[XMR] Monero Speculation

[RayX12]

By the way you (Hueristic) fudster... monero block time = 120 sec (2 minutes)
moneritos ber block = 10.8066
Total moneros per day = 24hr x 60 / 2 x 10.8 = 7776 XMR
Assuming that your botnets controlled the entire network (you probably wish) that is a wapping
7776 * 0.0145 = 112 BTC a day  
Keep dreaming of getting cheap moneros you looser you are not going to do anything with your fucking botnets.

[mastertrader777]

What in the heck is going on here?

6700+ BTC of support ?

I caught this earlier - it was up for about 4 mins.

None of it was sold into.



My thoughts here:



What do you guys think?

Cheers,

mastertrader777

[shmadz]

The gui thing is actually starting to become a big deal now. Previously almost everyone in the community was comfortable with CLI and we had no need to rush adoption so it didnt really matter very much. But now as we see slightly wider spread adoption, more people who are not comfortable with CLI are coming into the space. The problem here is that this probably means people are keeping WAY too many monero on the exchange. Making it a very ripe target for attack. A lot of people might get burned because of this.

While of course the GUI will be nice, and an added bonus, I don't think it's that big of a deal.

Consider the following three broad categories:

Early adopters - (you covered this already, but anyways  ) while the gui will be some icing on the cake, I would say most of us are comfortable enough with the command line. Also, we're already in; we may provide support in the event of a price drop, and liquidity as the price rises,  but you will not see significant growth from this group at this point (assuming we've all entered long ago and are happy with our respective positions)

Speculators: these guys pretty much need to keep their coins on exchange anyways; whether they are loaning coins, borrowing coins, making a market through open bid and ask positions, etc.

DNM users: typically they would be holding relatively small amounts for short periods of time. I think Shapeshift and MyMonero are sufficient for this use case. Or, even easier and more important than a GUI, if there were a fiat/xmr exchange that they can use to simply buy Monero and transfer direct to the online merchant...

[shmadz]

Speaking of the GUI...

Update on the official GUI

https://www.reddit.com/r/Monero/comments/50d54y/update_on_the_official_gui/

but it will, for example, allow users of the GUI to pay any Bitcoin address with Monero from their GUI wallet using an xmr.to plugin.

WOW!  this would be a fantastic ease of use feature! Allows quick and easy inclusion of all existing bitcoin accepting vendors. Very cool! I'm getting more excited every day!

[Anon136]

The gui thing is actually starting to become a big deal now. Previously almost everyone in the community was comfortable with CLI and we had no need to rush adoption so it didnt really matter very much. But now as we see slightly wider spread adoption, more people who are not comfortable with CLI are coming into the space. The problem here is that this probably means people are keeping WAY too many monero on the exchange. Making it a very ripe target for attack. A lot of people might get burned because of this.

While of course the GUI will be nice, and an added bonus, I don't think it's that big of a deal.

Consider the following three broad categories:

Early adopters - (you covered this already, but anyways   ) while the gui will be some icing on the cake, I would say most of us are comfortable enough with the command line. Also, we're already in; we may provide support in the event of a price drop, and liquidity as the price rises,  but you will not see significant growth from this group at this point (assuming we've all entered long ago and are happy with our respective positions)

Speculators: these guys pretty much need to keep their coins on exchange anyways; whether they are loaning coins, borrowing coins, making a market through open bid and ask positions, etc.

DNM users: typically they would be holding relatively small amounts for short periods of time. I think Shapeshift and MyMonero are sufficient for this use case. Or, even easier and more important than a GUI, if there were a fiat/xmr exchange that they can use to simply buy Monero and transfer direct to the online merchant...

I think this analysis completely ignores a broad new swath of users. Future historians my find them to still be very early indeed, but lets call them, for lack of a better term, late adopters. This is the group my post was concerned with.

But I guess the whole post is moot. It looks like we are getting our gui sometime within the next 2 weeks or so . I was never one of those people who was gui obsessed but I'm certainly excited about its impending arrival.

[Drhiggins]

Speaking of the GUI...

Update on the official GUI

https://www.reddit.com/r/Monero/comments/50d54y/update_on_the_official_gui/

but it will, for example, allow users of the GUI to pay any Bitcoin address with Monero from their GUI wallet using an xmr.to plugin.

WOW!  this would be a fantastic ease of use feature! Allows quick and easy inclusion of all existing bitcoin accepting vendors. Very cool! I'm getting more excited every day!

I'm excited to see the add on plugins/apps and hopefully there will be some kind of Point of Sale plugin for the GUI down the road.  A POS system would really help business adapt to accepting Monero.  Why sure I'd love to buy a cup of coffee and pay you with XMR :-)

[persiancat]

Speaking of the GUI...

Update on the official GUI

https://www.reddit.com/r/Monero/comments/50d54y/update_on_the_official_gui/

but it will, for example, allow users of the GUI to pay any Bitcoin address with Monero from their GUI wallet using an xmr.to plugin.

WOW!   this would be a fantastic ease of use feature! Allows quick and easy inclusion of all existing bitcoin accepting vendors. Very cool! I'm getting more excited every day!

Any particular reason why is the upcoming GUI integrated with XMR.to and not Shapeshift?

There seems to be differences between xmr.to and shapeshift which are significant enough for XMR developers to use the former...

[owlcatz]

Speaking of the GUI...

Update on the official GUI

https://www.reddit.com/r/Monero/comments/50d54y/update_on_the_official_gui/

but it will, for example, allow users of the GUI to pay any Bitcoin address with Monero from their GUI wallet using an xmr.to plugin.

WOW!   this would be a fantastic ease of use feature! Allows quick and easy inclusion of all existing bitcoin accepting vendors. Very cool! I'm getting more excited every day!

Any particular reason why is the upcoming GUI integrated with XMR.to and not Shapeshift?

There seems to be differences between xmr.to and shapeshift which is significant enough for XMR developers to use the former...

probably because it was easier and quicker for now, but i'm only guessing. Maybe smooth or someone can chime in.

[persiancat]

Speaking of the GUI...

Update on the official GUI

https://www.reddit.com/r/Monero/comments/50d54y/update_on_the_official_gui/

but it will, for example, allow users of the GUI to pay any Bitcoin address with Monero from their GUI wallet using an xmr.to plugin.

WOW!   this would be a fantastic ease of use feature! Allows quick and easy inclusion of all existing bitcoin accepting vendors. Very cool! I'm getting more excited every day!

Any particular reason why is the upcoming GUI integrated with XMR.to and not Shapeshift?

There seems to be differences between xmr.to and shapeshift which is significant enough for XMR developers to use the former...

probably because it was easier and quicker for now, but i'm only guessing. Maybe smooth or someone can chime in.

I sure hope that its merely for convenience reasons and not for any fundamental issues.
I may be overthinking this though.

Really appreciate if we could know the reason, as many of us use Shapeshift.

[cAPSLOCK]

I think the reason for planned XMR.to integration first is pretty obvious. That is a community project and Monero focused. Shapeshift, though we are all grateful that it supports Monero is far more multi coin focused. There's nothing wrong with that and I would be very surprised if I shape-shift plugin doesn't come along pretty quick. I also assume that the plugin architecture will be open source. So whoever wants to can make a shapeshift plugin.

[persiancat]

I think the reason for planned XMR.to integration first is pretty obvious. That is a community project and Monero focused. Shapeshift, though we are all grateful that it supports Monero is far more multi coin focused. There's nothing wrong with that and I would be very surprised if I shape-shift plugin doesn't come along pretty quick. I also assume that the plugin architecture will be open source. So whoever wants to can make a shapeshift plugin.

I see. Sounds logical. Thanks.

[saddambitcoin]

XMR.to was tailored for Monero use from the ground up. UX wise, i think it's perfect. Copy paste the transaction in simplewallet, spend. Tx recognzed instantly. Takes just a few seconds. I use it several times a week.

Shapeshift has to support many coins, and Monero is still very different so they cannot be as good unless they devote more time/money to it. Which, to their credit they have done in order to recognize transactions in the mempool, etc.

Nothing wrong with Shapeshift, it's great that they support Monero. XMR.to also came before Shapeshift even existed, so very likely these plans have been in the works since that time. The GUI wireframes are at least that old 

Like others have said, being an open source project I'm sure someone will make a shapeshift plugin if there is demand for it.

[TrueCryptonaire]

I am looking at 1 hr chart on bitcoinwisdom.
To me it appears bullish and now just stability (pretty bullish triangle starting from 19th or 20th of August). The coming hours will show us to which direction to go.
I might be wrong, and my speculation do not affect on my trading because I simply hold, but I am inclined to think the coming months are good for Monero. I am 99 % sure the DNM acceptance will not harm the adaption of Monero. Therefore, if you think in the same manner and happen to want to sell some of your coins, may I suggest you to get the best price possible and put the coins for sale instead of dumping with slippage discount. Eventually the dark market customers will buy those coins - sooner or later and vendors most likely just hold as many Moneros as possible because of privacy reasons.

Imo, future potential due to DNM adoption... huge. But it might take time to see that demand creep up to the price.

The 400%-700% over the last week was purely based on speculation and hype. So in short term the price has room to retrace a lot. XMR doesn't even have a GUI yet. How much XMR will actually be used is yet to be seen. I think the whole Alt market is overbought right now due to BTC stability and that will switch very soon. BTC doesn't stay boring for long, once it rises again the alt coins are going to drop again.


But if you're just holding it shouldn't matter... I think a market cap of 500M for XMR is fair game, just how soon I don't know

Yes I am almost 100 % confident that the full potential of Dark Net Markets are not realized on the very same day DNM will implement XMR. Even if all the customers are fine with XMR, different people use their money in different days. Therefore, I see a potential for some "early users" using XMR this year, and I think 2017 will be even better. Thanks to the bullish trend we potentially start to see caused by DNM also normal people will start buying Moneros and that's the time I am looking to sell some.
Aminorex told us somewhere that the rise of Monero will be faster than the rise of bitcoin. I think that's very logical point due to at least 2 reasons: Monero has begun its pump when the future emission (excluding tail) is around 50 % increase to money base and the second reason being many more people are aware of crypto in general thanks to btc being the pioneer.

When speaking in terms "it already has risen 400-700 % in a short period", please bear in mind Monero is not that much higher than its previous ATH, and it took over 2 years to achieve these levels. The whales and manipulators (price manipulation was very visible in dumps that occured killing even tiny rises) held the coin cheap for so long time.

I do not care these short term pumps/dumps, since I have been in holding mood for some time, and I foresee 2000 + usd XMR at some point, not this year and probably not even 2017 but when the masses come after the bull trend caused by DNM combined with rigid emission and stingy bagholders - who knows.

[alphahacktivist]

ETC Classic and XMR same trend for now.

ive made good profit.

not bagholding anymore.

0.005 to 0.016 is still good on xxxBtc

lets wait and watch. if i have to rebuy later, i will. but for now, bagholding isnt a good thing (imho)

[aminorex]

Unfortunately those who buy from illegal online pharmacies are often digging their own graves, too - that's part of the reason governments are cracking down on them.  The incidence of customers receiving medication that is at best ineffective and at worst actively dangerous seems to be quite high.

I can tell you that I have been filling prescriptions from India for 20 years.  I always buy goods advertised as being the products of manufacturers which have been FDA inspected and approved for the manufacture of generics for sale in the U.S. market.  I also always test the goods delivered.  In 20 years I received fraudulent goods on one occasion.  It was not hard to discern, because most medications have a distinctive packaging, taste, odor and texture.  For purified substances a melting point test is extremely easy and effective.  For custom syntheses in bulk, I spend 600$ and 300mg of material to get a broad range of NMR spectrographic results which are more than adequate to discriminate even analogs and isomers.  It is cheap enough so that if you get bum goods, you simply discard them, and order again from another vendor.

Yes, you can suicide by recklessness.  Don't do that.

Another bad thing you might do is act as a tax donkey for captured corrupt regulators and pharmaceutical price gougers extorting the infirm and elderly, and indeed the nations, into bankruptcy.  Don't do that either.  It would also be bad.

[aminorex]

ETC Classic and XMR same trend for now.

ive made good profit.

not bagholding anymore.

0.005 to 0.016 is still good on xxxBtc

lets wait and watch. if i have to rebuy later, i will. but for now, bagholding isnt a good thing (imho)

Call me back in 5 years.  Tell me of your victories and your defeats, and I will be happy to listen.  Just don't ask me for any Monero, when you do.

--Contented bag holder.

[RayX12]

Mr. donald mcscrooge:

Maybe you should refrain from not caring about price and dumps because people get influenced by your thoughts and kill the coin..   I am holding a tiny bag but it is important to me.. Your careless choice of words caused this crash..

[nanobrain]

@Dafur,
Well the Crypto gods were kind...hope you had some orders in the high one twenties and filled they were.

[Dafar]

@Dafur,
Well the Crypto gods were kind...hope you had some orders in the high one twenties and filled they were.

I've been all out at .0154, waiting to get back in but not sure how low it's going... would be nice to get back in at .008 or below

[nanobrain]

@Dafur,
Well the Crypto gods were kind...hope you had some orders in the high one twenties and filled they were.

I've been all out at .0154, waiting to get back in but not sure how low it's going... would be nice to get back in at .008 or below

Ach....now that's just being greedy. Much better to take a smaller profit, be in the position you want and have the potential to trade further if needs be. 

But each to their own.