[XMR] Monero Speculation

[iCEBREAKER]

I wasn't suggesting the concept of crypto is useless (I wouldn't be here if that were the case), only that current implementations cannot be easily used by even the most desperate of oppressed peoples.

Sure, people in refugee camps don't have smart phones or data plans.  But there is a large middle ground between the utterly complacent and the most desperate.

The NYT article on Argentina illustrates how BTC is making inroads by using in-person exchange to cover the proverbial last mile, thus providing a tool for the people there to use in their fight against financial oppression.

The trend hasn't reached its 100th monkey, but the Argentinian equivalents of our brothers are in the near future increasingly like to use BTC for all the mundane crap fiat used to buy.

When Kirchner's tax thugs begin to catch up and subscribe to Chainalysis, the people will move to Monero and stay one step ahead.   

[GingerAle]

Monero price is what it should be, we need cheap coins to get new people in. The focus should be on getting in new people, not the price at this time.

How many of you have introduced Monero to someone known?

Most of my friends / family think cryptocurrencies aren't real, so.... i need to go to a bitcoin meetup.

I'm hoping that's a joke... text makes it hard to tell sometimes 

Preaching the merits of cryptocurrency at a bitcoin meetup doesn't exactly spread the word.

The merits of Monero at a bitcoin meetup. Someone mentioned trying this out, but in a benign way - just bring up Monero if fungibility / traceability / linkability ever comes up.

[mrkavasaki]

Get ready for the final upcoming monsta dump  

[iCEBREAKER]

Geht ready for the final upcoming monsta dump  

The only monsta is the 400+ BTC bid wall.

Otoh can dump another 100BTC of XMR into it, and it might set us back a few more days.

I thank our monsta dumping overlords in advance for the Cheap Coins^TM.

[smooth]

x, sorry I had to nuke your post going after mrkavasaki. His post didn't add a lot but at least it was an opinion about the market

[ArticMine]

I wasn't suggesting the concept of crypto is useless (I wouldn't be here if that were the case), only that current implementations cannot be easily used by even the most desperate of oppressed peoples.

Sure, people in refugee camps don't have smart phones or data plans.  But there is a large middle ground between the utterly complacent and the most desperate.

The NYT article on Argentina illustrates how BTC is making inroads by using in-person exchange to cover the proverbial last mile, thus providing a tool for the people there to use in their fight against financial oppression.

The trend hasn't reached its 100th monkey, but the Argentinian equivalents of our brothers are in the near future increasingly like to use BTC for all the mundane crap fiat used to buy.

When Kirchner's tax thugs begin to catch up and subscribe to Chainalysis, the people will move to Monero and stay one step ahead.  

One can easily defeat Chainalysis by selling XBT for XMR, even using a regulated exchange, sit on the XMR for a few days then trade a portion of the XMR for XBT using a service such as XMR.TO. In effect one can use XMR to "mix" XBT. The key is to use different XBT wallets for the original and "mixed" XBT.

Edit: I see a very significant chance that XMR will end up complementing rather than replacing XBT, especially since it is way simpler to set up a crypto-currency to crypto-currency exchange than a crypto-currency to fiat exchange.

[Anon136]

I see a very significant chance that XMR will end up complementing rather than replacing XBT, especially since it is way simpler to set up a crypto-currency to crypto-currency exchange than a crypto-currency to fiat exchange.

The only problem here is that if there is that you are looking at it only from the perspective of the spender. To him yes this is a perfect solution. But to the retailer who is being paid in bitcoin, he will be terrified of the prospect of being unwittingly paid in "illegal" bitcoin. As such it makes a great deal of sense for him to want to cut out the middleman of bitcoin and be paid in xmr, which he can then convert to btc himself through shapeshift.io or similar service he trusts more than random customers. But if you think through the logic of that, if other retailers are thinking the same thing he is, than why even convert it into bitcoin? Anywhere he wants to spend it would rather just be paid in xmr.

[ArticMine]

I see a very significant chance that XMR will end up complementing rather than replacing XBT, especially since it is way simpler to set up a crypto-currency to crypto-currency exchange than a crypto-currency to fiat exchange.

The only problem here is that if there is that you are looking at it only from the perspective of the spender. To him yes this is a perfect solution. But to the retailer who is being paid in bitcoin, he will be terrified of the prospect of being unwittingly paid in "illegal" bitcoin. As such it makes a great deal of sense for him to want to cut out the middleman of bitcoin and be paid in xmr, which he can then convert to btc himself through shapeshift.io or similar service he trusts more than random customers. But if you think through the logic of that, if other retailers are thinking the same thing he is, than why even convert it into bitcoin? Anywhere he wants to spend it would rather just be paid in xmr.

Why would the XBT or XMR be "illegal"? Furthermore there are many situations where 1) The transaction is perfectly legal, 2) Privacy is important and 3) the amount is well below any AML / KNC threshold. Here is a good example. http://www.salon.com/2014/04/28/one_womans_attempt_to_hide_her_pregnancy_from_big_data/.

[MoneroMooo]

Why would the XBT or XMR be "illegal"?

I think he just meant paid with a blacklisted/tainted bitcoin output.

[Anon136]

Why would the XBT or XMR be "illegal"? Furthermore there are many situations where 1) The transaction is perfectly legal, 2) Privacy is important and 3) the amount is well below any AML / KNC threshold. Here is a good example. http://www.salon.com/2014/04/28/one_womans_attempt_to_hide_her_pregnancy_from_big_data/.

Ok yea that's possible. But I don't know that people will really care enough to seek out anonymity in situations where it is not deemed "necessary". I thought you were speaking in reference to things like blacklists. That's what i meant by illegal bitcoin (lower case b).

[iCEBREAKER]

One can easily defeat Chainalysis by selling XBT for XMR, even using a regulated exchange, sit on the XMR for a few days then trade a portion of the XMR for XBT using a service such as XMR.TO. In effect one can use XMR to "mix" XBT. The key is to use different XBT wallets for the original and "mixed" XBT.

Edit: I see a very significant chance that XMR will end up complementing rather than replacing XBT, especially since it is way simpler to set up a crypto-currency to crypto-currency exchange than a crypto-currency to fiat exchange.

Cross-chain mixing works for some purposes, but Putin/Kirchner/Obama's tax thugs and lickspittle corporatists will demand to know the origin of your coins.  Which is effectively a whitelisting approach putting the burden of proof on the user to prove their innocence against the presumption of guilt.

We've already seen this happening with CoinBase's intensively invasive 'know your miners' colonoscopy procedures.

Still, I too anticipate XMR enjoying widespread use as a private on- and off-ramp for dark markets, etc. that will keep funds in multi-sig'd BTC internally.

This leads to a bifurcation of BTC into independent pools of white and black coins, with unknown consequences.

[rpietila]

In my experience, the cryptos have very large price swings. 100x up and 10x down is normal.

When faced with these swings, you should consider the following question:

Does the increase/decrease in price cause the Expected Value of the investment to go up/down proportionately more than the extent of the move?

If it does, it makes sense to buy after a move up, and sell after a move down.

If it does not, it makes sense to buy after a move down and sell after a move up.

I believe cryptos are like most other investments, so that the change in price does not cause a larger change in fundamentals.

Therefore, if the only thing that changes is the price, the lower price is a better buying opportunity than the higher price.

[mrkavasaki]

volume seems pretty dead to me. get ready for sub 0.001 coins 

[scryptasicminer]

volume seems pretty dead to me. get ready for sub 0.001 coins 

Don't see any major exchange supporting the coin.

[kenji]

also seems like bytecoin has overtaken monero.
dosen't  look very good guys

[ArticMine]

volume seems pretty dead to me. get ready for sub 0.001 coins 

Very low volume after a very significant drop is actually bullish not bearish.

[cAPSLOCK]

In my experience, the cryptos have very large price swings. 100x up and 10x down is normal.

When faced with these swings, you should consider the following question:

Does the increase/decrease in price cause the Expected Value of the investment to go up/down proportionately more than the extent of the move?

If it does, it makes sense to buy after a move up, and sell after a move down.

If it does not, it makes sense to buy after a move down and sell after a move up.

I believe cryptos are like most other investments, so that the change in price does not cause a larger change in fundamentals.

Therefore, if the only thing that changes is the price, the lower price is a better buying opportunity than the higher price.

Yes.  I always tell myself the swings and the risk are part of the admission price.  There are some small ways to exploit them too though my strategy is fairly conservative.

[cAPSLOCK]

volume seems pretty dead to me. get ready for sub 0.001 coins 

Get ready for the final upcoming monsta dump 

Monero seems more and more like a failed project to me. I am not so sure if i ever will rebuy this coin

see you at sub 0.001

sub .0010 here we come

oh oh dosen't look good
i guess we will see at least sub 0.0010 prices soon

I doubt it will go down to 0.0005 but we could test 0.0009 very very likely

(No Fud)

seems like we are still in a downtrend

how low do you guys think we will go?

The charts are looking indeed really bad. Now i think even numbers at sub 0.0010 are very possible imho

See you guys at 0.002

Sold all my XMR. i will buy back at 0.0020-0.0015

do you guys believe we will drop below 0,002 ?

Seriously.  I know "don't quote the trolls", but what about when it is funny?

You really need to try a different game.  You are very bad at this one.

HA.

Oh and to keep this on topic...  I persoanlly am betting XMR price is building a little base here.  I would be happy to see it consolodate for a while.  I am cautiously buying small amounts.  I do think there is a chance we see more lows as it doesn't take very big dumps at market to move the price.  However that works both ways.

Monero's fundamentals are still strong.

[aerbax]

At any rate, if Monero eventually takes off, no one will be able to say that the coin was too expensive.  IMO, we've had a fair distribution and fair cost for such a long time now.

If you believe in privacy and real cryptography, it would be foolish to not hold at least a little bit of Monero at this point.


Monero is the future of cryptocurrency - available today.

[smooth]

Don't see any major exchange supporting the coin.

Monero is on poloniex, bittrex, bter, and others. Those are all major exchanges.