[XMR] Monero Speculation

[Gladimor]

I'll just leave this here one more time...


Nearly none of the miners mining MONERO are dumping.

Do you know why? It is because it is:
1. Unprofitable to dump (Electricity costs > Mining revenue)
2. If free electricity, they could just mine WhirlpoolX algo coins and make 40% more money.
3. People that are mining Monero are mining one of the least profitable coins to mine.

Miner inflation is non-existent. Another +1 for Monero.

[TrueCryptonaire]

I'll just leave this here one more time...


Nearly none of the miners mining MONERO are dumping.

Do you know why? It is because it is:
1. Unprofitable to dump (Electricity costs > Mining revenue)
2. If free electricity, they could just mine WhirlpoolX algo coins and make 40% more money.
3. People that are mining Monero are mining one of the least profitable coins to mine.

Miner inflation is non-existent. Another +1 for Monero.

This doesn't make any sense.
Why are someone bothering to mine at loss?
My advice for any miner mining Monero at loss is to find a coin they can mine with profit, dump that coin and buy Monero instead. This strategy brings more Moneros for this particular miner.

[dEBRUYNE]

I'll just leave this here one more time...


Nearly none of the miners mining MONERO are dumping.

Do you know why? It is because it is:
1. Unprofitable to dump (Electricity costs > Mining revenue)
2. If free electricity, they could just mine WhirlpoolX algo coins and make 40% more money.
3. People that are mining Monero are mining one of the least profitable coins to mine.

Miner inflation is non-existent. Another +1 for Monero.

This doesn't make any sense.
Why are someone bothering to mine at loss?
My advice for any miner mining Monero at loss is to find a coin they can mine with profit, dump that coin and buy Monero instead. This strategy brings more Moneros for this particular miner.

Probably because they believe in the future of Monero (and thus a higher price), it's basically the same many Bitcoin miners did in the past and even currently.

[TrueCryptonaire]

I'll just leave this here one more time...


Nearly none of the miners mining MONERO are dumping.

Do you know why? It is because it is:
1. Unprofitable to dump (Electricity costs > Mining revenue)
2. If free electricity, they could just mine WhirlpoolX algo coins and make 40% more money.
3. People that are mining Monero are mining one of the least profitable coins to mine.

Miner inflation is non-existent. Another +1 for Monero.

This doesn't make any sense.
Why are someone bothering to mine at loss?
My advice for any miner mining Monero at loss is to find a coin they can mine with profit, dump that coin and buy Monero instead. This strategy brings more Moneros for this particular miner.

Maybe because they believe in the future of Monero (and thus a higher price), it's basically the same many Bitcoin miners did in the past and even currently.

But that doesn't make any sense.
Still, if you believe in the coin but mining is done at loss, then mine more profitable coins that you can convert into a coin you believe in. You end up getting more coins that you believe in than by mining it.

[smooth]

I'll just leave this here one more time...


Nearly none of the miners mining MONERO are dumping.

Do you know why? It is because it is:
1. Unprofitable to dump (Electricity costs > Mining revenue)
2. If free electricity, they could just mine WhirlpoolX algo coins and make 40% more money.
3. People that are mining Monero are mining one of the least profitable coins to mine.

Miner inflation is non-existent. Another +1 for Monero.

This doesn't make any sense.
Why are someone bothering to mine at loss?
My advice for any miner mining Monero at loss is to find a coin they can mine with profit, dump that coin and buy Monero instead. This strategy brings more Moneros for this particular miner.

Maybe because they believe in the future of Monero (and thus a higher price), it's basically the same many Bitcoin miners did in the past and even currently.

But that doesn't make any sense.
Still, if you believe in the coin but mining is done at loss, then mine more profitable coins that you can convert into a coin you believe in. You end up getting more coins that you believe in than by mining it.

A lot of the supposedly more profitable coins are small in size and subject to a lot of churn. If you want to minimize your time investment it may not be worth it to keep up with hot profitable coins to mine and just stick with one or a small number.

But really I don't know who is mining at a loss or why. I've mined over the years and when it turned into a loss and I didn't feel like putting the effort into finding something else to mine I just turned the miners off waited it out or sold the equipment. But to each his own. Some people have fun with it and don't treat it as being strictly bottom line oriented.

[TrueCryptonaire]

If it dumps briefly as low as 0.0016 I will support the price. I have some coins in storage waiting from the heavenly rain.
I think there is not real dumping at 4 usd.
I do not recommend selling any coins before there is massive adaption from noobs that needs coins. We are holding coins for them so when they enter to the markets, I am ready to sell 10-20 xmr to them.  

That's some strong bullish signal right there, TrueCryptonaire gave up waiting XMR fall into his arms at 0.0005    

After all we were pretty close - sub 0.001.
If it had touched 0.0005 I would have scooped up some nice number of coins right there.
Meanwhile I bought silently on the way down. It was crazy and I felt pretty bad so I did not buy any significiant number of coins at each price point.
Nobody seemed to be interested in Monero and it was close to graveyard. I remember reading Warz desperate comments on Polo trollbox while the price kept dropping like a falling knife.

I was also trying to do my best to fear mongering - I wanted so badly the coin to drop to 0.0005. I guess I failed my mission.   

[TrueCryptonaire]

I'll just leave this here one more time...


Nearly none of the miners mining MONERO are dumping.

Do you know why? It is because it is:
1. Unprofitable to dump (Electricity costs > Mining revenue)
2. If free electricity, they could just mine WhirlpoolX algo coins and make 40% more money.
3. People that are mining Monero are mining one of the least profitable coins to mine.

Miner inflation is non-existent. Another +1 for Monero.

This doesn't make any sense.
Why are someone bothering to mine at loss?
My advice for any miner mining Monero at loss is to find a coin they can mine with profit, dump that coin and buy Monero instead. This strategy brings more Moneros for this particular miner.

Maybe because they believe in the future of Monero (and thus a higher price), it's basically the same many Bitcoin miners did in the past and even currently.

But that doesn't make any sense.
Still, if you believe in the coin but mining is done at loss, then mine more profitable coins that you can convert into a coin you believe in. You end up getting more coins that you believe in than by mining it.

A lot of the supposedly more profitable coins are small in size and subject to a lot of churn. If you want to minimize your time investment it may not be worth it to keep up with hot profitable coins to mine and just stick with one or a small number.

But really I don't know who is mining at a loss or why. I've mined over the years and when it turned into a loss and I didn't feel like putting the effort into finding something else to mine I just turned the miners off and sold the and waited or sold the equipment. But to each his own. Some people have fun with it and don't treat it as being strictly bottom line oriented.

Mining should adjust to the price fluctuation so that it is at least break even thing to do.

Is it true that Monero is mined by botnets mainly?
For me it is irrelevant who is miner - I am not mining, I am buying it with hard currency so it doesn't play any role to whom I pay for my coins.

[generalizethis]

If it dumps briefly as low as 0.0016 I will support the price. I have some coins in storage waiting from the heavenly rain.
I think there is not real dumping at 4 usd.
I do not recommend selling any coins before there is massive adaption from noobs that needs coins. We are holding coins for them so when they enter to the markets, I am ready to sell 10-20 xmr to them.  

That's some strong bullish signal right there, TrueCryptonaire gave up waiting XMR fall into his arms at 0.0005    

After all we were pretty close - sub 0.001.
If it had touched 0.0005 I would have scooped up some nice number of coins right there.
Meanwhile I bought silently on the way down. It was crazy and I felt pretty bad so I did not buy any significiant number of coins at each price point.
Nobody seemed to be interested in Monero and it was close to graveyard. I remember reading Warz desperate comments on Polo trollbox while the price kept dropping like a falling knife.

I was also trying to do my best to fear mongering - I wanted so badly the coin to drop to 0.0005. I guess I failed my mission.    

I remember some of the "don't catch a falling knife" posts (there were a few, don't remember who were the posters) but i made sure to adjust my buying to MORE with every post. I think I posted, "learn to juggle" around .001 and got slammed by the fear patrol.  

*

The 0.001 lever is broke. New low levels has to be discovered.
I invested 0.12 BTC @ 0.0012 but for now is was not a good choice.
Hopefully is was just a spike below 0.001 but the presure is to high I afraid.
Maybe I buy extra @ 0.0005?

For now strategy is holding and see where XMR hits the floor.
Never try to catch falling knives.

"If you can't catch falling knives, you'll never make it as a juggler."  --juggler.

Stupid, misquoted myself--oh well.

[TrueCryptonaire]

If it dumps briefly as low as 0.0016 I will support the price. I have some coins in storage waiting from the heavenly rain.
I think there is not real dumping at 4 usd.
I do not recommend selling any coins before there is massive adaption from noobs that needs coins. We are holding coins for them so when they enter to the markets, I am ready to sell 10-20 xmr to them.  

That's some strong bullish signal right there, TrueCryptonaire gave up waiting XMR fall into his arms at 0.0005    

After all we were pretty close - sub 0.001.
If it had touched 0.0005 I would have scooped up some nice number of coins right there.
Meanwhile I bought silently on the way down. It was crazy and I felt pretty bad so I did not buy any significiant number of coins at each price point.
Nobody seemed to be interested in Monero and it was close to graveyard. I remember reading Warz desperate comments on Polo trollbox while the price kept dropping like a falling knife.

I was also trying to do my best to fear mongering - I wanted so badly the coin to drop to 0.0005. I guess I failed my mission.    

I remember some of the "don't catch a falling knife" posts (there were a few, don't remember who were the posters) but i made sure to adjust my buying to MORE with every post. I think I posted, "learn to juggle" around .001 and got slammed by the fear patrol.  

Obviously it is not nice to have competition, therefore I had to warn others. LOL  
People who are fear mongering most likely has their own best interest. They want to buy it low.
Same thing applies to bitcoin speculation forums. You can easily see when to buy coins just when the number of FUD is the most highest point.

The pain is at its maximum level at the very bottom, always.

[smooth]

Is it true that Monero is mined by botnets mainly?
For me it is irrelevant who is miner - I am not mining, I am buying it with hard currency so it doesn't play any role to whom I pay for my coins.

Fairly hard to say. I think it is a significant factor in mining, as are cloud computing scammers (e.g. buying time without viable payment credentials). The cloud vendors are being dumb, but it seems they continue to allow it, so that's their problem.

As long as people are mining to make money (or explicitly mining to help the coin at at a loss), whether that's botnets, cloud cheaters, or whatever, it all makes the coin stronger, so I entirely agree with you it doesn't matter. The only miners who hurt are those who are motivated by attacking rather than profit, or are so centralized they could be exploited by an attacker (large pools come to mind).

[Gladimor]

For those of you that think that mining at a "loss" is stupid, most of the people mining XMR are doing so in speculation that Monero will be more valuable in the future. They technically are not mining at a loss, until they sell at current prices.

[smooth]

For those of you that think that mining at a "loss" is stupid, most of the people mining XMR are doing so in speculation that Monero will be more valuable in the future. They technically are not mining at a loss, until they sell at current prices.

I never said it was stupid, just that its different from what I have done. People have their own motivations to do things, all fine with me.

[Gladimor]

For those of you that think that mining at a "loss" is stupid, most of the people mining XMR are doing so in speculation that Monero will be more valuable in the future. They technically are not mining at a loss, until they sell at current prices.

I never said it was stupid, just that its different from what I have done. People have their own motivations to do things, all fine with me.

I was indirectly responding to TrueCryptonaire.

[othe]

The mining discussion is absurd, there is no other coin except DRK that people can mine with gpu's and that provides enough liquidty to sell.

And people mine at a loss, because they already have the hardware to do it, its like a credit.

[futureofbitcoin]

For those of you that think that mining at a "loss" is stupid, most of the people mining XMR are doing so in speculation that Monero will be more valuable in the future. They technically are not mining at a loss, until they sell at current prices.

Well, if they could buy the coins without mining for a cheaper price then it is stupid from an economics perspective. I mean you have to upkeep the machines and stuff, it's a lot more work than just buying coins. So if mining doesn't produce a profit, then they probably should have another motive other than money.

[Gladimor]

For those of you that think that mining at a "loss" is stupid, most of the people mining XMR are doing so in speculation that Monero will be more valuable in the future. They technically are not mining at a loss, until they sell at current prices.

Well, if they could buy the coins without mining for a cheaper price then it is stupid from an economics perspective. I mean you have to upkeep the machines and stuff, it's a lot more work than just buying coins. So if mining doesn't produce a profit, then they probably should have another motive other than money.

Most of the people mining XMR- that I have met- have said that they mined XMR for "fun".

[smooth]

For those of you that think that mining at a "loss" is stupid, most of the people mining XMR are doing so in speculation that Monero will be more valuable in the future. They technically are not mining at a loss, until they sell at current prices.

Well, if they could buy the coins without mining for a cheaper price then it is stupid from an economics perspective. I mean you have to upkeep the machines and stuff, it's a lot more work than just buying coins. So if mining doesn't produce a profit, then they probably should have another motive other than money.

It's not necessarily true it is less work to buy coins. It is hard for many people to get btc and nearly impossible to buy XMR without btc.

[xxxgoodgirls]

http://news.diginomics.com/evolution-marketplace-collapse-violates-bitcoin-fungibility/

XMR has been nominated!

[Gladimor]

Monero- Secure. Private. Untraceable.

[opennux]

For those of you that think that mining at a "loss" is stupid, most of the people mining XMR are doing so in speculation that Monero will be more valuable in the future. They technically are not mining at a loss, until they sell at current prices.

Well, if they could buy the coins without mining for a cheaper price then it is stupid from an economics perspective. I mean you have to upkeep the machines and stuff, it's a lot more work than just buying coins. So if mining doesn't produce a profit, then they probably should have another motive other than money.

Most of the people mining XMR- that I have met- have said that they mined XMR for "fun".

Not everyone has easy access to the banking system or a market price exchange. Hence it can be hard to buy BTC (at market prices) and therefore XMR (at market prices).

That's also disregarding sunk costs, and widely varying electricity costs around the world. Why'd wouldn't you mine them if you're not paying for the electricity, and you want to support the tech OR see that it makes sense to mine a private coin if your mining is shady (using uni/corporate/school/etc. hardware).