[XMR] Monero Speculation

[tokeweed]

Been seeing these guys on Twitter going all out making 'cypherpunk' tweets but then at the end of those tweets they shill ZEC.    These mofos with more than 10k followers might really be crypto n00bs or they just want their pump and dump, move on and keep their stables.  Lol.

Anyway, nice price action for XMR considering that most of the market has been down and flat for the last three months or so.  What exchanges still accept Monero besides Kraken?

[cAPSLOCK]

Well, on a day that is otherwise mixed for all of the field of shit coins out there.... as well as a day that seems to be a little bit of upside for the glorious bitcoin...

Monero seems to just be monerowing right along. And today it seems to have somehow regained spot 16 in the dubious coin market cap list.

And to that point, I think this is interesting because Monero is not playing any of the tricks to do well on that metric, like having trillions of coins minted or other shenanigans that make your project look more valuable than it is.

But it continues to be used and has (thanks to its black sheep status) become much harder to manipulate on the part of the exchanges.

I would need to do some math to know if I'm reading it wrong, but it also seems to me that it continues to break correlation with pretty much everything else in the crypto world.

I personally think it still has significant real potential, unlike almost every other shit coin.

[nutildah]

Been seeing these guys on Twitter going all out making 'cypherpunk' tweets but then at the end of those tweets they shill ZEC.    These mofos with more than 10k followers might really be crypto n00bs or they just want their pump and dump, move on and keep their stables.  Lol.

I know, what's up with that. Definitely a coordinated effort to fund these guys: mid-level Twitter influencers who made a brand on Bitcoin but are now suddenly in the unjustifiable depths of shitcoinery, and they all happen to like the same shitcoin: ZEC.

Some of the same self-professed cypherpunks were even criticizing XMR for not having VC funding. Needless to say they can safely be ignored at this point.

I personally think it still has significant real potential, unlike almost every other shit coin.

Its already done far better than most people ever expected in that regard, myself included.

[EuSouBitcoin]

XMR/USD just broke through the $500 level on Kraken! Currently $503 bid on Kraken! To the mooon!

[mv1986]

That is quite impressive and I actually was an XMR fan right from the get go.

Out of curiosity, did anyone here mine XMR via putty and Amazon instances? That was a great time right after it was launched. You could burn money like hell renting out these instances (it's addictive ), but frankly, those who did and kept their XMR got a good deal. Though it was a good deal back then already as it wasn't trivial to figure out how to set up high volume mining operations. Good old times when mining with GPUs or rented instances was still super fun!  

I am absolutely convinced that XMR will have its place in the digital economy and still doesn't have the market cap to meet all the demand that's out there. I think it is relatively irrelevant whether authorities crack down on it or not.

What's your take here guys?

[d5000]

I think it is relatively irrelevant whether authorities crack down on it or not.

I agree, as long as the "crackdown" isn't so aggressive that even hodling is outlawed.

If only exchanges and service providers are affected by regulations (like in the EU AMLR) then Monero has a big advantage and that's its good availability of decentralized / P2P trading and swapping options.

And outlawing hodling in a democracy would need a law which could touch constitutional rights. It wouldn't be impossible but here applies what I also wrote several times about Bitcoin: the more people involved as XMR users, the less likelihood for a government to outlaw it, because that could decrease their voter potential. XMR is of course not anywhere near Bitcoin, and a major presidential candidate in a major world economy trying to capture votes with a pro-XMR/privacycoin policy looks utopic today, but every adoption step counts

It could thus be a good idea for XMR users and hodlers to tip your friends with a little XMR gift. And spread the word about XMR's potential to undermine authoritarian tendencies and help opposition movements in dictatorships.

BTW, the ATH of $542 is less than 10% away (until now, today's peak was about $513, currently $503-504). I'm quite convinced it will fall eventually. That will make XMR one of the very few altcoins which reached ATHs after 2021. And perhaps take it closer to the top 10, rising even more awareness.

[EuSouBitcoin]

XMR/USD hits an all-time high of $598! The old all-time high was $521 on January 8, 2018. Congratulations to all you diamond hands who held for 8 years!

[cAPSLOCK]

Hmm.

Somethin'

[Alpen]

That is quite impressive and I actually was an XMR fan right from the get go.

Out of curiosity, did anyone here mine XMR via putty and Amazon instances? That was a great time right after it was launched. You could burn money like hell renting out these instances (it's addictive ), but frankly, those who did and kept their XMR got a good deal. Though it was a good deal back then already as it wasn't trivial to figure out how to set up high volume mining operations. Good old times when mining with GPUs or rented instances was still super fun!  

I am absolutely convinced that XMR will have its place in the digital economy and still doesn't have the market cap to meet all the demand that's out there. I think it is relatively irrelevant whether authorities crack down on it or not.

What's your take here guys?

I believe the PoW (Proof of Work) consensus is a major advantage for Monero, especially considering the role it played in Bitcoin’s evolution. Mining is what attracts institutional capital on one hand, and on the other, the hash rate serves as a transparent and clear indicator of network security for everyone.

In contrast, PoS and especially DPoS algorithms are more centralized. Validation is concentrated in the hands of a few node operators using staked deposits—or worse, exchanges that might stake client funds without their knowledge.

Regarding potential bans: I’ve been buying XMR for a year now via my KYC account on Cryptomus. Monero is legally permitted in several offshore jurisdictions, Canada, and elsewhere. While Europe will likely shut its doors to XMR, the EU is rapidly losing its global influence. In this day and age, citizens will have no trouble finding workarounds to acquire Monero.

[phishead]

*checks chart*

*insert pikachu jaw drop meme*

[cAPSLOCK]

I think my favorite part about it all is monero just does this. It's always been this way. This is obviously one of its most dramatic versions of it. It's just going up. There's no hype campaign. Those idiotic twins aren't marketing it. There's no big company behind it.

People just use it in spite of the fact that it's gotten harder to get. In fact, that might be increasing the appeal in some strange way.  It still offers a level of privacy that is the one that I would use of my life dependent on it. I do still think that bitcoins privacy will end up equaling it on its layers, but you'll never be able to replace what Monero does natively.

And some of its other features are probably undervalued. The mining algorithm is quite unique. The perpetual emission...  The fact that the team doesn't quit working on bringing more aspects to the privacy

I mean there's risk, it's more centralized than Bitcoin, and it's more tweaked, which I personally think is dangerous, but it's kind of fun to see Monero do it, so far the team has done well.

[Hueristic]

...

 it's more centralized than Bitcoin, ...

Have no clue why you think this.