[XMR] Monero Speculation

[r0ach]

/thread

http://bitcointalk.org/index.php?topic=1410245.0

[smooth]

/thread

http://bitcointalk.org/index.php?topic=1410245.0

I agree the accumulation has been quite obvious.

[smooth]

I disagree that Monero is not useful. I store my savings in it. I use it to buy goods using XMR.to. I play games with it at Crypto Kingdom.  Maybe next I'll work out a deal to pay my rent with it. Most importantly I use it to keep as much of my hard earned money out of those grubby banks.

I agree with part of that. For someone who isn't an aggressive speculator, "storing savings" in it is a bit much. Nothing wrong with being a speculator, but it isn't for everyone.

[vuduchyld]

I disagree that Monero is not useful. I store my savings in it. I use it to buy goods using XMR.to. I play games with it at Crypto Kingdom.  Maybe next I'll work out a deal to pay my rent with it. Most importantly I use it to keep as much of my hard earned money out of those grubby banks.

Ballsy.  I like it.  I am going to start using XMR.to for e-liquid on my next order.

I have a jobby job, but I also have a side practice through which I earn, at times of the year, far more than my salary by doing certified business valuations.  In the last six months, I have started to do quite a bit of 409A valuation work for start-ups that are looking to set option strikes.  I'm hoping to start getting paid for as much valuation work as possible in XMR. 

[saddambitcoin]

I disagree that Monero is not useful. I store my savings in it. I use it to buy goods using XMR.to. I play games with it at Crypto Kingdom.  Maybe next I'll work out a deal to pay my rent with it. Most importantly I use it to keep as much of my hard earned money out of those grubby banks.

I agree with part of that. For someone who isn't an aggressive speculator, "storing savings" in it is a bit much. Nothing wrong with being a speculator, but it isn't for everyone.

Right. Depending on the person, buying any amount is more risk than they want to take. There have been two multi-month periods where I could not touch my XMR since it was at a loss. Don't keep any funds you absolutely need to live on in Monero, that's not sane. I think that I am not risky compared to those that take out loans to buy XMR or trade on margin, but some may say I am still risky.

[birr]

You need a cushion of less volatile liquid assets to get you through the doldrums.

[xnova]

...

In the US, at least, that is most likely incorrect.  Crypto doesn't have to convert to USD to be taxable.  For example, the rules are very clear that mining bitcoin counts as income when the coins are received.  And if you purchase something for crypto, that is also a taxable vent.

And interest on lending, whether margin or otherwise. is income.  So interest from margin lending crypto is most likely is income, you pay taxes on the value received as received, and your basis on the monero received is equal to that value.

It is also the same in Canada. Another example is let us say one sells Bitcoin for Monero, then this would trigger a capital gain or loss on the Bitcoin based on the fair market value of the Bitcoin in Canadian Dollars at the time of the sale.

Such a burdensome accounting regime assures noncompliance.  Which is probably the purpose.

I have made literally thousands of Monero and Bitcoin trades and transactions this year already.  I have no idea how I will go about filing taxes for 2016.  It is absurd that I want to be a legal and tax compliant citizen in this manner, but will be assuredly unable to without spending hundreds or thousands of dollars on tax professionals to help me understand and calculate my tax burden.  If I were to try to tabulate it myself I am likely looking at hundreds of hours of work.  
  
This cannot go on like this - I will do my best but the days of crypto being three different forms of assets with unbearable associated tax rules have to end.  

It's not really that big a deal. You download the data and use a spreadsheet or small program to calculate gains and losses.

There is no reason to spend hours and hours manually going through every trade.

Also, consider https://www.tyracpa.com/like-kind-exchange-treatment-crypto-currencies/ though you probably do want to work with a professional on that.

Check out http://bitcoin.tax
It supports altcoins (just pay $19 or whatever for the full version).
Imports from exchanges, etc. Once you learn how to work with it, it's money well spent.

[generalizethis]

Making a good luck post here on page 777.  Here's hoping we hit a jackpot on Monero price as more GPU miners turn their attentions towards the network (making us stronger) and more Bitcoin maximalists realize we are an opportunity not seen since the original Blockchain back in 2009, giving us social legitimacy. 
 
The future is bright here in Moonero land.

The boat should be closer to the moon, then you have a space yacht. And everyone should have the goal of a space yacht--what's the point of the moon if you can't cruise around in a space yacht?

[smoothie]

Solo mine it baby!

got 50 hash/seconds running

good old times... I solo mined 8 blocks with my CPU in the first weeks of Monero

Old School Monero Gangster Miner or OSMGM.

[smoothie]

Hehe, fun times, I've got 32% of total hash rate, should i try to DOUBLE SPEND ?

Lol yeah sure we all believe you.

Another 'legendary' idiot. I posted the list of blocks found on the main monero thread, I was solving 32% of all blocks for over one hour. Once Onishin (crypto-pool.fr) got his pool fixed it dropped down to 12%

Code:

1009943	54 to go	1378150793	3f78375a031bd929c43311a6424673041ff2bffb92b2e530df23ad6ba3b8f223	3/23/2016, 11:14:04 PM	93%
1009940	51 to go	1385523223	59ab707e619c9944fb29f44d2504e3ac72629e46ec17197030671d1f4e0e7e4c	3/23/2016, 11:10:08 PM	79%
1009934	45 to go	1403390081	85fb7777623100fbc2ba40ba5a2ece7bf2675c56270471eb80eb9e46656a044c	3/23/2016, 10:57:02 PM	94%
1009930	41 to go	1412466726	22a8abddc8ce7942bafd4313c4dc8d361b0b6e8bb62225aef40b32cc9a52154a	3/23/2016, 10:53:10 PM	92%
1009929	40 to go	1442407986	3d9a3bd994249d4c4316057580742b394785b838382423723ca3028b19078f99	3/23/2016, 10:48:04 PM	11%
1009907	18 to go	1558112984	a80beac2f3fb979b7cae9c3861dfff31d01877f1e9b79e671b4e5aa076a0fdba	3/23/2016, 9:51:26 PM	-55%
1009853		1627572355	2a97ce44a2e81d932a804668a93f2dd6670154283c04dd0005eeb1a8db47cdd5	3/23/2016, 7:20:59 PM	78%
1009852		1621258227	7750098e01c2c457c5e90639883b6be73decb1442931a3bdc018244c6cf75e60	3/23/2016, 7:05:24 PM	83%
1009849		1618724176	f20dfbe79664394d9b9920ea7095f516a24b5693f9166a10dbfe63f7db1ddf82	3/23/2016, 6:52:46 PM	84%
1009845		1613905042	4977c235f696284b55a42207933c4f045f647ea73efce1e2c280370d0754fc24	3/23/2016, 6:41:44 PM	79%
1009843		1621581315	a4a02510f2f376dff190c59486b370a022f01d45683b62bda83a4708bccdf36e	3/23/2016, 6:26:49 PM	48%
1009833		1609202846	a937fead88d2a438e11eeaf0e8596dc0cb92a028831104a02406d9734dbb3718	3/23/2016, 5:48:13 PM	94%
1009831		1602611350	65b2b5031e39702b8c5130d6254653cd00fbc7fe1bfd0b6be2664ac98776f09a	3/23/2016, 5:43:46 PM	84%

What's wrong buddy? You sound butthurt.

I said "yeah sure we all believe you"

And you call me an idiot..lol

[25hashcoin]

The boat should be closer to the moon, then you have a space yacht. And everyone should have the goal of a space yacht--what's the point of the moon if you can't cruise around in a space yacht?

This is a valid point.

[smoothie]

if anyone is interested i'm cross posting this here:

Auctioning TWO physical silver Cryptonic MONERO coins.

Payment method accepted - Monero (XMR) Only

Starting Bid - 30XMR

Minimum Bid increments - 0.25 XMR

Auction will end on or around March 31st, 2016. There is no specific time the auction will end, so get your bids in early.

Shipping will be paid by the winner - You tell me how you want to ship the coins and cost will be paid in equivalent XMR.

This is the specifications on their website (cryptonic.net):

"1.08 oz 0.999 Fine Silver 1.5'' coin in plastic capsule."

[opennux]

Making a good luck post here on page 777.  Here's hoping we hit a jackpot on Monero price as more GPU miners turn their attentions towards the network (making us stronger) and more Bitcoin maximalists realize we are an opportunity not seen since the original Blockchain back in 2009, giving us social legitimacy. 
 
The future is bright here in Moonero land.

The boat should be closer to the moon, then you have a space yacht. And everyone should have the goal of a space yacht--what's the point of the moon if you can't cruise around in a space yacht?

I fear too many will lose their monero in terrible terrible space shuttle accidents! 

[explorer]

Making a good luck post here on page 777.  Here's hoping we hit a jackpot on Monero price as more GPU miners turn their attentions towards the network (making us stronger) and more Bitcoin maximalists realize we are an opportunity not seen since the original Blockchain back in 2009, giving us social legitimacy. 
 
The future is bright here in Moonero land.

The boat should be closer to the moon, then you have a space yacht. And everyone should have the goal of a space yacht--what's the point of the moon if you can't cruise around in a space yacht?

I fear too many will lose their monero in terrible terrible space shuttle accidents! 

And we ALL know boats and crypto don't play nice together.

[thelibertycap]

smooth -- have you tried?
It's not so simple or so easy as you say.
I've done thousands of trades using bots on finex, etc.  This is going back a couple of years.
I hired a professional accountant, who billed himself as conversant in bitcoin, and couldn't do my taxes even with his help.

Yes I've done exactly what I wrote. Download/export the logs, and process with a program or spreadsheet into realized gains/losses. In some cases you might not be able to do this (exchange out of business, etc.), so you do the best you can with the information available.

It's not a matter of what you started out with and how much you ended up with.

Agree.

btw, in the case of xmr/btc trading, there are no realized gains until you convert to USD, right?

[smooth]

smooth -- have you tried?
It's not so simple or so easy as you say.
I've done thousands of trades using bots on finex, etc.  This is going back a couple of years.
I hired a professional accountant, who billed himself as conversant in bitcoin, and couldn't do my taxes even with his help.

Yes I've done exactly what I wrote. Download/export the logs, and process with a program or spreadsheet into realized gains/losses. In some cases you might not be able to do this (exchange out of business, etc.), so you do the best you can with the information available.

It's not a matter of what you started out with and how much you ended up with.

Agree.

btw, in the case of xmr/btc trading, there are no realized gains until you convert to USD, right?

You really need to consult with an expert or research it yourself and come to a conclusion you are comfortable with. This post (link below) suggests that there may not be, assuming you satisfy all the requirements. I'm sure there are others who disagree and different traders, especially in different countries, will likely have different rules.

Link: https://www.tyracpa.com/like-kind-exchange-treatment-crypto-currencies/

[regexlove]

Oh Monero was a pumpers paradise, that's all it was noooow,
Pumpers paradise, that's all it was.
Now it is laughing when there ain't no jokes
Every short squeeze got an ego to feed
Every long squeeze got an ego to feed
A pumpers paradise, I'm sorry for the victim now

[meme magic]

Oh Monero was a pumpers paradise, that's all it was noooow,
Pumpers paradise, that's all it was.
Now it is laughing when there ain't no jokes
Every short squeeze got an ego to feed
Every long squeeze got an ego to feed
A pumpers paradise, I'm sorry for the victim now

25 xmr to sing that and put it on youtube, im tone deaf.

[kurious]

Error: Failed to parse block
    at Object.BlockTemplate.nextBlob (/root/test/cryptonote-universal-pool/lib/pool.js:120:23)
    at Object.Miner.getJob (/root/test/cryptonote-universal-pool/lib/pool.js:297:41)
    at handleMinerMethod (/root/test/cryptonote-universal-pool/lib/pool.js:492:28)
    at handleMessage (/root/test/cryptonote-universal-pool/lib/pool.js:606:13)
    at Socket.socket.on.on.on.pushMessage (/root/test/cryptonote-universal-pool/lib/pool.js:660:25)
    at Socket.EventEmitter.emit (events.js:95:17)
    at Socket.<anonymous> (_stream_readable.js:746:14)
    at Socket.EventEmitter.emit (events.js:92:17)
    at emitReadable_ (_stream_readable.js:408:10)
    at emitReadable (_stream_readable.js:404:5)





cryptonote-universal-pool wont run after the fork. node-cryptonote-pool works just fine

What should be done to fix the error?!!!!!

Primer's was fixed.  You're out of date, there is no problem.

Nice to see someone new in the thread all the same ;-)

[dEBRUYNE]

Error: Failed to parse block
    at Object.BlockTemplate.nextBlob (/root/test/cryptonote-universal-pool/lib/pool.js:120:23)
    at Object.Miner.getJob (/root/test/cryptonote-universal-pool/lib/pool.js:297:41)
    at handleMinerMethod (/root/test/cryptonote-universal-pool/lib/pool.js:492:28)
    at handleMessage (/root/test/cryptonote-universal-pool/lib/pool.js:606:13)
    at Socket.socket.on.on.on.pushMessage (/root/test/cryptonote-universal-pool/lib/pool.js:660:25)
    at Socket.EventEmitter.emit (events.js:95:17)
    at Socket.<anonymous> (_stream_readable.js:746:14)
    at Socket.EventEmitter.emit (events.js:92:17)
    at emitReadable_ (_stream_readable.js:408:10)
    at emitReadable (_stream_readable.js:404:5)





cryptonote-universal-pool wont run after the fork. node-cryptonote-pool works just fine

What should be done to fix the error?!!!!!

Fix from osensei:

The error on cryptonote-universal-pool is because of an incompatibility in the node-cryptonote-util library it uses (https://github.com/fancoder/node-cryptonote-util). With some tweaks it can work with the original library by lucasjones (https://github.com/lucasjones/node-cryptonote-util).

On https://monerohash.com, although I'm using cryptonote-universal-pool I made the switch to lucasjones' node-cryptonote-util library some time ago, that's why https://monerohash.com is not affected by that bug.

Alternatively, use:

https://github.com/zone117x/node-cryptonote-pool