[XMR] Monero Speculation

[resonator]

any chance of BTC price rise soon ?

[Anon136]

The minimum fee decreased from 0.01 XMR per kB to 0.002 XMR per kB today!

https://www.reddit.com/r/Monero/comments/564hci/the_minimum_fee_will_decrease_from_001_xmr_per_kb/

I wonder what needs to happen that Poloniex change their withdrawal fee to be less then 20 times expensive as withdrawing BTC.

They will have to standardize denominations is all. Right now they are allowing people to just click "send all" and dropping 12 decimal places worth of precision into transactions.

Heck honestly the dev team should consider limiting precision beyond any reasonable threshold until the price rises. Maybe 0.00001 at the absolute most. It would cut back on sooo much blockchain spam.

But either way, even if not that, polo should limit it to 0.001 which is around 0.01 USD worth of precision. More than enough for any practical application and would cut back on the fees they are paying tremendously.

any chance of BTC price rise soon ?

yes?

[nanobrain]

big old green candles....if you are thinking of selling...don't

EDIT
50K+ volume  in 15 mins....in the middle of the night US time and traditionally a slow time for this market.
So, either the Chinese have entered the room or someone is having a deliberate late night in order to catch out sleeping shorters.  Some serious action in the next 18 hours.

[Barry Shillbert Vs Broger]

I like the Polobox atm a bit more than the positive DNM news So much ppl. obv. ran too late into a short position with XMR and are very afraid of being liquidated

btw. positive news from AlphaBay, larger usage:

This is an important announcement regarding the "auto accounts" section on Alphabay. On Sunday, October 9th 2016 at 09:00 Moscow time, the "auto accounts" section will be removed from Alphabay.

The credit card autoshop will remain unaffected and will continue to work as normal. All vendors who are selling data on the "auto accounts" shop will have 72 hours to move their data to the newly created sections in "Accounts & Bank Drops" subsection of "Fraud" section, and make listings for the data.

If you still wish to have your sales automatically fulfilled like before, don't forget to add your data to the "auto-fulfill" list and your buyers will continue to receive their orders like before.

There are many reasons behind this change, the main ones being:
1) Over time, the "auto accounts" section has been littered by so much rubbish data and people using ASCII tricks to confuse the search results;
2) The "auto accounts" section was making it easier for scammers to operate without getting caught due to rudimentary feedback system;
3) It will now be easier to manage a single system for all purchases, giving the possibility to vendors to build feedback with their sales;
4) It will now be possible to accept Monero for those accounts;
5) It will help clean up the listings by offering appropriate categories rather than a throwaway "Others" category.

Pending "auto accounts" disputes will be promptly taken care of. FE-approved vendors may request FE for their newly-created listings by setting the correct "payment method" while editing the listing.

This is HUGE. Dark net markets embraces and increase use of Monero like BTC early days!  

[Anon136]

big old green candles....if you are thinking of selling...don't

Psh. I'm going down with the ship if it comes to that.

[CoinCidental]

big old green candles....if you are thinking of selling...don't

Psh. I'm going down with the ship if it comes to that.

You would be nuts to dump xmr at these prices  I would advise most people to relax until at least after 0.02 or the next ATH before selling ANY..... even then don't sell them all...

[freedomgo]

big old green candles....if you are thinking of selling...don't

Psh. I'm going down with the ship if it comes to that.

You would be nuts to dump xmr at these prices  I would advise most people to relax until at least after 0.02 or the next ATH before selling ANY..... even then don't sell them all...

We have a very good increase today, it his going to be reach to the amount of 0.02 again, I am actually tired of waiting that price again. I hope this increase is not just a temporary one and I can still see this will continue to happen.

[adolf512]

Looks like i am done investing in XMR now, i refuse to buy above 0.011, i will save my last bitcoins(0.67), losing money(currently 60$) for not buying really sucks. Currently my profit is only 250$, that sucks. The people that sold below 0.011 must have horrible anxiety right now, it took some balls to hold and buy even more(i chickened out and didn't go all in).

I have a feeling the price might drop below 0.011 again, will keep a few bids there in the case that happens.

[elrippo]

Looks like i am done investing in XMR now, i refuse to buy above 0.011, i will save my last bitcoins(0.67), losing money(currently 60$) for not buying really sucks. Currently my profit is only 250$, that sucks. The people that sold below 0.011 must have horrible anxiety right now, it took some balls to hold and buy even more(i chickened out and didn't go all in).

I have a feeling the price might drop below 0.011 again, will keep a few bids there in the case that happens.

Hmmmm, looks to me we will get the low of round about 0,010 around 10'th of october. From there we should see a nice rise to somewhere 0,020 at around 02'nd of november, if we hit the 0,010 around 10'th of october 

If we stay at the current 0,015 level until 15'th of october, well, then things will get interesting 

[Anon136]

Looks like i am done investing in XMR now, i refuse to buy above 0.011, i will save my last bitcoins(0.67), losing money(currently 60$) for not buying really sucks. Currently my profit is only 250$, that sucks. The people that sold below 0.011 must have horrible anxiety right now, it took some balls to hold and buy even more(i chickened out and didn't go all in).

I have a feeling the price might drop below 0.011 again, will keep a few bids there in the case that happens.

Aww. How seriously you take such tiny numbers is adorable! I don't mean that to be mean. I'm serious. Made me smile.

[Bagatell]

Looks like i am done investing in XMR now, i refuse to buy above 0.011, i will save my last bitcoins(0.67), losing money(currently 60$) for not buying really sucks. Currently my profit is only 250$, that sucks. The people that sold below 0.011 must have horrible anxiety right now, it took some balls to hold and buy even more(i chickened out and didn't go all in).

I have a feeling the price might drop below 0.011 again, will keep a few bids there in the case that happens.

Aww. How seriously you take such tiny numbers is adorable! I don't mean that to be mean. I'm serious. Made me smile.

Samsung Mao approves this message.

[smooth]

Here is a very interesting article by the Electronic Frontier Foundation on "How Big Pharma's Shadow Regulation Censors the Internet" https://www.eff.org/deeplinks/2016/09/how-big-pharmas-shadow-regulation-censors-internet The article does not mention Monero at all but it does identify the role of shadow regulation in censoring payment processors. In this case to deny medicines at an affordable price to people in need for the furtherance of corporate greed and the "protection of intellectual property". When dealing with pharmaceuticals this can in many cases be a matter of life and death.

A fungible, private and anonymous, crypto currency that is not constrained by artificial limits on the number transactions per second, can actually save people's lives.

At the payment processor level, yes they would not be able to censor monero payments.

But there still exists the issue of censoring actual domain names and confiscation at the border when importing these prescription drugs.

Thanks for the article, I had not known of such ridiculous laws. But i'm not surprised either.

Apparently confiscation is not the major issue, payments and domains/hosting/blocking of sites are:

In practice however, discretionary guidelines developed by the Food and Drug Administration (FDA) and enforced by the CBP allow American consumers to import a 90-day supply of some prescription medications for personal use, including by bringing them across border checkpoints in personal luggage, or by mailing them from overseas.

I guess the "major issue" must be defined by each individual as the quote you posted claims that some prescription medications are allowed to be imported in 90-day supply amounts.

Not sure how much is "some".

Trade wars between countries has begun and will likely accelerate over the coming years. Such a barrier at the border/customs will likely only get worse as world trade unravels due to global recession.

The word "some" there refers to restrictions on types of medications. Xanax will be more of a problem (still allowed, in theory, but with added requirements)

There is a ample evidence of government pressure on the payments industry being used not only in this case but more generally to crack down on disfavored businesses that are legal. See Operation Chokepoint. We can't solve every problem in the world with one tool, but that that is absolutely something we can actually do something about.

[cryptimus prime]

Looks like i am done investing in XMR now, i refuse to buy above 0.011, i will save my last bitcoins(0.67), losing money(currently 60$) for not buying really sucks. Currently my profit is only 250$, that sucks. The people that sold below 0.011 must have horrible anxiety right now, it took some balls to hold and buy even more(i chickened out and didn't go all in).

I have a feeling the price might drop below 0.011 again, will keep a few bids there in the case that happens.

You are making it to complicated for yourself. Like I said, my entry point was mostly around 0.50 USD and then around 2-3 USD and nevertheless I decided to jump in with some money at 6 USD because it is still cheap. You should also be aware that every day following positive news/rumours could come out:

• GUI wallet finished
• another exchange added XMR
• another DNM adds XMR (would not be so surprised by this)
• not to forget a growing community and as I can see also some new developers

In this case you will stand on the earth and see the evil green rockets start, while muttering how it was too expensive.

[DaveyJones]

Looks like i am done investing in XMR now, i refuse to buy above 0.011, i will save my last bitcoins(0.67), losing money(currently 60$) for not buying really sucks. Currently my profit is only 250$, that sucks. The people that sold below 0.011 must have horrible anxiety right now, it took some balls to hold and buy even more(i chickened out and didn't go all in).

I have a feeling the price might drop below 0.011 again, will keep a few bids there in the case that happens.

It is not investing if you trade every little swing and only care of your in Dollar profit .... thats called speculating or gambling :p

[adolf512]

You are making it to complicated for yourself. Like I said, my entry point was mostly around 0.50 USD and then around 2-3 USD and nevertheless I decided to jump in with some money at 6 USD because it is still cheap. You should also be aware that every day following positive news/rumours could come out:

• GUI wallet finished
• another exchange added XMR
• another DNM adds XMR (would not be so surprised by this)
• not to forget a growing community and as I can see also some new developers

In this case you will stand on the earth and see the evil green rockets start, while muttering how it was too expensive.

Yes you are 100% correct, but i have decided to always stick to my rules and my rule for xmr is not to buy above 0.011 (i own 470 xmr already). I would of course never sell at this level, the price is more likely to go up than down now.

[smoothie]

Here is a very interesting article by the Electronic Frontier Foundation on "How Big Pharma's Shadow Regulation Censors the Internet" https://www.eff.org/deeplinks/2016/09/how-big-pharmas-shadow-regulation-censors-internet The article does not mention Monero at all but it does identify the role of shadow regulation in censoring payment processors. In this case to deny medicines at an affordable price to people in need for the furtherance of corporate greed and the "protection of intellectual property". When dealing with pharmaceuticals this can in many cases be a matter of life and death.

A fungible, private and anonymous, crypto currency that is not constrained by artificial limits on the number transactions per second, can actually save people's lives.

At the payment processor level, yes they would not be able to censor monero payments.

But there still exists the issue of censoring actual domain names and confiscation at the border when importing these prescription drugs.

Thanks for the article, I had not known of such ridiculous laws. But i'm not surprised either.

Apparently confiscation is not the major issue, payments and domains/hosting/blocking of sites are:

In practice however, discretionary guidelines developed by the Food and Drug Administration (FDA) and enforced by the CBP allow American consumers to import a 90-day supply of some prescription medications for personal use, including by bringing them across border checkpoints in personal luggage, or by mailing them from overseas.

I guess the "major issue" must be defined by each individual as the quote you posted claims that some prescription medications are allowed to be imported in 90-day supply amounts.

Not sure how much is "some".

Trade wars between countries has begun and will likely accelerate over the coming years. Such a barrier at the border/customs will likely only get worse as world trade unravels due to global recession.

The word "some" there refers to restrictions on types of medications. Xanax will be more of a problem (still allowed, in theory, but with added requirements)

There is a ample evidence of government pressure on the payments industry being used not only in this case but more generally to crack down on disfavored businesses that are legal. See Operation Chokepoint. We can't solve every problem in the world with one tool, but that that is absolutely something we can actually do something about.

The word usage meant to entail that they did not clarify how much of the generalized prescription drug industry were allowed this 90-day supply.

Perhaps the wording should have been "not sure which drugs are considered as 'some'".

Operation Chokepoint has been on my radar for some time. That applies here for sure.

And yes, monero wasn't created to solve every problem and indeed it is providing a solution to a specific subset of problems.

What is baffling is that this 90-day supply allowance for some prescription drugs is the equivalent of saying:

"Hey you can get the product you need to survive at a lower cost, but only in 90-day supply amounts, no more."

Gee thanks Gubmint. Indeed governments are not for the people, but for the power/money/control.

[bbc.reporter]

Am I wrong in thinking that XMR will go down back to .005? That is where all the craziness started so maybe it will also end there. The rise above that level was clear manipulation from the people involved in the darknet market.

[nanobrain]

Am I wrong in thinking that XMR will go down back to .005?

Probably

[smoothie]

Am I wrong in thinking that XMR will go down back to .005? That is where all the craziness started so maybe it will also end there. The rise above that level was clear manipulation from the people involved in the darknet market.

How exactly did they manipulate the market?

By an announcement and perhaps some bids on the price?

I am pretty sure this "manipulation" you speak of is just another way of attempting to rationalize an irrational market.

[bbc.reporter]

@smoothie. It is very clear that XMR was pumped by some people who knew about the darknet market acceptance. Do you not think that is a form of manipulation?