[XMR] Monero Speculation

[joebob999]

That being said it's going to take months for the crypto kingdom game to start effecting the market as its only at the phase where the XMR whales are buying CKG at the moment with their hoards.

At present the average buyin per character in the game is 180 XMR, and about 75% have spent from their existing stash.

When Version 4: Economy (2015-1-18) launches, the modest target is to have 1,000 players. (It has been online for 2 months already by then). The sales of ingame gold by then amount to 500,000 gold (about 130,000 XMR). In addition the characters may acquire other items perhaps worth 20 XMR per character (about 20,000 XMR). It will not yet be a great influence with these numbers, but:

a million = 1,000 * 1,000.  

are there going to be competitive aspects to this or is it going to be more like 2nd life?

[Febo]

That being said it's going to take months for the crypto kingdom game to start effecting the market as its only at the phase where the XMR whales are buying CKG at the moment with their hoards.

At present the average buyin per character in the game is 180 XMR, and about 75% have spent from their existing stash.

When Version 4: Economy (2015-1-18) launches, the modest target is to have 1,000 players. (It has been online for 2 months already by then). The sales of ingame gold by then amount to 500,000 gold (about 130,000 XMR). In addition the characters may acquire other items perhaps worth 20 XMR per character (about 20,000 XMR). It will not yet be a great influence with these numbers, but:

a million = 1,000 * 1,000.  

are there going to be competitive aspects to this or is it going to be more like 2nd life?

If it will be as second life, where you can make your own community inside the game will be just perfect.
Game is progressing really fast. It was announced only 2 weeks ago. And at least to me so hard to believe that planing did not start much before that. When i noticed thread,  did not even put much interest in it, since thought that nothing will happen for few next months. But i was so wrong. At first i also thought that things are really fast thrown together and will just not work, but after sleeping it over and reading again i realized how wrong i was.
Tomorrow there will be Rules of game Version 1.1 published, which at least i hardly wait.

[rpietila]

are there going to be competitive aspects to this or is it going to be more like 2nd life?

Characters are mortal (2-3 years real-time max, and may die young for variety of reasons).

When you are alive, and latest when you die, you get scored in many ways.

There is no one way to win the game, everyone can progress in whatever path they have chosen, or several of them.

It is possible to take part in challenging each other in games and tournaments, but eg. stealing and military conquest of other characters' lands is not possible.

The economic aspect of the game is very pronounced, with characters possible to possess huge fortunes in ingame items, including "gold" which pays dividends, collected from tax income.

[McHaggis]

Theoretically this could be a double bottom for both BTC and XMR at the same time.

[dnaleor]

Theoretically this could be a double bottom for both BTC and XMR at the same time.

Let's hope so...

[BootstrapCoinDev]

Theoretically this could be a double bottom for both BTC and XMR at the same time.

Let's hope so...

I wonder is there some relation to the Moolah bankruptcy and XMR tanking. A lot of people seem to have lost some XMR on the site due to "problems with the daemon" and it makes me think something funny is going on.

[smooth]

Theoretically this could be a double bottom for both BTC and XMR at the same time.

Let's hope so...

I wonder is there some relation to the Moolah bankruptcy and XMR tanking. A lot of people seem to have lost some XMR on the site due to "problems with the daemon" and it makes me think something funny is going on.

It was definitely alleged that stolen XMR from Moolah/Mintpal were being dumped. I don't have the link but someone posted that on twitter before all the details about the bankruptcy came out.

[dEBRUYNE]

Theoretically this could be a double bottom for both BTC and XMR at the same time.

Let's hope so...

I wonder is there some relation to the Moolah bankruptcy and XMR tanking. A lot of people seem to have lost some XMR on the site due to "problems with the daemon" and it makes me think something funny is going on.

It was definitely alleged that stolen XMR from Moolah/Mintpal were being dumped. I don't have the link but someone posted that on twitter before all the details about the bankruptcy came out.

Missing link: https://twitter.com/omnik/status/522165410096234496

[aminorex]

Theoretically this could be a double bottom for both BTC and XMR at the same time.

Let's hope so...

I wonder is there some relation to the Moolah bankruptcy and XMR tanking. A lot of people seem to have lost some XMR on the site due to "problems with the daemon" and it makes me think something funny is going on.

It was definitely alleged that stolen XMR from Moolah/Mintpal were being dumped. I don't have the link but someone posted that on twitter before all the details about the bankruptcy came out.

Missing link: https://twitter.com/omnik/status/522165410096234496

Extremely bullish, if true.  No provenance, however.

[TrueCryptonaire]

Theoretically this could be a double bottom for both BTC and XMR at the same time.

Let's hope so...

I wonder is there some relation to the Moolah bankruptcy and XMR tanking. A lot of people seem to have lost some XMR on the site due to "problems with the daemon" and it makes me think something funny is going on.

It was definitely alleged that stolen XMR from Moolah/Mintpal were being dumped. I don't have the link but someone posted that on twitter before all the details about the bankruptcy came out.

Missing link: https://twitter.com/omnik/status/522165410096234496

Extremely bullish, if true.  No provenance, however.

I have been extremely blessed to be able to be under Monero rain recently.
Even today I got all my buy orders filled the lowest being at 0.00195.
I am planning to reset some buy-orders in case the dumpsters want to continue dumping onto me.  


And my hands are strong.

[dEBRUYNE]

Theoretically this could be a double bottom for both BTC and XMR at the same time.

Let's hope so...

I wonder is there some relation to the Moolah bankruptcy and XMR tanking. A lot of people seem to have lost some XMR on the site due to "problems with the daemon" and it makes me think something funny is going on.

It was definitely alleged that stolen XMR from Moolah/Mintpal were being dumped. I don't have the link but someone posted that on twitter before all the details about the bankruptcy came out.

Missing link: https://twitter.com/omnik/status/522165410096234496

Extremely bullish, if true.  No provenance, however.

I have been extremely blessed to be able to be under Monero rain recently.
Even today I got all my buy orders filled the lowest being at 0.00195.
I am planning to reset some buy-orders in case the dumpsters want to continue dumping onto me.  


And my hands are strong.

I wish I was as lucky as you, but unfortunately I am already maxed out (I still got some btc though, but I won't feel comfortable investing more). I think price will recover sooner or later, XMR has some great things in foresight and actually brings something new to the table. I also saw it as an investment and I am not a trader. Handling such volatility is an aspect of altcoins aswell. When choosing an altcoin that actually could deliver something nice, it might be rewarded great. Would be stupid for me to panic sell now and panic buyback later, that would only bring down my amount of XMR.

[dnaleor]

yeah... I'm in the same situation, debruyne...

I am still buying little amounts, but that also will soon end.

I made a promise to myself to keep at least 70% of my current holdings until we are at 0.01 BTC/XMR. The other 30 i'll sell on the way up

[Febo]

Theoretically this could be a double bottom for both BTC and XMR at the same time.

Let's hope so...

I wonder is there some relation to the Moolah bankruptcy and XMR tanking. A lot of people seem to have lost some XMR on the site due to "problems with the daemon" and it makes me think something funny is going on.

It was definitely alleged that stolen XMR from Moolah/Mintpal were being dumped. I don't have the link but someone posted that on twitter before all the details about the bankruptcy came out.

Missing link: https://twitter.com/omnik/status/522165410096234496

When that was out there was actually an 60 btc dump on Poloniex. But no one can say for sure if those was really the Moneros from Mintpal. Only way to know is to see if owner will get them back or not. Those Moneros on Mintpal are not something catastrophic for Monero, but even only the news that Mintpal Moneros are getting dumped added a bit more negativism to the current not so bright situation of cryptocurencies.

[rdnkjdi]

One bright side I see to the XMR price slide for 400 to 200 is that if this lasts for a year it might be a great talking point when the coin is accused of an instamine.

Understanding that early adopters actually lost a lot to mid term adopters due to high inflation might help with the coin release schedule PR issue in a few years if Cryptonote is still around.

What I'd give for a coin that just released a set number of coins per year period, had free transaction fees, and a constantly improving feature set that included anonymity.   I feel like hoping the price goes up and being involved early makes me a participant in a ponzi scheme ... even with bitcoin due to the release schedule.

A set number of coins a year would drive price and scarcity based on adoption and investment in exactly the same way mining does.  Vs shrinking supply

[sgm3lvin]

Just invested some.  With strong support here, im relieved this aint like those churn n burn alts.

[TrueCryptonaire]

My suggestion on making Monero a large marketcap

1) Cut the emission (giving much more life time for the coin - also this enables lower transaction costs since the inflation can make mining profitable also in the future which increases people's propensity to do transactions which leads more anonymous network). When cutting emission, it should be done in two ways: making Monero slower but more anonymous (increasing block time which enables more transactions per block and thus higher anonymity) and cutting the block reward. For example, block-time could be similar to LTC (around 3 mins) and block reward 3-4 xmr/block.

2) Non-crypto adoption. Non-crypto adotion helps not only Monero but also bitcoin since in order to buy Moneros one should buy bitcoins first. For example, Risto mentioned his network consists of people whose networth is hundreds of millions of euros - once they start investing into Monero big time and inflation is low, it means the coin value will go to skyhigh. Also bitcoin gets support since bitcoins must be purchased before executing the trades into Monero.

3) Building up local Monero type service network

4) Building ventures such as Risto's game that sucks Moneros from the markets into long-term bags

The bottom line: we as a community need to start making services (and money) which puts moneros into people's hands and sucks Moneros to long-term bags.

[rangedriver]

I bought 14BTC worth of XMR at 0.0035, so right now I'm about 6 or 7 BTC down.

Still holding.

I've got about 30 BTC elsewhere which I'm using for BTC/USD trades, but now I'm thinking should I use all or some of those funds to double up on XMR sub 0.002 and soften the losses already made?

Or is that patently a recipe for disaster...

[dEBRUYNE]

I bought 14BTC worth of XMR at 0.0035, so right now I'm about 6 or 7 BTC down.

Still holding.

I've got about 30 BTC elsewhere which I'm using for BTC/USD trades, but now I'm thinking should I use all or some of those funds to double up on XMR sub 0.002 and soften the losses already made?

Or is that patently a recipe for disaster...

I don't know how much % of your crypto portfolio is that 30+14 btc. But sometimes it's better to be more underwater on a smaller position and feel comfortable with it than be less underwater but have a uncomfortable % of your portfolio invested. Aside from that, I think this is a very good entry point. Similair like you, I've invested when the price was much higher, 0.0035 was back then a solid entry point..

[pinky]

pretty quiet here  
any guesses for a bottom?

I am guessing around 0.0005-0.001.

[Quicken]

pretty quiet here 
any guesses for a bottom?

0.0015 + a bit.