TrueCryptonaire
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July 23, 2015, 12:21:22 AM |
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the price of monero is just so high because it has indeed very good sales pitches. it will comes the time when people will realized the real price of xmr
I don't think it is too high now considering the buying pressure of Risto and the development Risto is doing for Monero economy. I hope there will be others in addition to Risto to follow in building Monero economy, too. If Monero was an alternative payment method to bitcoin, it would be close to parity. Monero price represents only a fraction of bitcoin's price ( 0.2% - two per milles, not per cents). I don't think it is too overvalued and even if Monero will not succeed completely, it can pretty easily hold the current value. The whales do not bother to sell and as emission dries to minimum block reward, it will establish its valuation more or less at the current state. If someone wants to have a position or increase his/her position in Monero I recommend the following strategy: set a buy orders close to market value (let's say, 1-5 % below) then market buy a little. The market buys makes sure you get at least some coins and in case of dump your buy orders will decrease the bitcoin cost average. There are very little short selling in Monero, therefore the liquidity is lacking. Now it might be rewarding to provide liquidity and fill the low 0.002's with buy orders. Yes, my opinions are biased since I am a proud Monero holder and I buy more coins on daily basis. Still I understand that the risk of total failure is existing and I may even lose all my investment into Monero. However, investing in bitcoin now has also a risk of losing pretty much everything one has invested. Bitcoin works as fine (or I would say badly due to slow confirmation times) when the price is 1 usd/btc or 275 usd/btc.
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XMRChina
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July 23, 2015, 12:56:09 AM |
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I wish everyone in this thread would spend less time speculating and more time contacting exchanges, developing or filling out the empty sections on the getmonero page.
Sometimes I spend too much time posting here myself so I understand the desire to debate and speculate.
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jehst
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July 23, 2015, 01:20:12 AM |
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I wish everyone in this thread would spend less time speculating and more time contacting exchanges, developing or filling out the empty sections on the getmonero page.
Sometimes I spend too much time posting here myself so I understand the desire to debate and speculate.
I think the demand has to grow organically to some extent. I can go outside and hand out flyers to 100,000 people. I don't think it would do much. We have plenty of time to improve websites and get on more exchanges. Bitcoin's not exactly going to the moon without us.
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Year 2021 Bitcoin Supply: ~90% mined Supply Inflation: <1.8%
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americanpegasus
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July 23, 2015, 02:15:33 AM |
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The first tendrils of a Monero based economy need to start now. We need to have ideas for Monero only goods and services, and start offering things only for Monero. The more goods and services that can be purchased with Monero, and the more ways one can earn Monero by selling labor and goods, the larger Monero's value will grow organically. The speculation stage is only successful of there is a legitimate future we are building towards. If any of you honestly have a net worth above $1 Million USD, the best thing you could do for Monero would be to open an Amazon-type Internet store that transact entirely in Monero, and begin posting job listings that pay in Monero. That's creating an economy. Me? I can advertise some graphics design work for Monero and offer to sell my books (pending by the end of 2015) exclusively for Monero for a period of time. Everyone has something they can contribute towards an actual economy, not just HODL'ing and PREECH'ing.
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Account is back under control of the real AmericanPegasus.
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saddambitcoin
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July 23, 2015, 02:18:41 AM |
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developing or filling out the empty sections on the getmonero page.
I wanted to contribute some but then I started to do it and it's not easy to preview your own work before submitting a pull request. I think I need to get Jekyll and build the site but I'm already trying to learn about 10 other things right now so I put it off...lol
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aerbax
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July 23, 2015, 03:12:17 AM |
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The first tendrils of a Monero based economy need to start now. We need to have ideas for Monero only goods and services, and start offering things only for Monero. ...
I have a few silly ideas, but I'm waiting for the database and API (I think I heard we might get zeromq?) to solidify a bit. I know I can clone the github repo (and I have), but I'm hoping for something more...official and/or release-like.
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smooth (OP)
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July 23, 2015, 03:24:27 AM |
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I think I heard we might get zeromq?
Yes the future APIs will use 0MQ, but that won't be available for some time. (Off topic for this thread though)
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Anon136
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July 23, 2015, 04:05:57 AM |
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The first tendrils of a Monero based economy need to start now. We need to have ideas for Monero only goods and services, and start offering things only for Monero.
I acquired my original bitcoin position (ages ago) by selling silver (i miss bitmit). I would be happy to do the same thing for monero if there is any interest.
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Rep Thread: https://bitcointalk.org/index.php?topic=381041If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited?
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shitaifan2013
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monero
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July 23, 2015, 05:31:30 AM |
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The first tendrils of a Monero based economy need to start now. We need to have ideas for Monero only goods and services, and start offering things only for Monero.
I acquired my original bitcoin position (ages ago) by selling silver (i miss bitmit). I would be happy to do the same thing for monero if there is any interest. moneroinvest.com maybe? but I don't think anyone has had any experience with them yet.
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jehst
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July 23, 2015, 05:58:10 AM |
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I have a very, very good way to promote XMR. I won't go into the details here, but the main idea is that all of the like-minded XMR-rich will have the opportunity to get together and share our awesome stuff. The goal will be to have fun. A secondary consequence of our fun will be that other accomplished people in the world will see the benefits of being part of an elite cryptocurrency community and may decide (or try) to join us. The more exclusive the club, the harder it is to join it. LTC, DRK, etc. will never have a large enough group of dedicated holders to do anything comparable, so I'm not even worried about them copying this idea.
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Year 2021 Bitcoin Supply: ~90% mined Supply Inflation: <1.8%
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TrueCryptonaire
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July 23, 2015, 06:01:59 AM |
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The first tendrils of a Monero based economy need to start now. We need to have ideas for Monero only goods and services, and start offering things only for Monero.
I acquired my original bitcoin position (ages ago) by selling silver (i miss bitmit). I would be happy to do the same thing for monero if there is any interest. moneroinvest.com maybe? but I don't think anyone has had any experience with them yet. Moneroinvesto probably has nothing to do with Monero. Seems (to me) that the same name is a mere coincidence. I did some research and it is a company dating like to 2013 when Monero is not existing. However, they could be one merchant that need to be preached the good news of Moneronism.
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TrueCryptonaire
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July 23, 2015, 08:03:44 AM |
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I wish everyone in this thread would spend less time speculating and more time contacting exchanges, developing or filling out the empty sections on the getmonero page.
Sometimes I spend too much time posting here myself so I understand the desire to debate and speculate.
I appreciate on your take here. I consider it important for Monero to be added to btc38 as it will bring the Monero to China. Chinese people need a coin like Monero which is good thanks to low inflation (not low necessarily this moment, but it gets lower day by day as the money base grows and emission of new coins is getting tighter). What I've been following, Moneromooo is having some progress in his tasks related to development. But, I agree, more could be done always as Monero is not a world reserve currency just yet. When it comes to organic growth and creating products for Monero economy, it is one potential source of increase in marketcap. The mechanism is as follows for example with silver (assuming you do not sell Moneros): 1) You buy silver for 20 dollars a coin. 2) You sell it in Moneros for 22-25 dollars a coin. You added value to Monero's marketcap 2-5 dollars compared with the situation that you only would have bought Moneros for initial amount of 20 usd. Being a Monero merchant gives a leverage in growth rate compared to only fiat investments. The more living costs can be rolled to Monero, the better it is for the economy as there is always a profit margin as a leverage. Both are needed. That's pretty much how a coin can grow organically and anyone can contribute to it. Some kind of ebay-style exchange for Moneros only would be cool to have at some point with heavy advertising budgets (Coca Cola uses 20 % of their turnover to marketing costs and probably that's one reason it is a succesful business).
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pa
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July 23, 2015, 11:20:01 AM |
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I have a very, very good way to promote XMR. I won't go into the details here, but the main idea is that all of the like-minded XMR-rich will have the opportunity to get together and share our awesome stuff. The goal will be to have fun. A secondary consequence of our fun will be that other accomplished people in the world will see the benefits of being part of an elite cryptocurrency community and may decide (or try) to join us. The more exclusive the club, the harder it is to join it. LTC, DRK, etc. will never have a large enough group of dedicated holders to do anything comparable, so I'm not even worried about them copying this idea.
This sounds like Crypto-Kingdom.
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whap
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July 23, 2015, 11:52:09 AM |
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I wish everyone in this thread would spend less time speculating and more time contacting exchanges, developing or filling out the empty sections on the getmonero page.
Sometimes I spend too much time posting here myself so I understand the desire to debate and speculate.
Very good post. In addition it would be wise to quit those childish Dash/BCN battlegames as well as over-exaggerated predictions about future XMR prices, they are getting really annoying. Some of our cocky fellows have a very big mouth, and although the intentions might be for the good of Monero, they actually hurt it's reputation more by firing up useless threads and posts which might turn other people off. This is not about your ego, please consider this the next time you are about to hit the reply button. As XMRChina says, translated to common forum language: Say something productive or just STFU. This might be difficult at times, i'm definately no better but this journey is a great lesson to learn something about yourself. There is already a lot of information to counter false accusations against XMR, provide something that convinces people about the credibility and the importance of the Monero project, and there will be no need to participate in these girlfights anymore. What is worth a boxer with the hardest punch, when a single hit will make him cry like a baby?
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TrueCryptonaire
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Activity: 1092
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July 23, 2015, 02:10:29 PM |
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I wish everyone in this thread would spend less time speculating and more time contacting exchanges, developing or filling out the empty sections on the getmonero page.
Sometimes I spend too much time posting here myself so I understand the desire to debate and speculate.
Very good post. In addition it would be wise to quit those childish Dash/BCN battlegames as well as over-exaggerated predictions about future XMR prices, they are getting really annoying. Some of our cocky fellows have a very big mouth, and although the intentions might be for the good of Monero, they actually hurt it's reputation more by firing up useless threads and posts which might turn other people off. This is not about your ego, please consider this the next time you are about to hit the reply button. As XMRChina says, translated to common forum language: Say something productive or just STFU. This might be difficult at times, i'm definately no better but this journey is a great lesson to learn something about yourself. There is already a lot of information to counter false accusations against XMR, provide something that convinces people about the credibility and the importance of the Monero project, and there will be no need to participate in these girlfights anymore. What is worth a boxer with the hardest punch, when a single hit will make him cry like a baby? Agreed. One of the downsides of hyping up the speculation aspect is that you end up with a community largely comprised of speculators, who thereby only talk about profit, thus amplifying the speculative narrative, and suddenly you have a self-fulfilling circle. In some respects this is beneficial for keeping interest ticking over. The trouble with speculators though is that they are often very fickle, and will likely reverse their "beliefs" at the drop of a hat. TrueCryptonaire is a classic example of this. Steering the narrative in favour of the political implications of a good quality private cryptocurrency will attract a better quality community that has solid foundations and will organically spawn a collective effort dedicated to collective growth and expansion. I'm not saying that such attributes aren't currently applicable to Monero - they are. However, it is presently being drowned out by the speculative faculties, and the seduction of great profits can corrupt even the most well-intentioned. Let's try to keep things in perspective and with focus on the underlying infrastructure. As far as I am aware this thread is all about speculation. Please correct me if I am in the wrong thread. I think you are making the mistake of misintepreting me... However, it might be my mistake as well if I am not always so well spoken. In the long run I believe Monero will have higher marketcap than bitcoin, but in the short term there are pumps and dumps. BTC has pumps/dumps and so has Monero. It is the nature of crypto due to immaturity of the concept and still relatively low adaption.
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TrueCryptonaire
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July 23, 2015, 02:30:08 PM |
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Blah blah blah... I think you are making the mistake of misintepreting me... blah blah blah No, he has you pegged 100% accurately. I doubt a single person who follows this thread would disagree other than you.Then the all the others will sell all their coins before me. This could be I am the only one who is right or I am the only one who is wrong here. It is getting interesting.
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luigi1111
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July 23, 2015, 02:30:26 PM |
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The trouble with speculators though is that they are often very fickle, and will likely reverse their "beliefs" at the drop of a hat. TrueCryptonaire is a classic example of this.
Blah blah blah... I think you are making the mistake of misintepreting me... blah blah blah No, he has you pegged 100% accurately. I doubt a single person who follows this thread would disagree other than you. EDIT: I ought to contribute something and I have been curious, although I know many will be reluctant to disclose; what are individuals fiat average buy in price? With such a large variation between last summer and now, I'm curious what kind of resistance we may see during the next leg up, whenever that comes. I don't keep track of such things. Polo's trade analysis could probably tell me my average BTC price (of what I've bought there), but I don't pay attention to that either.
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TrueCryptonaire
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Activity: 1092
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July 23, 2015, 02:41:48 PM |
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I told on the trollbox that I've bought already over 700 more xmr today - and if you guys are not going to buy this baby up - I will increase my positions even more. I have already a nice stack which is capable of crashing the price of Monero but the problem is I do not feel like doing it so I will just concentrate on buying.
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hodlmybtc
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July 23, 2015, 02:55:21 PM |
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I wish everyone in this thread would spend less time speculating and more time contacting exchanges, developing or filling out the empty sections on the getmonero page.
Sometimes I spend too much time posting here myself so I understand the desire to debate and speculate.
Very good post. In addition it would be wise to quit those childish Dash/BCN battlegames as well as over-exaggerated predictions about future XMR prices, they are getting really annoying. Some of our cocky fellows have a very big mouth, and although the intentions might be for the good of Monero, they actually hurt it's reputation more by firing up useless threads and posts which might turn other people off. This is not about your ego, please consider this the next time you are about to hit the reply button. As XMRChina says, translated to common forum language: Say something productive or just STFU. This might be difficult at times, i'm definately no better but this journey is a great lesson to learn something about yourself. There is already a lot of information to counter false accusations against XMR, provide something that convinces people about the credibility and the importance of the Monero project, and there will be no need to participate in these girlfights anymore. What is worth a boxer with the hardest punch, when a single hit will make him cry like a baby? Agreed. One of the downsides of hyping up the speculation aspect is that you end up with a community largely comprised of speculators, who thereby only talk about profit, thus amplifying the speculative narrative, and suddenly you have a self-fulfilling circle. In some respects this is beneficial for keeping interest ticking over. The trouble with speculators though is that they are often very fickle, and will likely reverse their "beliefs" at the drop of a hat. TrueCryptonaire is a classic example of this. Steering the narrative in favour of the political implications of a good quality private cryptocurrency will attract a better quality community that has solid foundations and will organically spawn a collective effort dedicated to collective growth and expansion. I'm not saying that such attributes aren't currently applicable to Monero - they are. However, it is presently being drowned out by the speculative faculties, and the seduction of great profits can corrupt even the most well-intentioned. Let's try to keep things in perspective and with focus on the underlying infrastructure. Good points guys, stop making useless threads about XMR2DAMOON/DASH/other coins. I know a lot of those threads are made by people who pose as Monero supporters but in fact are trying to hurt the reputation of it, but also a smaller part is by real supporters. Stating facts to some hypocrite DASH guys who boast about marketcap etc. is fine, just don't make 10 threads about it. About speculation, speculation is a pretty big part in the cryptocurrency community and without speculation and trading coins wouldn't be that interesting. About TC, everyone with half a brain knows that he is posting uber bull stuff when he bought and posting doom & gloom posts when he sold, whatever, speculating/trading is a game of incomplete information, the more information you have the better.
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Hueristic
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Doomed to see the future and unable to prevent it
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July 23, 2015, 03:05:58 PM |
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“Bad men need nothing more to compass their ends, than that good men should look on and do nothing.”
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