Today, I am posting a simple chart dragging DASH and Monero into one room, and comparing the two to offer my ideas on both projects for analysis. TL;DR I still prefer DASH over Monero, and you might see DASH climb past Monero soon on the crypto-ladder on the basis of market caps.
Money Laundering? LSDCoin? KidnappingCoin? Yikes! Surely as a trader and especially if you consider yourself a long-term investor, these terms sound like extreme cases of stigmatised alt coin usage! But sadly, we have to remember that criminals only work in the dark. So what would be more attractive than a CriminalCoin? If I2P endorsed a crypto, you might as well call it Monero 2.0...But wait, don't the bad guys only use Bitcoin? Obviously, any currency can be used for malice, but it is commonly known within the darknet where BTC grew up in that dealers preferred BTC over offline fiat. After all, fiat comes with the guarantee of anti-fraud enforcement, serialised bank notes, and the steel hammer of law upon anyone that attempts to pull off a bank heist. Anybody that has felt the pain of the Mt. Gox tragedy, or has been on the receiving end of crime will probably get the point I am bringing up here.
Anybody that believes Bitcoin is 100% anonymous must be very uninformed and oblivious to where crypto is heading. Building a true cryptocurrency on the blockchain and staying laser focused on not competing with 10 other projects all at once is why I got interested with DASH. The myth that you can run a project like Monero, and publicly convince others to put their money in the project to trade or invest is a pretty scary concept. Legitimate Investors and legendary traders are breathing a sigh of relief that top crypto projects and exchanges/wallets are staying partially, or entirely transparent to swim outside of the kiddie pool zone and take a deep dive into the securities ocean. This means, the further away from the black market you go, the more likely you are to attract big money. Obviously, if you are trading or investing in crypto, you are in it for the profit and overall currency innovation right?
This is where my conclusions begin to form. DASH mentions their project as a true "autonomous" cryptocurrency that has the option of privacy with huge potential for liquidity, market cap expansion, and transaction speed/real-world scale.
On the other hand, you have Monero, which mention their project as a "Privacy" cryptocurrency that is built purely to hide and harbour everyone inside the bubble. There may never be liquidity, big money investments, or user growth outside of a small group completely paranoid someone might find out they spent $1 at a local farmers market. User Data is always a touchy subject, but the fantasy that an open-source project can not be copy/pasted quickly to compete for their market cap is pretty prevalent. As an investor, I am not debating morality here, but simply reminding my followers that investing in absolute dark-coins is essentially admitting you want to personally fund the activity of an entire market cap that could be 100% criminal by definition. Think guys! Casino Laundering? Illegal gambling/betting? Hitmen and arms dealers? ID theft and fraud? Ransomware? You name it. If a civilisation sets the ground rules for morality, anybody that wants to ignore the rules is going to flood into an alt coin that hides their dirty deeds under the table and in the dark... Real-adult investors that want to get rich and profit off of crypto are not scared of putting the chips on the table and inviting big money to come over and play. Remember, the market cap of illegal trade under the table is childs play compared to the billions and trillions floating around above the table! As of today, I now own 0.00000 Monero. AKA (CriminalCoin)
quote from the last link: "And by the way, Dash (formerly Darkcoin) does not provide anonymity. They attached a (broken) implementation of CoinJoin to the ordinary Bitcoin client, and at least initially released it as a closed-source software. I haven't looked into Anoncoin, but the best advice I have for folks looking into altcoins is to assume they are uninteresting (and probably dangerously broken) until someone has demonstrated a concrete technical innovation."
BTC_Collector
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@TraderT33, Yea, this is the point I was implying as well.
I was not making claims that any crypto project is perfect or fully developed. The main topic I was bringing up is where both are headed and my opinion on which I would rather invest in.
Complete fungiblity is one of the pitfalls currencies have avoided by implementing databases, ledgers, serial marks, and non-identical manufacturing plans.
A similar concept without monetary jargon is kind of like saying if everyone is special or rich, then nobody within that group is actually special or rich in comparison to each other.
Non-Fungibility to me is the contrast and differentiation between each individual that gives it the unique design, while keeping the overall group completely similar on some foundational levels.
This is why I would prefer to call Monero a cryptoasset, rather than a cryptocurrency. In a tokenised, fully-fungible, 100% anonymous client ring, it makes sense to spend some currency to buy a token, and then use that token inside the black market or for whatever “anonymous” merchant is accepting your Monero to transact.
Where on the other hand, the crypto asset BTC and the crypto currency Dash have not made absolute anonymous trade their sole mission.
Otherwise, they would be chasing after other projects to construct exchanges, token pools, operating systems, smart contracts for all, or merchant networks within the black markets.
Which like I have mentioned in my other charts, dilutes their talent and effort, reduces the projects effectiveness and derails everyone from the overall goal of disrupting forex by having a pure solid and scalable crypto currency.
BTC_Collector
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Sorry if my replies got duped guys, I didn’t notice they were pending mod approval.
BTC_Collector
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And regarding my chart:
Monero has already peaked twice and slid from the ceiling as shown with no rally in sight.
(Check out the price movement between the blue/red channels).
Dash has an adjusted-rally of incredible proportions in comparison to Monero's little bounces.
I am pretty convinced the broken support/floor for DASH is due to the recent volatility in BTC following the sell-off.
Remember, the asset BTC can crush alt coin markets simply by dipping, similar to how index funds/ETF's can drag down stocks and investor-consumer confidence.
G7 seems to be the "big reason" why the markets are panicking, but I have yet to hear a good reason why cryptocurrency is heavily exposed to the areas of trade that were affected by the meeting.
If anything, crypto should be a hedge against global crisis and trade wars simply because it is approaching the liquidity and stability of asset-backed securities/currencies
and does not have critical ties to any specific sector or industry that the price is valuated and calculated on (Like P/L statements, or cash-flow/EBIDTA/RONA metrics)
If the markets realise the cryptocurrency DASH is independent from the cryptoasset BTC, you might see a rally here soon to defy the BTC drop, as it has done in the past.
This presents a good opportunity to buy-in if you want a pricing discount for long-holders, or setup your short positions if you want to unload your stop-losses early.
I would dump Monero altogether if you are a being with decent morals. Holding a long position in such alt coin might be a bad idea if you are against the darknet.
It is an absolutely terrible idea if you are someone that believes in a project enough to claim it will go mainstream or even be a valid threat to the crypto-king BTC.
Remember, you can't short a bear market alt coin. And unless you are an immoral criminal yourself, you gotta pay back your friends what you owe on margin.