[XMR] Monero Speculation

[nakaone]

according to bitcoinwisdom the trading volume of the last 30 days of xmr was the second highest, only beaten by ltc.

having a higher trading volume than dash is maybe a little hint

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[smooth]

What I don't understand is my loan is still active at 0.045% while there are cheaper loans right now ? I'd guess the lender would get those cheaper loans automatically like I  did ?

Probably your loan stays active until the term runs out or the position is closed?

[smooth]

One caution

Poloniex aims to reasonably identify each user by cross-checking user data against governmental watch lists such as OFAC, as well as 3rd party identity verification and authentication services. If a user or a user’s transaction is flagged as suspicious through our internal controls, Poloniex will require additional proof of identification from the user and has the right to not permit any trades, deposits, and/or withdrawals until additional and verifiable proof of identity is received and the Compliance Officer has approved the user for use of the Platform.

In other words, if you do business there you are at risk of having your coins held ransom for whatever "additional proof" they want, and also possibly the discretion of their Compliance Officer before giving them back.

What does that mean for services like xmr.to and shapeshift.io, do they have the balls to continue operate?

shapeshift is located in swizerland. they are a registered company with shares, but i do not think they are forced to implement KYC or AML programms soon, since nothing like an MSB rule for crypto companies exists yet. However, US law reaches everywhere sooner or later, take FACTA as an example. Also laws in swizerland regarding foreign money became a lot stricter the past years.
i do not know about xmr.to, but this kind of service could be hosted everywhere, its impossible to control

I meant that their business is to buy and sell XMR on poloniex. What will poloniex think of their business, will it rise suspicious transaction flags?

Eventually, probably yes. KYC rules have trended toward being applied to customers of the customers. But that process has been very slow, over a period of years and there are still many gaps.

[G2M]

Why should the lack of GUI be the problem? Just WHY? Anyone of you thinks people new to bitcoin use the core gui? I think most of them non tech-savy people will use the likes of Electrum or Multibit

Because 90% of the people bitching that there isn't a GUI actually invest in shitcoins on which the QT they think they're referring to is actually based off of.

Erroneously, and rather passive aggressively, they try to pass the argument off as "bitcoin has a core GUI", when the reality is that "my shitcoin has a GUI".

Only they know that won't make a good argument, so rather than letting it go many will just double down.

I'd be very surprised if they even use bitcoin at all for the most part, apart from it being something they buy on coinbase and immediately send to an exchange and trade it for aforementioned shitcoin.

Anyways, the real argument here is that:

"All the altcoins I've used had a GUI"

To which, the obvious answer is - "Your shitty dev didn't fucken code the bitcoin GUI"

So, it's a nonargument save for that 10% that all of them now think they're in.

[americanpegasus]

Why should the lack of GUI be the problem? Just WHY? Anyone of you thinks people new to bitcoin use the core gui? I think most of them non tech-savy people will use the likes of Electrum or Multibit

Because 90% of the people bitching that there isn't a GUI actually invest in shitcoins on which the QT they think they're referring to is actually based off of.

Erroneously, and rather passive aggressively, they try to pass the argument off as "bitcoin has a core GUI", when the reality is that "my shitcoin has a GUI".

Only they know that won't make a good argument, so rather than letting it go many will just double down.

I'd be very surprised if they even use bitcoin at all for the most part, apart from it being something they buy on coinbase and immediately send to an exchange and trade it for aforementioned shitcoin.

Anyways, the real argument here is that:

"All the altcoins I've used had a GUI"

To which, the obvious answer is - "Your shitty dev didn't fucken code the bitcoin GUI"

So, it's a nonargument save for that 10% that all of them now think they're in.

 
 
This is amazing!  Well said. 
 
+/u/pegatipbot 2200 Pegasus

[necrita]

Lot of POS alts are enjoying a pop today. Monero's time will come.

[wedgy2k]

Left Polo. Seems shapeshift is my only option. Don't trust BTER. Bittrex is US based too so it's only a matter of time.
is there a local bitcoins website but for XMR?

https://www.moneroclub.com/offers/

Is a great site, but I'm not sure of the take up on there

[Johnny Mnemonic]

There's a p2p exchange project in development that's supposed to work with Monero (but I can't remember what it's called... anyone?). Perhaps this is good opportunity for our community to get more involved in that endeavor.

[smooth]

Left Polo. Seems shapeshift is my only option. Don't trust BTER. Bittrex is US based too so it's only a matter of time.
is there a local bitcoins website but for XMR?

https://www.moneroclub.com/offers/

Is a great site, but I'm not sure of the take up on there

Yes, please list and use and spread the word. Centralized exchanges, meh. Always been trouble.

[aminorex]

https://www.moneroclub.com/offers/

Yes, please list and use and spread the word. Centralized exchanges, meh. Always been trouble.

Nothing against moneroclub - it's great to have - but, it's not exactly decentralized.

[smooth]

https://www.moneroclub.com/offers/

Yes, please list and use and spread the word. Centralized exchanges, meh. Always been trouble.

Nothing against moneroclub - it's great to have - but, it's not exactly decentralized.

The exchange is. Moneroclub is just a method of meeting people. Use another method if you like. Better yet, use both/many.

[mmortal03]

but they would know how much XMR John has, and where he lives. If the government comes and wants to confiscate it, because they believe john is doing some illegal trade or tax evasion or whatever, this is undeniable proof that john has at the minimum x XMR, and he would have to prove that he did not use them in an illegal way.

Is there no plausible deniability here? Couldn't someone just say that they bought them as an investment but their hard drive crashed, so they no longer have the keys? There are a number of different innocuous examples that might be argued. I'm sure there are better ones than my dog ate my private key.

Can't you do that with bitcoin as well? I just feel that it takes away a main advantage of monero over bitcoin. If monero doesn't work significantly better than bitcoin, obviously it won't go mainstream since bitcoin has much greater network effects.

The difference is that with Monero, it's much more difficult for them to be tracking you ahead of time. They may have some idea of what you're doing, but they won't have all the data on you that they would with Bitcoin, and they would more likely not be as easily able to argue that you did anything different than what you said you did.

[mrkavasaki]

Bought a nice amount of blackcoin with profits from monero
Thanks for the pump

[celestio]

but they would know how much XMR John has, and where he lives. If the government comes and wants to confiscate it, because they believe john is doing some illegal trade or tax evasion or whatever, this is undeniable proof that john has at the minimum x XMR, and he would have to prove that he did not use them in an illegal way.

Is there no plausible deniability here? Couldn't someone just say that they bought them as an investment but their hard drive crashed, so they no longer have the keys? There are a number of different innocuous examples that might be argued. I'm sure there are better ones than my dog ate my private key.

Can't you do that with bitcoin as well? I just feel that it takes away a main advantage of monero over bitcoin. If monero doesn't work significantly better than bitcoin, obviously it won't go mainstream since bitcoin has much greater network effects.

The difference is that with Monero, it's much more difficult for them to be tracking you ahead of time. They may have some idea of what you're doing, but they won't have all the data on you that they would with Bitcoin, and they would more likely not be as easily able to argue that you did anything different than what you said you did.

But, to think about it, there'd be no grounds for the government to even come and try to confiscate anything, because they'd have no way of knowing where your moneroj went or came from, so them "suspecting" you of anything can't happen, as then they'd have to suspect everyone of the same thing. Thank god for privacy.

Such a thing as the government knocking at your door is only possible in coins with transparent blockchains because of the history/trail the coins leave behind.

[solitude]

I'd like to participate in this thread, but im not a fan of moderated threads.  Oh well.

Have a free bump on me though.

[smooth]

I'd like to participate in this thread, but im not a fan of moderated threads.  Oh well.

Have a free bump on me though.

It's probably one of the least moderated of all of the moderated threads. I've deleted maybe 10 posts total in a year, and explicitly explained the reason for every single deletion.

But to each his own. Welcome and goodbye.

[Anon136]

I'd like to participate in this thread, but im not a fan of moderated threads.  Oh well.

Have a free bump on me though.

It's probably one of the least moderated of all of the moderated threads. I've deleted maybe 10 posts total in a year, and explicitly explained the reason for every single deletion.

But to each his own. Welcome and goodbye.

Just go through and look at some of the overtly trollish posts that are still here

[jehst]

How will short selling affect XMR in the short term?

[Anon136]

How will short selling affect XMR in the short term?

People used to be able to go long but not short. Now people can do either. Meaning one would expect there to be more short selling now than before. So it's bearish. Right? Am I missing something? But people also didn't used to be able to go long on margin. So that should be bullish. Maybe it cancels out?

[kazuki49]

I'd like to participate in this thread, but im not a fan of moderated threads.  Oh well.

Have a free bump on me though.

smooth "thick skin" dude rarely moderates this thread, even trolls have a field day around here.