Created in April 2014, Monero (XMR) was originally known as BitMonero.
XMR prides itself as a secure, private, and untraceable cryptocurrency-- one of the features that bitcoin does not encompass.
Rumor has it that underground banks and investors in China wait to ditch bitcoin in January 2017, timely with the release of GUI wallet (RingCT) for XMR.
Prep for the Surge
XMR is now getting ready for a surge in its volume-- 24-hours volumes reportedly could increase by as much as US$300 million-- with the release of RingCT.
Pic Credit
One of the aims for the development of 'feeless' RingCT is to facilitate the transfers of funds in the Chinese capital-controlled market by keeping transactions private, very private. This is achieved though the Cryptonote implementation of ring signatures and stealth addresses-- basically some ways to make identification of transactions fuzzy and nearly impossible.
"China's population will skyrocket the price of Monero [...] could cause the next round of cryptonaires [...] It could be another baby boomer for cryptocurrency millionaires [...]"
How Likely Would XMR Becomes a Bitcoin?
Looking at the above statement, supposed that the percentage of cryptocurrency users who view privacy as the most important aspect, turns out more than non-privacy conscious users, then the above will likely turn out to be true and potentially achievable.
Source here.
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Knowing that no one pleases everyone and there is a flip side to every coin, including Bitcoin. Whether you agree, agree to disagree, or the opposite, do not just take my words for it, be sure to look it up.
Thank You SteemVerify
I think finally the features of Monero and Ethereum will be implemented in Bitcoin (RSK is coming in very soon now, and there are many smart people working on privacy features). Then it will be useless to use an altcoin with a way smaller infrastructure and user base. But for the short time they may surge.
Monero is definitely one altcoin to watch in the coming months. It has had a massive jump in price at the same time BTC has. Might have to throw some hash power at it before the rush.
Its an interesting coin. However, Ethereum can do it much better. Snarks on the roadmap soon in ETH. The main reason why I think ETH has better potential is after Metropolis release is it will be extremely user friendly.
Very good post. Interesting to see I'm not the only one that is thinking about this. The crypto space brings the biggest group of uneducated investors with it. This group will only grow. We really need more insights in the market and previous investment results (even though they don't deliver any guarantee for the future). Do you know this interesting site? https://www.coincheckup.com This site lets you check investment stats, And does a complete background analysis for every single coin. That's tradable on the market.