[XMR] Monero Speculation

[Globb0]

another dimension another dimension

[kurious]

Whatever it was oscillations now broken. Here we go?    

Yes indeed, decision was made.  So Monero is post-Golden Cross and so far is rising against BTC, which means in dollar terms we just popped over $85.

We are not just following BTC up just now, but a better performer.   I can't say I am at all unhappy about that!

Now to see if it can be kept up, especially if BTC drops back.   So far so good, though.

[Hueristic]

Well its about goddamn time.

[Bitcoinaire]

That was a nice pop!

I was watching a video with davincj15 and he states that monero will likely never break its old xmr/btc ATH ratio set back in January 2018. He does go on to say that it will do very well dollar wise though, breaking the old ATH denominated in dollars. What are your thoughts on this?

Starts at 34:15
https://www.youtube.com/watch?v=nVB_IbwXI1s

[Aby Normal]

This year is not 2018, it's 2020 - year of rise of the Ryzens, Monero's gaining a monstrous size (+decentralized) hashrate ... and the necessity for a safe fungible crypto as the BTC adoption grows to its new highs, it looks to me that it has a chance not only to break its old ATH but also the ETH ATH TBH

[kurious]

That was a nice pop!

I was watching a video with davincj15 and he states that monero will likely never break its old xmr/btc ATH ratio set back in January 2018. He does go on to say that it will do very well dollar wise though, breaking the old ATH denominated in dollars. What are your thoughts on this?

Starts at 34:15
https://www.youtube.com/watch?v=nVB_IbwXI1s

Increasing against BTC up to the 0.014-0.018 range, would be no big surprise. 

OK, that isn't the ATH in BTC terms, but that is not a worry if BTC is mooning up over 20K in the next big run.  In this case, an ATH in dollar terms is not at all unrealistic. If XMR doubles and BTC goes over double from now - which is looking likely - we will be in range easily enough.

Reasoning: 
Any alt that grows against BTC in a bull run, is by definition worth holding, as you're making more money than being in BTC.  Monero's clear use case, long history and liquidity means it's a pretty easy choice, plenty of OGs / opinion-formers have respect, and a soft spot for it, due to it being a real coin with an old-school 'pure' launch and good devs.

The only worry for the institutional investors is legislation or pressure that affects exchanges, but that's why half way to the BTC ATH, is realistic, a new ATH against BTC not quite so.  However, as many shitcoins wane because their use cases are risible and (for the coming big consolidated exchanges) it's not worth listing them due to cost and increased attack surface risk, the cream will separate and Monero should stay the distance.

TLDR:  New USD ATH?  Sure, why not?

[tokeweed]

^  I think it's more likely XMR would find its new ATH this year (in USD, along with other alts finding their own) than BTC finding its own.  I think...

[kurious]

^  I think it's more likely XMR would find its new ATH this year (in USD, along with other alts finding their own) than BTC finding its own.  I think...

I would love it, but I reckon XMR will need BTC to stay in bull mode to help it along.  That said, XMR does have a tendency to sling shot no, trebuchet off the back of a good BTC run.

If you're right, I will be happy to high five you.

[Globb0]

Leveraged by good strong use cases.

[phishead]

Increasing against BTC up to the 0.014-0.018 range, would be no big surprise. 

OK, that isn't the ATH in BTC terms, but that is not a worry if BTC is mooning up over 20K in the next big run.  In this case, an ATH in dollar terms is not at all unrealistic. If XMR doubles and BTC goes over double from now - which is looking likely - we will be in range easily enough.

Reasoning: 
Any alt that grows against BTC in a bull run, is by definition worth holding, as you're making more money than being in BTC.  Monero's clear use case, long history and liquidity means it's a pretty easy choice, plenty of OGs / opinion-formers have respect, and a soft spot for it, due to it being a real coin with an old-school 'pure' launch and good devs.

The only worry for the institutional investors is legislation or pressure that affects exchanges, but that's why half way to the BTC ATH, is realistic, a new ATH against BTC not quite so.  However, as many shitcoins wane because their use cases are risible and (for the coming big consolidated exchanges) it's not worth listing them due to cost and increased attack surface risk, the cream will separate and Monero should stay the distance.

TLDR:  New USD ATH?  Sure, why not?

Bold emphasizes the point that many people who were into Bitcoin for the "right reasons"; which I personally believe is the pursuit of a censorship resistant, peer-to-peer, digital currency rather than the pursuit of a government friendly/KYC compliant currency to improve ROI for essentially tech savvy Wall St. bankers.  People seemed to have forgotten why S. Nakamoto created this thing in the first place.  It was proven that the level of crazy shenanigans and low standards of care banks had for their customers allowed banks to set a bar so low, that S.N. developed an ingenious way to allow every day citizens in any country to use their own currency not dependant on third parties, nor a government that lets bankers get away with corruptness.

There is a case to be made to anyone who is scared of using/"investing" into something like Monero because of fear of regulation.  The main fear back in the day (2011-2012) was that Bitcoin would never go mainstream due to all the negative stories associated with it due to it being used on the Dark Web/Silk Road... surely no one would want to touch that with a 10 foot pole, right?

Skip forward to now and look at any of the Bitcoin/crypto conferences of today in 2020.  Suits, investment firms, you name it are there and ready to make a quick buck by trying to pump the "next big thing" BCH, XRP, ETH, etc. without the slightest idea in their mind why crypto currencies were used in the first place.

Fuck the suits.  Use Monero.

[bitebits]

[...]

Skip forward to now and look at any of the Bitcoin/crypto conferences of today in 2020.  Suits, investment firms, you name it are there and ready to make a quick buck by trying to pump the "next big thing" BCH, XRP, ETH, etc. without the slightest idea in their mind why crypto currencies were used in the first place.

Fuck the suits.  Use Monero.

Great post phishead. Ricardo made a statement on the recent Davos 2020:

A fluffypony walks into an event full of suits at Davos. Chaos ensues.

https://twitter.com/fluffypony/status/1219739580020162561

[Febo]

For those of you that missed it.



I went to check this hearing and found where he said that.  He basically said, that Bitcoin is for China and Monero for USA.

https://www.youtube.com/watch?v=-q9upPs6-Ms&feature=youtu.be

[Hueristic]

For those of you that missed it.



I went to check this hearing and found where he said that.  He basically said, that Bitcoin is for China and Monero for USA.

https://www.youtube.com/watch?v=-q9upPs6-Ms&feature=youtu.be

Well this is Great news !!!!


https://www.youtube.com/watch?v=7iBpJUzz79c

[Millionero]

For those of you that missed it.



I went to check this hearing and found where he said that.  He basically said, that Bitcoin is for China and Monero for USA.

https://www.youtube.com/watch?v=-q9upPs6-Ms&feature=youtu.be

Powell didn't say anything about Bitcoin or Monero, and I don't think you can extrapolate from his statement any implied support for such coins.
Powell wasn't talking about decentralized, p2p crypto.  He was talking about China's proposed issuance of a state-controlled virtual currency.  Powell thinks a transparent blockchain is in keeping with the way China does things, where the government is up everyone's ass and wants to control your very thoughts.  He doesn't think the U.S. is like that.  But the implication is not that Powell supports a decentralized, censorship-resistant coin like Monero.  I think he probably supports a ledger controlled by a central actor like the Fed or the US government, a ledger with some degree of privacy and fungibility.  But the privacy and fungibility you would get with a FedCoin is probably no better than the privacy and fungibility you have in your bank account today.

[Globb0]

Weeeeeee

[Hueristic]

For those of you that missed it.



I went to check this hearing and found where he said that.  He basically said, that Bitcoin is for China and Monero for USA.

https://www.youtube.com/watch?v=-q9upPs6-Ms&feature=youtu.be

Powell didn't say anything about Bitcoin or Monero, and I don't think you can extrapolate from his statement any implied support for such coins.
Powell wasn't talking about decentralized, p2p crypto.  He was talking about China's proposed issuance of a state-controlled virtual currency.  Powell thinks a transparent blockchain is in keeping with the way China does things, where the government is up everyone's ass and wants to control your very thoughts.  He doesn't think the U.S. is like that.  But the implication is not that Powell supports a decentralized, censorship-resistant coin like Monero.  I think he probably supports a ledger controlled by a central actor like the Fed or the US government, a ledger with some degree of privacy and fungibility.  But the privacy and fungibility you would get with a FedCoin is probably no better than the privacy and fungibility you have in your bank account today.

That doesn't matter, what matters is that he is making our argument for us and we can always point that out in the future. Its called precedent and he is laying the foundation whether he intended to or not.

[Bassica]

How's fluffy progressing with that law firm for that listing guidance?

[Febo]

For those of you that missed it.



I went to check this hearing and found where he said that.  He basically said, that Bitcoin is for China and Monero for USA.

https://www.youtube.com/watch?v=-q9upPs6-Ms&feature=youtu.be

Powell didn't say anything about Bitcoin or Monero, and I don't think you can extrapolate from his statement any implied support for such coins.
Powell wasn't talking about decentralized, p2p crypto.  He was talking about China's proposed issuance of a state-controlled virtual currency.  Powell thinks a transparent blockchain is in keeping with the way China does things, where the government is up everyone's ass and wants to control your very thoughts.  He doesn't think the U.S. is like that.  But the implication is not that Powell supports a decentralized, censorship-resistant coin like Monero.  I think he probably supports a ledger controlled by a central actor like the Fed or the US government, a ledger with some degree of privacy and fungibility.  But the privacy and fungibility you would get with a FedCoin is probably no better than the privacy and fungibility you have in your bank account today.

He believes that how Monero as it is today is more appropriate for USA then Bitcoin.   Nope he did not mention any cryptocurrency, but he mentioned that transparent ledger coins are inappropriate for the culture/society he lives in.

How's fluffy progressing with that law firm for that listing guidance?

If for so many even FED chairman statements cant stop FUD about how inappropriate are opaque ledger cryptocurrencies then I would not put that much hope in some legal opinion.  

[Febo]

Also for those that did not noticed. 617 days after BTC/XMR death cross was made, the golden cross appears. Now just imagine what lays ahead of us

[tokeweed]

For those of you that missed it.



I went to check this hearing and found where he said that.  He basically said, that Bitcoin is for China and Monero for USA.

https://www.youtube.com/watch?v=-q9upPs6-Ms&feature=youtu.be

Don't know about that...  It sounds more like:  'Yo listen.  I bought a bunch of privacy centric coins.  It's the s**t and I'm gonna shill the s**t out of it (which is good).'.  But subtle.