[XMR] Monero Speculation

[JungleOnion]

I checked Alphabay and it seems 25% merchants are accepting Monero, thought it would be more. Of course I see that changing in the course of these upcoming weeks.

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[iCEBREAKER]

I checked Alphabay and it seems 25% merchants are accepting Monero, thought it would be more. Of course I see that changing in the course of these upcoming weeks.

25% is waaay more than I expected to accept before XMR was even activated or had GUI binaries.

25% is sufficient to trigger network effects, particularly in light of N. Taleb's suburb analysis.

https://medium.com/@nntaled/the-most-intolerant-wins-the-dictatorship-of-the-small-minority-3f1f83ce4e15

[ArticMine]

Monero is in third place on https://www.coingecko.com/en ahead of Litecoin, and behind Bitcoin and Ethereum.

[aerbax]

I checked Alphabay and it seems 25% merchants are accepting Monero, thought it would be more. Of course I see that changing in the course of these upcoming weeks.

Step back and think about that a bit...25% is significant.  That's a pretty big first step.

[Dafar]

Short term price speculation? I'm mixed about getting in... was sure it was gonna drop more but now not so much


25% is pretty impressive, and if I was buying something at the DNM I'd feel safer using xmr. The people who use DNMs have no problem acquiring xmr

[aminorex]

Against my better judgement, behaving like an addict, I filled up while it was trading a .001 range around the .500 retrace, so I don't see any need for it to go lower.  Now it's trading a .001 range around the .382 retrace, so the next "system 1” (not logical) step would be to jump to the .236 retrace and trade in a .001 range around .0165.

Or, moon.  Either way, I am cool with it.

[bbc.reporter]

Short term price speculation? I'm mixed about getting in... was sure it was gonna drop more but now not so much


25% is pretty impressive, and if I was buying something at the DNM I'd feel safer using xmr. The people who use DNMs have no problem acquiring xmr

What about the problem of some people about the "view key" feature. They said that a court order could make you show your transactions in the clear thru view key. Is this true? Why is that feature even there? It might become Monero's weakness.

[Its About Sharing]

Actually this is quite relevant as well since it was put originally quite close to the spot (I've followed this). On the other hand, the wall guy or girl is playing games with us. He first sets walls and the bids are increased to around 7 000 btc, then suddenly pulls off 1000 btc from buy orders. I am not quite sure what he is trying to do...

I think whoever it is is trying to make a big buy-in without massive upward slippage. So they put the wall there periodically enticing someone to move coins to the exchange and dump, and remove it to avoid pushing the price up.

It's probably a large Bitcoin whale who wants to reallocate/hedge in a big way onto a different chain/project. Someone on the level of Roger Ver, or possibly literallly him (but probably not).

But the volume is huge. If you wanted to buy 7,000 BTC worth of Monero, why not just have a bot do it? If you do it correctly you won't get crazy slippage and you can start the next move up.
That said, I do hope you are right.

One way to look at this scenario, a person with a large ask wall may pull it if a counterparty gives away his/her intention to accumulate with slow nibbles and move their asks higher surmising he/she could fetch a better price, increasing the accumulator's cost

another thought, a person employing a trading bot is probably not working with insignificant amounts of capital

Hey bro! Nice quote before. I remember that book from a loooong time ago.

Above makes a bit of sense. I always chalked it up to people just flexing muscles and messing with others heads, but it makes some sense what you say.
Rarely have I seen those flash offers get filled, buy or sell, though sometimes. Always seemed funny when the sell walls were bought into that had been being pulled.
Anyway, time will tell.

XMR looks to be in a large semi-asymetrical triangle on the 4 hour chart. And if you zoom out to daily, seems to clearly b a large P Formation (as MondoBitcoin used to say - What happened to that guys videos?). Dare I say, we are going to know here soon, which way she goes. I'm betting on up just due to the numbers/history of these types of formations. Here comes the weekend...

[Febo]

I checked Alphabay and it seems 25% merchants are accepting Monero, thought it would be more. Of course I see that changing in the course of these upcoming weeks.

That is huge.  Now if this sellers will sell faster they will start selling only in XMR if they will sell slower will switch back into BTC.

25% is really unexpectedly a lot.

[nanobrain]

The four hour looks like a pennant forming to me.

But it could equally be a dinosaur

[aminorex]

What about the problem of some people about the "view key" feature. They said that a court order could make you show your transactions in the clear thru view key. Is this true? Why is that feature even there? It might become Monero's weakness.

If you have information, you can be compelled to reveal it by only and exactly that force which is able to compel such performance.  I fail to see in what sense the view key mechanism is a problem in such a scenario. The problem, in any such a case, is not the view key, but the fact that you retained the information.  If you wish to preclude being forced to reveal information, you must destroy it.

[Emoclaw]

From what I can see, around 5% of all Alphabay listings can now be paid in XMR.
This could increase exponentially but I can see in the subreddits that many people don't know why they should use XMR instead of BTC.
Vendors are experimenting by accepting XMR on few of their listings, they will accept XMR on all of their listings if there is enough interest. Overall, very interesting.

[Febo]

What about the problem of some people about the "view key" feature. They said that a court order could make you show your transactions in the clear thru view key. Is this true? Why is that feature even there? It might become Monero's weakness.

If you have information, you can be compelled to reveal it by only and exactly that force which is able to compel such performance.  I fail to see in what sense the view key mechanism is a problem in such a scenario. The problem, in any such a case, is not the view key, but the fact that you retained the information.  If you wish to preclude being forced to reveal information, you must destroy it.

I guess courts can not demand only your view key but also can check inside wallet if they want to. View keys can provide to see without actually open the wallet.

[nioc]

I have a hunch that they will release the gui wallet sometime before Monero trading on AlphaBay begins on Sept 1.

Soon..

Well that might be icing on the cake as far as price rise.  Looking forward to the GUI myself.

Not happening before Sep 1.  I will ride the NYC subway naked if the GUI is released before Sept 1st

LOL quoted for posterity.

Although there has been lots of activity on the Monero GitHub with many new contributors, the GUI has not been released.  It's even Sept 1 in Hawaii.  Thanks for being here smoothie

[bbc.reporter]

What about the problem of some people about the "view key" feature. They said that a court order could make you show your transactions in the clear thru view key. Is this true? Why is that feature even there? It might become Monero's weakness.

If you have information, you can be compelled to reveal it by only and exactly that force which is able to compel such performance.  I fail to see in what sense the view key mechanism is a problem in such a scenario. The problem, in any such a case, is not the view key, but the fact that you retained the information.  If you wish to preclude being forced to reveal information, you must destroy it.

Yes that would be the most practical thing to do. I am only curious why there is a view key mechanism and what was the reason why the developers added it as a feature. I am sure there are pros and cons.

[haggis]

What about the problem of some people about the "view key" feature. They said that a court order could make you show your transactions in the clear thru view key. Is this true? Why is that feature even there? It might become Monero's weakness.

If you have information, you can be compelled to reveal it by only and exactly that force which is able to compel such performance.  I fail to see in what sense the view key mechanism is a problem in such a scenario. The problem, in any such a case, is not the view key, but the fact that you retained the information.  If you wish to preclude being forced to reveal information, you must destroy it.

Forcing somebody to support official investigation agains himself is against human rights and does not happen in constitutional democracies. If it does in a nation, that nation defaces itself as being hostile to human rights.

[Ratatosk]

By pure curiosity I had a look on a DNM on Tor, and I really quickly saw :

"Im offering 10% extra on orders if you will pay me with Monero"

Interesting...

EDIT : sorry, I wanted to write this in normal Monero thread, no speculation, error...

[Drhiggins]

What about the problem of some people about the "view key" feature. They said that a court order could make you show your transactions in the clear thru view key. Is this true? Why is that feature even there? It might become Monero's weakness.

If you have information, you can be compelled to reveal it by only and exactly that force which is able to compel such performance.  I fail to see in what sense the view key mechanism is a problem in such a scenario. The problem, in any such a case, is not the view key, but the fact that you retained the information.  If you wish to preclude being forced to reveal information, you must destroy it.

I guess courts can not demand only your view key but also can check inside wallet if they want to. View keys can provide to see without actually open the wallet.

Seems to me you could apply the 5th Amendment here in the U.S. for a view key request.  But to be sure you should consult with your attorney.

[infofront]

As usual, XMR was dumped last night. However, it never dropped below .014, which is encouraging.

[sparky999]

By pure curiosity I had a look on a DNM on Tor, and I really quickly saw :

"Im offering 10% extra on orders if you will pay me with Monero"

Interesting...

EDIT : sorry, I wanted to write this in normal Monero thread, no speculation, error...

I took a look (strictly a look - shout out to the LE reading this thread) too - best offer I saw was 20% extra for using Monero. I would expect smaller vendors trying to build market share to use Monero offers as a marketing tool to attract new customers which will in turn force larger sellers into accepting Monero so as to not lose market share. Economics is beautiful.