[XMR] Monero Speculation

[obit33]

36 BTC volume on Poloniex? Come on Monerians, can't we do better than that?

Calm before the storm!

Yep. Buyers are scared yet and sellers are getting exhausted

The dump to 00196 wasn't actual human sellers, it was people getting margin called and stopped out (I know this for a fact)

can you explain how you know this? because you got margincalled yourself?

thx

best regards

[XMRpromotions]

36 BTC volume on Poloniex? Come on Monerians, can't we do better than that?

Calm before the storm!

I still feel like as we get closer more people will start to think about our slowing emission schedule.

50% pre tail emission happening soon!

https://twitter.com/XMRpromotions/status/636869227106856960

[thefunkybits]

36 BTC volume on Poloniex? Come on Monerians, can't we do better than that?

Calm before the storm!

Yep. Buyers are scared yet and sellers are getting exhausted

The dump to 00196 wasn't actual human sellers, it was people getting margin called and stopped out (I know this for a fact)

can you explain how you know this? because you got margincalled yourself?

thx

best regards

yep someone hunted my position and then my sell order caused a cascade of calls.

So i was the one who started this dumping lol

[Its About Sharing]

Has anyone done an import (paper wallet) using the seed words into MyMonero?
I just tried, it asked me for the words, then it verified the 10 Monero fee, I accepted, then I came into an empty wallet.
How much time should it take to get the funds to appear in MyMonero?

Thx in advance,
IAS

[GingerAle]

Has anyone done an import (paper wallet) using the seed words into MyMonero?
I just tried, it asked me for the words, then it verified the 10 Monero fee, I accepted, then I came into an empty wallet.
How much time should it take to get the funds to appear in MyMonero?

Thx in advance,
IAS

have you ever recreated a wallet using the import from electrum seed on your home PC?

basically, the wallet has to refresh from blocktime 0, so right now mymonero's backend is scanning through the entirety of the blockchain looking for the inputs you own. This scanning can take A WHILE. I know my poor xeon core-architecture CPUs with a HDD can take HOURS to get me a syncd wallet.

So, it could be an hour, depending on how beefy the mymonero servers are. This amount of work is why it costs 10 xmr.

[Its About Sharing]

Has anyone done an import (paper wallet) using the seed words into MyMonero?
I just tried, it asked me for the words, then it verified the 10 Monero fee, I accepted, then I came into an empty wallet.
How much time should it take to get the funds to appear in MyMonero?

Thx in advance,
IAS

have you ever recreated a wallet using the import from electrum seed on your home PC?

basically, the wallet has to refresh from blocktime 0, so right now mymonero's backend is scanning through the entirety of the blockchain looking for the inputs you own. This scanning can take A WHILE. I know my poor xeon core-architecture CPUs with a HDD can take HOURS to get me a syncd wallet.

So, it could be an hour, depending on how beefy the mymonero servers are. This amount of work is why it costs 10 xmr.

Heart rises back up into chest...

Thanks for the detailed explanation, much appreciated.

Its about sharing

[dEBRUYNE]

Has anyone done an import (paper wallet) using the seed words into MyMonero?
I just tried, it asked me for the words, then it verified the 10 Monero fee, I accepted, then I came into an empty wallet.
How much time should it take to get the funds to appear in MyMonero?

Thx in advance,
IAS

have you ever recreated a wallet using the import from electrum seed on your home PC?

basically, the wallet has to refresh from blocktime 0, so right now mymonero's backend is scanning through the entirety of the blockchain looking for the inputs you own. This scanning can take A WHILE. I know my poor xeon core-architecture CPUs with a HDD can take HOURS to get me a syncd wallet.

So, it could be an hour, depending on how beefy the mymonero servers are. This amount of work is why it costs 10 xmr.

Heart rises back up into chest...

Thanks for the detailed explanation, much appreciated.

Its about sharing

Did you perhaps generate your seed from MoneroAddress.org? If so, see -> https://bitcointalk.org/index.php?topic=583449.msg12206473#msg12206473

[Its About Sharing]

Has anyone done an import (paper wallet) using the seed words into MyMonero?
I just tried, it asked me for the words, then it verified the 10 Monero fee, I accepted, then I came into an empty wallet.
How much time should it take to get the funds to appear in MyMonero?

Thx in advance,
IAS

have you ever recreated a wallet using the import from electrum seed on your home PC?

basically, the wallet has to refresh from blocktime 0, so right now mymonero's backend is scanning through the entirety of the blockchain looking for the inputs you own. This scanning can take A WHILE. I know my poor xeon core-architecture CPUs with a HDD can take HOURS to get me a syncd wallet.

So, it could be an hour, depending on how beefy the mymonero servers are. This amount of work is why it costs 10 xmr.

Heart rises back up into chest...

Thanks for the detailed explanation, much appreciated.

Its about sharing

Did you perhaps generate your seed from MoneroAddress.org? If so, see -> https://bitcointalk.org/index.php?topic=583449.msg12206473#msg12206473

Yes I did. Oh man, I need to install simple wallet and download the whole blockchain?
This is exactly why I used MoneroAddress.org, as I couldn't get the wallet running right on my mack.
I noticed the keys were different but didn't think much of it.

Offhand, in the future can I cash in the paper wallets on MyMonero? I don't need to do it right now. (Or when they have the GUI come out, I can wait a while)

Thanks for the info.

[dEBRUYNE]

Has anyone done an import (paper wallet) using the seed words into MyMonero?
I just tried, it asked me for the words, then it verified the 10 Monero fee, I accepted, then I came into an empty wallet.
How much time should it take to get the funds to appear in MyMonero?

Thx in advance,
IAS

have you ever recreated a wallet using the import from electrum seed on your home PC?

basically, the wallet has to refresh from blocktime 0, so right now mymonero's backend is scanning through the entirety of the blockchain looking for the inputs you own. This scanning can take A WHILE. I know my poor xeon core-architecture CPUs with a HDD can take HOURS to get me a syncd wallet.

So, it could be an hour, depending on how beefy the mymonero servers are. This amount of work is why it costs 10 xmr.

Heart rises back up into chest...

Thanks for the detailed explanation, much appreciated.

Its about sharing

Did you perhaps generate your seed from MoneroAddress.org? If so, see -> https://bitcointalk.org/index.php?topic=583449.msg12206473#msg12206473

[1] Yes I did. Oh man, I need to install simple wallet and download the whole blockchain?
This is exactly why I used MoneroAddress.org, as I couldn't get the wallet running right on my mack.
I noticed the keys were different but didn't think much of it.

[2] Offhand, in the future can I cash in the paper wallets on MyMonero? I don't need to do it right now. (Or when they have the GUI come out, I can wait a while)

Thanks for the info.

[1] I guess so, but perhaps shoot luigi1111 a PM first , he'll run you through it. I don't know for sure if also importing it into simplewallet now will mess things up.

[2] Yes, MoneroAddress has been updated and should now be compatible with both simplewallet and MyMonero.

For more discussion regarding this problem, see the following links:

https://bitcointalk.org/index.php?topic=583449.msg12195991#msg12195991
https://bitcointalk.org/index.php?topic=583449.msg12196103#msg12196103
https://bitcointalk.org/index.php?topic=583449.msg12206473#msg12206473

PS: Don't worry, your precious Moneroj are safe, but you'll expierence a bit of a hassle importing them.

[thelibertycap]

Darknet remains defiant

Despite the warning from Silk Road case Judge Katherine Forest who said “They need to understand, without equivocation, that there will be severe consequences” and the efforts of law enforcements and governments worldwide, the sales and transactions across Darknet markets have risen. The volume currently fluctuates between US$300,000 and US$500,000, adding up to somewhere between US$100 million and US$180 million in annual sales.

“These figures are small potatoes in relation to the most recent UN report, which tallied the global drug trade at a colossal US$321.6 billion or 1 percent of the world’s gross domestic product,” reported the Daily Beast. “Less than 0.1% of all drug trade occurs in the Dark Web, yet expensive global operations relentlessly pursue and shut down these marketplaces.”

[kazuki49]

The governaments have seen how poorly Bitcoin protects privacy, now they let Darknet markets grow big again, letting people think they are safe, then boom big crackdown, just wait.

[Jungian]

The governaments have seen how poorly Bitcoin protects privacy, now they let Darknet markets grow big again, letting people think they are safe, then boom big crackdown, just wait.

I think you are underestimating the privacy of Bitcoin and overestimate how competent government is. It took them a huge amount of time and effort to take down silk road and that site was not very professionally ran. Agora is probably a level or two above what silk road ever was. And even if they are taken down, another one is up the next moment. It's still very safe for buyers and vendors compared to going to the streets.

And BTC was not the weak link in silk road I think.

But yeah, we need more privacy

[kazuki49]

The governaments have seen how poorly Bitcoin protects privacy, now they let Darknet markets grow big again, letting people think they are safe, then boom big crackdown, just wait.

I think you are underestimating the privacy of Bitcoin and overestimate how competent government is.

I have seen enough evidence thats the other way around, the governments are not dumb, they have time on their side and the judge of the silkroad case said Bitcoin traceability was vital in the process. I despise drugs and its culture but I know an orwellian tool when I see one.

[TrueCryptonaire]

As soon as you tell your public adress your transactions are, well, public information.

Monero offers enough privacy for users, and most of us want to have our privacy especially with the majroity of money. Some smaller amounts - who cares if they are private or not.

[TrueCryptonaire]

The governaments have seen how poorly Bitcoin protects privacy, now they let Darknet markets grow big again, letting people think they are safe, then boom big crackdown, just wait.

I think you are underestimating the privacy of Bitcoin and overestimate how competent government is.

I have seen enough evidence thats the other way around, the governments are not dumb, they have time on their side and the judge of the silkroad case said Bitcoin traceability was vital in the process. I despise drugs and its culture but I know an orwellian tool when I see one.

I agree. Governement is not dumb.
If they see it interesting enough to break a trading market, they will do it.
Sure it takes time as you need to do the research to spot the weakneses but generally governements have enough resources to perform even bigger tasks. After all, they have tax payers money which they can spend on hiring the best and smartest people to work for them if they have enough incentive to do so.

[megadeth]

Adding to my stash under 50 cents. Liking this.

[dnaleor]

I'm still not sold that disinflation is better than regular ol' inflation (ala 1% / 2% in perpetuity) but it serves as a useful tool to replace lost coins and keep the total float in the tens of millions.

the problem with an exponential growing monetary supply is that the coin isn't good for a store of value function.
inflation of 1% annually means that the number coins is doubled every 70 years.
If inflation % slowly goes down, you know that the next year the coin value will be diluted less than the previous year.
If  coin has an exponential monetary base,  every year the same value needs to be absorbed by the market. It never goes down.
Think about gold... Is it is a store of value because the amount is limited? not really imho, it is because each year less and less gold can be digged up. We know that some asteroids contain gold. If we manage to get that gold, the price will drop. but the total number of gold in the universe is still finite...

Imho the best distribution is a coin with a fixed block reward:

edit: the "1COIN" is a hypothetical coin that has 1 coin as block reward every minute.

[OrientA]

Adding to my stash under 50 cents. Liking this.

The price is around 50c for some time.

[smooth]

I'm still not sold that disinflation is better than regular ol' inflation (ala 1% / 2% in perpetuity) but it serves as a useful tool to replace lost coins and keep the total float in the tens of millions.

the problem with an exponential growing monetary supply is that the coin isn't good for a store of value function.
inflation of 1% annually means that the number coins is doubled every 70 years.
If inflation % slowly goes down, you know that the next year the coin value will be diluted less than the previous year.
If  coin has an exponential monetary base,  every year the same value needs to be absorbed by the market. It never goes down.
Think about gold... Is it is a store of value because the amount is limited? not really imho, it is because each year less and less gold can be digged up. We know that some asteroids contain gold. If we manage to get that gold, the price will drop. but the total number of gold in the universe is still finite...

Imho the best distribution is a coin with a fixed block reward:

edit: the "1COIN" is a hypothetical coin that has 1 coin as block reward every minute.

There is something peculiar about these charts because the literal number of coins is fairly arbitrary. In the long term XMR and 1COIN are exactly the same right? But that is not apparent from the charts at all.

[GingerAle]

Adding to my stash under 50 cents. Liking this.

The price is around 50c for some time.

yes as some observer noted, we seem to be in a phase where we think 50 cents is normal.