[XMR] Monero Speculation

[binaryFate]

While I personally don't like Cryptsy XMR has been at the top of the voting list there for a looooong time.

https://www.cryptsy.com/coinvotes

AFAIK they also got help from the XMR devs to integrate it, so what's up with this?

Going to quote myself here:

I just voted for Monero to be listed on Cryptsy. You are currently in 2nd position with 27,170 votes. 

Unfortunately, I don't think it will do any good. Monero was at the 1st position for a few weeks months ago and was not added.

But thanks for your effort.

Rumours say that cryptsy will get a revamp the coming months and that with this revamp some 2.0 Coins ( non Bitcoin-Clone code ) will be added... so maybe we will see XMR

To add some sources: http://www.polonibox.com/?messageId=2973184

Horus is accounts security manager @ cryptsy -> https://twitter.com/Horusisthesun/

this is good news, thank you for keeping us informed.

I fail to see what's different from before and therefore why is there any good news...
He says literally "soon", and they have been saying "soon" for 6 months.

[dEBRUYNE]

While I personally don't like Cryptsy XMR has been at the top of the voting list there for a looooong time.

https://www.cryptsy.com/coinvotes

AFAIK they also got help from the XMR devs to integrate it, so what's up with this?

Going to quote myself here:

I just voted for Monero to be listed on Cryptsy. You are currently in 2nd position with 27,170 votes. 

Unfortunately, I don't think it will do any good. Monero was at the 1st position for a few weeks months ago and was not added.

But thanks for your effort.

Rumours say that cryptsy will get a revamp the coming months and that with this revamp some 2.0 Coins ( non Bitcoin-Clone code ) will be added... so maybe we will see XMR

To add some sources: http://www.polonibox.com/?messageId=2973184

Horus is accounts security manager @ cryptsy -> https://twitter.com/Horusisthesun/

this is good news, thank you for keeping us informed.

One should keep in mind that they don't have a single (except Ripple & NXT) coin listed with a different codebase than BTC.

[MalMen]

I fail to see what's different from before and therefore why is there any good news...
He says literally "soon", and they have been saying "soon" for 6 months.

I agree with you, i remember this soon for a looong time... anyway, i dont think the volume will explode with crypsty, so i am not in that waiting ship anymore.. i think are things more important to do

[binaryFate]

I fail to see what's different from before and therefore why is there any good news...
He says literally "soon", and they have been saying "soon" for 6 months.

I agree with you, i remember this soon for a looong time... anyway, i dont think the volume will explode with crypsty, so i am not in that waiting ship anymore.. i think are things more important to do

Same for me, I don't care and I think we all shouldn't care about that. It makes us look like cliché shitcoin supporters.

[Bassica]

Soon^tm in crypto is a different timeframe than soon irl.

[s1gs3gv]

Any speculation regarding why XMR isn't participating in the current alts pump/rotation ? LTC is +98% over 30 days, XMR is -8% ?

[dEBRUYNE]

Any speculation regarding why XMR isn't participating in the current alts pump/rotation ? LTC is +98% over 30 days, XMR is -8% ?

I was thinking about this too a couple of days ago, but it seems that most altcoins were either pumped on BTC-E or BTC38 and XMR is not implemented on both. So this could be a reasonable explanation why it wasn't "pumped".

EDIT: In addition, most people just want to ride the wave and pick the most accessible altcoin(s).

[canth]

Any speculation regarding why XMR isn't participating in the current alts pump/rotation ? LTC is +98% over 30 days, XMR is -8% ?

I was thinking about this too a couple of days ago, but it seems that most altcoins were either pumped on BTC-E or BTC38 and XMR is not implemented on both. So this could be a reasonable explanation why it wasn't "pumped".

EDIT: In addition, most people just want to ride the wave and pick the most accessible altcoin(s).

LTC has had tremendous support from Chinese miners/investors since the very beginning. I'm not sure whether XMR has the same sort of ties. This matters since much of the BTC / LTC price increases over the last 2 years have been heavily influenced by Chinese investments.

[s1gs3gv]

Any speculation regarding why XMR isn't participating in the current alts pump/rotation ? LTC is +98% over 30 days, XMR is -8% ?

I was thinking about this too a couple of days ago, but it seems that most altcoins were either pumped on BTC-E or BTC38 and XMR is not implemented on both. So this could be a reasonable explanation why it wasn't "pumped".

EDIT: In addition, most people just want to ride the wave and pick the most accessible altcoin(s).

LTC has had tremendous support from Chinese miners/investors since the very beginning. I'm not sure whether XMR has the same sort of ties. This matters since much of the BTC / LTC price increases over the last 2 years have been heavily influenced by Chinese investments.

This isn't just a LTC effect though. A variety of Alts are affected, with the obvious omission of  DASH & XMR

https://i.imgur.com/RJ55aEo.png

[Quicken]

I wish the Greeks were more aware of Monero. Huge potential market of people looking to get out of the Greek banking system currently.

On the subject of LTC, does it offer anything BTC does not? Scrypt is ASIC-dominated now AFAIK. Are 2.5 minute blocks really considered a significant difference?
Q

[kazuki49]

https://i.imgur.com/RJ55aEo.png

paste this chart again next month... there is a reason lots of bitcoiners did not bothered with altcoins until Monero, of course doubling your money in 30 days is nice but we need to focus on the big picture, also I would feel better promoting Monero to the big exchanges once we have the DB in a tagged version.

[s1gs3gv]

https://i.imgur.com/RJ55aEo.png

paste this chart again next month... there is a reason lots of bitcoiners did not bothered with altcoins until Monero, of course doubling you money in 30 days is nice but we need to focus on the big picture, also I would feel better promoting Monero to the big exchanges once we have the DB in a tagged version.

My intent is not to diss monero. I'm trying to understand what is going on in the crypto-coin market right now.

[celestio]

I wish the Greeks were more aware of Monero. Huge potential market of people looking to get out of the Greek banking system currently.

On the subject of LTC, does it offer anything BTC does not? Scrypt is ASIC-dominated now AFAIK. Are 2.5 minute blocks really considered a significant difference?
Q

2.5 minute blocks just means more confirmations are needed. So no, LTC offers nothing, zero, ziltch, over BTC.

[dEBRUYNE]

https://i.imgur.com/RJ55aEo.png

paste this chart again next month... there is a reason lots of bitcoiners did not bothered with altcoins until Monero, of course doubling you money in 30 days is nice but we need to focus on the big picture, also I would feel better promoting Monero to the big exchanges once we have the DB in a tagged version.

My intent is not to diss monero. I'm trying to understand what is going on in the crypto-coin market right now.

Chinese love to gamble and the altcoins that went up are almost all on BTC38. There are massive pumps going on there occasionally. Neither DASH nor XMR is listed there or on BTC-E. The "fools" will see the soar and just buy in and ride the wave because they think it will soar further (greater fools theory). It's not that hard to understand :p

[mrkavasaki]

bitcoin reminds me like email and monero is like pgp

the majority used the normal email today, almost no one used the pgp

[nakaone]

https://i.imgur.com/RJ55aEo.png

paste this chart again next month... there is a reason lots of bitcoiners did not bothered with altcoins until Monero, of course doubling you money in 30 days is nice but we need to focus on the big picture, also I would feel better promoting Monero to the big exchanges once we have the DB in a tagged version.

My intent is not to diss monero. I'm trying to understand what is going on in the crypto-coin market right now.

1. collect from everyone dumping at low prices
2. crush a non-existent bid side
3. distribute the tokens at a higher price
4. profit

for litecoin it probably needed some deep pockets - but it is all a question of scale

[dnaleor]

I wish the Greeks were more aware of Monero. Huge potential market of people looking to get out of the Greek banking system currently.

On the subject of LTC, does it offer anything BTC does not? Scrypt is ASIC-dominated now AFAIK. Are 2.5 minute blocks really considered a significant difference?
Q

2.5 minute blocks just means more confirmations are needed. So no, LTC offers nothing, zero, ziltch, over BTC.

I would like to be a little more nuaced: 1 LTC confirmation is worth something, and a 2.5 min unconfimred BTC transaction is worth the same as a 30 seconds unconfirmed BTC transaction.
But you are right, security-wise, you need more LTC confirmations, but you don't need 4 times as much as BTC, because transactions have a "compound" security. 4 LTC transactions is worth more than 1 BTC transaction.

But... BTC could easily move to 2.5 minute confirmations (just cut block reward by 4 and cut difficulty by 4)
so I agree, LTC doesn't have any "intrinsic" value in the long run.

[dnaleor]

bitcoin reminds me like email and monero is like pgp

the majority used the normal email today, almost no one used the pgp

hmmm... Bitcoin is NOT like email:

email:
private password => you can receive and send your emails in your email account
public email address => you can send email to this email account


bitcoin:
private key => you can send your bitcoins
public key => you receive the bitcoins and send bitcoins to this address. Aditionally, everybody can see the bitcoins sitting at the address

Bitcoin seems more like a transparent safety deposit box


monero:
private (spend) key => you can receive and send your moneroj in your monero account
private (view) key =>you can see the moneroj in this account
public (view+spend) key => you can send moneroj to this account

so monero is more like email!
And you can even use the private view key for the things that bitcoin can do, but in a more private way

[ArticMine]

Any speculation regarding why XMR isn't participating in the current alts pump/rotation ? LTC is +98% over 30 days, XMR is -8% ?

I was thinking about this too a couple of days ago, but it seems that most altcoins were either pumped on BTC-E or BTC38 and XMR is not implemented on both. So this could be a reasonable explanation why it wasn't "pumped".

EDIT: In addition, most people just want to ride the wave and pick the most accessible altcoin(s).

LTC has had tremendous support from Chinese miners/investors since the very beginning. I'm not sure whether XMR has the same sort of ties. This matters since much of the BTC / LTC price increases over the last 2 years have been heavily influenced by Chinese investments.

This isn't just a LTC effect though. A variety of Alts are affected, with the obvious omission of  DASH & XMR

https://i.imgur.com/RJ55aEo.png

It is the older alts that are moving notably LTC, but also NMC, and PPC. the more recent DOGE has also moved.

[smooth]

I wish the Greeks were more aware of Monero. Huge potential market of people looking to get out of the Greek banking system currently.

On the subject of LTC, does it offer anything BTC does not? Scrypt is ASIC-dominated now AFAIK. Are 2.5 minute blocks really considered a significant difference?
Q

2.5 minute blocks just means more confirmations are needed. So no, LTC offers nothing, zero, ziltch, over BTC.

I would like to be a little more nuaced: 1 LTC confirmation is worth something, and a 2.5 min unconfimred BTC transaction is worth the same as a 30 seconds unconfirmed BTC transaction.
But you are right, security-wise, you need more LTC confirmations, but you don't need 4 times as much as BTC, because transactions have a "compound" security. 4 LTC transactions is worth more than 1 BTC transaction.

But... BTC could easily move to 2.5 minute confirmations (just cut block reward by 4 and cut difficulty by 4)
so I agree, LTC doesn't have any "intrinsic" value in the long run.

It kind of depends what you mean by "worth". Given an oversimplified statistical model with no propagation delay and where everyone (except a specific attacker) is mining honesty, 1 confirmation = 1 confirmation, regardless of time, hash rate, etc.

However, in reality that oversimplified model is false, and the overall hash rate of the network makes a difference as does propagation delay (which both causes "wasted" hash and makes certain attacks easier), the concentration of the hash rate, and the availability of "dark" hash rate. It's hard to say in general how these factors compare across coins except the total hash rate (measured mostly in Watts) where obviously BTC far eclipses everything