[XMR] Monero Speculation

[bitwolf]

I make it XMR $25 based on Stamp prices.

Sweet.

Yeah, topped C$35 today 

 (yawn) Wake me when it hits 100$. I mean xmr and btc.

[kurious]

Reviewing my posting history.....

I know you said you didn't want a continuing discussion, but your mea culpa is a surprise and one I respect.

Just to say, I for one have found your posts and undoubted knowledge always worth taking on board and sometimes a revelation.  I followed you, Risto, and KFR into Monero at the point it was still being decided what to call it when no exchange was even listing it.  I obviously have no regrets.

If you are refocusing your priorities in life, good for you. And if this post was part of helping you achieve that, I hope it has done the job intended.

I am sure it is not just me who thinks you are and always have been important to the core of Monero supporters.  In my estimation, far more people here owe you thanks than you owe an apology to, if you owe any apology at all.

So yes, re-balance your life, but please don't stop dropping by and posting, whatever mood you're in!  

Good luck in focusing on what matters, instead of a screen - we probably all need to think about that.  

[kurious]

Thanks for all the replies people Appreciated.

I could accept that the new money coming in was genuine investment if it weren't for the fact metals are currently taking a beating; if economic sentiment was so negative we would be seeing increases in traditional alternative investments as well as new alternative investments.

So the money coming into crypto is either new and naive or not looking for any long term investment; or it is not new money but existing investors who have become intoxicated with daily profits and are committing more capital.  Regardless fundamentals have become irrelevant to many.  That suits the 'whales' and the Chinese miners who, being more acquainted with cryptos whims and vagaries, are looking for a profitable exit route.  And such a route has been made more difficult by circumstances at Finex and PBC dictats.

So we find ourselves in a situation where coins with no significant utility are worth 80USD, an anonymous coin which isnt actually anonymous (I'm looking at you Dash) is worth near a 100USD and a coin that is no longer fungible is worth over 1500usd.  This strikes me as a market that has collectively lost its sense of judgement and proportion (behaviour takes strange turns in large groups) and irrational markets are neither safe nor predictable places to store wealth.
 
For me, there may well be further profits ahead but the correction is going to be swift, deep and bloody.

Spot on, Nano - 'if it looks like a bubble...'  Glad I am not the only one who feels it's looking less than rational.  Yes, markets as they say can stay irrational for a long time.   But the more irrational, the bigger the crash back to reality.  

I have been having 'that 2013 feeling' and I am concerned on the fundamentals becoming unsupportable.  Carnage is now looking a possibility, so I am factoring it in.  

Sometimes it's always better to sell 'too early' than be filled with regret.

[cryptimus prime]

Aminorex you are a poet.

Some predictions for XMR on Tradingview, most call a massive bullish cycle, bullish patterns like cup and handle or reverse head and shoulders:

https://www.tradingview.com/chart/XMRBTC/fayS7Ms8-Monero-XMRBTC-Cup-Handle/
https://www.tradingview.com/chart/XMRBTC/kocZdQC5-Monero-XMRBTC-Inverse-Head-Shoulders/
https://www.tradingview.com/chart/XMRBTC/E0WJygdm-XMRBTC-new-bull-cycle/
https://www.tradingview.com/chart/XMRUSD/6HdI4WUp-XMR-MASSIVE-CUP-AND-HANDLE/

If this pattern should coincidentally overlap with some important news like coinbase or whatever...and BTC could also take a dip at the same time...

[dranster]

Aminorex you are a poet.

Some predictions for XMR on Tradingview, most call a massive bullish cycle, bullish patterns like cup and handle or reverse head and shoulders:

https://www.tradingview.com/chart/XMRBTC/fayS7Ms8-Monero-XMRBTC-Cup-Handle/
https://www.tradingview.com/chart/XMRBTC/kocZdQC5-Monero-XMRBTC-Inverse-Head-Shoulders/
https://www.tradingview.com/chart/XMRBTC/E0WJygdm-XMRBTC-new-bull-cycle/
https://www.tradingview.com/chart/XMRUSD/6HdI4WUp-XMR-MASSIVE-CUP-AND-HANDLE/

If this pattern should coincidentally overlap with some important news like coinbase or whatever...

Coinbase is not going to add a shitty 350m marketcap coin that is not even anon yet. Coinbase minimum requirements is $1 Billion marketcap and good luck with that

[cryptimus prime]

@dranster

Go and play with your Doge stash, leave this intellectually challenging discussion to the big boys, it`s nothing for you.

[iCEBREAKER]

I wish to apologize for (1) arrogant, domineering argumentation styles or intellectual jiu jitsu, (2) self-aggrandizing impostures, (3) creating the impression that financial gain was a central goal or essential to a prosperous life, and (4) that my personal accomplishments, qualifications, or connections were somehow grandiose.  While I have not identified any actual falsehoods in my posts, upon review it is clear that some were (if not consciously, nonetheless in practice, and very likely by subconscious intent) misleading puffery, by their unstated implications.

Don't apologize for that stuff.  It's what makes this thread (and forum) colorful and lots of fun.

Bitcoin runs on drama; Monero runs on comedy.

a coin that is no longer fungible is worth over 1500usd.

Bitcoin's ultimate use case, as a high-powered settlement network which keeps institutions provably honest and solvent, requires the radical transparency intrinsic to its One True Ledger.

[IntroVert]

Coinbase is not going to add a shitty 350m marketcap coin that is not even anon yet. Coinbase minimum requirements is $1 Billion marketcap and good luck with that

Not quite. LTC had less than "shitty 350m marketcap" less than 2 months ago. Pretty sure Coinbase was working on LTC support then. You can argue Charlie Lee is there and whatnot. I think they more care for staying power/track record, ability to innovate, governance and of course making money out it. XMR fits all of this.

[arbitrage]

When we are talking about market cap i cannot not to notice, differences in the number of total coins, and when you compare them XMR is in better position as more respectable, usable and precious. No one can deny XMR sucess any more!
it's just question of time.

[ozkraut]

Coinbase is not going to add a shitty 350m marketcap coin that is not even anon yet. Coinbase minimum requirements is $1 Billion marketcap and good luck with that

Not quite. LTC had less than "shitty 350m marketcap" less than 2 months ago. Pretty sure Coinbase was working on LTC support then. You can argue Charlie Lee is there and whatnot. I think they more care for staying power/track record, ability to innovate, governance and of course making money out it. XMR fits all of this.

Don't feed......and so on. That persons comment is as important as a bicycle falling over in Beijing....

[KeyJockey]

Reviewing my posting history.....

I know you said you didn't want a continuing discussion, but your mea culpa is a surprise and one I respect.

Just to say, I for one have found your posts and undoubted knowledge always worth taking on board and sometimes a revelation.  I followed you, Risto, and KFR into Monero at the point it was still being decided what to call it when no exchange was even listing it.  I obviously have no regrets.

If you are refocusing your priorities in life, good for you. And if this post was part of helping you achieve that, I hope it has done the job intended.

I am sure it is not just me who thinks you are and always have been important to the core of Monero supporters.  In my estimation, far more people here owe you thanks than you owe an apology to, if you owe any apology at all.

So yes, re-balance your life, but please don't stop dropping by and posting, whatever mood you're in!  

Good luck in focusing on what matters, instead of a screen - we probably all need to think about that.  

Absolutely, +100 on this totally.  Money isn't everything (although having some makes it possible in life to do what's more important).

I'm probably more than a little guilty of enjoying watching the pretty green candles moving up and to the right lately, LOL, but I kinda feel like I earned it from starting to buy bitcoins after the 2013 bubble broke $1000.  I bought my first BTC at about $950... then more and more all the way down to the $300's... and now all the way back up here to where we are today.

Believing in the technology's potential to improve the human condition on this blue planet is more important than making profit *but* YES of course I'm enjoying watching the green candles, anyway.  If/when they turn more red?  Will something change?  Probably not much.

Anyway, yes agree 100% too AMINOREX please do not LEAVE again.  Your erudite wisdom and advices are responsible for vastly more *good* that's come about here than any mea-culpa you may feel for any perceived 'arrogance' or whatever.  Don't worry about it dude, it's all good

Plus your avatar kicks ass... Fear & Loathing all the way LOL

[Hueristic]

George Maxwells speak at Coinbase has practically made DASH on Coinbase impossible, ZCash unlikely and XMR very likely.
Very bullish.

Maxwell: "Zcash is not unconditionally sound, can't be with current tech...."
Maxwell: "Dash isn't cryptographically private at all...it's snakeoil and I'm just sort of beside myself about it, personally."

I guess you are referring to this recent video? Seems that I have something to watch tonight.
https://www.youtube.com/watch?v=LHPYNZ8i1cU

Greg Maxwell on Confidential Transactions, 28 April 2017
Speakers at Coinbase, Published on May 2, 2017

I enjoyed that video but there a few things I didn't like for example he left the monero screen up while calling out dash so anyone that wasn't watching closely would have looked up every time he said snakeoil (about 4 times) and they would have seen monero on the screen. He said he had a screen with Dash and just LOL so why did he remove that? He also skimmed alot of monero features and when he spoke about the eliptic curve it was a blurb that got drowned out by a background sound and it looked pretty timed. It's obvious he's down playing monero and pushing his side chains and I didn't like the fact he didn't make it clear That Monero already Has CT also I didn't like the way he said that monero is linkable without clarifying that that had been a known issue and has been addressed. From his wording you would think that all ring transactions are linkable.

TLDR: He skimmed XMR while making it sound as if it can be ignored now and is not a solution.

I think the DEV team or Someone who is heavily invested should take the monero portion and make a rebuttal video. If you looked at the vid with rose colored glasses he didn't tear Monero up as bad as the others but he did and it was a soft troll job. You guys need to watch this as if you know nothing about monero and you will not come off thinking it is any solution and that CT sidechains are the solution which I'm sure we all disagree with here.

Added: I did like in the questions where he admitted that competing with monero would be difficult because of the forced CT on XMR.

[Hueristic]

Yes this Coinbase talk is good for XMR. Hope it will get the attention it needs on social media.

Also look at the chart and predictions over on tradingview, many traders see a massive cup and handle formation on XMR forming and ready for breakout.

https://www.tradingview.com/chart/XMRUSD/6HdI4WUp-XMR-MASSIVE-CUP-AND-HANDLE/

Prepare to moon my friends, this has only begun.

Here come the shillacounts (risto I see you).

{snip}

When rising prices cause rising mood and falling prices cause falling countenance, something is very wrong.  If nothing else, it is counterproductive to good decision-making.  Don't be that guy (or gal).  Get out and enjoy the world, and do some good in it.  Be physically, emotionally, and spiritually healthier for it. I hope to see you there

Great advice to live by, this is a for of gambling and being in the right place at the right time has a large luck factor that many attribute to skill. that is a false assumption that can cost you everything you have gained in the long run. Luckily for me I'm always at the wrong place at the wrong time so no worries there.

[Nathan047]

Aminorex you are a poet.

Some predictions for XMR on Tradingview, most call a massive bullish cycle, bullish patterns like cup and handle or reverse head and shoulders:

https://www.tradingview.com/chart/XMRBTC/fayS7Ms8-Monero-XMRBTC-Cup-Handle/
https://www.tradingview.com/chart/XMRBTC/kocZdQC5-Monero-XMRBTC-Inverse-Head-Shoulders/
https://www.tradingview.com/chart/XMRBTC/E0WJygdm-XMRBTC-new-bull-cycle/
https://www.tradingview.com/chart/XMRUSD/6HdI4WUp-XMR-MASSIVE-CUP-AND-HANDLE/

If this pattern should coincidentally overlap with some important news like coinbase or whatever...and BTC could also take a dip at the same time...

As much as I would love to see Monero on coinbase, I don’t think that an anonymous coin would work very well on it. Not only does coinbase require you to verify your identity (meaning if an address ends up getting looked into you’ve already proven it was you), the current Subpoena, and the fact the US always has their eyes on coinbase seems to be kind of a down side for adding Monero.

Nevertheless, I guess since I don’t do anything illegal with Monero (I just use it an investment and support of a crypto with unique tech), me (and people like me) may enjoy it if Monero does get added to coinbase. I think everybody would also enjoy the pump from it.

[Febo]

Obvious thing is that high BTC price push Monero BTC value down and Monero USD value up.

Those that thinks BTC is to expensive are I think wrong. Bitcoin is on a second longest raise in its modern history.  This long raises ofcourse did not happen right before ATH.

Five Historically Longest Series Of Up-Movements Of The Daily Weighted Average Bitcoin Price On Bitstamp:

24 Feb 2013 - 06 Mar 2013: 11 days,   28.97 -   46.39

30 Mar 2013 - 09 Apr 2013: 11 days,   89.86 -  214.86

24 Aug 2013 - 02 Sep 2013: 10 days,  107.81 -  130.57

03 Oct 2013 - 16 Oct 2013: 14 days,  109.65 -  142.61

24 Apr 2017 - 03 May 2017:  11 days, 1228.52 - 1478.69 ... (ongoing...)

[KeyJockey]

As much as I would love to see Monero on coinbase, I don’t think that an anonymous coin would work very well on it...

Aaaaaaaaa!  I hate to keep harping on this, but dammit... yet again: it's not "anonymous" that's important: it's FUNGIBLE.

Fungible Fungible Fungible.  

Monero people gotta get this thru our collective heads.  Stop with the "anonymous" red herring trap, please.  Aaaaa.

Besides, being "anonymous" (aaaa!) on coinbase isn't any problem really because of course YOU AIN'T ANONYMOUS ON COINBASE.

Coinbase knows everything about you already, and they'll know (and can report) every XMR you buy on their site with your dollars, no problem, just exactly the same as they know and report every bitcoin you buy and every ether you buy and (now) every litecoin you buy.  No difference, no problem really.

The ONLY thing that's "different" with Monero is they won't be able to track your XMR more than one hop out, once you withdraw it from their exchange and control.  

But why is that a problem really?  Just because they can do that with bitcoin, does it mean they will have to do it with every other coin, even if they can't do it due to technological reasons?

Do banks have to track the dollars you withdraw from your account out to three, four, five transactions away?  OR do they just have to monitor the cash withdrawals from your account to "one hop" out...?  That's exactly what Monero will allow, exactly the same limitations as banks have for cash.  Monero is digital cash.

TL;DR -- there is really no good reason why coinbase or any other exchange cannot support XMR and this "anonymous" red herring argument has GOT to STOP.

[Nathan047]

Aaaaaaaaa!  I hate to keep harping on this, but dammit... yet again: it's not "anonymous" that's important: it's FUNGIBLE.
Fungible Fungible Fungible.  
Monero people gotta get this thru our collective heads.  Stop with the "anonymous" red herring trap, please.  Aaaaa.

Well, I see where “anonymous” could be a bit misleading, but I’m not sure “Fungible” would be the correct term. Perhaps “Private” would be more descriptive?

The ONLY thing that's "different" with Monero is they won't be able to track your XMR more than one hop out, once you withdraw it from their exchange and control.  

I was referring to buying it and then using their web wallet. If you don’t use their web wallet I think it would be more helpful to just buy it somewhere else where you’re not tracked as much and you don’t need to verify your identity. Monero lacks light wallets and the only web wallet they’ve got is my mymonero.com, which seems to have it’s share of issues and glitches. It's hard for people who can't run a full node.

Coinbase knows everything about you already, and they'll know (and can report) every XMR you buy on their site with your dollars, no problem, just exactly the same as they know and report every bitcoin you buy and every ether you buy and (now) every litecoin you buy.  No difference, no problem really.

Yea, but I think a lot of people would want to be "Private/Anonymous/Fungible/Whatever" with their XMR more than they'll want with their BTC.

[hoertest]

i think he just wanted to point out that coinbase should have no legal reasons for not adding monero.

And beeing Fungible is so much more important than you think, Privacy is just a byproduct of fungible currency. Its much more than just the  comfort of having privacy from a users point of view. currency can't function without fungibility. And only monero has it without sacrificing decentralisation or any of btc accomplishments.

i think people will only start to understand this once btc is fully transparent , tx history documented and illustrated to the point you know you are getting an isis btc or one thats been owned by snoop dogg. thats when btc breaks. no scaling issues needed.

[CTTE]

Aaaaaaaaa!  I hate to keep harping on this, but dammit... yet again: it's not "anonymous" that's important: it's FUNGIBLE.
Fungible Fungible Fungible.  
Monero people gotta get this thru our collective heads.  Stop with the "anonymous" red herring trap, please.  Aaaaa.

Well, I see where “anonymous” could be a bit misleading, but I’m not sure “Fungible” would be the correct term. Perhaps “Private” would be more descriptive?

The ONLY thing that's "different" with Monero is they won't be able to track your XMR more than one hop out, once you withdraw it from their exchange and control.  

I was referring to buying it and then using their web wallet. If you don’t use their web wallet I think it would be more helpful to just buy it somewhere else where you’re not tracked as much and you don’t need to verify your identity. Monero lacks light wallets and the only web wallet they’ve got is my mymonero.com, which seems to have it’s share of issues and glitches. It's hard for people who can't run a full node.

Coinbase knows everything about you already, and they'll know (and can report) every XMR you buy on their site with your dollars, no problem, just exactly the same as they know and report every bitcoin you buy and every ether you buy and (now) every litecoin you buy.  No difference, no problem really.

Yea, but I think a lot of people would want to be "Private/Anonymous/Fungible/Whatever" with their XMR more than they'll want with their BTC.

What Coinbase will mean for Monero is another easy on-ramp with a trusted provider of services which will allow me and other people to easily buy Monero with fiat on a regular basis.  I personally don't want to set up another link to my bank account with yet another exchange, so I'm hoping Coinbase does this soon.

As far as "Privacy"...  buying almost any amount of Monero with fiat is not an easy thing to do unless you're willing to be known by the selling entity but once you send that Monero to another wallet, you have regained your privacy and can move that freely without fear of being tracked and you, at that point, have a private, fungible asset.  Coming back the other way exposes you to government or banking institution's monitoring which could be mitigated by having more opportunities to use Monero directly for general purchases without using xmr.to or converting it to BTC first... that's a pain to deal with and seems like a bit of a "cheesy hack", IMHO.

[Billy Bunter]

I think the most important aspect of Coinbase (if they were to accept Monero) would be the signal it gives to the market: that Monero is one of the most important currencies around. Coinbase would give a legitimacy to Monero that other currencies would be hard-pressed to find elsewhere.