Monero (XMR) Speculation thread

[contactlight]

I'm speculating that Monero is bullshit and will go to .00000001 based on the quality of the "community" involved.

Whenever a new coin has a pack of rabid, flame-retardant fanboys foaming at the mouth over it in trollboxes and forums worldwide, it gives me pause. Most of the time these people don't even know they are brainwashed and pumping on behalf of a larger, more powerful entity who will soon hang them out to dry.

I've watched this play out least ten times in the last 2 months, and nobody learns a thing. Different coin, same mind control techniques, same pump and dump. The only thing that ever changes is the name of the coin.

This is irrelevant. What matters in the long run is if the technology efficiently covers a necessity. Privacy is a big, big necessity these days. If the MRO devs keep it solid and the hard work goes on and it turns out a solid product that addresses all of the privacy problems within monetary transactions (what BTC originally intended by failed to do so), do the math. This is how real value is created, nothing of this hyped out pumps shit. Just give it time.

Turns out the only thing Monero actually did was destroy value and it actually _was_ one of the "hyped out pumps shit(s)."

Monero won't make it. The name is too silly and the coin is too unoriginal.

Srsly?

You know someone is disturbed when they are angry at a cryptocurrency. This guy sounds like he actually has a personal vendetta with Monero.

[darkota]

Sorry but how does my message convey anger?

Because you make no sense, aka you're a troll and support one of the coinjoin coins.

Without any Bias:

1st of all: 99% of cryptocurrencies have "coin" in there name, Pinkcoin, Yellowcoin, Orangecoin, Whitecoin. Frankly, that makes all those currencies unoriginal, so your second point is Invalid simply because Monero does not have coin in it's name. Not having coin in it's name also makes it only more likely to be taken seriously by regular folk.

Anyone hearing about Pinkcoin for example, would think it's a joke/play money, just like they originally thought Bitcoin was a joke/play money. Monero, and other cryptocurrencies that do not have coin in their name, makes them seem all the more serious and professional, like an actual currency, not some toy money.

2nd of all: Monero, unoriginal? It's the 2nd cryptonote coin to be released, and the 1st with a fair distribution(no premine and no instamine like Bytecoin's 82% premine). It's code is superbly optimized, the dev team have a partnership with I2P(and frankly, Ring Signatures+ I2P would make Monero the complete anonymous coin), it has a large and stable community, and much more. Feel free to go read up on all the info(I dont have the time to write up a 3 page summary on everything Monero devs have done to optimize Monero), the Developers release Weekly Missives, that show what they accomplished each week.


For the record, I do not have much stake in Monero so nothing that I say is Bias. I simply recognize the good alt-coins(Monero) vs the shit alt-coins(Insert Here)

[drawingthesun]

Nutilduh.

Monero has a very active development and community. Things are tense right now because of the following:

1. Many uninformed people expected the developers of Monero to be superstar programmers like the worshipped developers of the scamcoins. However instead of fake developers that hype themselves up we have real hard working developers that are honest and humble. The average bitcoin user is very dumb. They see the Monero developers as weak and lazy when in fact they are capable and doing the right thing.

2. The high inflation doesn't last a long time and drops off every day. However at the moment it's causing a lot of selling pressure bringing the price down. This isn't an issue because our target Litecoin releases more coin per day and at a higher rate than Monero. So when the GUI is apart of the main development branch and the software is fully usable by the average brain, then the price may rise and it could easily absorbed the "high inflation".

3. The developers are focusing on the important behind the scenes stuff in the code. Not the GUI for now.

4. In the last two weeks. There has been a massive flood of low activity bought and paid for bitcointalk accounts spreading fraud, FUD, lies and confusion. A lot of the Monero followers are growing tired constantly having to defend against hundreds of FUD accounts.

5. Monero is far far from dead. The only negative thing is that the price has fallen. Remember this coin is only a few months old.

[smooth]

5. Monero is far far from dead. The only negative thing is that the price has fallen. Remember this coin is only a few months old.

The price fell in large part because the adding it to MintPal was way overhyped, driving the price up for no good reason. This was not done by the developers at all though, but by investors large and small who either believed that adding to MintPal was a big deal, or wanted to convince others to believe it (probably a combination of both).

All that has happened is that hype has deflated out of the coin, leaving things largely where they were before. In fact the price is still a bit higher than it was before talk about adding it to MintPal started, and the market cap is much higher (since there are more coins mined).

[nutildah]

Nutilduh.

Monero has a very active development and community. Things are tense right now because of the following:

Whats interesting is this same list of problems could be applied to a bunch of other decent coins right now. I think people are finally starting to figure out that the altcoin trend is unsustainable. Monero might have some genuinely interesting, novel features going for it that could be applicable to the real world some day, but so do about 20 other coins out there, and they are all going down in value.

As a matter of fact, the only coins that go up is whatever the Coin of the Week is, which Monero had a turn as last month.

[smooth]

Monero might have some genuinely interesting, novel features going for it that could be applicable to the real world some day

Monero does not have "a few" interesting, novel features, it is a completely new design and code base that is entirely distinct from bitcoin and all of the hundreds of clone shitcoins each of which have "a few" interesting, novel features (at best) added for polish.

The difference is one of kind, not degree.

but so do about 20 other coins out there, and they are all going down in value.

No, there are not 20 other non-scam non-clone-with-polish altcoins. Maybe one or two.

[G-Bert]

Can someone explain to me why Monero is better than XC?  Or what the differences are briefly...

I've researched XC a lot but don't know much about am Monero


Cheers

[smooth]

Can someone explain to me why Monero is better than XC?  Or what the differences are briefly...

I've researched XC a lot but don't know much about am Monero

I can't really comment in detail since I'm not an expert on XC. I won't comment on anything related to how well XC delivers on its promises or whether those promises (if delivered) offer real value to users. I just don't know

However, I do understand that fundamentally XC anonymity is based on a version of the masternode concept (in some ways similar to DRK,l but again I don't know the details), while Monero anonymity technologies are not. Monero uses cryptographic ring signatures to perform mixing without relying on any third party nodes at all.

Another difference is that XC uses a PoW/PoS hybrid, while Monero is pure PoW.

This may be helpful, at least in so far as it compares CoinJoin- and CoinSwap-style mixing with alternatives such as Monero (cryptonote) and Zerocash: http://bitcoin.stackexchange.com/questions/29471/is-there-any-true-anonymous-cryptocurrencies

[nutildah]

Monero might have some genuinely interesting, novel features going for it that could be applicable to the real world some day

Monero does not have "a few" interesting, novel features, it is a completely new design and code base that is entirely distinct from bitcoin and all of the hundreds of clone shitcoins each of which have "a few" interesting, novel features (at best) added for polish.

The difference is one of kind, not degree.

but so do about 20 other coins out there, and they are all going down in value.

No, there are not 20 other non-scam non-clone-with-polish altcoins. Maybe one or two.

I dunno, it just seems that if you were right and I was wrong the price would be faring better than it currently is.

[smooth]

Monero might have some genuinely interesting, novel features going for it that could be applicable to the real world some day

Monero does not have "a few" interesting, novel features, it is a completely new design and code base that is entirely distinct from bitcoin and all of the hundreds of clone shitcoins each of which have "a few" interesting, novel features (at best) added for polish.

The difference is one of kind, not degree.

but so do about 20 other coins out there, and they are all going down in value.

No, there are not 20 other non-scam non-clone-with-polish altcoins. Maybe one or two.

I dunno, it just seems that if you were right and I was wrong the price would be faring better than it currently is.

It is a project that is alpha-level software, with no integrated GUI, no lightweight wallet or web wallet, high resource requirements to use the full wallet, zero applications or merchants, and it is still in the top 20 by market cap. That is very respectable.

[nutildah]

Monero might have some genuinely interesting, novel features going for it that could be applicable to the real world some day

Monero does not have "a few" interesting, novel features, it is a completely new design and code base that is entirely distinct from bitcoin and all of the hundreds of clone shitcoins each of which have "a few" interesting, novel features (at best) added for polish.

The difference is one of kind, not degree.

but so do about 20 other coins out there, and they are all going down in value.

No, there are not 20 other non-scam non-clone-with-polish altcoins. Maybe one or two.

I dunno, it just seems that if you were right and I was wrong the price would be faring better than it currently is.

It is a project that is alpha-level software, with no integrated GUI, no lightweight wallet or web wallet, high resource requirements to use the full wallet, zero applications or merchants, and it is still in the top 20 by market cap. That is very respectable.

Either "very respectable" or a sign that people will throw their money at just about anything. Time will tell.

[G-Bert]

Can someone explain to me why Monero is better than XC?  Or what the differences are briefly...

I've researched XC a lot but don't know much about am Monero

I can't really comment in detail since I'm not an expert on XC. I won't comment on anything related to how well XC delivers on its promises or whether those promises (if delivered) offer real value to users. I just don't know

However, I do understand that fundamentally XC anonymity is based on a version of the masternode concept (in some ways similar to DRK,l but again I don't know the details), while Monero anonymity technologies are not. Monero uses cryptographic ring signatures to perform mixing without relying on any third party nodes at all.

Another difference is that XC uses a PoW/PoS hybrid, while Monero is pure PoW.

This may be helpful, at least in so far as it compares CoinJoin- and CoinSwap-style mixing with alternatives such as Monero (cryptonote) and Zerocash: http://bitcoin.stackexchange.com/questions/29471/is-there-any-true-anonymous-cryptocurrencies

xc is different from drk in the fact that any wallet can be a node so it's completely decentralised rather than semi.  I'd recommend checking them out.  The website explains it better than I can.  Looking very promising as already has bounty out to crack anonymity has encrypted messaging working perfectly and some new devs have joined aswell as a marketing guy who's worked  for Microsoft and addidas.

I'll deffo keep an eye on Monero though.  Thanks for info.  It's hard to follow more than a couple coins I find.

[giveBTCpls]

It cannot be said enough times that beside delivering superior tech for anonimity, being able to buy stuff with the coin is key. We need ideally hidden services, hiden stuff in i2p, so you can buy some special stuff there, that you cannot find anywhere else. Make it the go-to deep web coin is I think the big market for this.

[hodlmybtc]

It cannot be said enough times that beside delivering superior tech for anonimity, being able to buy stuff with the coin is key. We need ideally hidden services, hiden stuff in i2p, so you can buy some special stuff there, that you cannot find anywhere else. Make it the go-to deep web coin is I think the big market for this.

Definately true, but Monero is still very young and before being able to buy stuff with it the coin and development definately needs to mature for a while.

Bitcoin merchant adoption has also been non existant in the early days and is increasing exponentially in the last couple years.

When Monero is being used by more and more users in the (near) future and if the market has decided that it's the #1 anonymous coin it will definately get attention from hidden services, Silk Road #258 etc

For now the average Joe buying/selling stuff in hidden services/dark markets has a hard time understanding/buying Bitcoin, let alone something like Monero in it's current state.

[Bitsaurus]

Monero has been the first alt-coin that I have choosen to keep in 2014.  Many coins do have nice features and implementations, but if they fail to get the basics down then they lose momentum.  If you can't even develop a basic GUI wallet  for your coin you're not going to add noobs.  I think Monero has momentum right now, where it goes in 1 month remains to be seen.

[Shak]

i only invested in bitcoin before i stumbled about monero. it's the first coin to offer own benefits, in this case proven, unbreakable anonymity without relying on centralized structures - and at the same time beeing distributed in a normal fashion (no ninja-/premining). 99.9% of the other coins fail to achive the last, while the rest is building upon workarounds to mimic anonymity. so i took 10% of my btc and got me some xrm lets see, if the better protocol wins in this fud-war or if the mayority of users decides to go for an unsafe, centralized coin (nope, i can't imagine that a premined coin will get any atention beyond lunatics, no serious investor will put money into it, only some "i want to get rich, quick!" guys from this forums)

[titan86]

IMO the main drawback of Monero is their team because they often complain about other coins’ faults instead of making their own coin better.

[fatnlovelyfred]

Why the coins name was changed? Devs wanted to clean the reputation? Was there an objective reason?

[smooth]

Why the coins name was changed? Devs wanted to clean the reputation? Was there an objective reason?

Several of the stakeholders felt the new name was a better marketing vehicle and in addition the old name had been heavily cyber squatted. Two votes were held first on IRC and second on this forum. Both votes were in favor of the change.

[fluffypony]

IMO the main drawback of Monero is their team because they often complain about other coins’ faults instead of making their own coin better.

I've never complained about any other coin's faults except one post ages ago in response to AlexGR. Your post is baseless - please link me to these posts where the core team is complaining about other coins' faults.