[XMR] Monero Speculation

[Eastwind]

it would be clever to roll some of the gains ( 25-50% ) back into XMR in the 0.50 USD neighborhood.

Do you see XMR getting a slingshot effect from the current rally of 1st gen altcoins (LTC/NMC/PPC etc)?

The cost of generating XMR is almost 0 for come server administrators and botnet operators. They will dump at any price.

[DaveyJones]

it would be clever to roll some of the gains ( 25-50% ) back into XMR in the 0.50 USD neighborhood.

Do you see XMR getting a slingshot effect from the current rally of 1st gen altcoins (LTC/NMC/PPC etc)?

The cost of generating XMR is almost 0 for come server administrators and botnet operators. They will dump at any price.

Server Admins yes - Botnet Operator no ... as he could rent out his zombies for other malicous things

[iCEBREAKER]

Why isn't monero participating in the LTC revaluation ?

Four year old LTC acts as the primary safety valve and backup for BTC.  It is the best hedge against BTC failure and/or ascendancy.  IE, BTC failing would be great for LTC but so would BTC enjoying great success.

LTC has a mature worldwide ecosystem and the resultant ton of volume, wallets, translations, fiat exchanges, etc.  Plus it was invented by a very reputable Chinese American dude whose brother happens to run a large exchange back in the old country.

One year old XMR is still in the pupal stage, snug in its chrysalis, but growing into a magnificent butterfly.

[drawingthesun]

One year old XMR is still in the pupal stage, snug in its chrysalis, but growing into a magnificent butterfly.

I really hope so.

[mrkavasaki]

Currently Monero is too inflationary, it might not really smart to invest in now👎

[iCEBREAKER]

One year old XMR is still in the pupal stage, snug in its chrysalis, but growing into a magnificent butterfly.

I really hope so.

As block reward decreases, so do the number of ~free coins dumped by claymore/yvg1900, botnets, and BOFH sysadmins.   

[dnaleor]

Why isn't monero participating in the LTC revaluation ?

Four year old LTC acts as the primary safety valve and backup for BTC.  It is the best hedge against BTC failure and/or ascendancy.  IE, BTC failing would be great for LTC but so would BTC enjoying great success.

LTC has a mature worldwide ecosystem and the resultant ton of volume, wallets, translations, fiat exchanges, etc.  Plus it was invented by a very reputable Chinese American dude whose brother happens to run a large exchange back in the old country.

One year old XMR is still in the pupal stage, snug in its chrysalis, but growing into a magnificent butterfly.

In bold not at all true. What would kill BTC? A catastrophic technical bug of some sort. Complete loss of confidence in blockchain tech. What else? LTC is BTC codebase. If BTC fails, LTC fails. There is no hedge. It's just market games.

if anything, the hedge for BTC is... XMR

[iCEBREAKER]

Why isn't monero participating in the LTC revaluation ?

Four year old LTC acts as the primary safety valve and backup for BTC.  It is the best hedge against BTC failure and/or ascendancy.  IE, BTC failing would be great for LTC but so would BTC enjoying great success.

LTC has a mature worldwide ecosystem and the resultant ton of volume, wallets, translations, fiat exchanges, etc.  Plus it was invented by a very reputable Chinese American dude whose brother happens to run a large exchange back in the old country.

One year old XMR is still in the pupal stage, snug in its chrysalis, but growing into a magnificent butterfly.

In bold not at all true. What would kill BTC? A catastrophic technical bug of some sort. Complete loss of confidence in blockchain tech. What else? LTC is BTC codebase. If BTC fails, LTC fails. There is no hedge. It's just market games.

Do you remember the time LTC spiked as BTC suffered a chain fork (IE, failed)?  That will probably happen again.

LTC uses a different PoW, targets faster (far less controversially sized) blocks, and its codebase had drifted from current BTC.

The problem with the 'hurr durr LTC is *nothing but* a clone of BTC amirite' position is that by the same logic XMR is *nothing but* a BCN clone.

[TrueCryptonaire]

I am shocked and kind of worried of the fact that Monero is barely shorted.
The reason is, if there will be a dump, there will be no buyers (shorters closing their positions).
I am afraid of the fact that Monero looses the buyers at some point and then all we need is shorters closing their positions but behold - they do not exist. 

[rpietila]

The problem with the 'hurr durr LTC is *nothing but* a clone of BTC amirite' position is that by the same logic XMR is *nothing but* a BCN clone.

BCN was not fair launch. BTC is generally perceived as a fair launch.

It looks a little bearish on XMR/BTC btw. The rally on BTC/USD has pressured the XMR/BTC rate and it does not help confidence that the big wall was sold into in 190k. I believe there is a chance that BTC will nudge upwards and it will be interesting to see what XMR does.

It is convincing to see that XMR seems to be somewhat priced in USD despite trading in BTC. I envision that this offers protection in case BTC suffers a big hit.

[rangedriver]

I wonder how many people will jump on the XMR train once LTC starts to run out of steam.

[iCEBREAKER]

The problem with the 'hurr durr LTC is *nothing but* a clone of BTC amirite' position is that by the same logic XMR is *nothing but* a BCN clone.

BCN was not fair launch. BTC is generally perceived as a fair launch.

It looks a little bearish on XMR/BTC btw. The rally on BTC/USD has pressured the XMR/BTC rate and it does not help confidence that the big wall was sold into in 190k. I believe there is a chance that BTC will nudge upwards and it will be interesting to see what XMR does.

It is convincing to see that XMR seems to be somewhat priced in USD despite trading in BTC. I envision that this offers protection in case BTC suffers a big hit.

Fair vs unfair launch is an issue separate from the question of whether a new coin is *nothing but* a clone of another.

A fork is not a clone.  LTC haters intentionally conflate the terms to bash LTC using BTC, just as XMR haters do using BCN.

Given the difference in PoW (SHA vs SCrypt), the case could be made that LTC is less of a clone of BTC than XMR is of BCN.  

It's fascinating to watch the market, by offering near-zero interest rates for borrowing, all but dare someone to short XMR.

TrueCryptonaire thinks this is a problem because "if there will be a dump, there will be no buyers (shorters closing their positions)."  Maybe this is what's we're seeing today?

I wonder how many people will jump on the XMR train once LTC starts to run out of steam.

Not many.  LTC whales swim in oceans far from landlocked Lake Polo.

[rpietila]

Given the difference in PoW (SHA vs SCrypt), the case could be made that LTC is less of a clone of BTC than XMR is of BCN.  

Of course it was. Nowadays the difference in LTC codebase vs. BTC is less than XMR vs. BCN, due to XMR being almost completely rewritten by our glorious and vigilant devs.

It's fascinating to watch the market, by offering near-zero interest rates for borrowing, all but dare someone to short XMR.

TrueCryptonaire thinks this is a problem because "if there will be a dump, there will be no buyers (shorters closing their positions)."  Maybe this is what's we're seeing today?

It will find buyers, it's only a question of "FOMO" vs. "greed to get'em cheaper". I have somewhat predicted 0.0015 but the progress towards that value is so slow that our efforts to find new money might kick in sooner

[kazuki49]

The problem with the 'hurr durr LTC is *nothing but* a clone of BTC amirite' position is that by the same logic XMR is *nothing but* a BCN clone.

BCN was not fair launch. BTC is generally perceived as a fair launch.

It looks a little bearish on XMR/BTC btw. The rally on BTC/USD has pressured the XMR/BTC rate and it does not help confidence that the big wall was sold into in 190k. I believe there is a chance that BTC will nudge upwards and it will be interesting to see what XMR does.

It is convincing to see that XMR seems to be somewhat priced in USD despite trading in BTC. I envision that this offers protection in case BTC suffers a big hit.

Fair vs unfair launch is an issue separate from the question of whether a new coin is *nothing but* a clone of another.

A fork is not a clone.  LTC haters intentionally conflate the terms to bash LTC using BTC, just as XMR haters do using BCN.

Given the difference in PoW (SHA vs SCrypt), the case could be made that LTC is less of a clone of BTC than XMR is of BCN.  

It's fascinating to watch the market, by offering near-zero interest rates for borrowing, all but dare someone to short XMR.

TrueCryptonaire thinks this is a problem because "if there will be a dump, there will be no buyers (shorters closing their positions)."  Maybe this is what's we're seeing today?

Looks like you don't even know LTC history, its a clone of Tenebrix without the premine and thats it no new code. Monero code has been rewritten plus new features are on the way, LTC dev officially said it doesn't need new features, if you want to compare a Cryptonote coin to LTC it is Dashcoin not Monero. But please keep defending LTC on a XMR thread and btw if there a coin that "hurts" BTC market it is LTC because it offers absolutely nothing hedge-wise as the codebase is 98% compatible it simply sucks money that would otherwise go to BTC, but XMR is a new paradigm that gives new meaning to Bitcoin transparent ledger.

[DaveyJones]

Currently Monero is too inflationary, it might not really smart to invest in now👎

atleast some point you did make in all these nonsense posts.

And the case that Monero is pretty stable to the Fiat price gives me some more hope then all those coins riding BTC waves. Also i think LTC is largely played by the Scrypt Farms who want to have the same Profit after the halving like they did before.

[TrueCryptonaire]

The problem with the 'hurr durr LTC is *nothing but* a clone of BTC amirite' position is that by the same logic XMR is *nothing but* a BCN clone.

TrueCryptonaire thinks this is a problem because "if there will be a dump, there will be no buyers (shorters closing their positions)."  Maybe this is what's we're seeing today?

I wonder how many people will jump on the XMR train once LTC starts to run out of steam.

Not many.  LTC whales swim in oceans far from landlocked Lake Polo.

Yes, exactly.
The market needs both shorters and longers in order to stay liquid to both sides. Now looks Monero has no liquidity to down and therefore the price is declining. With short positions we may not have seen a dump like this, probably 1-2 % decline only.
A margin trading can on one hand increase the volatility (if there are too many positions in the wrong direction and they will be forced to liquidate), but on the other hand damper the dumps/pumps.

[iCEBREAKER]

Given the difference in PoW (SHA vs SCrypt), the case could be made that LTC is less of a clone of BTC than XMR is of BCN.  

Of course it was. Nowadays the difference in LTC codebase vs. BTC is less than XMR vs. BCN, due to XMR being almost completely rewritten by our glorious and vigilant devs.

It's fascinating to watch the market, by offering near-zero interest rates for borrowing, all but dare someone to short XMR.

TrueCryptonaire thinks this is a problem because "if there will be a dump, there will be no buyers (shorters closing their positions)."  Maybe this is what's we're seeing today?

It will find buyers, it's only a question of "FOMO" vs. "greed to get'em cheaper". I have somewhat predicted 0.0015 but the progress towards that value is so slow that our efforts to find new money might kick in sooner

Since the time LTC forked from BTC (or Tenebrix, if you are a try-hard pedant), BTC has been substantially changed.  But developments post hoc don't change the initial clone vs fork distinction.

The point is LTC is the best BTC hedge for a number of reasons, as the markets have been saying for years.

Looks like you don't even know LTC history, its a clone of Tenebrix without the premine and thats it no new code. Monero code has been rewritten plus new features are on the way, LTC dev officially said it doesn't need new features, if you want to compare a Cryptonote coin to LTC it is Dashcoin not Monero. But please keep defending LTC on a XMR thread and btw if there a coin that "hurts" BTC market it is LTC because it offers absolutely nothing hedge-wise as the codebase is 98% compatible it simply sucks money that would otherwise go to BTC, but XMR is a new paradigm that gives new meaning to Bitcoin transparent ledger.

Looks like you don't even know the difference between a clone and a fork.

Tenebrix has 5 minute blocks, LTC has 2.5.  Just like XMR halved BCN's block time when it forked.

All I did was point out LTC is no more of a BTC (or Tenebrix, if you are a try-hard pedant) clone than XMR is a BCN clone.

If that's "defending" LTC, well...sorry to interrupt your anti-LTC Two Minutes Hate.

I know it's hard watching LTC moon while XMR slumps, but there's no need to be all bitchy and jelly.

BTW, Tacotime and I were tweaking GPUs to mine LTC years ago.  Where you there too?  PM old handle or GTFO noob!  

[MilkyLep]

I have somewhat predicted 0.0015 but the progress towards that value is so slow that our efforts to find new money might kick in sooner

I've been eyeballing that level for the past month it feels. I keep getting excited as the bid side thins out thinking this might be it, just feels so wrong. 

Who knows, a 60-80k dump could be in the cards to bring us there and lower. I'm expecting a flash crash (for no real reason) before this new money flows and the fiat -> XMR exchanges open up.

I almost want to get a second job just to spend on XMR and my pitiful IRA.

[GingerAle]

I speculate that a reason that monero isn't enjoying a climb right now is because of the lack of fiat -> xmr exchanges.

This recent bitcoin fork + the blocksize debate + these spamming attacks means that anyone entering the bitcoin system from fiat is not experiencing a fully functioning cryptocurrency. Perhaps they are testing a purchase, seeing it sputter, and then buying litecoin instead... because that blockchain is working right now. Indeed, I'm flummoxed by this rise of bitcoin price while all this crap is going on. Clearly, its new money coming in that doesn't really pay attention to whats happening.

for instance, if I wanted to buy monero right now, I'd have to find a way through litecoin to get to an exchange. The fiat -> bitcoin onramp to cryptocurrency is currently under construction.

[wpalczynski]

I speculate that a reason that monero isn't enjoying a climb right now is because of the lack of fiat -> xmr exchanges.

This recent bitcoin fork + the blocksize debate + these spamming attacks means that anyone entering the bitcoin system from fiat is not experiencing a fully functioning cryptocurrency. Perhaps they are testing a purchase, seeing it sputter, and then buying litecoin instead... because that blockchain is working right now. Indeed, I'm flummoxed by this rise of bitcoin price while all this crap is going on. Clearly, its new money coming in that doesn't really pay attention to whats happening.

for instance, if I wanted to buy monero right now, I'd have to find a way through litecoin to get to an exchange. The fiat -> bitcoin onramp to cryptocurrency is currently under construction.

Bitcoin transfers have been working havent they?