- Aug 28, 2015
- 517
- 1,679
In the coming years I believe a single blockchain will emerge upon which a large amount of internet commerce will take place. I see the internet superseding individual nation states as an economic bloc in the minds of the coming generations and that money will exist only on the internet in a world where everyone is connected all of the time. Money as an internet layer, with a single scalable, trustless, secure cryptocurrency payment ledger for the world to pass value back and forth between themselves.
With the failure of bitcoin to overcome centralised development concerns and the current developers changing the economic model of bitcoin there is now a distinct possibility that another blockchain may capture the crown.
Monero is a such a contender chain with hardcoded privacy features and fully anonymous transactions, a flexible blocksize system and six monthly hard fork cycles. Whilst several other chains are possibilities not to be ignored (ethereum, dash, etc) this thread will follow the fortunes of this particular cryptocurrency into the future.
At the time of writing the current market cap of XMR is roughly $11,000,000 with 11,600,000 coins emitted onto the bitmonero network. A single coin is worth $95cents. Compared to bitcoin, a single XMR is currently around 0.0022 btc.
A few development and usage hurdles are required before XMR can grow in price IMO. First the GUI needs to be completed and XMR must find usage on the DNM. Once these two things begin to occur then the price could surprise many with it's growth.
Another scenario which is likely IMO is that when (if?!) bitcoin eventually bubbles a few selected alt coins will likely bubble also. In that situation monero could suddenly rise in price one or more orders of magnitude and still have a small market cap.
Like btc I view xmr as a assymetric bet with an unlimited upside, the downside being losing the meagre investment I have put in.
In the short term the price could try and retest the recent high 0.0041 or retest the lower end of the channel at 0.0009. I will probably add if the price drops below 0.002 and observe if it rises above 0.003.
With the failure of bitcoin to overcome centralised development concerns and the current developers changing the economic model of bitcoin there is now a distinct possibility that another blockchain may capture the crown.
Monero is a such a contender chain with hardcoded privacy features and fully anonymous transactions, a flexible blocksize system and six monthly hard fork cycles. Whilst several other chains are possibilities not to be ignored (ethereum, dash, etc) this thread will follow the fortunes of this particular cryptocurrency into the future.
At the time of writing the current market cap of XMR is roughly $11,000,000 with 11,600,000 coins emitted onto the bitmonero network. A single coin is worth $95cents. Compared to bitcoin, a single XMR is currently around 0.0022 btc.
A few development and usage hurdles are required before XMR can grow in price IMO. First the GUI needs to be completed and XMR must find usage on the DNM. Once these two things begin to occur then the price could surprise many with it's growth.
Another scenario which is likely IMO is that when (if?!) bitcoin eventually bubbles a few selected alt coins will likely bubble also. In that situation monero could suddenly rise in price one or more orders of magnitude and still have a small market cap.
Like btc I view xmr as a assymetric bet with an unlimited upside, the downside being losing the meagre investment I have put in.
In the short term the price could try and retest the recent high 0.0041 or retest the lower end of the channel at 0.0009. I will probably add if the price drops below 0.002 and observe if it rises above 0.003.
