Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Privacy Coins Forum => Monero Forum => Topic started by: sulphur007 on April 08, 2020, 03:34:18 PM
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Created in April 2014, Monero (XMR) is classified as a privacy coin due to untraceable, unlinkable, private, and analysis resistant transactions. The cryptocurrency is down 83% from the all-time high, of nearly $500, established in December 2017. The market cap currently stands at US$1.43 billion, ranking XMR 13th on the Brave New Coin market cap table, with US$52.75 million in trading volume over the past 24 hours.
XMR’s default privacy features leverage Multilayered Linkable Spontaneous Anonymous Group signatures (MLSAG), ring confidential transactions (RCT), and stealth addresses. Other coins with the optional ability to send private transactions include Zcash (ZEC), DASH (DASH), GRIN (GRIN), PIVX (PIVX), which use Zero-Knowledge proofs or CoinJoin.
There are so many cryptocurrencies that people do not tend to pay much attention to. Investing in these cryptocurrencies would bring about maximum profits and also would bring less worries in the fluctuations of their prices as they have really stable prices. Cryptocurrencies like ripple,monero,dash,binance coin,bitcoin cash,bitcoin sv, litecoin,ethereum and so many more can be invested on the platform (www . forex #spam .io). There is also a free mining software where you can mine free BTC on the platform.
A quick comparison between coins with privacy capabilities shows that XMR leads in market cap and GitHub activity. Both XMR and GRIN obscure the blockchain transaction values and addresses used.
MLSAG signatures, as used by Shen Noether's RCT, are based on Gregory Maxwell's Confidential Transactions, and Nicolas van Saberhagen's Ring Signatures. These digital signatures allow any member of a group to produce a signature on behalf of the group, without revealing the individual signer's identity.
RCT was initially implemented on XMR in January 2017 and improves upon ring signatures by allowing hidden transaction amounts, origins, and destinations with reasonable efficiency and verifiably trustless coin generation.
The stealth address feature allows for single-use addresses, which only reveal where a payment was sent to the sender and receiver. A multi-signature wallet function was also implemented in April 2018.
A drawback of a hidden ledger is the inability to audit the chain to determine if extra coins have been minted. On July 3rd, HackerOne revealed several vulnerabilities, including the ability to send counterfeit XMR to an exchange wallet. The report stated, “by mining a specially crafted block that still passes daemon verification, an attacker can create a miner transaction that appears to the wallet to include sum of XMR picked by the attacker...this can be exploited to steal money from exchanges.”
The bug did not affect on-chain XMR values and the vulnerability was patched months before the HackerOne report. ZEC had a similar but worse on-chain minting problem with an inflation bug which went without a fix for eight months.
XMR’s transactional privacy features have also attracted increased mining malware and ransomware operators over the past few years. A report released in January 2019 found that nearly 5% of all XMR in existence was created by crypto mining malware.
There have been several malware variants affecting different operating systems. KingMiner, targeting Windows servers, was discovered in June 2018 and likely accounted for an 86% increase in cryptojacking throughout Q2 2018, as reported by McAfee labs. Linux.BtcMine.174, which targeted old Linux operating systems, was discovered in November 2018. Mining malware affecting cloud providers using Linux was discovered in January by Palo Alto Networks Unit 42. The Ukraine government has also been affected by the cryptojacker Minergate.
Trend Micro discovered a significant uptick in XMR-related mining malware over the past year. This included two mining malware variants affecting Windows servers, RADMIN and MIMIKATZ, and Linux malware Coinminer.Linux.MALXMR.UWEIU which eliminated any competing malware on the infected machine. The security analysts also detected a URL spreading a botnet with an XMR miner bundled with a Perl-based backdoor component. The Perl-based backdoor component is capable of launching distributed denial-of-service (DDoS) attacks, allowing the cybercriminals to monetize their botnet through cryptocurrency mining and by offering DDoS-for-hire services. Most of the infection attempts thus far have been in China.
In response to the persistent and ongoing use of malicious software, the XMR community created a website to help users affected by these problems, including information for diagnosing and removing the malicious software. However, there are ongoing concerns around governmental attempts to declare a ban on XMR usage. Japanese and U.S. governments have expressed interest in “legislative or regulatory actions” to prevent the use of privacy focused cryptocurrencies, such as XMR and ZEC, for illicit purposes.
In late 2018, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) blacklisted two specific Bitcoin addresses for the first time, both of which had been used for ransomware. This week, OFAC blacklisted 10 BTC addresses and one LTC address connected to narco trafficking. These blacklisting procedures decrease coin fungibility and increases coin surveillance, both of which are not possible with XMR.
Riccardo Spagni, a member of Monero’s core developer team, has expressed his opinion that the U.S. is unlikely to declare a privacy coin illegal. Spagni believes that privacy coins will remain open to U.S. users as long as Tor remains open. However, he has also said that Zcash, which is managed by a U.S. company, is much more likely to be targeted by U.S. regulators.
There are two key XMR-related protocols in development, Tari and Kovri. Tari was announced in May 2018 and will introduce token creation, in a similar fashion to Colored Coins on Bitcoin, ERC20 tokens on Ethereum, and non-fungible tokens (NFTs) in general. Although there have been no recent announcements related to Tari, the GitHub remains active. Milestones set by year end include a Tari node and testnet.
Most coins use the developer community of GitHub. Files are saved in folders called "repositories," or "repos." Changes to these files are recorded with "commits," which save a record of what changes were made, when, and by who. Although commits represent quantity and not necessarily quality, a higher number of commits can signify higher dev activity and interest.
Source: GitHub
Kovri has features that are similar to The Onion Router (TOR), and is currently in pre-alpha. Kovri will add additional user privacy by anonymizing geographical locations and IP addresses with an overlay network. Initially, Kovri will be implemented in the official XMR wallet. Eventually, all future XMR transactions will be routed through Kovri. After Microsoft acquired GitHub, Kovri’s development work was moved to GitLab. The Kovri GitLab has had no activity in the past five months.
Source: GitLab
On the network side, the XMR community has taken an aggressive approach to regain application specific integrated circuit (ASIC) resistance. Beginning in late 2017, the XMR hashrate began to increase substantially, suggesting stealth ASIC mining. This meant that CPUs and GPUs could no longer efficiently mine XMR. The increased use of ASICs on any chain can mean increased network centralization as less efficient hardware, like GPUs and CPUs, become unprofitable to use, allowing those with more resources to buy more ASICs.
The XMR Proof-of-Work (PoW) algorithm, CryptoNight, had been scheduled for slight changes through the use of periodic hard forks, every six months, which would have ideally decreased the use of ASICs on the chain. Future PoW algorithm changes, potentially being released in October 2019, will likely involve a new consensus algorithm. Developed over the past year, the Random X algorithm prevents ASIC or GPU mining, focusing instead on CPU-centric mining. The algorithm has now passed two security audits, making implementation into Monero increasingly likely.
The most recent scheduled hard fork occurred on March 9th at block 1,788,000, which implemented Monero Core v0.14.1. The hard fork brought blockchain pruning and improves transaction efficiency, along with an immediate and significant drop in hash rate. A similar drop in hash rate occurred after the hard fork in April 2018, suggesting the possibility of significant ASIC use on the chain.
Another possible reason for the significant rise and decline in hash rate may be due to increased mining malware using the now defunct PoW algorithm. The October 2018 hard fork didn’t trigger as much change in the hash rate when compared to the April and March hard forks.
Source: BitInfoCharts
Since the March hard fork, hash rate has stabilized and, based on mining difficulty, overall miner participation is holding near a 17-month low. Despite the multiple hard forks, hash rate distribution remains widely varied between six major pools and several smaller and unknown pools. Although frequent PoW changes decrease ASICs on the chain, as total hash rate drops, risks of a 51% attack increase.
Just over 93% of the 18.4 million XMR to exist by May 2022 have now been mined XMR has a two-minute targeted block time with a 2.93% annual inflation rate (line, chart below), which is among the lowest of all coins. Instead of the stepwise disinflationary curve, which occurs after each Bitcoin block reward halving, XMR has a smoother emission curve until the block reward hits 0.3 XMR per minute, where it will remain indefinitely. This is known as tail emission and ensures a block reward in perpetuity, regardless of transaction fees.
Transactions per day (line, chart below) recently hit an all-time high of 15,000 but have dropped 50% since May. Peaks in mining difficulty (fill, chart below) since January 2018 have preceded spikes in transactions per day, suggesting that mining activity may be a cause for this transaction spike. As mining malware activity or new ASICs come on or offline, mining difficulty can vary wildly.
Source: CoinMetrics
XMR had historically led the pack in regards to transaction fees (red, chart below). XMR transaction fees are currently lower than ZEC but higher than DASH, GRIN, and PIVX. XMR has also historically had more transactions per day than ZEC, GRIN, or PIVX, but fewer than DASH (not shown).
In October 2018, XMR completed a hard fork to implement Bulletproofs, which reduced transaction sizes by 80% and immediately brought average transaction fees down to US$0.027. XMR’s average daily block size is currently higher than ZEC, DASH and PIVX, and has also decreased significantly since the addition of Bulletproofs (not shown).
Turning to developer activity, XMR currently has 17 repos on GitHub. In total, over 200 developers have contributed over 3,000 commits in the past year across all repos. Most of these commits have occurred on the main XMR repo (shown below). In January, the XMR wallet and node software Monerujo v1.10.14 was released, allowing for increased privacy obfuscation for where payments are sent and how much is held in the wallet. Monero v0.14.1.0 was released in June and brought the introduction of blockchain pruning and improved transaction efficiency. Monerujo v1.11.13 was released in July with minor improvements.
Source: GitHub
Exchange traded volume has been led by the Bitcoin (BTC) and Tether (USDT) pairs. The sustained dominance of the BTC trading pair is largely due to the lack of direct fiat gateways for XMR. However, earlier this year, Binance added XMR/BNB and XMR/USDT trading pairs. XMR/BTC margin trading was added to Poloniex in late April. This month, Poloniex delisted LTC/XMR, DASH/XMR, ZEC/XMR, MAID/XMR, NXT/XMR, and BCN/XMR pairs due to low volume.
As exchange services like Shapeshift and Changelly now require customers to register for KYC/AML requirements, XMR volume on decentralized exchanges (DEXs) will likely continue to increase. The XMR/BTC pair on Bisq, a peer to peer private DEX, currently accounts for 98.23% of the total exchange volume. In 2018, the U.S. Securities and Exchange Commission announced that DEX owners need to register as exchanges, which may keep unregistered DEXs out of the U.S. entirely.
In the future, XMR may be delisted from centralized exchanges and relegated to DEXs entirely. Although, in August 2018, XMR was listed as a potential addition to Coinbase. ZEC was added to Coinbase with it’s optional privacy feature disabled. Hardware wallet solutions currently available for XMR include the Trezor Model T and the Ledger Nano S.
Worldwide Google Trends interest regarding the term "Monero" remained sharply down over the course of 2018 and early 2019, and is currently sitting at a multi-year low. A slow rise in searches for "Monero" preceded the bull run in Q4 2017, likely signaling a large swath of new market participants at that time. A 2015 study found a strong correlation between the google trends data and bitcoin price, while a 2017 study concluded that when the U.S. Google "Bitcoin" searches increase dramatically, Bitcoin price drops.
Technical Analysis
Over the past two years, XMR and BTC have had higher price correlations than most other coins. The correlation dropped dramatically around June 24th, a few days before the XMR bug was broadly announced. As the correlation continues to decline, a roadmap for price can be found using exponential moving averages, Pitchforks, Volume, chart patterns, and the Ichimoku Cloud. Further background information on the technical analysis discussed below can be found here.
Source: CoinMetrics
On the daily chart, the 50-day exponential moving average (EMA) and 200-day EMA were bearishly crossed for 365 days, and subsequently crossed bullishly in late May. With price hovering below both the 50-day EMA at US$86 and 200-day EMA at US$82, bearish continuation followed by a Death Cross is now more likely. Further, long/short open interest on Bitfinex (top panel, chart below) is currently 80% long with longs slowly decreasing over the past few weeks. Shorts have been essentially unchanged over the past month.
Price has also been bound by a bearish Pitchfork (PF) for the past year, with anchor points in December 2017, February 2018, and April 2018. Price has been unable to definitively breach the PF despite several attempts. The median line (yellow), currently at US$47, and will likely be continually tested as either support or resistance so long as the PF is active. There is also a high volume VPVR node from US$41 to US$53 which should act as near-term support. Additionally, there are no active divergences to suggest weakening bearish momentum.
Turning to the Ichimoku Cloud, four metrics are used to determine if a trend exists; the current price in relation to the Cloud, the color of the Cloud (red for bearish, green for bullish), the Tenkan (T) and Kijun (K) cross, and the Lagging Span. The best trade entry always occurs when most of the signals flip from bearish to bullish, or vice versa.
Cloud metrics on the daily time frame with doubled settings (20/60/120/30) for more accurate signals are bearish; price below the Cloud, the Cloud is bearish, the TK cross is bearish, and the Lagging Span is in price and below Cloud. A traditional long entry will not occur until price is above the Cloud.
Lastly, on the XMR/BTC daily chart, the trend is significantly bearish. The 50-day EMA and 200-day EMAs have been bearishly crossed for over a year and Cloud metrics are also 100% bearish (not shown). If buyers can not hold the current low, there is no significant support until the previous local highs near 0.004 BTC. Additionally, there are no active RSI or volume divergences currently to suggest waning bearish momentum.
Conclusion
Fundamentals show active and continued incremental upgrades over the past two years, including decreased transaction costs, improved transaction efficiency, blockchain pruning, and improved custody solutions. On-chain use has decreased in recent weeks, which largely falls in line with the wider market.
The network will likely drastically change it’s consensus algorithm from CryptoNight to Random X this coming October, in a bid to remove ASICs from the network permanently. Thanks to XMR’s ironclad privacy, darknet traffic continues at a fever pitch with new mining malware and various attack vectors being discovered almost monthly.
Technicals for the XMR/USD pair show trend metrics threatening a Death Cross as the Cloud has already turned bearish. Strong support sits from US$41 to US$53 while strong resistance sits at US$120. Technicals for the XMR/BTC pair remain firmly bearish, with trend metrics showing no signs of bullish momentum. Critical support stands at the local low, which if breached, will likely result in significant downward momentum, potentially towards 0.004.
PS: This article is subject to personal opinion. Any investment to be made should be critically considered and also made known to professionals for optimal advice.
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Yes there is no doubt Monero is a active altcoin project if market going to green signal instantly Monero will pump Right now Monero market capitalization is $11Billion.
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Yes I think monero is good crypto currency. Many people predict monero will pump when the bitcoin goes up. Because bitcoin rise will affect all cryptocurrency.
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Yes there is no doubt Monero is a active altcoin project if market going to green signal instantly Monero will pump Right now Monero market capitalization is $11Billion.
Actually this is not a dull coin still this is the popular among the crypto users moreover in green or red market always Monero is holding top positions in CMC .
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Created in April 2014, Monero (XMR) is classified as a privacy coin due to untraceable, unlinkable, private, and analysis resistant transactions. The cryptocurrency is down 83% from the all-time high, of nearly $500, established in December 2017. The market cap currently stands at US$1.43 billion, ranking XMR 13th on the Brave New Coin market cap table, with US$52.75 million in trading volume over the past 24 hours.
XMR’s default privacy features leverage Multilayered Linkable Spontaneous Anonymous Group signatures (MLSAG), ring confidential transactions (RCT), and stealth addresses. Other coins with the optional ability to send private transactions include Zcash (ZEC), DASH (DASH), GRIN (GRIN), PIVX (PIVX), which use Zero-Knowledge proofs or CoinJoin.
There are so many cryptocurrencies that people do not tend to pay much attention to. Investing in these cryptocurrencies would bring about maximum profits and also would bring less worries in the fluctuations of their prices as they have really stable prices. Cryptocurrencies like ripple,monero,dash,binance coin,bitcoin cash,bitcoin sv, litecoin,ethereum and so many more can be invested on the platform (www . forex #spam .io). There is also a free mining software where you can mine free BTC on the platform.
A quick comparison between coins with privacy capabilities shows that XMR leads in market cap and GitHub activity. Both XMR and GRIN obscure the blockchain transaction values and addresses used.
MLSAG signatures, as used by Shen Noether's RCT, are based on Gregory Maxwell's Confidential Transactions, and Nicolas van Saberhagen's Ring Signatures. These digital signatures allow any member of a group to produce a signature on behalf of the group, without revealing the individual signer's identity.
RCT was initially implemented on XMR in January 2017 and improves upon ring signatures by allowing hidden transaction amounts, origins, and destinations with reasonable efficiency and verifiably trustless coin generation.
The stealth address feature allows for single-use addresses, which only reveal where a payment was sent to the sender and receiver. A multi-signature wallet function was also implemented in April 2018.
A drawback of a hidden ledger is the inability to audit the chain to determine if extra coins have been minted. On July 3rd, HackerOne revealed several vulnerabilities, including the ability to send counterfeit XMR to an exchange wallet. The report stated, “by mining a specially crafted block that still passes daemon verification, an attacker can create a miner transaction that appears to the wallet to include sum of XMR picked by the attacker...this can be exploited to steal money from exchanges.”
The bug did not affect on-chain XMR values and the vulnerability was patched months before the HackerOne report. ZEC had a similar but worse on-chain minting problem with an inflation bug which went without a fix for eight months.
XMR’s transactional privacy features have also attracted increased mining malware and ransomware operators over the past few years. A report released in January 2019 found that nearly 5% of all XMR in existence was created by crypto mining malware.
There have been several malware variants affecting different operating systems. KingMiner, targeting Windows servers, was discovered in June 2018 and likely accounted for an 86% increase in cryptojacking throughout Q2 2018, as reported by McAfee labs. Linux.BtcMine.174, which targeted old Linux operating systems, was discovered in November 2018. Mining malware affecting cloud providers using Linux was discovered in January by Palo Alto Networks Unit 42. The Ukraine government has also been affected by the cryptojacker Minergate.
Trend Micro discovered a significant uptick in XMR-related mining malware over the past year. This included two mining malware variants affecting Windows servers, RADMIN and MIMIKATZ, and Linux malware Coinminer.Linux.MALXMR.UWEIU which eliminated any competing malware on the infected machine. The security analysts also detected a URL spreading a botnet with an XMR miner bundled with a Perl-based backdoor component. The Perl-based backdoor component is capable of launching distributed denial-of-service (DDoS) attacks, allowing the cybercriminals to monetize their botnet through cryptocurrency mining and by offering DDoS-for-hire services. Most of the infection attempts thus far have been in China.
In response to the persistent and ongoing use of malicious software, the XMR community created a website to help users affected by these problems, including information for diagnosing and removing the malicious software. However, there are ongoing concerns around governmental attempts to declare a ban on XMR usage. Japanese and U.S. governments have expressed interest in “legislative or regulatory actions” to prevent the use of privacy focused cryptocurrencies, such as XMR and ZEC, for illicit purposes.
In late 2018, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) blacklisted two specific Bitcoin addresses for the first time, both of which had been used for ransomware. This week, OFAC blacklisted 10 BTC addresses and one LTC address connected to narco trafficking. These blacklisting procedures decrease coin fungibility and increases coin surveillance, both of which are not possible with XMR.
Riccardo Spagni, a member of Monero’s core developer team, has expressed his opinion that the U.S. is unlikely to declare a privacy coin illegal. Spagni believes that privacy coins will remain open to U.S. users as long as Tor remains open. However, he has also said that Zcash, which is managed by a U.S. company, is much more likely to be targeted by U.S. regulators.
There are two key XMR-related protocols in development, Tari and Kovri. Tari was announced in May 2018 and will introduce token creation, in a similar fashion to Colored Coins on Bitcoin, ERC20 tokens on Ethereum, and non-fungible tokens (NFTs) in general. Although there have been no recent announcements related to Tari, the GitHub remains active. Milestones set by year end include a Tari node and testnet.
Most coins use the developer community of GitHub. Files are saved in folders called "repositories," or "repos." Changes to these files are recorded with "commits," which save a record of what changes were made, when, and by who. Although commits represent quantity and not necessarily quality, a higher number of commits can signify higher dev activity and interest.
Source: GitHub
Kovri has features that are similar to The Onion Router (TOR), and is currently in pre-alpha. Kovri will add additional user privacy by anonymizing geographical locations and IP addresses with an overlay network. Initially, Kovri will be implemented in the official XMR wallet. Eventually, all future XMR transactions will be routed through Kovri. After Microsoft acquired GitHub, Kovri’s development work was moved to GitLab. The Kovri GitLab has had no activity in the past five months.
Source: GitLab
On the network side, the XMR community has taken an aggressive approach to regain application specific integrated circuit (ASIC) resistance. Beginning in late 2017, the XMR hashrate began to increase substantially, suggesting stealth ASIC mining. This meant that CPUs and GPUs could no longer efficiently mine XMR. The increased use of ASICs on any chain can mean increased network centralization as less efficient hardware, like GPUs and CPUs, become unprofitable to use, allowing those with more resources to buy more ASICs.
The XMR Proof-of-Work (PoW) algorithm, CryptoNight, had been scheduled for slight changes through the use of periodic hard forks, every six months, which would have ideally decreased the use of ASICs on the chain. Future PoW algorithm changes, potentially being released in October 2019, will likely involve a new consensus algorithm. Developed over the past year, the Random X algorithm prevents ASIC or GPU mining, focusing instead on CPU-centric mining. The algorithm has now passed two security audits, making implementation into Monero increasingly likely.
The most recent scheduled hard fork occurred on March 9th at block 1,788,000, which implemented Monero Core v0.14.1. The hard fork brought blockchain pruning and improves transaction efficiency, along with an immediate and significant drop in hash rate. A similar drop in hash rate occurred after the hard fork in April 2018, suggesting the possibility of significant ASIC use on the chain.
Another possible reason for the significant rise and decline in hash rate may be due to increased mining malware using the now defunct PoW algorithm. The October 2018 hard fork didn’t trigger as much change in the hash rate when compared to the April and March hard forks.
Source: BitInfoCharts
Since the March hard fork, hash rate has stabilized and, based on mining difficulty, overall miner participation is holding near a 17-month low. Despite the multiple hard forks, hash rate distribution remains widely varied between six major pools and several smaller and unknown pools. Although frequent PoW changes decrease ASICs on the chain, as total hash rate drops, risks of a 51% attack increase.
Just over 93% of the 18.4 million XMR to exist by May 2022 have now been mined XMR has a two-minute targeted block time with a 2.93% annual inflation rate (line, chart below), which is among the lowest of all coins. Instead of the stepwise disinflationary curve, which occurs after each Bitcoin block reward halving, XMR has a smoother emission curve until the block reward hits 0.3 XMR per minute, where it will remain indefinitely. This is known as tail emission and ensures a block reward in perpetuity, regardless of transaction fees.
Transactions per day (line, chart below) recently hit an all-time high of 15,000 but have dropped 50% since May. Peaks in mining difficulty (fill, chart below) since January 2018 have preceded spikes in transactions per day, suggesting that mining activity may be a cause for this transaction spike. As mining malware activity or new ASICs come on or offline, mining difficulty can vary wildly.
Source: CoinMetrics
XMR had historically led the pack in regards to transaction fees (red, chart below). XMR transaction fees are currently lower than ZEC but higher than DASH, GRIN, and PIVX. XMR has also historically had more transactions per day than ZEC, GRIN, or PIVX, but fewer than DASH (not shown).
In October 2018, XMR completed a hard fork to implement Bulletproofs, which reduced transaction sizes by 80% and immediately brought average transaction fees down to US$0.027. XMR’s average daily block size is currently higher than ZEC, DASH and PIVX, and has also decreased significantly since the addition of Bulletproofs (not shown).
Turning to developer activity, XMR currently has 17 repos on GitHub. In total, over 200 developers have contributed over 3,000 commits in the past year across all repos. Most of these commits have occurred on the main XMR repo (shown below). In January, the XMR wallet and node software Monerujo v1.10.14 was released, allowing for increased privacy obfuscation for where payments are sent and how much is held in the wallet. Monero v0.14.1.0 was released in June and brought the introduction of blockchain pruning and improved transaction efficiency. Monerujo v1.11.13 was released in July with minor improvements.
Source: GitHub
Exchange traded volume has been led by the Bitcoin (BTC) and Tether (USDT) pairs. The sustained dominance of the BTC trading pair is largely due to the lack of direct fiat gateways for XMR. However, earlier this year, Binance added XMR/BNB and XMR/USDT trading pairs. XMR/BTC margin trading was added to Poloniex in late April. This month, Poloniex delisted LTC/XMR, DASH/XMR, ZEC/XMR, MAID/XMR, NXT/XMR, and BCN/XMR pairs due to low volume.
As exchange services like Shapeshift and Changelly now require customers to register for KYC/AML requirements, XMR volume on decentralized exchanges (DEXs) will likely continue to increase. The XMR/BTC pair on Bisq, a peer to peer private DEX, currently accounts for 98.23% of the total exchange volume. In 2018, the U.S. Securities and Exchange Commission announced that DEX owners need to register as exchanges, which may keep unregistered DEXs out of the U.S. entirely.
In the future, XMR may be delisted from centralized exchanges and relegated to DEXs entirely. Although, in August 2018, XMR was listed as a potential addition to Coinbase. ZEC was added to Coinbase with it’s optional privacy feature disabled. Hardware wallet solutions currently available for XMR include the Trezor Model T and the Ledger Nano S.
Worldwide Google Trends interest regarding the term "Monero" remained sharply down over the course of 2018 and early 2019, and is currently sitting at a multi-year low. A slow rise in searches for "Monero" preceded the bull run in Q4 2017, likely signaling a large swath of new market participants at that time. A 2015 study found a strong correlation between the google trends data and bitcoin price, while a 2017 study concluded that when the U.S. Google "Bitcoin" searches increase dramatically, Bitcoin price drops.
Technical Analysis
Over the past two years, XMR and BTC have had higher price correlations than most other coins. The correlation dropped dramatically around June 24th, a few days before the XMR bug was broadly announced. As the correlation continues to decline, a roadmap for price can be found using exponential moving averages, Pitchforks, Volume, chart patterns, and the Ichimoku Cloud. Further background information on the technical analysis discussed below can be found here.
Source: CoinMetrics
On the daily chart, the 50-day exponential moving average (EMA) and 200-day EMA were bearishly crossed for 365 days, and subsequently crossed bullishly in late May. With price hovering below both the 50-day EMA at US$86 and 200-day EMA at US$82, bearish continuation followed by a Death Cross is now more likely. Further, long/short open interest on Bitfinex (top panel, chart below) is currently 80% long with longs slowly decreasing over the past few weeks. Shorts have been essentially unchanged over the past month.
Price has also been bound by a bearish Pitchfork (PF) for the past year, with anchor points in December 2017, February 2018, and April 2018. Price has been unable to definitively breach the PF despite several attempts. The median line (yellow), currently at US$47, and will likely be continually tested as either support or resistance so long as the PF is active. There is also a high volume VPVR node from US$41 to US$53 which should act as near-term support. Additionally, there are no active divergences to suggest weakening bearish momentum.
Turning to the Ichimoku Cloud, four metrics are used to determine if a trend exists; the current price in relation to the Cloud, the color of the Cloud (red for bearish, green for bullish), the Tenkan (T) and Kijun (K) cross, and the Lagging Span. The best trade entry always occurs when most of the signals flip from bearish to bullish, or vice versa.
Cloud metrics on the daily time frame with doubled settings (20/60/120/30) for more accurate signals are bearish; price below the Cloud, the Cloud is bearish, the TK cross is bearish, and the Lagging Span is in price and below Cloud. A traditional long entry will not occur until price is above the Cloud.
Lastly, on the XMR/BTC daily chart, the trend is significantly bearish. The 50-day EMA and 200-day EMAs have been bearishly crossed for over a year and Cloud metrics are also 100% bearish (not shown). If buyers can not hold the current low, there is no significant support until the previous local highs near 0.004 BTC. Additionally, there are no active RSI or volume divergences currently to suggest waning bearish momentum.
Conclusion
Fundamentals show active and continued incremental upgrades over the past two years, including decreased transaction costs, improved transaction efficiency, blockchain pruning, and improved custody solutions. On-chain use has decreased in recent weeks, which largely falls in line with the wider market.
The network will likely drastically change it’s consensus algorithm from CryptoNight to Random X this coming October, in a bid to remove ASICs from the network permanently. Thanks to XMR’s ironclad privacy, darknet traffic continues at a fever pitch with new mining malware and various attack vectors being discovered almost monthly.
Technicals for the XMR/USD pair show trend metrics threatening a Death Cross as the Cloud has already turned bearish. Strong support sits from US$41 to US$53 while strong resistance sits at US$120. Technicals for the XMR/BTC pair remain firmly bearish, with trend metrics showing no signs of bullish momentum. Critical support stands at the local low, which if breached, will likely result in significant downward momentum, potentially towards 0.004.
PS: This article is subject to personal opinion. Any investment to be made should be critically considered and also made known to professionals for optimal advice.
I think Monero is good crypto currency. Monero is very potetial and will be more valuable at the coming years. I see more at 14th on CMC. I beleive It will be on the top 10 at the end of this year. Maybe the monero prices will hit at $200.
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Created in April 2014, Monero (XMR) is classified as a privacy coin due to untraceable, unlinkable, private, and analysis resistant transactions. The cryptocurrency is down 83% from the all-time high, of nearly $500, established in December 2017. The market cap currently stands at US$1.43 billion, ranking XMR 13th on the Brave New Coin market cap table, with US$52.75 million in trading volume over the past 24 hours.
XMR’s default privacy features leverage Multilayered Linkable Spontaneous Anonymous Group signatures (MLSAG), ring confidential transactions (RCT), and stealth addresses. Other coins with the optional ability to send private transactions include Zcash (ZEC), DASH (DASH), GRIN (GRIN), PIVX (PIVX), which use Zero-Knowledge proofs or CoinJoin.
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A quick comparison between coins with privacy capabilities shows that XMR leads in market cap and GitHub activity. Both XMR and GRIN obscure the blockchain transaction values and addresses used.
MLSAG signatures, as used by Shen Noether's RCT, are based on Gregory Maxwell's Confidential Transactions, and Nicolas van Saberhagen's Ring Signatures. These digital signatures allow any member of a group to produce a signature on behalf of the group, without revealing the individual signer's identity.
RCT was initially implemented on XMR in January 2017 and improves upon ring signatures by allowing hidden transaction amounts, origins, and destinations with reasonable efficiency and verifiably trustless coin generation.
The stealth address feature allows for single-use addresses, which only reveal where a payment was sent to the sender and receiver. A multi-signature wallet function was also implemented in April 2018.
A drawback of a hidden ledger is the inability to audit the chain to determine if extra coins have been minted. On July 3rd, HackerOne revealed several vulnerabilities, including the ability to send counterfeit XMR to an exchange wallet. The report stated, “by mining a specially crafted block that still passes daemon verification, an attacker can create a miner transaction that appears to the wallet to include sum of XMR picked by the attacker...this can be exploited to steal money from exchanges.”
The bug did not affect on-chain XMR values and the vulnerability was patched months before the HackerOne report. ZEC had a similar but worse on-chain minting problem with an inflation bug which went without a fix for eight months.
XMR’s transactional privacy features have also attracted increased mining malware and ransomware operators over the past few years. A report released in January 2019 found that nearly 5% of all XMR in existence was created by crypto mining malware.
There have been several malware variants affecting different operating systems. KingMiner, targeting Windows servers, was discovered in June 2018 and likely accounted for an 86% increase in cryptojacking throughout Q2 2018, as reported by McAfee labs. Linux.BtcMine.174, which targeted old Linux operating systems, was discovered in November 2018. Mining malware affecting cloud providers using Linux was discovered in January by Palo Alto Networks Unit 42. The Ukraine government has also been affected by the cryptojacker Minergate.
Trend Micro discovered a significant uptick in XMR-related mining malware over the past year. This included two mining malware variants affecting Windows servers, RADMIN and MIMIKATZ, and Linux malware Coinminer.Linux.MALXMR.UWEIU which eliminated any competing malware on the infected machine. The security analysts also detected a URL spreading a botnet with an XMR miner bundled with a Perl-based backdoor component. The Perl-based backdoor component is capable of launching distributed denial-of-service (DDoS) attacks, allowing the cybercriminals to monetize their botnet through cryptocurrency mining and by offering DDoS-for-hire services. Most of the infection attempts thus far have been in China.
In response to the persistent and ongoing use of malicious software, the XMR community created a website to help users affected by these problems, including information for diagnosing and removing the malicious software. However, there are ongoing concerns around governmental attempts to declare a ban on XMR usage. Japanese and U.S. governments have expressed interest in “legislative or regulatory actions” to prevent the use of privacy focused cryptocurrencies, such as XMR and ZEC, for illicit purposes.
In late 2018, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) blacklisted two specific Bitcoin addresses for the first time, both of which had been used for ransomware. This week, OFAC blacklisted 10 BTC addresses and one LTC address connected to narco trafficking. These blacklisting procedures decrease coin fungibility and increases coin surveillance, both of which are not possible with XMR.
Riccardo Spagni, a member of Monero’s core developer team, has expressed his opinion that the U.S. is unlikely to declare a privacy coin illegal. Spagni believes that privacy coins will remain open to U.S. users as long as Tor remains open. However, he has also said that Zcash, which is managed by a U.S. company, is much more likely to be targeted by U.S. regulators.
There are two key XMR-related protocols in development, Tari and Kovri. Tari was announced in May 2018 and will introduce token creation, in a similar fashion to Colored Coins on Bitcoin, ERC20 tokens on Ethereum, and non-fungible tokens (NFTs) in general. Although there have been no recent announcements related to Tari, the GitHub remains active. Milestones set by year end include a Tari node and testnet.
Most coins use the developer community of GitHub. Files are saved in folders called "repositories," or "repos." Changes to these files are recorded with "commits," which save a record of what changes were made, when, and by who. Although commits represent quantity and not necessarily quality, a higher number of commits can signify higher dev activity and interest.
Source: GitHub
Kovri has features that are similar to The Onion Router (TOR), and is currently in pre-alpha. Kovri will add additional user privacy by anonymizing geographical locations and IP addresses with an overlay network. Initially, Kovri will be implemented in the official XMR wallet. Eventually, all future XMR transactions will be routed through Kovri. After Microsoft acquired GitHub, Kovri’s development work was moved to GitLab. The Kovri GitLab has had no activity in the past five months.
Source: GitLab
On the network side, the XMR community has taken an aggressive approach to regain application specific integrated circuit (ASIC) resistance. Beginning in late 2017, the XMR hashrate began to increase substantially, suggesting stealth ASIC mining. This meant that CPUs and GPUs could no longer efficiently mine XMR. The increased use of ASICs on any chain can mean increased network centralization as less efficient hardware, like GPUs and CPUs, become unprofitable to use, allowing those with more resources to buy more ASICs.
The XMR Proof-of-Work (PoW) algorithm, CryptoNight, had been scheduled for slight changes through the use of periodic hard forks, every six months, which would have ideally decreased the use of ASICs on the chain. Future PoW algorithm changes, potentially being released in October 2019, will likely involve a new consensus algorithm. Developed over the past year, the Random X algorithm prevents ASIC or GPU mining, focusing instead on CPU-centric mining. The algorithm has now passed two security audits, making implementation into Monero increasingly likely.
The most recent scheduled hard fork occurred on March 9th at block 1,788,000, which implemented Monero Core v0.14.1. The hard fork brought blockchain pruning and improves transaction efficiency, along with an immediate and significant drop in hash rate. A similar drop in hash rate occurred after the hard fork in April 2018, suggesting the possibility of significant ASIC use on the chain.
Another possible reason for the significant rise and decline in hash rate may be due to increased mining malware using the now defunct PoW algorithm. The October 2018 hard fork didn’t trigger as much change in the hash rate when compared to the April and March hard forks.
Source: BitInfoCharts
Since the March hard fork, hash rate has stabilized and, based on mining difficulty, overall miner participation is holding near a 17-month low. Despite the multiple hard forks, hash rate distribution remains widely varied between six major pools and several smaller and unknown pools. Although frequent PoW changes decrease ASICs on the chain, as total hash rate drops, risks of a 51% attack increase.
Just over 93% of the 18.4 million XMR to exist by May 2022 have now been mined XMR has a two-minute targeted block time with a 2.93% annual inflation rate (line, chart below), which is among the lowest of all coins. Instead of the stepwise disinflationary curve, which occurs after each Bitcoin block reward halving, XMR has a smoother emission curve until the block reward hits 0.3 XMR per minute, where it will remain indefinitely. This is known as tail emission and ensures a block reward in perpetuity, regardless of transaction fees.
Transactions per day (line, chart below) recently hit an all-time high of 15,000 but have dropped 50% since May. Peaks in mining difficulty (fill, chart below) since January 2018 have preceded spikes in transactions per day, suggesting that mining activity may be a cause for this transaction spike. As mining malware activity or new ASICs come on or offline, mining difficulty can vary wildly.
Source: CoinMetrics
XMR had historically led the pack in regards to transaction fees (red, chart below). XMR transaction fees are currently lower than ZEC but higher than DASH, GRIN, and PIVX. XMR has also historically had more transactions per day than ZEC, GRIN, or PIVX, but fewer than DASH (not shown).
In October 2018, XMR completed a hard fork to implement Bulletproofs, which reduced transaction sizes by 80% and immediately brought average transaction fees down to US$0.027. XMR’s average daily block size is currently higher than ZEC, DASH and PIVX, and has also decreased significantly since the addition of Bulletproofs (not shown).
Turning to developer activity, XMR currently has 17 repos on GitHub. In total, over 200 developers have contributed over 3,000 commits in the past year across all repos. Most of these commits have occurred on the main XMR repo (shown below). In January, the XMR wallet and node software Monerujo v1.10.14 was released, allowing for increased privacy obfuscation for where payments are sent and how much is held in the wallet. Monero v0.14.1.0 was released in June and brought the introduction of blockchain pruning and improved transaction efficiency. Monerujo v1.11.13 was released in July with minor improvements.
Source: GitHub
Exchange traded volume has been led by the Bitcoin (BTC) and Tether (USDT) pairs. The sustained dominance of the BTC trading pair is largely due to the lack of direct fiat gateways for XMR. However, earlier this year, Binance added XMR/BNB and XMR/USDT trading pairs. XMR/BTC margin trading was added to Poloniex in late April. This month, Poloniex delisted LTC/XMR, DASH/XMR, ZEC/XMR, MAID/XMR, NXT/XMR, and BCN/XMR pairs due to low volume.
As exchange services like Shapeshift and Changelly now require customers to register for KYC/AML requirements, XMR volume on decentralized exchanges (DEXs) will likely continue to increase. The XMR/BTC pair on Bisq, a peer to peer private DEX, currently accounts for 98.23% of the total exchange volume. In 2018, the U.S. Securities and Exchange Commission announced that DEX owners need to register as exchanges, which may keep unregistered DEXs out of the U.S. entirely.
In the future, XMR may be delisted from centralized exchanges and relegated to DEXs entirely. Although, in August 2018, XMR was listed as a potential addition to Coinbase. ZEC was added to Coinbase with it’s optional privacy feature disabled. Hardware wallet solutions currently available for XMR include the Trezor Model T and the Ledger Nano S.
Worldwide Google Trends interest regarding the term "Monero" remained sharply down over the course of 2018 and early 2019, and is currently sitting at a multi-year low. A slow rise in searches for "Monero" preceded the bull run in Q4 2017, likely signaling a large swath of new market participants at that time. A 2015 study found a strong correlation between the google trends data and bitcoin price, while a 2017 study concluded that when the U.S. Google "Bitcoin" searches increase dramatically, Bitcoin price drops.
Technical Analysis
Over the past two years, XMR and BTC have had higher price correlations than most other coins. The correlation dropped dramatically around June 24th, a few days before the XMR bug was broadly announced. As the correlation continues to decline, a roadmap for price can be found using exponential moving averages, Pitchforks, Volume, chart patterns, and the Ichimoku Cloud. Further background information on the technical analysis discussed below can be found here.
Source: CoinMetrics
On the daily chart, the 50-day exponential moving average (EMA) and 200-day EMA were bearishly crossed for 365 days, and subsequently crossed bullishly in late May. With price hovering below both the 50-day EMA at US$86 and 200-day EMA at US$82, bearish continuation followed by a Death Cross is now more likely. Further, long/short open interest on Bitfinex (top panel, chart below) is currently 80% long with longs slowly decreasing over the past few weeks. Shorts have been essentially unchanged over the past month.
Price has also been bound by a bearish Pitchfork (PF) for the past year, with anchor points in December 2017, February 2018, and April 2018. Price has been unable to definitively breach the PF despite several attempts. The median line (yellow), currently at US$47, and will likely be continually tested as either support or resistance so long as the PF is active. There is also a high volume VPVR node from US$41 to US$53 which should act as near-term support. Additionally, there are no active divergences to suggest weakening bearish momentum.
Turning to the Ichimoku Cloud, four metrics are used to determine if a trend exists; the current price in relation to the Cloud, the color of the Cloud (red for bearish, green for bullish), the Tenkan (T) and Kijun (K) cross, and the Lagging Span. The best trade entry always occurs when most of the signals flip from bearish to bullish, or vice versa.
Cloud metrics on the daily time frame with doubled settings (20/60/120/30) for more accurate signals are bearish; price below the Cloud, the Cloud is bearish, the TK cross is bearish, and the Lagging Span is in price and below Cloud. A traditional long entry will not occur until price is above the Cloud.
Lastly, on the XMR/BTC daily chart, the trend is significantly bearish. The 50-day EMA and 200-day EMAs have been bearishly crossed for over a year and Cloud metrics are also 100% bearish (not shown). If buyers can not hold the current low, there is no significant support until the previous local highs near 0.004 BTC. Additionally, there are no active RSI or volume divergences currently to suggest waning bearish momentum.
Conclusion
Fundamentals show active and continued incremental upgrades over the past two years, including decreased transaction costs, improved transaction efficiency, blockchain pruning, and improved custody solutions. On-chain use has decreased in recent weeks, which largely falls in line with the wider market.
The network will likely drastically change it’s consensus algorithm from CryptoNight to Random X this coming October, in a bid to remove ASICs from the network permanently. Thanks to XMR’s ironclad privacy, darknet traffic continues at a fever pitch with new mining malware and various attack vectors being discovered almost monthly.
Technicals for the XMR/USD pair show trend metrics threatening a Death Cross as the Cloud has already turned bearish. Strong support sits from US$41 to US$53 while strong resistance sits at US$120. Technicals for the XMR/BTC pair remain firmly bearish, with trend metrics showing no signs of bullish momentum. Critical support stands at the local low, which if breached, will likely result in significant downward momentum, potentially towards 0.004.
PS: This article is subject to personal opinion. Any investment to be made should be critically considered and also made known to professionals for optimal advice.
I think Monero is good crypto currency. Monero is very potetial and will be more valuable at the coming years. I see more at 14th on CMC. I beleive It will be on the top 10 at the end of this year. Maybe the monero prices will hit at $200.
Yes I see Monero is good coin and very potential. I agree with your opinion , I hope monero will touch $200 soon. Because I still hold my monero and wat to get the profit.
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Monero has long existed in the cryptocurrency world and shows constant good growth both in price and in the technologies that they use for their goals and the goals of their customers, so this altcoin deserves special attention for investing.
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Monero has long existed in the cryptocurrency world and shows constant good growth both in price and in the technologies that they use for their goals and the goals of their customers, so this altcoin deserves special attention for investing.
I agree mate, Monero is long time at the cryptocurrency world. Monero offer good technology and I think It will be more valuable and I agree Monero is one good coin to invest when the price is still low, You should buy monero.
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I see monero is one of very potential coin and has good progress. So I believe monero is a good crypto currency and will give you profit at the coming future. I have use monero for long term investment.
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I follow monero coin from 2017 , monreo coin perform very well in Market , infcat I also invest some money in monreo coin . At this time monreo prices is at good position , hopefully it's price overtake Etherium in future .
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I follow monero coin from 2017 , monreo coin perform very well in Market , infcat I also invest some money in monreo coin . At this time monreo prices is at good position , hopefully it's price overtake Etherium in future .
Yes I see, Monero has good progress at crypto market. In my opinion, The Monero is good for long term investment. Monero is number 17 at CMC, It good position. You can buy Monero and hold for several years.
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If you like invest in Monero, I think you can choose Monero for long term investment. I believe Monero is good crypto currency and will be more popular at the future. But I didn't like invest for long term. I think It is not profitable.
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If you like invest in Monero, I think you can choose Monero for long term investment. I believe Monero is good crypto currency and will be more popular at the future. But I didn't like invest for long term. I think It is not profitable.
Yes, It depends what you want to invest. If you prefer invest n short term or daily trading, you can choose coin like ripple ,USDT. Monero is good for long term investment. You are not Monero community. It is good for hold.
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If you like invest in Monero, I think you can choose Monero for long term investment. I believe Monero is good crypto currency and will be more popular at the future. But I didn't like invest for long term. I think It is not profitable.
I agree mate. I think Monero is good for long term. I have seen many investors prefer invest in short term like you. They said It is more profitable. I think It is true, But I personally prefer invest in long term, because I am really busy.
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Monero is a coin that has the same future as Waves. Monero good investment for the long term. Is there anyone who invests monero?
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Monero is popular privacy coin this is the good cryptocurrency for investments this coin has good future so lot of investors believe in this coin, if invest in red market definitely you will earn profits in green market because this is the promising project.
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Monero is a coin that has the same future as Waves. Monero good investment for the long term. Is there anyone who invests monero?
Yes, I have bought some Monero. I also believe Monero will have good future, I see it is very potential coin.
I personally prefer in private transaction in this coin. It is sreally safety.
I think this coin will be more popular at the next year's, I see many investors already used this coin for investment and their transactions.
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I think this coin will be more popular at the next year's, I see many investors already used this coin for investment and their transactions.
I also think so, Maybe the price of monero will go up little by little. Hold monera is the best choice.
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Monero remain 15th position at CMC. I see Monero is stable and has good progress now. I believe monero is good crypto currency to invest for long term. I think Monero will be needed at the coming future , It will be more valuable and more popular at teh future.
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Yea, Monero is a good cryptocurrency. Monero future is bright. Anyone can invest on monero coin.
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Monero is a coin that has the same future as Waves. Monero good investment for the long term. Is there anyone who invests monero?
Yes , I have invested in Monero. My prediction, Monero will have good future and more valuable at the coming future. It is very potential coin. I also hold this coin for long term investment. Because I have seen many investors have done it. I hope It will be true.
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Monero is a good cryptocurrency for investment I'm using this coin for investments many times I earned profits from this coin actually this is the best investment to earn profits this coin price is not cheap although we can earn huge profits from this coin also this is the best coin for long term investments.
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Monero is a coin that has the same future as Waves. Monero good investment for the long term. Is there anyone who invests monero?
Yes I agree with your opinion..Monero and waves are good crypto currency. You can invest in both and you will get big profit at the coming year. I personally prefer in Monero than waves. Monero is good for transaction and untraceable. I hope Monero will be more popular.
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I actually didn't invest in this coin, but I believe Monero has good potential and is able to compete with other top-ranking coins. For those who invest in Monero, don't rush selling your coins because I'm optimistic that in two years the price of Monero will go up high.
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I actually didn't invest in this coin, but I believe Monero has good potential and is able to compete with other top-ranking coins. For those who invest in Monero, don't rush selling your coins because I'm optimistic that in two years the price of Monero will go up high.
I think you can try invest in Monero. Monero is good coin and I see It is more popular now. you can buy Monero and hold it, wait the price then You can sell it. I personally prefer invest in this coin. I hope this coin will have bright future. Let's see .
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i realy trust on this coin strong project will pump goodly
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i realy trust on this coin strong project will pump goodly
If you think this coin is good and strong project will pump goodly. You should buy more monero and hold it. I have done it and wait the higher price. I believe this coin will be more valuable at the end of this year. I see Monero has good progress on the market now.
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Monero is a coin that has the same future as Waves. Monero good investment for the long term. Is there anyone who invests monero?
I am not agree if you said Monero is a coin that has the same futures as waves. I think you should explain what the same of them. In my opinion Monero is better than waves. Monero is number 16 and waves is number 42. Monero is more popular and potential than waves.
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Monero is best coin for invest I'm using this coin for investments this is the profitable investment like top altcoins this a giant coin this coin is following own way but always this coin stay in top places we can use this coin for long term investments.
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Monero is a coin that has the same future as Waves. Monero good investment for the long term. Is there anyone who invests monero?
I was invested 2 years ago got some profit on it. But now monero already dead mate. And looking for extra coin for my new investment.
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Yes, Monero is good coin for long term investment. Monero deserves to be in rank #16 with $96 price per token. Hold your Monero it is good investment for the future.
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Monero is a coin that has the same future as Waves. Monero good investment for the long term. Is there anyone who invests monero?
I agree Monero and waves are the same future. I see both are very potential and profitable for long term investment. I also believe this coin will rise and rise again until the end of this year. Maybe will be the Middle next year, It will be more valuable and stable.
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Monero is privacy coin but this is the best investment coin we can hold this coin for long term investments but this coin is better than waves so this coin is in top places in CMC so this coin future will be very bright.
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Of course monero a good cryptocurrency in the world cryptocurrency market. A lot of investors invest in monero.
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Monero is a coin that has the same future as Waves. Monero good investment for the long term. Is there anyone who invests monero?
I have inversted in Monero. I think Monero is good coin and very potential for long term investment. Monero has shown good performance at this year, I believe this coin will more valuable and popular at the next year. It is really very potential coin.
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Monero is good cryptocurrency for investment this is the big profitable coin for long term investments several times I'm invested in this coin I hope this coin future will be very bright in cryptomarket because it's performance is still look good if you hold this coin for future that is good decision.
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Monero is good cryptocurrency for investment this is the big profitable coin for long term investments several times I'm invested in this coin I hope this coin future will be very bright in cryptomarket because it's performance is still look good if you hold this coin for future that is good decision.
Yes I agree Monero will have bright future, I see Monero has shown good performance at Crypto market this year. I think this coin will be top ten at the next year and have good price. Buy Monero when low now and hold it. Wait the higher price.
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Monero has a high level of code. It should be noted that very qualified programmers are working on this coin.
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Monero is good cryptocurrency for investment this is the best cryptocurrency for long term investments in the past six months the price of Monero is constantly going up so it's Market capitalization is significantly increasing today this coin is 15th place in CMC so this is the profitable investment.
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If you want to invest in this coin Definitely this is the best coin Monero has used by many users everyday. it has very bright future this is the high secure privacy coin so you can use this coin for private transactions currently this coin is popular in cryptomarket so this coin is attracting huge investments if you invest in right time you can earn big profits from this coin .
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Monero is a coin that has the same future as Waves. Monero good investment for the long term. Is there anyone who invests monero?
Yes , I think It is true mate. Monero is good for long term investment, It is very potential and profitable coin to hold for several months..Buy now, I see the price is still low. Hold it and wait the higher price, you will get the benefit from it.
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If you want to invest in this coin Definitely this is the best coin Monero has used by many users everyday. it has very bright future this is the high secure privacy coin so you can use this coin for private transactions currently this coin is popular in cryptomarket so this coin is attracting huge investments if you invest in right time you can earn big profits from this coin .
Yes , It is true, I agree with your opinion about Monero is high secure privacy coin so you can use this coin for private transactions. I see many investors have used Monero for private transaction and I worry this coin will be used by criminals activities and hackers. I hope It will not happen.
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Monero is good coin for long term investments this is privacy coin so this coin is popular in dark web side however this coin is popular for anonymity, private transactions and investment if you interested in monero of course this is good choice for investment but you should know about market conditions because today the price of monero is $122.
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Monero is a coin built on privacy.But some people know of Monero as a cryptocurrency that is mostly used for illegal business because of its privacy.Therefore, XMR is used as the most used crypto currency in digital environments such as Dark Web.This event affects his perspective on Moneoro.Monero recently drove cryptocurrency exchange ShapeShift, Xmr and Dash from the platform
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Monero is a coin that has the same future as Waves. Monero good investment for the long term. Is there anyone who invests monero?
Monero and waves are very potential and good for long term investment. I think both will have bright future and more valuable at the coming future. In my opinion Monero is good Crypto currencies and suitable for long term investment.
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Monero is a coin that has the same future as Waves. Monero good investment for the long term. Is there anyone who invests monero?
Monero and waves are very potential and good for long term investment. I think both will have bright future and more valuable at the coming future. In my opinion Monero is good Crypto currencies and suitable for long term investment.
yes monero is a good coin for long term investments still this is the popular privacy altcoin but some organisations are trying to break the Monero privacy today monero is 14 place in CMC and it's price is $144 as well as waves is constantly going uptrend I hope it will come 30th place soon
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yes monero is a good coin for long term investments still this is the popular privacy altcoin but some organisations are trying to break the Monero privacy today monero is 14 place in CMC and it's price is $144 as well as waves is constantly going uptrend I hope it will come 30th place soon
Yes , I agree Monero is good for long term investment. I see the Monero price is still low..you can buy more now and hold it. I believe Monero will more valuable at the next year. Monero rank is number #15 today, But I think It will go up.
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Yes , I agree Monero is good for long term investment. I see the Monero price is still low..you can buy more now and hold it. I believe Monero will more valuable at the next year. Monero rank is number #15 today, But I think It will go up.
Top 20 is a good coin, if you buy cheap now and hold for several at moment, I think you will make a profit. Are you trader of Monero?
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Our governments will not like the fact that a private, safe and untraceable cryptocurrency has appeared and Monero has every chance of surviving when the cryptocurrency market is cleared of the slag that has no real benefit.
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Yes Monero is a good cryptocurrency if you want to invest in this coin Definitely this coin will give big profits this is a potential coin for long term investments but this is a popular privacy coin so this coin is used for many dark activities. however this is a perfect coin for investments.
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Yes Monero is a good cryptocurrency if you want to invest in this coin Definitely this coin will give big profits this is a potential coin for long term investments but this is a popular privacy coin so this coin is used for many dark activities. however this is a perfect coin for investments.
I think you should explain why the reason Monero is very potential for long term investment. Because you should give suggestions about Monero. Monero is privacy transaction coin . I think It is good for long term investment, because I doubt several countries will block itt.
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By seeing the progress of Monero, I think Monero is a good Crypto currency. But I don't like this coin. I prefer Invest in top five coin. Monero is number 15 on CMC, I see this coin is very potential, if you like this coin, you can invest for long term.
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By seeing the progress of Monero, I think Monero is a good Crypto currency. But I don't like this coin. I prefer Invest in top five coin. Monero is number 15 on CMC, I see this coin is very potential, if you like this coin, you can invest for long term.
Yes, I have asked several people they prefer invest in top coin. They said, top coin is more safety. I think they are right. But we all know about several potential altcoin like Montero, waves, NEO. They are also very profitable.
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Monero is certainly a good cryptocurrency, but because it's a privacy coin many people don't like it.
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Created in April 2014, Monero (XMR) is classified as a privacy coin due to untraceable, unlinkable, private, and analysis resistant transactions. The cryptocurrency is down 83% from the all-time high, of nearly $500, established in December 2017. The market cap currently stands at US$1.43 billion, ranking XMR 13th on the Brave New Coin market cap table, with US$52.75 million in trading volume over the past 24 hours.
XMR’s default privacy features leverage Multilayered Linkable Spontaneous Anonymous Group signatures (MLSAG), ring confidential transactions (RCT), and stealth addresses. Other coins with the optional ability to send private transactions include Zcash (ZEC), DASH (DASH), GRIN (GRIN), PIVX (PIVX), which use Zero-Knowledge proofs or CoinJoin.
There are so many cryptocurrencies that people do not tend to pay much attention to. Investing in these cryptocurrencies would bring about maximum profits and also would bring less worries in the fluctuations of their prices as they have really stable prices. Cryptocurrencies like ripple,monero,dash,binance coin,bitcoin cash,bitcoin sv, litecoin,ethereum and so many more can be invested on the platform (www . forex #spam .io). There is also a free mining software where you can mine free BTC on the platform.
A quick comparison between coins with privacy capabilities shows that XMR leads in market cap and GitHub activity. Both XMR and GRIN obscure the blockchain transaction values and addresses used.
MLSAG signatures, as used by Shen Noether's RCT, are based on Gregory Maxwell's Confidential Transactions, and Nicolas van Saberhagen's Ring Signatures. These digital signatures allow any member of a group to produce a signature on behalf of the group, without revealing the individual signer's identity.
RCT was initially implemented on XMR in January 2017 and improves upon ring signatures by allowing hidden transaction amounts, origins, and destinations with reasonable efficiency and verifiably trustless coin generation.
The stealth address feature allows for single-use addresses, which only reveal where a payment was sent to the sender and receiver. A multi-signature wallet function was also implemented in April 2018.
A drawback of a hidden ledger is the inability to audit the chain to determine if extra coins have been minted. On July 3rd, HackerOne revealed several vulnerabilities, including the ability to send counterfeit XMR to an exchange wallet. The report stated, “by mining a specially crafted block that still passes daemon verification, an attacker can create a miner transaction that appears to the wallet to include sum of XMR picked by the attacker...this can be exploited to steal money from exchanges.”
The bug did not affect on-chain XMR values and the vulnerability was patched months before the HackerOne report. ZEC had a similar but worse on-chain minting problem with an inflation bug which went without a fix for eight months.
XMR’s transactional privacy features have also attracted increased mining malware and ransomware operators over the past few years. A report released in January 2019 found that nearly 5% of all XMR in existence was created by crypto mining malware.
There have been several malware variants affecting different operating systems. KingMiner, targeting Windows servers, was discovered in June 2018 and likely accounted for an 86% increase in cryptojacking throughout Q2 2018, as reported by McAfee labs. Linux.BtcMine.174, which targeted old Linux operating systems, was discovered in November 2018. Mining malware affecting cloud providers using Linux was discovered in January by Palo Alto Networks Unit 42. The Ukraine government has also been affected by the cryptojacker Minergate.
Trend Micro discovered a significant uptick in XMR-related mining malware over the past year. This included two mining malware variants affecting Windows servers, RADMIN and MIMIKATZ, and Linux malware Coinminer.Linux.MALXMR.UWEIU which eliminated any competing malware on the infected machine. The security analysts also detected a URL spreading a botnet with an XMR miner bundled with a Perl-based backdoor component. The Perl-based backdoor component is capable of launching distributed denial-of-service (DDoS) attacks, allowing the cybercriminals to monetize their botnet through cryptocurrency mining and by offering DDoS-for-hire services. Most of the infection attempts thus far have been in China.
In response to the persistent and ongoing use of malicious software, the XMR community created a website to help users affected by these problems, including information for diagnosing and removing the malicious software. However, there are ongoing concerns around governmental attempts to declare a ban on XMR usage. Japanese and U.S. governments have expressed interest in “legislative or regulatory actions” to prevent the use of privacy focused cryptocurrencies, such as XMR and ZEC, for illicit purposes.
In late 2018, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) blacklisted two specific Bitcoin addresses for the first time, both of which had been used for ransomware. This week, OFAC blacklisted 10 BTC addresses and one LTC address connected to narco trafficking. These blacklisting procedures decrease coin fungibility and increases coin surveillance, both of which are not possible with XMR.
Riccardo Spagni, a member of Monero’s core developer team, has expressed his opinion that the U.S. is unlikely to declare a privacy coin illegal. Spagni believes that privacy coins will remain open to U.S. users as long as Tor remains open. However, he has also said that Zcash, which is managed by a U.S. company, is much more likely to be targeted by U.S. regulators.
There are two key XMR-related protocols in development, Tari and Kovri. Tari was announced in May 2018 and will introduce token creation, in a similar fashion to Colored Coins on Bitcoin, ERC20 tokens on Ethereum, and non-fungible tokens (NFTs) in general. Although there have been no recent announcements related to Tari, the GitHub remains active. Milestones set by year end include a Tari node and testnet.
Most coins use the developer community of GitHub. Files are saved in folders called "repositories," or "repos." Changes to these files are recorded with "commits," which save a record of what changes were made, when, and by who. Although commits represent quantity and not necessarily quality, a higher number of commits can signify higher dev activity and interest.
Source: GitHub
Kovri has features that are similar to The Onion Router (TOR), and is currently in pre-alpha. Kovri will add additional user privacy by anonymizing geographical locations and IP addresses with an overlay network. Initially, Kovri will be implemented in the official XMR wallet. Eventually, all future XMR transactions will be routed through Kovri. After Microsoft acquired GitHub, Kovri’s development work was moved to GitLab. The Kovri GitLab has had no activity in the past five months.
Source: GitLab
On the network side, the XMR community has taken an aggressive approach to regain application specific integrated circuit (ASIC) resistance. Beginning in late 2017, the XMR hashrate began to increase substantially, suggesting stealth ASIC mining. This meant that CPUs and GPUs could no longer efficiently mine XMR. The increased use of ASICs on any chain can mean increased network centralization as less efficient hardware, like GPUs and CPUs, become unprofitable to use, allowing those with more resources to buy more ASICs.
The XMR Proof-of-Work (PoW) algorithm, CryptoNight, had been scheduled for slight changes through the use of periodic hard forks, every six months, which would have ideally decreased the use of ASICs on the chain. Future PoW algorithm changes, potentially being released in October 2019, will likely involve a new consensus algorithm. Developed over the past year, the Random X algorithm prevents ASIC or GPU mining, focusing instead on CPU-centric mining. The algorithm has now passed two security audits, making implementation into Monero increasingly likely.
The most recent scheduled hard fork occurred on March 9th at block 1,788,000, which implemented Monero Core v0.14.1. The hard fork brought blockchain pruning and improves transaction efficiency, along with an immediate and significant drop in hash rate. A similar drop in hash rate occurred after the hard fork in April 2018, suggesting the possibility of significant ASIC use on the chain.
Another possible reason for the significant rise and decline in hash rate may be due to increased mining malware using the now defunct PoW algorithm. The October 2018 hard fork didn’t trigger as much change in the hash rate when compared to the April and March hard forks.
Source: BitInfoCharts
Since the March hard fork, hash rate has stabilized and, based on mining difficulty, overall miner participation is holding near a 17-month low. Despite the multiple hard forks, hash rate distribution remains widely varied between six major pools and several smaller and unknown pools. Although frequent PoW changes decrease ASICs on the chain, as total hash rate drops, risks of a 51% attack increase.
Just over 93% of the 18.4 million XMR to exist by May 2022 have now been mined XMR has a two-minute targeted block time with a 2.93% annual inflation rate (line, chart below), which is among the lowest of all coins. Instead of the stepwise disinflationary curve, which occurs after each Bitcoin block reward halving, XMR has a smoother emission curve until the block reward hits 0.3 XMR per minute, where it will remain indefinitely. This is known as tail emission and ensures a block reward in perpetuity, regardless of transaction fees.
Transactions per day (line, chart below) recently hit an all-time high of 15,000 but have dropped 50% since May. Peaks in mining difficulty (fill, chart below) since January 2018 have preceded spikes in transactions per day, suggesting that mining activity may be a cause for this transaction spike. As mining malware activity or new ASICs come on or offline, mining difficulty can vary wildly.
Source: CoinMetrics
XMR had historically led the pack in regards to transaction fees (red, chart below). XMR transaction fees are currently lower than ZEC but higher than DASH, GRIN, and PIVX. XMR has also historically had more transactions per day than ZEC, GRIN, or PIVX, but fewer than DASH (not shown).
In October 2018, XMR completed a hard fork to implement Bulletproofs, which reduced transaction sizes by 80% and immediately brought average transaction fees down to US$0.027. XMR’s average daily block size is currently higher than ZEC, DASH and PIVX, and has also decreased significantly since the addition of Bulletproofs (not shown).
Turning to developer activity, XMR currently has 17 repos on GitHub. In total, over 200 developers have contributed over 3,000 commits in the past year across all repos. Most of these commits have occurred on the main XMR repo (shown below). In January, the XMR wallet and node software Monerujo v1.10.14 was released, allowing for increased privacy obfuscation for where payments are sent and how much is held in the wallet. Monero v0.14.1.0 was released in June and brought the introduction of blockchain pruning and improved transaction efficiency. Monerujo v1.11.13 was released in July with minor improvements.
Source: GitHub
Exchange traded volume has been led by the Bitcoin (BTC) and Tether (USDT) pairs. The sustained dominance of the BTC trading pair is largely due to the lack of direct fiat gateways for XMR. However, earlier this year, Binance added XMR/BNB and XMR/USDT trading pairs. XMR/BTC margin trading was added to Poloniex in late April. This month, Poloniex delisted LTC/XMR, DASH/XMR, ZEC/XMR, MAID/XMR, NXT/XMR, and BCN/XMR pairs due to low volume.
As exchange services like Shapeshift and Changelly now require customers to register for KYC/AML requirements, XMR volume on decentralized exchanges (DEXs) will likely continue to increase. The XMR/BTC pair on Bisq, a peer to peer private DEX, currently accounts for 98.23% of the total exchange volume. In 2018, the U.S. Securities and Exchange Commission announced that DEX owners need to register as exchanges, which may keep unregistered DEXs out of the U.S. entirely.
In the future, XMR may be delisted from centralized exchanges and relegated to DEXs entirely. Although, in August 2018, XMR was listed as a potential addition to Coinbase. ZEC was added to Coinbase with it’s optional privacy feature disabled. Hardware wallet solutions currently available for XMR include the Trezor Model T and the Ledger Nano S.
Worldwide Google Trends interest regarding the term "Monero" remained sharply down over the course of 2018 and early 2019, and is currently sitting at a multi-year low. A slow rise in searches for "Monero" preceded the bull run in Q4 2017, likely signaling a large swath of new market participants at that time. A 2015 study found a strong correlation between the google trends data and bitcoin price, while a 2017 study concluded that when the U.S. Google "Bitcoin" searches increase dramatically, Bitcoin price drops.
Technical Analysis
Over the past two years, XMR and BTC have had higher price correlations than most other coins. The correlation dropped dramatically around June 24th, a few days before the XMR bug was broadly announced. As the correlation continues to decline, a roadmap for price can be found using exponential moving averages, Pitchforks, Volume, chart patterns, and the Ichimoku Cloud. Further background information on the technical analysis discussed below can be found here.
Source: CoinMetrics
On the daily chart, the 50-day exponential moving average (EMA) and 200-day EMA were bearishly crossed for 365 days, and subsequently crossed bullishly in late May. With price hovering below both the 50-day EMA at US$86 and 200-day EMA at US$82, bearish continuation followed by a Death Cross is now more likely. Further, long/short open interest on Bitfinex (top panel, chart below) is currently 80% long with longs slowly decreasing over the past few weeks. Shorts have been essentially unchanged over the past month.
Price has also been bound by a bearish Pitchfork (PF) for the past year, with anchor points in December 2017, February 2018, and April 2018. Price has been unable to definitively breach the PF despite several attempts. The median line (yellow), currently at US$47, and will likely be continually tested as either support or resistance so long as the PF is active. There is also a high volume VPVR node from US$41 to US$53 which should act as near-term support. Additionally, there are no active divergences to suggest weakening bearish momentum.
Turning to the Ichimoku Cloud, four metrics are used to determine if a trend exists; the current price in relation to the Cloud, the color of the Cloud (red for bearish, green for bullish), the Tenkan (T) and Kijun (K) cross, and the Lagging Span. The best trade entry always occurs when most of the signals flip from bearish to bullish, or vice versa.
Cloud metrics on the daily time frame with doubled settings (20/60/120/30) for more accurate signals are bearish; price below the Cloud, the Cloud is bearish, the TK cross is bearish, and the Lagging Span is in price and below Cloud. A traditional long entry will not occur until price is above the Cloud.
Lastly, on the XMR/BTC daily chart, the trend is significantly bearish. The 50-day EMA and 200-day EMAs have been bearishly crossed for over a year and Cloud metrics are also 100% bearish (not shown). If buyers can not hold the current low, there is no significant support until the previous local highs near 0.004 BTC. Additionally, there are no active RSI or volume divergences currently to suggest waning bearish momentum.
Conclusion
Fundamentals show active and continued incremental upgrades over the past two years, including decreased transaction costs, improved transaction efficiency, blockchain pruning, and improved custody solutions. On-chain use has decreased in recent weeks, which largely falls in line with the wider market.
The network will likely drastically change it’s consensus algorithm from CryptoNight to Random X this coming October, in a bid to remove ASICs from the network permanently. Thanks to XMR’s ironclad privacy, darknet traffic continues at a fever pitch with new mining malware and various attack vectors being discovered almost monthly.
Technicals for the XMR/USD pair show trend metrics threatening a Death Cross as the Cloud has already turned bearish. Strong support sits from US$41 to US$53 while strong resistance sits at US$120. Technicals for the XMR/BTC pair remain firmly bearish, with trend metrics showing no signs of bullish momentum. Critical support stands at the local low, which if breached, will likely result in significant downward momentum, potentially towards 0.004.
PS: This article is subject to personal opinion. Any investment to be made should be critically considered and also made known to professionals for optimal advice.
Yes mate, I think Monero is a good cryptocurrency. Day by day it developing it’s popularity. It's price is growing up day by day. So, if you want to invest here, you will get a good profit in future.
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In crypto currency market there are many projects or coin trade everyday. Monero is one of the most active crypto currency in the market. The price of monero is $145.80 which price is increased 5.53% today.
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In crypto currency market there are many projects or coin trade everyday. Monero is one of the most active crypto currency in the market. The price of monero is $145.80 which price is increased 5.53% today.
Yes you are right..Montero is.one of most active crypto currency in the market. I see many investors already use this coin for their transaction because Monero is good for private transaction. I believe Monero will have future brighter than now.
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Monero is a good privacy coin it has very bright future but currently all privacy coins are facing some problems in many countries for anonymous transactions because we can't track this types transactions this is the reasons many countries are trying to ban privacy coins transactions .
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Monero is a good privacy coin it has very bright future but currently all privacy coins are facing some problems in many countries for anonymous transactions because we can't track this types transactions this is the reasons many countries are trying to ban privacy coins transactions .
Yes, I agree, I think It will be problem for Monero at the coming future. I think private transaction and untraceable coin will ban at several countries. Because It will misuse by several illegal activities and maybe terrorist
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Monero is a good privacy coin it has very bright future but currently all privacy coins are facing some problems in many countries for anonymous transactions because we can't track this types transactions this is the reasons many countries are trying to ban privacy coins transactions .
Yes, I agree, I think It will be problem for Monero at the coming future. I think private transaction and untraceable coin will ban at several countries. Because It will misuse by several illegal activities and maybe terrorist
Many investors already talked about it . But I think they still used Monero for their transaction. Because We all know Monero is good private transaction and really untraceable as many people said . That's true.
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Monero is a coin that has the same future as Waves. Monero good investment for the long term. Is there anyone who invests monero?
I have Monero, but not much but if Monero goes up 100% I can get a decent profit from the initial capital, sure Moreno will have the best price next time, I believe that
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If you're interested in cryptocurrencies, Monero may be a good investment. Monero vs Bitcoin is a tough comparison to make. ... On the other hand, Monero is formidable because of its strong privacy features. Monero beats Bitcoin on privacy, fungibility, transaction fees, and mining algorithm. This is another website that provides very short-term to long-term price predictions for cryptocurrencies.
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If you're interested in cryptocurrencies, Monero may be a good investment. Monero vs Bitcoin is a tough comparison to make. ... On the other hand, Monero is formidable because of its strong privacy features. Monero beats Bitcoin on privacy, fungibility, transaction fees, and mining algorithm. This is another website that provides very short-term to long-term price predictions for cryptocurrencies.
Yes, Monero is good privacy features. It is the advantages of Monero better than bitcoin. Monero team always focus on private transaction and untraceable. Bitcoin is always be the King and more popular. But Monero is also good for investment
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It is a good coin especially for those who are mining. I have acquaintances who have been mining monero coins because their profit is good. Recently, for some reason, it could not make a serious upward attack. Although Bitcoin did not fall after a sharp move, it did not exhibit a serious price increase.
One of the biggest problems is that privacy-oriented coins are getting delisted from exchanges.
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If you're interested in cryptocurrencies, Monero may be a good investment. Monero vs Bitcoin is a tough comparison to make. ... On the other hand, Monero is formidable because of its strong privacy features. Monero beats Bitcoin on privacy, fungibility, transaction fees, and mining algorithm. This is another website that provides very short-term to long-term price predictions for cryptocurrencies.
Yes, Monero is good privacy features. It is the advantages of Monero better than bitcoin. Monero team always focus on private transaction and untraceable. Bitcoin is always be the King and more popular. But Monero is also good for investment
I think I agree with you, monero team is always focus on private transaction. But I also heard several issue about this will be blocked at several countries because untraceable. I think Monero is good for private transaction, but I don't believe about the future.
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monero team is always focus on private transaction. But I also heard several issue about this will be blocked at several countries because untraceable. I think Monero is good for private transaction, but I don't believe about the future.
Yes, I also heard about that issue. Cardano will be blocked at several countries because cardano is untraceable. I hope itjust issue. Cardano is very potential I think I agree with several opinion here, cardano is suitable for long term investment
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Yes Monero is a good cryptocurrency for investments this is always popular in the cryptomarket because it has powerful technology and good developer team so this is potential investment in the cryptomarket Monero is a popular privacy coin there is many privacy coins in the cryptomarket but Monero is a better and best coin for privacy transactions.
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I like Monero I'm already earned profits from this coin this is a good coin for long term investments if you bought this coin at the bottom you will get huge profit in a long term if you look past twelve month market cycle of this coin you can understand it
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Yes monero is a good altcoin this is a potential altcoin to long term investment if you want to invest in monero you can do now because the price of monero is still low this year monero touched $500 this is the highest price of this coin but now monero is moving in $260 this is the right time to buy.
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Yes monero is a reliable coin this is a unique technology this is popular for private transactions it has untraceable technology this is a good coin for long term i hope in the future it will be more strong so I will invest again in this coin.