[XMR] Monero Speculation

[americanpegasus]

The solution is the senior pirate distributes one coin to each priate, except the second most senior pirate gets no coins and he keeps M+2-N coins for himself.

 
  
There are 7 billion pirates (sorry, I meant n pirates) who all are using silver coins with different Gods drawn on them to transact with.  Pirate #1 wants all n-pirates to adopt new and improved gold coins with no Gods drawn on them.  Luckily, he is an idealist and isn't necessarily looking for maximum profitability in this game; his only goal is to convert as many of the pirates as possible to the magical gold coin standard.  Right.... I forgot to mention that these are magic gold coins which can be instantly teleported to anyone on the planet, and no one has to know about it.  Despite the advantages though, this might be an uphill battle.  Most pirates are deeply religious and deeply value their silver with Gods drawn on it.  These new magical gold coins might be superior, but they also use witchcraft (which is untrusted and considered dangerous by many).  
  
Overnight millions of magical golden coins begin to appear in Pirate #1's lair.  This is because he is the first believer, and after all: they have to go somewhere.  The power of these coins is such that anyone who makes a statement of faith: "I believe in the power of the magical gold coin." will also be able to share in the miraculous appearance of gold coins in their lair (although the total amount that appears will slowly decrease over time to a minimum).  To compound the problem, it is possible to compete for a greater share of the magical gold coins by building ornate altars in your lair, the materials of which can only initially be bought with the holy-stamped silver (because no one accepts the magical gold as money yet).  
  
Assuming that Pirate #1 has the ability to immediately contact up to 1% of the pirates (of varying dispositions towards the witchcraft that these coins use, and who also have varying connections to eventually contact the other 99% of pirates), and his goal is to convince as many as possible to value the magical golden coins over the holy silver coins, what is his ideal strategy?  Historical precedent?  
  

[fortif78]

The solution is the senior pirate distributes one coin to each priate, except the second most senior pirate gets no coins and he keeps M+2-N coins for himself.

 
  
There are 7 billion pirates (sorry, I meant n pirates) who all are using silver coins with different Gods drawn on them to transact with.  Pirate #1 wants all n-pirates to adopt new and improved gold coins with no Gods drawn on them.  Luckily, he is an idealist and isn't necessarily looking for maximum profitability in this game; his only goal is to convert as many of the pirates as possible to the magical gold coin standard.  Right.... I forgot to mention that these are magic gold coins which can be instantly teleported to anyone on the planet, and no one has to know about it.  Despite the advantages though, this might be an uphill battle.  Most pirates are deeply religious and deeply value their silver with Gods drawn on it.  These new magical gold coins might be superior, but they also use witchcraft (which is untrusted and considered dangerous by many).  
  
Overnight millions of magical golden coins begin to appear in Pirate #1's lair.  This is because he is the first believer, and after all: they have to go somewhere.  The power of these coins is such that anyone who makes a statement of faith: "I believe in the power of the magical gold coin." will also be able to share in the miraculous appearance of gold coins in their lair (although the total amount that appears will slowly decrease over time to a minimum).  To compound the problem, it is possible to compete for a greater share of the magical gold coins by building ornate altars in your lair, the materials of which can only initially be bought with the holy-stamped silver (because no one accepts the magical gold as money yet).  
  
Assuming that Pirate #1 has the ability to immediately contact up to 1% of the pirates (of varying dispositions towards the witchcraft that these coins use, and who also have varying connections to eventually contact the other 99% of pirates), and his goal is to convince as many as possible to value the magical golden coins over the holy silver coins, what is his ideal strategy?  Historical precedent?  
  

bravo. 

[jwinterm]

The solution is the senior pirate distributes one coin to each priate, except the second most senior pirate gets no coins and he keeps M+2-N coins for himself.

 
  
...what is his ideal strategy?  Historical precedent?  
  

Lie to the other pirates and tell them that the magical gold coins have an invisible drawing of a new, more powerful god invisibly drawn on them?

[TrueCryptonaire]

Good Morning all!
I bought a few hundred more.
It is a good way to start a rainy autumn day by buying a few hundred Moneros.
If you guys will not do it, I will buy even more in front of you.  
Remember what Risto said earlier: It is easy to sell large amounts of Moneros but hard to rebuy them cheaper. Personally I've noticed too much fishing will not take me anywhere and the emission is now pretty easy to swallow even if the price is higher. We are talking here only about thousands of dollars per day of emission.

P.S. I have a full confirmation of identity on Poloniex. It enables me to withdraw funds whenever I buy and the withdrawal is recommneded so that you do not fall in the trap of selling too early (this is a general notice).  

[TrueCryptonaire]

Been buying a couple more coins.
Any idea where will be the next level of resistance? 

[Shrikez]

Been buying a couple more coins.
Any idea where will be the next level of resistance? 

you're not alone, as for buying and wondering

[TrueCryptonaire]

Been buying a couple more coins.
Any idea where will be the next level of resistance? 

you're not alone, as for buying and wondering

Chartwise the next level of resistance is 0.0025 and if we go beyond it, the next resistance level is basically around 0.0043 and if even this will be broken, then it is somewhere around 0.0058-0.006 from summer 2014 where Risto dumped 100 btc's worth of Moneros. 

[dEBRUYNE]

Been buying a couple more coins.
Any idea where will be the next level of resistance? 

you're not alone, as for buying and wondering

Chartwise the next level of resistance is 0.0025 and if we go beyond it, the next resistance level is basically around 0.0043 and if even this will be broken, then it is somewhere around 0.0058-0.006 from summer 2014 where Risto dumped 100 btc's worth of Moneros. 

You forgot the 0.00265-0.0028 resistance area.

[owm123]

Do you think that the current sudden and big monero pump, is just a precursor of an imminent large dump? Or maybe rather, ppl buy suddenly for some other reason?

[GingerAle]

Do you think that the current sudden and big monero pump, is just a precursor of an imminent large dump? Or maybe rather, ppl buy suddenly for some other reason?

Just look at the history, IMO, draw your own conclusions. I haven't seen a rise without a fall, but the general trend usually holds.

[nioc]

Do you think that the current sudden and big monero pump, is just a precursor of an imminent large dump? Or maybe rather, ppl buy suddenly for some other reason?

Pump? we are at 52 cents.

But yes I agree things are different very recently.


1) anticipation of the results of development happening very soon.

2) whale games

3) followed by sheep/lemmings


As my fiat keeps evaporating I am just watching.

[GingerAle]

I speculate that a currency network is only as strong as its network hashrate!

https://forum.getmonero.org/8/funding-required/2355/improved-nvidia-mining-software

whales, investors, and others - please consider supporting development of optimized and user friendly mining software! 

[TrueCryptonaire]

Do you think that the current sudden and big monero pump, is just a precursor of an imminent large dump? Or maybe rather, ppl buy suddenly for some other reason?

If the pump is large (like 10+ % per day) it is unlikely to hold.
As long as the growth is gradual, the trend should continue at least if it plays the same way it has played recently.
I would personally not be that worried about dumps when the bottom is this close. It is more dangerous area when the price is 0.003 and especially if it spikes there too fast (like in 24 hours).
On spring the price continued to pump slowly slowly to 0.003 and after it shot over night to 0.004, we had dump. That type of rises I would personally worry. A few percentage up when the price of the coin is only 0.50-0.6 USD/piece IMO are not that dangerous.

That's my 0.002 XMR.

[TrueCryptonaire]

Somebody put a sell wall at 0.0023.... 

[primer-]

You stole my avatar.. Shame on you..

[GingerAle]

i don't see avatars anymore thank god. Speculate! Monero! Who wants more coffee and psytrance?

[jwinterm]

i don't see avatars anymore thank god. Speculate! Monero! Who wants more coffee and psytrance?

Hipster-troll-dev GingerAle is too cool for avatars? Maybe I'll start signing all my posts with my avatar and a little ~~jw~~ squiggly surrounded initials.

Anyway, looks like some decent buy support since the release of dice site, but if somebody pulls that 60 btc buy wall on polo, I'm betting we're gonna drop right back to around 0.002.



(•_•)
( •_•)>⌐■-■
(⌐■_■)

Deal with it.
~~jw~~

[medusa13]

network hashrate is important, but its not the only number.
15 mh/s are good if an average cpu is able to pull 200h/s. 15mh/s is not good if an average cpu is able to pull 1kh/s.

so if mining software gets faster by lets say 10% but network hashrate only increases by 5%, is this good or bad?

its nice to see some action, wall got partially dumped and moved down to ~210. lets see how it will continue. there are some with a lot of coins that do not want to see price go up just now. but how many coins they are willing to risk for this?

i'm fine with both directions but would slightly prefer down

[TrueCryptonaire]

Okay looks like I need to start buying also.
I have plenty of money left now for Monero so there will be a competition. Today I purchased only a small amount but now I am thinking restarting the real accumulation so please put some coins for sale.

Perhaps I should put a manipulation wall also, what do you guys think?

[luigi1111]

Okay looks like I need to start buying also.
I have plenty of money left now for Monero so there will be a competition. Today I purchased only a small amount but now I am thinking restarting the real accumulation so please put some coins for sale.

Perhaps I should put a manipulation wall also, what do you guys think?

100 BTC would be a show of good faith (don't need to leave it up long).

Edit: leave maybe 50 BTC up after.