[XMR] Monero Speculation

[cbeast]

Looks like I'll be slumming in the altcoin section now that XT is moved there. So I have a question about Monero. I am interested in looking into a Monero based technology. Is there a block size limit with Monero?

[Jungian]

Looks like I'll be slumming in the altcoin section now that XT is moved there. So I have a question about Monero. I am interested in looking into a Monero based technology. Is there a block size limit with Monero?

The block size limit is dynamic

https://github.com/monero-project/bitmonero/blob/c41d14b2aa3fc883d45299add1cbb8ebbe6c9ed8/src/cryptonote_core/blockchain.cpp#L2230-L2244

Median of last 'sz' blocks, with lower-limit * 2

[TrueCryptonaire]

Is XMR dead already?

sooner or later it will be dead anyway.
as the old risto said ,there is  a very tiny chance that monero will ever be success.
but for now we can good gamble with it

I think Risto's predictions are biased by the number of abandoned coins that are not even meant to achieve to any success (they have been made for making a pump and dump or some coins are made perhaps also for experimenta & educational reasons). The fact is, Monero will be as good as we want it to be. It is largerly on our hands (of course everything is in the hands of the Creator). We can make this success if we so want.

I think Monero has many things that makes it rare project. Not the least one is that the community has no lack of money to buy up this coin from the weak shaking hands.

These days are the days when it is important to try to start accumulation of Moneros as the price can start serious rising any moment now as there are not that many Moneros to be mined (if we exclude the tail emission). Bear in mind, Monero is still below 10 usd which would be cool to achieve this year and 100 usd in 2016. 

[rpietila]

Is XMR dead already?

sooner or later it will be dead anyway.
as the old risto said ,there is  a very tiny chance that monero will ever be success.
but for now we can good gamble with it

Monero can only be a failure if every member of the community abandons it entirely. A comparison with CKG is perhaps in order:

CKG is only owned by 94 player characters in the game (corporations excluded since they are owned by the player chars). Of these,
- 58 own at least 0.1% of it,
- 11 own at least 1.0%, and
- 1 owns at least 10%.

The market cap is 700,000 XMR, which is 7,446 XMR per PC.

If some part of the community leaves, pressuring the market cap down by their sales, it is more than likely that the rest bid up the assets, because otherwise their weekly profit soars too high - it is a competitive market.

XMR has interest-bearing usage in the game: the last time bonds were issued, they paid 82% per realyear. CKG is paying dividends, which at the current pace make it earn about 30% per year. The building/repair projects are currently returning about multiples per year.

[ArticMine]

Looks like I'll be slumming in the altcoin section now that XT is moved there. So I have a question about Monero. I am interested in looking into a Monero based technology. Is there a block size limit with Monero?

First welcome.

There is no max blocksize limit baked into the Monero code. The blocksize limit is dynamic as explained in the code quote above. I must say that I have been concerned about the max blocksize limit in Bitcoin for well over two years and actually found out about Monero while researching this issue back in June of 2014. I will also add that most of the POW altcoins have baked in  max blocksize limits because they were forked from either Bitcoin or Litcoin, so the ticking time bomb may be there also.

[TrueCryptonaire]

I almost got heart attack when I looked at bitcoin's price.
What's going on? Is it the block size debate?
If it is, it is important to start marketing actions to bitcoin community so that they will not abandon the crypto completely. Monero can potentially save the crypto world.

[farfiman]

I almost got heart attack when I looked at bitcoin's price.
What's going on? Is it the block size debate?
If it is, it is important to start marketing actions to bitcoin community so that they will not abandon the crypto completely. Monero can potentially save the crypto world.

https://www.reddit.com/r/Bitcoin/comments/3hiwam/everybody_settle_down_the_price_crash_has_nothing/

[G2M]

I almost got heart attack when I looked at bitcoin's price.
What's going on? Is it the block size debate?
If it is, it is important to start marketing actions to bitcoin community so that they will not abandon the crypto completely. Monero can potentially save the crypto world.

It was glorious.

Initially I figured someone was dropping eth profits for fiat. But the suddenness of it all lends more to the story farfiman posted.

Just a freak crash. I can add a new feeling to my list now though.

That feeling when the btc market bounces between 180 and 250 in an amount of time long enough to at least sign into a website and click 'buy'.

'BTC 20-40% off sale' makes for a really good day.

[TrueCryptonaire]

I almost got heart attack when I looked at bitcoin's price.
What's going on? Is it the block size debate?
If it is, it is important to start marketing actions to bitcoin community so that they will not abandon the crypto completely. Monero can potentially save the crypto world.

It was glorious.

Initially I figured someone was dropping eth profits for fiat. But the suddenness of it all lends more to the story farfiman posted.

Just a freak crash. I can add a new feeling to my list now though.

That feeling when the btc market bounces between 180 and 250 in an amount of time long enough to at least sign into a website and click 'buy'.

'BTC 20-40% off sale' makes for a really good day.

I do not know what to think about it. Yes, bitcoin has a lot of volatility but it looks it has over years have had the volatility more downwards than upwards.
Bitcoin is illiquid at these prices so probably it means it will dive again. I hope the bitcoiners start to realize the probability to reach 1000 usd/btc any time soon (if ever) has declined radically. The block size issue will not help, especially if the community will be divided into two camps by the fork. Increasing Monero holdings/starting to convert bitcoins into Monero is becoming more and more vital these days before anything bigger happens which cannot be fixed anymore.

[G2M]

Pretty sure the cats still in the bag on this one.

A hundred million dollars was created from nothing recently, and about 2% of that traded today. Blocksize debate is moving nowhere, and same goes for most of crypto. Both these on top of the lack of any real garnished attention toward the cryptosphere for damn near two years now.

That's a time period in which 99% of crypto exists for a lot of people. Certainly the majority.

People aren't seeing gains, reason to be here, logic to any or most of the original design goals has been tossed out, interesting discussions often end in some nutjob not only telling you all about but also redefining pretty much any noun to fit their own purposes.

I guess there's plenty of reasons to finally start focusing on the ground from the top of all those turtles. Nobody would blame anyone at this point.

But still, cats in the bag.

I sure would find it awkward to navigate a distinct market if I was buying gold priced in silver, or silver priced in gold, or bread priced in hot dog buns, or mustard priced in ketchup bottles, and especially steak priced in ham.

We really need a solid real USD market before the years out. I'm sure not just talking about releasing a website .. It takes months to establish liquidity and eliminate security bugs.

[camu6]

I do not know what to think about it. Yes, bitcoin has a lot of volatility but it looks it has over years have had the volatility more downwards than upwards.
Bitcoin is illiquid at these prices so probably it means it will dive again. I hope the bitcoiners start to realize the probability to reach 1000 usd/btc any time soon (if ever) has declined radically. The block size issue will not help, especially if the community will be divided into two camps by the fork. Increasing Monero holdings/starting to convert bitcoins into Monero is becoming more and more vital these days before anything bigger happens which cannot be fixed anymore.

Maybe this is what monero needs even more than bitcoin doing just fine and reaching new highs. Even though I don't like what's happening to Bitcoin at the moment, maybe this is the incentive people needed to look more into bitcoin alternatives. This could help with increasing monero's popularity in general.

Pretty sure the cats still in the bag on this one.

We really need a solid real USD market before the years out. I'm sure not just talking about releasing a website .. It takes months to establish liquidity and eliminate security bugs.

The cryptocurrency cats are out of the bag, people just need incentives to pick the right one.
You are right, we need a direct EUR/USD -> XMR market. How will we be able to grow above / challenge bitcoin, if bitcoin is the vehicle we use to buy our moneroj?

[TrueCryptonaire]

Pretty sure the cats still in the bag on this one.



We really need a solid real USD market before the years out. I'm sure not just talking about releasing a website .. It takes months to establish liquidity and eliminate security bugs.

You are right in this one.
The easiest way to start is to be accepted by some major bitcoin exchange that already has the infrastructure and good enough know-how to maintain it. In other words, a trusted exchange.

It surely helps also if Risto (or anyone else his size of stakeholder - I am not that big despite I have a decent position in XMR accumulated over 1 year now) could open the Monero window for larger bitcoin holders who want to start buying Moneros without too much slippage.

[dEBRUYNE]

Looks like I'll be slumming in the altcoin section now that XT is moved there. So I have a question about Monero. I am interested in looking into a Monero based technology. Is there a block size limit with Monero?

The block size limit is dynamic

https://github.com/monero-project/bitmonero/blob/c41d14b2aa3fc883d45299add1cbb8ebbe6c9ed8/src/cryptonote_core/blockchain.cpp#L2230-L2244

Median of last 'sz' blocks, with lower-limit * 2

Code explained by tacotime on reddit:

As I noted in the thread, this is similar to the block sizing algorithm for Monero and other CryptoNote coins. A quadratic penalty is imposed such that block subsidy = base subsidy * ((block size / median size of last 400 blocks) - 1)2, with the penalty being applied after you build a block larger than the median size. The maximum block size is 2*median size. Because subsidy is based around the number of coins in existence, the 'burned' subsidy is deferred to be paid out to future blocks.

https://www.reddit.com/r/Bitcoin/comments/389pq6/elastic_block_cap_with_rollover_penalties_my/crts1do

[rpietila]

But still, cats in the bag.

CK will be released next week. Crypto Kingdom = the cat. Beware.

[mmortal03]

Just memorize the seed, if you can't trust your own brain/soul who can you trust.

The Fallibility of Memory: http://skeptoid.com/episodes/4446

[hodlmybtc]

Some bids popping up



Bid side still very weak and will probably stay like that with ETH still going remotely strong, unless some serious buying happens and not every seller is just dumping at market.

Still firmly in the uptrending channel but there is a lot of uncertainty in the market, setting low bids nearly always works.

[TrueCryptonaire]

I think fundamentally Eth is not a threath to Monero since Monero and ETH are different concepts. They are different products despite they have something in common (if anything, they both are traded in Poloniex).
The only way I see ETH as a threath to XMR is the fact that ETH sucks so many bitcoins from the lending markets that having a long position in XMR is not that profitable.
Later actually ETH can potentially a good for XMR. As ETH markets settle down at some point, ETH investors will diversify and certainly XMR is one coin that is a valid alternative to add in one's portfolio and then XMR can share some of ETH's liquidity. That's my speculation. 

Some big bitcoiners might be interested also converting even larger amounts of bitcoins into XMR thanks to possible split of btc network. They need a way to buy bigger amounts of Moneros against the scenario of bitcoin's failure (Monero is an excellent hedge against bitcoin's tech risks such as this block size debate).
I see this ongoing debate a potential threath to bitcoin's network effect. Especially if the worst case scenario happens: the coin splits into two different coins and the community breaks. Then we can pretty much can say good bye to bitcoin's market leadership. The best case scenario is that everybody will accept the new fork and the sun is shining.. However, it doesn't help bitcoin's network effect if the price keeps slowly declining. Nobody wants to lose money forever.

[hodlmybtc]

Yes that's kind of what I wanted to say as XMR is mainly traded on Poloniex for now and ETH also.

Everyone and their mother margin longing ETH is bad for XMR because margin longers are encouraged to close their positions due to the fees when there isn't that much movement.

[americanpegasus]

But still, cats in the bag.

CK will be released next week. Crypto Kingdom = the cat. Beware.

 
 
I read something about how it functions as more than just a Farmville clone with retro graphics... I apologize for not giving it more time because I really respect you getting something like this started.  I will mention it on my podcast when I launch record the initial episode this week. 
 
I also heard it will enable me to buy/sell actual products through virtual storefronts?  Is that a launch feature or something planned down the road? 
 
Is there a concise fact/hype sheet you can refer me to so I can better understand your project?

[americanpegasus]

I'm about to release a network speculation chart... but I need a reasonable guess as to how many Monero users there currently are. 
 
Would you say 5,000?  10,000?