[Samseau]

(01-14-2018 09:33 AM)Samseau Wrote:  

Fascinating link on Monero.

https://www.tradingview.com/chart/XMRBTC...in-crypto/

XMR Monero Best long in crypto

I went back to this link today, and saw a new update:

Quote:

Comment: I've spent a bit of time this week deep diving even harder into the capabilities of the lightning network. Don't believe the fud. My main fear was that lightning would result in centralization. I promise no matter what you hear that's not going to be the case. Decentralization is built into the protocol. Lightning generates it's own routes across the network. They aren't set up manually through centralized hubs by default. Even if centralized hubs are manually set up, those using the defaults of the protocol will take advantage of the centralized hubs that may have been set up and route around them.

The reason this interests me so much is because it creates a possibility for Bitcoin to increase it's dominance in the markets. It's yet to be seen how much privacy can be built on top of lightning and other layer 2+ protocols. If this privacy is determined sufficient, it could take away the edge that Monero currently has in the upcoming years. For now, I have around 10x more BTC than XMR. I plan to retain this ratio until more information is available on the direction that the lightning network is headed.

I'm not going to follow my own advice here but from a traders perspective I'd say XMR is near its top. It could certainly break through this top and go much higher but IMO the odds are better for it to run back down through its channel. If not shorting, watch the lower range of the long term trend for a crystal clear buying opportunity and enter heavily.

While I am not worried about the lightning network taking away the advantage Monero has over security, I do see how Monero is testing the support line it had against BTC of around .025xx BTC. It keeps dipping below this, and given how hard all Cryptos are crashing, I think in the short to medium term (1-3 months) we will see BTC regain market share relative to XMR. XMR could fall back down to .015 BTC, which would be a major buying chance.

As a result I have traded back to BTC. I made about 10% going from BTC to XMR and back to BTC. Too bad I did not sell XMR at $500! But it will be there again someday, and I plan on moving back into XMR after BTC experiences it's next leg up with the upcoming lightning upgrade.

I expect all Cryptos to get slaughtered with if the Dow keeps crashing though. In such an environment it makes no sense to measure your holdings in dollars, use BTC instead. The dollars will come back after our FED decides it needs to print a few trillion more.