/biz/ - Business & Finance

It's currently being controlled by their own cartel.

>>29665460
Criminal Enterprises run XMR farms to keep the price stable for transactions.

At best you might be able to do a 10x with XMR over the span of the next few years but that's the best its got.

A comfy HODL but not in a bullrun.

>>29665763
>>29665692

Very interesting. Thanks.

>>29665460
infinite inflation bug

>>29665763
Shut up. Monero can be mined by everyone with a cpu unlike every other coin.
>>29665460
Price supression is going on. It is the most shorted coin on the market.

because privacy coins are pretty much only useful for pedos and other anti-socials

>>29667173
Sounds based

>>29667173
>use bitcoin
>Get robbed because your stash is visible to the world.

Anti-Money Laundering Act was passed in December, the US Treasury said it will use it to combat cryptocurrencies used for criminal emterprises
Monero would be the first target since it's the currency of choice in dark markets. it has untraceability built in so they will go after it claiming it's a money laundering tool (and it basically is)
that means no exchange will want to support it and risk the wrath of the US government (even foreign exchanges). then it stops being a tradeable asset

>>29667811
>moneroth will thtop being used when gubmint bans it
>da wathe of da US GUBMINT

Just like the wrath of the US government shut down torrenting right? How many wagie bucks is Biden paying you to spew this shit?

>>29667811
I feel like this kind of hype would drive the price upward. "If the government hates it so much it must be valuable".

There just needs to be some sort of way to link it up to Defi. I wonder if Ren would be able to come up with some trustless way to offer a RenXMR.

>>29665460
I'm not a specialist, but i think asic resistant coin, like monero, creates less incentive for big mining farms to mine it, and thus less competition, less total hash power, thus less value, thus less price.
Take this explanation or leave it.

>>29668444

you're comparing people downloading episodes of GOT to drug money laundering?
if the government classifies privacy coins as money laundering tools then no exchange will touch it. Monero only has value when you convert it back to actual money in the bank and that will be incredibly difficult to do once it is banned.

>>29669201
Wrapped XMR already exists but literally nobody uses it because it compromises your privacy. Linking XMR up with defi realistically won't happen. If it really is possible to guarantee full privacy on an otherwise transparent chain like Ethereum, though, you might have something big going.

>>29667459
just realized it's probably only extremely poor people who can't see the importance of fungibility, since I'm pretty poor so they must be even more broke than me

>>29669201
Tari

>>29670392
>that will be incredibly difficult to do once it’s banned

Phew, where do I start. First off, yes I’m comparing torrenting and Monero because they both rely on P2P networks, which I know gubbymint hates, but they can’t do shit about. That’s the comparison I’m making. Second, there is nothing illegal about owning an asset which is fungible and transactions are private. Cash is. Gold is. Silver is.

They can’t ban a global P2P currency. People said the same shit about BTC and guess what, it isn’t happening. Sucks for them.

>staking Monero
>mining Monero with my AMD Ryzen CPU.

comfy

notice how every shilled pajeet foodtoken crashes soon after?
monero is getting fudded without any valid arguments, think for yourself what this implies.

>>29671856
*stacking

>>29665460
because (((institutions))) are pumping crypto now, and no institution is going to pump a privacy based coin because they don't want to get dicked by glowniggers.

Stack XMR if you actually have a use for it, but don't expect it to moon.

>>29670704
I guess I don't mean fungibility, just simple financial privacy. I mean imagine if people thought it was normal to have their bank account or stock brokerage account balance and transactions visible to every random person on the street.

>>29665460
Monero is undervalued because the cryptocurrency market is RETARDED.
Just look at the comments in this thread -- you have retarded assumptions about criminal cartels "running xmr farms", or paranoid theories about the United States "banning" Monero, or you have demoralizatoin "Monero is good but it won't do anything in this bull run" trash.
Monero is literally Bitcoin in 2012. The reason it isn't more popular is because it has a pleb filter because of the more complicated technology. Spend several hours studying it and you won't be able to go back to one of those shitcoins.
Come hang out in the xmr generals. It's comfy.

Is privacy really the killer feature that will make this coin a good investment? I think using it for the explicit purpose of moving money and a store of value makes sense, but not as an investment.

Think about it. Do normies really care about privacy? If they did why is chrome the #1 web browser and gmail the second most used email client? The demand for privacy is just not there. There are faster, more convenient, feeless altcoins out there with slick marketing that is primed to take over the cryptospace.

>>29665460 see >>29673069
>The reason it isn't more popular is because it has a pleb filter
This is the only reason why. The market is full of autistic moonboys who barely even understand the bullshit vaporware they're supporting. Eventually, fundamentals will actually matter and you'll be glad you bought Monero.

>>29673317
Would you use venmo/paypal if it meant that the person you are sending money to could look at how much dollars you have sitting in your bank account?

>>29673317
Why do normies buy bitcoin? Because they heard about it in the news. That's really it.
If they hear Bitcoin with privacy they will go apeshit but they would first have to understand that Bitcoin doesn't have privacy.

>>29673317
protonmail is pretty popular too, apparently gov officials even use it.

Whatsapp might be the hugest, but theirs ppl liking signal or telegram now too right.

Normies are always late to the party. Think about how many ppl you know who farted on bitcoin when it was close to 10,000$ - I remember talking about it with friends when they were at 90$ and shitting all over how useless it is for most ppl. Look at it now friend...

Moneros quick, easy, accessible to all - its the ultimate. Read the white paper and its immediately known that BTC was really meant to be this.

I think the reasons for undervaluation are:

1. Regulatory pressure and negative connotation (e.g. Australia has banned privacy coins from their exchanges and KYC/AML regulations in EU and US put monero/zcash/dash in higher risks)

2. Not listed on big U.S. markets like Coinbase so it is hard to reach for americans which has higher purchasing power in crypto markets from manifacturers (China, Russia, Kazakhstan, Iran)

3. Incentive to mine isn't efficient even for higher end CPU's (AMD Threadripper 3990x priced at $3800 and gives you like 64000 H/s and consumes 600 W which equals to $1500 return or roughly 9.50 XMR per year and it is decreasing until May 2022 in which tail emission kicks in)

4.Used as a real currency than a speculative asset so many people make transactions and sell it not holding like bitcoin holders which doesn't have a use case

5. One of the most shorted coins in the market and it gives nice return from shorting

6. I'm not really sure about this but to my knowledge supply isn't auditable

7. Last month some group tried a 51% attack on monero network and has failed but it reached like 48 % of the hashrate of network 2miners.com IIRC

But nowadays there is a demand from both dark markets and investment firms (grayscale) so it's either crabbing or going up in value. I think it will see like $550-$750 maybe more. I wish it would see $2000 or more until then it is not profitable to mine with a average CPU. Don't forget that almost all bitcoin maxis agree that monero has a use case and some of them even advocate monero (Michael Saylor, Andreas Antonopoulos, Peter McCormack, Nick Szabo) and don't get me started on fungibility part IYKYK

>>29673716
>6. I'm not really sure about this but to my knowledge supply isn't auditable
see this: https://youtu.be/meDkx6gRPMg
> Last month some group tried a 51% attack on monero network and has failed but it reached like 48 % of the hashrate of network 2miners.com IIRC
There is no evidence this was an attack.
>Incentive to mine isn't efficient even for higher end CPU's
It's pretty efficient if you consider the long term value of Monero, which most Monero chads believe will follow Bitcoin long term.

>>29673069
Yup, exactly this.
Just look at all the centralized shitcoins in the top 20 marketcap right now.
Plebs don't even understand what a censensus algorithm is. They are going to get REKT when something like what happened with STEEM blockchain happens.

>>29674083
What happened with STEEM?

>>29674190
Got taken over by force by Justin Sun. He did this by taking over the validator delegation. This proved the flaw in delegated proof of stake algorithm.

>>29671856
feels good

thanks, I just bought one monero

>>29674643
Nice larp

>>29674643
You just bought an [unkown amount] of monero, fren. Time to learn the memes.

>>29674643
NGMI

>>29665460
The longer it stays undervalued the longer the pros mine it without everyone else emptying the Ryzens from the shelves like what happened with ETH.

I thought this was known? Mine while you can, am4 mobos can be had for cheap, same as ryzen 3600s

>>29673996

>It's pretty efficient if you consider the long term value of Monero, which most Monero chads believe will follow Bitcoin long term.

Past performance does not indicate future performances. Bitcoin thing happened at that time but we are not so sure whether or not that scenario will happen again. So again, it is not profitable to mine Monero right now so it can't gain the network effect that Bitcoin and Ethereum have.

>https://youtu.be/meDkx6gRPMg

Thanks. I'm watching right now.

>>29665460
I believe it is less volatile because it is more widely used, there is a healthy flow of fiat to XMR and XMR to fiat.

>>29673493
It blows my mind that more people don't understand this and they expect transparent blockchains to become mainstream. And also think about B2B transactions, I don't think businesses want their competitors to be able to track their financial transactions in real-time. BTC and other coins will never become mainstream, except just as digital gold sitting on the balance sheet I suppose, they would also be able to do that with xmr though. Anyone who thinks xmr will get banned should look at this paper and realize that money laundering and tax evasion is already illegal and that they it's easier to trace the more kyc onranmps and compromised merchants there are. So if anything they would try to increase xmr adoption.
https://www.perkinscoie.com/en/news-insights/anti-money-laundering-regulation-of-privacy-enabling-cryptocurrencies.html

>>29673493
I agree that no one except the receiver and sender should be know what is being exchanged, but the reality is that millions of people give that right up just to conveniently send money to friends. Venmo shows transactions publicly by default - they literally market themselves as a social payment app. I guarantee you more people use cashapp/paypal/venmo to send money than physical cash. If that's an indicator of monero's likelihood of adoption, thats pretty bad

>>29673605
That's exactly it. They buy because of pure speculation, not be because they understand the technology or its use case. All they see is the $50k price going up. I do guess we're only one elon musk tweet away from going to moon though

>>29665460
big fan of monero but idt price will go up soon

>>29665460
Hard to cash out if you want to do things legally
don't see big institutions buying into this

>>29665460
Monero is about technology, bitcoin and other shitcoins are about hype. If you want to put your money in something sustainable and long term you put it in monero. If you want to make a quick 2x 5x or 10x gain you put it in the most hyped coin you can find, ideally with no working product in sight and a bunch of vaporwave.
> t. 0.00 btc and [redacted] xmr

>>29674954
>Past performance does not indicate future performances. Bitcoin thing happened at that time but we are not so sure whether or not that scenario will happen again
Monero's growth in adoption on the dark net would say otherwise. There is actual demand for Monero when there is a need for privacy, which is something that almost no other crypto can say (that is, actual usecase instead of vaporware bs). So while you are correct that it isn't a sure thing, I think it's a pretty safe bet, even when just looking at the price charts as opposed to the growth in transactions.
>>29675330
You completely misunderstand the problem with transparent ledgers though.
Venmo does show transaction amounts by default, but it does not show how much that individual has in their account, which is essentially what Bitcoin does.
>I guarantee you more people use cashapp/paypal/venmo to send money than physical cash
I don't think this is accurate, but again you are missing the point I am trying to make about why people value privacy. With those apps, there is (misguided) trust that those companies are not selling their information, but these people trust those companies because their financial history isn't being broadcasted.
Because obviously with Bitcoin, literally everything is on the table to see. I really doubt there will be a future where people are willingly transacting in Bitcoin with that type of liability.
>If that's an indicator of monero's likelihood of adoption, thats pretty bad
The indication can be seen on r/darknet or by looking at the transaction charts. As the underground economy grows for Monero, so will its status as the world's premiere cryptocurrency.

Just bought an amount of monero in this microdip

>>29674643
Thanks just sold 100k of yo moma

>>29670063
Hash power doesn't give value

>>29670063
What is this? Labor theory of value for machines?

>>29673069
nailed it