This is classic Apple security theatre and using it for Bitcoin is very dangerous because of the false sense of security it gives. Apple's fingerprint security theatre was broken by the Chaos Computer Club over 11 months ago. http://www.ccc.de/en/updates/2013/ccc-breaks-apple-touchid. It is actually far safer to dispense with all of this nonsense and treat small amounts of XBT on a mobile phone for daily use like cash in an old fashioned wallet and simply accept the fact that if the device is stolen then so is the XBT. To secure XBT properly one needs to start with GNU/Linux using an encrypted /home partition or full disk encryption, with a very secure password. Then on top of this one builds proper wallet security and passwords etc. |
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You will be able to tell when Bitcoin is failing because the owner or owners of the first million coins will begin to sell them.
This can happen if all of the following are true: 1) Satoshi is an individual 2) Satoshi dies 3) Upon death there is a tax liability due. This can be either capital gains upon death, estate taxes or both. 4) Satoshi's estate sells the XBT in order to pay the tax liability. |
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Well spotted...can prove anything with an appropriate quote ! Do you think it there's a chance it could have been sarcasm ?
No idea, and to clarify I do not seek to discredit rpietila or monero. It was simply a question. My only constructive criticism is that this thread is looking unhealthy, it's looking very much to third parties as "trust me buy monero now, do it, buy it", people will be reading this and delegating responsibility for purchasing decisions to those trusted members in this thread, and wagering life savings or living costs on this currency. It would be nice to see it change to discussion of technical merits, adoption, and usefulness, with any mention of perceived price-tag current or future limited to impartial observation. Speaking only for myself, there are several members in this thread that I formerly had great respect for, of late they are conveying as shill's, whether intentional or not. I am sure non of you want that, as if anything goes south those people will lose credibility and to some respects be held publicly accountable whether fair or not. I remember reading a reply recently from a former litecoin advocate, who simply felt awful because of how much time he'd spent encouraging people to buy, friends and associates had lost money and he felt bad. I hope none of you find yourselves in the same place. On behalf of many other forum members, please just tone it down a little bit and be a bit fairer, less pressure, nobody needs to buy or sell - more presence from the developer(s) and those working on adoption or improvement would likely be far more beneficial to your goals than the current discussion. Well said. The key question to ask when one sees a trusted person advocating a coin is: Why is this person advocating this coin? Then do your own research. When I came across this thread while researching something else, namely the 1 MB blocksize limit in Bitcoin, that was the first question I asked. Why is rpietila recommending Monero? Then came my own research, and only then came the decision to invest. |
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XMR > BTC in 2015 !!!  Not possible  18m XMR vs 21m BTC, its possible but highly improbable that soon. Well this is just nonsense. Once the next spike happens everything (well most) will go to new heights. Bitcoin will be really far away from the 2nd coin once it happens. It's one thing to be optimistic in regards to Monero, it's another thing to have unrealistic beliefs. The price of Monero seems nice today though. Under normal circumstances I would agree with you; however if Bitcoin chokes over the 1 MB blocksize limit during the next boom, it is quite possible. Most people consider Monero because of privacy, but one must not ignore adaptive limits as a feature in Monero. Adaptive limits on its own can be a game changer, since Bitcoin will have to hard fork in order to remain number 1. |
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Is there a rich list for XMR?
I obtained about 40k back when this coin was still young, I'm curious if that makes me an XMR whale or a small fish.
Does anyone see this coin going back to 60+ price?
Definitely a fairly large whale. |
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1. It worked out well for Linux, it was developed by people giving countless hours to code it and never were paid.
2. I guess we have different opinions on what true worth is.
1. It worked out WAY better for Microsoft and Apple. 2. Now we're talking about "true" worth? What does that even mean? [NTS] Stuff is worth what someone is willing to pay. Actually no. With the exception of the desktop and Apple's share of the mobile virtually everywhere else (from in vehicle systems to web servers to supercomputers) it is operating systems with Linux kernels such as GNU/Linux and Android/Linux that dominate. In the mobile market the latter is literally gaining on Apple by leaps and bounds. Virtually all of Microsoft’s and Apple's competitors from Goolge to eBay from Facebook to Twitter are built on top of FLOSS operating systems. The best part is the financial markets buy or sell AAPL or MSFT on any major financial market and the trade will be executed using servers running GNU/Linux. Yes this includes software originally written by projects started non other than Richard Stallman https://en.wikipedia.org/wiki/Richard_Stallman and this means even Bill Gates has to rely on FLOSS operating systems in order to sell his MSFT shares to fund his foundation. |
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ARM for mining cryptonite/cryptonote coins may make a lot of sense because of the low power consumption.
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Yes the good old days. I actually wanted to sell Solidcoin / Microcash short at the time.
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... At the top, 1 LTC was around 50 USD => possible bubble top for XMR is 250 USD Yes, but this is based on a XBT bubble top only in the 1100 - 1300 USD range. |
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Rest in peace, and my condolences to the family.
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I love this coin for it's innovation but what eludes me is why it never takes off.  It is a top 20 coin (top 10 if you exclude premined/nonmined) in a universe of hundreds (at least) of altcoins. I'd say that counts as taking off. Seriously? It's horrifically user unfriendly and unrefined and it's still in a race with XC, Dark & BTCD. If/when it pulls away and polishes it's features off (doesn't take all your ram, official GUI, etc) it will launch IMO. Doing very well all things considered ... It is very much a "diamond in the rough". The need for a database (the reason for the large RAM requirements), and a strong cross platform GUI come to mind. This has attracted deep pocketed long time BTC holders who are interested in strong long term fundamentals and are willing to spend long hours doing their own research as opposed to just listening to marketing hype. Edit: It will eventually "take off" but then one will not be able to buy at these prices. This is what a lot of the "smart money" moving into XMR as we speak is betting on. |
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I think it has 10% chance to be #1 and 50% to be #2 in a few years.
I can't imagine a scenario were Bitcoin gets surpassed unless it is destroyed for some reason. I think your imagination is lacking. Bitcoin is still tiny compared to fiat as was discussed quite a few pages ago on this thread. If one believes the "network effect trumps all" argument then Bitcoin's network effect is so much vastly smaller than fiat (many, many orders of magnitude), then Bitcoin could not possibly ever succeed at all. Many Bitcoin supporters hedge this by saying that Bitcoin can succeed despite being so far behind fiat in network effect because it can be transmitted electronically, because it is decentralized or some such argument. These are all arguments of the form "system A with smaller network effect can defeat system B with larger network effect if A is sufficiently better than B." A system that is sufficiently better than Bitcoin could defeat Bitcoin in my opinion. What is meant by "better" according to the market, is very difficult if not impossible to determine in advance. To be able to do so would be a form of central planning. It is plausible that better fungibility and privacy (Monero solves this), with better end-state economics (Monero possibly solves this), or perhaps more robust decentralization (Monero doesn't solve this, though the end state economics could help), could be sufficiently better. It is not plausible that, for example, encrypted chat is sufficiently better. Monero offers some critical advantages over Bitcoin that have nothing to do with privacy / fungibility. 1) Adaptive limits. This means no fixed 1 MB blocksize limit. There a significant greater than zero chance that Bitcoin will choke on this, since there is a very significant degree of dissent in the Bitcoin community. 2)1 min confirmation times. Some may say this is too short because of the risk of orphan blocks, but my belief is that orphan blocks is a small price to pay for the much superior user experience. I doubt that regulators will treat Monero any differently from Bitcoin since they will focus on on and off ramps. As for the NSA attempting to unravel ring signatures, or I2P it is possible, but unlikely. They have way easier ways to obtain the needed information in over 98% of cases by just obtaining it from Apple, Microsoft or Google using the PRISM program. |
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First congratulations an an excellent initiative. As for pricing the calls, this really comes down to finding an underwriter willing to do this for a lower premium, under the same terms. Apart from the XMR's strength there is also the possibility of a sharp rise in XBT/USD leading to a sharp rise in XMR/XBT. Writing calls on XMR/XBT makes me very nervous in this market, but there may be others who are interested for a lower premium.
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I am going to quote my post on this from early August and its response since it is still applicable today. My take on LTC is that we are at or near a low with respect to XBT that has happened twice before as a prelude to a rise in the XBT/USD rate. As for DOGE the timing of its release to coincide with an XBT boom is its biggest problem. Thank you for your data mining. That pattern jibes with what I've seen in the gold part of the stock market: when gold's well down the bull track, the major producers go up, the juniors go up a lot, and the few exploration-level penny stocks that capture the punters' excitement explode. Same on the downside, too. '11-'12 saw the majors getting whacked, the juniors getting whomped, and all-out carnage in the exploration-penny subsector. I'm not kidding about the last. The pennies were hit so hard, the Venture Stock Exchange had to officially suspend a rule that prohibits secondary offerings by its listees whose stock price is below five cents. Yes, five cents. Had the Venture board not done so, a lot of viable exploration micros would have had to hire bankruptcy lawyers. I'm quite serious about this. |
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...
Fair enough then! Just for the record, I own ~47K XMR, and I think monero has a great future, and I'm really excited at the prospect of being able to (maybe) teleport XMR around on the BCTD privacy network. I'm very impressed with jl777's desire to try and unite the whole crypto coin community into a 'super network' that adds privacy features to ALL coins. As an investor that makes all coins more valuable, but I'm disappointed some other monero followers seem to have missed that point.
I've been around this forum since mid 2012, and teleporting coins via the BTCD privacy network is the most exciting development I've seen since bitcoin itself.
As an investor in XMR I have spent a considerable time researching the competition particularly those coins that offer privacy in one way or another. As part of this research I have spent a fair amount of time on BTCD. The teleport idea does have merit. The privacy advantages here apply more to XBT or other similar coins rather than XMR, nevertheless the true paranoid could teleprot XMR using BTCD. What I do not like about BTCD is that it is a POW/POS hybrid rather than a pure POW coin such as XMR. For this reason I do not consider it a real competitor to XMR, since I am not convinced of the security of POS. In any event at best it is competing against other POS coins rather than POW coins. |
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Re: summer 2012 - I believe Pirate's ponzi was one of the causes for both price surge and crash.
Anticipation of Dec 2012's reward halving might indeed have been another cause of the rise from 5 to 10. It also caused the hash rate to flex a bit (because of last GPU miners quitting I suppose)... but after reward halving, the doom scenario did not happen. So new January 2013 money came in and met a smaller offer than their demand.
TLDR: I don't know.
I am in the pirateat40 school of thought. During late 2011 and until August 2012, pirateat40 impacted the market by depressing the XBT/USD rate. This is typical for a massive short position. One the market realized that the pirateat40 coins were never going to hit the market because they had already being sold the stage was set for the major rally in 2013. The halving comparably had little if any impact. |
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Scenario: If BTSX has a market cap of $100M and there are $50M worth of bitAssets issued and a black swan happens .. if the market cap of BTSX falls to $1M then those with bitAssets are screwed because their bitAssets would be greatly undercollateralized so if they wanted to cash out in USD they’d do so at huge loss. http://prestonbyrne.com/2014/08/24/what-goes-up/. This pretty well sums it up. I will wait for the market to pass the verdict on BTSX. |
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No one has answered the question!
I tried. My investment choice is not Darkcoin nor is it Bitcoin Dark. I picked instead another anonymous coin. |
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My choice here is XMR (Monero), http://monero.cc/, https://bitcointalk.org/index.php?topic=583449.0. This coin has been trading on Poloniex since May 19, 2014 so it meets the three month requirement. https://poloniex.com/exchange/btc_xmr. It is the leading Cryptonote https://cryptonote.org/ coin in both market capitalization and volume. http://coinmarketcap.com/. It is proof of work coin that offers some very attractive features including robust anonymity using ring signatures, and adaptive limits. The latter means it is not constrained by the fixed limits such as the 1 MB blocksize limit in Bitcoin. It also has a very active development team and is generally considered to have a fair launch. Because of its youth it is also very much a "diamond in the rough' in that it requires a fair amount of development work including the back end database and GUI. This can provide an attractive opportunity for an very risk tolerant long term investor that is experienced in the crypto currency markets. |
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The app looks great. I would want that for my iPhone. Do you know if he plans to release that as well?
iPhone support will likely have to wait because of Apple's censorship of applications. People need to understand that their choice in operating systems has consequences. For example: I was busy buying XBT in late 2011 and 2012 in the 2 USD to 6 USD range. If one waited to purchase XBT for approval from the Apple censorship board the price is more in the 450 - 650 USD range. iPhone users that waited for Apple's permission are now able to purchase XBT at a 10000% mark-up from GNU/Linux and Android/Linux users such as myself. Though I appreciate your point here, and I run Arch Linux machines mostly... You could still just buy bitcoin via the browser on any iOS device couldn't you? Yes one could do that back in 2011/2012 and then one could also store the XBT in MTGox. Jail-breaking was also possible. The reality is that anything that is very cutting edge and innovative is not going to come first on a censored platform such as IOS where permission to innovate must first be obtained. XMR is no exception. |
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