[XMR] Monero Speculation

[Febo]

Since everyone is so happy about the fact that yesterday we made new ATH at daily transactions. Old was 15784 from 8th May.  August transaction count was 20k transactions short from May record.   So I wanted to imagine what future is like. If number of transactions went x2.5 in last year and lets say it happens that every year. That way we would catch today's number of Bitcoins transactions at start of 2024. Questions which I had been asking to myself were. How many upgrades will Monero have until then to reduce transactions sizes? How much cheaper will be SSDs? How much storage will iphones have by then? Which country will not have G5 widely built by then? What speeds will G6 have on tests?

[megalotz]

I bought 2000 XMR at $130, I'll be holding it for the long term. I will re-evaluate 3 years from now and report back to this thread. I'll keep buying the dips and hold at $70, $40, $10, $1, $0.5 if it ever reaches those levels. Just bought another 300 XMR at $102.

I do believe XMR will reach a minimum of $2,300/XMR and possibly even $13,000/XMR if not more 36 months from now.
Unlike other coins, it is the only coin that has practical use and is used widely today, it is #2 in my eyes after BTC (#1).

All other coins are pure speculation at this point in time.

Three years have passed since I made this post. I had sold 50 BTC and bought 2000 XMR at that time and said I will report back in 3 years.
The current price of XMR is $88.85. I took a huge loss, I haven't sold yet but it is a floating loss. If I had kept my BTC and not bought XMR at that time with it, I wouldn't have been -$386,084 today.

I still have high hopes for XMR, will report back to this thread 1 year from today.

[johnalan]

I bought 2000 XMR at $130, I'll be holding it for the long term. I will re-evaluate 3 years from now and report back to this thread. I'll keep buying the dips and hold at $70, $40, $10, $1, $0.5 if it ever reaches those levels. Just bought another 300 XMR at $102.

I do believe XMR will reach a minimum of $2,300/XMR and possibly even $13,000/XMR if not more 36 months from now.
Unlike other coins, it is the only coin that has practical use and is used widely today, it is #2 in my eyes after BTC (#1).

All other coins are pure speculation at this point in time.

Three years have passed since I made this post. I had sold 50 BTC and bought 2000 XMR at that time and said I will report back in 3 years.
The current price of XMR is $88.85. I took a huge loss, I haven't sold yet but it is a floating loss. If I had kept my BTC and not bought XMR at that time with it, I wouldn't have been -$386,084 today.

I still have high hopes for XMR, will report back to this thread 1 year from today.

It's annoying, sorry about the bad trade -

I think we will see Monero ATH in USD terms at some point, BTC maybe not as likely, but getting back to 0.02 or so seems possible.

[elrippos friend]

I bought 2000 XMR at $130, I'll be holding it for the long term. I will re-evaluate 3 years from now and report back to this thread. I'll keep buying the dips and hold at $70, $40, $10, $1, $0.5 if it ever reaches those levels. Just bought another 300 XMR at $102.

I do believe XMR will reach a minimum of $2,300/XMR and possibly even $13,000/XMR if not more 36 months from now.
Unlike other coins, it is the only coin that has practical use and is used widely today, it is #2 in my eyes after BTC (#1).

All other coins are pure speculation at this point in time.

Three years have passed since I made this post. I had sold 50 BTC and bought 2000 XMR at that time and said I will report back in 3 years.
The current price of XMR is $88.85. I took a huge loss, I haven't sold yet but it is a floating loss. If I had kept my BTC and not bought XMR at that time with it, I wouldn't have been -$386,084 today.

I still have high hopes for XMR, will report back to this thread 1 year from today.

It's annoying, sorry about the bad trade -

I think we will see Monero ATH in USD terms at some point, BTC maybe not as likely, but getting back to 0.02 or so seems possible.

@Q4 2020 late of November is the uprise, so don't worry, just hold another year and you will be VERY happy with your monerujo 

[bitebits]

Monero is a great self sustainable project with a focus on something that truly matters and Bitcoin currently can’t provide: financial privacy. Todays world badly needs it, but most people don’t care until they have to. So I don’t get the obsession measuring the value of a monero in bitcoins. Stick with Bitcoin if you want bitcoins.

[Febo]

From  r/monero subreddit:

https://i.redd.it/uiw5lca590l51.png

Today the Monero testnet forked to v13, adding support for CLSAG transactions. A 1/2 (input/output) transaction will now be ~1.4kB instead of ~1.7kB, a 2/2 transaction will now be ~1.9kB instead of ~2.5kB. Verification speed is also improved.

The above image shows the transaction in JSON format.

Anyone can participate in the testnet by compiling the master branch, see https://github.com/monero-project/monero for instructions.


Faster, smaller, cheaper!

[Febo]

When talking about Monero monetary inflation, a lot is used the word that Monero monetary inflation will go to zero over time. Yes, it will eventually go close to zero, but not anytime soon. I never before went to check this %, so here it is.

today 17.69m = 1.69%

2021 18.06m = 0.92%

2022 18.22m = 0.87%

2025 18.5m = 0.85%

2030 19.3m = 0.82%

2040 20.9m = 0.75%

2050 22.5m = 0.7%

2070 25.7m = 0.61%

2100 38.3m = 0.41%

So the result is that Monero monetary inflation will go toward 0.4% at the end of this century. Probably the last date that will matter to us that are right now here.

[dEBRUYNE]

A note on scheduled protocol upgrades

https://web.getmonero.org/2020/09/01/note-scheduled-upgrades.html

[Febo]

https://repo.getmonero.org/monero-project/ccs-proposals/-/merge_requests/168

One small step for Monero, one giant leap for Bitcoin.

[elrippos friend]

https://repo.getmonero.org/monero-project/ccs-proposals/-/merge_requests/168

One small step for Monero, one giant leap for Bitcoin.

Nice 

[leogamdrid]

Monero still on an uptrend as the price recovers back above 8200 sat. It is now testing major resistance area since July 2019, in the last August 21, it had a failed breakout and many Bulls got stopped out. We need to be more cautious this time as the market is still not stable XMR needs to hold above 8300 for a couple of days to avoid fakeouts,if we can see acceptance above the resistance area the chances we will see upside continuation will increase, maybe i think targets are up to 10k sat or higher.

[Globb0]

https://repo.getmonero.org/monero-project/ccs-proposals/-/merge_requests/168

One small step for Monero, one giant leap for Bitcoin.

What does it mean Febo

Would there be no more exchange fees? I mean or exchanges? Im intrigued to see how the pricing and valuing works.

[Febo]

https://repo.getmonero.org/monero-project/ccs-proposals/-/merge_requests/168

One small step for Monero, one giant leap for Bitcoin.

What does it mean Febo

Would there be no more exchange fees? I mean or exchanges? Im intrigued to see how the pricing and valuing works.

I wish I would know and imagine all. Yes there will be only transaction fee. So high for BTC and low for Monero. I cant really imagine how this will look in practice. I am sure we will soon read about some ideas. Two people that will want to trade will still need some place to met and decide price. Atomic swaps should sort of make real decentralised exchanges possible and very easy to build and run.

But my point was that Bitcoin will gain a lot. Monero will at least for now gain a lot also, since some have troubles to acquire it with fiat.  

[cAPSLOCK]

https://repo.getmonero.org/monero-project/ccs-proposals/-/merge_requests/168

One small step for Monero, one giant leap for Bitcoin.

This is THE killer app and few really understand the depth of game-chageyness in my opinion.

I don't know how long this will take to really emerge.  But in my opinion this will allow Monero to be Bitcoin's "privacy layer".

Eventually we will see some fairly staunch maximalists starting to wake up to the advantages of letting Monero do this work for Bitcoin thereby allowing Bitcoin to retain it's pristine auditability properties.  Keep an eye on Matt O'Dell.  He is staunchly anti-shitcoin, but he is also bending over backwards to push BTC privacy.  He may be rational enough to realize in the end that Monero really is an exception to the Maximialist's rule.  

Monero is poising itself PERFECTLY for this reality.  The tail emission, and the king of CPU mining.  This means Monero is more secure than the average shitcoin.

I was among the folks who was disappointed that we chose to add the tail emission.  In fact I was FIRMLY against it.  And still recognize it came at a cost.  The biggest of which was the change to the social contract, and putting Monero among the cryptocurrencies that have shown that unlike Bitcoin, the more centralized leadership can change the financial contract thereby putting a dent in the store of value property of Monero.

That said, not only will the tail emission do what it is good for, keeping the mining of Monero rolling, but in the same way that Monero can do privacy on behalf of Bitcoin, Bitcoin can do SOV for Monero.  This will leave monero to concentrate on it's killer app feature.  Allowing seamless flow between these two currencies will be pretty magical.  You can sacrifice auditability and SOV stuff for privacy and then come back as you please.

I have always seen a symbiotic future for these two projects, and am very pleased with the way this is coming together.  

Monero is so far ahead of anything else in the privacy game... it will remain useful and valuable for quite a while.

When these realities start to become more obvious to the masses we will start to see fairly significant price moves, IMHO.

[Globb0]

As long as there is liquidity it can work.

If everyone is translating in 1 direction I want to be on the other side of the trade.

If the pool is big enough for both sides, then a variable spot price could make sense.

There is no p2p transaction then. Just a pool to pool transaction.


Exciting to see the details emerging.

[Hueristic]

This is THE killer app and few really understand the depth of game-chageyness in my opinion.

I don't know how long this will take to really emerge.  But in my opinion this will allow Monero to be Bitcoin's "privacy layer".

Eventually we will see some fairly staunch maximalists starting to wake up to the advantages of letting Monero do this work for Bitcoin thereby allowing Bitcoin to retain it's pristine auditability properties.  Keep an eye on Matt O'Dell.  He is staunchly anti-shitcoin, but he is also bending over backwards to push BTC privacy.  He may be rational enough to realize in the end that Monero really is an exception to the Maximialist's rule.  

Monero is poising itself PERFECTLY for this reality.  The tail emission, and the king of CPU mining.  This means Monero is more secure than the average shitcoin.

I was among the folks who was disappointed that we chose to add the tail emission.  In fact I was FIRMLY against it.  And still recognize it came at a cost.  The biggest of which was the change to the social contract, and putting Monero among the cryptocurrencies that have shown that unlike Bitcoin, the more centralized leadership can change the financial contract thereby putting a dent in the store of value property of Monero.

That said, not only will the tail emission do what it is good for, keeping the mining of Monero rolling, but in the same way that Monero can do privacy on behalf of Bitcoin, Bitcoin can do SOV for Monero.  This will leave monero to concentrate on it's killer app feature.  Allowing seamless flow between these two currencies will be pretty magical.  You can sacrifice auditability and SOV stuff for privacy and then come back as you please.

I have always seen a symbiotic future for these two projects, and am very pleased with the way this is coming together.  

Monero is so far ahead of anything else in the privacy game... it will remain useful and valuable for quite a while.

When these realities start to become more obvious to the masses we will start to see fairly significant price moves, IMHO.

Quite a few of these Maximialist's have their heads so far up their asses they will just bury their heads deeper and refuse to admit they were wrong. Its a shame really, cult mentality. Funny thing to see in a technological project but there you go.

[Millionero]

https://repo.getmonero.org/monero-project/ccs-proposals/-/merge_requests/168

One small step for Monero, one giant leap for Bitcoin.

What does it mean Febo

Would there be no more exchange fees? I mean or exchanges? Im intrigued to see how the pricing and valuing works.

I wish I would know and imagine all. Yes there will be only transaction fee. So high for BTC and low for Monero. I cant really imagine how this will look in practice. I am sure we will soon read about some ideas. Two people that will want to trade will still need some place to met and decide price. Atomic swaps should sort of make real decentralised exchanges possible and very easy to build and run.

But my point was that Bitcoin will gain a lot. Monero will at least for now gain a lot also, since some have troubles to acquire it with fiat.  

If two users run their own nodes and swap-daemons, there would be no fee of any kind.  Just a person to person trade at the agreed-upon price.
(If I got that wrong, someone correct me.)
In practice, if widespread adoption takes place, ordinary users won't have the geek-fu to run their own nodes.  So the monero-bitcoin atomic swap ecosystem may take on characteristics similar to the lightning network.

This from one of the comments in the link:
Our architecture permits the support of "lighter" clients, that delegate tasks of enforcing events on chain, they synchronize the blockchain state to the protocol state and must stay always-online (during the swap), that's what we call chain-syncers. They will be run locally by advanced users, but others would have a better UX possibly by delegating actions to semi-trusted third parties, that publishes txs conditional on specific events. This is somewhat similar to watchtower in lightning.

Of course the monero swap infrastructure isn't going to be plagued with the ills of a Rube Goldberg construction such as lightning, like channels and liquidity headaches.
Monero atomic swap: a simple back-and-forth, the way it oughta be.

[strawbs]

https://cointelegraph.com/news/the-irs-offers-a-625-000-bounty-to-anyone-who-can-break-monero-and-lightning

It's great to hear that the IRS need to offer a bounty to try to break monero. Confirms they can't do it  

May have something to do with the little rally we're seeing today too?

[Febo]

https://cointelegraph.com/news/the-irs-offers-a-625-000-bounty-to-anyone-who-can-break-monero-and-lightning

It's great to hear that the IRS need to offer a bounty to try to break monero. Confirms they can't do it  
May have something to do with the little rally we're seeing today too?

Those are just free audits of Monero code. It is only fair that taxes are sometimes well spent. We are still waiting for Monero to go over 0.01. It is taking unusually long.

[explorer]

https://cointelegraph.com/news/the-irs-offers-a-625-000-bounty-to-anyone-who-can-break-monero-and-lightning

It's great to hear that the IRS need to offer a bounty to try to break monero. Confirms they can't do it  
May have something to do with the little rally we're seeing today too?

Those are just free audits of Monero code. It is only fair that taxes are sometimes well spent. We are still waiting for Monero to go over 0.01. It is taking unusually long.

approaching 4 days above 0.008, getting stronger...