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Among many things that affect crypto prices, these stand out recently: a. As parts of globe slide into recession, short-term speculators tend to sell. Affects Bitcoin but affects alts more. b. Recessions increase financial risks, causing moves into deeply safe Bitcoin & Monero.
Deep financial risks are more common in developing than in developed countries. They include: a. Exchange rate manipulation b. Capital controls c. Haircuts on savings accounts d. Inflationary policies These risks don't disappear during global booms, but do grow in recessions.
Strongly disagree on defining Bitcoin and Monero as "deeply safe". Cryptocurrency as a whole is the contrary of safe, is the synonym of "high risk" and is what people in recessions tend to avoid, reverting their savings in good ol' gold (which is already on the rise)
What is with bitcoiners shilling monero of all things
I mention it because it's the most prominent privacy coin. Other privacy coins also have benefited or may benefit from increased demand for protection against the deep financial risks that tend to increase in recessions.
Yes they do, and I suggest checking out my Breaking Monero series to learn more about these limitations. By talking about them openly and honestly, we can make the protocol better and give people the privacy they deserve.https://youtu.be/WOyC6OB6ezA
Wise words Justin. I like the #moneromixer concept in recent development
Wouldn’t recession scare off speculative investors from high risk new asset class? And wouldn’t be institutional investors forced to liquidate positions in case of deep recession ?
That's what I said in part (a.): shorter time-horizon holders can need to grow lower-volatility cash reserves or cover margin calls so they sell. Combine with (b.) is why most alt coins have been selling heavily but Bitcoin & a few other trust minimizing coins have lost little.
nick. you mean etc leveraging zk snarks contract
Is it going to default to privacy on?
There it is right there!
2019 will be the year of the ‘bolt privacy on as an afterthought’ coin.
main difference between XMR users, and ZEC users - zcash users understand the difference between obfuscation, and encryption.
And XMR users understand the difference between optional privacy and privacy by default.
And trademarks and founders reward.
...and no supply caps. XMR’s infinite inflation is terrible.
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