Post
Topic
Board Speculation (Altcoins)
Re: [XMR] Monero Speculation
by
Johnny Mnemonic
on 02/10/2015, 09:10:29 UTC

Fully agree. Please dont jump and get hyped about any coin, because of some strangers in the internet. Take time and do plant of research and, before you start trowing many on any coin.

I guess the main question I would have now is, where would I go to do a non biased research on the coin I want to look further into?  It seems impossible to do this, especially with all of the information about cryptos being on the internet.  What made you feel strongly about Monero in the first place?  What makes you feel even more strongly about Monero now? I want to see for my self, but I would have no idea where to start.

Regarding Monero research: go read the early pages of the Bytecoin (BCN) thread. That will give you the unbiased truth of why Monero came to exist.

In early 2014, anonymity (privacy) was the big issue, and there wasn't a whole lot of talk about fungibility. It was well known you could improve bitcoin's privacy with coinjoin or mixing, but I don't think the implications of Monero's opaque blockchain became realized until long after its release. The idea that addresses on a transparent ledger always have a history (regardless of mixing), but on an opaque ledger they don't, is still not quite grasped by many in the crypto space.

TL;DR Monero is still relatively young but its purpose has already shifted.

Please go on...

Monero started out as a "niche" currency that was lumped together with darkcoin and the others of the time with privacy as it's claim to fame. I don't think many (any?) of us saw where it was going in terms of being the only crypto capable of actually functioning as a currency, due to its true fungibility.

Especially now that bitcoin's weaknesses are really starting to show, Monero is becoming less of a "niche currency" and more of "the only currency that actually works." We've transcended why privacy is important. It's just a necessary side effect of a robust and decentralized system of money.