[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.

[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.

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.

And it's not just those mid level influencers...  It's also those supposedly 'respected' devs like this guy Mert, a Solana dev.  Lmao.  He's either really clueless or a grifter.

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.

All in all..  The thing you can buy that's closest to BTC that's not BTC is XMR.  I think people who went into crypto after 2020 are catching up to it now.

Fluffy prolly needs to go around conferences and present his slideshow again.

[cAPSLOCK]

...

 it's more centralized than Bitcoin, ...

Have no clue why you think this.

Not the coin, or the consensus.  More the development. Thus the Devs can continue to upgrade the code much more aggressively that can be gotton away with BTC.  We've seen giant new schemes added to enhance the privacy more than one time over the years.

The hard forks are a good example of something that can happen in Monero that would be very difficult to pull off in Bitcoin and I believe the development team is able to make decisions like that with community support of course, in a way that is just necessarily slightly more centralized.  I don't  see it as a disadvantage, and I believe if Monero continues to be relevant and successful (my bet still is that it will.) eventually it will have to ossify a little more similar to what I hope we will also see with Bitcoin.

My opinion and thoughts on this are very likely flawed. It may not be true. It's kind of my interpretation and I am but a knucklehead.

PS.  Like many things, I feel monero has struck the right balance on this.   In contrast with a much much more centralized coin development wise, I hear that some members of the electric company or whatever it's called have revolted and splintered off or something, which of course is bound to happen when there is something central.

[d5000]

More the development. Thus the Devs can continue to upgrade the code much more aggressively that can be gotton away with BTC. 

I think your reasoning isn't flawed. That kind of "centralization" also has to do with the size of the community. It takes a certain size for different implementations of the protocol to emerge, and even more for discrepancies to happen which neither are solved by a compromise nor with a complete software fork.

In the altcoin world I've observed that if there are differences between devs about consensus-relevant features, often the minority group simply starts their own coin instead of pushing for a blockchain fork. But in the Monero community there seems to be still a force driving the devs to achieve compromise, even regarding difficult decisions like the "tail emission".

If XMR becomes more popular, it's possible though that hard forks could become more difficult, as the developer group will expand, and thus different opinions may emerge about almost everything. This could indeed lead to an increased ossification, because a radical change would be more likely opposed by someone, and then the compromise would be a less radical (and often not-hardforking) change.

One thing that could be important too is that Monero to my knowledge can't handle second layers due to the limited scripting language. This means that all improvements will have to be implemented on the main chain. On Bitcoin instead, the code can ossify easier because new features can also be added on sidechains (even if their use is still limited and most are centralized). On the other hand, Monero seems already quite "mature" at this stage. As far as no vulnerabilities are discovered, this means that there will be also less hardforks needed for Monero to fulfill its purpose as a privacy-centered "digital cash".

[cAPSLOCK]

Source: Nostr

This actually breaks an entire narrative for one shitcoin.