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Author Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency  (Read 4242798 times)
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February 22, 2015, 11:37:42 PM
 #20441

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?
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February 22, 2015, 11:40:33 PM
 #20442

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.
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February 22, 2015, 11:45:02 PM
 #20443

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! Smiley 

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 COINStm 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...   Smiley


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February 22, 2015, 11:45:35 PM
 #20444

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.
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February 22, 2015, 11:48:34 PM
 #20445

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.
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February 22, 2015, 11:55:27 PM
 #20446

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.
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February 23, 2015, 12:18:19 AM
 #20447

Sorry to be a wet blanket, but I was looking forward to accumulating CHEAP COINStm 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...   Smiley

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

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February 23, 2015, 12:19:16 AM
 #20448

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
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February 23, 2015, 12:20:27 AM
 #20449

...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.

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February 23, 2015, 12:24:43 AM
 #20450

Sorry to be a wet blanket, but I was looking forward to accumulating CHEAP COINStm 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...   Smiley

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.
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February 23, 2015, 12:26:16 AM
 #20451

Sorry to be a wet blanket, but I was looking forward to accumulating CHEAP COINStm 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...   Smiley

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.
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February 23, 2015, 12:28:26 AM
 #20452

Sorry to be a wet blanket, but I was looking forward to accumulating CHEAP COINStm 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...   Smiley

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.

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February 23, 2015, 12:29:57 AM
 #20453

Sorry to be a wet blanket, but I was looking forward to accumulating CHEAP COINStm 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...   Smiley

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
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February 23, 2015, 12:31:09 AM
 #20454

Sorry to be a wet blanket, but I was looking forward to accumulating CHEAP COINStm 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...   Smiley

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!

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February 23, 2015, 12:35:14 AM
 #20455

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

"Halving" is an idea from Bitcon which we have metaphorically imported into Monero, referring to the day in Sept when half the XMR coinbase has been emitted.  It's more psychological than strictly algorithmic.  So lighten up Francis.

Miners may price it in, as can markets.  But 'no more cheap coins' is still a great excuse for a party!   Smiley


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Monero
"The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." 
David Chaum 1996
"Fungibility provides privacy as a side effect."  Adam Back 2014
Buy and sell XMR near you
P2P Exchange Network
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February 23, 2015, 12:53:28 AM
 #20456

can everyone with buy orders in the .0010 range move your bid orders up a bit higher, I'm trying to form a syndicate bid with a bigger buy wall closer to the International Best Bid Best Offer


I can take out the order at .0017 if someone else fills the order at .00161 , judging conviction before I start filling heavily. I can take out the higher ask because this is still below my cost basis.
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February 23, 2015, 09:24:00 AM
 #20457

why attack now the 0.0017?
protect xmr against unexpected price declines is already a great task.

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February 23, 2015, 09:43:01 AM
 #20458

why attack now the 0.0017?
protect xmr against unexpected price declines is already a great task.

If there's ongoing discussion of how people are teaming up to manipulate the price in the main discussion thread, people won't think highly of this coin.

Year 2021
Bitcoin Supply: ~90% mined
Supply Inflation: <1.8%
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February 23, 2015, 10:13:04 AM
 #20459

why attack now the 0.0017?
protect xmr against unexpected price declines is already a great task.

If there's ongoing discussion of how people are teaming up to manipulate the price in the main discussion thread, people won't think highly of this coin.

being loaded to the hilt with XMR I obviously don't mind higher prices but I very much agree with you here.

Die Würde des Menschen ist unantastbar
rpietila
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February 23, 2015, 10:20:27 AM
 #20460

why attack now the 0.0017?
protect xmr against unexpected price declines is already a great task.

If there's ongoing discussion of how people are teaming up to manipulate the price in the main discussion thread, people won't think highly of this coin.

It is called openness. It is very precious(expensive), and hopefully appreciated by the "people".

I will start buying 24 hours from my announcement to do so, but the price is already up 20% and 24 hours have not even passed yet  Undecided
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