The only part that was relevant to economics got ignored:
Until people have obligations which can only be discharged in monero, there are no forced buyers, and volatility extremes will persist.
This may seem obvious to others, but I hadn't realized it so clearly before. The same is true of BTC. If you really want to build the coin, you have to bill in Monero.
This is exactly so. Let's be realistic in that we are only about 8000 monerists. But let's be clever that we can still develop the economy  Someone needs to purchase the first XMR pizza of course. Has it happened yet? |
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Just about the only thing that can give you a permanent loss is selling - especially forced sales from leverage.
haha, I wonder if "that guy" that's all in on Monero with leverage actually exists. could be someone leveraged in BTC and bought XMR with the BTC. if anything, Monero is making me buy more BTC these days (with fiat) because i am overweight in XMR. i am tempted to buy more but i will never sell XMR at these prices. |
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I bought some coins@ 0.009 and now after few weeks i've decided to look at the market price it's around 0.004....WTF?
good thing you didn't look when it was around 0.002! haha |
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signing up!
Name: saddambitcoin
Posts: 568
Activity: 560
Position: Hero Member
1BvEaRvFLM4CzF1AK6mULAo97HaJdXSxGg
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You should just hold on to them, could turn into free money later on like when they were giving away 50,000 XRP.
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cryptocurrency will make you lots of money, solving some problems while also creating new problems you didn't have before. so, i guess we'll see.
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just made additional donation of 50 XMR!
tx id = 465187a5ca46387981a70c1cd587c384fe705bcf773471481f756cfe315acfaf
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I have a shitty blackberry and I never make calls, I only use Whatsapp so I pay about 6€ monthly for my contract. I don't smoke, drink or go out partying. I barely go out because I can't pay for the train to begin with.
So like I said, my only scape that I see right now, realistically, is if Bitcoin goes much higher in the next 10 years. So unless this was it and the big gains already happened, im pretty much fucked, unless totally out of my control lucky events unfold.
I have a dozen vacancies available in my hotel in Estonia. It doesn't look like your quality of life would suffer even if you became our room cleaner. You would get paid 400 euros/month + bed. Food is cheap and wifi included. Our business center has a computer with 15" monitor. You would mainly interact with btc people in all levels 10, 100, 1000, 10000 btc, including devs. Caught stealing => instant dismissal. Caught lying => one warning. Caught being lazy doing appointed tasks => two warnings. Possibility to advance in the career up to hotel manager level. Hotel manager gets about 4000 euros + perks. This is open for everyone, I will later post the details about employee levels, work tasks and compensation scheme. A true equal opportunity, rags to riches thing reminiscient of the 1880s, which coincidentally was the latest golden age in the castle also  How would you like us to apply for the job?  |
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selling 5000 XMR @ 0.025 BTC each!
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lol of course this comes from a user named "kittycatbtc"
no disrespect. i think devs are still working on a robust protocol rather than glossy gui...but it will come in time i'm sure.
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I suspect Monero will test 0.005 this week, a lot of people likely sold expecting another lengthy slow decline. Now the bid sum has gone up 4x since the last rise and the market sentiment is changing. A lot of people dumped in the past week and are looking to buy back in (me too, but i was holding 1000:1 XMR:BTC).
The facts:
-Veteran BTC lead devs and BTC whales are interested and active in XMR.
-Bitcoin itself is now increasingly focused on non-interesting things - regulation, not innovation. [perhaps fine for attracting bigger investors, but personally i miss the old bitcoin spirit]
-Hashrate on Monero continually increasing, Scrypt ASICs will displace a lot of GPU miners and I suppose they will come to XMR if they haven't already.
I basically agree with you. But. On Poloniex where all the action is there is 240 btc bid at 390 which is 36% of the total. 80 btc of it was placed 3 days ago when the price was dropping for 36 hrs and accelerating. It has been relatively stable since, yes that is a short time. True. I should also consider, Mr. 0039 holds perhaps 30,000 BTC and wants to hedge 1% in an altcoin. If he loses 300 BTC in the end, no big loss to him. But a small investment now could save him 3-5 years from now when Bitcoin is regulated up the ass and he wants to be liquid in the free money that is Monero! |
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I suspect Monero will test 0.005 this week, a lot of people likely sold expecting another lengthy slow decline. Now the bid sum has gone up 4x since the last rise and the market sentiment is changing. A lot of people dumped in the past week and are looking to buy back in (me too, but i was holding 1000:1 XMR:BTC).
The facts:
-Veteran BTC lead devs and BTC whales are interested and active in XMR.
-Bitcoin itself is now increasingly focused on non-interesting things - regulation, not innovation. [perhaps fine for attracting bigger investors, but personally i miss the old bitcoin spirit]
-Hashrate on Monero continually increasing, Scrypt ASICs will displace a lot of GPU miners and I suppose they will come to XMR if they haven't already.
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I sold some in the past couple days because I was at 1000:1 ratio. Now I'm around 400:1. I'd love to buy more at 0.0035 or less.
I expect the downtrend will now continue until everyone decides it has gone far enough and immense buying will ensue. If the pattern continues, the next rally will happen around August 20th 2014.
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Monero has a high rate of emission right now, so yes the price will be erratic as people buy in substantial amounts!
As more people begin to hold XMR the price will stabilize much higher.
I forget where I read this but I speculate rpietila actually has around 10,000 BTC not 3000. Therefore he does not need to "dump" XMR ever, he is buying because the coin has great properties and potential. Also it would be foolish for anyone to not hedge your BTC fortune in a promising new cryptocurrency in the probable event that Bitcoin is superseded in the future.
Call me a Monero shill if you want, but I've placed my bets accordingly and I am prepared to be a bagholder - Monero is exciting and Bitcoin becomes more regulated by the day. I'm in Monero because I like the dev team and the community is focused on issues that feel more like the early days of Bitcoin to me...let's change the world!
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Obviously there is no need as there is with btc to have multiple wallets in order to not reveal your stash, but are there reasons to have multiple wallets for Monero? I would feel funny having a large amount in any one place but don't know if that feeling is based on reality.
No reason for privacy I think, but the obvious usage of several wallets is to have several layers of security. Smartphone, laptop, cold strorage... with increasing amounts on them. There can still be some type of privacy issues. For example, let's say you have that 5000 output yourself, and you send 100 XMR to someone. That person will be able to see that you broke up a 5000 output into 100 and 4000+900 (change), so the recipient will know that you have/had 5000. In the future I would expect that wallets will optionally do some kind of auto-splitting to avoid this (breaking up the 5000 into smaller pieces -- which will be unlinkable by anyone including the recipient -- before sending the 100). The technology will continue to improve. For now, if you are interested in extreme privacy you may want multiple wallets (say one for long term storage in larger amounts, one for routine transactions, etc.) Could one also prevent this by making smaller transfers to your wallet - 100, 200 XMR each time in order to build up a large supply of outputs? |
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So your thoughts on short term. Buy sell or HODL?
Short term [next 5-7 days]: HOLD Mid Term [next 2-3 weeks]: HOLD Long Term [next 3-4 months]: HOLD |
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i use mac osx but i prefer to use linux for most things now
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I would love it for this to happen but I see this year as a repeat of 2012...let's blowoff some steam, consolidate, and 2015 will be the next rally.
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What are the biggest possible amount of coins that can be sent in a transfer? 100 coins? 200 coins?
i think it depends on your mixin level and the wallet balance. transfer 0 could send just about anything but it is not good for the anonymity i usually break up my transactions in to smaller amounts like 100-200 coins with a mixin of 3 |
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