Often I am asked: "I want to invest in a good crypto technology. What should I buy? I don't want to lose money on pump-and-dump. My answer: Take a look at technologies that offer a real understandable (simple) advantage. Monero is therefore a must-have for me. Why, I'll write below:
One of the biggest advantages for me in the crypto market in general and at Monero in particular is privacy. I see the "private" coins as long-term winners, especially XMR.
The private coins are not only value stores like BTC , they represent much more value due to their anonymity. I think a driver for the further growth of these coins is the increasing pressure from capital controls, currency weaknesses and global turbulences.
It is the fact: Digitalization goes deeper and deeper into our privacy. That makes alternative value storages more interesting than ever. Today, BTC can be tracked without any problems. This makes it impossible to shield assets via BTC . Monero is an alternative. Monero is programmed differently. The developers' goal is to create a payment that guarantees complete anonymity. At Monero, the development team created an entirely new blockchain. It is based on the CryptoNote protocol that makes these encryption technologies possible.
Monero focuses on highest anonymity and protection of privacy. Monero consciously focuses on the opposite of traceability and transparency. Monero is still unique in its form. The function: Sent and received public keys are bundled so that the addresses remain hidden. This makes an analysis of the corresponding blockchain almost impossible. The security depth is constantly being optimized.
Monero celebrated its fifth birthday yesterday, April 18. The first block was created on April 18, 2014.
Since then, Monero has built in many features that guarantee a high degree of security and non-traceability. For example, the hidden of the amount. And Monero does not link the account balance to users' public addresses. Dash, Zcash, GRIN and Co are more open. XMR has developed well since its introduction, both in terms of its popularity and its technical power. Monero continues to be one of the largest blockchain projects in terms of market capitalization. The XMR price is currently around USD 70. The price of XMR has recently started to rise significantly. It has risen by 51 percent in the last three months.
Announcing XMR's fifth anniversary, a Monero core team member said the project is focused to guarantee privacy. And... Privacy is a fundamental human right.
The project has continued to make technical progress lately. In the fall of 2018, Monero developers activated zero knowledge proofs in their blockchain. The development makes XMR transactions around 80 percent smaller and thus significantly cheaper. In combination with the activation of bulletproofs, the data protection functions of the blockchain are probably the most advanced in Cryptos.
Fungibility is the core of Monero's privacy. Just as Fiat notes of the same type are virtually indistinguishable, XMR coins are indistinguishable. Other currencies cannot.
XMR is faced with growing competition, as other currencies also rely on anonymity. But Monero is and remains the number one with five years of experience and advantage.
Fibo gives us the long-term goals here ...
- 0.236 (0.019 btc ) 50%
- 0.382 (0.031 btc ) 150%
- 0.5 (0.04 btc ) 220%
- 1 (0.079 btc ) 500%
- 1.618 (0.128 btc ) 900%
Let's see what happens. Happy trading. :-)