Monero / BitcoinLong
XMR Monero Best long in crypto
Updated
Let me be clear. Monero is the ONLY cryptocurrency that provides fungibility AND the total supply can be audited. It's the swiss bank account 2.0.
I predict it will NEVER break its lower support line against BTC.
This chart doesn't quite go back far enough or it would look even better. I'm not going to get all fancy with the charting here but there's a solid bull flag and the RSI and MACD are looking perfect. If Monero breaks through it's previous upper resistance, it will be HUGE. For those of you less into the fundamental analysis, I assure you Monero is what Bitcoin was supposed to be. Here's a nice quote from Bitcointalk.org from back in 2010, before Monero was created, from Bitcoin's creator himself. Shortly after this he disappeared and Monero was created. Interesting. Who's to say he's not actively working on it today? I personally spend alot of time in the IRC channels and follow the github activity religiously. This project has it's shit together.
bitcointalk.org/index.php?topic=770.msg9074
Satoshi
Founder
Sr. Member
Activity: 364
View Profile
Re: Not a suggestion
August 13, 2010, 07:28:47 PM
#15
...
(responding to other user)
...
What we need is a way to generate additional blinded variations of a public key. The blinded variations would have the same properties as the root public key, such that the private key could generate a signature for any one of them. Others could not tell if a blinded key is related to the root key, or other blinded keys from the same root key. These are the properties of blinding. Blinding, in a nutshell, is x = (x * large_random_int) mod m.
When paying to a bitcoin address, you would generate a new blinded key for each use.
Then you need to be able to sign a signature such that you can't tell that two signatures came from the same private key. I'm not sure if always signing a different blinded public key would already give you this property. If not, I think that's where group signatures comes in. With group signatures, it is possible for something to be signed but not know who signed it.
This is exactly what Monero can already do by the way, with incredible improvements ahead. Some people stayed in BTC for the money. Many of the true cypherpunk anarchists moved to Monero to create the ultimate tool for financial freedom. XMR will change the world.
If you're a trader, I'd set a fairly tight stop and try to ride this baby up. If it breaks resistance it's going to be gone. XMR is one of my biggest investments and I pray for more chances of lower entry as I accumulate more to put into it. HODL
I predict it will NEVER break its lower support line against BTC.
This chart doesn't quite go back far enough or it would look even better. I'm not going to get all fancy with the charting here but there's a solid bull flag and the RSI and MACD are looking perfect. If Monero breaks through it's previous upper resistance, it will be HUGE. For those of you less into the fundamental analysis, I assure you Monero is what Bitcoin was supposed to be. Here's a nice quote from Bitcointalk.org from back in 2010, before Monero was created, from Bitcoin's creator himself. Shortly after this he disappeared and Monero was created. Interesting. Who's to say he's not actively working on it today? I personally spend alot of time in the IRC channels and follow the github activity religiously. This project has it's shit together.
bitcointalk.org/index.php?topic=770.msg9074
Satoshi
Founder
Sr. Member
Activity: 364
View Profile
Re: Not a suggestion
August 13, 2010, 07:28:47 PM
#15
...
(responding to other user)
...
What we need is a way to generate additional blinded variations of a public key. The blinded variations would have the same properties as the root public key, such that the private key could generate a signature for any one of them. Others could not tell if a blinded key is related to the root key, or other blinded keys from the same root key. These are the properties of blinding. Blinding, in a nutshell, is x = (x * large_random_int) mod m.
When paying to a bitcoin address, you would generate a new blinded key for each use.
Then you need to be able to sign a signature such that you can't tell that two signatures came from the same private key. I'm not sure if always signing a different blinded public key would already give you this property. If not, I think that's where group signatures comes in. With group signatures, it is possible for something to be signed but not know who signed it.
This is exactly what Monero can already do by the way, with incredible improvements ahead. Some people stayed in BTC for the money. Many of the true cypherpunk anarchists moved to Monero to create the ultimate tool for financial freedom. XMR will change the world.
If you're a trader, I'd set a fairly tight stop and try to ride this baby up. If it breaks resistance it's going to be gone. XMR is one of my biggest investments and I pray for more chances of lower entry as I accumulate more to put into it. HODL
Note
I've spent a bit of time this week deep diving even harder into the capabilities of the lightning network. Don't believe the fud. My main fear was that lightning would result in centralization. I promise no matter what you hear that's not going to be the case. Decentralization is built into the protocol. Lightning generates it's own routes across the network. They aren't set up manually through centralized hubs by default. Even if centralized hubs are manually set up, those using the defaults of the protocol will take advantage of the centralized hubs that may have been set up and route around them. The reason this interests me so much is because it creates a possibility for Bitcoin to increase it's dominance in the markets. It's yet to be seen how much privacy can be built on top of lightning and other layer 2+ protocols. If this privacy is determined sufficient, it could take away the edge that Monero currently has in the upcoming years. For now, I have around 10x more BTC than XMR. I plan to retain this ratio until more information is available on the direction that the lightning network is headed.
I'm not going to follow my own advice here but from a traders perspective I'd say XMR is near its top. It could certainly break through this top and go much higher but IMO the odds are better for it to run back down through its channel. If not shorting, watch the lower range of the long term trend for a crystal clear buying opportunity and enter heavily.
Trade active
Well at least I called the top on here even if I lost a significant amount of cheddar by not following my own advice. If we hit the bottom of this very long term support line I'm YOLOing. I'm on the fence about lightning network. I've spent the last couple months researching and it's not as good as I thought. There are definitely going to be some use cases that haven't been thought of that still make it a good thing, but you kind of have to manually decentralize it and I'm not sure how the scaling is going to work for listening to other lightning nodes updating the state of their channels.Note
Been hearing XMR mentioned increasingly often by even BTC maximalists. It's a tough topic to grasp but the mining algorithm and reward system may turn out to be essential long term. I wouldn't be terribly surprised to see XMR get pretty close to that very long term trendline before exploding upwards. Fundamentally there are some incredible innovations coming up. Watch the git repo.
XMR is decentralization done right by a group with aligned incentives. Hopefully things stay this way for long enough to turn into something truly incredible.
BTC's network effect is strong. Keep in mind a huge majority of the world has no idea what any of these coins are doing under the hood.
Def keep some BTC. Def buy some XMR. Timelock it for a couple years if you have the technical know-how.
Note
Kovri alpha is functional. It's an improvement to even TOR as far as hiding IP addresses goes. This is a key component of a privacy coin and it will be implemented by default, likely within a year. My bet at this point is wait until 0.011-0.013 and YOLO into XMR. Always keep some BTC but the rest of what's going on in this space can't hold a candle to XMR's functionality. Bulletproofs also live on wownero. If youve never heard of it it's an XMR fork that started in april when v7 was launched. It's basically a testbed the OG whales play with but bulletproofs are working great!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.