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.
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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.
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