Comments
usrfree OP wrote (edited )
But what do you say about the more private transfer of monero. could this feature of make it hike .( Like the transactions are untraceable).
veuzi wrote (edited )
Look at the all-time price charts for BTC, and then compare with altcoins such as LTC, Monero etc. You will see that the peaks and lows coincide with eachother, and the all-time highs occured at exactly the same time (Oct 2021). The various altcoins do manage to compete a little bit among themselves for speculator capital, but none have yet to managed to compete directly with BTC. I could be disastrously wrong with my predictions but it's looking like this will remain the status quo for the entire crypto market.
veuzi wrote (edited )
Nah, I don't think so. The "clandestine money transfer" economy of crypto is a very small part of the economy. Not even the DNMs have managed to take off that much after Silk Road got busted.
veuzi wrote (edited )
Given that BTC was the first cryptocurrency of its kind, and that it emerged in the immediate aftermath of the 2008 recession, at a time where the internet wasn't as monetized as it has since become, IMHO had a lot to do in why the value peaked as much as it did with increasing speculation.
A decade and a half later, most cryptocurrencies have shown that their only real value is in speculation, and occasionally as a clandestine way of transferring money digitally. I see no reason to believe that Monero or any other cryptocurrency will ever reach the heights of BTC without massive capital artificially pumping it up.