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Author Topic: [XMR] Monero Speculation  (Read 3176540 times)
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Febo
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January 25, 2019, 02:58:51 PM
Last edit: January 25, 2019, 03:21:39 PM by Febo
 #40321

What do you guys think of the slow accumulation of gold by non-US central banks? It seems that they believe (as do many of us) that the dollar’s reserve currency role is unsustainable and that gold will return to its former role as sound high-powered money. I’ve thought that in light of Bitcoin and Monero the central bankers were betting on the wrong horse. Is it possible that it is we not them who are out of touch? What is most likely, a return to the gold standard, adoption of a cryptocurrency standard, or coexistence of both standards?

To expect right now for central banks to start buying Bitcoin would be a bit to optimistic. They should be and are most conservative investors. They are aware that era of USD as world reserve currency standard is ending so they have to diversify and be as least dependent to it as possible. Safest way is through Gold. CNY was designated for new reserve currency, but brings more risks then Gold. Bitcoin or Monero brings a lot lot lot more risks. Central banks try to secure existing wealth and not risk to make more profit.  Over time Bitcoin and Monero will be more acceptable. Upcoming economic crisis will help drastically to that mental switch. In next 10 or even 20 years crypto, gold and fiat will coexist. None of them will vanish as many speculate.

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rinus
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January 26, 2019, 02:20:46 PM
 #40322

So we still believe in another pump? It still sucks I did not sell a bit at last ath. Feel so stupid! Loosing faith in another pump, people now know what bitcoin is but they don’t care
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January 26, 2019, 05:09:53 PM
 #40323

So we still believe in another pump? It still sucks I did not sell a bit at last ath. Feel so stupid! Loosing faith in another pump, people now know what bitcoin is but they don’t care

Who are these "people" and how are you reading their minds? Also not sure you have the right thread given this is Monero Spec.

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January 26, 2019, 05:49:27 PM
Last edit: January 27, 2019, 01:39:31 AM by Febo
 #40324

So we still believe in another pump?

No pump. But bear market of this bitcoin cycle ended or is ending. So at end of the year new growth should start. So none should worry if they had not sold at ATH.  Also when suddenly privacy coins matters again. When something happens and all crypto reflectors will be on Monero again. Then price will decouple from BTC again and Monero will make a leg up. This cant be predicted as we can predict Bitcoins cycle that base on halvening. But it happened in past and it will happen again. and it will happen when we will least expect it.

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January 26, 2019, 08:37:20 PM
 #40325

Growth of good coins is expected, monero is the top privacy coin right now so we can easily expect gains. The amount of gains is the question as it will still be in competition with dash which just got updated, but i still expect monero to come out on top

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January 27, 2019, 12:52:09 PM
 #40326

^  Dash?  Is Dash still in competition with XMR?  Can it really technically compete with XMR?  I think it accepted it can't compete vs XMR the day it dropped the Darkcoin name.

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January 27, 2019, 03:18:00 PM
 #40327

^  Dash?  Is Dash still in competition with XMR?  Can it really technically compete with XMR?  I think it accepted it can't compete vs XMR the day it dropped the Darkcoin name.

W0W, just checked it out and they have managed to keep it from complete collapse.
I'm quite surprised it still exists at all.

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January 27, 2019, 03:32:57 PM
 #40328

W0W, just checked it out and they have managed to keep it from complete collapse.
I'm quite surprised it still exists at all.
They trying hard.
https://www.reddit.com/r/CryptoCurrency/comments/aka5kx/scam_and_embezzlement_from_dash_dao_venezuela/

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January 27, 2019, 03:50:42 PM
 #40329

^  Dash?  Is Dash still in competition with XMR?  Can it really technically compete with XMR?  I think it accepted it can't compete vs XMR the day it dropped the Darkcoin name.

W0W, just checked it out and they have managed to keep it from complete collapse.
I'm quite surprised it still exists at all.

I would have bet a lot of money that Duffield would have been the SEC's CryptoScam posterboy by now. Probably why I avoid prop bets--life is mostly curve balls.

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January 27, 2019, 08:18:54 PM
 #40330

The consensus seems to be that Monero is a little better in terms of privacy, but Grin is pretty good. Grin is limited to 10-20 TPS, tops. Monero is theoretically capable of 1,700 TPS. Grin has amazing scaling in terms of blockchain size, but that's not very important IMO.

Mind expanding on the bolded?  As this is the bit that seems to be the hardest criticism of Monero.  Are you thinking layer 2 is the answer?  Similar to BTC?  Moores law?  Etc?

Storage is cheap. And yes, Moore's law will ensure that storage capacity keeps increasing and stays cheap.

I believe an elegant solution to scaling TPS is much more important, at least for now.
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January 28, 2019, 06:26:37 AM
 #40331

^  Dash?  Is Dash still in competition with XMR?  Can it really technically compete with XMR?  I think it accepted it can't compete vs XMR the day it dropped the Darkcoin name.

W0W, just checked it out and they have managed to keep it from complete collapse.
I'm quite surprised it still exists at all.

I would have bet a lot of money that Duffield would have been the SEC's CryptoScam posterboy by now. Probably why I avoid prop bets--life is mostly curve balls.

I hear you on this, there is not a more cut and dry case for a well known coin.
Thats for sure.

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January 28, 2019, 10:47:30 AM
 #40332

Hi guys! Although I'm lurking this forum since late 2016 this is my first post here.
I was mining Monero till recent advent of ASIC/FPGA on network - are there any news/rumors regarding Monero dev's reaction on that?
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January 28, 2019, 12:44:49 PM
 #40333

https://twitter.com/loomdart/status/1089649413226745857

"Some cool statistics
$BTC daily emission=$6.5m yday
$ETH daily emission=$1.9m yday
$GRIN emission at $14=$1.2m a day
$ZEC daily emission=$370k yday
$BEAM emission at $2.45=$350k a day
$DASH daily emission=$130k yday
$XMR daily emission=$105k yday
$DOGE daily emission=$28k yday"


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Monero
"The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." 
David Chaum 1996
"Fungibility provides privacy as a side effect."  Adam Back 2014
Buy and sell XMR near you
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Buy XMR with fiat
Is Dash a scam?
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January 28, 2019, 03:14:08 PM
 #40334

^  Dash?  Is Dash still in competition with XMR?  Can it really technically compete with XMR?  I think it accepted it can't compete vs XMR the day it dropped the Darkcoin name.

W0W, just checked it out and they have managed to keep it from complete collapse.
I'm quite surprised it still exists at all.

I would have bet a lot of money that Duffield would have been the SEC's CryptoScam posterboy by now. Probably why I avoid prop bets--life is mostly curve balls.

I hear you on this, there is not a more cut and dry case for a well known coin.
Thats for sure.

Are you talking about Dash's instamine?  How would the SEC go after Duffield with that tho?  It's isn't like he issued unlicensed securities or anything.

And the (evil) genius in his master node idea is if he already planned it right from the very beginning when he was instamining Dash.  Omfg brilliant!

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January 28, 2019, 03:45:46 PM
 #40335

^  Dash?  Is Dash still in competition with XMR?  Can it really technically compete with XMR?  I think it accepted it can't compete vs XMR the day it dropped the Darkcoin name.

W0W, just checked it out and they have managed to keep it from complete collapse.
I'm quite surprised it still exists at all.

I would have bet a lot of money that Duffield would have been the SEC's CryptoScam posterboy by now. Probably why I avoid prop bets--life is mostly curve balls.

I hear you on this, there is not a more cut and dry case for a well known coin.
Thats for sure.

Are you talking about Dash's instamine?  How would the SEC go after Duffield with that tho?  It's isn't like he issued unlicensed securities or anything.

And the (evil) genius in his master node idea is if he already planned it right from the very beginning when he was instamining Dash.  Omfg brilliant!

Early on he was issuing media with potential ROI, so set up the expectation of profit. Not sure how the SEC determines centralization, but letting a cartel based on holdings determine the outcome of votes seems very stock like. Basically the biggest masternode holders act as stewards for everyone invested--whether they want to believe it or not is another story.

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January 28, 2019, 04:37:53 PM
 #40336

Hi guys! Although I'm lurking this forum since late 2016 this is my first post here.
I was mining Monero till recent advent of ASIC/FPGA on network - are there any news/rumors regarding Monero dev's reaction on that?

There was developers meting yesterday. Those are best way to get ahold what developers are doing and planing to do.   I believe about ASIC it was said a lot a year ago. Algo gets tweaked at every protocol upgrade so ASIC miners are waste of resources for those that makes them. I dont believe that would suddenly change at the next upgrade.  Also, Monero hash rate is about same as whole last year. https://bitinfocharts.com/comparison/monero-hashrate.html#1y   From 350M to 600M. Yes it increased a lot in January. But it just replaced what was lost in previous months. When you zoom out you see was no serious increase from last April.

Here are yesterdays dev logs: https://old.reddit.com/r/Monero/comments/akmf5q/logs_of_yesterdays_dev_meeting/



Probably he biggest upgrade of the next protocol upgrade was just merged: https://github.com/monero-project/monero/pull/4843    It will shrink that big chunk ( green line) from January 2017 till October 2018  to  1/3rd its current size.  That should more then halve current Monero blockchain size that needed to be sync for full nodes.



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January 28, 2019, 05:21:32 PM
Merited by infofront (1)
 #40337

I posted a brief Grin (MimbleWimble) versus Monero comparison on Reddit yesterday:

Quote
There are a few aspects on which one can compare Monero and Grin, I'll discuss several of them.

Privacy:

MimbleWimble is essentially Monero minus ring signatures. As a result, an active observer is able to draw a transaction graph and easily trace outputs.

Scaling:

MimbleWimble's scaling is often praised significantly. However, in comparison to a pruned Monero chain it is not significant in my opinion. In Monero, a pruned node has to basically retain the transaction output set plus the key images, whereas in Grin the node essentially prunes automatically and merely retains the unspent transaction output set. Note that, in Monero, an unspent transaction output set does not exist, because an observer cannot reasonably determine which outputs are spent.

Usability:

Grin is interactive, which, in a nutshell, means that both the sender and the recipient have to be online to properly send transaction. As a result, cold storage is, as far as I know, not viable currently.

Lastly, note that Tari, a MimbleWimble implementation, is planned to be added to Monero as side-chain.

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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January 28, 2019, 07:09:02 PM
 #40338

I don't know about you, but I sure would like to have a little aminorex right about now.

You can't win if you don't play. But you can't play if you lose all your chips. First I found bitcoin (BTC). Then I found something better, Monero (XMR). See GetMonero.org
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January 28, 2019, 07:09:20 PM
Merited by vapourminer (1)
 #40339

What do you guys think of the slow accumulation of gold by non-US central banks? It seems that they believe (as do many of us) that the dollar’s reserve currency role is unsustainable and that gold will return to its former role as sound high-powered money. I’ve thought that in light of Bitcoin and Monero the central bankers were betting on the wrong horse. Is it possible that it is we not them who are out of touch? What is most likely, a return to the gold standard, adoption of a cryptocurrency standard, or coexistence of both standards?

It's not just gold that's being accumulated by non US banks, crypto is also starting to get accumulated. You're right on the money when you say that the dollar is on its way out as the reserve currency. The countries moving away from the dollar are all trying to lessen the blow for when that happens. It will be a a big hit for everyone seeing how much of the world is tied to the dollar. Gold seems like the best bet, but no one really knows what will take its place, which is why you're seeing many investments outside of just gold. I like to think that this would be an excellent opportunity for crypto to try to step up to the plate but as of right now, I dont think there is any project that is ready. That said i'm still a big fan of monero and believe in the project.
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January 28, 2019, 11:41:33 PM
 #40340

What do you guys think of the slow accumulation of gold by non-US central banks? It seems that they believe (as do many of us) that the dollar’s reserve currency role is unsustainable and that gold will return to its former role as sound high-powered money. I’ve thought that in light of Bitcoin and Monero the central bankers were betting on the wrong horse. Is it possible that it is we not them who are out of touch? What is most likely, a return to the gold standard, adoption of a cryptocurrency standard, or coexistence of both standards?

It's not just gold that's being accumulated by non US banks, crypto is also starting to get accumulated. You're right on the money when you say that the dollar is on its way out as the reserve currency. The countries moving away from the dollar are all trying to lessen the blow for when that happens. It will be a a big hit for everyone seeing how much of the world is tied to the dollar. Gold seems like the best bet, but no one really knows what will take its place, which is why you're seeing many investments outside of just gold. I like to think that this would be an excellent opportunity for crypto to try to step up to the plate but as of right now, I dont think there is any project that is ready. That said i'm still a big fan of monero and believe in the project.

No country is buying any crypto right now. Best chances is the crypto they get from some busted illegal operations. Specially in countries where court system is slow and takes years and years and years until trials gets finished. Some such countries will get rich not even knowing they did.  

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