[XMR] Monero Speculation

[smooth]

Although... the fixed block reward could change things, in the long run even. We are the first coin that is experimenting with this.

DOGE too, although they muddied the waters a bit by going to merged mining, and its also different in that their permanent reward kicks in at around 5% vs. our 1%.  Still, same principle.

Interestingly despite a huge controversy about DOGE's value being destroyed by making it inflationary, it has held up more or less in line with most other coins over the past 18 months (which is to say poorly, but still, in line).

Good point though. We are in somewhat uncharted waters.

[Shrikez]

I lack the competence and eloquence to go on about the market shaping mechanisms occurring in the Monero landscape.

Personally I decided not to bother with trading XMR anymore and stashed them all away at the end of the rainbow.

However I wish the whales and other large sea life would pull  the corks once in a while to allow that market some excitement and spark some interest and consequent buying by the frowned upon (day)traders.
As it stands I observe deliberate price suppression and my small mind can't grasp the reasoning behind it except the most obvious.

Let's face it - and like it or not (I don't) -, speculation is what keeps crypto going until adoption outside of our ivory tower occurs, and that is a long way off.

[obit33]

anyone knows why bitcoin is going up (pretty strong) the last days?

anyone with some TA-skills who can talk some sense about monero-charts?

thanks in advance

[dEBRUYNE]

anyone knows why bitcoin is going up (pretty strong) the last days?

anyone with some TA-skills who can talk some sense about monero-charts?

thanks in advance

Uptrend remains intact, unless the ascending trendline that lies around 0.0019 is breached (it should be noted though that the uptrend isn't really that strong). However, I think unless there will be some notable releases we'll stay in consolidation (or slight decline).

There is strong resistance upto the 0.00265-0.0027 area though.

Visualized:

[dnaleor]

anyone knows why bitcoin is going up (pretty strong) the last days?

anyone with some TA-skills who can talk some sense about monero-charts?

thanks in advance

TA in a volatile market is difficult. The uptrend is broken, but we didn't crash.
I think we are consolidating now above 2 mBTC.

I look at it like this:

*december-february: bottom around 0.001 BTC, with FOMO in between to almost double that (almost 0.002 BTC)
*february - now: bottom around the previous spike (just below 0.002, with some spikes lower, but I disregard those) with FOMO that was 2*the bottom (around 0.004)
*So, next wave could be FOMO towards 0.008 with a bottom around 0.004 BTC? Who knows

if you want a chart, here you go:

Consolidation can continue until early november, but once 0.0027 is broken on volume, I think we will not see sub 0.003 *ever* again.

[obit33]

Thanks,

can I ask which website you guys use for these charts?

best regards

[dEBRUYNE]

Thanks,

can I ask which website you guys use for these charts?

best regards

https://bitcoinwisdom.com/markets/poloniex/xmrbtc

[bitebits]

The problem is that other than speculation there is almost zero adoption, and it isn't coming any time soon.

I do not agree to this. The adoption is not always visible (for consumers), but sure it is under the active radar of companies. There are just too many benenefits. UPS gives a nice insight:
https://longitudes.ups.com/does-global-trade-need-a-global-currency/

However, the current payment, clearing and settlement systems are major bottlenecks to the flow of global trade. They are inefficient, have long settlement times and high-cost fees and exchange rates.

The need for anonymous transaction will come, but even slower. The need however is and will be there: cash is still king because of the anonymous nature of it, we need something similar for online usage. I deeply respect you and the Monero devs for making this increasingly possible.

[ArticMine]

And Denmark seems to be the first one to ban cash.

Wow, I had no idea we were at the point of actual legislation being introduced.

The proposal to ban all cash transactions is being introduced ahead of the Danish election in September, in the hope that cash will be phased out as early as 2016.

Digital transactions are very popular in Denmark with a third of all Danish citizens  using the Danske Bank app, MobilePay, to pay for services and transactions. It’s unlikely that the new proposals to ban all cash transactions will be met with any opposition.

The Danish Chamber of Commerce (Dansk Erhverv) also supported the move, saying it was time shops were given the option of going cash-free.

This is not entirely true. Denmark is not banning cash, what they are doing is giving stores the right not to accept cash. http://www.theguardian.com/world/2015/may/14/no-wallet-no-worries-denmark-considering-cash-free-shops Big difference. In fact given that the popular proprietary debit solution charges a flat 1% to the merchants, this could actually create a market for crypto currencies in person transactions where non existed before.

Also Denmark is a wealthy country with an advanced welfare state. This means that there are very few poor people; the market segement least likely to use debit cards, credit cards or their smartphone app equivalents.

[dnaleor]

I know a store in belgium who doesn't accept cash, even without the legislation that they can or can't do it.
I tried to get them into BTC, but they aren't interested...

Really don't understand why, they pay much more to the card companies...

[ArticMine]

I know a store in belgium who doesn't accept cash, even without the legislation that they can or can't do it.
I tried to get them into BTC, but they aren't interested...

Really don't understand why, they pay much more to the card companies...

In many countries there are no laws requiring a seller or a store to accept cash. What exists are legal tender laws that in effect force a creditor to accept cash for a debt or not be able to enforce the debt in court.

Edit: There may be exceptions where stores are required to accept cash and Denmark may actually be one.

[smoothie]

And Denmark seems to be the first one to ban cash.

Wow, I had no idea we were at the point of actual legislation being introduced.

The proposal to ban all cash transactions is being introduced ahead of the Danish election in September, in the hope that cash will be phased out as early as 2016.

Digital transactions are very popular in Denmark with a third of all Danish citizens  using the Danske Bank app, MobilePay, to pay for services and transactions. It’s unlikely that the new proposals to ban all cash transactions will be met with any opposition.

The Danish Chamber of Commerce (Dansk Erhverv) also supported the move, saying it was time shops were given the option of going cash-free.

This is not entirely true. Denmark is not banning cash, what they are doing is giving stores the right not to accept cash. http://www.theguardian.com/world/2015/may/14/no-wallet-no-worries-denmark-considering-cash-free-shops Big difference. In fact given that the popular proprietary debit solution charges a flat 1% to the merchants, this could actually create a market for crypto currencies in person transactions where non existed before.

Also Denmark is a wealthy country with an advanced welfare state. This means that there are very few poor people; the market segement least likely to use debit cards, credit cards or their smartphone app equivalents.

That is the first step in getting to a cashless society. "Allowing" stores the right to refuse cash as payment.

I mean who would refuse cash if you can use it to buy goods and services?

[smoothie]

I know a store in belgium who doesn't accept cash, even without the legislation that they can or can't do it.
I tried to get them into BTC, but they aren't interested...

Really don't understand why, they pay much more to the card companies...

Are they just really die-hard fans of the card companies? 

Seems illogical why a merchant would not accept cash if he can spend it elsewhere.

They are essentially saying "everyone who has THIS type of payment you can't buy things from me even though I could use that payment type to buy things I need"

[smooth]

I know a store in belgium who doesn't accept cash, even without the legislation that they can or can't do it.
I tried to get them into BTC, but they aren't interested...

Really don't understand why, they pay much more to the card companies...

Are they just really die-hard fans of the card companies? 

Seems illogical why a merchant would not accept cash if he can spend it elsewhere.

They are essentially saying "everyone who has THIS type of payment you can't buy things from me even though I could use that payment type to buy things I need"

I know of one local business in my area that no longer accepts cash. It's an outlet store at a warehouse. They sell supplies retail but the volume is low (you often have to walk back into the warehouse to find someone to process your purchase) but to have to deal with the accounting, storage, etc. of cash would be more hassle than it would be worth for them. Only cards accepted now.

It is true they are potentially turning some customers away, but you get to a point where so many people have cards (including prepaid cards, welfare benefit cards, etc.) that the fraction you are turning away is negligible.

[smoothie]

Just made aware of this site:

http://moneronodes.i2p.xyz



Hopefully more information can be provided via text/charts etc.

[kelsey]

i see monero shills continually trolling litecoin, as if they need to discredit it to overtake it on coinmarketcap. this itself always turns me off monero.

occasionally i get over that and attempt to give monero a go.......

like this morning....well

how in any even remotest dream do you guys think monero has a snow balls chance of even being adopted by even 1/1000th of btt members here let alone anyone else in the world outside?


just curious?

sure you guys will treat it as a troll, but seriously this coins almost unusable in its current state 

is it command line or do i have the wrong client 

[jehst]

Looking at LTC's supply inflation, its level of use, and its userbase (mostly Chinese), I think it is clearly a coin that will be devastated during a Chinese economic correction and greater crypto bear market. Will XMR overtake LTC? That remains to be seen. What I can tell you is that LTC has a hell of a lot more to lose (100 million+ market cap) than XMR does.

[generalizethis]

i see monero shills continually trolling litecoin, as if they need to discredit it to overtake it on coinmarketcap. this itself always turns me off monero.

occasionally i get over that and attempt to give monero a go.......

like this morning....well

how in any even remotest dream do you guys think monero has a snow balls chance of even being adopted by even 1/1000th of btt members here let alone anyone else in the world outside?


just curious?

sure you guys will treat it as a troll, but seriously this coins almost unusable in its current state  

is it command line or do i have the wrong client  

Who is trolling litecoin? I've actually been on the litecoin vs. dash thread discrediting dash. If you're talking about NEMaSCAM's thread, I suggest you look at his or her post history to see what he or she is about.

[hodlmybtc]

Thanks,

can I ask which website you guys use for these charts?

best regards

https://bitcoinwisdom.com/markets/poloniex/xmrbtc

https://cryptrader.com/charts/poloniex/xmr/btc for

It has almost the same functionality as TradingView.

[ArticMine]

i see monero shills continually trolling litecoin, as if they need to discredit it to overtake it on coinmarketcap. this itself always turns me off monero.

occasionally i get over that and attempt to give monero a go.......

like this morning....well

how in any even remotest dream do you guys think monero has a snow balls chance of even being adopted by even 1/1000th of btt members here let alone anyone else in the world outside?


just curious?

sure you guys will treat it as a troll, but seriously this coins almost unusable in its current state  

is it command line or do i have the wrong client  

Who is trolling litecoin? I've actually been on the litecoin vs. dash thread discrediting dash. If you're talking about NEMaSCAM's thread, I suggest you look at his or her post history to see what he or she is about.

One interesting side effect of all of these accusations of shilling and spamming directed at Monero supporters is that should Monero take of, none of the Monero early adopters could be accused of having an
"unfair" advantage.

Edit: As for the lack of an official GUI, this actually makes Monero very attractive to an investor because this causes Monero to have the "right things wrong with it". I learned about this concept in real estate investing where a house with a faeces encrusted bathroom and a solid foundation can be a much better buy than a house with a beautiful clean bathroom, and a foundation about to collapse.