mining1
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July 22, 2016, 05:18:05 PM |
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I didn't say it is dead, i'm saying theres nothing special about it, no pump potential be it artificial or well deserved. No chance to be used alongside bitcoin, or after it dies, because it would have to wait in a really long waiting line. So, it's good only for speculation, but unless youre a day trader, i dont see why would you invest in it. It's like investing in trumpcoin, no real profit potential unless theres a blatant manipulation and you exit in time.
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MrGood
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July 22, 2016, 05:31:28 PM |
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I didn't say it is dead, i'm saying theres nothing special about it, no pump potential be it artificial or well deserved. No chance to be used alongside bitcoin, or after it dies, because it would have to wait in a really long waiting line. So, it's good only for speculation, but unless youre a day trader, i dont see why would you invest in it. It's like investing in trumpcoin, no real profit potential unless theres a blatant manipulation and you exit in time.
Of course there's something special about it. You can wire USD millions to any place on earth and no government is going to know about it.
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smooth (OP)
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July 22, 2016, 05:57:45 PM |
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I didn't say it is dead, i'm saying theres nothing special about it, no pump potential be it artificial or well deserved. No chance to be used alongside bitcoin, or after it dies, because it would have to wait in a really long waiting line. So, it's good only for speculation, but unless youre a day trader, i dont see why would you invest in it. It's like investing in trumpcoin, no real profit potential unless theres a blatant manipulation and you exit in time.
Of course there's something special about it. You can wire USD millions to any place on earth and no government is going to know about it. USD 20 millions at most (of course implausible), but it is a start. The market cap needs to grow for it to become more useful, and being more useful makes the market cap grow.
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Johnny Mnemonic
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July 22, 2016, 05:58:49 PM |
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And even if it was a game changer, which isnt, but even if it was it wouldnt stand a chance because of it's horrible name. To name your project monero you must be a troll with no sense of humor.
So what is a "game changer" according to you? With regard to the name, the interesting thing about these decentralized projects is that there is no official name or branding. If you can get enough of your friends to call it UpsideDownBoogerCoin, then that's the new name. Good luck!
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GingerAle
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July 22, 2016, 06:27:40 PM |
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I didn't say it is dead, i'm saying theres nothing special about it, no pump potential be it artificial or well deserved. No chance to be used alongside bitcoin, or after it dies, because it would have to wait in a really long waiting line. So, it's good only for speculation, but unless youre a day trader, i dont see why would you invest in it. It's like investing in trumpcoin, no real profit potential unless theres a blatant manipulation and you exit in time.
Another demonstration of a lack of understanding of fungibility and the fact that Monero (and some of its cryptonote family members) are the only functioning fungible* cryptocurrencies. * - caveat of blockchain temporal association and ip broadcasting problems. The latter easily fixable with i2p, the former somewhat fixable with RingCT and maybe some better output selection algorithms? I speculate that someone has a really good solution to this problem and aint telling anyone.
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mining1
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July 22, 2016, 06:35:33 PM |
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It's hard to grow when you want to compete with bitcoin and other 100000 bitcoin clones, each of them with their own small changes over the original claiming theyre best. Wannabe crypto payment / monetary system is saturated in crypto scene, it cannot grow further than this unless it's heavily pumped but then you need to be lucky enought to exit in time. Projects that intend to have more usage than the simple monetary system will have much more success, like ethereum, biggest of them at this moment. And even if their primary goal isnt to be used as a monetary system, their added value from real projects will be a boost for it's usage as a payment system aswell, which will kill bitcoin and anything alike since, let's be honest, a cryptocurrency will never be able to hold it's value only by being used as a payment system against projects with real value from real tangible projects. What do i mean: 1. People claim bitcoin can be used as digital gold / payment system. Okay, but this all depends on it's perceived value, since, unlike gold, it has no usage at all if people lose their faith and dump it ( gold is used in industry, jewelry and so on), therefore it's perceived value will decrease to 0. So, let's imagine what would happen: ethereum grows, alot of projects work on it's chain, therefore the token value is will grow alot, let's say 50$. Why would anyone bother to use bitcoin as a store of value when they can use ether, when it's value is backed by the amount of projects that work on it and not pure faith which currently holds bitcoin value high ? I do believe monero will continue to exist, price will fluctuate but it'll remain the average joe who aimed low, same as litecoin. Or maybe not aim low, but lacking a bigger and better development team. Leadership in crypto scene matters alot unless you aim to be a bitcoin clone. So far i'm impressed by ethereum development team. Don't get me wrong, i'm aware that they're getting rich while doing this, but atleast they deliver. Would be nice to see other crypto projects to aim higher and to be more ambitious, most projects out tehre don't deserve to exist, they're just a milk cows for devs.
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MrGood
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July 22, 2016, 07:09:23 PM |
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It's hard to grow when you want to compete with bitcoin and other 100000 bitcoin clones, each of them with their own small changes over the original claiming theyre best. Wannabe crypto payment / monetary system is saturated in crypto scene, it cannot grow further than this unless it's heavily pumped but then you need to be lucky enought to exit in time. Projects that intend to have more usage than the simple monetary system will have much more success, like ethereum, biggest of them at this moment. And even if their primary goal isnt to be used as a monetary system, their added value from real projects will be a boost for it's usage as a payment system aswell, which will kill bitcoin and anything alike since, let's be honest, a cryptocurrency will never be able to hold it's value only by being used as a payment system against projects with real value from real tangible projects. What do i mean: 1. People claim bitcoin can be used as digital gold / payment system. Okay, but this all depends on it's perceived value, since, unlike gold, it has no usage at all if people lose their faith and dump it ( gold is used in industry, jewelry and so on), therefore it's perceived value will decrease to 0. So, let's imagine what would happen: ethereum grows, alot of projects work on it's chain, therefore the token value is will grow alot, let's say 50$. Why would anyone bother to use bitcoin as a store of value when they can use ether, when it's value is backed by the amount of projects that work on it and not pure faith which currently holds bitcoin value high ? I do believe monero will continue to exist, price will fluctuate but it'll remain the average joe who aimed low, same as litecoin. Or maybe not aim low, but lacking a bigger and better development team. Leadership in crypto scene matters alot unless you aim to be a bitcoin clone. So far i'm impressed by ethereum development team. Don't get me wrong, i'm aware that they're getting rich while doing this, but atleast they deliver. Would be nice to see other crypto projects to aim higher and to be more ambitious, most projects out tehre don't deserve to exist, they're just a milk cows for devs.
Bitcoin and Monero aren't competitors. If you want to declare your finances on a public blockchain then use Bitcoin. If you don't want to declare your finances on a public blockchain then use Monero. The global blackmarket will provide liquidity to the coin that best conceals it, and the global blackmarket's capitalization is not a figure to be sneezed at. Bitcoin is useless for such purposes, as is Dash, Zcash and Ethereum. So there's no competitional factor, just as long as Monero is technically and politically the best, which it currently is.
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thelibertycap
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July 22, 2016, 07:20:49 PM |
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current crypto like steem or ethereum is all in danger of being crushed by bigger more aggressive competitor the size of facebook or google. monero on the other hand is not something that a corporation would want or actually could compete with.
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mining1
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July 22, 2016, 07:48:08 PM |
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So it has more appeal to black market / criminal activities ? Well that ain't enought to boost the price, which is why everyone is here. It's hard to steal btc's capital with " hey, come over here, we are more sneaky" . Am i really the only one that thinks teh market for cryptos that aim to become payment systems / store of value is oversaturated ? Bitcoin itself isn't widely adopted, imagine other coin's chances..
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TrueCryptonaire
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July 22, 2016, 08:01:55 PM |
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A marketcap should be minimum one order of magnitude higher than the wealth of the person it is sold. Now the marketcap is in tens of millions so people who have 1-2 million networth are the ones Monero might be sold these days.
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birr
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July 22, 2016, 08:04:32 PM |
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lol primer- ragequit Poor guy, sorry you can't get as much free money as you used to :'[ Trying to stay on topic, I'm expecting BTC to move up over 700 at least and XMR to fall back under 0.0025 in the next week or so. Very doubtful. XMRUSD is too cheap in that scenario. Well, it hit .00251 It did? i only see it to about 0.00259. https://bitcoinwisdom.com/markets/poloniex/xmrbtc
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Febo
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July 22, 2016, 08:10:56 PM |
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So it has more appeal to black market / criminal activities ? Well that ain't enought to boost the price, which is why everyone is here. It's hard to steal btc's capital with " hey, come over here, we are more sneaky" . Am i really the only one that thinks the market for cryptos that aim to become payment systems / store of value is oversaturated ? Bitcoin itself isn't widely adopted, imagine other coin's chances..
I really dont know what you are talking about. Monero market capitalization is $22 million. You dont believe that more that $22m will will choose anonymity way? To me that is extremely ridiculous. Low price of monero is solely because of high inflation in last 2 years and slow development first year. You need to understand that developers that worked and work on coin development did nto plan it in advance but jumped in soon after was started. so it took soem time to optimize processes. all this beside the fact that there was no premine or ICO or whatever is nowadays popular. So no budged that Ethereum could afford. Of course you can be totally right. And monero will newer be worth more then today. But on my opinion for that should be needed some not fixable security flaw or some way that society would be able prevent monero from running. But chances for this are about same as to have $1000 Monero in a year or so.
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MrGood
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July 22, 2016, 08:24:35 PM |
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So it has more appeal to black market / criminal activities ? Well that ain't enought to boost the price, which is why everyone is here. It's hard to steal btc's capital with " hey, come over here, we are more sneaky" . Am i really the only one that thinks teh market for cryptos that aim to become payment systems / store of value is oversaturated ? Bitcoin itself isn't widely adopted, imagine other coin's chances..
No-one's trying to steal anything. I don't think I ever saw anyone in Monero say "Psst come over here." In fact, the complete opposite is true. Monero is likely a poor choice of 'investment' because of the associated risks, and no-one's tried to hide that fact. Having said that, it is obvious that as long as Monero's fundamentals are unbeatable for blockchain obfuscation and without any accompanying political baggage (e.g Zcash being sponsored by at least two governments) then there is a clear Darwinian component in play. Your perception of crypto-oversaturation is a different matter, but even if that was the case it doesn't affect Monero because Bitcoin and Monero are not competitors.
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TrueCryptonaire
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July 22, 2016, 09:42:14 PM |
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I think the weakness of Monero is the constant inflation. The idea of coins being mined for ever doesn't incentify adaption for people who want to preserve their wealth. Monero is much like Doge coin but lower inflation percentage. To maintain any value people need to buy coins on constant basis (like in fiat - to maintain the value there need to be economic growth which hopefully exceeds the rate of inflation).
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aminorex
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July 22, 2016, 09:46:11 PM |
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BTC just broke the end of the triangle (APEX) formed since last big dump downward, this would imply that upward breakout was fake and we might go south soon. Everyone grab some popcorn, bears and bulls will fight hard
That is likely to be the effect of BTC moving into ETH now. ETH is going to be sucking the oxygen out of the room for a while imo. Explain to me again how people buying BTC to trade for ETH brings BTC down?
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Give a man a fish and he eats for a day. Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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s1gs3gv
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July 22, 2016, 09:49:33 PM |
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Explain to me again how people buying BTC to trade for ETH brings BTC down?
again ? i have btc, i trade it for eth. btc demand goes down, eth demand goes up. ~LOL~
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aminorex
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July 22, 2016, 09:49:54 PM |
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So it has more appeal to black market / criminal activities ? Well that ain't enought to boost the price, which is why everyone is here. It's hard to steal btc's capital with " hey, come over here, we are more sneaky" . Am i really the only one that thinks teh market for cryptos that aim to become payment systems / store of value is oversaturated ? Bitcoin itself isn't widely adopted, imagine other coin's chances..
SR took BTC to $100. Keeping your freedom has significant value.
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Give a man a fish and he eats for a day. Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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s1gs3gv
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July 22, 2016, 09:50:53 PM |
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I think the weakness of Monero is the constant inflation.
I think the weakness of monero is that it answers a use case which a lot of people either don't understand or don't care about. Its a dilettante's coin really.
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aminorex
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July 22, 2016, 09:52:59 PM |
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I think the weakness of Monero is the constant inflation. The idea of coins being mined for ever doesn't incentify adaption for people who want to preserve their wealth. Monero is much like Doge coin but lower inflation percentage. To maintain any value people need to buy coins on constant basis (like in fiat - to maintain the value there need to be economic growth which hopefully exceeds the rate of inflation).
How much XMR will be lost to dust and misplaced keys each year?
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Give a man a fish and he eats for a day. Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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TrueCryptonaire
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July 22, 2016, 09:56:18 PM |
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I think the weakness of Monero is the constant inflation. The idea of coins being mined for ever doesn't incentify adaption for people who want to preserve their wealth. Monero is much like Doge coin but lower inflation percentage. To maintain any value people need to buy coins on constant basis (like in fiat - to maintain the value there need to be economic growth which hopefully exceeds the rate of inflation).
How much XMR will be lost to dust and misplaced keys each year? I have no idea. Mainly it is traded back and forth in exchanges, and it is very unlikely to see the ATH anymore. Do not get me wrong, I want to see it but it is not probable, only very few people are trading here with Aminorex (that can be seen on the trading volumes).
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