I've seen a handful of people mentioning the possibility of XMR overtaking BTC. Is this just XMR fever talking, or is there some rational basis for this argument?
I see the odds of XMR overtaking BTC being close to nil. That said, I believe there's a high probability it could be a strong 2nd, overtaking LTC as BTC's "silver".
I'm certainly not going to say it will. But I will say there is a rational reason to expect that it might. Bitcoin was supposed to be digital e- cash. Cash has to be fungible. So bitcoin has failed to meet that expectation. It is a digital asset. It is not digital cash. Monero is the best fungible digital e-cash contender out there right now. The day people start to worry about whether the funds they are being paid in are tainted. The day they start start to feel that sense of creeping dread that maybe that 20 grand they just accepted as payment for their car could be worthless. That is the day they switch to XMR in mass. Unless bitcoin manages to overcome the politics that are burdening it and find a solution to this problem. Which it might. |
|
|
|
You must factor in that some of the larger BTC Whales are XMR Whales too.
And for those who are not, the hour is getting late. Soon it will not be possible to become a Monero whale. The club doors are already beginning to swing shut. Whats a whale to aminorex? In the long term not just today. |
|
|
|
Sorry if I missed this in the whitepaper. But you cant be scaling well if everyone is monitoring every transaction. Necessarily. That is the problem that needs to be addressed for any decentralized ledger system to scale truly well. So the problem here is that what if someone sends you iota and you dont happen to witness that transaction. Does the sender personally send you a reference to the transaction?
You need to see transactions related to you and to your neighbors in an economic cluster. In Iota you don't need to monitor every transaction though. And what of transactions out side of your "economic cluster"? Or is that just shorthand for saying: Within this cluster of nodes, even though each of us is only watching a fraction of the network, we are collectively watching the entire network and will inform each other if we see anything relevant to other nodes. |
|
|
|
Looks like the dumpers are losing steam (volumes are declining). If we do not find further dumpers, up we go I guess.  I'm just happy and impressed with the spartan like hodling against a rising btc. I wouldn't expect much price increase in a rising btc environment but if it can just hold onto its gains and patiently consolidate we will be riding btc up by proxy. Thatll be nice and make me very happy indeed. |
|
|
|
|
Where did the tokens come from that people are selling. Was there an ICO? How much bitcoin was sent total if there was?
|
|
|
|
|
Ok guys I think I'm convinced. How do I buy in?
|
|
|
|
Let me start by seeing if I'm guessing on the right track.
It seems to me that the ONLY way you could scale to this degree is with a segragated witness style scheme. VERY VERY roughly it seems like the idea would have to be that each node will only monitor a small fraction of the total network, and any time you are interested in a transaction that is not taking place on the part you are monitoring, you will be forced to trust the consensus of the percentage of the network that IS monitoring the transaction you are interested in.
Am I on the right track?
For full nodes it's not true. The scalability doesn't come for free, you have to pay with increased confirmation time. Right. Because in a traditional blockchain so many transactions are clumped togather, the security that you purchase for your own transaction is also a 100% positive externality on every single other party in your block. With a the "tangle" style chain the security externality takes time to propagate out. Its a logarythmic process but even those start out slow. The advantage being, however, that you don't need to concern yourself personally with every transaction. Only the ones relevant to your transaction. The ones that reference you after the fact up until the point that you feel satisfied with the level of security and the history of those units in particular to check for doublespends. Sorry if I missed this in the whitepaper. But you cant be scaling well if everyone is monitoring every transaction. Necessarily. That is the problem that needs to be addressed for any decentralized ledger system to scale truly well. So the problem here is that what if someone sends you iota and you dont happen to witness that transaction. Does the sender personally send you a reference to the transaction? |
|
|
|
Am I to late to go and buy $2500 worth of Monero? or good investment..?
VerY bad idea. And how does a newb with 5 posts get a negative trust rating?? By starting scam on BTC Talk  Staying on topic: Investing in XMR is never a bad idea. Oh, c'mon! It's a totally bad idea right now. Putting money into an asset that went up by an order of magnitude in a few weeks goes against pretty much everything I know. But I am doing it. I don't even need to, I can live for years on what I've made with this coin. But I see a risk/reward profile that I can't refuse. So I'm doing this apparently crazy thing. I just shoveled a couple dozen more btc onto polo and bought xmr. Have you been watching the order book? Monero was a bad investment for 2.5 years. So this is just the correction. Summer 2014 the early adopters paid pretty much 0.003+ for their coins. They have held it for so long time, felt the pain of bitcoin express threaths to destroy Monero, felt all the painful and bloody dumps while the coin should have been rising to 0.01+ levels. So, the current price is still low. In my opinion the fair and stable price currently should be somewhere around 0.10 btc and in 2017 higher and probably 1-2 years from now we can catch bitcoin. If I am mistaken, please do not hold me guilty - it is just my estimations that have a lot of bias of bagholding.  This. Exactly exactly this. This rally is compressed the way it is because 2 years of injustice slowly and steadily coiled and compressed this spring of retribution. I agree... I do think some of these obscene sell walls could be owned by people outside the Monero community trying to squash this rally. I have no proof of it but, it just seems so extreme that I wouldn't expect our community whales to be a part of it. If they are short sellers they are very very brave. I wouldn't be taunting the bull like that myself. Maybe it will work for them. But I don't think its a posative expected return on investment. |
|
|
|
It's dumped again( When should i get in the train? Thinking about to buy 1 000+ XMR. But not sure about the current price.
[XMR] Monero Speculation |
|
|
|
Am I to late to go and buy $2500 worth of Monero? or good investment..?
VerY bad idea. And how does a newb with 5 posts get a negative trust rating?? By starting scam on BTC Talk Staying on topic: Investing in XMR is never a bad idea. Oh, c'mon! It's a totally bad idea right now. Putting money into an asset that went up by an order of magnitude in a few weeks goes against pretty much everything I know. But I am doing it. I don't even need to, I can live for years on what I've made with this coin. But I see a risk/reward profile that I can't refuse. So I'm doing this apparently crazy thing. I just shoveled a couple dozen more btc onto polo and bought xmr. Have you been watching the order book? Monero was a bad investment for 2.5 years. So this is just the correction. Summer 2014 the early adopters paid pretty much 0.003+ for their coins. They have held it for so long time, felt the pain of bitcoin express threaths to destroy Monero, felt all the painful and bloody dumps while the coin should have been rising to 0.01+ levels. So, the current price is still low. In my opinion the fair and stable price currently should be somewhere around 0.10 btc and in 2017 higher and probably 1-2 years from now we can catch bitcoin. If I am mistaken, please do not hold me guilty - it is just my estimations that have a lot of bias of bagholding. This. Exactly exactly this. This rally is compressed the way it is because 2 years of injustice slowly and steadily coiled and compressed this spring of retribution. It didn't need to be this way. We could have had a slow and steady rise at a measured pace. But people in this space often arent concerned with fundamentals until they bite them in the ass. |
|
|
|
Am I to late to go and buy $2500 worth of Monero? or good investment..?
Not too late while we are still below ethereum. We deserve #2 atleast. When we have ethereum parity a that point you may be too late. But who knows. Btc parity and beyond certainly is not inconceivable. |
|
|
|
So etherum classic have the dev?
No. This is the continuation of the original vision of ethereum project. It turns out the devs don't much like the implications of there rhetoric so they forked it. They call their fork ethereum but it isn't ethereum. This is real ethereum but the devs are not to be found here because their professed principles were too inconvenient. |
|
|
|
My comments weren't really meant to bring up this whole discussion as much as they are to point out that there are some people who are going to be inclined to dump the crap out of the coins that they mine while the rest of us look on in horror as the price takes a big tanking. I think understanding it helps one get used to it.
Yes I think this is insightful. Duly noted. |
|
|
|
People should secure their computers.
Sounds a bit like the classic "she was asking for walking around in that dark ally at night" defense . Failing that, every bot node that is helping to secure the Monero network is one less that could be used to attack it.
But yea. From a completely self interested perspective, I don't care if they dump. I would rather miners secure the network and dump than not secure the network. It is good for us that this thing is happening and in no way our fault. |
|
|
|
As I have said a couple times there is a breed of miner associated with Monero who is not particularly interested in the Monero Network itself. They are interested in using as many computers as possible to make as many Monero as possible as fast as possible and then to sell the majority of those also as quickly as possible.
Monero has always had a certain percentage of this breed of miner. The only thing different now is there is more incentive for these sweethearts to help "secure our Network".
Remember when litecoin was "the botnet coin"? In the pre asic days. It was like the bad sibling. Litecoin was scandalous. I havn't thought about that in a long time. Sounds like a description of the majority of miners of all coins -- in it for the money, no.
Hes talking about botnets. |
|
|
|
|
Let me start by seeing if I'm guessing on the right track.
It seems to me that the ONLY way you could scale to this degree is with a segragated witness style scheme. VERY VERY roughly it seems like the idea would have to be that each node will only monitor a small fraction of the total network, and any time you are interested in a transaction that is not taking place on the part you are monitoring, you will be forced to trust the consensus of the percentage of the network that IS monitoring the transaction you are interested in.
Am I on the right track?
|
|
|
|
Does this have a white paper and/or any peer review? I love the claims. I'm totally into the utility and value proposition if it is secure and the claims about scaleability are true. Probably the latter is true because people would notice in about 10 seconds if it weren't. Just the security of this "tangle" style blockchain(ish) thing scares me.
http://iotatoken.com/IOTA_Whitepaper.pdfThanks cfb. Put me out of my misery now. I don't want to have to try to understand a new white paper but if its one of your projects I know I have to. This going to be a long coffee filled week. |
|
|
|
textbook exit pump after announcement of Komodo.
And you certainly aren't here to promote the project you just bought into. Certainly not. I love how the creators of that project think they invented the idea of cramming a myrkle tree hash of their transactions onto the bitcoin blockchain. Adorable. |
|
|
|
Typical shitcoin pump and dump. See ya at 0.005  Bullish  Primer such an idiot. We may correct to 0.01. We arent going back to 0.005. |
|
|
|
Holy Mother of All Profit!  Looking at the price this morning I'm dumbfounded. Was a great late night up swing. Coffee is just hitting my brain and still processing the new price. Glad I'm holding. The only coins I have let go of are for Bounties and Development, and I bought a few of those Silver Monero Physical coins from Cryptonic just as a souvenir. Thanks to everyone for making the Monero community great. Feeling grateful. Welcome to bitcoin 2011 and 2013. So great to be here again . Nothing more fun than threads like these at those brief moments of euphoria. |
|
|
|
|
Show Posts
