A nice discussion on Monero.
I agree with you guys. I don't understand why XMR isn't bigger either. When I first looked into crypto during the big boom in 2017, Monero seemed like the clear choice, but it hasn't really changed much in value since then.Agree Mikey. I've been watching crypto currencies since 2013 and haven't found anything yet that can rival Monero for what it does.
Why is it so low? Well, everyday new coins are introduced with new features, new hype, new pumping, etc. and investors gravitate towards those. Meanwhile Monero does the same job from day 1 until now. It also has a bad image from media reports that might scare some away.
I think Monero will shine once regulation hits crypto currency.
That makes sense and is actually very commendable, in spite of XMR's reputation as the crypto choice for criminals. Still, you'd think that supply and demand would eventually kick in and drive the price higher.I think it is so low because people actually use it as a currency not an investment. Saw some videos in which the XMR proponents basically suggested to only buy Monero when you want to use it to buy something. That dosen`t help in pumping the price, I guess.
The more I dig down the Monero rabbit hole......the more I can't understand how this coin is sitting at $230 per coin.
-proof of work
-adjustable block size
At the very minimum the dark markets are going to adopt monero as their currency of choice......this is a value grab in the trillions. It's already the default currency of TOR.
What am I missing here?
Am I really just accumulating this for pennies on the dollar right now?
It feels like I've stumbled upon Bitcoin when it was hovering at lower prices.
Just sit and really think about how important privacy is going to become in the next decade.....AI, central bank digital currencies, "Great reset", etc.......
I really could not be more bullish on XMR. I am now at the point where I enjoy see price declines as it allows me to accumulate more XMR for my dollars.
Edit (for those in the USA that would like to easily accumulate monero)
>download cashapp and cake wallet
>Buy bitcoin on cash app
>Send Bitcoin to cake wallet and exchange BTC for XMR.
CakeWallet (free open sourced wallet) has a decent built in exchange. The fees aren't too bad here.Monero seems to still be one of the harder ones to get. Neither Coinbase nor Gemini seem to offer it, though they offer many others I've hardly heard of. Plus getting it anonymously, if you want to make a major investment, is hard and/or expensive (buy ETH, with a crazy fee, then trade for XMR, with another crazy fee, etc). I like the idea of Monero, it's one I want to use, but as always buying in and cashing out are the chokepoints.
Reminder: Monero is undervalued. Keep accumulating.
Accumulating NFTs by selling them for currency? Or spending currency to buy them?On my long list of crypto related tasks adding more Monero is on that list. Other tasks include accumulating NFTs, getting more exposure into DEFI (i.e. having money in pancakeswap), solving my keepkey issue, and solving that double charge coinbase and binance both charged me (what luck).