Monero: XMR Potential in 2022?! This You NEED To Know!!

Big brother knows what you bought last Summer That’s because if you’ve used any of the Major cryptocurrencies your transactions Have most likely been tracked and logged Forever However there are cryptocurrencies out There that are private by design And while they are a dying breed they Are as important now as they have ever Been Today i’m going to do a long-awaited Update on monero and it’s one you don’t Want to miss [Music] This is a message to anyone watching This video expecting financial advice You will not find it here Everything you are about to see is for Educational and entertainment purposes Only contact a qualified financial Advisor if your monetary status is Proving unsatisfactory This channel is dedicated to bringing Content about cryptocurrency to those Who seek knowledge if that is you then You may wish to consider subscribing and Ringing the bell icon too Whether you choose to take that path is Entirely your decision and you must act In accordance with your principles and Core beliefs irrespective of the Opinions of those in authority That is all

Sorry seemed like a bit of a glitch There probably nothing Anywho i want to kick off with a bit of An overview of monero if you know all About it then feel free to use those Timestamps to skip ahead So monero is what is termed a privacy Enhancing cryptocurrency or privacy coin It’s a cryptocurrency that was built From the ground up to be 100 Anonymous Now this is in stark contrast to Cryptocurrencies like bitcoin and Ethereum which have transparent and Publicly viewable blockchains Anyone can crack open a blockchain Explorer and see exactly what is going On In fact the public nature of their Blockchains make them the antithesis of Anonymous By most objective measures cash and gold Are more anonymous than the likes of a Publicly trackable cryptocurrency That’s unless of course you’re using a Cryptocurrency like monero which exists On a blockchain that is completely Hidden You can crack open the monaro blockchain Explorer right now and you won’t be able To see any information about the amount Of a transaction or anything about the Sender or recipient what this also means Is that monero’s currency xmr is the

Most akin to digital cash as it is Completely fungible Each and every coin is indistinguishable From the rest because there’s no Transaction history and that’s an Important point So how the heck is monero able to remain Private and still verify the Authenticity of transactions well it’s All thanks to some pretty bleeding edge Cryptography some of the most advanced In the crypto space today For starters when it comes to those Anonymous addresses monero uses what are Called stealth addresses and yep they Are as cool as they sound Basically these allow for the creation Of unique one-time public addresses on Behalf of the recipient Every single transaction will have a Unique public address that cannot be Linked to one receiving party However and here’s the really cool part It still allows you to publish only one Inward address while having all your Transactions being sent to unique Addresses on the blockchain Now if that sounds complicated then you Ain’t seen nothing yet That’s because monero also employs what Are called ring signatures now this is a Mechanism that’s designed to obscure the Individual signing the inward Transaction and hence receiving the

Funds essentially monero transactions Are signed with a ring of random other Potential signers which ensures that Transaction outputs are untraceable The final piece of the puzzle is that Which hides the amount of the Transaction itself and that’s ring Confidential transactions or ring ct It’s been termed an improved version of Ring signatures a quote multi-layered Linkable spontaneous anonymous group Signature now i’m not going to try and Explain that all here but i will link to The paper by the original creator in the Description If you’re not worried about death from Maths then you may want to give it a Gander Anywho the point is that monero’s Privacy and anonymity are thanks to Insane levels of highly complex tech Tech that has been constantly evolving Since monero was first launched back in 2014 which of course makes it one of the Og cryptocurrencies A cryptocurrency that doesn’t have a Centralized dev team controlling it More a global collection of very smart Open source developers who’ve been Honing its tech for years Cypherpunks with no real promise of Monetary reward pretty noble if you ask Me Okay so that’s a bit of an overview of

Monero however a lot has happened in the Year since i last covered the project so It’s well worth diving into some of These updates in march of last year it Was revealed that greyscale the issuer Of numerous cryptocurrency trusts was Actively considering one for monero This news was confirmed by filings from Earlier in the year which showed that Greyscale had registered a delaware Trust for a monero variant This was considered bullish news at the Time and that’s because as many of you All know buyers of greyscale’s funds are Mostly institutions If grayscale were considering listing a Fund like this then it could indicate Strong institutional interest Now sadly no fund has yet been launched But it’s still being considered According to greyscale’s website Then in july it was discovered that There was a bug in monero’s decoy Algorithm quick terminology mixins Refers to the number of decoy Transactions that are used in a ring Signature these decoy signatures are Used to obscure the true signer as i Mentioned earlier Well according to a tweet from the Official monero account the bug occurred When a user spent their funds within 20 Minutes of them being received This bug would give a quote good

Probability that the output for a new Transaction could be identified as the True transaction However the bug did not reveal anything About the transactions and the amounts All that was required by the users to Avoid the bug being an issue was to wait An hour or more before spending newly Received monero it’s not ideal if i’m Honest but definitely not catastrophic a Hard fork of monero was not deemed Necessary Moving on in august it was announced That the long-awaited monero atomic Swaps were live on the main net this was Something that had been worked on by a Number of dev teams for over a year and As i mentioned in my last monero video One of the most promising of these was The solution being developed by the Folks over at the commit network Now for those who don’t know atomic Swaps give users the ability to convert Bitcoin into monero all on chain there’s No need for a centralized exchange to Broker the transaction i’ll get back to This in a bit Then at about that time ciphertrace Revealed that it had developed some Tools that were able to offer Governments enhanced tracking abilities For monero Now for those unfamiliar with Ciphertrace it’s a blockchain tracking

Company and i’ve talked about it and its Competitors in my video on the topic Which is in the description Now while this may have alarmed some Users many were skeptical that’s because There was no real disclosure of what the Tech was or how it worked It’s quite likely that the tools Referred to were the patents that Ciphertrace had filed a few months Earlier titled quote techniques and Probabilistic methods for tracing monero Now from my reading of it given that These are probabilistic it implies that The tools are able to give a best guess As to the flow of funds but not Establish a conclusive link Not long after this monero tracking was In the spotlight again thanks to leaked Slides from chanalysis another Blockchain tracking company this was a Presentation given to italian regulators Back in september quote Of the cases that chanalysis worked on In collaboration with law enforcement we Were able to provide usable leads in Approximately 65 of cases involving Monero Now of course this statement doesn’t Claim to have broken any sort of Encryption on the monero blockchain And according to justin ehrenhofer a Member of the monero space work group Quote usable leads is very non-specific

And can mean a wide variety of things Moreover there are other questions about Whether the term cases could be quite Broad it could include people who merely Use monero but were caught thanks to Being tracked while using other Cryptocurrencies On to the next update though and that Came back in october when yours truly Set up a monero mining rig to take Advantage of the free electricity in our Office i have a video on our clips Channel of me explaining the process Which i’ll leave a link to in the Description oh and funny story turns out That electricity wasn’t free it was only Billed once every six months Anyways once i mined this monero and Cried about the bill we got i would have Had a hard time converting it into Pounds because one of my most reliable Xmr on and off ramps delisted it for uk Clients That came in november as kraken Disclosed that it would be removing xmr For all users in this country While this action frustrated some of Those monero users here the ceo of Kraken jesse powell explained that it Was not really his choice In response to a reddit post he said That this was because of the fact that Kraken had recently acquired a company Called crypto facilities that granted

The exchange an fca license There was a chance that this could not Have been renewed given the listing of Xmr he said quote we have to pick our Battles and look out for the broader Business in the country It’s unfortunate but understandable you Can’t really blame jesse for taking this Step Now regulators have constantly been Battling against privacy-enhancing Cryptocurrencies and reports like Ciphertrace’s recent trends in Ransomware don’t paint them in the most Flattering light The report claimed that there was Growing use of monero among ransomware Groups in 2021. Similar arguments were made by Chanalysis in its 2022 cryptocrime Report that report highlighted the Extensive use of monero in ransomware Cryptojacking and darknet markets What’s interesting though is that the Same report shows that the vast majority Of criminals still prefer bitcoin as Their currency of choice This does show that monero is perhaps Being a bit unfairly targeted now as an Aside this chain analysis report was Pretty damn interesting and i have a Video on it which i’ll leave a link to In the description for you folks So that’s some of the most important

News and updates that have occurred over The past year some good and some bad Which is pretty well mirrored in xmr’s Price action over the period so let’s Jump into that shall we Around the time of my last monero update Xmr was trading at about 234 dollars I said i was incredibly bullish on its Potential and within less than six weeks It had reached a new all-time high of Over 517 dollars Now of course this was at a time of General bullishness in the market as the Combined crypto market cap was breaking Its own all-time highs Then came a shakeout of epic proportions This was across the board and of course Impacted the likes of monero causing it To tumble all the way down to 200 In less than a week ouch However as the rest of the crypto market Managed to recover and chase new All-time highs monero lagged behind Now i can only assume that this was as a Result of the continual flood that was Being spread combined with those Exchange d listings When you remove liquidity from the Market this will impact the price of the Asset fewer avenues to trade it mean Less price discovery and less certainty Around its future This culminated in monero reaching a

Yearly low of 140 in late january of This year However the tide began to turn in late February as xmr began a sustained Recovery Through march and april it continued its Ascent to break through 280 In mid-april so what the heck was Driving this Well a number of factors first there is The general awareness that bitcoin and Ethereum are not the cryptocurrencies That many thought they were at least in Terms of privacy and anonymity This is especially true today in the age Of sanctions where exchanges regulators And blockchain tracking companies can Easily monitor the movements of most Coins and tokens Perhaps as a result the past three Months have seen positive price action For a number of privacy coins According to this coin telegraph article Justin ehrenhofer the monero dev i Referred to earlier claims that the Price surge we saw about a month ago was As a result of more family funds and Individuals holding monero as a hedge Against the recent geopolitical turmoil This could have spurred that earlier Price action we saw in march However something that’s arguably more Responsible for the price run-up in the Past two weeks is the maneron

Now this was an attempt by the monero Faithful to initiate a run on the Exchanges they all went to withdraw Their coins at the same time and observe What happened now the rationale behind This was the suspicion that exchanges Were running fractional reserves of Their monero balances essentially they Didn’t really hold all of the monero That they were claiming to Of course given the nature of the Private blockchain no one could prove Whether or not these exchanges had said Reserves So the community wanted to make a point Whether they got what they wanted is up For debate but what the moneran did do Was pump the price of xmr not only did People try to buy xmr in order to Withdraw it but there was also the Chance that those same exchanges may Have been attempting to buy it on the Open market as well That’s of course if you believe that They didn’t hold all of it in the Reserves as claimed of course we’ll Never know because Well it’s monero Which brings us to the question i’m sure Many of you are asking where is xmr Likely headed Well that depends on a number of events Over the next few months First up june will see the start of

Monero tail emission now this is the Point at which block rewards will fall To a rate of 0.6 xmr per block and Remain there in perpetuity The goal of this is to make monero a More attractive blockchain to mine as Miners don’t have to worry about block Rewards going to zero This is something bitcoin miners do have To worry about and if you ever wondered What will happen when the last bitcoin Is mined i have a video on that Now mining rewards aside one of the most Important upcoming events is a protocol Upgrade that was just agreed upon a few Weeks ago this is going to take place on The 16th of july It will be version 15 of monero and it Will hard fork at this block height Right here Now there are numerous upgrades that Will come with this hard fork but let me Run through just a few of them firstly We’ll have an increase in the number of Mixins used in a standard transaction As i mentioned earlier these are the Number of decoys that are used in the Ring signature transactions The more mix-ins there are the more Obfuscated it is The ring size will increase from the Current 11 up to 16 which will further Increase privacy it’ll also lessen the Impact of that decoy bug that was

Discovered last year Next another upgrade monero is adding is Bulletproofs plus For those who don’t know in 2020 monero Was one of the first cryptocurrencies to Implement bulletproofs which replaced The previous range proofs There was a dramatic increase in Efficiency on the network as Transactions were much lighter and the Network was much more scalable well Bulletproofs plus takes things to the Next level it ensures smaller proof Sizes faster proof generation and faster Verification with aggregation of Multiple proofs this will result in even Lighter transactions and faster Generation of wallets Estimates of the reduction in size of Transactions are about five percent Now lighter transactions will mean a More scalable chain with lower fees and Faster transactions so what you’ll have Is an upgrade that could make monero More private and more usable something That could really aid in that adoption And further reinforce the narrative of Anonymous digital cash moreover if these Upgrades go as planned then monero would Hard fork again to a second generation Protocol called seraphis and a new Addressing scheme called jamtis sometime In 2023-24 Now these changes are likely to be so

Extensive that they’ve been referred to As quote monero 2.0 So these coming upgrades could have a Positive price impact on monero as more People start buying in anticipation Moreover if the upgrades go through Utility and transactional demand are Both likely to also pick up thanks to How much more usable monero will be Now of course this still doesn’t address The challenge that we face when it comes To exchange support and liquidity It’s likely that more centralized Exchanges are likely to de-list monero It’s not up to them regulators and Global agencies have declared war on Privacy coins and if you want proof of This you can check out my most recent Video on the fat f’s recommendations That will be in the description for your Viewing pleasure Now of course it’s not all bad news and That’s because of these other solutions That will allow monero to be traded Cross-chain in a trustless and Permissionless manner For example we have those atomic swaps That i talked about earlier now i’ll Admit that these are pretty technical And definitely not However there are graphical dex Front-end tools being developed that Should address this If the monero devs can build a

Cryptocurrency disadvanced at the Protocol level a simplistic and secure Swap feature shouldn’t be beyond them Then on top of this there could be Another opportunity for cross chain Liquidity and that’s with the help of Another really exciting project called Thor chain I’ve covered this quite a few times on The channel but its main mo is to be a Trustless non-custodial cross-chain Liquidity protocol It has already integrated a number of Cryptocurrencies as you can see over Here however one that i’m really looking Forward to is of course that monero Integration This will come with the integration of Haven another privacy-focused Cryptocurrency and you can actually see The work that’s been done on thor Chain’s monero multisig implementation i Do so love open source Now it seems likely that this Integration could be the next big thing That drops after that hard fork and i For one cannot wait And that’s it for most of the video Folks although i do have a few closing Thoughts privacy coins are one of the Last bastions of financial anonymity we Have in an increasingly surveillance Heavy world for many people anonymity is Freedom freedom to use money without

Worrying about who might be watching as One of the largest and oldest privacy Coins monero has become public enemy Number one politicians regulators the Mainstream news they would all like to See it brought down or compromised Unfortunately a perception has been Created that one’s mere use of a privacy Coin is tantamount to criminality we all Know the tired mantra if you have Nothing to hide then why worry Now of course these philosophical Imperatives won’t change the trajectory Of the current narrative it’s going to Become that much more burdensome for an Exchange to offer monero when the Regulators start tightening the screws However the hope is that by the time That comes there are already effective Solutions for trustless decentralized Exchange Whether they be directly through bitcoin Monero atomic swaps or whether it be Through a cross-chain liquidity protocol Like thor chain I hope that these solutions are able to Provide monero with the liquidity it Needs in order to thrive Beyond this though i’m also looking Forward to those upgrades nothing is Better for the adoption of monero as a Digital peer-to-peer cash than it being Scalable and usable something that the Hard fork will achieve

We hope If it all goes to plan this could be a Boon for the price of xmr However i will also caution that there Are a lot of risks the macro environment Is not looking good and if we do enter a Sustained bear market in the next few Months no amount of hardcore tech can Sustain crypto prices There’s also the risk that the upgrade Doesn’t go to plan Or that one of those blockchain tracking Firms is finally able to crack the Monero protocol All of these are tail risks that need to Be built into your expected value Calculations all i can say for certain Is that it’s going to be an interesting Next few months And that’s it for my video today folks But i am dying to get some of your Feedback so what are your views on Monero do you have other privacy coins That you prefer let me know in the Comments down below and while you’re Down there i have some other goodies for You my socials page now this has links To all the other places that you can Follow me off of youtube most of these Are verified by blue ticks and they Include My telegram channel my twitter my Instagram and tiktok and of course my Email newsletter where i share a

Breakdown of my personal portfolio as Well as a breakdown of some upcoming Videos Oh and if you’re looking for some of the Best crypto promos in town then my deals Page is right up your street Top tier discounts only for viewers of This channel all down below Don’t forget to like and subscribe and Ring the bell too so you know when the Next video is due My name is guy and you have been Watching the coin bureau [Music] You


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