Bitmain is mining with new ASICs and is accumulating the reward, limiting the supply. They probably been doing it for a while and kicked off this rally themselves.
Haven't checked but I bet the hashing power of XMR has been growing lately.
Xmr
Aaron Reyes
Liam Cruz
Note they already did this with the previous batch of miners.
XMR is perfect for them to PnD because unlike bcash everything is private, hence regular joes can't keep bitmain's stash under watch for movements.
Camden Nguyen
so this is going nowhere? I've wanted in for a while. trying to play it safe with decent coins after the madness from last year. XMR, BTC, always seem reasonable.
Austin Barnes
volume is eerily low compared to other coins, not sure thats a good thing
Hudson Carter
its just the way she goes
Elijah Flores
first, it's the only privacy coin that matters and objectively best currency with true fungibility and a long-term low-inflation of 0.8% (but is currently deflationary)
BUT this is what's really driving price this week:
twitter.com
and an undercover fed sting operation in which only BTC users were fucked in the ass via chain analysis, something that we've all been calling for years:
theverge.com
relevant excerpt:
>Melendez declined to give specifics on how the department had linked client wallets to drug transactions, saying simply, “there are tools and technologies that law enforcement uses to conduct blockchain analysis.” (Public records show that HSI’s parent agency spent more than $58,000 on Chainalysis tools in the months leading up to the investigation.)
if you don't buy and hold this to 2020 past the tail emission, you're unironically never going to make it.
>t. bought monero @ $7
Leo Flores
Not nowhere. If bitmain is mining again then they'll probably want to accumulate long term and help the price rise however they can. Though right now might not be the best entry for us.
Ethan Gomez
I cant believe people would use bitcoin on the dark web when monero is available. Do you ever get worried US gov would make it illegal? ie not even legal to buy a coffee. only concerning thing about it.
Adam Myers
This, thank you for your service, user.
There's also the fact that thousands of bitcoins were apprehended during a crackdown on darknet markets in the US, so obviously a lot of dealers are moving to Monero.
Bentley Sanchez
It's an OK coin. A label wich isn't applicable for at least 99.9% of the coins/tokens out there