Monero (XMR) Speculation thread

[Keyboard-Mash]

But people don't want to pay for other scams. That's why it's a problem.

And now we've come full circle. If they don't want to pay for this 'scam' as you'd like to call it, they'll take either precautions to prevent it or utilize the dormant resources themselves . Free marketing.

[giveBTCpls]

Just lol at BCN bagholders.

[smooth]

Botnets are a non-issue dude, they're a finite resource that most people need to pay for. Anyone owning high end GPU cards should have an antivirus .. end of story (in fact most monero virsues are picked up quite fast these days because of the unicorn botnets).

Since when botnets and virsuses stop being a problem?
Viruses makes currency using unfair. Botnets makes currency not liquid. Imo you are not right, bro.

Botnets have zero effect on a currency being liquid. This is one of the stupidest arguments ever.

It doesn't really matter who mines the coins. Botnets secure the block chain just like everyone else, and as explained they are a finite resource, they will come and go depending on the profitability of mining one coin vs. mining another coin vs. doing something other than mining.  Mining is actually not really their ideal use because it has a high footprint, so increased detection (and therefore elimination) of nodes.

Also, since you seem to be one of the BCN sock puppets, I'll point out that BCN is exactly the same as MRO mining. Botnets are an issue for both or neither. (I think neither, but if you disagree, and think both, then take it up with the BCN guys too.)

[toknormal]

Anon coins are going to blow up bigger than any other coins. There, I said it
Why? Well, Andresen already said he doesn't want to implement coinjoin into bitcoin. So, the traceability is an issue for all the criminal types.

I wish people would stop associating "anon" with criminality - this is garbage and not the reason why "anon" is important.

It's important because in most societies, peoples finances are not in the public domain.

It's got nothing to do with "criminality" it's to do with privacy. In the fiat world, personal and commercial banking transactions are not anonymous but they are private. That's what's missing from Bitcoin - at least as far as potential association of identifiable entities with block chain addresses goes.

As far as "criminality" goes, bitcoin and "anonymous coin" will probably be used just as much as each other to store the proceeds of illegal activities, bit coin probably more. The proceeds of crime right now are stored in US Dollars even though it's not "anonymous".

[Keyboard-Mash]

Anon coins are going to blow up bigger than any other coins. There, I said it
Why? Well, Andresen already said he doesn't want to implement coinjoin into bitcoin. So, the traceability is an issue for all the criminal types.

I wish people would stop associating "anon" with criminality - this is garbage and not the reason why "anon" is important.

It's important because in most societies, peoples finances are not in the public domain.

It's got nothing to do with "criminality" it's to do with privacy. In the fiat world, personal and commercial banking transactions are not anonymous but they are private. That's what's missing from Bitcoin - at least as far as potential association of identifiable entities with block chain addresses goes.

This brings up a great point that I feel is shared very clearly by gmaxwell in his thread describing Coinjoin. :

Bitcoin is often promoted as a tool for privacy but the only privacy that exists in Bitcoin comes from pseudonymous addresses which are fragile and easily compromised through reuse, "taint" analysis, tracking payments, IP address monitoring nodes, web-spidering, and many other mechanisms. Once broken this privacy is difficult and sometimes costly to recover.

Traditional banking provides a fair amount of privacy by default. Your inlaws don't see that you're buying birth control that deprives them of grand children, your employer doesn't learn about the non-profits you support with money from your paycheck, and thieves don't see your latest purchases or how wealthy you are to help them target and scam you. Poor privacy in Bitcoin can be a major practical disadvantage for both individuals and businesses.

Even when a user ends address reuse by switching to BIP 32 address chains, they still have privacy loss from their old coins and the joining of past payments when they make larger transactions.

Privacy errors can also create externalized costs: You might have good practices but when you trade with people who don't (say ones using "green addresses") you and everyone you trade with loses some privacy.  A loss of privacy also presents a grave systemic risk for Bitcoin:  If degraded privacy allows people to assemble centralized lists of good and bad coins you may find Bitcoin's fungibility destroyed when your honestly accepted coin is later not honored by others, and its decentralization along with it when people feel forced to enforce popular blacklists on their own coin.

As I write this people with unknown motivations are raining down tiny little payments on old addresses, presumably in an effort to get wallets to consume them and create evidence of common address ownership.

I think this must be improved, urgently.

...

Anyone that wants to understand this increasing demand for privacy in cryptocurrencies lately would do very well reading his thread.

[smooth]

For anyone trying to measure out their "code update" dicks, please consider taking a look at:

Monero github : 131 commits, last commit 19 hours ago, 12 contributors, pulse: has one

Bytecoin github : 46 commits, last commit May 22, 5 contributors, pulse: non-existant

It's not a competition .. I mean don't you have a Bytecoin speculation thread to be posting all these fudnuggets in?

Lol. MRO's developers do not merge the code at GitHub. You know why? Becuae they just ctrl+c and ctrl+v chunks of code. They just jerking of in trying to imitate some intense activity, but their commits show that all real changes appear after it had been deposited at BCN. And they do not even care to mention that the code is taken from BCN which (sounds ironically) is mere stealing and violation of open-source technology regulations.

Links or STFU.

[JohnHolmes]

I think monero is great! I'm not sure what will happen with all the cryptonote clones though. Monero had such a small head start, and I think it's possible a CN clone could end up being more valuable if it added a new feature ahead of monero. Monero hasn't had enough time to establish a network effect, so the competition will be very interesting to watch. I'm buying a little of all of the main CN clones, except the ones from presidentcoin & his university buddies. They look a bit flakey. Student projects ... come on, this is serious stuff involving peoples money!!

Anything on this page is worth a look https://cryptonote.org/coins.php

[dewdeded]

Anon coins are going to blow up bigger than any other coins. There, I said it
Why? Well, Andresen already said he doesn't want to implement coinjoin into bitcoin. So, the traceability is an issue for all the criminal types. Anon coins bring solution. Would not be surprised if monero/darkcoin trade at a significant price.

And Wladimir said we would and will implement Coinjoin in BTC ...

[oda.krell]

Nice corrective trend so far, down from the poloniex ATH ("ATH" by dismissing the very first trades at 0.01). Almost perfectly within the maximum bounds of corrective retracement, without turning into a dump. Either the result of a remarkably mature market, or we have a benevolently guiding whale

EDIT (a day later): boy, that escalated quickly... down to 0.0048, but already on the rebound half a day later. Next stop, 0.0068?

[Bitcopia]

Just started digging into Monero and trying to set up a wallet, which is difficult as I am not a developer.

Do you guys think this is a good time to buy?
Where is the best place to buy? Mintpal?
Is there an easier option for storage besides trying to create my own wallet?

[statdude]

Just started digging into Monero and trying to set up a wallet, which is difficult as I am not a developer.

Do you guys think this is a good time to buy?
Where is the best place to buy? Mintpal?
Is there an easier option for storage besides trying to create my own wallet?

Everyone thinks it's a terrible time to buy - so it's probably the perfect time -

[Bitcopia]

Everyone thinks it's a terrible time to buy - so it's probably the perfect time -

Yep, I prefer to buy good fundamentals during negative corrections. Just want to make sure I'm not missing anything about those fundamentals!

Where is the best place to buy? Mintpal?
Is there an easier option for storage besides trying to create my own wallet? I need some GUI!

[statdude]

Open Source GUI is very close.
I expect it should be approved by Monero team at some point in the near future.

However I'd just diversify between exchanges with 2FA for now if you aren't comfortable using simple wallet.

[nutildah]

Warren Buffet is mainly talking about stock which belong to companies which put out actual products that have actual earnings. None of this applies to Monero or 99% of all cryptocurrencies.

[statdude]

Warren Buffet is mainly talking about stock which belong to companies which put out actual products that have actual earnings. None of this applies to Monero or 99% of all cryptocurrencies.

true.
But are you saying bitcoin has no "value"?

[oda.krell]

Looks like 23% fib of the swing from 0.00175 to 0.01 is holding so far.





But, oh boy, did I underestimate the magnitude of this dump. Guess I have to uncondition myself from the experience of trading BTC, where the moves are a bit more, hm, stately.

Anyway, I could get a taste for this altcoin trading thing. Those violent swings are fun.

[Este Nuno]

I'm worried about Vericoin taking buys away from XMR. How much of this downturn do you guys think is related to sells who went on to buy VRC? What's a good argument to convince people to hold XMR over VRC?

[ssmc2]

I'm worried about Vericoin taking buys away from XMR. How much of this downturn do you guys think is related to sells who went on to buy VRC? What's a good argument to convince people to hold XMR over VRC?

It looks like smart money is already moving from VRC to XMR and eventually XC.

[Brilliantrocket]

I'm worried about Vericoin taking buys away from XMR. How much of this downturn do you guys think is related to sells who went on to buy VRC? What's a good argument to convince people to hold XMR over VRC?

It looks like smart money is already moving from VRC to XMR and eventually XC.

I wouldn't consider someone who invests in either of those three to be very smart. Unless they do so temporarily as a way to increase their BTC, of course.

[jabo38]

Still waiting for a real anon coin