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

[GreekBitcoin]

Any reason for the price collapse (except supply and demand) ?

looking at the order book on polo I would assume just supply and demand. Buy support is down 20 BTC from the last time I looked (12 hours ish ago)

Its down 50BTC from 2 days ago i think....

[1714119648]

1714119648

[1714119648]

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[1714119648]

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[afeizhai]

GUI when out?

[billotronic]

Any reason for the price collapse (except supply and demand) ?

looking at the order book on polo I would assume just supply and demand. Buy support is down 20 BTC from the last time I looked (12 hours ish ago)

Its down 50BTC from 2 days ago i think....

I wouldn't be a bit surprised. Still, I wanna say the last low it was down to around 40 and even now its starting to creep back up.

What I do find interesting is that the overall nethash hasn't dropped with the price... this would make me think the price is still going to head down over the weekend til the profiteers shut off to let the market recover.

[cAPSLOCK]

I believe in this community, the devs, the project parameters.  Everything points the right way.  In the race for a privacy coin I think this project holds the most promise.  I only wish I had more money to invest in my tiny alt stake right now as I feel buying more XMR would be a good investment, but I am already all in for my alt budget and don't wish to undiversify my 5 alt holdiings.

What Monero does NOT need:

1.  A GUI wallet right this moment.  Wallets are meaningless if the only people using them are perfectly capable of using the current cli wallet.  At this point a simple wallet is a done paradigm.  We have billions of those.  If you want an alt with a wallet buy Litecoin.  The desire expressed here to see one is understandable, but there is no reasoning behind it.

2.  A rising price.  If you are using Monero as an investment then you must understand that coins with big market caps only happen on fundamentals plus zeitgeist.  We've got some zeitgeist here (still) but we need to develop the fundamentals.  Coins that have rising prices RIGHT NOW are out there if you want to play the short flip game.  Look at junk like Pinkcoins, which I believe is being loaded up by 'insiders' for a coming pump.  That goes on all day long.  We don't need shady flippers and scammers in a serious community.  At least we need not cater to them.

What Monero DOES need:
1. A GUI wallet in time with the right features.  Hopefully you read to here before mashing quote.  The GUI(s) need to be solid and perhaps even have useful 2.0 style features.  I trust the devs have good vision here.  Just privacy features perfectly implemented in an scalable, portable app with mobile versions might be enough.  Built in distributed market? Integrated decentralized exchange? The ability to issue securities or stocks? Messaging? I dunno.  I hope someone does. We are well into Crypto 2.0 at this point in currency development.  Is simple vanilla privacy enough?  Whatever happens it has to be extensible.

2.  Cryptonote must make the exchanges.  This is a hurdle.  We need to see some slightly more mainstream exchanges implement cryptonote ability into their platforms.  The masses will need to buy XMR from somewhere they trust.

3.  Luck and momentum. With hundreds of altcoins existing (and only a few legitimate ones really) the noisefloor is just really high.  For Monero to be seen over the weeds it will need all the above PLUS the magical push of a DOGE style event.  It doesnt have to be silly, but it does have to capture the attention of the potential users.  People need to be able to tell each other the STORY of why we NEED Monero.  And then the story must be told.  Here, on reddit, and eventually in the media.  Ripple did it.  Darkcoin did it...  and niether of those has the legitimacy of this project.

I remain bullish.

[prophetx]

i'm glad to say the recent crash has allowed me to acquire some monero

[windjc]

What's the difference between Monero and Vericoin?

[tacotime]

What's the difference between Monero and Vericoin?

Monero: CryptoNote codebase
VeriCoin: Fork of PoS coins, Bitcoin codebase, broken PoS consensus algorithm

[aminorex]

Obviously price of MRO is too high right now.

Why? Could you explain please?

What would you do with that coins mined every day? Buy support is week now, you can see why.

The "problem" is not supply but difficulty.  It is quite profitable to mine XMR at current difficulty.  That means miners are willing to sell at lower prices.   Because it is profitable, difficulty will rise with new miners coming online.  Then it will be less profitable.  Miners will require higher prices to sell.  This is good for dispersion, and good for the economy in the long run.  A clever miner with deep pockets could hoard, and do much better in the long run, but in practice, miners have to pay their bills.  This is bitcoin replay material.

The GPU miner allows people with R9 GPUs to get yields comparable to a top of the line Xeon CPU.  Mining became cheaper.  More coins are being sold, therefore.  However, it also means a lot more hashes came online, so difficulty is likely to rise, which will reduce profitability in time.  Bidders will be required to bid higher in order to gain XMR at that time.

[White Lion]

wtb large amount of xmr

pm me

[blaaaaacksuit]

wtb large amount of xmr

pm me

Whats wrong with poloniex?

[PeaMine]

XMR has been very healthy, no major dips in hashrate or pricing, massive volume, and I don't think interest will fall thanks to Cryptonote and an active community.
As long as some FPGA doesn't pop up for it, I can't imagine pricing going down in the near future only up.
GPU came out, and is basically the same "cost" if not more than CPU[4770k is more efficient than a 290X from what I can tell], which makes me happy even though I do have some GPUs, a fair coin for both camps.

[aminorex]

Whats wrong with poloniex?

Not enough liquidity, I infer.

[superresistant]

Miners, please spread the hashing power between pools.
If the pool you are mining at is over 500 KH/sec, it is time to move.

Thanks.

[svetliopi44]

Why this pool does not show the right price?
http://monero.crypto-pool.fr/#

[darlidada]

Price is low ? Nothing is happening to XRM ? Lets not forget the words of Mircea Popescu:

There are at all times two financial markets in progress, running side by side, but little known to each other; the one real, the other only apparent. The former grows into permanent wealth; it is pursued by those who live for thinking and making; its course is sober and quiet, but extremely slow; and it produces in a year scarcely a dozen items; these, however, are permanent. The other kind is pursued by persons who live on other’s thinking and making; it goes at a gallop with much noise and shouting of partisans; and every week puts a thousand items on the market. But after a few years one asks, Where are they? where is the glory which came so soon and made so much clamor? This kind may be called fleeting, and the other, permanent finance.

source: http://trilema.com/2013/one-hundred-years-of-bitcoin-finance/

[prophetx]

Price is low ? Nothing is happening to XRM ? Lets not forget the words of Mircea Popescu:

There are at all times two financial markets in progress, running side by side, but little known to each other; the one real, the other only apparent. The former grows into permanent wealth; it is pursued by those who live for thinking and making; its course is sober and quiet, but extremely slow; and it produces in a year scarcely a dozen items; these, however, are permanent. The other kind is pursued by persons who live on other’s thinking and making; it goes at a gallop with much noise and shouting of partisans; and every week puts a thousand items on the market. But after a few years one asks, Where are they? where is the glory which came so soon and made so much clamor? This kind may be called fleeting, and the other, permanent finance.

source: http://trilema.com/2013/one-hundred-years-of-bitcoin-finance/

good points

[slavo]

Whats wrong with poloniex?

Not enough liquidity, I infer.

depending on "large" amounts; but i already bought 15k through polo.

i'm in for the "permanent finance" ! 

[dnaleor]

bought some additional MRO. The current price is too low

[Nekomata]

XMR is the future.

[kalisto]

i'm in for the "permanent finance" ! 

its funny to see al those sr. members here, good job!!