Monero (XMR) thread

The Grey

Sparrow
young_money said:
What do you guys think about the current price as an entry into Monero for a newb?

Honestly, it depends on your goal and timeframe. It is likely we'll see lower pricer than today.

My strongest advice is dollar cost averaging into the coins / assets you want (high reward, low risk, low stress and lowest amount of effort). Use a fixed amount (ie $100 or fixed % of your salary) every month to buy the coins / stocks you want, regardless of price.

If you want to trade more actively you can wait until the price of XMRUSD crosses ABOVE the 200-day moving average. When this has happened, the price will already have found its bottom some time ago and risen since.

But it means that we have most likely reversed from bear to bull market and your risks are significantly lower.
 
The Grey said:
If you want to trade more actively you can wait until the price of XMRUSD crosses ABOVE the 200-day moving average. When this has happened, the price will already have found its bottom some time ago and risen since.

But it means that we have most likely reversed from bear to bull market and your risks are significantly lower.

Not sure I 100% agree with this; we're starting to see weird, likely unsustainable spikes in stuff. (Like BNB today)
One possible strategy would be to wait for the 20 day moving average to cross the 200 day moving average. That would give you a bit of a safer entry.

Also I looked at the XMR chart for the first time in a long time today, and good god. It looks like death.
 
I poked around and yeah, buying after a pop above the 200 day is a bad strat in this market.
XRP went above the 200 a few weeks ago (God knows why) and if you bought then, you would've lost something like 30% in the span of a few weeks.
 

Iconoclast007

Woodpecker
I have been reasearching heavily this year about crypto. Ive come to the conclusion that Monero is the best coin available from a fundamental perspective. I started DCA buying 500 per month starting in FEB.

Im stacking silver bullion and buying monero. I think their increases in value soon will be correlated. I think there could be downside in the short term but im ok with that as my plan is to DCA every month. 500 in both.
 
Iconoclast007 said:
I have been reasearching heavily this year about crypto. Ive come to the conclusion that Monero is the best coin available from a fundamental perspective. I started DCA buying 500 per month starting in FEB.

If you've been researching, did you read what happened to the last guy in this thread who came to the conclusion that Monero is the best coin available from a fundamental perspective?
 

Iconoclast007

Woodpecker
Im curious if people are beginning to use Monero in collapsing economies like Venezuela, Argentina, South Africa etc.. Ive heard of Dash being used in Venezuela.

Im of the opinion that there will be a great financial collapse or reset happen very soon similar to 2008 but magnitudes more complicated. I think gold and silver are great stores of wealth in preperation. I also believe crypto could be a great store of wealth. Privacy coins like Monero would be an ideal place to store wealth from a desperate government inacting capital controls etc.

I have been stacking silver and gold and recently started buying Monero. I dont see any other attractive investments in the current financial climate.
 
Iconoclast007 said:
Im curious if people are beginning to use Monero in collapsing economies like Venezuela, Argentina, South Africa etc.. Ive heard of Dash being used in Venezuela.

Im of the opinion that there will be a great financial collapse or reset happen very soon similar to 2008 but magnitudes more complicated. I think gold and silver are great stores of wealth in preperation. I also believe crypto could be a great store of wealth. Privacy coins like Monero would be an ideal place to store wealth from a desperate government inacting capital controls etc.

I have been stacking silver and gold and recently started buying Monero. I dont see any other attractive investments in the current financial climate.

They seem to mostly be using bitcoin. Bitcoin's better because of the higher liquidity and better-developed infrastructure, and "privacy" isn't a big selling point because a failed state doesn't really have the resources to track your movements on the BTC ledger the way say, the United States does.
 

Iconoclast007

Woodpecker
Yes, i agree that privacy isnt an issue.... Yet.

I would argue that it is the US gov and Chinese Gov that privacy features will become valuable against. To a lesser extent the EU.

The next crisis could be triggerred anywhere but will become contagious almost instantly due to the incestous nature of the current economic system.

If China, US, EU see a collapse in currency valuation they will put capital controls in place. These capital controls will likely include cash, precious metals and crypto.

Monero solves this situation as does Gold and especially silver bullion. Monero is actually better than gold in that it cant be confiscated.

I believe silver is to gold as monero is to bitcoin. I pick silver 1oz bullion rounds and monero.
 

Iconoclast007

Woodpecker
I will add that I have some sailing friends in the islands near Venezuela. Margarita island. I am told that DASH is the most commonly used crypto there. They mentioned that the transactions are often very small and Monero transaction fees are too high at this point to justify the privacy feature.

Monero would be better suited for storing larger sums. DASH is used to buy bananas at the market.
 

Iconoclast007

Woodpecker
I purchased another 500 Euros into Monero Today. DCA every month is my plan.

SamuelBRoberts. You made a comment earlier in this thread that you wished you had purchased monero at around 50USD. It is currently trading at the level. Are you buying , or has your opinion changed?
 

The Grey

Sparrow
SamuelBRoberts said:
The Grey said:
If you want to trade more actively you can wait until the price of XMRUSD crosses ABOVE the 200-day moving average. When this has happened, the price will already have found its bottom some time ago and risen since.

But it means that we have most likely reversed from bear to bull market and your risks are significantly lower.

Not sure I 100% agree with this; we're starting to see weird, likely unsustainable spikes in stuff. (Like BNB today)
One possible strategy would be to wait for the 20 day moving average to cross the 200 day moving average. That would give you a bit of a safer entry.

Also I looked at the XMR chart for the first time in a long time today, and good god. It looks like death.

Check again now. This is what I meant.
 

BURNΞR

Pelican
There's an accelerating trend of banning XMR from exchanges with the coming FATF rules advocating exchanges to report any transaction over 1k USD to the relevant tax authorities. I think these rules will start to come into effect in mid 2020 but many exchanges all over the world are de-listing XMR (and other "privacy coins" like DASH, ZEC) because governments don't approve. I'm not sure what will happen. I have to imagine XMR will win in the long run but it's not looking so great at the moment.
 
This thread is about the Monero cryptocurrency, also known as XMR for short.

What is it?
Monero is secure, low-fee, and borderless, meaning users can send XMR around the globe despite corrupt governments or broken financial systems. Innovative privacy features such as Ring Signatures, Stealth Addresses, and Ring CT (hidden tx amounts) ensure that Monero's blockchain is obfuscated -- the financial history of all Monero users is encrypted from the prying eyes of adversaries on a public blockchain, with transactions being visible only by a Monero user willingly providing a view key for a specific transaction.

Wikipedia: https://en.wikipedia.org/wiki/Monero_(cryptocurrency)
"Official" Website: https://www.getmonero.org/

Videos that explain it (and it's benefits over other cryptocurrencies):


How to get it?

KYC:

  • Binance
  • Kraken
  • Bitfinex

Non KYC:
  • Local Monero
  • Morphtoken
  • Bisq
  • Kucoin
  • Tradeogre
  • Crypto ATMs
  • Craigslist

Mining

Wallets (please note that I haven't verified all of the 3rd party wallets):
  • Monero Gui/Cli (recommended as it's from the Monero developers themselves)
  • MyMonero
  • Exodus
  • Feather
  • CakeWallet
  • Monerujo
 
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