(From then on it's different, because XMR needs daily demand to absorb the inflation, whereas BTC's price rise is capped by existing holders selling.)
BTC also has daily inflation -- 3600+ BTC/day. That is not peanuts, it is over $2 million/day, almost $1 billion a year that needs to flow into BTC to absorb inflation. Obviously BTC has more existing holders than XMR and therefore more of them selling, but the effect of those is significant for both. XMR daily mining is around 60 BTC, obviously not 100% of that is sold, yet exchange volume during periods of high activity has been quite a bit more than that, so we are seeing existing coins changing hands there as well. Plus off-exchange transactions of course. BTC daily inflation is 0.03% of market cap. XMR's is 1.15%. That is 1.8 orders of magnitude. Also BTC will be making thousands of people rich with a life-changing amount of money when it 10-doubles next time. There is hardly anyone with such large XMR holding (and so little other assets) that the coin's 10-doubling would change her situation at all. It is important to know these differences between coins, although my position is that the price appreciation curves will still look similar, although the source of the selling pressure is different. |
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But I still advice ppl to use buy and cut because you never know if we end up heading down to 0 for some reason.
Bitcoin is special, because every day that it is not immediately and permanently reset to 0, has historically meant a 0.7% price appreciation trend (resulting from increase in adoption). So you are essentially betting that the probability that Bitcoin fails today is less than 0.7%, and you are able to withstand some volatility. |
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Not sure how you got sucked into altcoins  See the OP. |
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I am sure everybody has heard the essential arguments by now; move on.
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In Economics 101, the marginal price, not average price, is where supply and demand meet.
So the simple interpretation is that the marginal price is much higher than being reported on the exchanges, because most aren't willing to sell at any where near that price, thus the volume on the exchanges is insufficient to satiate actual demand. Thus the only way to meet demand is to mine at a much higher cost.
The price in the exchanges is a mirage. There's no way to buy anything at that price. 15 BTC is less than 7000 euros, and therefore peanuts, which supports my castle for about a week, and yet a market buy for that amount would take the price from 0.0028 to 0.0040. As is the case with BTC, currently the price is suppressed, but once any demand materializes, it'll go much higher. (From then on it's different, because XMR needs daily demand to absorb the inflation, whereas BTC's price rise is capped by existing holders selling.) How rare is it for upper echelon programmer to also be an astute economist, marketer, GUI designer, artistically adept, not lazy in the gym or sports, etc? Must be speaking of yourself then. Of those, I only find myself "astute economist". |
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In Economics 101, the marginal price, not average price, is where supply and demand meet.
So the simple interpretation is that the marginal price is much higher than being reported on the exchanges, because most aren't willing to sell at any where near that price, thus the volume on the exchanges is insufficient to satiate actual demand. Thus the only way to meet demand is to mine at a much higher cost.
The price in the exchanges is a mirage. There's no way to buy anything at that price. 15 BTC is less than 7000 euros, and therefore peanuts, which supports my castle for about a week, and yet a market buy for that amount would take the price from 0.0028 to 0.0040. As is the case with BTC, currently the price is suppressed, but once any demand materializes, it'll go much higher. (From then on it's different, because XMR needs daily demand to absorb the inflation, whereas BTC's price rise is capped by existing holders selling.) |
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Once again, to prove my royal birth to the trollbox.  |
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Recovery of monero starting. Rock bottom and (in relative terms) massive wall at 0.002.
How high is it going to go this time? Last top was 0.01, and the last bottom (assuming we are heading up) was higher than the previous bottom. |
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The conception of DRK was illegitimate, I will not buy it for this reason alone.
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Basically, coming from a purely investors perspective.
Monero is the only cryptonote worth investing/buying.
Boolberry's instamine is pretty bad with the PGPU making over 2k boolberry(difficulty dropped) per day now, and was making 5k-7k bbr everyday a few weeks ago....Plus Botnets.. = No thank you
Ducknote reminds me of Dogecoin, there dev is nonexistent, and doesn't really have any work being done
Quazarcoin doesnt really have much work being done either
So that leaves Monero, the only one that has a future..
Monero hatership is also reminiscent to Bitcoin's. That also tells a lot if you want to understand: Hating something does not pay you, so why would you do it? - Not unless you are paid  |
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What a great day to not be invested in any CN coins.
A great day to buy them. You should always buy value, and now there is some serious value available, shame that the volume is so low. As long as we stay above the previous low of 0.0018 in XMR, there is nothing to be concerned about pricewise. And I think we will. |
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I don't know how to upload pictures  Hopefully some of the previous visitors would share theirs. In the last conference, 23 participants from 11 countries were generally satisfied with their conditions, and we are making them better all the time. The Premium rooms are purpose-built to premium hotel standards a month ago. The other rooms are approx. 10 years ago renovated to Euro living standards but their bathrooms are shared. These are undergoing a slight renovation which may be ready before the event. The castle does not (currently) have hotel rooms, they are located in outbuildings. Hope you are satisfied with the explanation! |
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Anonymity has spent the past two days tearing apart Monero. Check out his posts on their thread.
He still thinks it is the best out there, like the rest of us do. |
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My own interests are best served, for the time-being, by the lowest possible price.
If the low price hurts the coin (some aspect of its economy or adoption), then it's not necessary beneficial. But I am not personally complaining. (Trying hard not to divulge how many XMR I bought yesterday and today, since the number is not insignificant) |
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I think both AnonyMint and fluffypony are great guys!
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Since the limitation of the discussion to just 10 coins is problematic, let's continue the quality discussion without the limitation.
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 I have a great privilege to invite you all to Malla Summer Retreat, the premier opportunity to experience The Bitcoin Castle and the sunny Estonia at its best season.
The event length is 11 days to make it easier for you to arrange flights and stuff. You only pay per night, so feel free to join us for any time you wish, to taste the "perpetual conference" atmosphere that is breaking forth in the place! This is the unique opportunity to combine leisure with intrigue, business with indulgence, and spice it up with travels to St. Petersburg, Helsinki, Tallinn, and rural Estonia. The Bitcoin Castle is developing. We have recently constructed 4 new hotel rooms in the outbuildings and set up a kitchen and breakfast/dinner hall in the Manor + the new Cigar cabinet. Our capacity is about 25 guests at a time, which has contributed to the decision to have a longer event. Feelings from the last summit in Twitter 1. Feelings from the last summit in Twitter 2Feelings from the last summit in Twitter 3We have two room classes, Premium and Standard, plus the notorious Bed Only in our Dormitory. If you want to stay in hotel conditions, you are adviced to take a new Premium room with its own bath. If shared bath suffices, the Standard rooms offer good value. Pricing is dynamic according to demand and current prices are shown below in BTC (changed because of popular demand): | Room Type | Thu 07 | Fri 08 | Sat 09 | Sun 10 | Mon 11 | Tue 12 | Wed 13 | Thu 14 | Fri 15 | Sat 16 | Sun 17 | | Premium Romantic Double 25sqm | 0.7 | 0.42 | 0.42 | 0.42 | 0.42 | 0.42 | 0.42 | 0.56 | 0.56 | 0.56 | 0.42 | | Premium Business Twin 20sqm | 0.55 | 0.33 | 0.33 | 0.33 | 0.33 | 0.33 | 0.33 | 0.44 | 0.44 | 0.44 | 0.33 | | Standard Double/Twin 15sqm | 0.33 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.26 | 0.33 | 0.33 | 0.2 | | Bed in Dorm | 0.16 | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.13 | 0.16 | 0.16 | 0.11 |
Our acclaimed Breakfast includes sparkling wine, and is priced at 0.04. Dinner (3 courses) is 0.06. They are mandatory. Grand Dinners are organized to celebrate special events and the excess is paid by the inviter. Lunch is voluntary from the café or local eateries (0.006-0.03). All drinks are billed. The wine cellar has about 40 different wines for all tastes and budgets, ranging from 0.04 to BTC1 and over. The cigar list has 20 cigars ranging from 0.006 to 0.16. NEW: We want to encourage international attendance, therefore we give BTC0.2 towards the drink bill for everyone coming from outside Europe, and BTC0.1 for everyone coming from any country except Finland and Estonia! As has been the custom in the previous Malla events, the event itself is free-of-charge, so there is no conference fee. For booking, PM/contact me and supply your: - name - room type - for which nights you are reserving - time of arrival and departure from Malla, or time for pick-up in Tallinn (where?) and return, if known. Taxi one-way to Tallinn is 0.1 through our shared booking (up to 0.3 from the street and they don't accept bitcoins) - contact phone number (for taxi driver) - preferred contact info for contact prior to the event (PM, email, ..) - special dietary needs - other wishes. Be ready to pay your reservation in BTC immediately after confirmation. The prices include the 10% discount that applies when paying in BTC. We have a webpage also but that is not yet ready and may need to be revamped even before launch... The following guests have given permission to disclose their attendance:
Dr. Choo rpietila rontus oposti (+4 others) |
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Can anybody describe to me perspectives of the Monero?
Sure. Monero has no future, because there’s hardly a single competent developer in their devs team
Which one of them is not competent? I've been in contact with two, and I think they are doing fine. (As usual, you are invited to join, it is open source.) and the market can't withstand such amount of coins
The slow coin generation schedule was my second qualifier for buying XMR. (The first is that the coin is doing something novel and useful, which disqualifies 99% of coins.) Slow schedule means high apparent inflation for long time to come, but that way the coins are distributed to people who have the dough to pay for them, instead of for free to the pump&dump"dev"/"early adopter"(often)scammers, which typically is the case. and it will only get worse in a few months’ time.
How? |
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All cryptos have botnet, XMR is no exeption but it is wrong to think most of the hashrate is from botnets.
Botnets are a limited resource, and their owner tries to make the best use of it, just like the owner of any other resource. (Otherwise you would say schools are evil, because they are often funded by governments that utilize stolen resources.) Now that the price is low, they are probably on an other crypto anyway.
What matters is of course not the price, but the price/difficulty ratio, but you knew it. |
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