rpietila Altcoin Observer

[BitGucci]

I hit my limit for the week with a buy at 0035.  Next week I may want more.

i was surprised to see my 0035 order filled overnight, feeling good waking up with 1000 more XMR

We are both lucky, it seems.  Well, I was watching it like a hawk, so you're luckier.

This is my problem with XMR...........

With the GUI Wallet , more miners (higher diff + lower reward) and new investors this usually levels out the inflation problem imo .

I know, GUI wallet is like the holy grail for Monero. Once that's achieved, price will go up like a rocket.

[GreekBitcoin]

I know, GUI wallet is like the holy grail for Monero. Once that's achieved, price will go up like a rocket.

posts like this actually harm a coin... I seriously hope it wont go like a rocket cause then it has to drop like a rocket too

[aminorex]

I know, GUI wallet is like the holy grail for Monero. Once that's achieved, price will go up like a rocket.

posts like this actually harm a coin... I seriously hope it wont go like a rocket cause then it has to drop like a rocket too

The easiest fix for that is to sell some when it gets outrageous, and buy them back (plus a bonus) when it gets outrageous again on the other side.  It's good for you, and it's good for the coin.

[BitGucci]

I know, GUI wallet is like the holy grail for Monero. Once that's achieved, price will go up like a rocket.

posts like this actually harm a coin... I seriously hope it wont go like a rocket cause then it has to drop like a rocket too

stop being a scardy cat. Not everyone is a tech geek. The average cryptocoin user wants a GUI wallet and thats why monero hasnt expanded far yet.

GUI wallet would help greatly with that. And going up like a rocket doesnt mean itll drop like a rocket either, it would go up and most likely fall after reaching a high point, but when it does fall itll stabilize at a low much higher than the ATH we experienced on poloniex recently.

You need to want innovation, be open to change not against it greekbitcoin....

[statdude]

@Am
I agree and realize my post sounds stupid - but it's based on trying to keep a positive image of monero in the mind of noobs getting burned who only appreciate stable price and "moon" and not corrections. Although if it tanks to 0.001 I'll just continue to line my pockets. I picked up more at 0.0037.

Anyways, I'll pretend my call to action worked because the depth is looking a lot more bullish today. Also technicals reversing (higher RSI - bullish reversals).

however, I can't say technicals look bad on VRC. that coin is going totally insane. could double. I don't own any though, don't like distribution, too much like NXT.

[GreekBitcoin]

I know, GUI wallet is like the holy grail for Monero. Once that's achieved, price will go up like a rocket.

posts like this actually harm a coin... I seriously hope it wont go like a rocket cause then it has to drop like a rocket too

stop being a scardy cat. Not everyone is a tech geek. The average cryptocoin user wants a GUI wallet and thats why monero hasnt expanded far yet.

GUI wallet would help greatly with that. And going up like a rocket doesnt mean itll drop like a rocket either, it would go up and most likely fall after reaching a high point, but when it does fall itll stabilize at a low much higher than the ATH we experienced on poloniex recently.

You need to want innovation, be open to change not against it greekbitcoin....

i am mostly referring to the term "rocket" from an account that was created today...

[tacotime]

I know, GUI wallet is like the holy grail for Monero. Once that's achieved, price will go up like a rocket.

Unfortunately, this is a pretty common misconception. Even if Bitcoin had the world's shiniest QT GUI, no one would ever use Bitcoin if the daemon crashed every few hours, the wallet periodically screws up reporting the correct values and needs to be resync'd, and both the daemon and wallet randomly disconnected from one another and stopped obtaining input, which is what currently often happens with the CN core code. It's analogous to a cruise ship with a beautiful interior gallery and guest rooms, but which has massive apparent holes in the hull of their ship. No one in their right mind would step aboard.

Most of our recent development has been ensuring that this stuff works properly: http://www.reddit.com/r/Monero/comments/29b8ll/testing_new_monero_features/

[BitGucci]

I know, GUI wallet is like the holy grail for Monero. Once that's achieved, price will go up like a rocket.

Unfortunately, this is a pretty common misconception. Even if Bitcoin had the world's shiniest QT GUI, no one would ever use Bitcoin if the daemon crashed every few hours, the wallet periodically screws up reporting the correct values and needs to be resync'd, and both the daemon and wallet randomly disconnected from one another and stopped obtaining input, which is what currently often happens with the CN core code.

Most of our recent development has been ensuring that this stuff works properly: http://www.reddit.com/r/Monero/comments/29b8ll/testing_new_monero_features/

Ok gotcha! 

[tacotime]

This is my problem with XMR. I always feel like i NEED to watch the price like a Hawk in order to protect my investment because inflation is so high. I feel I HAVE TO use the volatility of the price in order to increase my stack so XMR can be a good store of value.

I dont need to do this with bitcoin. I dont care about the short term price because it's such a good store of value.

I must be too heavily invested in XMR and this decrease my productivity.

The surefire way to lose money in investments is to listen to what the market says. As Benjamin Graham so simply put it, the market is like an insane bipolar man who comes to your door when you wake up screaming and telling you to buy or sell for some ridiculous reason, then returns hours later to tell you to have the opposite behaviour, but for an equally ridiculous reason. You wouldn't listen to this sort of person in real life, so why would you let the market woo you any moreso?

The effect of the inflation rates being initially set very high for Monero so that anyone who has stepped in and discovered the technology within the first two years will be able to purchase the coin cheaply. This also means high volatility in the meantime, but you know the math, the applied cryptography, the eventual number of coins, and the people currently working on the development of the coin. These latter facts should have you figure out the true value of the cryptocurrency, regardless of what the market thinks, and should help you sleep at night.

[aminorex]

Regarding VRC, the quality of the work can be observed in this (unverified, please confirm or deny if you have details):

An alert was sent out on the BC network (blackcoin) today.  It was received on the VRC network as well.  VRC is a BC clone with parameter changes, and a couple of websites.

https://twitter.com/BlackCoinPromo/status/481037884112519168

[aminorex]

coin is rising rapidly now.  i'm hoping it will stabilize around the marginal mining cost (about 0052) for a while, wait for hash rate to come up with it for a while.

[Este Nuno]

Since this is the Monero thread I need some of you to talk some sense in to me. After seeing Vericoin I can't come up with a good reason to hold XMR when VRC is looking better in every aspect I can think of. Surely I'm missing something here and I'd like to be set straight if possible.

Does Monero have a GUI wallet yet btw? If not, timeline?

[Pale Phoenix]

however, I can't say technicals look bad on VRC. that coin is going totally insane. could double. I don't own any though, don't like distribution, too much like NXT.

VRC is being actively pumped so the "technicals" are a creation of the group in control of the coin. It could definitely double, but buying for investment purposes during a pump is a sure fire way to become a bagholder, regardless of the coin's technical merit.

The vast majority of alt coin volume during a pump is a complete fiction, and the market is comprised of three types: whale pumpers who control the coin, bandwagon traders trying to ride the pump, and the suckers who actually believe they're buying the next big thing. Only the first type is consistently profitable.

[darkota]

Since this is the Monero thread I need some of you to talk some sense in to me. After seeing Vericoin I can't come up with a good reason to hold XMR when VRC is looking better in every aspect I can think of. Surely I'm missing something here and I'd like to be set straight if possible.

Does Monero have a GUI wallet yet btw? If not, timeline?

Vericoin doesnt even have any anon features...its all just "fancy" whitepaper...not to mention its a 100% clone of blackcoin.

[aminorex]

Does Monero have a GUI wallet yet btw? If not, timeline?

There are 5 GUI wallets.  When one reaches a suitable level of development, it will win a bounty, and be annointed as the reference GUI wallet.  Last I heard, July 1 was the intended bounty date, but software is notorious for schedule delays, so I wouldn't count on it, even if my recollection is accurate.

VRC is a thin veneer of PR over a worthless copy of a scam coin.  This is typical of scams.  According to my estimation, the probability is that money put into VRC will be lost to you.  If you really want a GUI right now, I suggest BBR.  Also you would be buying it at a low, rather than a high.  They even have flying logo videos on youtube.

[btc-mike]

Keep in mind that the XMR emission rate is rapidly and constantly decreasing.  This makes it a better store of value.  The current high emission rate means that these coins are easier, cheaper to acquire than future coins will be.  The rapid decline means that you will realize these benefits quickly.

Once the emission rate starts to level off, will BTC be better again?

[Este Nuno]

Since this is the Monero thread I need some of you to talk some sense in to me. After seeing Vericoin I can't come up with a good reason to hold XMR when VRC is looking better in every aspect I can think of. Surely I'm missing something here and I'd like to be set straight if possible.

Does Monero have a GUI wallet yet btw? If not, timeline?

you must be joking right, vericoin is just the pump and dump of the moment, it offers nothing at long term, people going to vericoin now are like a moth to flame.

Since this is the Monero thread I need some of you to talk some sense in to me. After seeing Vericoin I can't come up with a good reason to hold XMR when VRC is looking better in every aspect I can think of. Surely I'm missing something here and I'd like to be set straight if possible.

Does Monero have a GUI wallet yet btw? If not, timeline?

you must be joking right, vericoin is just the pump and dump of the moment, it offers nothing at long term, people going to vericoin now are like a moth to flame.

Ok so Vericoin isn't anon then? It's not implemented in the coin? It's just a concept?

If Vericoin offers nothing long term, what does Monero offer long term? I like Monero I just want to make sure I'm on the right page here and find out what is true and what is not.

[darkota]

Since this is the Monero thread I need some of you to talk some sense in to me. After seeing Vericoin I can't come up with a good reason to hold XMR when VRC is looking better in every aspect I can think of. Surely I'm missing something here and I'd like to be set straight if possible.

Does Monero have a GUI wallet yet btw? If not, timeline?

you must be joking right, vericoin is just the pump and dump of the moment, it offers nothing at long term, people going to vericoin now are like a moth to flame.

Since this is the Monero thread I need some of you to talk some sense in to me. After seeing Vericoin I can't come up with a good reason to hold XMR when VRC is looking better in every aspect I can think of. Surely I'm missing something here and I'd like to be set straight if possible.

Does Monero have a GUI wallet yet btw? If not, timeline?

you must be joking right, vericoin is just the pump and dump of the moment, it offers nothing at long term, people going to vericoin now are like a moth to flame.

Ok so Vericoin isn't anon then? It's not implemented in the coin? It's just a concept?

If Vericoin offers nothing long term, what does Monero offer long term? I like Monero I just want to make sure I'm on the right page here and find out what is true and what is not.

Anon is not implemented in vericoin. It is "supposed" to use a coinjoin based anon feature, which is hardly anonymous as shown by the unraveling of sharecoin's(blockchain) coinjoin..and as said by gmaxwell, the maker of coinjoin. Coinjoin may be the worst "anonymous" feature you can have in a coin as you will always need two or more people to "mix" transactions, and even then it's fairly easy to find out the sender and reciever.

https://bitcointalk.org/index.php?topic=602041.0 <-----Vericoin's "anon feature" is not incorporated in its coin at this time. It's "anon feature" is also based off of Darkcoin's masternode/Darksend system as you can see. You should note that Darkcoin's masternode/darksend is closed source, and there has been many coins running to make a anonymous feature similar to Darkcoin's, such as Supercoins with it's Supernodes, XC with it's Xnodes, Vericoin with it's Veribit's and more.

Out of all the coins that use coinjoin for "anonymous" sending, Darkcoin's is the only one that has a decentralized and trustless system, XC's anonymous sending is trusted and you must rely on the fact that the Xnodes wont steal your coins, though they could. Supercoin's Supernodes are trusted as well and not even available atm(it's all just talk), and Vericoin's Veribit's are also trusted and not available atm(it's just all talk)

I really really suggest you do research Este Nuno, as you seem a bit clueless atm to be honest. 99% of those "anonymous" coins using coinjoin based Darkcoin anonymity are just pretending to do so so the dev's can make a quick buck, look at Libertycoin and HonorCoin for example, the devs ran off with a ton of Bitcoin after dumping it all on the exchange while they pretended to be making anonymous features for the coin,and worse. Vericoin, Supercoin, Pinkcoin, Orangecoin, Cloakcoin, Veilcoin, etc are all essentially copying/pretending to copy Darkcoin's masternodes/darksend in an attempt to make a quick buck off dull-witted buyers.

[aminorex]

Ok so Vericoin isn't anon then? It's not implemented in the coin? It's just a concept?

If Vericoin offers nothing long term, what does Monero offer long term? I like Monero I just want to make sure I'm on the right page here and find out what is true and what is not.

Vericoin offers a website to tumble your coins, aka coinjoin.  But it is not anonymity.  See  "Coinjoin Sudoku".

Monero provides a facility in the coin for using ring signatures to anonymize your transaction.  Cryptographic proofs exist which allow you to determine your exact degree of privacy protection, and you can dial it up or down.

The development work is sound and progressing.  Many desirable end-user features are not available today.  It could be said to be in stealth mode, but it's not, because coin dispersion is important to bootstrap an economy.  

XMR is one of the best managed coins I have seen.  I think the market for private transactions is enormous, so I advocate early investment to my friends and family.

I have a profoundly negative view of DRK.  Do read a bit.

[Este Nuno]

Since this is the Monero thread I need some of you to talk some sense in to me. After seeing Vericoin I can't come up with a good reason to hold XMR when VRC is looking better in every aspect I can think of. Surely I'm missing something here and I'd like to be set straight if possible.

Does Monero have a GUI wallet yet btw? If not, timeline?

you must be joking right, vericoin is just the pump and dump of the moment, it offers nothing at long term, people going to vericoin now are like a moth to flame.

Since this is the Monero thread I need some of you to talk some sense in to me. After seeing Vericoin I can't come up with a good reason to hold XMR when VRC is looking better in every aspect I can think of. Surely I'm missing something here and I'd like to be set straight if possible.

Does Monero have a GUI wallet yet btw? If not, timeline?

you must be joking right, vericoin is just the pump and dump of the moment, it offers nothing at long term, people going to vericoin now are like a moth to flame.

Ok so Vericoin isn't anon then? It's not implemented in the coin? It's just a concept?

If Vericoin offers nothing long term, what does Monero offer long term? I like Monero I just want to make sure I'm on the right page here and find out what is true and what is not.

Anon is not implemented in vericoin. It is "supposed" to use a coinjoin based anon feature, which is hardly anonymous as shown by the unraveling of sharecoin's(blockchain) coinjoin..and as said by gmaxwell, the maker of coinjoin. Coinjoin may be the worst "anonymous" feature you can have in a coin as you will always need two or more people to "mix" transactions, and even then it's fairly easy to find out the sender and reciever.

https://bitcointalk.org/index.php?topic=602041.0 <-----Vericoin's "anon feature" is not incorporated in its coin at this time. It's "anon feature" is also based off of Darkcoin's masternode/Darksend system as you can see. You should note that Darkcoin's masternode/darksend is closed source, and there has been many coins running to make a anonymous feature similar to Darkcoin's, such as Supercoins with it's Supernodes, XC with it's Xnodes, Vericoin with it's Veribit's and more.

Out of all the coins that use coinjoin for "anonymous" sending, Darkcoin's is the only one that has a decentralized and trustless system, XC's anonymous sending is trusted and you must rely on the fact that the Xnodes wont steal your coins, though they could. Supercoin's Supernodes are trusted as well and not even available atm(it's all just talk), and Vericoin's Veribit's are also trusted and not available atm(it's just all talk)

I really really suggest you do research Este Nuno, as you seem a bit clueless atm to be honest. 99% of those "anonymous" coins using coinjoin based Darkcoin anonymity are just pretending to do so so the dev's can make a quick buck, look at Libertycoin and HonorCoin for example, the devs ran off with a ton of Bitcoin after dumping it all on the exchange while they pretended to be making anonymous features for the coin,and worse. Vericoin, Supercoin, Pinkcoin, Orangecoin, Cloakcoin, Veilcoin, etc are all essentially copying/pretending to copy Darkcoin's masternodes/darksend in an attempt to make a quick buck off dull-witted buyers.

Vericoin was nothing to me until recently which is why I'm trying to find out what's true and what's not. My preliminary readings on Vericoin from Vericoin sources suggested that the coin was anon, so I came here to see what the truth was.