[XMR] Monero Speculation

[kurious]

you specifically cannot sue them for unjust enrichment. Why would that be in there? Any ideas?

So that they can unjustly enrich themselves at your expense without an excessive fear of civil penalties.  I am frankly surprised that I haven't heard of any actual scammer deaths by mob vigilantism, in crypto, lo these many years.  Wassup with that?  

I think it is pretty annoying that they would imply one thing but rely upon its opposite, yeah, but as long as it is fit for purpose I will use it as necessary.

However, it isn't actually necessary.  Elsewhere it was drawn to my attention that bitfinex xmrusd is actually doing a good tick these days, so I can just remove my market making operations to my u.k. company and be decoupled from btc entirely.  That's a far better solution, AFAICT.  

BTW, you've gotta love those U.K. LLPs.  Non-tax pass-thru for foreign earned income!  Mine is owned by a self-directed Roth.  Every penny earned is lawfully owned free and clear without tax liability by my Roth.  And U.K. means access to retail fx 100:1, and CFDs.

Is that only if the beneficiary is non-dom?   Does it apply similarly if you are UK based (residency-wise)? I just assumed CGT applied no matter what.

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[ArticMine]

I agree with Hueristic with respect to Tether. It is a basically a promise to pay USD without any of the safeguards in the regulated banking system. So one literally gets the worst of both worlds. If you want to hold USD then hold USD cash or a bank deposit up to the 250,000 USD FDIC maximum. If the deposit is uninsured then one better trust the financial institution holding the deposit. The same would apply to other fiat currencies, CAD, EUR, GBP etc.

I have something of a bee in my bonnet about this, and it's getting a little off topic, but one more comment and I'll shut up.

A promise to pay USD is specifically and explicitly what Tether is _not_, per the terms of service.

Safeguards? Safeguards are to make sure companies can and do keep their promises. Tether doesn't make any. Yes, unless you read the TOS you might get the impression from their site that Tethers are backed by money in the bank, and that you have the right to redeem Tethers, but the TOS say no right to redeem and helpfully resolve the conflict by specifying that if the site says one thing and the TOS another, the TOS wins. I don't know what the talk about Tether's reserves and whether they are actually are what Tether says they are has to do with anything - what does it matter if Tether holders have no legal claim on them?

I don't think many realize how all-encompassing Tether's disclaimers in their terms of service (https://tether.to/legal) really are, e.g. you specifically cannot sue them for unjust enrichment. Why would that be in there? Any ideas?

It is a very valid point; however how a court of law will look at this is an entirely different matter. What they are in effect saying is: We have the corresponding amount of USD in a bank account; but the Tethers cannot be redeemed for said USD.  This means there is no way to enforce the backing. In any event this is even more of a reason to stay well away from Tether, regardless of whether this TOS term is actually enforceable in a court of law.

Edit: Since I already had dismissed Tether after assuming a promise to pay, I did not bother reading the TOS. What is the point of doing due diligence on something one is not going to get involved with?

[smoothie]

that's quite a bit of tx in the mempool with $12+ fees per tx... 

[JGoRed]

So that they can unjustly enrich themselves at your expense without an excessive fear of civil penalties.  I am frankly surprised that I haven't heard of any actual scammer deaths by mob vigilantism, in crypto, lo these many years.  Wassup with that?  

I really don’t think that will happen any time soon (although I could be wrong). First, the cryptocurrency market is international, meaning your “scammer” could be halfway around the world making it very hard for you to try to get revenge. Second, I really don’t see somebody who wants to get revenge over a failed cryptocurrency having the resources to pack up and track somebody down. Third, is the actual killing part. It’s very hard to kill somebody and get away with it, at least in a 1st world country, not to mention you never know what condition your victim is in (for all you know he could have a gun in his back pocket or a black belt).

[Billy Bunter]

So that they can unjustly enrich themselves at your expense without an excessive fear of civil penalties.  I am frankly surprised that I haven't heard of any actual scammer deaths by mob vigilantism, in crypto, lo these many years.  Wassup with that?  

I really don’t think that will happen any time soon (although I could be wrong). First, the cryptocurrency market is international, meaning your “scammer” could be halfway around the world making it very hard for you to try to get revenge. Second, I really don’t see somebody who wants to get revenge over a failed cryptocurrency having the resources to pack up and track somebody down. Third, is the actual killing part. It’s very hard to kill somebody and get away with it, at least in a 1st world country, not to mention you never know what condition your victim is in (for all you know he could have a gun in his back pocket or a black belt).

I hope you take this advice, aminorex, and think on it. We don't murder scammers, okay?

[sp_skeptic]

you specifically cannot sue them for unjust enrichment. Why would that be in there? Any ideas?

So that they can unjustly enrich themselves at your expense without an excessive fear of civil penalties.

That was intended as a rhetorical question. Did the scenario where they pack up and leave with the money just get more plausible?

[rpietila]

I think it's gonna go UP!

[neilol-real]

I think it's gonna go UP!

Did you already find buyers for the 50k XMR you were looking to sell?

[jeen5]

a lot of competitors.

  Monero    : $45.08   
 Ethereum : $228.88   
 Zcash      : $249.04   
 Waves     : $3.45   

an upward trend has been unable to adapt to. at the moment very cheap. at least $ 100 is supposed to be. this system is one of the projects is more fundamental.

[aminorex]

BTW, you've gotta love those U.K. LLPs.  Non-tax pass-thru for foreign earned income!  

Is that only if the beneficiary is non-dom?  

I believe so. In fact it may require the foreign partner to be resident in a nation playing counterparty to the u.k. in a tax treaty.  I am so totally not qualified to give remotely sound u.k. tax advice.  But everybody should at least be aware of this interesting feature, so I recklessly spam it about.

[aminorex]

We don't murder scammers, okay?

Well...gee...okaaaay, I guess. But is it technically really murder?

[explorer]

We don't murder scammers, okay?

Well...gee...okaaaay, I guess. But is it technically really murder?

I think it's like coyotes and gophers...  Sort of a do what you want policy, to reduce the pest level.

[aminorex]

that's quite a bit of tx in the mempool with $12+ fees per tx... 

I have pretty much given up on btc at this point.  My last xn with "priority" fee designation in mycelium took over 48 hours to confirm, and from all I hear I was a lucky one.

Conclusion: miners are making book on small blocks, and are disincentivized to either segwit/lightning or unlimited until it comes to the brink of collapse.  How long are they willing to play chicken? I don't know.  It may not end until everyone has gone off the cliff, for all I know.

[Chicken76]

1) It has an adaptive blocksize limit with a minimum emission of 0.6 XMR. ...

I think I remember correctly that it was 0.3 XMR, not 0.6.

[mnemonicsoup]

I think it's too early for BTC to decline. Faith in BTC encourages faith in the entire cryptosphere. I also think BTC and Monero profit from each other, if Monero alone was successful it would be much easier for regulators to go against it. BTC is a great store of value (like gold) and Monero is the cash that BTC needs. A symbiotic relationship between these two might prove much more fruitful than one of them declining while the other one rises.

[Johnny Mnemonic]

1) It has an adaptive blocksize limit with a minimum emission of 0.6 XMR. ...

I think I remember correctly that it was 0.3 XMR, not 0.6.

0.3 XMR per minute. Now that block times are 2 minutes, the subsidy is 0.6 XMR.

[DancingbearPH]

xmr has great potential, first bought in at  12$!

[rinus]

Monero Monero Monero ! Got to love it . As this is speculation thread, how big is the chance tot we see 100 this year, 2017?

[novag]

Now there is a silent purchase of Monero.

[Chicken76]

0.3 XMR per minute. Now that block times are 2 minutes, the subsidy is 0.6 XMR.

Ah, forgot about the block time change. Thank you.