Be patient

BTC is popping off, exchanges are delisting Monero, Monero price is not doing well and everybody is scared as shit. I think people should not be scared as shit and I’m going to tell you why I think that.

First of all, exchanges delisting Monero doesn’t matter. And actually, its 100% expected. For example there’s a post on this sub that talks about ShapeShift delisting Monero, and the title has a frowny face. I don’t think there should be a frowny face on that title. If your goal is to make bank on Monero by having hordes of people flock to exchanges with KYC yet buy a coin that is known for its privacy… seems a little backwards to me.

In general, I don't think it is Monero's time to shine yet. I believe there are some key events that need to happen before Monero can pop off. Or perhaps a better way to phrase it is that Monero will never pop off unless these things happen.

First, in the short-term, the technology needs to improve. We are missing some key pieces aka atomic swaps. Atomic swaps need to be implemented so that we don’t need centralized exchanges for onramping new users. If you think Monero is going to pop off by influx of buyers via KYC exchanges, I think that is foolish.

But even more in general, I still think we are way way way way too early. It might be another 5-10 years before Monero truly pops off (or fails). For Monero to become THE cryptocurrency, it needs to be the goto coin. That will not happen until people become more technologically literate. If the average Joe wants to buy Monero it needs to not be scary or difficult or foreign. These fancy exchanges like Coinbase or even Paypal are trying to make it “quick and easy” but crypto is not supposed to be done via centralized entities like that. It will take time for people to become comfortable with getting into crypto without these centralized entities, or at least taking their crypto off of exchanges.

Another thing that needs to happen is people need to be more concerned about privacy. This will also take time. But its already happening; that's why we're here. Just needs some more time.

People are flocking into Bitcoin now but they are just trying to get “in” before everybody else. But, Monero is what Bitcoin was supposed to be. How can you have cryptocurrency aka "digital cash" without privacy. Its impossible. Privacy (and security) is such an important thing in technology and the Internet. In fact its not important, its a REQUIREMENT. Imagine an Internet without HTTPS. That is simply ridiculous. Imagine pseudoanonymous public bank accounts. Its ridiculous. Well, why would it be any different for digital cash.

In general, if you are looking to make a quick and easy 100x I think you should dump all your XMR and go to the casino instead or start doing options trading. Otherwise, be patient.