[XMR] Monero Speculation

[ozkraut]

The price of bitcoin is around 900 usd in India.
It is just a matter of time when the rise from India spills over to other markets. In fact, the price of bitcoin have been above the other markets for some time (thanks to the cash issues I suppose).

https://localbitcoins.com/country/IN

My speculation is that the majority of the weak hands have been shaken out and when we prepare for bitcoin mooning we might see actually new ATH of Monero as well both in terms of fiat and bitcoins (some of the bitcoin maximalists might diversify a little).

not the first time i am hearing that ... btc in india 900 $ ... yeah ... on the other hand their volume is fucking insane ... almost 300 btc in a whole week :O WOW that will drive the price up, for sure ...
(source for volume: https://coin.dance/volume/localbitcoins/INR)

but hey i guess it will drive the price, even if its just a bad joke with that volume, but because people like you beliefe what the pumpers tell them, im almost sure that plan will work and btc will go up ... but for sure not because of the price in india but because of the pumpers that spread such "lies" :O

sry i hope thats not to personal, i'm just sick of that india pumping joke ...

TC is intellectually challenged by just everything. So don't take to much weight in what he says. Just smile and pet him well. I think his zcash long just makes him feel smarter since it will become the leading world currencie soon thank to the most talented devs in history (zcash team)

Lol ZKP indeed

[naneto]

Guys do you think that one day we will see 1 billion market cap for Monero?

[luigi1111]

Guys do you think that one day we will see 1 billion market cap for Monero?

Yes maybe tomorrow.

If not there's always the day after. 

[ArticMine]

The price of bitcoin is around 900 usd in India.
It is just a matter of time when the rise from India spills over to other markets. In fact, the price of bitcoin have been above the other markets for some time (thanks to the cash issues I suppose).

https://localbitcoins.com/country/IN

My speculation is that the majority of the weak hands have been shaken out and when we prepare for bitcoin mooning we might see actually new ATH of Monero as well both in terms of fiat and bitcoins (some of the bitcoin maximalists might diversify a little).

It may be, but the fundamentals simply do not support it. There is simply no way that Bitcoin, with its 1 MB blocksize limit, can make even a minuscule dent in the cash transaction market in India no matter how many large denomination Indian rupee bills are taken out of circulation by the Indian government.

[pa]

The price of bitcoin is around 900 usd in India.
It is just a matter of time when the rise from India spills over to other markets. In fact, the price of bitcoin have been above the other markets for some time (thanks to the cash issues I suppose).

https://localbitcoins.com/country/IN

My speculation is that the majority of the weak hands have been shaken out and when we prepare for bitcoin mooning we might see actually new ATH of Monero as well both in terms of fiat and bitcoins (some of the bitcoin maximalists might diversify a little).

It may be, but the fundamentals simply do not support it. There is simply no way that Bitcoin, with its 1 MB blocksize limit, can make even a minuscule dent in the cash transaction market in India no matter how many large denomination Indian rupee bills are taken out of circulation by the Indian government.

Why are you so convinced that SW+LN won't scale?

[kurious]

The price of bitcoin is around 900 usd in India.
It is just a matter of time when the rise from India spills over to other markets. In fact, the price of bitcoin have been above the other markets for some time (thanks to the cash issues I suppose).

https://localbitcoins.com/country/IN

My speculation is that the majority of the weak hands have been shaken out and when we prepare for bitcoin mooning we might see actually new ATH of Monero as well both in terms of fiat and bitcoins (some of the bitcoin maximalists might diversify a little).

It may be, but the fundamentals simply do not support it. There is simply no way that Bitcoin, with its 1 MB blocksize limit, can make even a minuscule dent in the cash transaction market in India no matter how many large denomination Indian rupee bills are taken out of circulation by the Indian government.

Why are you so convinced that SW+LN won't scale?

I think I should probably leave ArcticMine to answer that. 

But AFAIK most of the 'increase' in blocksize with Segwit is for Segwit superfluous stuff, it won't massively increase the block capacity for transactions.   No one knows where it is taking us and my personal instinct is it won't quite be Bitcoin anymore. 

For me upping blocksize and just working to control spam with fees was easier and simple.  With Segwit, I am not sure where it goes, I just hope it lasts for long enough to not spoil it all and allow better crypto tech to surpass it, hence my long term investment in XMR.

[CoinCidental]

The price of bitcoin is around 900 usd in India.
It is just a matter of time when the rise from India spills over to other markets. In fact, the price of bitcoin have been above the other markets for some time (thanks to the cash issues I suppose).

https://localbitcoins.com/country/IN

My speculation is that the majority of the weak hands have been shaken out and when we prepare for bitcoin mooning we might see actually new ATH of Monero as well both in terms of fiat and bitcoins (some of the bitcoin maximalists might diversify a little).

It may be, but the fundamentals simply do not support it. There is simply no way that Bitcoin, with its 1 MB blocksize limit, can make even a minuscule dent in the cash transaction market in India no matter how many large denomination Indian rupee bills are taken out of circulation by the Indian government.

you should google " bitcoin unlimited "  ............

[kurious]

The price of bitcoin is around 900 usd in India.
It is just a matter of time when the rise from India spills over to other markets. In fact, the price of bitcoin have been above the other markets for some time (thanks to the cash issues I suppose).

https://localbitcoins.com/country/IN

My speculation is that the majority of the weak hands have been shaken out and when we prepare for bitcoin mooning we might see actually new ATH of Monero as well both in terms of fiat and bitcoins (some of the bitcoin maximalists might diversify a little).

It may be, but the fundamentals simply do not support it. There is simply no way that Bitcoin, with its 1 MB blocksize limit, can make even a minuscule dent in the cash transaction market in India no matter how many large denomination Indian rupee bills are taken out of circulation by the Indian government.

you should google " bitcoin unlimited "  ............

Try convincing enough of the miners of that... It's still not 95%. Yet.

[ArticMine]

...

Why are you so convinced that SW+LN won't scale?

Basic math.

SW is an effective one time increase maybe by 100% that is it.

As for LN I would start by reading the LN paper in particular the conclusion. https://lightning.network/lightning-network-paper.pdf . Under a highly optimistic scenario they are talking about 133 MB blocks instead of 24 GB blocks, a factor of ~185x. A more realistic factor could easily be a factor of 10 or more less. So again a one time increase that is it.

The reality is that while SW and LN are likely very useful technologies in their own right they do not address the fundamental problem facing Bitcoin: How does one scale the number of transactions on the blockchain while at the same time maintaining the security of the POW and create a scarcity on the blocksize to avoid spam attacks? As for Bitcoin unlimited it fails on both the security and anti spam angles above.

If someone has a solution other than what is in Monero, namely the combination of an adaptive blocksize limit with a block reward based penalty and a tail emission, I would love to see it. In over 4 years looking at this issue I have not seen another workable solution.

Edit: Bitcoin unlimited is based upon the paper of Peter R. Rizun https://www.bitcoinunlimited.info/resources/feemarket.pdf. Again if one takes a look at the conclusion one finds that the effective penalty for increasing the blocksize is proportional to the block reward. Now what happens when the block reward goes to zero? There is no effective penalty and the blocksize increases with no constraint. So how is the POW supposed to be secured in this scenario? The other problem with this approach is that it relies on network failure in the form of a very significant probability of orphan blocks to constrain the blocksize.  

[mfqrs3]

So, Xmr is going up finally ?

[infofront]

I believe at least part of the XMR rise is due to the short term disappointment in ZCash.

A lot of "investors" likely dumped XMR to buy into ZCash. Now that the hype is over and ZCash seems to be underperforming, the money is flowing back to XMR.

[starmman]

I believe at least part of the XMR rise is due to the short term disappointment in ZCash.

A lot of "investors" likely dumped XMR to buy into ZCash. Now that the hype is over and ZCash seems to be underperforming, the money is flowing back to XMR.

Makes sense - XMR is a much better investment than ZCash in my opinion - I'm glad the dump happened as the previous pump took me by surprise and I sold out too early. since the drop I managed to accumulate much more than I sold.

[mnemonicsoup]

Precompiled Gui for mac, seems to work perfectly:

https://www.dropbox.com/s/u5uljx9aqcyhttg/monero-core-osx-161121-jaquee.zip?dl=0

https://github.com/monero-project/monero-core/issues/191#issuecomment-262056649

[ArticMine]

Bitcoin trying to meet market demand with a 1 MB blocksize. https://bitcointalk.org/index.php?topic=1690349.0;all

[KeyJockey]

Precompiled Gui for mac, seems to work perfectly:

https://www.dropbox.com/s/u5uljx9aqcyhttg/monero-core-osx-161121-jaquee.zip?dl=0

https://github.com/monero-project/monero-core/issues/191#issuecomment-262056649

What's the minimum OS X version required for this?

I'm still on 10.9.5 on my MacBook just 'cuz I seriously hate the latest UI design changes that Apple's implemented.  Sticking to Mavericks here as long as I can hold out LOL

Hopefully still gonna be able to run Monero GUI even on older systems??

[elrippo]

If this trend, doubling every 20 days, keeps on we have a nice christmas present under our trees 

[dEBRUYNE]

Precompiled Gui for mac, seems to work perfectly:

https://www.dropbox.com/s/u5uljx9aqcyhttg/monero-core-osx-161121-jaquee.zip?dl=0

https://github.com/monero-project/monero-core/issues/191#issuecomment-262056649

What's the minimum OS X version required for this?

I'm still on 10.9.5 on my MacBook just 'cuz I seriously hate the latest UI design changes that Apple's implemented.  Sticking to Mavericks here as long as I can hold out LOL

Hopefully still gonna be able to run Monero GUI even on older systems??

Should work fine on older systems too.

[mnemonicsoup]

Precompiled Gui for mac, seems to work perfectly:

https://www.dropbox.com/s/u5uljx9aqcyhttg/monero-core-osx-161121-jaquee.zip?dl=0

https://github.com/monero-project/monero-core/issues/191#issuecomment-262056649

What's the minimum OS X version required for this?

I'm still on 10.9.5 on my MacBook just 'cuz I seriously hate the latest UI design changes that Apple's implemented.  Sticking to Mavericks here as long as I can hold out LOL

Hopefully still gonna be able to run Monero GUI even on older systems??

Should work, just test it...

[KeyJockey]

Precompiled Gui for mac, seems to work perfectly:

https://www.dropbox.com/s/u5uljx9aqcyhttg/monero-core-osx-161121-jaquee.zip?dl=0

https://github.com/monero-project/monero-core/issues/191#issuecomment-262056649

What's the minimum OS X version required for this?

I'm still on 10.9.5 on my MacBook just 'cuz I seriously hate the latest UI design changes that Apple's implemented.  Sticking to Mavericks here as long as I can hold out LOL

Hopefully still gonna be able to run Monero GUI even on older systems??

Should work fine on older systems too.

Great to hear dEBRUYNE... thanks.  Lookin' forward to it

[KeyJockey]

Heh, okay folks... just dove in to try this (insert Hunter S. Thompson voice quote here, "Yeah... Why Not?")

That download is a nice simple zipped file with a single *.app inside... I unzipped it and moved to my own custom "Programs" folder on OS X (I don't always keep stuff in the main designated Apple "Applications" or "Utilities" folder).  Double click to run and "authorize" to OS X that it's from the Internet (yeah yeah okay I know it's a risk...)

So far running fine, started up clean and seems A-OK... so far... knock on wood...

I have not actually tried any transaction yet however... will do that ASAP (don't have any free XMR at the moment, all my long term Moneroj are in cold storage)

Here's a screen shot for the curious:





P.S. Anyone impatient with me testing an actual transaction wanna send me ten cents worth or something, here's the address of screenshot above in text format : 46Gj6yyxcDCHEPCuqma5wKLWKKjZAyfqGCtTj79TLNqW2hhGZ8FmHHpEMwpNYGFRbyB82PLVgWRzEak ZggXirGv72EYLF1u

P.P.S. What does "Network Status - Disconnected" down in the lower left mean?  I'm not actually able to send/receive until the whole XMR Blockchain is downloaded maybe?  Just guessing here but if so that needs to be made more clear to the user I think...