Can someone explain to me who only occasionally watches Monero why it's going to shit pricewise? When I took a look at investing into monero but didn't it was at like $2, now coinmarketcap says it's trading at $0.37. WHY? Is Monero still working, is it still an untracable, anonymous crypto? Was it overtaken by a competitor? What's happening? I heard there was some trouble about attacks on the network and anonymint claiming he has broken monero or something. What's the state now? Monero looked super promising to me. Is there any real goods market for it? Shouldn't it attract certain types of markets for it's anonymous properties?
Would be happy to hear a short summary or at least link because there seem to be quite a of very long threads to read through to get informed.
There was one attack, but that happened before the price drop and was quickly patched, and the bcx/anonymint noise turned into much ado about nothing. (BCX was nothing but pure FUD bullshit -- probably run by a competitor. Anonymint now supports ring sigs as the most viable method of anonymity, as far as I can tell, though some minor tweaks continue to be needed in his view, and I don't necessarily disagree.)
Since that time we have added a web wallet, fixed a bunch of bugs, released a few test versions with a database, and now had someone launch a Monero version of localbitcoins. Still, the price drops.
No, the only reason it is going all to shit pricewise is simply supply and demand and nothing about the tech at all. There is a lot of mining and we just ran out of people who wanted to accumulate (in the current overall pretty negative crypto-environment). At this point the only way to find buyers for the mined coins is for the price to drop where people will average down. Until some equilibrium is reached, whenever that might be.
Better discussion for the Speculation thread though, since there is nothing fundamentally wrong with the technology as you say. It is all a market effect.
Thank you. Nice to see that Monero seems live and kicking. I hope it will find some usage in the RL world. Anonymity is much needed and bitcoin doesn't cut it for this purpose aynmore. Many of the super new coins coming with super elaborate schemes with them sound like a whole bunch of vapourware. Monero is something I can get behind.
