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Get up to date for Monero's 10 year anniversary on April 18th! A lot of stuff currently going on at the moment...

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by COINS NEWS 88 Views

An end and a new beginning

Monero is special. It risked being delisted from all major CEX, because it simply does not want to compromise on what the community holds up like no other.

Your privacy as your human right.


It's therefore a special birthday party as Monero is almost out from all big centralized exchanges. And it's likely that until end of this year Monero will simply be gone and eradicated from centralized entities.

It's the completion of what Satoshi intended in the first sentence in his whitepaper:

A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.

Monero is delivering where BTC failed. It's the spiritual successor of BTC (which I don't want to hate on as it has found its place as a potential reserve asset for the established financial world).

So how is a project really faring that has no access to liquidity on CEX?

The answer might come as a surprise to many. But it's flourishing.

  • Monero has the network with the most reachable nodes even before BTC (22k vs 18k).
  • After BTC and ETH it has the third most vibrant developer community.
  • It's at the center of the freedom/privacy tech movement. DEX and atomic swaps, P2P markets are all built around Monero.
  • Whenever you see any merchant or gift card provider publish any data it ranks #1 or #2
  • Successfully took over the darknet markets from Bitcoin where privacy is your only security guarantee

But what about attacks?

  • Price suppression might come to a halt soon with CEX volume decreasing massively both through delistings and shift from CEX to smaller instant swap exchanges or DEX/P2P markets.
  • Network attacks are a common thing (nodes that feed wrong data, or transaction flooding and poisoning attacks), but so far the network just reliably does its job. It runs (little side wink to Solana, which "suggested" marketcap is x40 Monero).
  • Attacks on people (downvote bots/upvote bots trying to discredit users of the Monero community)
  • Media reputation shaming naming it as a coin for criminals
  • Regulators putting pressure on CEX to delist

What happened in the last days?

  • Kraken partial delsiting in Ireland, Belgium (and The Netherlands?)

  • Long awaited "Haveno" fiat <> Monero DEX now on mainnet

  • FCMP (full chain membership proofs) coming and by that getting rid of Monero's main weak spot that has been rightfully criticized by a lot of experts.

  • Monerorun - Monero's proof of reserve day on 18th of April (birthday)

Taking part in Monerorun - a public audit of (fractional or not?) reserves of CEX

Monerorun has been an essential part in the Monero community for a couple of years that post FTX debacle influenced the wider crypto ecosystem often referenced as NYKNYC - not your key, not your coins.

Now that Monero delisted almost all CEX, that begs the question of how to proceed with this event.

  • Binance still has withdrawals open until May 20th. Tell all your friends to withdraw now.
  • Kucoin and Gate.io are lately behaving like scams. Get your Monero out if you still can.
  • HTX and Poloniex are two of Justin Suns projects to manipulae markets, with wash tarding, decoupled prices and fractional reseres. After almost 5 month of closed withdrawals tehy currently opened their gates. Use this opportunity to get your coins from there.
  • Kraken announced the auto-conversion of XMR into BTC on June 10th. So use this opportunity to get the coins on Kraken in your own hands.

Since Haveno is out now. A DEX built on-top of Monero give it a try.

I guess the next 10 years will be even more exciting for this project, the cypherpunks involved, the human rights activists relying on it and you the users laying the ground for the circular economy.

submitted by /u/gr8ful4
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