Now... Imagine that bitcoin and crypto (and Monero) is about to take our civilization the next order of magnitude up, and the apprehension you feel is justified. This is what the *whoosh* part of an exponential (or maybe even hyper-exponential) curve feels like, and we are lucky to be part of it.
This has been an idea I have been speaking about to friends for a long time. They generally laugh and scoff when I say that the advent of cryptocurrency, when in full bloom, will be seen as an event in human history at least as important as the internet itself. Being a subset of, or dependent upon the global network, it cannot arguably eclipse it entirely, but since it will be the store of human value it's fundamental nature raises it's importance quite a bit. Cryptocurrency is the progeny of the internet. But the child may in time rise to heights not possible for the father. We naturally underestimate the vast importance of money. All of us playing tiddlywinks with the future here on bitcointalk will look back with amazement saying "if we only knew". The game we play is to uncover the clues to what will eventually be seen as inevitable and impossible not to have happened. It is a very valuable fog we wander around in here, now in the present.
|
|
|
Does anyone think Andreas Antonopolous will ever get pissed that we stole his hairline for the Monero logo?
|
|
|
The problem with the above is that if Bitcoin gets dethroned, all of crypto will experience a massive depression that could last quite a long time (10yrs or more). The reason is simple: we have not yet convinced the world that a crypto-currency can be a long-term value-store. We're still fighting that battle every day, and one of the main objections to the idea is that bitcoin is actually not scarce due to the existence of alts. I assert that if an alt, even some theoretical magic-alt with greatly superior tech, eclipses Bitcoin's market-cap, it'll be synonymous with the market-cap of all of crypto dropping by 50-90%, and staying there for a long time.
Ah. what wonderful discussion... thanks. The flaw in this is that crypto is so much bigger and more compelling than any one brand. Nothing can stop it really... What it becomes is going to be hashed out and at the moment Bitcoin leads the pack, and I agree if it is somehow displaced that will have chaotic effects. I agree with your conclusion though. There is room for Monero to gain #2 status in time, and it's unique features allow it to have a symbiotc relationship with Bitcoin.
|
|
|
Lots of activity in the threads and new names getting into XMR. When the demand Vs. emission has a substantial crossover, Better get your telescope out. What emission rate are we at now?
As you can see from the posted chart we are nearing the end of double digit rewards.
|
|
|
If anyone can guess how many monero I hold at a specific address I will give them all of it.
88,422 Wow. You're dead on. But what address again? As Changetip said, "Whoa! What happened here?" Did he socially figure this out? No. It's impossible. And I wish I had 80K XMR... but I do not.
|
|
|
If anyone can guess how many monero I hold at a specific address I will give them all of it.
88,422 Wow. You're dead on. But what address again?
|
|
|
Thanks Risto, naka, mac. These are good thoughts. They remind us why we are here.
At the very beginning of my interest in Monero one lightbulb went on which led me to take a stake. It was the idea that Monero offered the cleanest version of a solution to bitcoins privacy problem. Or put another way Monero offered a utility that bitcoin could never really offer and remain bitcoin.
My first impressions of Monero's utility were not as the currency of the black markets as some have seemed to think, but as a private store of value. Monero offered the potential of a private store of value that bitcoin has difficulty doing, and arguably cannot do. I thought of Monero in the anaolgy of being a "private offshore account". A place people could find the freedom of privacy with finances in the realm of crypto currency.
If anyone can guess how many monero I hold at a specific address I will give them all of it.
Good luck.
I liked that the devs saw Monero addresses as "accounts" as opposed to wallets since I think it better implies this functionality.
The other key aspect for me has been the fact that Monero is not "feature rich". It does not try to add a bunch of whiz-bang features to the bitcoin base. It just implements simple, strong, peer reviewed cryptography. A kind of cryptography which offers functionality that, like I said, bitcoin probably never will.
|
|
|
Hi rpietila I don't know much about Monero but will consider getting some, I respect your opinions. Only thing held me back so far is cryptsy doesn't list it. Maybe this is off topic or something so apologies if so but I wondered what you think of Dash? Personally I like it, although I know it is not NSA proof it does seem to bring a lot more anonymity than bitcoin for example.
My 2 cents. 1. Huge, gigantic probably lied about instamine. 2. Too much fancy. It will be exploited eventually IMO.
|
|
|
If Monero and Bitcoin (in a theoretical 2025 scenario) both shared dominance, and it was admitted that Monero clearly had better technology, would it be possible to do a one time hard fork of Monero to incorporate the bitcoin ledger as well, changing the amount of "Monero" from 18 million-ish to about 40 million-ish? An interesting fantasy scenario.
And an impossible one without breaking trust in both currencies. It is tremendously more likely to see the value of one of these coins shift into the other than for them to merge. In the short term that value will want to go into bitcoin. But in the long term, if XMR does not shift ALL its value in that direction the probability of the opposite shift rises continuously.
|
|
|
Yes. Thanks Shapeshift team, and all who helped them know to use the mixins.
|
|
|
Welp, glad I provided a laugh. I guess "downward pressure" would have been a better phraseology, but I get your point.
But counter that, u say 250k coins dumped... i did a recent estimate that 500k coins were emitted since the peak, so your 250 is roughly half of that, and the network hashrate seemed to peek at 17-18... but its now at 14. Its been bouncy recently though. I think I saw 11 again at one point.
But completely disregard my speculations. I don't even know why I pop up in here. Mainly because the ANN thread gets slow sometimes.
If going back to recent highs of March(0.0043?), around 1.5 million coins have been dumped since then. Mined coins during this time is closer to 500k as you noted. You are trying to explain a dump of that proportion to a 15% hash rate increase for a few days from new miners who eventually dumped. It is just not the case. It is poker, on a daily basis. You just have to learn their tells So. This is the way a market works. Speculators are churning these numbers all the time. When you say 1.5MM coins dumped then you have to say that also means 1.5MM coins bought. Why are you mad about a liquid market. I am glad there are both buyers and sellers. Your opinion seems to be these 1.5MM coins have been sold by "old bitcoin hands" into bag holders. That implies a fairly polarized view of who is trading here. Evil geniuses and idiots. If there is a conspiracy please shed more light on it for us.
|
|
|
Update!!
Well I lost it all. My hard died on me. I was able to sync with bitmonerod (thanks for the help by the way). However, my .keys files went down with the hard drive... 534 Monero's!! almost a year worth of mining down the drain.
Well, i still have 1.5 KH/s worth of mining power. Back to the drawing board....
Word of caution to all - BACKUP/SAVE your stuff! Don't be me!!!
Terrible news. You might want to save the dead hard drive. If there is a "moon" event, taking a shot with an expensive data recovery service might be worth it. Those companies cost too much. I looked into it. It costs around 250 dollars (US) and I lost about 1 BTC worth. I might as well just start mining again. on the plus side, on a pool I mined 1 XMR since yesterday Not sure you read his post carefully. Say monero goes to $25. Is $250 worth the risk to recover 534x$25? That's a question for you to answer. But how much does it cost to put the broken hard drive on a shelf until monero is worth $.00003 or $25.00?
|
|
|
Where in that post did I mention fairness?
I'll say it again. If you want a direct financial payback for your work, just buy coins, and then work to make them worth more. It's maybe "not fair" that you got in early and cheap, but I fail to see any reason that model doesn't work.
Bingo. Same thing here...
|
|
|
Anonymint can buy/mine coins and contribute to the project to maximize their worth or get involved in a periphery project--same as everybody else.
This is the thing. At the moment Monero are cheap. One can own a good chunk of future potential for little investment. The idea that there should be those who do not participate in the risk is foolish.
|
|
|
Pull request sent. Updates done. Capslock, thanks for keeping the scores!
Thanks. I am glad to have a little part I can contribute.
|
|
|
volume seems pretty dead to me. get ready for sub 0.001 coins Get ready for the final upcoming monsta dump Monero seems more and more like a failed project to me. I am not so sure if i ever will rebuy this coin
oh oh dosen't look good i guess we will see at least sub 0.0010 prices soon I doubt it will go down to 0.0005 but we could test 0.0009 very very likely
(No Fud)
seems like we are still in a downtrend
how low do you guys think we will go?
The charts are looking indeed really bad. Now i think even numbers at sub 0.0010 are very possible imho
See you guys at 0.002 Sold all my XMR. i will buy back at 0.0020-0.0015 do you guys believe we will drop below 0,002 ?
Seriously. I know "don't quote the trolls", but what about when it is funny? You really need to try a different game. You are very bad at this one. HA. Oh and to keep this on topic... I persoanlly am betting XMR price is building a little base here. I would be happy to see it consolodate for a while. I am cautiously buying small amounts. I do think there is a chance we see more lows as it doesn't take very big dumps at market to move the price. However that works both ways. Monero's fundamentals are still strong.
|
|
|
In my experience, the cryptos have very large price swings. 100x up and 10x down is normal.
When faced with these swings, you should consider the following question:
Does the increase/decrease in price cause the Expected Value of the investment to go up/down proportionately more than the extent of the move?
If it does, it makes sense to buy after a move up, and sell after a move down.
If it does not, it makes sense to buy after a move down and sell after a move up.
I believe cryptos are like most other investments, so that the change in price does not cause a larger change in fundamentals.
Therefore, if the only thing that changes is the price, the lower price is a better buying opportunity than the higher price.
Yes. I always tell myself the swings and the risk are part of the admission price. There are some small ways to exploit them too though my strategy is fairly conservative.
|
|
|
|