Other capital goods for Bitcoin Profit

As with all other capital goods traded on the stock exchange, the Monero share price performance is dependent on two fundamental influences:

The development of the industry as a whole

The performance compared to competing products
Crypto currencies made a major appearance in global stock exchange trading in 2017. This was partly due to the entry of institutional investors and media hype. In 2018 we will see a consolidation of the big players on the one hand and a large number of new competing products on the other.

The rise in the Monero share price in 2017 can also be seen in this investment environment. Thanks to its unique selling point (protection of private data), the XMR has prevailed over a large number of competitors and performed better than the industry as a whole: Only a few Altcoins have achieved a market capitalization of 7 billion.

At the end of the first quarter of 2018, however, the Monero experienced a special hard fork: The mining algorithm was fundamentally changed and some imitators used this to place their own coins (such as Monero Classic, Monero Original,…). The associated uncertainties have led to price losses.

Monero share price rises
What does the Monero course depend on?
The price of a crypto currency depends on the trading volume – this requires trust – and this in turn only exists with solid technology. In terms of technology, the Monero has been a showcase project in three directions right from the start:

Flexibility and security of the Bitcoin Profit algorithm

Comprehensive protection of privacy

Data protection was and is the outstanding feature of the XMR and is Bitconi Profit constantly being further developed. With the introduction of RingCT (Ring Confidential Transactions) signatures at the beginning of 2017, the sender and the amount of a transaction can no longer be traced. After completion of the current project Kovri, the Internet traffic will also be encrypted.

The hard fork in March 2018, which caused some uncertainties, had one main goal: to change the basic algorithm in such a way that specialized mining hardware (ASIC) does not bring any advantage for large server farms. The background is that the concentration of Monero Mining in the hands of a few represents a long-term security risk. With the Hard Fork, newcomers to CPU mining are again preferred.

Technical basis for Bitcoin Trader

The trust in this technical basis and the development potential finally prompted the entrepreneur Bitcoin Trader and Monero fan Naveen Jain to found the Coral Reef project, which attracted some media attention.

The project is now supported by numerous music greats, such as B-52, G-Easy, Lana Del Rey, Sia, Backstreet Boys, Scorpions, or Mariah Carey, and this trust is ultimately also decisive for the remarkable course of the Monero 2017.

The Monero Course since 2014: A long approach with a highlight

The Monero was put online in 2014 and took some time to appear on the radar of the major trading platforms. The XMR exchange rate was under one and rarely over two US dollars for a long time. His success and his long approach probably have the same reason: technical focus on data protection.

Bytecoin was initially the crypto currency that provided privacy. As there were more and more indications that the people behind it were working uncleanly, a small team with the Monero finally split off in 2014. Other digital currencies, such as Dash, have now addressed the security issue well and largely covered the demand potential. And it was only when these came under criticism (bad code for encryption and infrastructure) that the XMR gained attention.