[XMR] Monero Speculation

[smooth]

with all the (cloud) mining companies getting into trouble in the bitcoin space right now, is it possible that they will turn their eyes towars xmr, since the required hardware is cheaper to obtain/produce/run?

I dont know if it really works on an industrial scale, but for a hobby miner GPU/CPU equipment is much less risky because it has other value. If the coin drops and/or difficulty rises you can still sell it as used computer gear, but specialized mining gear rises and falls in value with the coin itself.

[jehst]

with all the (cloud) mining companies getting into trouble in the bitcoin space right now, is it possible that they will turn their eyes towars xmr, since the required hardware is cheaper to obtain/produce/run?

I dont know if it really works on an industrial scale, but for a hobby miner GPU/CPU equipment is much less risky because it has other value. If the coin drops and/or difficulty rises you can still sell it as used computer gear, but specialized mining gear rises and falls in value with the coin itself.

Competing with a billion CPUs doesn't sound fun. And a billion CPUs mining is what could happen if a cpu-mined coin had a mega-bubble and the entire world realized they could mine it.

[nioc]

If it was because of a mega bubble I think you would be having fun

[ArticMine]

... or some people decide to save on their heating costs http://listsbuzz.com/top-10-coldest-countries-in-the-world/

[nioc]

... or some people decide to save on their heating costs http://listsbuzz.com/top-10-coldest-countries-in-the-world/

You've said that many times and I just now connected it with your name

[jehst]

... or some people decide to save on their heating costs http://listsbuzz.com/top-10-coldest-countries-in-the-world/

Well energy is cheap enough in Russia (which has the majority of the population of that list) that investment electric heaters in the form of CPUs probably wouldn't be attractive compared to natural gas or oil unless there's a megabubble anyway.

[Brilliantrocket]

with all the (cloud) mining companies getting into trouble in the bitcoin space right now, is it possible that they will turn their eyes towars xmr, since the required hardware is cheaper to obtain/produce/run?

I dont know if it really works on an industrial scale, but for a hobby miner GPU/CPU equipment is much less risky because it has other value. If the coin drops and/or difficulty rises you can still sell it as used computer gear, but specialized mining gear rises and falls in value with the coin itself.

Competing with a billion CPUs doesn't sound fun. And a billion CPUs mining is what could happen if a cpu-mined coin had a mega-bubble and the entire world realized they could mine it.

Mining isn't about you being able to make money. It isn't about designing something so that some people can have a competitive advantage and rake in lots of money. It's about securing the network. The entire world mining would actually be ideal. The more decentralization, the better.

[jehst]

with all the (cloud) mining companies getting into trouble in the bitcoin space right now, is it possible that they will turn their eyes towars xmr, since the required hardware is cheaper to obtain/produce/run?

I dont know if it really works on an industrial scale, but for a hobby miner GPU/CPU equipment is much less risky because it has other value. If the coin drops and/or difficulty rises you can still sell it as used computer gear, but specialized mining gear rises and falls in value with the coin itself.

Competing with a billion CPUs doesn't sound fun. And a billion CPUs mining is what could happen if a cpu-mined coin had a mega-bubble and the entire world realized they could mine it.

Mining isn't about you being able to make money. It isn't about designing something so that some people can have a competitive advantage and rake in lots of money. It's about securing the network. The entire world mining would actually be ideal. The more decentralization, the better.

I was speaking from the perspective of a professional miner who had switched from mining BTC to a CPU coin.

[Brilliantrocket]

with all the (cloud) mining companies getting into trouble in the bitcoin space right now, is it possible that they will turn their eyes towars xmr, since the required hardware is cheaper to obtain/produce/run?

I dont know if it really works on an industrial scale, but for a hobby miner GPU/CPU equipment is much less risky because it has other value. If the coin drops and/or difficulty rises you can still sell it as used computer gear, but specialized mining gear rises and falls in value with the coin itself.

Competing with a billion CPUs doesn't sound fun. And a billion CPUs mining is what could happen if a cpu-mined coin had a mega-bubble and the entire world realized they could mine it.

Mining isn't about you being able to make money. It isn't about designing something so that some people can have a competitive advantage and rake in lots of money. It's about securing the network. The entire world mining would actually be ideal. The more decentralization, the better.

I was speaking from the perspective of a professional miner who had switched from mining BTC to a CPU coin.

Ah ok.

[jehst]

with all the (cloud) mining companies getting into trouble in the bitcoin space right now, is it possible that they will turn their eyes towars xmr, since the required hardware is cheaper to obtain/produce/run?

I dont know if it really works on an industrial scale, but for a hobby miner GPU/CPU equipment is much less risky because it has other value. If the coin drops and/or difficulty rises you can still sell it as used computer gear, but specialized mining gear rises and falls in value with the coin itself.

Competing with a billion CPUs doesn't sound fun. And a billion CPUs mining is what could happen if a cpu-mined coin had a mega-bubble and the entire world realized they could mine it.

Mining isn't about you being able to make money. It isn't about designing something so that some people can have a competitive advantage and rake in lots of money. It's about securing the network. The entire world mining would actually be ideal. The more decentralization, the better.

I was speaking from the perspective of a professional miner who had switched from mining BTC to a CPU coin.

Ah ok.

Yeah, I wouldn't mind an extremely high priced XMR and a billion computers mining it at all.

[GingerAle]

with all the (cloud) mining companies getting into trouble in the bitcoin space right now, is it possible that they will turn their eyes towars xmr, since the required hardware is cheaper to obtain/produce/run?

I dont know if it really works on an industrial scale, but for a hobby miner GPU/CPU equipment is much less risky because it has other value. If the coin drops and/or difficulty rises you can still sell it as used computer gear, but specialized mining gear rises and falls in value with the coin itself.

Competing with a billion CPUs doesn't sound fun. And a billion CPUs mining is what could happen if a cpu-mined coin had a mega-bubble and the entire world realized they could mine it.

Mining isn't about you being able to make money. It isn't about designing something so that some people can have a competitive advantage and rake in lots of money. It's about securing the network. The entire world mining would actually be ideal. The more decentralization, the better.

I was speaking from the perspective of a professional miner who had switched from mining BTC to a CPU coin.

Ah ok.

Yeah, I wouldn't mind an extremely high priced XMR and a billion computers mining it at all.

Yes yes!!! Especially if they were all full-node non-pool CPU miners.

[jehst]

with all the (cloud) mining companies getting into trouble in the bitcoin space right now, is it possible that they will turn their eyes towars xmr, since the required hardware is cheaper to obtain/produce/run?

I dont know if it really works on an industrial scale, but for a hobby miner GPU/CPU equipment is much less risky because it has other value. If the coin drops and/or difficulty rises you can still sell it as used computer gear, but specialized mining gear rises and falls in value with the coin itself.

Competing with a billion CPUs doesn't sound fun. And a billion CPUs mining is what could happen if a cpu-mined coin had a mega-bubble and the entire world realized they could mine it.

Mining isn't about you being able to make money. It isn't about designing something so that some people can have a competitive advantage and rake in lots of money. It's about securing the network. The entire world mining would actually be ideal. The more decentralization, the better.

I was speaking from the perspective of a professional miner who had switched from mining BTC to a CPU coin.

Ah ok.

Yeah, I wouldn't mind an extremely high priced XMR and a billion computers mining it at all.

Yes yes!!! Especially if they were all full-node non-pool CPU miners.

An additional side-effect of a billion people each gaining small amounts of XMR is a billion potential customers for a business that accepts XMR. In the current situation, 3600 bitcoin is awarded to perhaps a few thousand professional miners per  day. The miners need to sell a portion of those BTC to cover costs. The rest is profits going to a few thousand people.

In a situation where a billion CPUs dominate XMR mining, you'd have hundreds of millions of people whose equipment and electricity costs are basically negligible sunk costs. They're just receiving XMR and they will spend it all kinds of things. A real economy. The endgame of a CPU/GPU coin is drastically different in ways few people have thought about.

The near-term game for both is the same. 99%+ speculation.

[dnaleor]

XMR is dirt cheap now. I'm buying small amounts daily

[jehst]

back to 0.0011 or even 0.001 ?
monero looks weak, are all the big fish concentrated on btc? or even on chf ?  

who is buying? who is selling?

i buy slowly slowly

`
I have already reached my long-term XMR holdings goal as a percentage of the eventual ~18.x+ million, so I am not going to support the price here at .001. If anything, I'll donate more to the XMR projects. But if we reach .0005 to .0008, it might be too tempting to resist picking up some more.
Keep in mind where we're going to be in the medium term. Look at the numbers. Bitcoin will likely have another major rally sometime around its blockhalving.

Emission:
https://bitcointalk.org/index.php?topic=702140.msg8108185#msg8108185
When bitcoin has its blockhalving in ~July 2016, XMR's emission is going to be down to ~8,000 coins per day instead of today's ~17,000.  What does that mean?

8,500 * .001 * $500 ( Let's be optimistic and say that bitcoin has recovered to $500 before it starts its next major rally.) = $4250 per day to buy every coin.

$4250? How many XMR supporters do you think it would take to dry up the entire daily supply of XMR and push its price upward during a bitcoin rally in 2016? It's simply not realistic to have a ~8,500 coin/day XMR emission and a .001 price. The price is going to go up and no one is going to be able to complain about anything because we are bumping these XMR threads every day and telling everyone exactly what's going to happen.

EDIT: Fixed numbers.

[canth]

back to 0.0011 or even 0.001 ?
monero looks weak, are all the big fish concentrated on btc? or even on chf ?  

who is buying? who is selling?

i buy slowly slowly

`
I have already reached my long-term XMR holdings goal as a percentage of the eventual ~18.x+ million, so I am not going to support the price here at .001. If anything, I'll donate more to the XMR projects. But if we reach .0005 to .0008, it might be too tempting to resist picking up some more.
Keep in mind where we're going to be in the medium term. Look at the numbers. Bitcoin will likely have another major rally sometime around its blockhalving.

Emission:
https://bitcointalk.org/index.php?topic=702140.msg8108185#msg8108185
When bitcoin has its blockhalving in ~July 2016, XMR's emission is going to be down to ~3,500 coins per day instead of today's ~17,000.  What does that mean?

3,500 * .001 * $500 ( Let's be optimistic and say that bitcoin has recovered to $500 before it starts its next major rally.) = $1750 per day to buy every coin.

$1750? How many XMR supporters do you think it would take to dry up the entire daily supply of XMR and push its price upward during a bitcoin rally in 2016? It's simply not realistic to have a ~3,500 coin/day emission and a .001 price. And no one is going to be able to complain about anything because we are bumping these XMR threads every day and telling everyone exactly what's going to happen.

+1 - I too have reached the amount I want to hold, given current prices. Of course a 50% dip from here could definitely change my mind. In the meantime, the emission rate is what it is - a distribution mechanism and given the decreasing prices, I would imagine that XMR should end up being distributed relatively widely.

[vince232]

what do you think will be the price of xmr in 2016? its confusing with all those numbers

[explorer]

what do you think will be the price of xmr in 2016? its confusing with all those numbers

Yet another number 

[vince232]

what do you think will be the price of xmr in 2016? its confusing with all those numbers

Yet another number 

well im hoping it will be simple like 0.1/0.001/0.5. like that figures

[papa_lazzarou]

what do you think will be the price of xmr in 2016? its confusing with all those numbers

Yet another number 

well im hoping it will be simple like 0.1/0.001/0.5. like that figures

Let's just say that, in 2016, XMR price certainly won't be 30 cents.

[binaryFate]

What price should we reach to break the long term down trend that was resumed recently?