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Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation
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on: February 26, 2018, 12:55:04 AM
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Sorry for asking twice, but does anyone remember the US$ OTC broker who accepted monero, I think it may have been cumberlandmining.com, but I'm not sure.
If it was cumberland, anyone have experience using them?
I joined Cumberland (is that the right term?) but have not traded with them as yet. I also have the forms for DVTrading but have not submitted them. At first glance, it all seems a little intimidating. You connect via Skype to a global trading room and make your order, I guess. At a minimum of $100,000 per trade, it's not something I'm going to do until(if) the price gets higher. Thank you. |
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation
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on: February 26, 2018, 12:54:26 AM
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Sorry for asking twice, but does anyone remember the US$ OTC broker who accepted monero, I think it may have been cumberlandmining.com, but I'm not sure.
If it was cumberland, anyone have experience using them?
It’s DV Chain. Both DV Chain and Cumberland will trade Monero. Don't expect much hand holding from either of them, however. Thank you. |
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation
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on: November 29, 2017, 12:05:45 AM
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Does anyone know cardano coin? It just jumped over Monero at coinmarketcap
Well, it's PoS and almost all of its coins are already in circulation...not good signs. On the plus side, all time $ value for XMR. On the negative, we are out of top 10 for some time due to bitcoin gold getting included in the ranking, Ethereum classic nearly doubling, and something call Cardano popping into top 10 after going 3x in last 7 days... Oh well, I'll take the all time $ value for XMR! Edit: Oops, back in top 10! |
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation
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on: October 04, 2017, 01:19:35 AM
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Excellent data, and because I like histograms:  Ohh that's seems to be so positive. Didn't see this photo before! Made me hopeful about that! Blast from the past to see a graph I put together more than 3 years ago. How on earth did you find it? But I'm not sure of the relevance of that old data to much today? And, in case not obvious, all of those BTC / XMR figures should have "0.00" before them - i.e. "400" refers to 0.00400. Back in the day, those were the decimal ranges we were used to.  |
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation
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on: September 07, 2017, 12:32:18 AM
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There is somewhere between a 99 and 101 percent chance that monero will be illegal someday. Plan accordingly. The good news is none of us have any monero. We all lost it in our boating accidents.
But why would I bring Monero onto my boat, it doesn't have the same stabilizing effect as storing my gold there? I think for Monero the more common risk is theft, fires and floods at your Estonian mansion. |
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation
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on: September 06, 2017, 10:30:27 PM
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Anyone any thoughts on how likely a government level ban (China, US, whatever) is on XMR?
As it grows (in strength, threat and features) is it not more likely to be banned?
Here in the US software is protected by the freedom of speech, so theoretically Monero couldn't be banned here in the US (it's also allowed to skirt some laws because it's not a "real" currency but a digital asset). -- As for China I have no idea, although I can probably guess they'd ban it if it were to start get in their way (although that isn't to say that it would actually stop the Chinese from using it). I think the freedom of speech issue relates to actually publishing the code and making it available, not using it. So maybe you could publish software that is designed to download child porn and be protected, but the person running the software doesn't have that defense. Same with Monero. Government could pass laws preventing individuals from using anonymous cryptos (or all cryptos). Or, they could try and use established law to argue that anonymous crypto by its nature cannot comply with existing AML / KYC. |
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation
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on: June 06, 2017, 09:59:52 PM
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Monero probably isn't going to be added to Coinbase anytime soon.
I was listening to a talk from Charlie Lee (who works at Coinbase). He was talking about LTC and the potential of getting it added to Coinbase. Anyway, he mentioned that LTC volume on GDAX (exchange owned by Coinbase) has to be consistently high enough before Coinbase would consider adding LTC.
Monero isn't even listed on GDAX. That will probably have to be the first step.
Why does Coinbase only list coins that have high volume on GDAX? Cause they don't want to rely on / go to a 3rd party exchange to source their coins.
Not sure what you are talking about. Litecoin is on Coinbase as well as GDAX. Maybe it was added to GDAX first, but it doesn't really matter. If you create a Coinbase account, you automatically have a GDAX account with same banking info for funding. Only difference is GDAX operates more like a Poloniex type exchange - you place bids and asks, while Coinbase gives you a simpler interface / flat rate based on total being sold or bought. And Coinbase has higher fees. So maybe they listed it on GDAX first until they had enough volume to be able to manage the Coinbase flat rate. But, regardless, listing on GDAX would be incredible news and open an easy dollar purchase option for all Coinbase / GDAX clients. Still, I'm skeptical of it happening anytime soon, given their IRS litigation. |
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Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - A secure, private, untraceable cryptocurrency
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on: May 25, 2017, 06:09:58 PM
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Epic post! The butthurt and salt everywhere prove how badly this needed to happen. Hitler Reacts to Fluffypony's Monero Announcement https://www.youtube.com/watch?v=L2WfedZG7boSo many entitled little Hitlers dead by their own hands in their basement führerbunkers today.  Monero needs and will miss the Whiny Ragequit people as much as Bitcoin needed and misses Mike Hearn and Gavin (IE, Not. At. All.). Burning out the diseased morass of deadwood and detritus make the Monero forest flourish, just as Bitcoin has done under Core's unyielding, principled leadership. That was one of the better Hitler reacts videos. I thought a mobile wallet was being released. Or at least a stable GUI. But we get another Barolo meme instead. He took a selfie with a bottle of Barolo! |
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Alternate cryptocurrencies / Altcoin Discussion / Re: Crypto Kingdom - 1991 Retro Virtual World(City)
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on: May 19, 2017, 10:28:50 PM
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ANN:
I AM in the process of gaining access to some of my financial resources. The following passport-selfie has been sent to Poloniex, to (hopefully) unlock my ~BTC1k of value there:
[...]
Good practices command to taint these sort of verification pictures by superimposing in various places, things like "For poloniex verification only" and the current date, so that if somebody gets their hands on this, they cannot try to stole your identity for whatever. Especially relevant when you post it yourself over the internet.(emphasis added) Oh no, is this the setup for another theft / flood / fire? |
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation
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on: May 18, 2017, 02:08:30 AM
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They took on five or ten times as many customers as they could handle. And that's a thoroughly unsound, irresponsible way to do business.
They took on every customer they could when there was the demand, and then tried to figure it out... something pretty much every startup out there would do as well if given the opportunity. Along the lines of "Better to beg forgiveness than ask permission." If you want regulated and safer, stick with coinbase and gemini, which also means sticking with bitcoin, ethereum and litecoin. And even then, customer service is pretty thin. |
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation
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on: May 09, 2017, 04:25:29 PM
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To me, bitcoin is very different. When you buy monero, your not selling bitcoin for USD, and then buying your monero with those USD's. Your trading your bitcoin for moneros. Your basis is whatever you paid for your bitcoin. and your profit/loss is whatever you made on the sale (either bitcoin or monero) back to USD.
To me too, but that is entirely irrelevant. What matters is what the IRS thinks. I have spent a _lot_ of time researching this, and my conclusions have led me to declare and pay taxes on all my Bitcoin profits when converting to Monero. The upside is there is less tax to pay when selling the Monero because the basis will be higher. The IRS will rule on this and if it goes the way I think it will go, those who have claimed like kind and declared their transactions as such will face penalties and interest. For those who haven't declared those transactions at all, it could be a lot worse. It's onerous to declare all your transactions, but there is software that simplifies it. You just download your Coinbase or Poloniex logs and it creates the IRS report. I agree with sp_skeptic. And can add two practical examples showing why the direct exchange of one crypto for another (without going through USD) is not relevant. 1. I buy gold, it appreciates. I trade the gold for a car. A barter transaction has occurred, it is a taxable even for disposition of the gold. Doing it with crypto on a fancy exchange doesn't change this. the barter rules was specifically what the IRS referenced when you "spend" crypto to buy something. 2. If avoiding the USD transaction worked, you would have exchanges where you could exchange stocks directly. Even if there was less liquidity and it was a little harder to match your exact transaction, the upside from deferring taxes when trading stocks would be huge. |
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation
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on: March 31, 2017, 03:35:37 PM
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I registered for your game and found it to have terrible graphics & made little to no sense. am I doing something wrong? I didn't even see "buy markka" advertised
The game is not the same as the pump. It's the game that we are pumping and other guys decide if the pump is important, so far they have deemed it not to be. But the (M, EUR, BTC, XMR value registered in the game) is equivalent to $15 million and the game marketcap (M alone) is $12.7 million. Don't care about the graphics (or lack thereof). CK is just like poloniex or any other, except that we don't do KYC/AML. The game is a bonus. In addition to not doing KYC/AML, it seems like CK also doesn't really do crypto. It appears to just be an in-game currency. Or perhaps you are using the inthereum Bobchain. WHAT IS INTHEOREUM?
Intheoreum is a new platform for ultra-centralized applications with arbitrary trust. C-APPS allow people all over the world to conduct transactions, by placing their trust in one man, Bob.
Bob controls a worldwide public record of all transactions and is provably arbitrary. We call this record, the Bobchain.
The only limit on what you can do with Intheoreum is Bob himself. The Bobchain is nothing more than a man in a room maintaining the state of the intheoreum network with Number 2 Pencil technology. New transactions come in and Bob records them. Questions about the state of a transaction go to Bob as well, he responds when he can or doesn't. Bob is chained in a room to ensure maximum uptime of the Intheoreum network.
We briefly considered a more arbitrary model where humans with large computers that waste energy, control wealth and ensure trust, but then we met Bob and he seemed cool and willing to do it. http://intheoreum.org/#intheoreum-10 |
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation
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on: March 18, 2017, 02:55:40 AM
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Monero cant be tainted. If you will use it then Coinbase will have no motive to close your account again.
Y'all are missing the overall point, IMO. Coinbase will never implement XMR. If you think it "MIGHT" then you don't live in the USA and don't understand shit about financial laws ... sorry. thanks. Agreed. Here is the simple example: Dollars can't be tainted. Go deposit $100k of loose bills with your US bank and see what happens. Even better, deposit it in slightly sub $10k increments. |
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation
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on: March 17, 2017, 07:56:27 PM
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Given the fact that coinbase is trying so hard to appease regulators and bureaucrats, I find it very hard to believe they'll ever accept Monero.
You think coinbase LIKES IT that they have to appease regulators and bureaucrats? Or they're doing it because they unfortunately HAVE to do it to stay in business? All that shit they do has a definite COST to them, i.e. it's expensive to gain a new customer: do you think they are happy when they *have to* deliberately throw away a customer's account for no real reason? IMHO seems to me that coinbase may internally just LOVE Monero now, precisely because it's gonna give them a natural way to be easily able to STOP DOING all that shit (at least for XMR transactions, if not Bitcoin/Ether going forward). With Monero, they can say, "Oh, yeah sure guys, we would just love to keep tracking all this stuff for y'all but <snap> seems like it just ain't possible with this-here new crypto and its architecture. Sorry 'bout that. So, tell ya what: we'll track it as far as we can for ya, just single deposit source and withdraw address, I guess, with the customer viewkey here that we'll require them to give us, but anything after that? Sorry, you guys gonna be on your own for anything further about any of our customers that you need to investigate. Guess y'all just gotta go back to old fashioned normal police work again and not make us do all your dirty work for ya any more..." Don't forget that they are fighting in court the blanket request they received for everyone's transaction and personal data. BTW does anyone know how that is going? Not being able to track does not absolve them of KYC. If you show up to your bank with a pile of untraceable cash, they still need to do diligence to make sure the source is legitimate. Instead of blockchain analysis, they do things like asking for the source, validating through tax returns, trading records and other documents. For example, think of all the customers of Coinbase who pull coins out to cold storage. When you pull them back in, it is a simple matter of checking the blockchain to see that they came from Coinbase and are now returning. Diligence is pretty easy. With Monero, isn't it a black box? And I think optics for tax case are terrible - IRS will say to court "Look, they just made it even easier to hide assets!" I don't think they will list it for those reasons. If they do, I think it will come with extreme KYC which will discourage it from being a big market. But I'll be happy if I'm wrong! |
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