It's been a tough month for the BTC ratio. As Bitcoin nears it's peak, Monero has been hit hard. The weak hands are being shaken as is apparent with the concern FUDing over the past week from moonboys looking for a quick profit. But the smart money knows that this retouching of the BTC ratio trendlines is a perfect opportunity to do some stacking.
Fundamentally, Monero is ironically having a very strong month. Use case on the darknet continues an uptrend, as Monero has seen 5 days in the last month with daily transactions exceeding 20k (prior to 10/12, Monero had never broken 20k in it's seven year history). The implementation of CLSAG was also a success, which decreased transaction size by ~20%. We also have a fully funded Atomic Swap implementation that is already being worked on, and should be done by Q2 2021.
If you have any Monero related questions, feel free to ask and a Monero chad will help you out.
/XMR/ Monero General
I'm not feeling so good monerobros, xmr has been underperforming vs pretty much every other coin this past week and the fud is making me antsy about whether monero's tiny anonymity set is adequate.
name me a privacy crypto with a larger user set than Monero.
zcash, firo(zcoin), beam. Granted monero has the most liquidity and adoption though, which is huge but ringct seems pretty weak vs mimblewimble, zksnarks, and lelantus.
you do not know what "user set" means. user set implies a large amount of anonymous transactions to hide in. The coins you listed don't have that. Monero is the only coin with built in privacy on the base layer, meaning all transactions are fully shielded, and Monero has far more transactions to hide in compared to those shitcoins.
Zcash is pointless because it has optional privacy. Only 1% of it's daily transactions are fully shielded, and they regularly average about 4000 overall transactions compared to Monero's 18k of fully shielded, so they get blown the fuck out. I've never even heard of Firo so I can only assume it has absolutely zero adoption and therefore no user sets. Can you even name me a vendor that accepts that shitcoin? And Beam also is not adopted at all, which means its user sets are trash. Because Beam's market cap is so low, for example, moving a lot of value in that coin will make you stick out like a sore thumb. And this isn't even getting into why Monero's privacy is better than those three.
>ringct seems pretty weak
explain to me how it is "pretty weak". Monero transactions have never been directly traced, and that's why Monero is actually being adopted on the dark net.
How do we know the transactions are organic and not the result of glowies establishing a base on monero??? Im scared bros
trust in the code brother
BASED
XMR is not a coin for getting rich with imo. I'm comfy af with my XMR but have other plays for trying to make quick fiat
weak hands gtfo.
> Muh XMR isn't pumping this month
Yet you forget last month when everything else was dumping and XMR went from $80 - $130.
short term thinking only ... ngmi
even though the ratio's been hit hard it's honestly pretty surreal that we're having capitulation while holding above $100. In the $90 range I was waiting for a dip to buy back in (oldfag from 2014 here who didn't HODL) but I don't think we'll go much lower than this so good enough for me.
dude most people care more about the btc ratio than fiat. noone wants to lose their bitcoin.
yeah the anonymity set is basically how many other transactions yours is mixed with, which is only 11 for xmr and in the 10s of thousands for say beam. Yeah there aren't a ton of people transacting on beam, but what about litecoin w/ mimblewimble? seems a serious threat to xmr with their tx volume and would immediately become the top privacy coin.
More info on beam and LTC + mimble?
This is the one coin that I'm not JUST holding for a profit. What if I want to buy some shit on the darkweb? XMR is perfect for the what ifs.
I sold my 0xBitcoin for XMR
HIGHLY BELIEVABLE STORY
THX FOR SHARING
take a look at pic related. It seems pretty organic to me. White House Market (the dark net market that uses Monero) started in the fall of 2019..
Also, glowies in different countries are trying to crack Monero. Hell, in America's deep state oftentimes different intelligence agencies are working on objectives without knowing that other agencies are also working on the same objective. Ironically if glowies are spamming transactions there is no way of knowing if other glowies are doing the same, and therefore it increases the user set!
So to answer your question: there is no way of knowing, but we do know that dark net adoption is increasing and this is likely where most of the growth has been.
Regarding litecoin, again, this is optional privacy. Optional privacy doesn't work. You need to have it integrated in the baselayer for normies to use it. Privacy is something that needs to be hardwired into the baselayer to actually be used. 99% of people who buy crypto don't want to put in extra research. In fact, most are buying to hold. This is why Monero is king of privacy, because not only is it private, but it is being bought to be used, as proven by it's long term growth.
Forgot to include the transaction chart lol
yea that's fair, I get that. The dumping on the ratio has been brutal but imo that just means the bounce will be just as brutal (to sellers) since the fundamentals are stronger than ever, so I just see it as a buying opportunity. And I'm sure there are a lot of other people who didn't hold through 2017 looking to get back in. The fud (other than mining centralization) is only concerning to people who don't understand opsec and those who don't understand what makes xmr superior to mw and zk-snarks(like yourself).
I know the trusted setup is major problem with zksnarks, but what is the main problem with mw? seems only a lack of tx volume.
what's le lantus?
it seems to be a much improved version of zerocoin. coins are burned and go into a pool, then later you can mint fresh coins from the pool. the anonymity set there is all the coins that have ever been burned instead of only 11 mixins.
>the anonymity set there is all the coins that have ever been burned instead of only 11 mixins.
for every Monero transactions there ten mixins. Today there is 20k monero transactions, meaning there are 200k total dummy transactions in the pool. This privacy is enhanced by ring ct (amount being sent unknown) and stealth addresses (preventing people from knowing where the monero is being sent).
beam has a 20% dev tax. was developed in israel. It has a retarded supply. Not user friendly (I believe both parties have to be online). No adoption. Small community. Privacy wise monero is better because you can build transaction graphs against MW.
I AM FOMOING SO HARD FOR BITCOIN AND ETHEREUM
fuck this xmr shit coin
From my understanding mw txs can be easily traced, and mw on ltc or btc means optional privacy, which is also zcash's weakness. Also I'm pretty sure xmr could adopt it anyway. There's a reason xmr has been adopted already and not zcash or grin. Also like OP said in the post above, beam is developed by an israeli corporation, also zcash devs are on record supporting implementation of a backdoor.
ngmi
WHERE'S THE FUCKING LIST OF USEFUL LINKS?
>xmr thread
So much FUD.
How much should I put in XMR right now? I currently hold no crypto, and I have about $1000 I'm willing to invest. In all my research BTC and XMR seem safest in the long term, but I want to hear your ideas.
comfy
yeah my bad. I was too lazy to look up the archive.
I think I am going to create a pastebin with a somewhat revised OP with some FAQs in there as well. And then that pastebin will be included in every OP so other anons can start generals. I might do that later tonight if I have time. If other anons want to work on it to meantime that'd be dope
Well user, keep in mind that Bitcoin is approaching it's top, meaning that investing everything at this point could be a bad idea. To hedge against this volatility, you may want to consider dollar cost averaging.
As for your choices of crypto, those are the two safefst bets in my opinion. Bitcoin is undeniably the safest, but Monero has a lot of upside. Check out the Monero BTC ratio. Monero should hold to at minimum .01 BTC during the next bull run, but most of us in this gen believe it will be anywhere between .02 - 0.1.