Post
Topic
Board Altcoin Discussion
Re: Could Monero replace Bitcoin soon?
by
Febo
on 20/09/2016, 16:53:05 UTC
Monero is about to dump back into 'anonimity'  Grin Grin

nice wordplay but i doubt that it is true.

Monero is just making some publicity and it could attract a lot of investors and a lot of money so even a downward spiral would take a very long time.

and don't forget that monero rose up from 0.004 to 0.015 (current price) and that rise doesn't happen out of nowhere.


Also this: Monero had 524 millions USD volume last month. There are only few coins that ever had that. This attract totally different kind of investors. Someone who plans to invest 10 millions USD will not invest it in something that have 10 million USD monthly volume, so will never be able to exit his investment.
Also 1/4 of all BTC usage was made with Monero. Most likely way more, since those that wanted to buy Monero with USD, Euros, CYN or YEN had first to buy BTC. So we can speculate that Monero gave from 25-50% of of all BTC volume.
With this is highly unlikely to expect that statement of Sukovsky become true.