[XMR] Monero Speculation

[MataKhobRazi]

I want to add some more XMR to my stack. I'm waiting for a price of 0.019-0.020. I hope to see this area this month or next month. If someone wants to sell, I have some bitcoins for you ^^ !

[vokain]

Speculate away

hoax? real?

you decide

Bitcoin XT Fork

Satoshi Nakamoto satoshi at vistomail.com
Sat Aug 15 17:43:54 UTC 2015
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I have been following the recent block size debates through the mailing list.  I had hoped the debate would resolve and that a fork proposal would achieve widespread consensus.  However with the formal release of Bitcoin XT 0.11A, this looks unlikely to happen, and so I am forced to share my concerns about this very dangerous fork.

The developers of this pretender-Bitcoin claim to be following my original vision, but nothing could be further from the truth.  When I designed Bitcoin, I designed it in such a way as to make future modifications to the consensus rules difficult without near unanimous agreement.  Bitcoin was designed to be protected from the influence of charismatic leaders, even if their name is Gavin Andresen, Barack Obama, or Satoshi Nakamoto.  Nearly everyone has to agree on a change, and they have to do it without being forced or pressured into it.  By doing a fork in this way, these developers are violating the "original vision" they claim to honour.

They use my old writings to make claims about what Bitcoin was supposed to be.  However I acknowledge that a lot has changed since that time, and new knowledge has been gained that contradicts some of my early opinions.  For example I didn't anticipate pooled mining and its effects on the security of the network.  Making Bitcoin a competitive monetary system while also preserving its security properties is not a trivial problem, and we should take more time to come up with a robust solution.  I suspect we need a better incentive for users to run nodes instead of relying solely on altruism.

If two developers can fork Bitcoin and succeed in redefining what "Bitcoin" is, in the face of widespread technical criticism and through the use of populist tactics, then I will have no choice but to declare Bitcoin a failed project.  Bitcoin was meant to be both technically and socially robust.  This present situation has been very disappointing to watch unfold.

Satoshi Nakamoto

[jwinterm]

If it was Satoshi, clearly he would have at least mentioned Monero in his anti-XT rant

[XMRpromotions]

If it was Satoshi, clearly he would have at least mentioned Monero in his anti-XT rant

very good point. I think you are right

[vokain]

If it was Satoshi, clearly he would have at least mentioned Monero in his anti-XT rant

very good point. I think you are right

That's what I was thinking too!!  

[g4q34g4qg47ww]

... perhaps we found a nice (local) bottom at 0.002051 afterall.

I was close to hitting it, but no cigar  

[aminorex]

... perhaps we found a nice (local) bottom at 0.002051 afterall.

I was close to hitting it, but no cigar  

Pair that shot with a choice frame from the 0015 dumper video for a lovely illustration of Goofus (how not to do it) and Gallant (how to do it).

[TrueCryptonaire]

I've closed my margin buy position but I am not by now means bearish so keep pumping as I have plenty of XMR waiting for higher prices. I've withdrawn those from the exchange (only about 50 xmr left in exchange) so do not worry, the dump will not be that bad. 

I am becoming more and more bullish now as the price seems to make nice jumps, emission is only about 13 000 xmr per day and Risto is preparing to start big Monero sales which hopefully will attract others also and create a nice network effect and revives the whole world for Monero.

[vokain]

I've closed my margin buy position but I am not by now means bearish so keep pumping as I have plenty of XMR waiting for higher prices. I've withdrawn those from the exchange (only about 50 xmr left in exchange) so do not worry, the dump will not be that bad. 

I am becoming more and more bullish now as the price seems to make nice jumps, emission is only about 13 000 xmr per day and Risto is preparing to start big Monero sales which hopefully will attract others also and create a nice network effect and revives the whole world for Monero.

Timing seems good. Good luck.

[TrueCryptonaire]

I've closed my margin buy position but I am not by now means bearish so keep pumping as I have plenty of XMR waiting for higher prices. I've withdrawn those from the exchange (only about 50 xmr left in exchange) so do not worry, the dump will not be that bad. 

I am becoming more and more bullish now as the price seems to make nice jumps, emission is only about 13 000 xmr per day and Risto is preparing to start big Monero sales which hopefully will attract others also and create a nice network effect and revives the whole world for Monero.

Timing seems good. Good luck.

Thanks Sir!

The strategy is simple: buy lower, sell higher. 
It is good to have speculators in the market. ETH is succesful only becuase there are market makers. Thousands of bitcoins are waiting for getting dumped into in ETH markets and also there are some asks for the buyers.
In my opinion, Monero needs more this type of activity, it helps significiantly with the dumps. If a person wants to buy a new car and needs 100 000 usd cash, Monero should not dump into hell if he sells. After all, 100 000 usd is not that big money and we need more traders to give the markets both for buyers and sellers, then we need accumulators who give the price upward pressure, some merchants who keep the Moneros (or at least a part of the Moneros). The merchants who hold Moneros are good for Monero economy as they allow people taking bigger positions in Moneros and when people pay their purchases hopefully the merchants keep at least a part of the coins so that the bagholders do not eat all those Moneros.

A success in a coin is a combination of several pieces IMO.
However, now there is clearly an accumulation phase going as the coin need to be held in stronger hands that are able to carry it all the way to the new Galaxies.

[bitebits]

We need [...] some merchants who keep the Moneros (or at least a part of the Moneros). The merchants who hold Moneros are good for Monero economy as they allow people taking bigger positions in Moneros and when people pay their purchases hopefully the merchants keep at least a part of the coins so that the bagholders do not eat all those Moneros.

Could you elaborate why you think a merchant would keep the Monero's it has been paid for the service or product it is offering?

From the consumer perspective I am convinced that true anonymity has value. From the merchant perspective not yet. Please convince me, truly interested.

[generalizethis]

We need [...] some merchants who keep the Moneros (or at least a part of the Moneros). The merchants who hold Moneros are good for Monero economy as they allow people taking bigger positions in Moneros and when people pay their purchases hopefully the merchants keep at least a part of the coins so that the bagholders do not eat all those Moneros.

Could you elaborate why you think a merchant would keep the Monero's it has been paid for the service or product it is offering?

From the consumer perspective I am convinced that true anonymity has value. From the merchant perspective not yet. Please convince me, truly interested.

From a merchants perspective, you may not want competitors aware of your transactions (debits or credits). Especially if they can piece together information like contacts (distributors, wholesalers, ect) from analytic software. A smaller business may not want criminal elements to track their balances. Also, many employers and employees would not like their salaries and wages on public record.

[smooth]

We need [...] some merchants who keep the Moneros (or at least a part of the Moneros). The merchants who hold Moneros are good for Monero economy as they allow people taking bigger positions in Moneros and when people pay their purchases hopefully the merchants keep at least a part of the coins so that the bagholders do not eat all those Moneros.

Could you elaborate why you think a merchant would keep the Monero's it has been paid for the service or product it is offering?

From the consumer perspective I am convinced that true anonymity has value. From the merchant perspective not yet. Please convince me, truly interested.

From a merchants perspective, you may not want competitors aware of your transactions (debits or credits). Especially if they can piece together information like contacts (distributors, wholesalers, ect) from analytic software. A smaller business may not want criminal elements to track their balances. Also, many employers and employees would not like their salaries and wages on public record.

Another reason, though it is small, is to avoid conversions. If your customers want to give you Monero and you can use those Monero to pay your employees and vendors, you don't have to convert.

[bitebits]

We need [...] some merchants who keep the Moneros (or at least a part of the Moneros). The merchants who hold Moneros are good for Monero economy as they allow people taking bigger positions in Moneros and when people pay their purchases hopefully the merchants keep at least a part of the coins so that the bagholders do not eat all those Moneros.

Could you elaborate why you think a merchant would keep the Monero's it has been paid for the service or product it is offering?

From the consumer perspective I am convinced that true anonymity has value. From the merchant perspective not yet. Please convince me, truly interested.

From a merchants perspective, you may not want competitors aware of your transactions (debits or credits). Especially if they can piece together information like contacts (distributors, wholesalers, ect) from analytic software. A smaller business may not want criminal elements to track their balances. Also, many employers and employees would not like their salaries and wages on public record.

Another reason, though it is small, is to avoid conversions. If your customers want to give you Monero and you can use those Monero to pay your employees and vendors, you don't have to convert.

Interesting thanks.
When you think about it is actually quite astonishing that the bitcoin blockchain is mandatory transparent. Even if you don't want to for obvious, perfectly legal reasons.

[piebeyb]

slightly take some XMR in trade poloniex, hopefully this could be a good investment for the future

[iCEBREAKER]

We need [...] some merchants who keep the Moneros (or at least a part of the Moneros). The merchants who hold Moneros are good for Monero economy as they allow people taking bigger positions in Moneros and when people pay their purchases hopefully the merchants keep at least a part of the coins so that the bagholders do not eat all those Moneros.

Could you elaborate why you think a merchant would keep the Monero's it has been paid for the service or product it is offering?

From the consumer perspective I am convinced that true anonymity has value. From the merchant perspective not yet. Please convince me, truly interested.

Merchants will keep Moneros when their suppliers accept them.  True anonymity's value varies depending on the sector of System D being considered.

[smooth]

We need [...] some merchants who keep the Moneros (or at least a part of the Moneros). The merchants who hold Moneros are good for Monero economy as they allow people taking bigger positions in Moneros and when people pay their purchases hopefully the merchants keep at least a part of the coins so that the bagholders do not eat all those Moneros.

Could you elaborate why you think a merchant would keep the Monero's it has been paid for the service or product it is offering?

From the consumer perspective I am convinced that true anonymity has value. From the merchant perspective not yet. Please convince me, truly interested.

Merchants will keep Moneros when their suppliers accept them.  True anonymity's value varies depending on the sector of System D being considered.

We have a winner.

[aminorex]

In general, the utility of exchange reserves hinges on future obligations.  In other words:  If you don't want to be a price-insensitive buyer at the last minute, you must pile up the instrument due, for use in the future. 

That is not however the only motivation for reserve in XMR.  Given either sufficient confidence in future value or a mechanism to hedge future value, the lack of credible alternatives for maintaining such a high degree of privacy in your accounts will suffice, even at the cost of conversions.  Such a hedging mechanism could be very helpful to the growth of the practice, since confidence is obviously not pervasive.  It's not, however, a trivial problem, and the market for it is presently rather small, relative to the difficulty of the problem.

In summary, the reasons to pile XMR, in order of importance to the long-term value of the unit: (1) obligations denominated in XMR, (2) compelling strong privacy needs, and (3) speculation.  We have 3, and this is where it has taken us.  It might take us further in future, but is a fickle friend indeed.  2 needs to make its impact felt before conditions will be conducive to the emergence of 1, in every scenario I contemplate seriously.

[mrkavasaki]

slightly take some XMR in trade poloniex, hopefully this could be a good investment for the future

I doubt it will. As risto says, the chances that monero will fail are much ,much more bigger than it will success

[XMRpromotions]

slightly take some XMR in trade poloniex, hopefully this could be a good investment for the future

I doubt it will. As risto says, the chances that monero will fail are much ,much more bigger than it will success

He did say something similar that but you should provide the entire context of his entire quote. Besides ignoring his ROI projections if it succeeds you also ignored comments about how each day Monero survives, the chances of failure are diminished.

If his comments implied he was bearish (he is not) then he would not be actively buying right now. He has made multiple comments recently about buying XMR for a certain Finish company.