[XMR] Monero Speculation

[americanpegasus]

not sure if you guys already heard, but poloniex will require personal info and introduces new stricter withdrawal limits from 20th may onwards. (they also introduced margin trading today)

I wonder how this will influence the price/liquidity short term.

that would totally defeat the purpose of monero, wouldn't it?

No it does not. Install GNU/Linux and keep your moneroj on your own computer under your own control.

 
 
I would like to buy a new Windows box and hold Monero there in cold storage.  I have no interest in learning Linux.  Is there a 'for dummies' guide to applying a graphical Windows shell to moneroj?   
 
Forgive my ignorance.

[GingerAle]

not sure if you guys already heard, but poloniex will require personal info and introduces new stricter withdrawal limits from 20th may onwards. (they also introduced margin trading today)

I wonder how this will influence the price/liquidity short term.

that would totally defeat the purpose of monero, wouldn't it?

No it does not. Install GNU/Linux and keep your moneroj on your own computer under your own control.

 
  
I would like to buy a new Windows box and hold Monero there in cold storage.  I have no interest in learning Linux.  Is there a 'for dummies' guide to applying a graphical Windows shell to moneroj?  
  
Forgive my ignorance.

MoneroX exists, so you can have a "windows shell" for monero.

Also, cold / paper storage is really easy to set up. You can do it with your current windows box. Disconnect your PC from the net (unplug or disconnect wifi) Run simplewallet. Make a new wallet file. Copy down the word see mneumonic thing (on paper). make the password something ridiculous - just mash the keyboard. Copy the wallet address into some other file. Then delete all of the files associated with the wallet.

The only benefit to doing a cold-storage wallet with a live-linux setup is that, technically, those files are still on your hard drive... using the live linux CD prevents this from happening. Or you could find a "secure erase" thing to delete those files.

Also, Ubuntu is reeeaalllly easy. It looks like windows.

[luigi1111]

not sure if you guys already heard, but poloniex will require personal info and introduces new stricter withdrawal limits from 20th may onwards. (they also introduced margin trading today)

I wonder how this will influence the price/liquidity short term.

that would totally defeat the purpose of monero, wouldn't it?

No it does not. Install GNU/Linux and keep your moneroj on your own computer under your own control.

 
  
I would like to buy a new Windows box and hold Monero there in cold storage.  I have no interest in learning Linux.  Is there a 'for dummies' guide to applying a graphical Windows shell to moneroj?  
  
Forgive my ignorance.

MoneroX exists, so you can have a "windows shell" for monero.

Also, cold / paper storage is really easy to set up. You can do it with your current windows box. Disconnect your PC from the net (unplug or disconnect wifi) Run simplewallet. Make a new wallet file. Copy down the word see mneumonic thing (on paper). make the password something ridiculous - just mash the keyboard. Copy the wallet address into some other file. Then delete all of the files associated with the wallet.

The only benefit to doing a cold-storage wallet with a live-linux setup is that, technically, those files are still on your hard drive... using the live linux CD prevents this from happening. Or you could find a "secure erase" thing to delete those files.

Also, Ubuntu is reeeaalllly easy. It looks like windows.

No real need to do that, javascript can generate these accounts a dime-a-dozen.

[nioc]

it was mentioned in the Polo trollbox that the KYC info was only for those trading on margin.

I was unaware of increased withdrawal fees as of the 20th. I guess I'm going to withdraw all my Moneroj as I won't be selling any time soon.

If anybody has the definative info it would be appreciated.  It is difficult to check from work and I've been here 15 hours already.

[mmortal03]

but they would know how much XMR John has, and where he lives. If the government comes and wants to confiscate it, because they believe john is doing some illegal trade or tax evasion or whatever, this is undeniable proof that john has at the minimum x XMR, and he would have to prove that he did not use them in an illegal way.

Is there no plausible deniability here? Couldn't someone just say that they bought them as an investment but their hard drive crashed, so they no longer have the keys? There are a number of different innocuous examples that might be argued. I'm sure there are better ones than my dog ate my private key.

[mrkavasaki]

oh oh ohh doest look that good 
sub 0.002 coins soon!

[futureofbitcoin]

but they would know how much XMR John has, and where he lives. If the government comes and wants to confiscate it, because they believe john is doing some illegal trade or tax evasion or whatever, this is undeniable proof that john has at the minimum x XMR, and he would have to prove that he did not use them in an illegal way.

Is there no plausible deniability here? Couldn't someone just say that they bought them as an investment but their hard drive crashed, so they no longer have the keys? There are a number of different innocuous examples that might be argued. I'm sure there are better ones than my dog ate my private key.

Can't you do that with bitcoin as well? I just feel that it takes away a main advantage of monero over bitcoin. If monero doesn't work significantly better than bitcoin, obviously it won't go mainstream since bitcoin has much greater network effects.

Of course this isn't really a problem of XMR, just the exchange. If volume moves from poloniex to some other exchange it should be okay. Lower xmr prices is good if you really believe in it; more cheap coins.

[cAPSLOCK]

I was unaware of increased withdrawal fees as of the 20th. I guess I'm going to withdraw all my Moneroj as I won't be selling any time soon.

This should be standard operating procedure.  Two words:  Mt. Gox.

[bumpk1nK]

Sold more of my XMR today. Price is right and there are a lot of gud coins to buy.
I still hold a few tho
maybe I will by back more later after
my viral coins go more up in value.

[nioc]

I was unaware of increased withdrawal fees as of the 20th. I guess I'm going to withdraw all my Moneroj as I won't be selling any time soon.

This should be standard operating procedure.  Two words:  Mt. Gox.

Did you notice my "personal text" under my activity?  

[LucyLovesCrypto]

Can you post an easy ubuntu guide or a link to one?

Specifically setting up ubuntu from start to finish on a flash drive and using it to create a cold storage address with simplewallet.

Thanks!

[smooth]

Can you post an easy ubuntu guide or a link to one?

Specifically setting up ubuntu from start to finish on a flash drive and using it to create a cold storage address with simplewallet.

Thanks!

You should take that up on the Monero Support thread or the ANN thread.

[smooth]

but they would know how much XMR John has, and where he lives. If the government comes and wants to confiscate it, because they believe john is doing some illegal trade or tax evasion or whatever, this is undeniable proof that john has at the minimum x XMR, and he would have to prove that he did not use them in an illegal way.

And XMR volume on other exchanges are too low if you want to buy a decent amount. Unless people start moving from poloniex to other exchanges.

Sure, nothing prevents you from living in a police state that requires you to prove your innocence for the most absurd of reasons that is true. But logically that you had coins at some point in the past does not mean you still have them. There are currently no self-reporting requirements that I know of for spending coins, or even for claiming that you just lost them and don't have them any more.

If you want to keep the fact that you have dealt with these coins at all a complete secret, then you probably shouldn't have been using any centralized exchange at all. Did you observe very strong OPSEC practices in dealing with them 100% of the time? If you did you are probably in an extreme minority.

[aminorex]

It is very difficult to get XMR out of Poloniex right now.  Large outgoing transactions fail most of the time.
Anyone keen to get off the platform is going to be tempted to sell. I plan to move some BTC to Poloniex for that reason.

[americanpegasus]

oh oh ohh doest look that good  
sub 0.002 coins soon!

Meh, I'm not impressed.  The fallout amounted to a few cents?  
  
Me and my army are hodl'ing.  
  
Selling while the price is declining under a panic is about the most rookie move in the book.  
  
I will hodl, and as a result, the next leg up will start that much sooner.  
  
This is the power and freedom of truly believing in an asset.  Short term swings don't bother you much.  
  
And I think the next move up may surprise people, so I'm not making any moves right now.   In fact, as an ultra-bull, if I can find some funds in the coming weeks I'll be buying more.  
  
When will I sell of my soldiers?  Not below $5/Monero, if even then.

[americanpegasus]

And the compliance thing does suck, but seriously: this is a US based exchange, and this was obviously inevitable. 
 
Plus, the compliance makes me a lot more comfortable holding large amounts of money on Poloniex.

[hodlmybtc]

Wow Monero margin trading on Polo

Lending out some XMR as a test

[futureofbitcoin]

It's really funny. A month or two back I argued that there's no need for so much privacy. At that time, everyone in the thread was arguing against me saying how useful privacy is blah blah blah.

And so since the value of monero is in its privacy, I brought it up this time saying that it shouldn't be reduced, now everyone is arguing you don't need that much privacy. Whatever. I have no vested interest in seeing monero fail (quite the opposite actually), so I'm happy if this isn't a concern.

What other exchanges besides poloniex has a decent volume?

[hodlmybtc]

Wow Monero margin trading on Polo

Lending out some XMR as a test

You mean we can short XMR now?

Yes, I'm facilitating a couple shorts at the moment

Haters put your money where your mouth is and short XMR

[americanpegasus]

Wow Monero margin trading on Polo

Lending out some XMR as a test

You mean we can short XMR now?

Yes, I'm facilitating a couple shorts at the moment

Haters put your money where your mouth is and short XMR

 
 
And when that inevitable next move up comes, dudes gone get liquidated like-quick. 
 
Shorting Monero would be about the stupidest thing anyone can do, but by all means: now Haters can officially hate.