rpietila Altcoin Observer

[saddambitcoin]

Rpietila, what do you think about short term value of XMR? Can we expect a dump after coin is added to Mintpal?

bullish pennant forming on XMR

i suspect next level of resistance will be 7.5 mBTC

target - 1 week day

edit: monero is #4 and rising on mintpal

[1714882267]

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[1714882267]

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[1714882267]

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[EFS]

I'm watching Monero closely. Do you think this rising price is healthy for Monero's long term value?

[rpietila]

I'm watching Monero closely. Do you think this rising price is healthy for Monero's long term value?

Higher price gives more resources to the devs (who are typically large holders) and early investors, and makes all holders happy. This is a good thing for the coin, and I would say definitely better than if it was cheap for a long time and then shot up in price. In the latter case it would be effectively premine from the late entrants' point of view and it might be rejected, similarly as I reject all the coins that are more than 10% mined when I hear about them.

[pönde]

Okay, there was a reason why I wrote on alts. Cause I have just made my first altcoin investment ever! Monero has a trait which pretty much all other alts lack: slow and geometrically decreasing issuance.

Hello Risto.
How do you store your Monero? Mac or Windows? Would you offer any Monero holding services?

I am Linux user and have been unable to install working Monero wallet, not daemon or GUI. Can anyone help on this? Are Monero-wallets easy to install on Mac or Windows? I would not trust much on exchanges or on-line-wallets but is there anyway anything at least somehow reliable ones available?

[Apraksin]

When we're on the topic of privacy coins, how come no one talks about anoncoin? The zerocoin implementation should be finished within the foreseeable future. Also it's dirt cheap at the moment.

[tupelo]

Yes yes Monero has truly been a generous giver so far

Anyway, I am beginning to get cautious and already sold my stash for now. Good luck to all supporters

[tacotime]

Anyone watching Monero (XML) lately? Wow, it has been up to almost .005 BTC. There are rumors of Mintpal implimentation, might be a part of it.
Thanks to those who mentioned it, started picking some up at .0026, bit more at .0038-.0041. I feel ok in this range.

Mintpal anticipation

I'm not sure we should care so much about mintpal
Mintpal DRK 24h Volume 395.119 BTC
Poloniex XMR 24h Volume 475.91 BTC

Higher price gives more resources to the devs (who are typically large holders) and early investors, and makes all holders happy. This is a good thing for the coin, and I would say definitely better than if it was cheap for a long time and then shot up in price. In the latter case it would be effectively premine from the late entrants' point of view and it might be rejected, similarly as I reject all the coins that are more than 10% mined when I hear about them.

I doubt it, there's still massive amounts of inflation (~23,040 coins to miners each day).
http://monerochain.info/charts/coins

It's not until 2-3 years in that we'll likely see obscene increases in price given simple economics.

[TheKoziTwo]

When we're on the topic of privacy coins, how come no one talks about anoncoin? The zerocoin implementation should be finished within the foreseeable future. Also it's dirt cheap at the moment.

There is a reason it's dirt cheap. Market sentiment clearly indicates a complete lack of faith in Gnos1s ability to complete ZC within the estimated time frame. This is no surprise, he already has broken the last 2 estimates that were made. If you believe (or know) that he will succeed, then indeed, this is a great opportunity, but if he fails, the coin really won't have much value left. The real ZC is right around the corner, how is ANC supposed to compete with them if they launch last?

I'm personally invested in both monero and anoncoin (big mistake), but monero has a working implementation and all the attributes that makes it a good crypto currency, anoncoin on the other hand is currently just a set of vague estimations and promises that may never come to fruition.

[pandher]

Anyone watching Monero (XML) lately? Wow, it has been up to almost .005 BTC. There are rumors of Mintpal implimentation, might be a part of it.
Thanks to those who mentioned it, started picking some up at .0026, bit more at .0038-.0041. I feel ok in this range.

Mintpal anticipation

I'm not sure we should care so much about mintpal
Mintpal DRK 24h Volume 395.119 BTC
Poloniex XMR 24h Volume 475.91 BTC

Yes, we shouldn't, but most of traders are buying up now because of the much awaited 'grand' exchange opening. The price just shot up when XMR got listed on the voting page, it was stable before at 0.002 range. It all looks like a pump now.

I agree we are not going to see any moon landing before 2 years when the supply should start drying up

[rpietila]

Higher price gives more resources to the devs (who are typically large holders) and early investors, and makes all holders happy. This is a good thing for the coin, and I would say definitely better than if it was cheap for a long time and then shot up in price. In the latter case it would be effectively premine from the late entrants' point of view and it might be rejected, similarly as I reject all the coins that are more than 10% mined when I hear about them.

I doubt it, there's still massive amounts of inflation (~23,040 coins to miners each day).
http://monerochain.info/charts/coins

It's not until 2-3 years in that we'll likely see obscene increases in price given simple economics.

Which part of the quote do you doubt?

[tacotime]

Which part of the quote do you doubt?

This part:

This is a good thing for the coin, and I would say definitely better than if it was cheap for a long time and then shot up in price. In the latter case it would be effectively premine from the late entrants' point of view and it might be rejected, similarly as I reject all the coins that are more than 10% mined when I hear about them.

I guess it depends on how you qualify cheap though -- Bitcoin's price was obscenely cheap early on. I guess I wasn't sure if you were referring to Monero as being like this, though.

[Its About Sharing]

Anyone watching Monero (XML) lately? Wow, it has been up to almost .005 BTC. There are rumors of Mintpal implimentation, might be a part of it.
Thanks to those who mentioned it, started picking some up at .0026, bit more at .0038-.0041. I feel ok in this range.

Mintpal anticipation

I'm not sure we should care so much about mintpal
Mintpal DRK 24h Volume 395.119 BTC
Poloniex XMR 24h Volume 475.91 BTC

Higher price gives more resources to the devs (who are typically large holders) and early investors, and makes all holders happy. This is a good thing for the coin, and I would say definitely better than if it was cheap for a long time and then shot up in price. In the latter case it would be effectively premine from the late entrants' point of view and it might be rejected, similarly as I reject all the coins that are more than 10% mined when I hear about them.

I doubt it, there's still massive amounts of inflation (~23,040 coins to miners each day).
http://monerochain.info/charts/coins

It's not until 2-3 years in that we'll likely see obscene increases in price given simple economics.

I'm really curious where this volume is coming from. Due to the distribution, it doesn't make a whole lot of sense to be trying to grab so much so soon, unless... 
Any ideas?

[AlexGR]

Anyone watching Monero (XML) lately? Wow, it has been up to almost .005 BTC. There are rumors of Mintpal implimentation, might be a part of it.
Thanks to those who mentioned it, started picking some up at .0026, bit more at .0038-.0041. I feel ok in this range.

Mintpal anticipation

I'm not sure we should care so much about mintpal
Mintpal DRK 24h Volume 395.119 BTC
Poloniex XMR 24h Volume 475.91 BTC

Higher price gives more resources to the devs (who are typically large holders) and early investors, and makes all holders happy. This is a good thing for the coin, and I would say definitely better than if it was cheap for a long time and then shot up in price. In the latter case it would be effectively premine from the late entrants' point of view and it might be rejected, similarly as I reject all the coins that are more than 10% mined when I hear about them.

I doubt it, there's still massive amounts of inflation (~23,040 coins to miners each day).
http://monerochain.info/charts/coins

It's not until 2-3 years in that we'll likely see obscene increases in price given simple economics.

I'm really curious where this volume is coming from. Due to the distribution, it doesn't make a whole lot of sense to be trying to grab so much so soon, unless...  
Any ideas?

I believe some of the volume that found its way to MRO is related to the DRK's primary buyer, who then also bought XC and also bought a few MROs as well in the prior spike to 0.008, probably hedging his options. The current run is more of a mystery to me.

[slapper]

Just overtook XC in overall marketcap. Come on, why did it even take this long!

I just think it is the discovery about the coin leading to a genuine interest in accumulating XMR at this stage. It doesn't feel like an artificial/manipulated pump.

[human]

I just think it is the discovery about the coin leading to a genuine interest in accumulating XMR at this stage. It doesn't feel like an artificial/manipulated pump.

It feels like Bitcoin early on. Just better.

[rpietila]

Which part of the quote do you doubt?

This part:

This is a good thing for the coin, and I would say definitely better than if it was cheap for a long time and then shot up in price. In the latter case it would be effectively premine from the late entrants' point of view and it might be rejected, similarly as I reject all the coins that are more than 10% mined when I hear about them.

I guess it depends on how you qualify cheap though -- Bitcoin's price was obscenely cheap early on. I guess I wasn't sure if you were referring to Monero as being like this, though.

I was saying that Monero has a slow emission schedule, which is good. But if the price stays low until nearly all have been mined, and then shoots up, the coin can be perceived to be a premined coin*, meaning that the benefit is lost. In this respect, it is good that the price goes up in the meantime instead of going down.

*) Quark is an example of an effective premine masquerading as a legit mining period.

[rpietila]

Hopefully nobody bought QCN. Don't think it's going to rise again...

[pandacoin]

Hopefully nobody bought QCN. Don't think it's going to rise again...

It was a typical pump&dump coin.

Monero made us happy. What's your shot term value expectation? I remember you said "I don't buy with 0.01 BTC price." What's the selling point for short term?

[r0ach]

Monero needs higher block time, at least 2 minutes like the regular Bytecoin.  It's an already unscalable coin with high storage requirements where pruning won't work.  Why make the problem worse with 1 minute blocks?  Instead of forking to fix this problem while you still can, the can is being kicked down the road to be ignored until it can't be changed.

Also, this thread is severely lacking in free lunches.  I made a call on XC that you would have more than doubled your money in a short time span buying it weeks ago in the thread.

[Its About Sharing]

Anyone watching Monero (XML) lately? Wow, it has been up to almost .005 BTC. There are rumors of Mintpal implimentation, might be a part of it.
Thanks to those who mentioned it, started picking some up at .0026, bit more at .0038-.0041. I feel ok in this range.

Mintpal anticipation

I'm not sure we should care so much about mintpal
Mintpal DRK 24h Volume 395.119 BTC
Poloniex XMR 24h Volume 475.91 BTC

Higher price gives more resources to the devs (who are typically large holders) and early investors, and makes all holders happy. This is a good thing for the coin, and I would say definitely better than if it was cheap for a long time and then shot up in price. In the latter case it would be effectively premine from the late entrants' point of view and it might be rejected, similarly as I reject all the coins that are more than 10% mined when I hear about them.

I doubt it, there's still massive amounts of inflation (~23,040 coins to miners each day).
http://monerochain.info/charts/coins

It's not until 2-3 years in that we'll likely see obscene increases in price given simple economics.

I'm really curious where this volume is coming from. Due to the distribution, it doesn't make a whole lot of sense to be trying to grab so much so soon, unless...  
Any ideas?

I believe some of the volume that found its way to MRO is related to the DRK's primary buyer, who then also bought XC and also bought a few MROs as well in the prior spike to 0.008, probably hedging his options. The current run is more of a mystery to me.

I was thinking about this whole Crypto space before. We here are all fairly to extremely familiar with Cryptos. We can see  where this is going, at least beyond most peoples event horizon (as this isn't even on their radar yet.) Most people just see the money aspect, but I'm sure most of us here see the far reaching consequences of this space. When the Crypto field REALLY starts to take off, the prices are going to shock people. Further, the 2.0 Cryptos might be the next BTC like wave, price wise anyway. I really feel that many smaller Cryptos now (those that succeed) will have Market Caps in the billions. I'm not saying that is justified, just that the money is going to flood the space, just like the internet bubble. Some Cryptos might find niches or even countries to be used in and I get the feeling there will be lots used, though just a handful of medium tier ones and perhaps less than a handful of core coins.

I just think this space is still getting started, and XMR right now might be like BTC was 4 years ago - Most didn't see the value. I hope it can hang on as their are so many coming out and it is turning intoa  bit of a marketing gimmick e.g. - See Doge. I bet those S-Curve diagrams will come into play, across the board.

I get the feeling that Cryptos are going to make the internet boom seem small in comparison (and I was in that boom). Redefining money seems to be happening all of a sudden, where as controlling information has been getting harder and harder, dating back to the printing press. At this point the internet is like electricity was to electronics, sort of a necessity. And they Cryptos are like the electronics.

Yes, it is still building out, but I think/feel we are onto another layer here, a layer that starts with money, but that blockchain is going to shock people, something fierce.

Its about sharing