Hey guys, tell me if I am totally off with my reasoning here: when Bitcoin was spendable mainly on Silk Road, and other dark markets, the higher it went was 32$, right? And then it went down massively. So at 15$ Monero doesn't seem much undervalued, to say the least. Or maybe some of you think the dynamic is entirely different this time and the two situations aren't comparable?
I could add 2 things here when comparing Bitcoin with Monero. 1. Quite many got their BTC really cheap. So they did not really care at what price they will sell since they made huge profit from basically nothing. Some maybe even get them as a gift. With Monero is totally different since price was relatively high from first week. those that hold XMR for over 2 years dont have even x10 profits so far. 2. People learned something from their mistakes. Precisely. The exponential outbreaks that happened back then in BTC was basically unprecedented. Today they're not. People know what can happen...Sorry, will happen.. |
|
|
|
The recent StackExchange victory
What is this in reference to? Only cryptos that have their own stackexchange site are bitcoin, ethereum, and now monero. Wow! What an endorsement.  Not endorsement - but big community effort. |
|
|
|
Yes, that's all good.
But believe me, the sensationalist pieces will follow -- that's not being either pessimistic or contrarian, simply experienced with the print medium. Its the obvious angle for editors to spice up a dry tech/economics story.
In some ways its not a problem, it simply reflects the same rite of passage BTC went through -- and of course it does mean a lot of writers are going to have volte face on how they describe BTC (ie they sold it to the masses as anonymous but hey turns out it isn't).
I wonder if the smart editor would pick a different angle. I mean, what bitcoin went through has been done so many times now. It's really beating a dead horse, and I just wonder if that's a good sell for a news-outlet. If I was an editor that only had page-views / newspaper sales and a happy board in mind, then I*m not even sure I'd choose that whole approach and sell again. But I am giving them too much credit... Smart editors....ha ha ha "If it bleeds, it leads"....similarly sex, crime and drugs get eyeballs. Also, most editors are in thrall to their proprietors' political views/ambitions. This (XMR) is low hanging fruit for rightwing news outlets. Way, way too much credit  My point is: a tsunami of these stories is swelling on the horizon but don't worry, in the long run it will be good for XMR. haha.. yeah, there's hardly any, if any at all, stories like that on bitcoin anymore. |
|
|
|
Yes, that's all good.
But believe me, the sensationalist pieces will follow -- that's not being either pessimistic or contrarian, simply experienced with the print medium. Its the obvious angle for editors to spice up a dry tech/economics story.
In some ways its not a problem, it simply reflects the same rite of passage BTC went through -- and of course it does mean a lot of writers are going to have volte face on how they describe BTC (ie they sold it to the masses as anonymous but hey turns out it isn't).
I wonder if the smart editor would pick a different angle. I mean, what bitcoin went through has been done so many times now. It's really beating a dead horse, and I just wonder if that's a good sell for a news-outlet. If I was an editor that only had page-views / newspaper sales and a happy board in mind, then I*m not even sure I'd choose that whole approach and sell again. But I am giving them too much credit... |
|
|
|
I did a little research, because mostly this price surge is argumented with DNM's getting in the currency, which i still do not believe. On Alphabay in median 1,9% 2737 are accepting XMR in drugs and chemicals from total 136877. On Oasis in median 6,9% 264 are accepting XMR in drugs and chemicals from total 3813. The last 0,018 hype on polo had over 100k BTC volume, with now residing somewhere at 0,014 with ~24k BTC volume. So if 3001 vendors are responsible for over 100k BTC volume, every vendor in median had to have ~33 BTC for playing wiht XMR, now somewhat around ~8 BTC each if every vendor is actively trading --> possible but not likely.Why, simply because these 100 BTC to 800 BTC buy walls would to have been built, in median, buy more than one vendor at the same time --> possible but not likely. Even if, let's say 10% of the active vendors are actively trading with the new XMR (multiply the figures buy 10) which i still do not believe, this would be more unlikely to happen at the same time on the same place. The lending figures intensify my claim and theory of a single entity playing around and making the market to the contrary argument of "natural" growth  Think about it That is completely disingenuous. Going from 0 to those numbers do absolutely mean something. I appreciate some statistics, but you gotta be less disingenuous in the way you handle the data. 2737 are accepting XMR. That is an increase of 2737! How many of the 136877 are active, or have been active within the last months? At the same time you ascribe ALL the volume to vendors trading. Dude. Come on.. Most if not all people in this thread are either speculators, holders, spectators or somewhere in between and have no connection to those DNM. We know with certainty that many in here are responsible for some of the volume. That's not to say there's no big traders and attempt at manipulation happening, but come on.. |
|
|
|
Lots of investors here waiting for the big boom on September 1st, when (hopefully) XMR will go live on DNMs. Bad news: https://ghostbin.com/paste/kmnzzIf some TOR node operators follow this call and just the 3 letter agencies nodes are running, it's better not to use TOR on that day. Your anonymity may be lower than in the normal internet. Beware! And don't speculate on sudden XMR demand by DNM customers. At least not for this day  not everyone cares about dnms. Or even, most people don't care about DNMs. And even then, most people that do care about it do it for a) philosophical reasons and b) that if DNM can be "protected", so can those who seek freedom from suppression. |
|
|
|
Does China care about Monero at all?
No, Chinese people do not care about transaction privacy, untraceability and unlinkability. And they certainly do not care about bonkers speculation to the moon. /s But if they really don't, they might soon (tm) |
|
|
|
Besides, until we have no market for turning XMR in $ or €
Won't be long. The countdown has started. (No inside info here, just stating the obvious.) While I of course agree that XMR has nowhere near the POW security that Bitcoin has
I don't agree (largely echoing sammy007's comment). The more centralized the mining with the more barriers to entry, the less efficient a mining network is in converting raw hash rate into real security. Raw energy burn is only a small part of the equation. It is more accurate to say that it is difficult to compare the security of the two because they are quite dissimilar in nature. Monero's security in practice is quite significant. Someone on reddit asked about building a 500kh/sec mine. That would require about 500 or more devices (higher-end GPUs or CPUs) and still only be about 2% of the network hash rate (which will likely rise significantly if this repricing is sustained). Already and for some time Monero's network has ranked among the largest supercomputers and with the repricing may soon surpass all supercomputers. There is no "easy" attack on Monero's hash rate possible or likely. That's a very good point smooth. The only metric I was talking about was hash-rate - not who owns the hashrate. |
|
|
|
Checked on Alphabay to see how Monero is doing there. Its not even begun and there are 75 pages of items from sellers that accept Monero, lots of them are accepting Monero ONLY. No need to brag any more, image is worth a thousand words http://imgur.com/a/nkOQr That's a great sign! With all of the old DNM's being busted by the fed's, this is a good indication that the rest of the markets will follow alphabay. Also, is there any point in holding bitcoin? Or maybe reducing the core holdings of bitcoin and increasing the monero position. Although I like Monero, please remember that it has not even a fraction of the proof of work protection and security of bitcoin. I've long considered that there will be one dominant "transparency coin" and one dominant "privacy coin". I realize that Monero offers the option to be transparent, but I doubt it will ever catch bitcoin in that realm. Also the proof of work security promise of bitcoin will not likely be matched with Monero. At a glance I would estimate that bitcoin could aspire to the level of the "above ground" market and Monero might aspire to the level of the "underground" market. While I of course agree that XMR has nowhere near the POW security that Bitcoin has, I disagree with the other things, because the use-case for private transactions are plenty full in business settings. As a business you don't want competitors, customers, suppliers, insurance, NGO's etc. scrutinising your books (hence privacy) - but you would want to give authorities and auditors viewing access, but not spending access (hence view-key). It also doesn't matter if XMR matches the BTC POW, as long as it is strong enough on its own (and it isn't yet). |
|
|
|
What's Monero's problem? None at all really, there are just a lot of shitcoin scammers and their sock puppets (most of the posts on this thread probably, and the other one run by one of those scammers where my replies are selectively deleted) who hate us, and that's a sign we're doing something right.
No smooth there is another problem. Monero has this attitude that they are the shit and every one else is shit. And your community disrespects those who have supported Monero. I took so much abuse from Shen-noether, iCEBREAKER, and various other members of your community. Now it is time for payback. Do you really think I would post that I have a technical solution to eliminate the simultaneity in CoinJoin if I don't. Sheesh. You need to teach your community that I am legit. I am really disappointed with your shit community. So now I am shopping around for someone who can take my technical idea and make it a Monero-killer asap. So I can teach your community a lesson that they deserve. "Who are Monero"? How can a crypto-currency have an attitude? What makes one a member of the "Monero Community"? When does one speak on behalf of one-self, and when does one speak on behalf of the community? "Your Community", it makes no sense? Individuals come and go, and come in contact with Monero. Doesn't make them part of the community, doesn't make them not part of the community, and certainly does not make them able to speak on behalf of "The Community". With the same logic because of your interactions with Monero in any capacity that makes YOU a member and part of the Monero community. What's the difference between a "Community Member", and a "Monero Supporter"? |
|
|
|
I've had one bitcoin lent for 30 days and it's pulled an extra .1 btc. Hit the lending market right and you can get lucky. Wish I'd realized that six months ago and I would've minted a pretty nice sum.
Exactly! My first teeny loan of BTC went at 0.055%. As I write this, the low offer's 0.0483%. The rates are actually higher than the ones for Ethereum right now. When you think about it, the Loan Market is a HODLer's dream! Not only do you get paid for HODLing, but also (if you're reasonably good at timing the market) it encourages you to buy-and-HODL more when the sentiment's gloomy. The worse the sentiment, the higher the loan rate (to short sellers). Add the theory of contrary opinion - "buy when the blood is running on the streets" - and you've got a sweet setup. Lending out is not a "hodler's" dream. Having it on an exchange is not exactly hodling. But if you want to make some xmr like this more power to you. |
|
|
|
Making a good luck post here on page 777. Here's hoping we hit a jackpot on Monero price as more GPU miners turn their attentions towards the network (making us stronger) and more Bitcoin maximalists realize we are an opportunity not seen since the original Blockchain back in 2009, giving us social legitimacy.
The future is bright here in Moonero land.
The boat should be closer to the moon, then you have a space yacht. And everyone should have the goal of a space yacht--what's the point of the moon if you can't cruise around in a space yacht? I fear too many will lose their monero in terrible terrible space shuttle accidents!  |
|
|
|
|
Can you make a view-key from the mnemonic seeds,easy?
|
|
|
|
Is it a sure sign of becoming insane when you start to enjoy the TrueCryptonaire postings?  I'm asking myself this question as well since some time. I've put my definite answer on hold, waiting for him to switch to whatever direction is opposite to mine. (so basically, when he becomes uber-ultra-bearish). I speculate I'll enjoy less then. This meta speculation is becoming too much for me to bear. Bear? Who said bear? BEAR?! BEAR MARKET? SELL SELL SELL!! |
|
|
|
Edit: Deleted in shame because I was wasted and stupid. Sorry.
I think the collection phase is over for good. 1. ..and we only had 2 years.... 2. 1$ wasn't "collection phase" in bitcoin? |
|
|
|
A great buying opportunity now in XMR.
In moments like these of a small breathers it is time to reload the bags full of treasures.
It is a sign of a bear market when XMR is rising "only" 24 % in 24 hrs.
For all the shit people give you, deserved or not, you often make me lol. I think you're also having a pretty fun time.  Sometimes I think you're just hitting a button on a statement generator and more often that not sounding like a bot. But still, it's good fun! |
|
|
|
Then there is of course the adaptive blocksize limit and tail emission. Such news, much wow. |
|
|
|
I beg to differ. What he is doing is great imo. He lured in many many shorts (that could very well be called in a flash) while showing that the market is strong, doesn't falter easily. volume is consistently more than decent with higher and higher floors. It's inconspicuous too, all eyes are on the pig pumps and XMR just keeps pressing upwards.
The community is strong and united, churning out ideas and projects, and every day more people join. Good vibes!
TLDR: XMR rocks!
Yes, it's nice to see the ecosystem growing in many places. |
|
|
|
Ok, As a intellectual exercise lets say your goal is to lose as much of lenders assets as possible, how would you do this and what would it cost (for optimal effect)? As an aside what could you do to hedge this action or even benefit from it?
You are asking how you could damage the lenders intentionally? You could do it, but I don't think you could profit on it. You would need to take them up on their loans, even at extremely high interest rates - really create a lending frenzy. Use those loans to set up elaborate sell walls near-the-money. Ensure you have only minimum margin requirements in this account #1. Then, with account #2 you could have to place a titanic buy order, eating through all your self-errected near-the-money walls at once and skyrocketing the price by a major % amount. This would liquidate your account #1, and force Polo to try to repay the lenders. But since your account #2 is still driving up the price an irrational amount the lenders would not be able to be compensated. This would cost you significantly because you would eat the losses from having account #1 liquidated even though you would end up with a substantial portion of XMR in account #2. Or, you could just make one big titanic market buy of something like 2000btc. The shorts would be screwed immensely, and the whale(s) with those stagger-walls would need to recover their XMRd, maybe, if they want. |
|
|
|
I just started looking into monero b/c it appears to be the best anonymous coin and the value that can provide is what made bitcoin what it is today. For those of you that don't know what I'm talking about, you don't need to know.
But there is a legit beef. I'm an IT guy and it is NOT TRIVIAL to do transactions. The wallet is called "simplewallet" it runs via a command line interface (CLI). I tried to use some third party gui "lightwallet" but that is a total joke. It wouldn't even write the config file. After 30 mins screwing with that piece of junk, I gave up.
1. There is no desktop GUI client wallet. I find that pretty poor planning. If you have no GUI wallet, then you have no usage. Someone badly needs to step up to the plate and get that built.
2. The fact it doesn't share bitcoin's codebase is both a curse and a sparkling diamond. B/c it doesn't get some free code from the bitcoin project, the client and updates are slower.
Going back to #1.
MONERO GET A GUI CLIENT UP NOW. The coin is worthless if it requires a CS degree to use a CLI wallet to use the damn thing. Consider who your target audience is. Also explain right off the bat what the viewkey is, the spendkey, and the PAYMENT ID (which I understand is mandatory for some merchants in order to verify a transaction even existed). mymonero.com is nice but you understand the entire purpose of this coin is super privacy. You can't have people viewing transactions on a website b/c there's no GUI client. Bam there goes privacy.
That should be priority 1 while you continue to work on the infrastrature. Get some usage, feedback, and more merchant support. Please. Otherwise the entire effort may be in vain.
There will be a GUI not now but soon. It is actively being worked on with most of the work already done and the rest was just funded. See here, screenshots and every thing. https://forum.getmonero.org/9/work-in-progress/2476/the-official-qt-gui-projectIf you are an IT guy it should not be a big deal for you and I assume your critique is about the wider use of the coin. It is an issue that keeps coming up so that will be reflected in the answers you get here. I'm not an IT guy but an idiot but with some motivation and help from the community I learned to use simple wallet with no problems. As an IT guy you can always contribute to this open source project. Well I just joined the dev team to help in this effort. Instead of just bitching, I'm now gonna take part in hopefully making this GUI a reality sooner rather than later. Absolutely awesome. Good on you. |
|
|
|
|
Show Posts
