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Author Topic: [XMR] Monero Speculation  (Read 3309506 times)
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smooth (OP)
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October 23, 2016, 02:06:19 AM
 #24421

Also from memory during the time that I bought, there was an attack or threat of an attack by 'BTCExpress?' and it caused a lot of jitters in the XMR community. XMR has obviously survived, but what was the outcome, if you remember.

Nothing happened. It was all FUD.

My personal theory is that the people behind it (I don't think BCX was working alone) did really think they had discovered a vulnerability in the crypto, but that was due to a misunderstanding of the math on their part. So it turned out to be a false alarm. But that could be wrong, and it may have just been speculators wanting to make money by shorting and FUDding. No way to know really.
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24Kilo
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October 23, 2016, 02:17:39 AM
 #24422

Yes the blockchain had to be loaded in RAM and I could no longer run a node.  Now the daemon uses little resources.  I synced the blockchain from scratch when 0.10 was released and it was much quicker to do so.  Although there is no official GUI yet (it is almost ready) simplewallet which is now called monero-wallet-cli has had a great deal of functionality added.  RingCT is in the current code and will be activated in Jan.  0MQ is being worked on which will help with the infrastructure needed for adoption. 

Yes we all would like things to move faster.  I do my part the only way I can by donating to development.  There were 2 very recent funding proposals that I contributed to.  Many others did as well and they were funded quickly.  Paying for a developer for Monero proper as well as a dev for the i2p implementation.  These were done using the Monero Forum Funding System.  That is something started during your absence so please add that to the list of improvements. 

Also there are more people donating their time to development. 

Welcome back!  Sorry I have no advice as to what you do from here.

Thanks!

One of the things I learned over the past two years is that all things take time. So while I was being critical, I am not in any rush. The past 2 years have come and gone so quickly it is scary. It has been a good lesson in patience and learning to let things happen as they happen.

It is great to hear of the improvements and progress of XMR while I was gone. And to learn of the new projects being undertaken recently.

Learning about the issue with block size with BTC has been interesting, and what I have learned from that is that any coin that will see wide spread adoption must have a plan, either now or in the future, to adapt to increased block size as transactions increase with adoption. I suppose I am a slow-learner to only find out now that XMR has dealt with this issue. I am re-evaluating my whole crypto-coin portfolio as a result.

With the increased volume and volatility of XMR, maybe I can learn to do a bit of short-term trading and reinvest the profits in both XMR and XMR development.
24Kilo
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October 23, 2016, 02:19:51 AM
 #24423

Also from memory during the time that I bought, there was an attack or threat of an attack by 'BTCExpress?' and it caused a lot of jitters in the XMR community. XMR has obviously survived, but what was the outcome, if you remember.

Nothing happened. It was all FUD.

My personal theory is that the people behind it (I don't think BCX was working alone) did really think they had discovered a vulnerability in the crypto, but that was due to a misunderstanding of the math on their part. So it turned out to be a false alarm. But that could be wrong, and it may have just been speculators wanting to make money by shorting and FUDding. No way to know really.


Thanks!

It is obvious that whatever it was, it had no long-term detriment on XMR as 2 years on XMR is still here and growing.
24Kilo
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October 23, 2016, 02:21:14 AM
 #24424

Besides the "official" GUI theres another 3 in the works, soon Monero will be known as the crypto-currency will too many GUIs.

https://github.com/monero-project/monero-core

https://github.com/moneybit/moneybit
https://www.reddit.com/r/Monero/comments/57n44b/jaxx_decentral_introduction_and_how_we_are/
https://www.reddit.com/r/Monero/comments/4zierq/nice_gui_wallet_exodusio_about_to_support_monero/

I can only vouch for the official gui, but I confess that I'll be using the jaxx one with small amounts in my phone.

Thanks for the links, I will check them out.
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October 23, 2016, 06:24:26 AM
 #24425

---

I was disappointed and pleasantly surprised at the same time. Pleased the price had appreciated, but disappointed that in 2 years so little seems to have been done in terms of adoption and software. Nothing seems to have really changed, XMR seems only to exist as a hedge to BTC(and has done it so well that it appears to have dethroned LTC) while daily usage has not really made any real headway. The wallet it still clunky, needing the daemon to be sync'ed before opening a barely improved wallet. Maybe I am being too harsh, but it has been over 2 years, not 2 months or even 6 months.

I was pleased to see that Risto, Smoothy, Icebreaker and a few old names are still here and supporters of XMR.

So in summary, over the past 2 days I have bought 945XMR at an average price of about .0104BTC. I am adding them to the 55XMR in my cold storage wallet.

My only question is... should I go away for another 2 years before checking on XMR again?

I would use Monero as a method of payment if there would be more places to use them (sure I could have done it via xmr.to) but it would be simpler just to use btc directly.
The other thing, I order quite little online because I need pretty much nothing and my costs are quite minimal. Together with my wife we spend around 1000 euros/month and that includes everything from housing to toothpaste.
However, it is nice to buy a gold coin or two a few times in a year and I see this a good opportunity to spend Moneros (last time I tried to figure xmr.to out it was not in use) - why not. Anyway I need to pay the gold coin so why not use XMR and replace the spent amount from Poloniex.
When Monero skyrockets, perhaps Risto will re-open the gold window and accepts Moneros directly...?  Grin
Perhaps there is a niche for ebay-type of service in Moneros? In my case, I would not care to sell the coins into Poloniex when the price rises but buy directly with Moneros from a trusted source. DNM are not the way I personally buy stuff because I have very limited need for the products/"services" they offer.
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October 23, 2016, 06:41:28 AM
 #24426

The end of 2014 I put all my crypto wallets in cold storage and did not think about crypto until about two weeks ago. Circumstances of life took me to a place where even mobile phone service was a luxury, internet was a pipe-dream. It has been very interesting to step away from crypto for about 2 years and come back.

XMR was brought to my attention by Risto, whom I highly respect as one of the brightest minds on this forum. His posts about Bitcoin Distribution, the '(SSS) - A Sane and Simple bitcoin Savings' plan are brilliant and thought-provoking. I bought 55XMR at 0.004BTC, which is all I could afford, just before I left crypto in Sept. 2014. Since then the price of XMR has down to .001 and up to .025 and back again.

I was disappointed and pleasantly surprised at the same time. Pleased the price had appreciated, but disappointed that in 2 years so little seems to have been done in terms of adoption and software. Nothing seems to have really changed, XMR seems only to exist as a hedge to BTC(and has done it so well that it appears to have dethroned LTC) while daily usage has not really made any real headway. The wallet it still clunky, needing the daemon to be sync'ed before opening a barely improved wallet. Maybe I am being too harsh, but it has been over 2 years, not 2 months or even 6 months.

I was pleased to see that Risto, Smoothy, Icebreaker and a few old names are still here and supporters of XMR.

So in summary, over the past 2 days I have bought 945XMR at an average price of about .0104BTC. I am adding them to the 55XMR in my cold storage wallet.

My only question is... should I go away for another 2 years before checking on XMR again?

Kilo! Good to see you here... Slack is deserted so I'm kind of hangin around on BCT... About the same story with me XMR wise, but kept an eye on the movements and bought some more a year ago. Got rid of the last "Other coins" this week and lookingi for a new destination.
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October 23, 2016, 06:53:07 AM
 #24427

Nrg was gone for 5 minutes and the thread is already back to its old self. Cry

Its not just him and his trolls. You can just put them on ignore. Its when well meaning people engage with it that the thread turns to shit.

Rep Thread: https://bitcointalk.org/index.php?topic=381041
If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited?
thsminer
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October 23, 2016, 07:09:15 AM
 #24428

Nrg was gone for 5 minutes and the thread is already back to its old self. Cry

Its not just him and his trolls. You can just put them on ignore. Its when well meaning people engage with it that the thread turns to shit.

Smiley In fact it's quite easy to get rid of the scum. If every serious member just does not reply or quote their messages, these jokers will disappear... Because of their low empathic abilities they will start a convo with themselves but that's no fun in the long run an will die out pretty quickly.
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October 23, 2016, 07:17:56 AM
 #24429

Kilo! Good to see you here... Slack is deserted so I'm kind of hangin around on BCT... About the same story with me XMR wise, but kept an eye on the movements and bought some more a year ago. Got rid of the last "Other coins" this week and lookingi for a new destination.

thsminer! Great to hear from you!!! I still have quite a stash of 'Other Coins', albeit I sold quite a nice chunk this past week, taking a very tidy profit thanks to Fuse getting in contact with me and telling me to get off my bum!!! Check out Slack, I posted to there this week about my current status.

Thanks to everyone else for the advise and comments. I especially like the sound of being able to buy gold with XMR. What I really want to see from XMR is stability with enough volume and volatility to be able to buy and sell substantial sums of XMR when needed as I want to use XMR just I use BTC, Gold, Silver and other currencies to hedge against inflation and to provide a diverse store of wealth.

One of things that I really like about BTC over the past years is the fairly stable value with steady capital appreciation.

Like TrueCryptonaire, I don't really have much need to buy anything online. And as a family, we are pretty much self-sufficient, so monthly expenses are minimal and mostly with local establishments, so I don't really have a daily use for XMR. Although it would be great to be able to buy my Danner boots with XMR, the one luxury I have to import regularly.

I would say the best part of being away from crypto for 2 years is the ability to be very rational and clear when evaluating various coins and the technology used. Risto posted very early on that XMR greatest potential was that it had significantly different and possibility superior tech to BTC and this is what seperated from other alt-coins such as LTC. Of course, a dedicated and hard-working community is very important as well.

Again thanks to everyone for warm welcome back!!!



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October 23, 2016, 09:24:15 AM
 #24430

---

I was disappointed and pleasantly surprised at the same time. Pleased the price had appreciated, but disappointed that in 2 years so little seems to have been done in terms of adoption and software. Nothing seems to have really changed, XMR seems only to exist as a hedge to BTC(and has done it so well that it appears to have dethroned LTC) while daily usage has not really made any real headway. The wallet it still clunky, needing the daemon to be sync'ed before opening a barely improved wallet. Maybe I am being too harsh, but it has been over 2 years, not 2 months or even 6 months.

I was pleased to see that Risto, Smoothy, Icebreaker and a few old names are still here and supporters of XMR.

So in summary, over the past 2 days I have bought 945XMR at an average price of about .0104BTC. I am adding them to the 55XMR in my cold storage wallet.

My only question is... should I go away for another 2 years before checking on XMR again?

I would use Monero as a method of payment if there would be more places to use them (sure I could have done it via xmr.to) but it would be simpler just to use btc directly.

In my opinion, using XMR.to is just as simple. Furthermore, with XMR.to you preserve the privacy features Monero offers (i.e. unlinkability and untraceability), whereas paying directly with BTC will make your payment traceable and linkable.



@24Kilo: These year in reviews provide a nice summary of what happened in the last two years.

https://getmonero.org/2015/01/05/monero-missive-2014-year-in-review.html

https://getmonero.org/2016/02/10/monero-missive-2015-year-in-review.html

A lot has happened in 2016 too. Unfortunately, there is no concise write up about this yet. However, you can look at the top threads / stories on reddit to get a bit of the picture:

https://www.reddit.com/r/Monero/top/?sort=top&t=year

Privacy matters, use Monero - A true untraceable cryptocurrency
Why Monero matters? http://weuse.cash/2016/03/05/bitcoiners-hedge-your-position/
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October 23, 2016, 12:33:27 PM
 #24431

Whatever happened to Aminorex?  Angry

Baguette Holder.
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October 23, 2016, 01:16:18 PM
 #24432

Whatever happened to Aminorex?  Angry

I heard lot's of people saying he is on an around the world cruise.

I know you are missing his English lessons.  Maybe his brain short circuited listening to the person that constantly uses a format similar to the one I used in my first sentence. Cool

As proof of my first sentence I have included the following quote. Grin

It is my understanding that he went on a cruise around the world.

In other news: I'm on my second cup of tea, darjeeling
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October 23, 2016, 02:08:16 PM
 #24433

C9H10N2O tend to appear when the price is rising.
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October 23, 2016, 02:10:40 PM
 #24434

Whatever happened to Aminorex?  Angry

I *think* I actually saw a comment on a ZeroHedge article a day or two ago by someone calling himself AminorEx, speaking about Monero in response to some ZH article about either bitcoin or gold, I think it was... but now I can't find it, LOL

So IF TRUE, he's still online and posting but just not *here* lately.  Maybe the recent troll infestation just ran him off...

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October 23, 2016, 03:47:03 PM
 #24435

I *think* I actually saw a comment on a ZeroHedge article a day or two ago by someone calling himself AminorEx, speaking about Monero in response to some ZH article about either bitcoin or gold, I think it was...
I read that too! It was an article on how the widespread adoption of Bitcoin could pose a threat to the ECB's deranged use of the printing press to expand the monetary supply.
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October 23, 2016, 04:17:01 PM
 #24436


I *think* I actually saw a comment on a ZeroHedge article a day or two ago by someone calling himself AminorEx, speaking about Monero in response to some ZH article about either bitcoin or gold, I think it was...

I read that too! It was an article on how the widespread adoption of Bitcoin could pose a threat to the ECB's deranged use of the printing press to expand the monetary supply.



Yup!  That's the one...

Aminorex's comment there on 2nd page was:

Quote

aminorex  Oct 19, 2016 9:38 AM
Bitcoin is no threat because it is traceable. All transactions are visiting le on the public blockchain.  That is why I use Monero. The blockchain for Monero is private, opaque, and transactions are truly anonymous.  It is the first and only true digital cash.


...doin' his part here to help The Man In The Street to discover XMR  Wink


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nioc
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October 23, 2016, 06:40:12 PM
 #24437

^^Oh well it looks like I may have lied to myself.


In other news:  Yesterday there were 12 pull requests merged into the master and today there were 7.  Forget it everyone, this coin is ded.
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October 23, 2016, 09:08:11 PM
 #24438

Monero is a landmark advancement with a future. And yet... I'm holding a short position.

Utility and trading are not the same thing.
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October 23, 2016, 09:09:39 PM
 #24439


Utility and trading are not the same thing.


Neither are "Investing" and "Gambling" -- also not the same thing  Grin

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October 23, 2016, 09:22:12 PM
 #24440

I have a background in professional statistics.

After watching the forum take a bath going long over the last month I considered sharing some entries/exits to help abate the bleeding. The hostility toward anyone arriving at a "short" result... even if taking measurements with an unbiased starting point... has me reconsidering any sort of information sharing.
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