Holy transaction count, Batman! Lots of action ahead of the tx cost increase... I haven't seen it over 5000 tph previously. Did I miss it, or is this unprecedented?
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Speaking of tx count, it is nice to see it growing, apparently "organically", over the course of months and months, however, at current fee rates there is only about $500 worth of XMR paid out to miners each day in fees. I think after the upcoming hardfork that number should increase by a factor of 10x (?), so it will be interesting to see if tx growth continues to build (imo indicating real organic usage) or if it falls off (which may indicate someone was paying the fees to spam the chain either for chain analysis reasons or to simulate organic usage and pump price).
Wait, what happens with the hardfork and mining fees again?
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Also, The XMR/BTC 20 week SMA has just crossed over the 100 week SMA!
The last time Monero's 20 week SMA crossed over the 100 week SMA was May 2016, sparking the beginning of the biggest bullrun XMR has ever seen!
Nice spot! I haven't looked at the weekly in forever. That brings back some strong memories. I have been watching the transaction count regularly for the last couple years though, and being on the cusp of 1000000 tx this month is pretty big news.
And XMR is tracking with BTC. Going UP just a little against BTC. As far as the altpocalypse goes Monero is fairing better than most.
I don't know why, but it makes me smile to see ETH crashing
XMR going down with BTC seems like old news; nothing to see here, come back next year. I'm sad to say I have hardly transacted with XMR since the demise of XMR.TO. I've been away from crypto in general this year, living off grid in the mountains. I don't miss the computer or people or the rat race much at all (and now with Starlink I'm a bit connected again). Call me when I can buy a new excavator for a handful of XMR
Come On, Man! That next zero is waaaay overdue! Surely at least we can hold above 200 for a while. or forever.
Perhaps "shortly" was a bad word choice. But I do mean soon. In the meantime we hang in the balance of bitcoin's existential dread.
It's looking more like mid winter to me now. Maybe next year. No time to spend on it anyway. I had WAY more free time when I had a job. Now its just endless unpaid work Not complaining, I'm living the dream
And Bitcoin, while also down is showing fairly strong support and not doing the sort of draw down we have seen in past bears. Many are still calling for Bitcoin to do something it never has and pull back to below the last cycle's highs.
This belief seems widespread, however it is false.
Top of April 2013 was $266.
Top of December 2013 was $1170.
Bottom of August 2015 was $160.
And I remember at the time, during the downtrend post December 2013 peak, many people could not envision the price going below 266$ because "the price never went below the last cycle high" (and despite this pattern being true at that time - unlike today, the pattern got broken).
Nice catch... Maybe it's the preponderance of folks coming in between 2015-2017 that makes this belief popular.
On to a chart. I have had these little lines on my monero USD chart for a while. We are fairly decisively busting through them, looks like. I think if we get the BTC run I am kind of expecting (just a little relief, or a start to a good little bull? dunno) then I could see XMR breaking back into the 200s range again soon.
We are so far overdue for a level-up, that it should be a whopping big one. Again.
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Yes monero is the good investment still this project is active in the cryptomarket monero has good developers so the future of monero will be very bright there is no doubt currently the price of XMR is low and the cryptomarket situation is very bullish so holding is a good strategy.
I've been busy with other things, and apparently I missed this! Crypto to the MOON! unless it went to zero...
DCA is probably better than buy the dip because DCA is more basic in terms of NOT having to attempt to figure out if there is a dip or not.
Sure buy the dip can supplement DCA, but I don't like it as much as a primary BTC accumulating strategy, and sure the more aggressive that a person is with the DCA, then maybe the less funds that would be available for buying the dip, but there should be practical ways to attempt to accomplish both.
Overall, I agree. If you factor the current point in the apparent cycle, however, I think putting stronger emphasis on buying the dip (definitely for the last few months, probably continuing for the next few months?) in addition to your methodical DCA schedule will be more rewarding. If I was accumulating now, I think I'd keep the pressure on BTFD under 100k.
The dips are not looking very... Dippy. I was pretty sure we'd revisit ~44-45k at least, then resume rise. Can still happen, of course, but holding up with low volume so far. Evidence of plenty of BTFD action?
FFS dude, are you sure you should be linking an address with so many transactions publicly?
Think about your OPSEC.
I'm sure all that has gone through a KYC exchange and bank.
I guess he tried to point out that BTC adresses are resolvable and one could create a profile of pm1957's use of Bitcoin. Tracking adresses to businesses or individuals would be the simplest thing within the scope of that topic.
EDIT: And as soon as you have a single transaction successfully mapped to the receiving individual, you could do things like call the receiver and "hi, this is agent herold bloblobrob from the fbi. You were receiving bitcoins a couple of years ago that were stolen. Can you look up/remember this transaction and possibly identify who sent it? For the love of your country..."
If in 10 years time, bitcoin is $10m each, then the cash reserves of MSTR stored as bitcoin would probably form a majority of their market cap. At that price and if they don't get any more bitcoin, that puts the company hodling 1 trillion dollars worth of bitcoin.
There are several other companies that exceed this marketcap today. If those companies attempt to buy bitcoin, they can easily surpass MSTR.
Apple is 2 trillion. Microsoft is also 2 trillion. Google is 1.8 trillion. Amazon is 1.6 trillion. Facebook is 1 trillion. MSTR is about 6.8 billion, with almost two thousand other publicly traded companies larger than it by market cap. They were half that last year; I mean MSTR was 3 billion last year, this year they are 6.8 billion.
Facebook is going to launch it's own shitcoin, but it can, and probably will, also hold bitcoin in its balance sheet.
The question is, will MSTR maintain the lead and be number one with 100k bitcoins? Will other companies try to follow? There can be only 200 other companies that can possibly do this and stack 100k each.
This might be the most bullish thinking for me, if 2000 companies only buy 10k each, that would be the same result, more or less.
The total market cap of the top 5000 companies approaches 93 trillion dollars. They're not all going to buy bitcoin. But if half of that goes to bitcoin, we're looking at 2 million per whole coin. Markets don't work this way or linearly, so the actual effect could be much higher, which is why it's not too crazy today to think bitcoin can go up to 10 million to 50 million or even 100 million per coin.
We know the big banks (edit: I typed big bangs) are eventually going to buy some bitcoins, ... because they will be accepting them or offering custody services for them.
Probably a good description of them in the coming months/years...