[XMR] Monero Speculation

[equipoise]

Nice to see XMR finally taking off !!!

Yup - nice and steady at 50 cents and holding up better than many other alts.

If you think holding up is losing 50% of its value against btc , which lets face it, is how most people bought into XMR and how most people will likely cash out then I'm confused.

imo holding a $ value is scant compensation while missing out on double gains. (inb4 everyone says that double gains is nothing when XMR is going to do 100x)

Sure it's an oppurtunity to buy more cheap but if there's anything this btc rally has shown is that alts in general are starting to become less and less relevant.

There are so few people now holding XMR and in particular the ones holding the very large bags that aren't underwater right now.

Be careful. I don't think this BTC rally is just over yet, but I may be wrong. In USD terms the current XMR price is +25+% compared to the waited average last 30 days and it's more then the waited USD average last year (~0.5$). My XMR buying experience is like buying with cash - I make a BGL (Bulgarian lev) BTC order, then I have 30 minutes to pay it with cash at 2300+ places in Bulgaria (no ID needed when buying, but it's needed if you sell for BGL). When I pay it the btc is sent to my poloniex account immediately and my bot start placing XMR orders. Last year my buying decisions were made mainly regarding the XMR/BGL price, not the XMR/BTC price and I think many are doing the same. If the BTC rally continues I think we are still going down a bit in BTC terms, but at some point there will be a reversal and it could be quite fast. The reversal of the XMR/BTC trend will take place at some point no matter if the BTC is still going up, but it'll be sooner if BTC drops or stays the same.

[vuduchyld]

I want some more Monero but dreading stepping through BTC to get there

Nods head slowly

[dEBRUYNE]

Guys don't try to look for any divine reason for the market actions. I'm telling you what's happening and what's going to happen so let the pro speculators work, sit and wait.

I'm telling you, most of big XMR short whales are closing positions and most of them will be long in a couple of weeks.

SO DON'T WORRY, THE BIG DUMP IS OVER (on XMR)  

(We can get a bit lower, but nothing to worry about)

I have to admit it, even though BTC went up significantly, you made a pretty good call. I hope your new prediction also materializes.

[medusa13]

everyone is moving together in this, what a day again, massive volatility everywhere. xmr was kind of stable compared.
if btc drops, all are moving into altcoins, eth was down like 40% and now had a huge pull back.

maybe this can go on for some time, but then the point will come where this kind of counter action triggers a bull run in altcoins. btc may rise further after the drop, but people wont stop buying altcoins.

[canth]

Possibly relevant to XMR speculation. Zerocoin seems to be moving forward - they at least have an angel page with investors from a previous round.

https://bitcointalk.org/index.php?topic=362468.msg12884424#msg12884424

[kazuki49]

[dEBRUYNE]

Possibly relevant to XMR speculation. Zerocoin seems to be moving forward - they at least have an angel page with investors from a previous round.

https://bitcointalk.org/index.php?topic=362468.msg12884424#msg12884424

List of possible pitfalls wrt ZeroCash/ZeroCoin:

-If ZeroCash/ZeroCoin is launched on behalf of a company, which seems the case here, the company can be given a gag order (e.g. to add a line of malicious code).
-If I recall correctly, the creator of the genesis block holds some kind of masterkey. As a result, you have to trust this person. Even if this key was held by a group, you still have to trust that particular group. In addition, you have to trust the program they run to create the Genesis block (the masterkey could be in there).
-It's too opaque in my opinion. If a bug existed that would create additional coins, there is no way you would see it.
-The math and cryptography backing it isn't peer reviewed yet and in an infancy stage.

That said, I am still interested in the progress and I also think it would be a good bet to hedge yourself a bit. One last remark, the last time they said they would release something within the next 3-6 months, they completely missed the deadline -> https://twitter.com/secparam/status/468784402558771200 (20 May 2014)

FWIW: The 2nd "scarewall" got bought as well, asks down to 282k. I hope we are able to stay above 100k sat.

EDIT:

[infofront]

...
-If I recall correctly, the creator of the genesis block holds some kind of masterkey. As a result, you have to trust this person. Even if this key was held by a group, you still have to trust that particular group. In addition, you have to trust the program they run to create the Genesis block (the masterkey could be in there).
...

This. The centralization of security makes it possibly even worse than Dash.

[canth]

...
-If I recall correctly, the creator of the genesis block holds some kind of masterkey. As a result, you have to trust this person. Even if this key was held by a group, you still have to trust that particular group. In addition, you have to trust the program they run to create the Genesis block (the masterkey could be in there).
...

This. The centralization of security makes it possibly even worse than Dash.

Well, in theory there is supposed to be a genesis creation event where the keys are generated and held by a dozen well known entities. The process is observed by people physically present and online via live video where the genesis block is created and all the keys are destroyed. Even if some of the keyholders are dishonest and somehow manage to make and keep a copy of their key it is useless without all of the other keys. As long as one person is honest or incapable of keeping a copy then the key is destroyed forever and the event never needs to be recreated.

With all that said, I'm rather dubious of the ability to pull it off and the trust that would need to be imbued by new participants as the currency gains more use. The point is that it is possible to setup in a manner where future trust isn't necessary, at least theoretically.

[dEBRUYNE]

...
-If I recall correctly, the creator of the genesis block holds some kind of masterkey. As a result, you have to trust this person. Even if this key was held by a group, you still have to trust that particular group. In addition, you have to trust the program they run to create the Genesis block (the masterkey could be in there).
...

This. The centralization of security makes it possibly even worse than Dash.

Well, in theory there is supposed to be a genesis creation event where the keys are generated and held by a dozen well known entities. The process is observed by people physically present and online via live video where the genesis block is created and all the keys are destroyed. Even if some of the keyholders are dishonest and somehow manage to make and keep a copy of their key it is useless without all of the other keys. As long as one person is honest or incapable of keeping a copy then the key is destroyed forever and the event never needs to be recreated.

With all that said, I'm rather dubious of the ability to pull it off and the trust that would need to be imbued by new participants as the currency gains more use. The point is that it is possible to setup in a manner where future trust isn't necessary, at least theoretically.

Wasn't the whole purpose of cryptocurrencies to build decentralized trustless systems? ZeroCash basically defeats that purpose with this release strategy.

[owm123]

Possibly relevant to XMR speculation. Zerocoin seems to be moving forward - they at least have an angel page with investors from a previous round.

https://bitcointalk.org/index.php?topic=362468.msg12884424#msg12884424

It is supposed to be created by a commercial company Zerocoin Electric Coin Company
http://www.bizapedia.com/de/THE-ZEROCOIN-ELECTRIC-COIN-COMPANY-LLC.html .

Since this is a USA company, NSA back doors and surveillance can be present. ANd why would it be made by a company? Why bitcoin ppl or just regular volunteers do it, like bitcoin was done?

[ArticMine]

Possibly relevant to XMR speculation. Zerocoin seems to be moving forward - they at least have an angel page with investors from a previous round.

https://bitcointalk.org/index.php?topic=362468.msg12884424#msg12884424

It is supposed to be created by a commercial company Zerocoin Electric Coin Company
http://www.bizapedia.com/de/THE-ZEROCOIN-ELECTRIC-COIN-COMPANY-LLC.html .

Since this is a USA company, NSA back doors and surveillance can be present. ANd why would it be made by a company? Why bitcoin ppl or just regular volunteers do it, like bitcoin was done?

Well if they try to monetize the emission in any way they will become an MSB and be subject to FinCEN regulation. This was the case with Ripple. FLOSS, a clean POW emission, combined with donations (money or in kind) to fund development as is the case with Monero avoids this regulatory risk.

[iCEBREAKER]

Today, Monero Mountain is a big green island oasis floating in a sea of angry red numbers!

Pro tip: you can short the hell out of DASH using the increased leverage provided by higher XMR prices!   

[RealBitcoin]

I`m not sure if the dump in XMR is over yet. It can be just a short term retracement.

I might buy some more when it stabilizes itself, i dont want to get caught in a whipsaw.

[americanpegasus]

It is supposed to be created by a commercial company Zerocoin Electric Coin Company
http://www.bizapedia.com/de/THE-ZEROCOIN-ELECTRIC-COIN-COMPANY-LLC.html .

Since this is a USA company, NSA back doors and surveillance can be present. ANd why would it be made by a company? Why bitcoin ppl or just regular volunteers do it, like bitcoin was done?

 
  
The final nail in the coffin for zerocoin and the trumpet sounding the inevitable rise of Cryptonote coins IMHO.  I would not trust any zerocoin/zerocash protocol instanced by an entity in a country where backdoors are mandated in software and projects.  Sorry, still a proud patriot, but I do not love the surveillance state that has errupted in the past decades - it is an affront to the principals we founded ourselves on, and I say that as a law-abiding citizen with nothing to hide.

[kazuki49]

It is supposed to be created by a commercial company Zerocoin Electric Coin Company
http://www.bizapedia.com/de/THE-ZEROCOIN-ELECTRIC-COIN-COMPANY-LLC.html .

Since this is a USA company, NSA back doors and surveillance can be present. ANd why would it be made by a company? Why bitcoin ppl or just regular volunteers do it, like bitcoin was done?

 
  
The final nail in the coffin for zerocoin and the trumpet sounding the inevitable rise of Cryptonote coins IMHO.  I would not trust any zerocoin/zerocash protocol instanced by an entity in a country where backdoors are mandated in software and projects.  Sorry, still a proud patriot, but I do not love the surveillance state that has errupted in the past decades - it is an affront to the principals we founded ourselves on, and I say that as a law-abiding citizen with nothing to hide.

This.

Some relevant reading: https://igurublog.wordpress.com/2014/04/08/julian-assange-debian-is-owned-by-the-nsa/

Also debian is planning to fully adopt systemd, that some argue is a giant potential backdoor (besides a clusterfuck) for the NSA/USG circumvent the Linux kernel.

Reason why I'll be moving to Slackware or BSD soon.

[onemorexmr]

It is supposed to be created by a commercial company Zerocoin Electric Coin Company
http://www.bizapedia.com/de/THE-ZEROCOIN-ELECTRIC-COIN-COMPANY-LLC.html .

Since this is a USA company, NSA back doors and surveillance can be present. ANd why would it be made by a company? Why bitcoin ppl or just regular volunteers do it, like bitcoin was done?

 
  
The final nail in the coffin for zerocoin and the trumpet sounding the inevitable rise of Cryptonote coins IMHO.  I would not trust any zerocoin/zerocash protocol instanced by an entity in a country where backdoors are mandated in software and projects.  Sorry, still a proud patriot, but I do not love the surveillance state that has errupted in the past decades - it is an affront to the principals we founded ourselves on, and I say that as a law-abiding citizen with nothing to hide.

This.

Some relevant reading: https://igurublog.wordpress.com/2014/04/08/julian-assange-debian-is-owned-by-the-nsa/

Also debian is planning to fully adopt systemd, that some argue is a giant potential backdoor (besides a clusterfuck) for the NSA/USG circumvent the Linux kernel.

Reason why I'll be moving to Slackware or BSD soon.

IMHO the next step (or already done) for NSA/USG is BIOS Backdoors in various devices. i dont think systemd is affected (i like it so i may be biased).

i am in the process of installing gentoo right now... together with qubes my two favorit distributions. (gentoo uses openRC by default; qubes is Fedora based)

[americanpegasus]

In support of the upcoming Star Wars movie, Carrie Fisher just tweeted: "Oh Luke, don’t ask for the moon, we have the force" (https://twitter.com/carrieffisher/status/661951797347622912) 
 
I don't think she realizes she just accidentally spawned the greatest Monero tag-line I've ever heard. 
 

[americanpegasus]

I'm not gonna lie guys; ever since I got loudly and publicly involved in cryptocurrency a year ago, there's been no end to the digital fuckery I have experienced and suspected on my personal machines.  
  
I have a Windows laptop for internet browsing and games (no cryptocurrency activity on this machine), and even after a fresh install, within weeks it will inexplicably begin to stutter and pause before saving any file.  I run pretty solid Malware Bytes scans, MSE instances and a Firefox browser with ad-block and Noscript; I'm not a wizard, but I'm not a dummy.  There is no reason why a top-of-the-line computer that was reformatted a month ago should be stuttering randomly and lagging when doing things as simple as saving a picture off the internet.  
  
As well, my cell phone began about November of last year to pause randomly to lose (possibly hijack) the internet connection.  It shows pinging or 'upload' status in the network icon during these moments.  Attempts to use downloaded apps to figure out what IP addresses it's connecting to during these times have only resulted in gibberish or proxies.  This behavior persists no matter how many times I 'reformat' my phone.  
  
This is kind of shit is increasingly pissing me off - I have come to accept that if I become prominent in crypto I will likely end up getting monitored pretty hard despite being open and honest about my actions, but whatever backdoor nonsense is happening is actually affecting the performance of my computer which is ridiculous.  Perhaps I'm being paranoid, but also perhaps not.  
  
If you are reading this, your shit is weak and gives off tell tale signs of a system being compromised - get it together.
  
 

[GingerAle]

Or ure memory is on the fritz. Dload any Linux distro and run the mem test on the liVe boot. Also micro sd cards are notorious for screwing up phones, that's why some phones don't ven offer a sd slot.

But remember. Just because your paranoid don't mean they're not after you.

Gotta find a way a better way to get away