[XMR] Monero Speculation

[owm123]

There are few reasons why xmr is not used widely (maybe there is some limited use, i dont know) in darknet. In my view, the top reasons are:

1. People still think bitcoins is anonymous and private, or at least anonymous and private just enough.
2. There is fair amount of onion websites for buying bitcoins, block exploring, mining pools, etc. For monero, there is none.
3. You can get/sell bitcions relatively easy for cash in real life as compared to xmr, without using exchanges or any websites.
4. These days, much darknet might be either scam or run by feds. Scamers just want to get your most valuable coins, and for feds, bitcion is just perfect.

Let's add:

5. There's an expertise cost with implementing Monero that while not steep for most DN Operators, it would be steep for for their clients and most likely would be considered steep given the limited use of Monero--I'm basing the latter part of this statement on the administrative cost reasons for not adopting Monero cited by some of the companies and organizations I contacted on the latest donation push.

6. DN Operators might not know enough about Monero. Anyone who has spent a few months in this space is bombarded with claims, counter-claims, white papers, FUD, paid media, dirty media..... It will take some time for everyone to separate fact from fiction. There's still two coins with some of the worst privacy attributes imaginable holding spots above Monero in market cap, so it may take some time for the perception to catch up with the reality.

7. No multi-sig.  (Although XMR is the perfect on/off ramp.)

8. Most volume on one US-based exchange.  (We want RPEX.i2p and FLUFFEX.onion!!!)

9. Drug-addled junkies and child abusers prefer Dash.  (GLWT, the reason Dash hasn't been busted is its usefulness as a honey pot.)

So what would be first steps to make xmr more used in darknet? GUI, exchanges, monero related onion websites?

Or maybe monero does not need to be associated at all with darknet? Maybe the last thing monero needs is to make headlines that xmr is now the main currency used for buying drugs, weapons or worse?

[1715150115]

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[iCEBREAKER]

So what would be first steps to make xmr more used in darknet? GUI, exchanges, monero related onion websites?

Exactly what we're doing now:

https://forum.getmonero.org/7/open-tasks

https://forum.getmonero.org/8/funding-required

https://forum.getmonero.org/9/work-in-progress

Build it and they will come!

[macsga]

Would like to hear your mining XMR vs buying comments now as compared to your comments about mining BTC vs buying in 2012. Hopefully those who are mining XMR now (or buying 1 XMR a day) will be rewarded as well as you were for your wise decision in 2012.

Of all the alt coins, Monero seems to have the most people who were early BTC adopters. Maybe they see a pattern ready to repeat itself?

In my opinion, it all makes sense when you compare what the network production/equity is now, with the one that will be, when the Asic miners come in. If you think about it a bit; the current exchange rate is about $12 for 1BC. That means you need about 100BC or $1200 for a BFL, SC and 40GH/s. You need about 100 days, to produce 100BC at a rate of 1BC/day with an average setup that sets you back about $1000 to $1200 (a couple of 5970s, a couple of 6870s, and some 6950s) and gives you 2.5GH/s.

Now, lets project this for a while to after 6 months to 1 year. By that time, lets asume that EVERYONE (who can afford it) will mine with an asic by then. The difficulty should respectively rise to actively produce an average for 40GH/s lets say 1BC/day. This means on a direct comparison that your (future) 40GH/s equals with the (today's) 2.5GH/s. Respectively you will be at the same position minus the initial 100BC you gave to buy the asic, minus the cost of the videocards (if you don't manage to sell them, or want to keep them anyway).

It's all about the Benjamins gentlemen. My advice is (that's what I'm gonna do) to quit mining and while the price is still low; I'll prefer buying 1BC per day. When this won't be feasible anymore, I will have a fair amount of BCs to buy myself a couple of asics at 1/3 or even less of the current price... and won't mind about the loss. Of course I'll stand out from mining for a fair amount of time, but what is time? Isn't money..?

I remember that we were not many that could understand the semantics of mining back then. Still, I'm happy that my thesis stands strong after 4 years into cryptoworld. A friend and I, had thought it over several times (mining vs buying). Both had their risks, but at the time, it was not very easy to buy bitcoins (required quite a lot of time for the bank wire to go through - up to a month). So mining was our only (doable) option if we wanted some coins. Still; we got our ass kicked by BFL back then...

With XMR things are a bit different. People can buy a huge amount if they want and they won't have to use banks to do so; which in my case is ultra convenient (because of the capital controls we now have in Greece). As I said earlier in this thread, I don't rule out the possibility XMR will go down to zero, as well as it goes up to 1:1 with BTC. Nevertheless both scenarios are so equally possible (and impossible) at the same time.

I am still accumulating at this point and don't mind for mining (I'm doing it for the sport... ). Fortunately, I didn't spend my play money all at once; I think I can get some more candy before we go back up.

PS: Thanks for the memorabilia!

[owm123]

So what would be first steps to make xmr more used in darknet? GUI, exchanges, monero related onion websites?

Exactly what we're doing now:

https://forum.getmonero.org/7/open-tasks

https://forum.getmonero.org/8/funding-required

https://forum.getmonero.org/9/work-in-progress

Build it and they will come!

This topic was already raised recently on r/Monero, but good start would be to not block tor users on the form. All three links behind cloudflair. That's what I get when I click the three links above (all behind cloud fair): https://i.imgur.com/Ur4TuRu.jpg

p.s. A reasonable reasons were made on reddit why tor users are blocked and I'm ok (i think) with it for now, but I still think that if monero wants to go into darknet, it needs to embrace tor and tor users, not to punish them with captchas and cloudflare.

[dEBRUYNE]

A second update from our part time developer tewinget on documentation and cleanup of source code -> https://forum.getmonero.org/9/work-in-progress/2373/documentation-and-cleanup-of-source-code?sort=date_desc

[rpietila]

buying drugs, weapons or worse

I don't know about worse, but drugs are for regaining consciousness and weapons for keeping the powers in check, serving the people.

...so many of these meant-for-common-truths are actually false. Next is: "who would pay for the school and doctors"? (both are unneeded)

[smooth]

This topic was already raised recently on r/Monero, but good start would be to not block tor users on the form. All three links behind cloudflair. That's what I get when I click the three links above (all behind cloud fair): https://i.imgur.com/Ur4TuRu.jpg

I just tried accessing the forum via Tor and I was not blocked nor given a captcha. I don't know why the difference exists.

[owm123]

This topic was already raised recently on r/Monero, but good start would be to not block tor users on the form. All three links behind cloudflair. That's what I get when I click the three links above (all behind cloud fair): https://i.imgur.com/Ur4TuRu.jpg

I just tried accessing the forum via Tor and I was not blocked nor given a captcha. I don't know why the difference exists.

It depends on the exit nodes. Sometimes you are lucky and get exit node which is not black-listed by cloudflare. Sometimes you dont.

[nioc]

I think the real takeaway is that regardless of whether you mine or buy, get some..
  
If you could go back to 2012, would you haggle between the pros and cons of mining vs. buying?  No.  You would say, "I don't care what you do - get some bitcoins, keep them safe, and start thinking about building a business or service that will use them."  
  
Even by reading these words you are a player in a very complex game, but that doesn't mean you're entitled to win (regardless of easy winning may be).  So pull a Shia LaBouf

What is the purpose of compare Monero in 2015 to bitcion in 2012?

SIMPLE: market sentiment is very similar

Remember this is a psychologically driven market. People panic and rejoice and go on emotion. Right now sentiment is STAGNANT.

Meaning we are likely near a bottom or will be getting near that bottom in the next few months.

Hence my recent posts alluding to being a root vegetable.  Patiently waiting for the 0.9 release   I believe this is needed before any promotion of MoneroDice will be done.

I seem to have acquired more Monero while I was sleeping

[chennan]

I seem to have acquired more Monero while I was sleeping

Haha, nice! Do you just set it on auto bet and leave it going all night long? Risky move, but if you profited, good for you!

Hopefully some more casinos will adopt XMR/be made for XMR... I think that is one of the key ingredients for any coin to become successful.

[americanpegasus]

Hey all, I know we nerd it up and joke around here a lot, and sometimes it's easy to lose sight of the forest for the trees.  
  
Here's a few links and a small reminder that Monero is not some Dungeons & Dragons nerd toy on the internet - it is a financial ark that is the only thing that will save us from an economic extinction level event that is on the way due to central mismanagement of fiat:  
  
 
  
Banks Will Seize Deposits During the Next Crisis
http://www.zerohedge.com/news/2015-10-06/how-and-why-banks-will-seize-deposits-during-next-crisis  
  
Something really bad happened in September, and we're not entirely sure what yet.
http://investmentresearchdynamics.com/a-liquidity-crisis-hit-the-banking-in-september/  
  
Has the quadrillion dollar derivatives bubble already begun to collapse?  
http://investmentresearchdynamics.com/something-blew-up-in-the-global-financial-system/  
  
3-month US treasury yields are at zero percent and that's never happened before
http://www.marketwatch.com/story/treasury-yields-inch-higher-as-investors-brace-for-earnings-bond-sales-2015-10-06  
  
What we are doing is possibly one of the most important things on the planet, whether you believe it or not.  The world is not going back to precious metals.  This is a live beta test of what will become the future backbone of the entire global financial system, and you are one of the lucky few who gets to participate.  It's an open invitation, but the beauty is that most people don't ever show up.

[nioc]

I seem to have acquired more Monero while I was sleeping

Haha, nice! Do you just set it on auto bet and leave it going all night long? Risky move, but if you profited, good for you!

Hopefully some more casinos will adopt XMR/be made for XMR... I think that is one of the key ingredients for any coin to become successful.

Not on MoneroDice if that's what you mean.  I had a bid filled a bit lower than the one I just missed out on a few days ago.

no worries. Sadly the bears will keep stomping on it. Pretty sure you will get your XMR at the desired price.

Yes, no worries

[americanpegasus]

no worries. Sadly the bears will keep stomping on it. Pretty sure you will get your XMR at the desired price.

Yes, no worries

 
  
  As always, people in 2015 aren't bitching about whether they bought bitcoin in 2010 at 30 cents vs. 50 cents.  
  
The important thing is to get onboard and start improving whatever you can.  Once the GUI comes out (or ideally before) start trying to do some transactions with it, and ask people to pay for goods and services with it.

[HCLivess]

you better buy XMR, because otherwise americanpegasus will lose his house

[americanpegasus]

you better buy XMR, because otherwise americanpegasus will lose his house

 
  
I like your profile quote.  
  
Also the great divorce crash of 2013 already took the house, but don't worry.  The important thing was to get out of there while it was still cheap, before the crypto asset division would have cost me millions.   

 
Sure honey, you keep that expensive house with the rising property taxes and barely sustainable mortgage.  I'll keep these imaginary internet fun bucks.  Deal? 

[bitebits]

Also the great divorce crash of 2013 already took the house, but don't worry.  The important thing was to get out of there while it was still cheap, before the crypto asset division would have cost me millions.  

Sure honey, you keep that expensive house with the rising property taxes and barely sustainable mortgage.  I'll keep these imaginary internet fun bucks.  Deal?  

I so hope to be able to quote your today's posts in a few years time americanpegasus, that would be epic!
And even if I can't, fully enjoy reading your posts today anyway

Here's to the Crazy Ones

[Mr Felt]

Also the great divorce crash of 2013 already took the house, but don't worry.  The important thing was to get out of there while it was still cheap, before the crypto asset division would have cost me millions.  

Sure honey, you keep that expensive house with the rising property taxes and barely sustainable mortgage.  I'll keep these imaginary internet fun bucks.  Deal?  

I so hope to be able to quote your today's posts in a few years time americanpegasus, that would be epic!
And even if I can't, fully enjoy reading your posts today anyway

Here's to the Crazy Ones

I forgot about that commercial.  Thanks for posting it.

[smoothie]

Hey all, I know we nerd it up and joke around here a lot, and sometimes it's easy to lose sight of the forest for the trees.  
  
Here's a few links and a small reminder that Monero is not some Dungeons & Dragons nerd toy on the internet - it is a financial ark that is the only thing that will save us from an economic extinction level event that is on the way due to central mismanagement of fiat:  
  
 
  
Banks Will Seize Deposits During the Next Crisis
http://www.zerohedge.com/news/2015-10-06/how-and-why-banks-will-seize-deposits-during-next-crisis  
  
Something really bad happened in September, and we're not entirely sure what yet.
http://investmentresearchdynamics.com/a-liquidity-crisis-hit-the-banking-in-september/  
  
Has the quadrillion dollar derivatives bubble already begun to collapse?  
http://investmentresearchdynamics.com/something-blew-up-in-the-global-financial-system/  
  
3-month US treasury yields are at zero percent and that's never happened before
http://www.marketwatch.com/story/treasury-yields-inch-higher-as-investors-brace-for-earnings-bond-sales-2015-10-06  
  
What we are doing is possibly one of the most important things on the planet, whether you believe it or not.  The world is not going back to precious metals.  This is a live beta test of what will become the future backbone of the entire global financial system, and you are one of the lucky few who gets to participate.  It's an open invitation, but the beauty is that most people don't ever show up.

Not sure if it is the only thing. But there are many aspects of Monero which make it important for people to use.

Anything tangible is not a bad thing to have as long as it has utility or some sort of functional value.

[iCEBREAKER]

So what would be first steps to make xmr more used in darknet? GUI, exchanges, monero related onion websites?

Exactly what we're doing now:

https://forum.getmonero.org/7/open-tasks

https://forum.getmonero.org/8/funding-required

https://forum.getmonero.org/9/work-in-progress

Build it and they will come!

This topic was already raised recently on r/Monero, but good start would be to not block tor users on the form. All three links behind cloudflair. That's what I get when I click the three links above (all behind cloud fair): https://i.imgur.com/Ur4TuRu.jpg

p.s. A reasonable reasons were made on reddit why tor users are blocked and I'm ok (i think) with it for now, but I still think that if monero wants to go into darknet, it needs to embrace tor and tor users, not to punish them with captchas and cloudflare.

If you can't get on a site through tor directly, just add a VPN on top.

[Harpua]

Heads up: 
 
Over at http://www.reddit.com/r/wallstreetbets I'll be conducting a

HVIAmA (Halloween Video Ask Me Anything) tomorrow at 1PM ET about Monero. 

All of my answers will be in the form of videos, and with successive questions participants will unlock new halloween costumes.
 
This is a subreddit filled with people who like speculative and risky trades on the stock market and has showed a tepid reception to cryptocurrency in the past.  My job will be to convince them that Monero is not a scam, and is a genuine and honest project filled with good intentions.  It might be risky, but it's legit as it gets. 
 
If you have the time, tune in.

If any of you guys are online right now, you should definitely check out this... Didn't know americanpegasus was such a comic rather than some crazy speculative neckbearded dork.  IMO, he's killing it and generally getting a lot of people's attention on there; so if you guys have time, come on out to /r/wallstreetbets and check it out.