[XMR] Monero - A secure, private, untraceable cryptocurrency

[stslimited]

rptelia's 100k is nice, but I am still forming a syndicate bid, PM me if interested

[rfcdejong]

So, let this be the official announcement that the price of monero will now start rising.

We would hope the rise to be gradual, but it is very difficult to cap once it starts. Not many want to sell their precious stashes below cost. In fiat, we are still at 10-15% the cost of most holders.

Everyone who reads this is asked to keep calm and buy at most a very small amount per day, but instead be very vigilant in selling at the best opportunity. Large holders are entering in, we need them, and they need the coins!  

Trolls want to know what I think exactly concerning the timing of the rise. That is however reserved for IRC only.

I'm still accumulating for the past monts...

[rpietila]

rptelia's 100k is nice, but I am still forming a syndicate bid, PM me if interested

I am also involved in a new OTC venture. Let's see if we can have aggregation of the OTC to some usable platform that supports fiat as well...

[stslimited]

So, let this be the official announcement that the price of monero will now start rising.

but really, why? why is this the official announcement? why can't you guys fill 5 btc of asks on Poloniex?

[5w00p]

Maybe I am biased against the word marketing in the wrong way but anyway. We do not sell a product here.

We want people to exchange one currency, whether it be Dollar, Euro or BTC against another currency, in this case XMR. We want them to contribute and build a community of enthusiasts and eventually network.

I hope we all agree that, to be a successful project, monero needs to network in an economic sense. Crucial for networking is the number of participants at every stage of development - the more the better.

This is also the part where I slightly disagree with the core developers, who first want to build everything perfect, and the out of magic want to network - I see their arguments, but I think they are at least partially fallacies.

To be successful we need to network as much as possible as every point of development. I think this is probably the most crucial point in cryptocurrencies.

The strategy to have ~100-500 bagholders, who then out of the magic can sell their coins to latecomers will not work that well.

Developers develop. Let them develop the core of Monero how they want to.

Let the Community develop what it does. We ARE the Community. So, let's continue to develop the Monero Community.

I asked before: What do we want to do?

[smooth]

Maybe I am biased against the word marketing in the wrong way but anyway. We do not sell a product here.

We want people to exchange one currency, whether it be Dollar, Euro or BTC against another currency, in this case XMR. We want them to contribute and build a community of enthusiasts and eventually network.

I hope we all agree that, to be a successful project, monero needs to network in an economic sense. Crucial for networking is the number of participants at every stage of development - the more the better.

This is also the part where I slightly disagree with the core developers, who first want to build everything perfect, and the out of magic want to network - I see their arguments, but I think they are at least partially fallacies.

To be successful we need to network as much as possible as every point of development. I think this is probably the most crucial point in cryptocurrencies.

The strategy to have ~100-500 bagholders, who then out of the magic can sell their coins to latecomers will not work that well.

Developers develop. Let them develop the core of Monero how they want to.

Let the Community develop what it does. We ARE the Community. So, let's continue to develop the Monero Community.

I asked before: What do we want to do?

Yes I agree. The core team has no unique position when it comes to networking and reaching out to new community members. Yes we do things like answer questions from newcomers, maintain the subreddit, media interviews, etc. but most of the ground work of talking to people about why they should care about Monero and building that viral growth of more and more supporters will be done by community members on the ground.

[GreekBitcoin]

If price rise brings attention and more adoption it is good. What we need is more adoption. I also think that some nice bounties for services and development would be better.

We still dont have a good open source gpu miner, right?

[smooth]

If price rise brings attention and more adoption it is good. What we need is more adoption. I also think that some nice bounties for services and development would be better.

We still dont have a good open source gpu miner, right?

We do for NV which is slightly more efficient anyway, but not for AMD. That would be a good addition though.

[iCEBREAKER]

So, let this be the official announcement that the price of monero will now start rising.

We would hope the rise to be gradual, but it is very difficult to cap once it starts. Not many want to sell their precious stashes below cost. In fiat, we are still at 10-15% the cost of most holders.

Everyone who reads this is asked to keep calm and buy at most a very small amount per day, but instead be very vigilant in selling at the best opportunity. Large holders are entering in, we need them, and they need the coins!  

Trolls want to know what I think exactly concerning the timing of the rise. That is however reserved for IRC only.

Sorry to be a wet blanket, but I was looking forward to accumulating CHEAP COINS^tm until at least halving day in Sept.

I fear the crucial initial distribution will be negatively effected by whales propping up the price.

This seems too early.  Let's wait until the GUI/DB are Done and half the coins are emitted to start marketing/pumping.

Speaking of marketing, I would like to volunteer my sig space to advertise the best XMR links and features (MyMonero, XMR.to, Poloniex, Monero.cc, [ANN], etc).

I just need an ANSI artist to spiff up the graphics...   

[rpietila]

So, let this be the official announcement that the price of monero will now start rising.

but really, why? why is this the official announcement? why can't you guys fill 5 btc of asks on Poloniex?

I don't want the price to rise, because I am a buyer. And a front for my clients, who are buying. There was a small bump on Christmastime when the price doubled in a few days. That showed me that buying any larger quantities is anyway impossible. Only the miners are selling.

The announcement is important, because it adds to my glory as a person who can predict market movements, and starts a playful competition about how long the sellers can keep the price down.

If they can keep it down long enough, I am publicly shamed with my wrong prediction, but get to buy cheap coins. If the price instead goes up and stays there, it is a relief for most of the people who answered the poll, and being correct in my prediction eases the pain of needing to pay more. If it shoots up and starts a decline again - well, that's what the coins do. For this reason I urge everyone to sell when it feels toppy.

[smooth]

Fact is, if people get interested in this coin or whatever reason the price is too low. PoW coins are hard to pump because miners are always selling, but that assumes certain minimum price. Right now with only 5K USD per day being mined there just isn't a lot of supply for new buyers, and there won't ever be at this price because the emission continues to drop. I think Risto pointed out on the spec thread or maybe it was IRC that the price fixed the emission (not only the XMR/BTC price but the BTC price too). That can't continue if people want in though.

[rpietila]

Fact is, if people get interested in this coin or whatever reason the price is too low. PoW coins are hard to pump because miners are always selling, but that assumes certain minimum price. Right now with only 5K USD per day being mined there just isn't a lot of supply for new buyers, and there won't ever be at this price because the emission continues to drop. I think Risto pointed out on the spec thread or maybe it was IRC that the price fixed the emission (not only the XMR/BTC price but the BTC price too). That can't continue if people want in though.

The high point of XMR emission was $100,000 per day (in June).

The low point of XMR emission was $3,000 per day (last Wednesday).


Yes, the emission was totally too high, but that got fixed. When we recover to the public interest level of last June, the price will be 30x higher than now.

[stslimited]

Sorry to be a wet blanket, but I was looking forward to accumulating CHEAP COINS^tm until at least halving day in Sept.

I fear the crucial initial distribution will be negatively effected by whales propping up the price.

This seems too early.  Let's wait until the GUI/DB are Done and half the coins are emitted to start marketing/pumping.

Speaking of marketing, I would like to volunteer my sig space to advertise the best XMR links and features (MyMonero, XMR.to, Poloniex, Monero.cc, [ANN], etc).

I just need an ANSI artist to spiff up the graphics...   

Monero doesn't "halve", every single block has less monero than the previous block.

[stslimited]

Fact is, if people get interested in this coin or whatever reason the price is too low. PoW coins are hard to pump because miners are always selling, but that assumes certain minimum price. Right now with only 5K USD per day being mined there just isn't a lot of supply for new buyers, and there won't ever be at this price because the emission continues to drop. I think Risto pointed out on the spec thread or maybe it was IRC that the price fixed the emission (not only the XMR/BTC price but the BTC price too). That can't continue if people want in though.

The high point of XMR emission was $100,000 per day (in June).

The low point of XMR emission was $3,000 per day (last Wednesday).


Yes, the emission was totally too high, but that got fixed. When we recover to the public interest level of last June, the price will be 30x higher than now.

30x you say? WELL THEN I'M BUYING, I would like to thank whoever put up that 37 BTC sell wall, I'm eating it up

[Hueristic]

...Once again: To have the best product, is the very, very best marketing.

Actually this is not true at all. It should be, but it is not.

[smooth]

Sorry to be a wet blanket, but I was looking forward to accumulating CHEAP COINS^tm until at least halving day in Sept.

I fear the crucial initial distribution will be negatively effected by whales propping up the price.

This seems too early.  Let's wait until the GUI/DB are Done and half the coins are emitted to start marketing/pumping.

Speaking of marketing, I would like to volunteer my sig space to advertise the best XMR links and features (MyMonero, XMR.to, Poloniex, Monero.cc, [ANN], etc).

I just need an ANSI artist to spiff up the graphics...   

Monero doesn't "halve", every single block has less monero than the previous block.

There is still a point when half the base supply has been created and the block subsidy is half the original value. It's similar in effect to the bitcoin halving in many ways except not being so abrupt.

[stslimited]

Sorry to be a wet blanket, but I was looking forward to accumulating CHEAP COINS^tm until at least halving day in Sept.

I fear the crucial initial distribution will be negatively effected by whales propping up the price.

This seems too early.  Let's wait until the GUI/DB are Done and half the coins are emitted to start marketing/pumping.

Speaking of marketing, I would like to volunteer my sig space to advertise the best XMR links and features (MyMonero, XMR.to, Poloniex, Monero.cc, [ANN], etc).

I just need an ANSI artist to spiff up the graphics...  

Monero doesn't "halve", every single block has less monero than the previous block.

There is still a point when half the base supply has been created and the block subsidy is half the original value. It's similar in effect to the bitcoin halving in many ways except not being so abrupt.

but these are not events, miners get to price this in along the way every block


if the antiquated bitcoin-core code didn't have this in it, nobody here would be talking about halvings. This is much more advanced cryptonote protocol and there are no halvings. If this was debuted first, nobody would be talking about halvings

we really never need to make references to bitcoin protocol specific quirks, this doesn't make cryptonote features more relatable. The dev team is holding off on a basic gui until a fully featured point of sale system is created for merchants, this isn't going to be advertised like "like bitcoin but" it is going to just be the Monero network.

[smooth]

Sorry to be a wet blanket, but I was looking forward to accumulating CHEAP COINS^tm until at least halving day in Sept.

I fear the crucial initial distribution will be negatively effected by whales propping up the price.

This seems too early.  Let's wait until the GUI/DB are Done and half the coins are emitted to start marketing/pumping.

Speaking of marketing, I would like to volunteer my sig space to advertise the best XMR links and features (MyMonero, XMR.to, Poloniex, Monero.cc, [ANN], etc).

I just need an ANSI artist to spiff up the graphics...   

Monero doesn't "halve", every single block has less monero than the previous block.

There is still a point when half the base supply has been created and the block subsidy is half the original value. It's similar in effect to the bitcoin halving in many ways except not being so abrupt.

but these are not events, miners get to price this in along the way every block

Yes of course, it isn't an event. That's what I meant by not being abrupt.

However, if the effect has to do with how much has already been created vs. how much is left or the absolute or even relative (to current supply) amount of subsidy on a block (independent of the previous block or the next block) then it is similar. So the same, but different.

[stslimited]

Sorry to be a wet blanket, but I was looking forward to accumulating CHEAP COINS^tm until at least halving day in Sept.

I fear the crucial initial distribution will be negatively effected by whales propping up the price.

This seems too early.  Let's wait until the GUI/DB are Done and half the coins are emitted to start marketing/pumping.

Speaking of marketing, I would like to volunteer my sig space to advertise the best XMR links and features (MyMonero, XMR.to, Poloniex, Monero.cc, [ANN], etc).

I just need an ANSI artist to spiff up the graphics...   

Monero doesn't "halve", every single block has less monero than the previous block.

There is still a point when half the base supply has been created and the block subsidy is half the original value. It's similar in effect to the bitcoin halving in many ways except not being so abrupt.

but these are not events, miners get to price this in along the way every block

Yes of course, it isn't an event. That's what I meant by not being abrupt.

However, if the effect has to do with how much has already been created vs. how much is left or the absolute or even relative (to current supply) amount of subsidy on a block (independent of the previous block or the next block) then it is much the same. So the same, but different.

I updated my previous post, but to now reply to what you just said here, why not a 1/4th emission cut be important, or a 1/5th? there is nothing unique about 1/2

[smooth]

Sorry to be a wet blanket, but I was looking forward to accumulating CHEAP COINS^tm until at least halving day in Sept.

I fear the crucial initial distribution will be negatively effected by whales propping up the price.

This seems too early.  Let's wait until the GUI/DB are Done and half the coins are emitted to start marketing/pumping.

Speaking of marketing, I would like to volunteer my sig space to advertise the best XMR links and features (MyMonero, XMR.to, Poloniex, Monero.cc, [ANN], etc).

I just need an ANSI artist to spiff up the graphics...   

Monero doesn't "halve", every single block has less monero than the previous block.

There is still a point when half the base supply has been created and the block subsidy is half the original value. It's similar in effect to the bitcoin halving in many ways except not being so abrupt.

but these are not events, miners get to price this in along the way every block

Yes of course, it isn't an event. That's what I meant by not being abrupt.

However, if the effect has to do with how much has already been created vs. how much is left or the absolute or even relative (to current supply) amount of subsidy on a block (independent of the previous block or the next block) then it is much the same. So the same, but different.

I updated my previous post, but to now reply to what you just said here, why not a 1/4th emission cut be important, or a 1/5th? there is nothing unique about 1/2

Of course, but then one might also talk about the second or third or fourth bitcoin halving as opposed to just the first (or the upcoming second).

At some point it does likely matter that the subsidy is much lower than it was before, or much lower relative to total supply.

EDIT: I agree in a lot of ways about not comparing everything to bitcoin, but bitcoin does have a depth of experience that no other cryptocurrency has so far, so there are some experiences likely to carry over, others not. We'll have to see which are which!