[XMR] Monero Speculation

[saddambitcoin]

Monero has lost 2 positions in the coinmarketcap in favor of cannabiscoin and nubits.

Something is wrong here

When they announced that they will peg CANN to a gram of cannibis ofc the price will rocket.

What would happen if "someone" announces that 1 XMR can be traded for 1 once of silver?

seriously I do not know what the F*** is wrong with this market - I am not in the cannabis business but how much does one gram cost 8$-12$?

this stuff is traded at 5 cents, with 90 Million Coins - I want to see the vendor who sells 90 million grams for 5 Million$.

This stuff simply does not make any sense at all.

Regarding xmr price - this is the price I expected to be around the buttom (in btc terms) in boring times of xmr - there will be less boring times ...

retail price of a gram of cannabis is more like $14-17 i think. who buys just a gram anyway?

[GBattaglia]

Monero has lost 2 positions in the coinmarketcap in favor of cannabiscoin and nubits.

Something is wrong here

When they announced that they will peg CANN to a gram of cannibis ofc the price will rocket.

What would happen if "someone" announces that 1 XMR can be traded for 1 once of silver?

seriously I do not know what the F*** is wrong with this market - I am not in the cannabis business but how much does one gram cost 8$-12$?

this stuff is traded at 5 cents, with 90 Million Coins - I want to see the vendor who sells 90 million grams for 5 Million$.

This stuff simply does not make any sense at all.

Regarding xmr price - this is the price I expected to be around the buttom (in btc terms) in boring times of xmr - there will be less boring times ...

It can only be purchased in Arizona, and you have to have a medical card for it. Only about 35,000 or so people in Arizona have this card, or at least so I have heard.
Those with the card are limited to just a few ounces being purchased every two weeks. That means that with enough funding, they could very easily fulfill their promise.

[NewLiberty]

Monero has lost 2 positions in the coinmarketcap in favor of cannabiscoin and nubits.

Something is wrong here

When they announced that they will peg CANN to a gram of cannibis ofc the price will rocket.

What would happen if "someone" announces that 1 XMR can be traded for 1 once of silver?

seriously I do not know what the F*** is wrong with this market - I am not in the cannabis business but how much does one gram cost 8$-12$?

this stuff is traded at 5 cents, with 90 Million Coins - I want to see the vendor who sells 90 million grams for 5 Million$.

This stuff simply does not make any sense at all.

Regarding xmr price - this is the price I expected to be around the buttom (in btc terms) in boring times of xmr - there will be less boring times ...

It can only be purchased in Arizona, and you have to have a medical card for it. Only about 35,000 or so people in Arizona have this card, or at least so I have heard.
Those with the card are limited to just a few ounces being purchased every two weeks. That means that with enough funding, they could very easily fulfill their promise.

Laws regarding this have changed over the last couple years.
There are many US states where MJ can be bought with an ID.
I think more than half US citizens are in one of these states now.

http://norml.org/states

[UnicornFarts]

Monero has lost 2 positions in the coinmarketcap in favor of cannabiscoin and nubits.

Something is wrong here

When they announced that they will peg CANN to a gram of cannibis ofc the price will rocket.

What would happen if "someone" announces that 1 XMR can be traded for 1 once of silver?

seriously I do not know what the F*** is wrong with this market - I am not in the cannabis business but how much does one gram cost 8$-12$?

this stuff is traded at 5 cents, with 90 Million Coins - I want to see the vendor who sells 90 million grams for 5 Million$.

This stuff simply does not make any sense at all.

Regarding xmr price - this is the price I expected to be around the buttom (in btc terms) in boring times of xmr - there will be less boring times ...

It can only be purchased in Arizona, and you have to have a medical card for it. Only about 35,000 or so people in Arizona have this card, or at least so I have heard.
Those with the card are limited to just a few ounces being purchased every two weeks. That means that with enough funding, they could very easily fulfill their promise.

Laws regarding this have changed over the last couple years.
There are many US states where MJ can be bought with an ID.
I think more than half US citizens are in one of these states now.

http://norml.org/states

yeah it's fully legal in Colorado (out of state DL with no medical prescription.  Limited to buying 1 oz at a time).  Legal in Washington & Alaska with some caviots (less restrictive than needing a medical prescription)

[nutildah]

Just wondering, are they fluoridating your water? 

No, that's why I am so clear-headed compared to the average goons you try to mentally pickpocket on a daily basis.

[nutildah]

When they announced that they will peg CANN to a gram of cannibis ofc the price will rocket.

I realize this is the wrong thread to be bringing this up but its stupid to tie 1 coin to 1 gram of MJ when the quality varies so tremendously. Are we getting 1 g of Sour Diesel/Trainwreck or 1 g of Shake?

What would happen if "someone" announces that 1 XMR can be traded for 1 once of silver?

Then you take all the silver that idiot is giving away, even if you have to push the price of monero up to $1.50. 1 gram of silver would be a much more appropriate unit.

[rpietila]

retail price of a gram of cannabis is more like $14-17 i think. who buys just a gram anyway?

I heard (castle owners hear all things...) that in Tallinn it is EUR 15-20 and sold in sealed packets of a gram each. One gram lasts for a long time, vaporized.

[600watt]

retail price of a gram of cannabis is more like $14-17 i think. who buys just a gram anyway?

I heard (castle owners hear all things...) that in Tallinn it is EUR 15-20 and sold in sealed packets of a gram each. One gram lasts for a long time, vaporized.

i will go online with a head & grow shop in a few months. will accept btc, but could also add xmr for teh cause 

there will be plenty of vaporizers!

[iCEBREAKER]

Monero has lost 2 positions in the coinmarketcap in favor of cannabiscoin and nubits.

Something is wrong here

When they announced that they will peg CANN to a gram of cannibis ofc the price will rocket.

What would happen if "someone" announces that 1 XMR can be traded for 1 once of silver?

These commodity pegged coins won't work they way they are being implemented.

The CANN fad will be over as soon as some smart ass buys 10k coins and demands to redeem them for 10 kilos of ganja.

Likewise, if "someone" offered to trade XMR for Ag at 1:1, he would quickly run out of silver.

Remember the URO:urea scamcoin from a few months ago?  No?  Me neither!   

[aminorex]

retail price of a gram of cannabis is more like $14-17 i think. who buys just a gram anyway?

I heard (castle owners hear all things...) that in Tallinn it is EUR 15-20 and sold in sealed packets of a gram each. One gram lasts for a long time, vaporized.

i will go online with a head & grow shop in a few months. will accept btc, but could also add xmr for teh cause 

there will be plenty of vaporizers!

i consume cannabis less than negligibly, but if you price in xmr and ship to new york, i know what my partaking friends will be vgetting for christmas.

[dnaleor]

Monero has lost 2 positions in the coinmarketcap in favor of cannabiscoin and nubits.

Something is wrong here

When they announced that they will peg CANN to a gram of cannibis ofc the price will rocket.

What would happen if "someone" announces that 1 XMR can be traded for 1 once of silver?

These commodity pegged coins won't work they way they are being implemented.

The CANN fad will be over as soon as some smart ass buys 10k coins and demands to redeem them for 10 kilos of ganja.

Likewise, if "someone" offered to trade XMR for Ag at 1:1, he would quickly run out of silver.

Remember the URO:urea scamcoin from a few months ago?  No?  Me neither!   

correction: URO is a shitcoin...
(literally backed by shit )

[e-coinomist]

These commodity pegged coins won't work they way they are being implemented.

The CANN fad will be over as soon as some smart ass buys 10k coins and demands to redeem them for 10 kilos of ganja.

Agricultures? Regrowing resource ... like producing potatoes.

In a way, Bitcoin is "pegged" to the hashrate. You can buy 1 Terahash for somewhat 1.x BTC. Just that is, as we know now, like burning money. Will drop in value 20% every some weeks, as seen.

[Jojatekok]

The markets are too calm, just like before a storm...

[Jungian]

The markets are too calm, just like before a storm...

I find it unlikely that this price stays for a very long time.
Either the GUI wallet sets off a new uptrend or a lot of speculators tire and look for the next thing.

XMR seems to have more holders than most altcoins though. I don't have any data to back this up, but it's the general feel I have when comparint to other alt I've speculated in or follow out of interrest.

[smooth]

The markets are too calm, just like before a storm...

I find it unlikely that this price stays for a very long time.
Either the GUI wallet sets off a new uptrend or a lot of speculators tire and look for the next thing.

XMR seems to have more holders than most altcoins though. I don't have any data to back this up, but it's the general feel I have when comparint to other alt I've speculated in or follow out of interrest.

It's still a top-15 coin on coinmarketcap (currently #14). The ranking hasn't changed much and has been in the 10-15 range for months. So it isn't surprising it would have a lot more holders (and everything else) than most altcoins since it is roughly in the top 1% of the entire universe of coins.

[binaryFate]

At this point I think we've reached a situation where the current daily buyers are almost entirely people who are already significantly into monero.
It looks like the community is working in a closed circle.



(note that the X axis is not "0" but "-2"!)


We have the exact same number of people on the subreddit as 2 weeks ago. Of course it's only reddit, but let's be honest, other channels are not contradicting the numbers shown here.

We need something tangible. Something visible. Something to attract people outside the community.
It doesn't mean to work harder of faster, it only means when to release stuff half-publicly: for instance it doesn't mean a fully polished GUI, but just a beta-version that can send and receive. If the english or the translation is crap, or some features are not fully working, who cares as long as they are not critical in any way and the software is clearly advertised as beta? (or even alpha).
I'm sure many outcomes of the core team are at this possible "not-perfect-but-lets-release-as-beta" stage already, postponing their visibility to the larger public is, at this point, directly impacting our momentum.
We've shift from positive momentum to neutral or even slithgly negative one. I'm not talking about price here, this should be visible on many indicators I don't have access to (download of the wallet, view on the website, ...). Positive momentum is the hardest thing to get back once you lose it.

I urge the core team to release something visible to the average Joe, because at this point the only (virtual) sight of advancement are the missives, and their impact must be by now pretty much limited to the existing community.
People need something to chew on.

Contrary to June, at this point, releasing a GUI with a blockchain that takes 3GB in RAM is better than not releasing anything. In my opinion the technicities/limitabilities are not a reason to retain any of the software achievements. (now, again my opinion was different in June when the community growth was not negative).

[smooth]

I agree with you binaryFate. The last missives said there should be a new revision of the in-progress client within 1-2 weeks (from last Monday).

2. The GUI, too, is progressing at a slightly reduced pace. We hope to update the preview binaries in the next week or two.

I'm not sure the GUI is really enough though. It will give a one-time bump in interest once it reaches a minimally usable stage, but beyond that more needs to happen to increase the size of the user base. Some of those things are external. For example, right now my feeling is that the entire cryptocurrency phenomenon is also in a similar place (in terms of user base being stagnant and not really reaching new markets at all).

[rpietila]

At least Crypto Kingdom is growing:

- Number of characters is 14, which is 6 days ahead of target
- 67% of gold (6.7% of total ancient gold) is already sold
- Gold price was able to be lifted back to original intention of 0.100 XMR (was initially 0.050 for a time).

[rdnkjdi]

I agree with you binaryFate. The last missives said there should be a new revision of the in-progress client within 1-2 weeks (from last Monday).

2. The GUI, too, is progressing at a slightly reduced pace. We hope to update the preview binaries in the next week or two.

I'm not sure the GUI is really enough though. It will give a one-time bump in interest once it reaches a minimally usable stage, but beyond that more needs to happen to increase the size of the user base. Some of those things are external. For example, right now my feeling is that the entire cryptocurrency phenomenon is also in a similar place (in terms of user base being stagnant and not really reaching new markets at all).

Exactly.   Look ... assume a gui will take ALL the users from bbr.  That's 500k worth of growth.  Since bbr already has a userbase and it's own market it's nieve to think the gui is worth more in growth than all of bbr.

I'm not sure there is much that can be done to the coin that will increase growth.  People who are interested in Monero as an anon crypto are bought in already.

Making the mining algo less friendly to bonnets and more friendly to everyday pc users might help if it could be integrated with real life uses for small amounts.

. I leave my computer mining at the office for a week and I can bet on poker, fantasy football, play rpettlias game, bet on winning Civ 4 tournaments, etc might grow the userbase.

The key being get more of the pie to miners who are mining to use it rather than professional miners or bonnet farmers

Otherwise it will be external factors Imo

. Pulling in the darkmarkets.

. Increased government regulation and focus on crypto that drives a boom in anon.

. Greater bit coin adoption.

I believe in the future crypto currency will be adopted due to external factors.  Monero just needs to make sure it's the defacto choice of anonymous currency and if/when this happens.  The leader in anon will be adopted.  But it is impossible to change external factors from inside the Monero ecosystem.

Rpetilia have you thought about bundling a miner into your game that mines gold straight to a user's account?

[Come-In-Behind]

I agree with you binaryFate. The last missives said there should be a new revision of the in-progress client within 1-2 weeks (from last Monday).

2. The GUI, too, is progressing at a slightly reduced pace. We hope to update the preview binaries in the next week or two.

I'm not sure the GUI is really enough though. It will give a one-time bump in interest once it reaches a minimally usable stage, but beyond that more needs to happen to increase the size of the user base. Some of those things are external. For example, right now my feeling is that the entire cryptocurrency phenomenon is also in a similar place (in terms of user base being stagnant and not really reaching new markets at all).

1) Become accepted in illegal(frowned upon, but pretty much necessary at the beginning) darknet markets, along with other (legal) websites i.e casinos, lotteries, which is what also happened to Bitcoin in it's beginnings.

2) Gain exposure & followers, based upon marketing the currency towards groups most likely to use it(Private institutions/companies, individuals seeking privacy, websites, etc)

3) Acceptance as a reliable, decentralized, private, way of transfering wealth.

4) Continue from there

I believe Monero could improve upon not just anonymity, but security, ways to make holding the coins on your computer relatively safe, even when faced with threats such as hacking and the like. I believe that lack of security is what stops many, many people from using cryptocurrencies(Bitcoin). If Monero could penetrate that area in terms of security, then it may even be more favorable to use than Bitcoin.