[XMR] Monero Speculation

[aminorex]

So is it possible to use XMR in a manner that person A promises to pay to person B x amount, and as a proof of funds person A sends coins to the network but in a manner that person B sees it as peding deposit (and person A has pending/reserved withdrawal). Once person B has delivered his duty towards person A, person A redeems the payment?

Yes.  Hint: viewkey.

[TrueCryptonaire]

The price is around 0.004 bitcoin now. I suspect the price could rise to 0.006 in the next few months or even weeks.

That is certainly possible and I think the .01 level is reachable as well, especially once the GUI is out.

That said, I think the days of pricing alts and Cryptos in BTC is going to come to an end. We should start looking at things in terms of USD or local currencies
and for many reasons.

BTC is in an explosive triangle right now, near the end of it. If it breaks up, perhaps the alts follow.
I think Monero has a valuation this year of between $3 and $5, perhaps more, but there are so many factors involved.

.... unfortunately i can not agree with this argument....
Take a look at the BTC industry with for example miners built by some cooperations, investing certain ammounts to prosper from the system (<- the believe). Take a look at exchanges rating BTC as their anchor currency. Nearly every market, wether dark or not, is based on BTC.
We can discuss about BTC or BTCclassic, but BTC as a business will not die.
I believe altcoins like Monero will catch up their position and will compete, maybe overtake BTC by 2020, but BTC has a very strong stake and argument in the community and society.
And honestly, trading is based on the believe of worth for virtualities which by them selfs have absolutely no worth. So this implicates, if people believe in the worth of something, than this something will gain worth and vice versa.

If you want to destroy the worth of a virtual something, than you have to destroy the believe in it (like massmedia does the whole time on BTC)

Quite simply, if BTC does explode up, I just don't see the alts following (unless their is utility or feverish speculation, which is possible once the public catch on.)
If BTC suddenly goes to 1200 USD, does that mean XMR, ETH, etc. all go up app 3X in value as well?

Time will tell.

To analyze this there need to consider a few factors such as what percentage of coins are in weak and shaky hands who sell in need of money to pay rent and utilities.
The other factor to consider is the emission which will be instadumped. If this is high the chance of increasing the market cap obviously is low.
I think a big part of the demand of BTC is derived from alt markets. Many are buying bitcoin simply to buy altcoins nothing else.
In general, investing in projects that are small in the beginning and the fundamentals (including sufficient funding being it with generous donations or some kind of IPO/ICO with a credible method of payment to the developers).

There would be many other alts that had been succeed if they had some kind of funding system that pays to the developers after something has been delivered, not before.

[TrueCryptonaire]

So is it possible to use XMR in a manner that person A promises to pay to person B x amount, and as a proof of funds person A sends coins to the network but in a manner that person B sees it as peding deposit (and person A has pending/reserved withdrawal). Once person B has delivered his duty towards person A, person A redeems the payment?

Yes.  Hint: viewkey.

Actually yes, did not think this from that perspective. I was too fixed with thinking viewkey being only for the regulators to show your honesty in your business.
Thank you for the hint. 

[TrueCryptonaire]

Always remember that polo takes 15% of lending profits, so your real rate is 85% of the rate you specify.

I am unaware if Polo takes a chunk of profits?

It is in their terms of use.

As far as "default insurance", they do not promise to back up losses. Some have suggested they might do so to avoid bad publicity, but that is just speculation.

I found it (kinda hidden and that did not appear there when I initially started lending if I am not mistaken). The bad: I need to pay some of my profits. The good: Polo has no incentive to manipulate the rates down.

Here is the only music vid that has been made on XMR

https://www.youtube.com/watch?v=2ofpaF5pkE8

[griffen1102]

Probably going to see some consolidation here, price right now is between fibs from last years pump and the original polo pump. I expect a lot of liquidity here.

[owm123]

Always remember that polo takes 15% of lending profits, so your real rate is 85% of the rate you specify.

I am unaware if Polo takes a chunk of profits?

It is in their terms of use.

As far as "default insurance", they do not promise to back up losses. Some have suggested they might do so to avoid bad publicity, but that is just speculation.

I found it (kinda hidden and that did not appear there when I initially started lending if I am not mistaken). The bad: I need to pay some of my profits. The good: Polo has no incentive to manipulate the rates down.

Here is the only music vid that has been made on XMR

https://www.youtube.com/watch?v=2ofpaF5pkE8

there is also this one:
https://www.youtube.com/watch?v=bV5TrmjEK8c

[Quicken]

Probably going to see some consolidation here, price right now is between fibs from last years pump and the original polo pump. I expect a lot of liquidity here.

Like over 3500 BTC daily volume on Polo? Too late.

[TrueCryptonaire]

Always remember that polo takes 15% of lending profits, so your real rate is 85% of the rate you specify.

I am unaware if Polo takes a chunk of profits?

It is in their terms of use.

As far as "default insurance", they do not promise to back up losses. Some have suggested they might do so to avoid bad publicity, but that is just speculation.

I found it (kinda hidden and that did not appear there when I initially started lending if I am not mistaken). The bad: I need to pay some of my profits. The good: Polo has no incentive to manipulate the rates down.

Here is the only music vid that has been made on XMR

https://www.youtube.com/watch?v=2ofpaF5pkE8

there is also this one:
https://www.youtube.com/watch?v=bV5TrmjEK8c

Definetely more of the music vids are welcome, they are great also for promoting... Any vids that can even partially go viral is an excellent matter of marketing for mass adoption.

[canth]

About 2 years ago I didn't know much, but I was interested in Monero so I forced myself to learn how to use the command line wallet. It was fun to learn how things worked on a deeper level so I started learning how to code when I had the time.

Fast-forward to now and I will be starting a new job as a developer next Monday. I still have a lot to learn, but now someone will actually be paying me to write code for them. HAHA! Thanks Monero!

I post this to say that anyone can learn how to do this if you have the interest and make time for it.

Congrats! Don't forget about us and Monero, big shot!

[canth]

If we advocate Bitcoin (read: crypto e-cash) becoming a critical system, how can we not also advocate multiple redundant backup systems?

Your "LTC as a backup" argument has never made sense to me.

LTC would fail as a backup because it offers no security balance, and will suffer the same hypothetical fate as its bigger brother. Think about it: if the bitcoin network were suddenly brought to its knees, how would anyone be safer in LTC?

AEON backing up XMR is equally absurd.

To continue this discussion, I agree that if BTC can be brought to it's knees is very likely that LTC would be that much more vulnerable. Depending upon the nature of the attack, there are innovations can bring additional hurdles which an attacker must overcome. Example: Decred (DCR) has both PoW and PoS whereby otherwise valid PoW blocks are voted upon by stakers. An attacker attempting a 51% attack must do more than garnish hashing power to disrupt the network. Personally, I see this as far more valuable than a defensive PoW hash function reset which just resets the clock for the attacker to perform the same attack in a few months, once they've accumulated enough hashing power.

[griffen1102]

Probably going to see some consolidation here, price right now is between fibs from last years pump and the original polo pump. I expect a lot of liquidity here.

Like over 3500 BTC daily volume on Polo? Too late.

that was to get us up to the liquidity pool, not past it.

[canth]

Quite simply, if BTC does explode up, I just don't see the alts following (unless their is utility or feverish speculation, which is possible once the public catch on.)
If BTC suddenly goes to 1200 USD, does that mean XMR, ETH, etc. all go up app 3X in value as well?

Time will tell.

Keep in mind that every time that BTC price increases, so does the scrutiny of transactions. When BTC is worth $10k or more, the focus on privacy of transactions is going to increase. Will optional confidential transactions and stealth addresses be enough for a BTC rise alone? I'm doubtful.

[Quicken]

Probably going to see some consolidation here, price right now is between fibs from last years pump and the original polo pump. I expect a lot of liquidity here.

Like over 3500 BTC daily volume on Polo? Too late.

that was to get us up to the liquidity pool, not past it.

Sorry, but I just cannot take TA very seriously on a market the size of XMR. I suppose if enough participants are chartists it might work a bit by herd movement.

[griffen1102]

Probably going to see some consolidation here, price right now is between fibs from last years pump and the original polo pump. I expect a lot of liquidity here.

Like over 3500 BTC daily volume on Polo? Too late.

that was to get us up to the liquidity pool, not past it.

Sorry, but I just cannot take TA very seriously on a market the size of XMR. I suppose if enough participants are chartists it might work a bit by herd movement.

You're not wrong and I agree TA needs to be taken lightly, but it has been very advantageous for me since XMR began this breakout

[Quicken]

You're not wrong and I agree TA needs to be taken lightly, but it has been very advantageous for me since XMR began this breakout

I prefer the fact that we had 66% inflation of the XMR money supply over the last year (to 25th March 2016), while in the next year it will be only 24%, and 11.7% the year after that.

[Dotto]

What are the fave bots of the people over this room to trade in poloniex?

[persiancat]

Hello I'm having a problem with updating my blockchain.

I'm using Hydrogen Helix 0.9.1

I was running bitmonerod and it updated the blockchain to -1 day (is that possible)?
Subsequently my com blue-screen and had a hard crash.

After rebooting and restarting bitmonerod it gave me the following log.

2016-Mar-26 00:01:47.340882 Added IGD port mapping.
2016-Mar-26 00:01:47.340882 P2p server initialized OK
2016-Mar-26 00:01:47.340882 Initializing core rpc server...
2016-Mar-26 00:01:47.340882 Binding on 127.0.0.1:18081
2016-Mar-26 00:01:47.342132 Core rpc server initialized OK on port: 18081
2016-Mar-26 00:01:47.342132 Initializing core...
2016-Mar-26 00:01:47.344632 Loading blockchain from folder C:\ProgramData\bitmonero\lmdb ...
2016-Mar-26 00:01:47.344632 option: fastest
2016-Mar-26 00:01:47.344632 option: async
2016-Mar-26 00:01:47.344632 option: 1000
2016-Mar-26 00:01:47.345882 Deinitializing rpc server...
2016-Mar-26 00:01:47.345882 Deinitializing p2p...
2016-Mar-26 00:01:47.363382 Deinitializing core...
2016-Mar-26 00:01:47.368382 Closing IO Service.
2016-Mar-26 00:01:47.369632 Failed to deinitialize core...
2016-Mar-26 00:01:47.369632 Deinitializing cryptonote_protocol...


After which the service self-terminated.

I will appreciate if anyone can advise how to resolve this issue.

Thanks in advance.

[wpalczynski]

Probably going to see some consolidation here, price right now is between fibs from last years pump and the original polo pump. I expect a lot of liquidity here.

Like over 3500 BTC daily volume on Polo? Too late.

that was to get us up to the liquidity pool, not past it.

Sorry, but I just cannot take TA very seriously on a market the size of XMR. I suppose if enough participants are chartists it might work a bit by herd movement.

You're not wrong and I agree TA needs to be taken lightly, but it has been very advantageous for me since XMR began this breakout

TA works in a self fulfilling prophecy kind of way in any market if enough participants are familiar with it.

[dEBRUYNE]

Hello I'm having a problem with updating my blockchain.

I'm using Hydrogen Helix 0.9.1

I was running bitmonerod and it updated the blockchain to -1 day (is that possible)?
Subsequently my com blue-screen and had a hard crash.

After rebooting and restarting bitmonerod it gave me the following log.

2016-Mar-26 00:01:47.340882 Added IGD port mapping.
2016-Mar-26 00:01:47.340882 P2p server initialized OK
2016-Mar-26 00:01:47.340882 Initializing core rpc server...
2016-Mar-26 00:01:47.340882 Binding on 127.0.0.1:18081
2016-Mar-26 00:01:47.342132 Core rpc server initialized OK on port: 18081
2016-Mar-26 00:01:47.342132 Initializing core...
2016-Mar-26 00:01:47.344632 Loading blockchain from folder C:\ProgramData\bitmonero\lmdb ...
2016-Mar-26 00:01:47.344632 option: fastest
2016-Mar-26 00:01:47.344632 option: async
2016-Mar-26 00:01:47.344632 option: 1000
2016-Mar-26 00:01:47.345882 Deinitializing rpc server...
2016-Mar-26 00:01:47.345882 Deinitializing p2p...
2016-Mar-26 00:01:47.363382 Deinitializing core...
2016-Mar-26 00:01:47.368382 Closing IO Service.
2016-Mar-26 00:01:47.369632 Failed to deinitialize core...
2016-Mar-26 00:01:47.369632 Deinitializing cryptonote_protocol...


After which the service self-terminated.

I will appreciate if anyone can advise how to resolve this issue.

Thanks in advance.

Could you try upgrading to 0.9.3? The blockchain is compatible and therefore you don't have to sync from scratch again.

If you don't want to upgrade, try deleting p2pstate.bin from program data.

https://getmonero.org/downloads/ (hashes are SHA256)

EDIT: Worst case your blockchain is corrupt and you'll have to sync from scratch again.

[vuduchyld]

I'd make an original music video, but I did one for BTM and ended up bagholding

https://www.youtube.com/watch?v=wl4rnEguL2w