The Flippening???!!! But not with ETH
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On May 28th 2021 (<1 week ago), Monero released Atomic Swaps to mainnet. You may be asking, "what does this mean for me?" - well, traditionally crypto trading must use a third party (such as a centralized exchange) to trade from coin to coin. In doing so (at least for the amount of time your coins are held on the exchange) you must also rely on the exchange for security to protect your coins. So you must TRUST your exchange to have superior security against attack, as well as deal with their fees and rules (often times including KYC identity verification), and you must also TRUST the exchange to not dump and run with your (and everyone else's) coins.
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Atomic swaps allows individuals to exchange crypto peer to peer (not necessarily in person), removing the need to use a centralized exchange for swapping coins, even at a distance. Atomic Swaps coming to Monero is a BIG DEAL. Many people invested in BTC are still laboring under the delusion that just because Bitcoin (and other high-cap cryptos) are referred to as cryptocurrency, that this somehow means they are private... eeeehhhhh - WRONG! Even for many of those who are aware of BTC's public ledger and still hodling have been waiting for an opportunity to turn their BTC private without using an exchange. At the very least, most of those people are going to at least swap SOME of their BTC.
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Now - the XMR Atomic Swaps are not exactly user friendly... yet. They are more for techies that understand code, but the easy to use interfaces are certainly on the way. Even though this is the case, XMR has still seen a nice surge since the release, which is no surprise. I would expect this to continue gradually until average crypto folks can use it, then we will see the real pump (and dump of at least some BTC market cap into it)!
Mark it!
Additionally, this is BIG NEWS for Monero too, and the word has not quite completely gotten out yet, about this, and privacy coins in general. I would say "in my opinion" here, but I won't because it is simply a fact, that if a crypto is not a privacy coin, then it is an inferior technology to everything that is, since it is not utilizing the most cutting edge tech available... the most important tech aspect in this case - privacy (only 2nd to security, which is the foundation of all real blockchains, private or not).
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No one wants their finances to be be public - no one. Are your bank records public ledger? Would you like them to be? Do you have BTC or any non-private coin? Case closed.
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Everything being even (which it couldn't be farther from considering the circumstances) - this means at the very least big headlines for Monero in the coming days/weeks. Crypto in the headlines with new tech implementations (especially for such an established project like this one) almost always equals major price increases. I am not saying that Monero will necessarily overthrow Bitcoin (although it seems like it currently has a better shot than any other project has, including Etherium), but I am saying that its pretty much a guarantee that it will take a big bite out of BTC's market cap. The rest of the privacy coin sector will also benefit greatly. The privacy coin arena reminds me of the original crypto market before it got more popular... I wonder why that is? Food for thought.
More Info on BTC/XMR Atomic Swaps
Price Projection & Technical Numbers
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