rpietila Altcoin Observer

[Saigonsmokes]

Dark = market leader

Indisputibly so.  I consider dark to be shady, however.  I sold out of drk and moved to xmr for three primary reasons: (1) CN protocol allows me to actually control the size of my anonymity set, and I have confidence that the set will hold; not so drk.  (2) P&D/premine/ponzi factors are beyond my tolerance level in drk.  (3) Snake oil crypto claims raise my hackles.  I'm just not going to trust my life and treasure to drk' s protocols.  Great coin if you love forks, however.

I don't think anyone advocates xmr more strongly than I do.  I am taking my own medicine, and I don't want anyone else to get sick either.  It definitely benefits me if others adopt XMR, but I strongly believe that it will benefit them as well, as long as they don't own more than they can hold in strong hands.  

It isn't the leading coin with privacy claims, in terms of market cap.  It isn't the first cryptonote protocol coin.  It isn't the most user friendly coin by a nautical mile.  But it does have a balance of factors which convince me that it is the leading candidate to supply the net with private liquidity for years to come.  In areas where it is weak, it is good enough, and improving.  In areas where it is strong, it is distinguished from its competitors by the honesty and frankness of its development team, it's open-source ethos, its fair launch, its methodical, un-hyped progress, in a well-planned and prioritized process, and the size and growth of its hashing infrastructure.

I really do think that slow and steady can win this race.  It's already good enough for technically aware people to use, and it won't take long for it to be good enough for anyone who is comfortable with bitcoin today to use it.  How long it will take before it is suitable for mainstream use, I dare not venture -- years, I would say, since that is a very high bar of usability (think iPod).  But it has all it needs now to get there in due time.

Personally, I'm invested, to some degree or the other, in the whole anonymous market - so I don't have to worry so much about who wins and who doesn't. I'm well hedged so to speak.

There are fundamentals in place that I have analyzed in the DRK thread, with great precision - as to how the situation would evolve in terms of marketcaps and other anon coins that would join the party after DRK... That was ~4 months ago. The context of the discussion was about the need for marketing and promotion of DRK, where I said that the fundamentals of explosive growth in new markets will take care of everything - so no real need for promo/hype/spamming etc.

The general crypto boom is over. Those who saw 8000%+ profits from BTC in < 2 years were the lucky few. Who we be the Levi Strauss of the crypto era - a man who started a small business selling new-fanged denim jeans to the gold miners back in '49. Perhaps you've heard Levi's?

I think cryptos in general have a lot of potential. I mean most people don't even know what Bitcoin is, let alone altcoins. And, if you factor in that around three quarters of the planet live in countries with high inflation rate (not EUR, GBP, USD etc - which of course are inflated too but to a lesser degree), cryptos could be a nice alternative to the national currency - and much more convenient than gold for trade purposes.

DRK looks interesting enough, but whether or not it shoots up and outrageous amount to $20, or even $100 by next year is largely irrelevant,

Darkcoin is providing a second option vs the monopoly of transparency in which other coins are in. This means that if someone wants their crypto deposits / crypto transactions to be more private they'll have to move over to DRK. The transparent market is at 100% right now while the more-private market is at near 0%. In terms of "market growth potential" what will happen should be pretty easy to figure out.

With a market cap of ~8bn (BTC+other alts) to 3mn (DARKcoin), the prospect of capital flowing toward the DRK side is "significant". Even if one per cent of the "transparent" market moves to the more private market, we're talking about 80mn USD boost that is there to share for DRK or other anon coins which may follow - and they will not be necessarily mutually exclusive (one could practice transferring money through 2-3 anon coins, implementing different solutions, for extra safety / privacy). Needless to say what may happen if tax authorities start to crack down on BTC. The "just 1%" may suddenly become several % - with a corresponding boost in value of the private coins.

I mean, from a market perspective, and with such prospects being there, even if the anon market is shared by 2-3-5 different coins in the long run, this is a 9-digit to 10-digit market (xxx millions to billions) that they will share between them. Current market cap of a few million USD may seem like a joke by then. With such fundamentals, who needs hype, or pump and dumps?

The same applies today. The market cap of anon coins is nearly identical with my prediction, and it is dominated by DRK (>50%), Bytecoin & clones and Bitcoin-based pumps & dumps or coins that are ...trying. I also predict this 1% will gradually be extended towards the 10% mark - but that will be slower in comparison to the 1% (that should be obvious).

The only piece of the puzzle left, to diversify into, are zero-proof coins - which can come in and claim superiority against mixing practices in Bitcoin & Bytecoin.

I do have some ANCs from the times when DRK and ANC were the only anon coins in existence (zerocash wasn't an option back then), so my hedge of DRK was ANC by necessity. ANC has been very low in price (given the coins in circulation) and has promised zerocash integration in early July... if that hedge also manages to blow up in price, well, ...I'll be damned...

It's funny how you support a coin(Darkcoin) with a 50% instamine by the developers at launch..they didn't even bother making a new coin when they could of to get rid of the instamine because they hold most of that instamine themselves...Plus its masternodes are something that could always be compromised. Most masternodes are hosted on Amazon servers, and they can all be taken down, by DDOS attacks etc etc, thereby abolishing Darkcoin's "anonymity". Not to mention, Darkcoins anonymity stems from coinjoin, which itself is hardly anonymous, see here: http://www.coinjoinsudoku.com/advisory/

Don't get me wrong, I myself own 210 darkcoin(the most of any crypto I have), but I value it as a pump and dump only, as do most holding Darkcoin right now....it's 50% instamine and coinjoin anonymity based on human backed masternodes is just stupid....no other way to say it.

Even Zerocash's huge trust issue is a better anonymity alternative than Darkcoin.

Ignore DARKOTA he is a troll who PUMPS and DUMPS - Look at his original thread here:

https://bitcointalk.org/index.php?topic=658541.100

Then look here:

 https://bitcointa.lk/threads/litecoin-is-officially-dead.331214/page-5

Troll on indeed:

http://coinmap.org/
www.uselitecoin.com

This thread is starting to show the true TROLL: I have been PM'ing everyone in this thread, some have even joined the Litecoin Talk forum because of this troll so i actually think its ok his lies - everyone is being PM'd this:

'Litecoin is dead'

Look at the original thread - he has deleted more than 40 posts from people supporting Litecoin, he is a troll who pumps and dumps

[aminorex]

If Monero loses because of the marketing hype of Boolberry, I will get out of all CryptoNote and back into Bitcoin as it would be proof a CryptoNote coin cannot be a store of value. I will not have my wealth held hostage to the pump and dump of the alt coin world.

I see no reason to think that boolberry can remove monero from its leadership.  it might exceed monero in market value, conceivably, for a while, but do you seriously think any significant wealth will be stored as boolberries?  the big prize is monero's to lose.  short term price fluctuations won't change that.  attorneys won't be making private settlements in boolberries. corporations won't be making international payments in boolberries. african despots won't be buying retirement villas with boolberries. generational wealth transfers won't consist of private keys to boolberries. even remittance income...not boolberry territory.

does boolberry have a plan for ip anonymization?

[aminorex]

Ignore DARKOTA

You have been stalking darkota and spamming your reprehensible, slanderous dreck over every thread for too long.

I will say no more only because your outrageous trolling would cause me to exceed the bounds of decency.

[aminorex]

Am I right in thinking that every time Monero goes lower than what we expect. It'll encourage the price to go even lower?

That's momentum and overshoot for you.  It is a great day for buying xmr.  I can assure you that they will not be buying back my monero at a discount. Only foolish losers ( and forced sellers ) would sell a single xmr at these levels.  Bagholding failed pump&dumpers.

[drawingthesun]

Am I right in thinking that every time Monero goes lower than what we expect. It'll encourage the price to go even lower?

That's momentum and overshoot for you.  It is a great day for buying xmr.  I can assure you that they will not be buying back my monero at a discount. Only foolish losers ( and forced sellers ) would sell a single xmr at these levels.  Bagholding failed pump&dumpers.

I'm just curious who does sell at these levels. It must be botnets right? The difficulty is too high for people to sell at this level.

[aminorex]

People mine at widely varying costs. If you hardware plant is paid for and your electric is cheap or free there is little reason not to dump.   The marginal supply only sets a floor after cheap hot coins have burned off.  But rising difficulty should take care of it in a few days regardless.

Also some short term traders who bought at the plx lows about .002 but missed the highs will be selling - mostly those who trade alts with no regard for quality or fundamentals.  Eventially they run out.

The deeper and longer this goes, the more emphatic and impulsive the subsequent rise will be.  I am hoping the rise is slower and steadier on the next pass.  Probably I will sell some when it passes .0012 in an attempt to mitigate any spike.

[r0ach]

Anybody read this post about Darkcoin before?  Yea, we all know it was instamined/premined, but the amount of detail this guy put into his Darkcoin instamine analysis and the amount of coins that went to so few people is mind boggling.  It really does look like it was done at a level rivaling that of scamcoins like Stackcoin.

https://bitcointalk.org/index.php?topic=560138.msg7541076#msg7541076

[darlidada]

Am I right in thinking that every time Monero goes lower than what we expect. It'll encourage the price to go even lower?

That's momentum and overshoot for you.  It is a great day for buying xmr.  I can assure you that they will not be buying back my monero at a discount. Only foolish losers ( and forced sellers ) would sell a single xmr at these levels.  Bagholding failed pump&dumpers.

I'm just curious who does sell at these levels. It must be botnets right? The difficulty is too high for people to sell at this level.

It's the end of the month. People who have costs and are dependent of their mining revenue are selling. Same thing happened last month. Last time we went to 8 mBTC was 1 month ago. We hit 2 mBTC afterwards. Maybe we'll hit 2 mBTC too, who knows ? But good news are coming. We're nearly at the end of the given time for the GUI bounty. I think everything could turn around really fast.

I'll keep buying anyway...

[aminorex]

Bid sum is rising nicely now.  Shouldn't be much more before the turn.

[cAPSLOCK]

Ignore DARKOTA he is a troll who PUMPS and DUMPS

Your crossposted repeato-spam begins to reek of buthurtedness and is actually beginning to have the effect of making me trust darkota more even after he called me an idiot for pointing out we had probably seen the majority of the mintpal impact priced in before it made the exchange.

I have just ignored you.

[Okurkabinladin]

I apologize in advance for noobish question, but it is possible to buy Monero on poloniex without bothering with source software of XMR (frankly, tutorials seem like moonspeak to me)? I am not interested in mining or cold storage. First time poloniex user.

Thank you all for answer.

[drawingthesun]

I apologize in advance for noobish question, but it is possible to buy Monero on poloniex without bothering with source software of XMR (frankly, tutorials seem like moonspeak to me)? I am not interested in mining or cold storage. First time poloniex user.

Thank you all for answer.

Yes, you can buy any coin on an exchange and leave it on the exchange. It isn't advised in case the exchange gets hacked, but nothing stops you from doing this.

[bangersdad]

I apologize in advance for noobish question, but it is possible to buy Monero on poloniex without bothering with source software of XMR (frankly, tutorials seem like moonspeak to me)? I am not interested in mining or cold storage. First time poloniex user.

Thank you all for answer.

if you do keep XMR on poloniex then make sure you have very strong password and USE 2FA without fail!

but poloniex are pretty safe exchange - they were hacked a while back but Busoni repaid all stolen funds.

[Dotto]

Even better you can move 1/3 of your your moneros to mintpal and other 1/3 to cryptsy, so the probability of getting goxxed get lowered as well, (and let you play some arb, in case of) which is exactly what Im doing since the GUI wallet arrives

[Okurkabinladin]

Thank you, that is relieving. I am aware of possible security threats, but current lack of gui for Monero and instructions like "update your wallet exactly like this or lose your coins" seem downright nightmarish to me. Again, thank you.

[Dotto]

By the way, monero flashcrash to .038 and rapid recover in a downtrend, to me it smels like the calm before the storm.

[bangersdad]

Thank you, that is relieving. I am aware of possible security threats, but current lack of gui for Monero and instructions like "update your wallet exactly like this or lose your coins" seem downright nightmarish to me. Again, thank you.

exactly the kind of post that proves the gui wallet will bring hoardes of new xmr investors.  good news is coming.

[aminorex]

If Monero loses because of the marketing hype of Boolberry, I will get out of all CryptoNote and back into Bitcoin as it would be proof a CryptoNote coin cannot be a store of value. I will not have my wealth held hostage to the pump and dump of the alt coin world.

Everyone who invests in crypto faces crises of confidence.  If the fundamentals haven't changed, you should not allow ephemeral informational factors to dissuade you from a sound investment.  My own major crises of confidence stemmed from the DDOS attacks and FUD during the malleability debacle, and a Gox loss.  The stress I experienced in those times induced ideation which, while reasonable in itself, was detached from the fundamental underlying reasons for my participation in bitcoin.  What applies to bitcoin, often, applies with 10x intensity to alts.  Most people have a hard time taking the fundamentals of bitcoin seriously, and much more so alts.  But the remain, fundamental, slowly evolving, determining the long-term price attractor.  Fluctuations in price least of all should affect your investments in crypto, if you are seriously interested in the long-term success of the project.

[aminorex]

good news is coming.

I expect that time will prove you correct in this.  However, I would reiterate on the bull side what I said on the bear side:  Whatever news occurs will only impact the ephemeral price, and not the long-term fundamental value of XMR.  This principle applies equally to fear as to greed, to mania as to panic.

[tacotime]

Thank you, that is relieving. I am aware of possible security threats, but current lack of gui for Monero and instructions like "update your wallet exactly like this or lose your coins" seem downright nightmarish to me. Again, thank you.

There's never been a bug like that, there's just been some bugs with the wallet thinking money is spent when it isn't. As long as you have your .keys file or mnemonic phrase you've always been fine.