[XMR] Monero Speculation

[Hueristic]

All alts except monero green on polo...  Dash up 20% in the last 48h.
Perfect time to push the price up 10-20%...

Pumpers not welcomed here.

I agree. Monero is probably the only coin in the universe which is not meant to be a mere pump and dump coin. All the other coins are just pump and dump schemes while this is the only honest coin.

You must be holding.

[digicoin]

He is trolling lol

[LucyLovesCrypto]

He is trolling lol

TrueCryptonaire actually is one of my favorite Monero trolls. Transparent, yes but he is still funny at times.

It is fun to look at his history and record the dates that marked his change from bull to bear and vise versa (pattern repeats several times).

[wpalczynski]

The I2P/IP integration would be champ.  It would be great if it defaulted to I2P if available.

[smooth]

The I2P/IP integration would be champ.  It would be great if it defaulted to I2P if available.

The plan is that your outgoing transactions will always default to I2P. Relay of public information from the network will use both I2P and regular clearnet by default, but full I2P-only can be configured (with the risks described in the podcast).

[ArticMine]

The I2P/IP integration would be champ.  It would be great if it defaulted to I2P if available.

According to the missive it will default to I2P for sending transactions. There are certain attacks that work best over I2P or TOR so by default it will also synchronize over the clear IP network. The Monero node would by default act as an I2P / IP bridge for Monero traffic only. It may be worth listening to the missive more than one time to get a clearer understanding of some of these issues. http://podbay.fm/show/1032156854/e/1451151298?autostart=1

[jehst]

Stability in terms of USD has been good, but I think we are in the eye of the hurricane. We should experience chaotic volatility as XMR finds its true place in history.

[TrueCryptonaire]

Stability in terms of USD has been good, but I think we are in the eye of the hurricane. We should experience chaotic volatility as XMR finds its true place in history.

I listened to the podcast from getmonero (the recent one).
Someone of the core team told there Monero is not meant to increase in value but solely for transactional purposes (he did not use that exact wording but the idea was basically this).
Therefore, it is not recommended to invest any larger amounts of money into Monero but rather create services and Monero economy. It would indeed great to have tons of new places where bagholders could unload their trash bins to the dumpster and from dumpster to the landfill.

[jehst]

Yes, fluffypony says that investing in cryptocurrencies to get a return is not a good idea and that it's better to invest in an actual service or productive activity. But George Soros made a billion in one day shorting the British pound. Currencies go up and down. Of course you can make money in currency speculation.

[dEBRUYNE]

Yes, fluffypony says that investing in cryptocurrencies to get a return is not a good idea and that it's better to invest in an actual service or productive activity. But George Soros made a billion in one day shorting the British pound. Currencies go up and down. Of course you can make money in currency speculation.

I think his words are commonly misinterpreted. If I recall correctly, he acknowledges the benefits of everyone that in some way contributes to the ecosystem. Regardless of whether that are speculators/investors/coders. However, he also thinks that creating some kind of service or productive activity is more beneficial than simply speculating.

[jehst]

Yes, fluffypony says that investing in cryptocurrencies to get a return is not a good idea and that it's better to invest in an actual service or productive activity. But George Soros made a billion in one day shorting the British pound. Currencies go up and down. Of course you can make money in currency speculation.

I think his words are commonly misinterpreted. If I recall correctly, he acknowledges the benefits of everyone that in some way contributes to the ecosystem. Regardless of whether that are speculators/investors/coders. However, he also thinks that creating some kind of service or productive activity is more beneficial than simply speculating.

Yes, we all play our role. Personally, I couldn't waste XMR on dice games or buying socks or something like that.

[XMRpromotions]

Yes, fluffypony says that investing in cryptocurrencies to get a return is not a good idea and that it's better to invest in an actual service or productive activity. But George Soros made a billion in one day shorting the British pound. Currencies go up and down. Of course you can make money in currency speculation.

I think his words are commonly misinterpreted. If I recall correctly, he acknowledges the benefits of everyone that in some way contributes to the ecosystem. Regardless of whether that are speculators/investors/coders. However, he also thinks that creating some kind of service or productive activity is more beneficial than simply speculating.

Yes, we all play our role. Personally, I couldn't waste XMR on dice games or buying socks or something like that.

If you are referring to alpaca socks (early bitcoin merchant) I disagree with you. It is very important for a currency to actually be used (spent) like a currency in order for an economy to be built around it.  I hope everyone here is very supportive of all our early merchants so that more are encouraged to follow.

http://www.coindesk.com/alpacas-the-unofficial-mascot-of-bitcoin/

If anyone wants to sell socks for Monero you can count on me to become a customer!

[jehst]

Yes, fluffypony says that investing in cryptocurrencies to get a return is not a good idea and that it's better to invest in an actual service or productive activity. But George Soros made a billion in one day shorting the British pound. Currencies go up and down. Of course you can make money in currency speculation.

I think his words are commonly misinterpreted. If I recall correctly, he acknowledges the benefits of everyone that in some way contributes to the ecosystem. Regardless of whether that are speculators/investors/coders. However, he also thinks that creating some kind of service or productive activity is more beneficial than simply speculating.

Yes, we all play our role. Personally, I couldn't waste XMR on dice games or buying socks or something like that.

If you are referring to alpaca socks (early bitcoin merchant) I disagree with you. It is very important for a currency to actually be used (spent) like a currency in order for an economy to be built around it.  I hope everyone here is very supportive of all our early merchants so that more are encouraged to follow.

http://www.coindesk.com/alpacas-the-unofficial-mascot-of-bitcoin/

If anyone wants to sell socks for Monero you can count on me to become a customer!

I'd rather get rid of USD and keep the XMR.

[TrueCryptonaire]

Yes, fluffypony says that investing in cryptocurrencies to get a return is not a good idea and that it's better to invest in an actual service or productive activity. But George Soros made a billion in one day shorting the British pound. Currencies go up and down. Of course you can make money in currency speculation.

I think his words are commonly misinterpreted. If I recall correctly, he acknowledges the benefits of everyone that in some way contributes to the ecosystem. Regardless of whether that are speculators/investors/coders. However, he also thinks that creating some kind of service or productive activity is more beneficial than simply speculating.

Yes, we all play our role. Personally, I couldn't waste XMR on dice games or buying socks or something like that.

If you are referring to alpaca socks (early bitcoin merchant) I disagree with you. It is very important for a currency to actually be used (spent) like a currency in order for an economy to be built around it.  I hope everyone here is very supportive of all our early merchants so that more are encouraged to follow.

http://www.coindesk.com/alpacas-the-unofficial-mascot-of-bitcoin/

If anyone wants to sell socks for Monero you can count on me to become a customer!

How many Moneros are you willing to pay for my stinky socks?

[smooth]

Yes, fluffypony says that investing in cryptocurrencies to get a return is not a good idea and that it's better to invest in an actual service or productive activity. But George Soros made a billion in one day shorting the British pound. Currencies go up and down. Of course you can make money in currency speculation.

I think his words are commonly misinterpreted. If I recall correctly, he acknowledges the benefits of everyone that in some way contributes to the ecosystem. Regardless of whether that are speculators/investors/coders. However, he also thinks that creating some kind of service or productive activity is more beneficial than simply speculating.

Yes, we all play our role. Personally, I couldn't waste XMR on dice games or buying socks or something like that.

If you are referring to alpaca socks (early bitcoin merchant) I disagree with you. It is very important for a currency to actually be used (spent) like a currency in order for an economy to be built around it.  I hope everyone here is very supportive of all our early merchants so that more are encouraged to follow.

http://www.coindesk.com/alpacas-the-unofficial-mascot-of-bitcoin/

If anyone wants to sell socks for Monero you can count on me to become a customer!

It didn't matter that you could by Alpaca socks for the socks, but it was an important symbol (its impact evident in that we are still citing it years later) that encouraged further adoption.

[jehst]

Yes, fluffypony says that investing in cryptocurrencies to get a return is not a good idea and that it's better to invest in an actual service or productive activity. But George Soros made a billion in one day shorting the British pound. Currencies go up and down. Of course you can make money in currency speculation.

I think his words are commonly misinterpreted. If I recall correctly, he acknowledges the benefits of everyone that in some way contributes to the ecosystem. Regardless of whether that are speculators/investors/coders. However, he also thinks that creating some kind of service or productive activity is more beneficial than simply speculating.

Yes, we all play our role. Personally, I couldn't waste XMR on dice games or buying socks or something like that.

If you are referring to alpaca socks (early bitcoin merchant) I disagree with you. It is very important for a currency to actually be used (spent) like a currency in order for an economy to be built around it.  I hope everyone here is very supportive of all our early merchants so that more are encouraged to follow.

http://www.coindesk.com/alpacas-the-unofficial-mascot-of-bitcoin/

If anyone wants to sell socks for Monero you can count on me to become a customer!

It didn't matter that you could by Alpaca socks for the socks, but it was an important symbol (its impact evident in that we are still citing it years later) that encouraged further adoption.

True. I think the fact that we have some people offering services and goods for XMR is good enough. We don't need to encourage people to spend XMR unless they are going to immediately buy back the spent XMR. The desire to hold XMR is what maintains any market value at all. Otherwise, XMR just becomes a hot potato.

[smooth]

Yes, fluffypony says that investing in cryptocurrencies to get a return is not a good idea and that it's better to invest in an actual service or productive activity. But George Soros made a billion in one day shorting the British pound. Currencies go up and down. Of course you can make money in currency speculation.

I think his words are commonly misinterpreted. If I recall correctly, he acknowledges the benefits of everyone that in some way contributes to the ecosystem. Regardless of whether that are speculators/investors/coders. However, he also thinks that creating some kind of service or productive activity is more beneficial than simply speculating.

Yes, we all play our role. Personally, I couldn't waste XMR on dice games or buying socks or something like that.

If you are referring to alpaca socks (early bitcoin merchant) I disagree with you. It is very important for a currency to actually be used (spent) like a currency in order for an economy to be built around it.  I hope everyone here is very supportive of all our early merchants so that more are encouraged to follow.

http://www.coindesk.com/alpacas-the-unofficial-mascot-of-bitcoin/

If anyone wants to sell socks for Monero you can count on me to become a customer!

It didn't matter that you could by Alpaca socks for the socks, but it was an important symbol (its impact evident in that we are still citing it years later) that encouraged further adoption.

True. I think the fact that we have some people offering services and goods for XMR is good enough. We don't need to encourage people to spend XMR unless they are going to immediately buy back the spent XMR. The desire to hold XMR is what maintains any market value at all. Otherwise, XMR just becomes a hot potato.

I think merchants are kind of neutral to value. Yes you can spend it like a hot potato and the merchant may (probably will) dump it, but at the same time knowing that you can spend it may make you more willing to hold it (everything being based on speculation and selling to a greater fool being another version of "hot potato"). Also some merchants may hold and indeed may be accepting the currency in order to accumulate it (I'm sure some people who work for crypto do this, though that is a bit of a different case than retail).

So overall, it is hard to say what the impact on value might be, but that is just my opinion. I know there is a point of view that says merchants are just an excuse to dump and purely harmful to value since (almost) nobody holds, and it isn't necessarily wrong (in the sense that I can't disprove it).

[dnaleor]

Yes, fluffypony says that investing in cryptocurrencies to get a return is not a good idea and that it's better to invest in an actual service or productive activity. But George Soros made a billion in one day shorting the British pound. Currencies go up and down. Of course you can make money in currency speculation.

I think his words are commonly misinterpreted. If I recall correctly, he acknowledges the benefits of everyone that in some way contributes to the ecosystem. Regardless of whether that are speculators/investors/coders. However, he also thinks that creating some kind of service or productive activity is more beneficial than simply speculating.

I also think that it's preferable that people who invest in XMR also try to contribute something.
But even if people don't, just buying and HODLing XMR adds value:

without HODLers, Monero doesn't have any value at all and can't be used as medium of exchnage.
If a coin would ONLY be used ad medium of exchange, the value would be almost zero because people buy coins at say 1 sat, immediately buy their alpaca socks and the seller immediately dumps his coins at 1 sat to the next buyer.

Money has 3 stages of adoption:
1. Store of value: people hold coins => a "base value" is set
2. Medium of exchange: people use coins => liquidity at market is needed (people using the coin buy, people receiving coins sell) if liquidity isn't sufficient, people won't use XMR because they get a bad deal when using XMR.
3. Unit of account: people price products at a fixed XMR amount => a lot of liquidity and a stable market value is needed thus this requires mass adoption.

Only block rewards are at stage 3
people using xmr.to and/or shapeshift are at stage 2
Most of XMR action happens at stage one. Speculators are an essential part of the ecosystem.

[Hueristic]

He is trolling lol

TrueCryptonaire actually is one of my favorite Monero trolls. Transparent, yes but he is still funny at times.

It is fun to look at his history and record the dates that marked his change from bull to bear and vise versa (pattern repeats several times).

Very true, Completely transparent, has no impact on market and amusing! Who could ask for moar!

[dEBRUYNE]

Stumbled upon some old interesting threads about Bitcoin & anonymity:

https://bitcointalk.org/index.php?topic=241.msg2071#msg2071

https://bitcointalk.org/index.php?topic=8.msg33#msg33