated. 

[phishead]

I currently dont have a way to use Monero.

And the reason is that regulation is moving in and they will not like exchanges listing coins which are non traceable.

Monero have good use case for people and for governments. Regulations will regulate exchanges not the coins since they are permissionless and decentralized. Decentralized exchanges will be harder regulated.  

Just like with cash, though the only major difference is that regulations will regulate exchanges (banks) not the cash since they are permissionless and centralized.

Will be interesting to see what happens to decentralized cryptocurrencies vs. centralized cryptocurrencies in the near future.  I could see a situation coming up where governments will try to force companies like Coinbase and the like to exchange only centralized "legitimate" cryptocurrencies.  

I mean we can see how nations can ban together to scream what is "legitimate" louder than other nations, whether right or wrong.  Example A would be Venezuela.

Edit: when I'm talking about centralized cryptocurrencies, I'm thinking of projects that are trying to jump through every single legalization loop hole nations through at it; i.e. Libra, Cardano, etc.

[dEBRUYNE]

Don't invest in it.

Use it.

You can both invest in it and use it. The one does not necessarily exclude the other. Besides, private wealth storage is a perfectly valid use case.

Yes!
I currently dont have a way to use Monero.
Most of  you will hate me for saying this but in 5 years time, I dont think that there will be much potential for good privacy coins investment wise.
And the reason is that regulation is moving in and they will not like exchanges listing coins which are non traceable.

I am going to post this ad nauseum until it sticks:

People often like to purport that Monero will inevitably get banned. However, the new FinCEN guidance is basically inconsistent with that notion. From the CoinCenter article:

Section 4.5.3 states that exchanges are not per se banned from using privacy-preserving cryptocurrencies but will need to comply with the same BSA regulations they comply with for typical cryptocurrencies. We believe that this is possible. Exchanges need to know their customers but they do not have a black letter law requirement to know the customers of their customers. In other words, a bank needs to know who you are but they are not obligated to know the name and address of people that you pay using cash you withdraw from your account.

https://coincenter.org/entry/fincen-s-new-cryptocurrency-guidance-matches-coin-center-recommendations

Arguably, this is long-term bullish for Monero.

Additionally, Tari Labs is creating an open source framework for listing Monero as well as educating regulators.

[Dpat]

Monero is not a speculative coin because this coin also in the front runner like the ETH, LTC etc. You can invest in XMR now which is in very decent level. This coin must go above $500 in the next move if the bull will come for the altcoins.

[dEBRUYNE]

The third audit (by X41) of RandomX has successfully been completed!

https://www.reddit.com/r/Monero/comments/ca71ok/randomx_audit_statuas/

[gembitz]

I currently dont have a way to use Monero.

And the reason is that regulation is moving in and they will not like exchanges listing coins which are non traceable.

Monero have good use case for people and for governments. Regulations will regulate exchanges not the coins since they are permissionless and decentralized. Decentralized exchanges will be harder regulated.  

Just like with cash, though the only major difference is that regulations will regulate exchanges (banks) not the cash since they are permissionless and centralized.

Will be interesting to see what happens to decentralized cryptocurrencies vs. centralized cryptocurrencies in the near future.  I could see a situation coming up where governments will try to force companies like Coinbase and the like to exchange only centralized "legitimate" cryptocurrencies.  

I mean we can see how nations can ban together to scream what is "legitimate" louder than other nations, whether right or wrong.  Example A would be Venezuela.

Edit: when I'm talking about centralized cryptocurrencies, I'm thinking of projects that are trying to jump through every single legalization loop hole nations through at it; i.e. Libra, Cardano, etc.

what makes you think poloniex doesn't run the show behind the scenes of bitmonero ?    ===> n00bzZz!!!

[7jaka7]

I don't trust a thing I see on that exchange anymore, I think its all smoke and mirrors using stolen coins to destroy Moneros value. It's completely controlled by institutional bankers with Zero accountability.

NO-one Should have coins on that exchange.

Which exchanges would you recommend?

Good question, i would have said Binance but not anymore (if your in the us). If your not in the US then binance as far as centralized exchanges go.

We need a Decentralized exchange thats safe with low fees and i don't know of one.

From my personal experience:
for BTC-XMR pair
- I would still advise Poloniex, if you just make a trade and immediately send funds to your wallet you reduce the risk substantially (this is true for all exchanges), if manipulation happens it affects the price on all exchanges anyway
- Binance (if not prohibited in your country)
- you can also try tokens.net, it's an exchange founded by the same guy as Bitstamp
BTC-FIAT pair
- Kraken

About decentralized exchange, you can try Bisq (I have just dowloaded app long time ago, didn't make any trades there though), fees doesn't seem too high 0,1% - 0,3%, and I think there is also a FIAT pair available there. The problem might be UX and liquidity (few months ago weekly event Monero Monday increased it, since people were encouraged to trade XMR there, don't know if this is still going on). https://bisq.network/

Don't invest in it.

Use it.

You can both invest in it and use it. The one does not necessarily exclude the other. Besides, private wealth storage is a perfectly valid use case.

I was thinking just the same. Why can't store of value be one of its use cases? Especially Monero, which is an asset with very unique and interesting properties. https://www.monero.how/monero-infographic

I just looked on monero.how and saw that minimum fee is $0.0027.  It is funny how things change if you work hard to change them.  Monero become easy to set up and use. Monero fees become microscopic. Monero blockchain become small ( under 25 gb) and can be synced in few hours. Monero emission inflation is going under Bitcoins and soon after under Golds mining inflation.   I wonder how long it will take for most people in crypto and this forum to realize this.   

Good for those who already realized that. https://www.investopedia.com/terms/v/valueinvesting.asp