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

[GreekBitcoin]

I just finished a late night overseeing the introduction of Monero on Mintpal.

While anticipating the opening of trade at current market value, i.e. around 650k satoshis to 700k satoshis,
it's still always interesting nonetheless to see how the market and traders will respond.

Traders like a coin they can profit on. They're only partially concerned about the long term. Cryptos to them are a high turnover, short-term market and 'quick buck' to be made!
After the inital opening of trade on Mintpal.com, however, the market response of Traders has been to pull the price down to levels where Traders can make some profits on it.

In short, Monero is overvalued and too technical at the moment in my opinion.

This is a technical Cryptocoin and Wallet system. It's not for mainstream use right now in its current form.

If a Trader wants to hold on to some Monero during a trading lull and/or quickly wants to move it to another exchange, they are going to need to invest TIME in learning and working with the
Monero command line wallet. This wallet requires manual command line creation and syncing setup steps before Monero can safely be moved to an offline wallet or moved to another exchange, or another wallet.

The Monero installation and getting started notes are not currently clear or detailed on its own website:
http://monero.cc/getting-started/index.html

A Windows user 'tutorial with pictures' is handled on ANOTHER website:
https://monerotalk.org/t/bounty-create-a-useful-tutorial-on-how-to-setup-monero/13

On this Tutorial page/website, some users are experiencing unsuccessful results after following instructions.

So until the Wallet install process in simplified, GUI-fied and improved upon, Monero's price will suffer so long as traders (who are time & patience short) continually realize that generally setting up the wallet and will require special command line-based learning and operation.

This makes Monero wallet is currently usable for the mainstream public who may be used to Bitcoin, Litecoin or Dogecoin wallets/apps, and even ATMs by now.

After its first pump and dump initiation before Trader profit taking, Monero's value may be restricted by the realm of tech knowledge and inconvenience until made easier to use.

portdavenport
Trader

Monero is doing what exactly needs to be doing. Being anonymous and not being wannabe anonymous. It is doing this right now and not in the future and is not closed source. I really dont care if it is  noob friendly right now. Those who have enough brain power to figure out why this coins has real value can also read about their investment and understand how to use it. They only need to read the OP and the links there... Those that dont will buy it and dump it. They wont even bother to download wallets at their computers..

Oh and those that really care about anonymity can easily spend 1 hour and understand how to use it except just writing "moon" on chats.

Monero will fix its bugs and be more noob friendly soon. Those that wait for it to be more noob friendly obviously will buy it or mine it with more cost. Right now it doesnt need to be mainstream. Have you seen any marketing? Getting mainstream too fast will just make it a pump and dump after all...

[owlcatz]

I just finished a late night overseeing the introduction of Monero on Mintpal.

While anticipating the opening of trade at current market value, i.e. around 650k satoshis to 700k satoshis,
it's still always interesting nonetheless to see how the market and traders will respond.

Traders like a coin they can profit on. They're only partially concerned about the long term. Cryptos to them are a high turnover, short-term market and 'quick buck' to be made!
After the inital opening of trade on Mintpal.com, however, the market response of Traders has been to pull the price down to levels where Traders can make some profits on it.

In short, Monero is overvalued and too technical at the moment in my opinion.

This is a technical Cryptocoin and Wallet system. It's not for mainstream use right now in its current form.

If a Trader wants to hold on to some Monero during a trading lull and/or quickly wants to move it to another exchange, they are going to need to invest TIME in learning and working with the
Monero command line wallet. This wallet requires manual command line creation and syncing setup steps before Monero can safely be moved to an offline wallet or moved to another exchange, or another wallet.

The Monero installation and getting started notes are not currently clear or detailed on its own website:
http://monero.cc/getting-started/index.html

A Windows user 'tutorial with pictures' is handled on ANOTHER website:
https://monerotalk.org/t/bounty-create-a-useful-tutorial-on-how-to-setup-monero/13

On this Tutorial page/website, some users are experiencing unsuccessful results after following instructions.

So until the Wallet install process in simplified, GUI-fied and improved upon, Monero's price will suffer so long as traders (who are time & patience short) continually realize that generally setting up the wallet and will require special command line-based learning and operation.

This makes Monero wallet is currently usable for the mainstream public who may be used to Bitcoin, Litecoin or Dogecoin wallets/apps, and even ATMs by now.

After its first pump and dump initiation before Trader profit taking, Monero's value may be restricted by the realm of tech knowledge and inconvenience until made easier to use.

portdavenport
Trader

Monero is doing what exactly needs to be doing. Being anonymous and not being wannabe anonymous. It is doing this right now and not in the future and is not closed source. I really dont care if it is  noob friendly right now. Those who have enough brain power to figure out why this coins has real value can also read about their investment and understand how to use it. They only need to read the OP and the links there... Those that dont will buy it and dump it. They wont even bother to download wallets at their computers..

Oh and those that really care about anonymity can easily spend 1 hour and understand how to use it except just writing "moon" on chats.

Monero will fix its bugs and be more noob friendly soon. Those that wait for it to be more noob friendly obviously will buy it or mine it with more cost. Right now it doesnt need to be mainstream. Have you seen any marketing? Getting mainstream too fast will just make it a pump and dump after all...

This. Is. Spot. On.  Thank you!

[saddambitcoin]

It's funny, to point out that it is too difficult for mainstream use right now but the devs have been telling us just that while they focus on the core features. Keep the masses out for now.

Monero is not overvalued, it is fairly valued. And we will know when it is overvalued because everyone will be piling money on top of each other to get some (0.02 and greater).

[aminorex]

No crypto is mainstream.  Bitcoin is not mainstream.  Bitcoin is not in a good position with respect to usability.  It is light-years ahead of Monero, of course.

The market trajectory of the coin is going to be crucial to achieving its full potential.  Please don't belittle efforts to advance the value of the coin.  Ideally, it would
advance with as little draw-down as possible.  This would tend to discourage p&d much better than would a sequence of events amenable to hype, which
would tend to serve that agenda, would help to create an impression of relative price stability/predictability, and advance confidence in the coin.

The default assumption is, reasonably, that any new coin is a scam.  Monero is proving itself, in gradual due course, on the development track, but the finance track
is equally necessary to take this train to its desired destination.  Finance is very much a confidence game, and anything we can do to increase value and reduce
price volatility will do heroic service to secure that crucial confidence.  We need allies in finance, in business, in entrepreneurial ventures, &c.

I understand that when one invests a great deal of your sweat or treasure into a project, one can get defensive.  Especially in a hostile environment, subject to
all manner of attack, from libel and slander to hacking to financial raids, it is easy to become sensitized to the dangers.  But constructive criticism, which will come
from diverse areas of expertise and emphasis, is very valuable.  Let's please take care not to discourage it, while defending against an imaginary threat out of habit.

Further: On the finance side the pecuniary interests of commentators are likely to be prominent.  That's okay.  This project is not a zero-sum game.  Its success will
improve life for millions of people, in myriad ways, and many of them will see financial gain.  Win-win scenarios like this are very difficult to find in this world.
It is a privilege to participate in such, and both a privilege and a blessing of gain to share it with others.  Habits which are trained in more hostile competitive domains are
well suited to interaction with hostile competitors, but the fewer of those which the Monero project has, the more fully and rapidly it will achieve its best potential.

Regarding valuation, a rational time-discounting valuation using a quantity theory model will assign radically different valuations depending on the probability of a given
level of market penetration.  If Monero achieves its maximum potential in the long-run with 100% probability, it is clearly grossly undervalued today.  But if you assign a
very low probability of success, or a much lower high-water mark, or a much higher probability of catastrophic failure, well it is impossible to say whether it is undervalued
or overvalued without parameterizing the model.  The fact is, the market places a current value on it today, and will place some other value on it tomorrow.  It is silly
to call it undervalued or overvalued without a coherent and rigorously parameterized performance model.  We can accept that the default assumption that Monero is
another doomed scam coin will lead many to consider it overvalued.  Just remember that it is a silly error, and that you can take advantage of it, if in fact it is much
more, and much more likely to succeed, than a naive observer would assume.

[tuanvtau]

the pool monero.farm is scam me, my address is:473wKLtpYiAj6pUHQ6XbK3cTnVSmjZvy3ZJ9BgvU7Mr2MFLGQMv3YTSQqtRXEyB7WiLePZVpXVus3Vj 8WMdkm9EGMHaXqvB
about 0.96 XMR don't pay

[celestio]

No crypto is mainstream.  Bitcoin is not mainstream.  Bitcoin is not in a good position with respect to usability.  It is light-years ahead of Monero, of course.

The market trajectory of the coin is going to be crucial to achieving its full potential.  Please don't belittle efforts to advance the value of the coin.  Ideally, it would
advance with as little draw-down as possible.  This would tend to discourage p&d much better than would a sequence of events amenable to hype, which
would tend to serve that agenda, would help to create an impression of relative price stability/predictability, and advance confidence in the coin.

The default assumption is, reasonably, that any new coin is a scam.  Monero is proving itself, in gradual due course, on the development track, but the finance track
is equally necessary to take this train to its desired destination.  Finance is very much a confidence game, and anything we can do to increase value and reduce
price volatility will do heroic service to secure that crucial confidence.  We need allies in finance, in business, in entrepreneurial ventures, &c.

I understand that when one invests a great deal of your sweat or treasure into a project, one can get defensive.  Especially in a hostile environment, subject to
all manner of attack, from libel and slander to hacking to financial raids, it is easy to become sensitized to the dangers.  But constructive criticism, which will come
from diverse areas of expertise and emphasis, is very valuable.  Let's please take care not to discourage it, while defending against an imaginary threat out of habit.

Further: On the finance side the pecuniary interests of commentators are likely to be prominent.  That's okay.  This project is not a zero-sum game.  Its success will
improve life for millions of people, in myriad ways, and many of them will see financial gain.  Win-win scenarios like this are very difficult to find in this world.
It is a privilege to participate in such, and both a privilege and a blessing of gain to share it with others.  Habits which are trained in more hostile competitive domains are
well suited to interaction with hostile competitors, but the fewer of those which the Monero project has, the more fully and rapidly it will achieve its best potential.

Nicely said(Yes, I read the whole thing )

Monero atm needs more:

Well done websites based off of it, whether that be forums, help sites, casino sites, e-commerce sites, etc

I could lend a hand in creating such websites if any members here would like to suggest ideas

[whoknowsthisnose]

Does anyone knows how much time it takes to receive a deposit in bter?

I am waiting for 90 minutes already, is it normal?

Still nothing..

Same problem with Bter:
Yesterday I did 3 deposits from poloniex to Bter without any problems, I found them less than 30 minutes later at my account. But the next deposit - done same way - is still not arrived (nearly 24 hours).

I wrote to the support 8 hours later and sent a reminder this morning, but -  as you may guess - I got no answer.

Iam somewhat pissed, because it was an amount, which eats my former winnings and somewhat more completly, if I will not get them.

I recommend, to send no XMR to Bter, untill this issue is solved.

To get any support from Bter, you have to chat with them on QQ

Hm...

My skills in Mandarin are tending to zero...

gotta work through it, they speak very broken english, but you can try to understand what they are saying.

You can copy and paste using Google translate to understand what the words mean

Problem solved!

I got an answer to my request and the missing XMR are now on my account.

Finally I am very pleased with the support of Bter.

[David Latapie]

I could lend a hand in creating such websites if any members here would like to suggest ideas

Well on its way, but thank you for your offer :-)

[celestio]

I could lend a hand in creating such websites if any members here would like to suggest ideas

Well on its way, but thank you for your offer :-)

Ok yw, no problem 

[arnie111]

holy shit this is getting dumped hard.. 

[stealth923]

I held XMR but sold - I cant stress enough how this coin is not ready for mainstream. Reliability / Command line driven and lack of infrastructure will drag the price down further..

Yes the anonymity is good but the underlying solution is too complex to use and under-developed. Give it another 6-12 months yes maybe, but as it stands the solution is not viable.

[portdavenport]

I held XMR but sold - I cant stress enough how this coin is not ready for mainstream. Reliability / Command line driven and lack of infrastructure will drag the price down further..

Yes the anonymity is good but the underlying solution is too complex to use and under-developed. Give it another 6-12 months yes maybe, but as it stands the solution is not viable.

I agree.

Monero is Too Technical: trade price will be affected without a simpler wallet.
Forum Link: https://bitcointalk.org/index.php?topic=583449.msg7478215#msg7478215

[nzminer]

I held XMR but sold - I cant stress enough how this coin is not ready for mainstream. Reliability / Command line driven and lack of infrastructure will drag the price down further..

Yes the anonymity is good but the underlying solution is too complex to use and under-developed. Give it another 6-12 months yes maybe, but as it stands the solution is not viable.

Its an utter joke, ive just tried to send a transaction and it did nothing in the GUI wallet, and ive tried dimplewallet and i just get the message that the transaction size is too big!

Whats going on???

[owlcatz]

holy shit this is getting dumped hard.. 

fuck it. stay on the coaster. it will pay off.

[7vpo]

Edit: Info deleted.

[milkyway]

the floor is reached

[blaaaaacksuit]

This whole board has turned into a trollbox 

[aminorex]

back up the truck, it's finally cheaper to buy than to mine.

[nzminer]

Is anyone here able to help me with the wallet?

[blaaaaacksuit]

back up the truck, it's finally cheaper to buy than to mine.

I think we're going lower