Skip to main content

Monero - Is it ready to break out?

Monero is one of my favorite Alt coins.  Unlike most Alt coins where, as much as I hate to admit it, I tend to follow the crowd, I like Monero because of its fundamentals.

Monero is used in place of BTC when the users want greater anonymity than what BTC provides.  Yes, this is often on the Dark web buying products of questionable nature, but also on normal Ecommerce sites by people who just don't like everything they do being tracked.

I don't know this for a fact, but I think in terms of Alt coins, Monero is probably the coin most used for monetary value other than BTC. Ethereum is maybe used more often, but not for monetary reasons.  ETH is used to create other coins and for other uses of it's smart contract functionality.  When it comes to buying something online, your choices typically come down to BTC or Monero (and sometimes ZCash and/or Dash).

I think the chart looks great.  It's been growing at a nice steady clip.  It is showing higher highs and higher lows.  Right now it is forming a bull flag which typically leads to a breakout to the upside.  When all the other Alt coins ran higher in April and May '17, Monero didn't really take part in that run.



I think the time for Monero to run is approaching.  I am adding to my Monero holdings every chance I get.

Comments

Post a Comment

Popular posts from this blog

Antiminer S7 Issues and Diagnostics steps

Note, the instructions below are how I diagnosed the problem I describe.  I'm providing it here in case these steps help you narrow down your issue somewhere along the way. I have an Antminer S7 (batch 8) unit that has been giving me problems.  It worked fine for a week or so then started slowing down.  I could hear the fan slowing down and speeding up and if I checked the web GUI of the unit I could see that “chains” 1 and 3 often had very cool temperatures, as if they weren’t even running. It would then try to get those engaged again and it would speed up and then the cycle would repeat.  Eventually, over time, I’d get a high piercing alarm sound and at that point if I checked the GUI I’d see Xs in the ASIC display instead of Os (image below). Above is how it was typically running.  After a while an alarm would sound and it would look like below: PSU: The first things I tried were to swap power supplies with a working unit.  It’s...
8 comments
Read more

Etherum on the Move...

Artwork by Steven Grundy What, more Crypto talk? Yes, sorry, more crypto talk, but I'll try to keep it short. Back on July 16th I said that I thought the bear market had ended that day and we were starting a new bull market. Only time will tell if I was right because we haven't had enough time to call it a bear market. But, in that time, Ethereum, the bellwether coin that we measure with, is already more than 50% from that date and 120%+ since June 16th (2022). There are a lot of coins that did better than that, but for a "safe" bet like Ethereum, that's a really nice move. But, it's not too late. Ethereum makes a change on September 26th that will dramatically improve it's capabilities. I think we are going to fairly quickly see ETH return it, and pass it's all time high of $4891.70, maybe even before the end of the year. Now there is always the chance that ETH, and all coins, will turn around and head back down for a test of the low of $876.54....
Post a Comment
Read more

IOTA - A Beginner's Guide to Why IOTA Matters

IOTA is not your typical cryptocurrency.  IOTA, which typically stands for the Internet Of Things is a completely new approach to managing a blockchain. Blockchain technology is what made coins like Bitcoin (BTC) possible.  BTC is just a coin that uses the blockchain technology.  As I've said many times before, the "real" invention here was coming up with a blockchain that works.  To show that it works they created BTC.  The success of BTC is a very good indication of how well blockchains can work. Blockchains are what provide the audit trail of each transaction.  It is what allows you to purchase a digital "product" and be assured that the product is authentic and that you are the only one who owns that particular product.  It is what allows us to use BTC as money because it protects against counterfeiting.  Blockchains do have their limitations, most notably transaction speed, and IOTA solves these limitations.  This is hugely impor...
6 comments
Read more