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4321  Alternate cryptocurrencies / Altcoin Discussion / Re: Monero (XMR) Speculation thread on: August 21, 2014, 03:10:39 PM
I don't use old hardware. I use a virtual machine for my wallets and XP is clean by default.

Please don't think that the unwelcoming answers are from Monero users! This thread is infested by trolls that are paid by other coins. The friendly answers come from actual Monero people Smiley
4322  Alternate cryptocurrencies / Altcoin Discussion / Re: rpietila Altcoin Observer on: August 21, 2014, 02:12:32 PM
POW as an ever increasing resource drain could easily contribute to ruining the planet

Debt "money" (fiat) is the greatest contributor to misallocation and waste. Good thing is, anything is a step to the better in this arena.
4323  Other / Off-topic / Re: The happy BTC circular donation thread on: August 21, 2014, 11:08:45 AM
Now I tried to have all of them listed. Quite many has not yet decided, so I'll send PM shortly to remind! Smiley
4324  Alternate cryptocurrencies / Marketplace (Altcoins) / Re: Monero pizza auction on: August 21, 2014, 08:14:28 AM
10 XMR for the first one to deliver 2 hot sizzling pizzas to Malla!
Unfortunately i'm from the first world and even 10x price wouldn't attract my attention Sad

David, you have the pictures for this one, right?! Smiley
4325  Alternate cryptocurrencies / Altcoin Discussion / Re: rpietila Altcoin Observer on: August 21, 2014, 06:29:43 AM
Money cannot have an issuer that must be trusted.

However could a genuine trustless system even be possible?

Welcome to the forum!  Cheesy
4326  Alternate cryptocurrencies / Altcoin Discussion / Re: rpietila Altcoin Observer on: August 21, 2014, 06:29:01 AM
at the moment we may be forming a very well structured cup-with-handle in XMR, with a buy point of 0040.

Why not 0035?  Wink
4327  Alternate cryptocurrencies / Altcoin Discussion / Re: rpietila Altcoin Observer on: August 21, 2014, 05:32:40 AM
Money cannot have an issuer that must be trusted.
4328  Alternate cryptocurrencies / Altcoin Discussion / Re: rpietila Altcoin Observer on: August 20, 2014, 07:10:24 PM
So one attack vector is forging with timestamps artifiically advanced by almost 15 secs,
and having many nodes disagree on whether the new block is valid or not...

You need coins to forge, a lot of them, that's why it's called Proof-of-Stake Smiley Why would you destroy your own investment if you spent billions of USD to buy up 51% of coins (or 90% of coins when TF is implemented)?

No. You need the majority of stake in any point of time past, to forge all the history of the future from that point of time on. So any group who ever had 51% of the currency/votes/etc. can rewrite the history at will. Or any group that can coerce any group at any point of time. There is also no mechanism to keep track which of the forks is the correct one.

This is called NaS (nothing-at-stake) attack, because you risk nothing in the present (you may have sold your coins already) to destroy everybody.

With PoW, you permanently need a knowable amount of hashrate and still can accomplish very little really.
4329  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 20, 2014, 05:27:43 PM
Itīs a real bounce or a trap?

Depends whether you are trading with 20:1 leverage or not. If not, it is a real bounce.
4330  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 20, 2014, 05:27:02 PM
Next monday (25th) all alt die and bitcoin will moon.

Monero took a head start +20% today... after not even decreasing too much during the whole ordeal Smiley
4331  Alternate cryptocurrencies / Altcoin Discussion / Re: rpietila Altcoin Observer on: August 20, 2014, 05:21:36 PM
AnonyMint seems abosolutely convinced that PoS cannot work.

If he says so, it has to be true. PoS should shut down all operations within 24 hours and go home.

My understanding is that PoS has attack vectors that are not present in PoW, giving the attacker a cheaper way to totally control/destroy the network. On the other hand, even credit cards "work", in a way. Nothing is perfect, even PoW.
4332  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: August 20, 2014, 05:08:38 PM
how'd you know all those bars were filled with tungsten?  oh, you didn't?

AFAIK the tungsten (W) bars are only used in insider operations where you are supposed to store gold (Au) in a vault, but swap them for bars of a cheaper metal, keep the gold in your private vault, and sell paper to the market to suppress the price.
4333  Alternate cryptocurrencies / Altcoin Discussion / Re: rpietila Altcoin Observer on: August 20, 2014, 03:36:00 PM
If you're tired of holding XMR, there's 35k of liquidity at the top of the book on polo right now

EDIT: well, i guess there just aren't any more XMR for sale at this price.  poor bidder.  hope he's patient.

It was there for the whole day. If you are patient (and have 100 BTC), you can drive XMR price to 0.005 without spending a dime in this market.
4334  Alternate cryptocurrencies / Altcoin Discussion / Re: Monero (XMR) Speculation thread on: August 20, 2014, 02:27:35 PM
That is entirely a function of how much capital people are willing to flow into the coin. That in turn is a function of both usage and speculation, so in practice at this point almost entirely speculation, though we are beginning to see the first glimmers of usage.

During the last 2 weeks, I have:
- fulfilled the "20 monero pizza" deal when the former Mayor of Rakvere (no previous association with any crypto) drove 30 kilometres to deliver 2 steaming pizzas to Malla;
- paid a part of our chef's salary in XMR;
- paid a part of our waiter's wages in XMR;
- signed a business venture denominated in XMR, paid my share in XMR;
- sold some XMR for BTC, OTC;
- tried to buy some similarly, but was defaulted upon (thanks escrow);
- decided to accept XMR for everything in Malla, in equal terms as BTC.

Not bad for a currency without any usage whatsoever... Wink
4335  Alternate cryptocurrencies / Altcoin Discussion / Re: Monero (XMR) Speculation thread on: August 20, 2014, 02:01:05 PM
Very hard to say.  Cheesy
4336  Economy / Games and rounds / Re: 2014 USD/mBTC Price Prediction Contest on: August 20, 2014, 01:53:08 PM
sorry guys i forgot to put numbers in this month. hopefully I'll survive! although with the bullishness of my previous guesses it might be tight!

OK now as this issue is settled, I get to dissect all your predictions and publish the orange numbers and the leaderboard. Tomorrow!

 Roll Eyes
4337  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: August 20, 2014, 11:24:21 AM
BTC is a safer bet than gold imo

Not safer. It has a higher risk of going to zero. Much more +EV though.
4338  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 20, 2014, 11:12:56 AM
If you're going to accurately compare Bitcoin and Litecoin, then look at the LTC/BTC exchange rate instead of comparing them both to USD, which is irrelevant to the comparison.

How is this so?
4339  Alternate cryptocurrencies / Altcoin Discussion / Re: Monero (XMR) Speculation thread on: August 20, 2014, 10:37:22 AM
Now there seems to be a lot of manipulation.

- If you want to remain sane, look only at the daily VWAP. They tell that the bottom was reached Sunday, and since that, it has been going up daily.

- If you want to make money, make markets (putting both bid and ask orders a little bit away from the spot). This way the manipulators' volatility becomes your gain.
4340  Alternate cryptocurrencies / Altcoin Discussion / Re: Monero (XMR) Speculation thread on: August 20, 2014, 09:05:27 AM
26k XMR buy wall @  0.00358. Also the total ask dropped to 124k, which was around 200k in the recent downtrend I recall

The bids, asks and walls outside the current market (more than 10k xmr away) matter nothing.

The recent buyer who bid the market up 10% and set a huge wall to defend the gains and buy more, is very meaningful. If the wall does not budge, it will probably never get filled. But it may be that a dumper feels this is the way to get rid of the coins at a good price, in which case it would get sold into, triggering a fall but solidifying the economy (stronger hands).

Also, in a more insidious level, this might be an accumulator whose market idea is to give the market hope, then sell to his own wall in a repeating sequence while getting also others to sell and set up an avalanche back to the 3 area where he could buy more. But I think the market is too tapped out for that. The last volume to buy was when defending 334, and the dumper smashed us all. But see - we are already ahead!! Smiley

The developments just now are difficult to interpret, but my call that bottom would be felt last Sunday is still in force. (Some may confirm that I laid out my prediction already a week in advance, but then it was not public yet.)
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