[XMR] Monero Speculation

[ArticMine]

There are at least two very valid reasons why diverting a portion of the block rewards to development or some other project such as marketing is not a good idea at all.

1) Regulatory compliance.

This is the elephant in the room in crypto currency and Monero is one of very few crypto currencies that has avoided some very serious regulatory compliance risks. The critical aspect of this is the guidance that was issued by FinCEN in March of 2013. https://www.fincen.gov/sites/default/files/shared/FIN-2013-G001.pdf. In order for a crypto currency to be compliant while at the same time avoiding the requirement of registration as a Money Services Business, and consequential AML/KNC requirements, the crypto currency must qualify as a "De Centralized Virtual Currency" under the guidance. This means that the block rewards have to go in their entirety to the miners and cannot be diverted for other purposes such as to fund development or marketing. If the block rewards are diverted in such a manner then those who are administering the diverted block rewards would be very likely be considered to be "administrators" or "exchangers" under the guidance, be required to register as MSBs and be subject to AML/KNC reporting requirements among other requirements. Ripple has already been subject to regulatory enforcement over this very issue. While I am not aware, at this time, of any regulatory action over this against Dash, the risk in that case likely remains very high. While this is specific to the United States, the reality is that the United States is at least for the time being, the world leader in financial regulation in particular because of the reserve currency status of the United States dollar.

In summary one needs to keep one's hands out of the till, block rewards, in order to keep the regulator away.

If this is true, then ZCash is going to face real problems as an US-company, or better said their miners.

It is not just Z.Cash. There are many crypto - currencies that have this serious regulatory risk. Please read the guidance carefully rather than simply take my word for it. The question to ask when reading the guidance is: Does a particular crypto currency qualify as a "De Centralized Virtual Currency" under the guidance?

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[OrangeP]

There are at least two very valid reasons why diverting a portion of the block rewards to development or some other project such as marketing is not a good idea at all.

1) Regulatory compliance.

In summary one needs to keep one's hands out of the till, block rewards, in order to keep the regulator away.

If this is true, then ZCash is going to face real problems as an US-company, or better said their miners.

It is not just Z.Cash. There are many crypto - currencies that have this serious regulatory risk. Please read the guidance carefully rather than simply take my word for it. The question to ask when reading the guidance is: Does a particular crypto currency qualify as a "De Centralized Virtual Currency" under the guidance?

I wouldn't care too much about getting deep into these law discussions. If regulators (aka the lobby) really want to bring down/illegalize a crypto currency for whatever reason, they will do it regardless of anything. At least that's the way how Europe works, where established law is getting pooped on by governments all the time.

This overall is an argument for currencies that work without a company behind it. Developers should also rather not be US citizen. 

[el testosteron]

loved the bear trap from 019 to 016 and back to 019. Fingers crossed

[Hueristic]

.011 is a good place to put buys right now IMO.

Nice call, Thank you.

[TrueCryptonaire]

.011 is a good place to put buys right now IMO.

Nice call, Thank you.

It is easy to make calls if one is doomed to see the future yet unable to prevent it.

[Hueristic]

.011 is a good place to put buys right now IMO.

Nice call, Thank you.

It is easy to make calls if one is doomed to see the future yet unable to prevent it.

2True, the hardest part is 99.99% of the time I'm also unable to capitalize on it!

[milewilda]

Volume is so worse even with that positve news. I also sold my little 1500 xmr... at least with 7%... thanks for all supporters and realists here. Thank also to the devs who make this coin possible. I guess I'm out for now, to hot to lose money with that coin. I think, as already some ppl said, without a nice GUI, this coin will always have rocks on his path what makes it falling to his face.

Yesterdays shakeout was high volume. I rode the wave and made 10% on my dust. It was great fun to watch. Now I'll wait for another dip to buy again it's not hard to ride the sideways movements it's predicting when the huge dump or pump is gonna happen and you don't want to be on the wrong side of those!

.011 is a good place to put buys right now IMO.

This is  a normal move for short day traders , as you said  we  should rode on the wave and make % profits  later on. Rinse and continue, just like that . Huge  pump and dump are also normal its  really up to us  on  how  we  gonna ride it. 0.011 is somehow a good set buy order.

[Anon136]

You know I'm becoming convinced that these markets are manipulated. Why would a loser project like "pot coin" rise so hard and crash so fast like that? Nobody should have ever even heard of it. People were talking about FOMO on "pot coin". FOMO ON "POT COIN". What!?

I know this is probably not news to anyone but im naturally extremely skeptical of everything. So I wasnt convinced till now. But closely watching the rise and fall of "pot" has convinced me. I just cant comprehend an organic growth driven process for what that "pot coin" chart looks like. So I really think some group of people pushes these things up in large conspiratorial calculated moves.

If this is the case they probably did it to our baby monero too. They used and abused her. Most of the buyers almost certainly had no understanding of the potential like we do. And I mean the market leaders not just the whale chasing FOMO zombies. That's not at all why they were buying.

But hey they say no press is bad press. So we will probably settle at a higher level than we started thanks to this "pump" and we still have the organic adoption to look forward to.

[N-rG]

Does anyone here knows when jaxx actually will release their wallet with XMR support? And who is behind this company (could only find Toronto, Canada on their twitter account) but no proof or more information. Anyone here knows more?

[mokou]

And who is behind this company (could only find Toronto, Canada on their twitter account) but no proof or more information. Anyone here knows more?

http://decentral.ca/about/

But can we really be sure about this? Is a website valid proof? What if it's just a ruse? Are these even their real names?

[thsminer]

You know I'm becoming convinced that these markets are manipulated. Why would a loser project like "pot coin" rise so hard and crash so fast like that? Nobody should have ever even heard of it. People were talking about FOMO on "pot coin". FOMO ON "POT COIN". What!?

I know this is probably not news to anyone but im naturally extremely skeptical of everything. So I wasnt convinced till now. But closely watching the rise and fall of "pot" has convinced me. I just cant comprehend an organic growth driven process for what that "pot coin" chart looks like. So I really think some group of people pushes these things up in large conspiratorial calculated moves.

If this is the case they probably did it to our baby monero too. They used and abused her. Most of the buyers almost certainly had no understanding of the potential like we do. And I mean the market leaders not just the whale chasing FOMO zombies. That's not at all why they were buying.

But hey they say no press is bad press. So we will probably settle at a higher level than we started thanks to this "pump" and we still have the organic adoption to look forward to.

Very true... It happens to nearly every coin out here. Once you know, you start to recognize the pattern and won't be fooled (most of the time...).
There are only a few coins out here with real use cases and even then there is almost no direct market. In case of Monero if a large amount is needed for a transaction it's bought instant, the deal is done and the other party sells the coins. So Monero is used as a transport and very little is stuck in wallets. This will change in time but it's a slow adoption process.

[freedomgo]

You know I'm becoming convinced that these markets are manipulated. Why would a loser project like "pot coin" rise so hard and crash so fast like that? Nobody should have ever even heard of it. People were talking about FOMO on "pot coin". FOMO ON "POT COIN". What!?

I know this is probably not news to anyone but im naturally extremely skeptical of everything. So I wasnt convinced till now. But closely watching the rise and fall of "pot" has convinced me. I just cant comprehend an organic growth driven process for what that "pot coin" chart looks like. So I really think some group of people pushes these things up in large conspiratorial calculated moves.

If this is the case they probably did it to our baby monero too. They used and abused her. Most of the buyers almost certainly had no understanding of the potential like we do. And I mean the market leaders not just the whale chasing FOMO zombies. That's not at all why they were buying.

But hey they say no press is bad press. So we will probably settle at a higher level than we started thanks to this "pump" and we still have the organic adoption to look forward to.

This explanation had made me change my mind and now I will be holding monero and even but with it's current price now. Thanks for the very concise explanation, people like me who are just new in the industry gets some valuable lessons, very realistic analysis.

[N-rG]

You know I'm becoming convinced that these markets are manipulated. Why would a loser project like "pot coin" rise so hard and crash so fast like that? Nobody should have ever even heard of it. People were talking about FOMO on "pot coin". FOMO ON "POT COIN". What!?

I know this is probably not news to anyone but im naturally extremely skeptical of everything. So I wasnt convinced till now. But closely watching the rise and fall of "pot" has convinced me. I just cant comprehend an organic growth driven process for what that "pot coin" chart looks like. So I really think some group of people pushes these things up in large conspiratorial calculated moves.

If this is the case they probably did it to our baby monero too. They used and abused her. Most of the buyers almost certainly had no understanding of the potential like we do. And I mean the market leaders not just the whale chasing FOMO zombies. That's not at all why they were buying.

But hey they say no press is bad press. So we will probably settle at a higher level than we started thanks to this "pump" and we still have the organic adoption to look forward to.

This explanation had made me change my mind and now I will be holding monero and even but with it's current price now. Thanks for the very concise explanation, people like me who are just new in the industry gets some valuable lessons, very realistic analysis.

You make your mind changing by an board post with some "proably" insinde? Wow

Most people use too much emotions and get controlled by the mob and dont controll the mob. Look what happened yesterday... "we get 0.04"....these are the people who always lose money.

The news yesterday was good. The short price rise was expected, and i sold. The news is still no gamechanger for XMR. The coin is so far not even implemented. And he is not going to be stored decentralized there and they could get hacked. Its still nothing compared to Electrum. So guess what will happen. Think like a maschine.

[adolf512]

Most people use too much emotions and get controlled by the mob and dont controll the mob. Look what happened yesterday... "we get 0.04"....these are the people who always lose money.

The news yesterday was good. The short price rise was expected, and i sold. The news is still no gamechanger for XMR. The coin is so far not even implemented. And he is not going to be stored decentralized there and they could get hacked. Its still nothing compared to Electrum. So guess what will happen. Think like a maschine.

I guess the people that bought above 0.02 was mostly the same people as the ones that sold below 0.011 "i hold long term" → "o shit i sold at 0.01, this sucks". I do consider 0.012 to be a low price but obviously you did the correct decision selling above 0.012, you could have re-bought it 10% cheaper(maybe you did that).

i was close to selling now, i do not really like to hold xmr atm, i dont want to be stuck if the price falls below 0.011 again. I have concluded that the price is likely to spike again(slow increase follow by hysteria) and i still think i will hold.

Another beartrap? dropped to 0.0135 and is now increasing slowly again.

[mnemonicsoup]

You know I'm becoming convinced that these markets are manipulated. Why would a loser project like "pot coin" rise so hard and crash so fast like that? Nobody should have ever even heard of it. People were talking about FOMO on "pot coin". FOMO ON "POT COIN". What!?

I know this is probably not news to anyone but im naturally extremely skeptical of everything. So I wasnt convinced till now. But closely watching the rise and fall of "pot" has convinced me. I just cant comprehend an organic growth driven process for what that "pot coin" chart looks like. So I really think some group of people pushes these things up in large conspiratorial calculated moves.

Isn't that what you call "manipulation" just bots trading? Some whale creates a hype, the bots (and others) jump in and the whale goes out making a small fortune?

[mfqrs3]

On my charts, xmr broke up from descending wedge, next stop should be around 0.02 range(speculation).

[sandiman]

On my charts, xmr broke up from descending wedge, next stop should be around 0.02 range(speculation).

unzoom and redraw it, we still in it 

[mfqrs3]

On my charts, xmr broke up from descending wedge, next stop should be around 0.02 range(speculation).

unzoom and redraw it, we still in it  

Maybe so, I think 1D/4h is fine for me. Btc will retrace a little so I expect a move up here(speculation).

[Febo]

Does anyone here knows when jaxx actually will release their wallet with XMR support? And who is behind this company (could only find Toronto, Canada on their twitter account) but no proof or more information. Anyone here knows more?

https://bitcoinmagazine.com/articles/monero-coming-jaxx-wallets-including-ios-with-apple-s-blessing-1476224917

“Monero is a very interesting technology with a unique system that involves an additional level of nuance in terms of wallet integration. We are working on getting Monero connected to Jaxx as we speak,” said Di Iorio.  “We’ve been in regular communication with the Monero team and are looking at a three-week timetable, the end of October to early November, in terms of a launch.”

[Quicken]

Price will not go to 0.04 or 0.03 ... maybe 0.02x

Why?

NO GUI! No one will use it. Ordinary people dont understand and dont want a DOS Console.

Question is, when the GUI, RingCT and Kovri are out, will you be on the train?
Q