[XMR] Monero Speculation

[5thangel]

Rumours XMR could be soon on Bithumb. Pretty large korean exchange with 100 million USD 24h volume.

I hope you are right and it's not just s Rumours

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[tokeweed]

Now the recent XMR spike seems more than related to the btc-e case. Some unarrested admin of btc-e has entered big time.

You really think so?  Wouldn't that make Monero a target by the US effing government?  I think it's a bad idea to be a target this early in the game.  I mean XMR hasn't established itself like Bitcoin has.

You've got a point there

"For bitcoin to make it, it needs to be banned by a few governments and critiqued by policy makers. Otherwise it will fade." -Nassim Nicholas Taleb..

just swap bitcoin for Monero

Hah!  I wonder what his thought process is behind that reasoning.  If you would be so nice to explain or copy/paste urls that would be nice.  Yes I'm lazy to search but since you brought it up, you have the responsibility to give us more info.  

OK, Guys I'm finally back to double digits! What are the odds I can get to triple digits again before the next spike? Anyone wanna lay some odds? I think it is mighty slim!

Maybe if you win big in monero fantasy football league:
https://bitcointalk.org/index.php?topic=1971415.0;all

Win big in monero fantasy football league:
https://bitcointalk.org/index.php?topic=1971415.0;all

Monero fantasy football league:
https://bitcointalk.org/index.php?topic=1971415.0;all

Sorry for spam, we need a few more players in next couple of weeks.

Almost got excited til I realized it's hand egg (no offense).    I thought it was gonna be for the EPL.

[explorer]

Hash rate and active nodes at all time highs.  Block reward dropping every 2 minutes or so. I think the price has to be about done with dropping. 

[denk0815]

Rumours XMR could be soon on Bithumb. Pretty large korean exchange with 100 million USD 24h volume.

Who is talking about this ?
Would be nice if it`s true ...

[cryptimus prime]

Rumours XMR could be soon on Bithumb. Pretty large korean exchange with 100 million USD 24h volume.

I hope you are right and it's not just s Rumours

The XMR icon is already implemented in the HTML of the Bithumb webpage.

https://twitter.com/dagibugatti/status/890520436131475460

[Billy Bunter]

This is a comment from a recent reddit/monero thread that I think is well worth repeating here:

In the "nuclear war" between governments and blockchains, only the cockroach protocols will survive. -Ari Paul
For bitcoin to make it, it needs to be banned by a few governments and critiqued by policy makers. Otherwise it will fade. -Nassim Nicholas Taleb


Right now, the price of most cryptocurrencies is primarily speculation on their future potential. This is reflected in the extreme price volatility as investor confidence surges and recedes.
The only way POW blockchains can justify their very expensive existence is censorship resistant value transfer and sound digital money in highly hostile environments. In all other scenarios, Paypal's blockchain database works faster, cheaper, and is infinitely scalable. This is why both Taleb and Ari correctly identified that a cryptocurrency only offers lasting value if it can survive in extremely hostile environments.
"In the short term the market is a popularity contest; in the long term it is a weighing machine." - Warren Buffett
Right now, blockchains are in the popularity contest phase, where any scam can attract speculation. On a long enough timeline, only censorship resistant currencies that function as sound money will survive. It's possible that no POW blockchain is up to this task. With Ross Ulbricht in a cage for the rest of his life, and Alexandre Cazes dead in a Thai prison, how do you think Evan Duffield, Zooko Wilcox, and Vitalik Buterin will hold up when the pressure is applied?
Do you think a centralized bitcoin fork with mining, development, promotion and exchange controlled by a cartel in china is going to be the cockroach protocol that wins this war?
Eventually, fundamentals will come home to roost, and the weighting machine will determine the winner of the blockchain war... if there are any survivors.

Monero - The Cockroach Protocol.

[sp_skeptic]

Hash rate and active nodes at all time highs.  Block reward dropping every 2 minutes or so. I think the price has to be about done with dropping. 

Don't you mean the difficulty is increasing? The block reward drops at a very slow and predictable rate that does not depend on the hash rate - I think.

[Febo]

Hash rate and active nodes at all time highs.  Block reward dropping every 2 minutes or so. I think the price has to be about done with dropping. 

Don't you mean the difficulty is increasing? The block reward drops at a very slow and predictable rate that does not depend on the hash rate - I think.

You are right, but I am sure he meant miners reward for one hash contributed.
But Monero price in $ is not that much different then was in last 3 months $22-$55. Miners to pay electricity so they care about USD and not BTC price.

[explorer]

Hash rate and active nodes at all time highs.  Block reward dropping every 2 minutes or so. I think the price has to be about done with dropping. 

Don't you mean the difficulty is increasing? The block reward drops at a very slow and predictable rate that does not depend on the hash rate - I think.

You are right, but I am sure he meant miners reward for one hash contributed.
But Monero price in $ is not that much different then was in last 3 months $22-$55. Miners to pay electricity so they care about USD and not BTC price.

Block reward decreases predictably (every block), and difficulty is increasing at the same time, however less predictably.  Pretty much every metric indicates growth.

[smooth]

Hash rate increases due to Moore's law and similar effects. It can't be directly compared over different time periods.

[Hueristic]

Kraken

We have posted an important announcement on our blog about the “Bitcoin Cash” (BCH) hard fork that will happen on August 1. Everyone should read the complete post, but here are a few highlights from the post:

    Kraken plans to support BCH on our platform for funding and trading in the pairs BCH/XBT, BCH/USD, BCH/EUR
    Clients holding Bitcoin (XBT) balances at the time of the fork will be credited with an equal amount of Bitcoin Cash (BCH) - e.g. 1 XBT will result in 1 XBT + 1 BCH
    Clients borrowing Bitcoin (XBT) for margin positions at the time of the fork will be debited an equal amount of Bitcoin Cash (BCH) - e.g. if you borrow 1 XBT you must pay back 1 XBT + 1 BCH
    Margin traders should read the blog post carefully to understand the added risk and how margin trading will work across the fork
    The BCH fork is planned for 12:20 pm UTC on August 1
    Bitcoin (XBT) funding will be halted at 11 am UTC and resumed sometime after the fork when it is safe to do so
    Trading will continue across the fork, but we may need to halt trading briefly around the time of the fork so we can adjust balances and add pairs

Dear Coinbase Customer,

We wanted to provide an update on proposed changes to the Bitcoin network and what that means for bitcoin stored on Coinbase. You can read more about what a digital currency fork is https://blog.coinbase.com/what-is-a-bitcoin-fork-cba07fe73ef1.

Our first priority is the safety of customer funds. In the event of a fork, customer fiat currency (USD, EUR and GBP) and digital currencies (bitcoin, ether and litecoin) are safe.

On August 1st, 2017 there is a proposal to make changes to the bitcoin software. This proposal, known as Bitcoin Cash, is likely to create a fork in the Bitcoin network. This means that after August 1st, 2017 there are likely to be two versions of the Bitcoin blockchain and two separate digital currencies.

In the event of two separate blockchains after August 1, 2017 we will only support one version. We have no plans to support the Bitcoin Cash fork. We have made this decision because it is hard to predict how long the alternative version of bitcoin will survive and if Bitcoin Cash will have future market value.

This means if there are two separate digital currencies – bitcoin (BTC) and bitcoin cash (BCC) – customers with Bitcoin stored on Coinbase will only have access to the current version of bitcoin we support (BTC). Customers will not have access to, or be able to withdraw, bitcoin cash (BCC).

Customers who wish to access both bitcoin (BTC) and bitcoin cash (BCC) need to withdraw bitcoin stored on Coinbase before 11.59 pm PT July 31, 2017. If you do not wish to access bitcoin cash (BCC) then no action is required.

We plan to temporarily suspend bitcoin buy / sells, deposits and withdrawals on August 1, 2017 as the fork is likely to cause disruption to the bitcoin network. This means your funds will be safe but you will be unable to access your bitcoin (BTC) for a short period of time.

We will keep you updated on this event through our blog, status page and Twitter.

Our plans to handle potential BTC network disruptions

There are a number of proposals for technical changes to Bitcoin that may take effect in the coming weeks, so we are taking this opportunity to communicate our plans for managing any resulting network disruption. We take no position on the desirability of any particular proposal nor do we have a stake in any outcome. Our primary concern is protecting our users and their tokens.

As we have done in the past when faced with similar circumstances (1), any decision we make will be with the security of users' tokens in mind. We will be disabling deposits and withdrawals of Bitcoin (and all BTC related tokens) any time we deem necessary to ensure that all tokens stored on Poloniex remain safe. The length of any possible downtime is unknown as this is highly dependent on network stability. Our objective will be to bring the wallet back online and enable deposits and withdrawals as soon as we believe it is safe to do so. Trading will be unaffected during these periods.

At this time, we cannot commit to supporting any specific blockchain that may emerge if there is a blockchain split. Even if two viable blockchains emerge, we may or may not support both and will make such a decision only after we are satisfied that we can safely support either blockchain in an enterprise environment. If we decide to support and make available derivative blockchain tokens after a blockchain split, note that if you have your tokens on loan at the time of a split, we cannot distribute the derivative tokens to you, the lender, as you would not possess them. Such loaned tokens can, and often do, leave the platform. (2)

If you don't want to leave the decision of which Bitcoin tokens to support (or recognize as valid) to a 3rd party, you should not keep your tokens on any 3rd party platform. We encourage you to follow our Twitter and Notices board for updates.

- The Poloniex Team

[amaral1977]

If you don't want to leave the decision of which Bitcoin tokens to support (or recognize as valid) to a 3rd party, you should not keep your tokens on any 3rd party platform. We encourage you to follow our Twitter and Notices board for updates.

- The Poloniex Team[/quote]
[/quote]

Just sent them a ticket asking how am i supposed to do this if the withdrawal is pending for 7 days....

[Hueristic]

If you don't want to leave the decision of which Bitcoin tokens to support (or recognize as valid) to a 3rd party, you should not keep your tokens on any 3rd party platform. We encourage you to follow our Twitter and Notices board for updates.

- The Poloniex Team

Just sent them a ticket asking how am i supposed to do this if the withdrawal is pending for 7 days....

Great Question! Although I've never had a withdrawal pending problem I'm sure if I ever did any heavy numbers I would see it.

[SolarStorm]

If people cannot cash out BTC and they need cash, the other possibility is to buy XMR and change that to cash.  In that perspective this is bullish on XMR.

[Hueristic]

If people cannot cash out BTC and they need cash, the other possibility is to buy XMR and change that to cash.  In that perspective this is bullish on XMR.

ALL my BTC is in XMR except the amount currently awaiting confirmation on polo.

[ArticMine]

Hash rate increases due to Moore's law and similar effects. It can't be directly compared over different time periods.

Yes Moore's law is part of the reason. The AMD Radeon RX 580 Video cards are extremely difficult to find because they are used for mining. Monero and Ethereum. Also if Ethereum drops in terms of Monero then this alone can cause an increase in the Monero hash rate since Ethereum has much greater market cap.

[tokeweed]

So AlphaBay, Hansa, Bitmixer and now Btc-e. How could XMR price not rise? This is beyond bullish.

Price trends don't happen overnight.  Sometimes it takes months before the market finally moves even if the sentiment behind whatever is traded is overall good. I see it as a good opportunity to accumulate more XMR really.  I gave up ETC and might slowly give up LTC too, leaving me with BTC and XMR.

[aikklond]

So AlphaBay, Hansa, Bitmixer and now Btc-e. How could XMR price not rise? This is beyond bullish.

Price trends don't happen overnight.  Sometimes it takes months before the market finally moves even if the sentiment behind whatever is traded is overall good. I see it as a good opportunity to accumulate more XMR really.  I gave up ETC and might slowly give up LTC too, leaving me with BTC and XMR.

at this price I will purchase me. the price is very low and stable.

I think you will see that new heights will be from 1 August. I hope I'm wrong. volumetric but the price seems good as compared to its competitors. 

[smooth]

Daily standard deviation of poloniex USDT pairs since January 1, 2017

BTC 4.70%
XMR 7.58%
ZEC 7.82%
ETH 7.97%
DASH 8.09%
REP 8.16%
ETC 8.53%
LTC 8.73%
NXT 10.39%
STR 12.75%
XRP 13.74%

[Billy Bunter]

Daily standard deviation of poloniex USDT pairs since January 1, 2017

BTC 4.70%
XMR 7.58%
ZEC 7.82%
ETH 7.97%
DASH 8.09%
REP 8.16%
ETC 8.53%
LTC 8.73%
NXT 10.39%
STR 12.75%
XRP 13.74%

Can you explain the implications of this?