[XMR] Monero Speculation

[ciciteng]

Is there any chance we know when Monero will exactly change their algo?
Bit worried since we are now have Baikal ASIC miner on cryptonight. Never imagine to see later all those GPU price flooded the market as 2nd hand junks with low price.
What do you think will happen?
I'm now both buying and mining 

[Febo]

Mt Gox selling stopped by court ?

not a monero news, however it may stop the daily market fluctuations ?

https://usethebitcoin.com/how-will-bitcoin-react-to-mt-gox-sell-off-pause-until-september/

WTF, Dumping them hurts their value so why didn't he do it correctly?

1. He gathered as much $ as MtGox owe to their debtors. Why on earth he would sell more? The rest will be returned to MtGox owners in BTC and not in $. So there is zero reason for any additional selling after February when all the needed $ was already gathered.

2. What it is correctly? Make an auction like USA did with Silkroads coins?  What was the price they got?  $500 , $600?     That was a nice "correctly" way  


This guy sold 40k BTC he currently  manage. Lousy 40k and so much drama. I dont understand this really.  He sold them at high liquidity when was bull market. Well Was maybe a bit to late.   He did relatively well.   Yes would be way better if he would dump at 20k but please what is chance any of us would know and dump all back then.  



If Bitcoin cant eat 40k coins dump at times when half world was hyping about Bitcoin. Everyone was talking about it and try to open account on some exchange.  If that is the case, then it have zero future.  40k coins. What if Satoshi shows up and dump his? what will be then? Nuclear winter?

[cAPSLOCK]

If Bitcoin cant eat 40k coins dump at times when half world was hyping about Bitcoin. Everyone was talking about it and try to open account on some exchange.  If that is the case, then it have zero future.  40k coins. What if Satoshi shows up and dump his? what will be then? Nuclear winter?

"Look at that lazy fuck." -Randall

[casty3000]

The time of the crisis was the most solid standing coin monero. And i think it will keep going same. Because of its confidentiality, it will gain much more value in the long term. I think it will pass litecoin on market cap

[aminorex]

If Bitcoin cant eat 40k coins dump at times when half world was hyping about Bitcoin. Everyone was talking about it and try to open account on some exchange.  If that is the case, then it have zero future.  

Imagine if a similar proportion of the daily liquidity in usd was dumped into FX markets over a couple of months.  That would amount to roughly 700bn.  Nuclear winter? Perhaps literally so.  Roughly guessing, USD might trade 2.5 to the EUR.  But in fact it would never happen ceteris paribus - other central banks would double down on their printing, to keep up.  It would amount to a global devaluation.  Hmmm... perhaps cryptoland resembles that remark.

[jhontwis]

I am optimistic about Monero. I think a project would be of use. The price has also improved very well and can be experienced to increase further in the coming years. It could be a worthwhile investment project.

[Hueristic]

Mt Gox selling stopped by court ?

not a monero news, however it may stop the daily market fluctuations ?

https://usethebitcoin.com/how-will-bitcoin-react-to-mt-gox-sell-off-pause-until-september/

WTF, Dumping them hurts their value so why didn't he do it correctly?

1. He gathered as much $ as MtGox owe to their debtors. Why on earth he would sell more? The rest will be returned to MtGox owners in BTC and not in $. So there is zero reason for any additional selling after February when all the needed $ was already gathered.

2. What it is correctly? Make an auction like USA did with Silkroads coins?  What was the price they got?  $500 , $600?     That was a nice "correctly" way  


This guy sold 40k BTC he currently  manage. Lousy 40k and so much drama. I dont understand this really.  He sold them at high liquidity when was bull market. Well Was maybe a bit to late.   He did relatively well.   Yes would be way better if he would dump at 20k but please what is chance any of us would know and dump all back then.  



If Bitcoin cant eat 40k coins dump at times when half world was hyping about Bitcoin. Everyone was talking about it and try to open account on some exchange.  If that is the case, then it have zero future.  40k coins. What if Satoshi shows up and dump his? what will be then? Nuclear winter?

Thanks for this, I had no clue that he had enough BTC to pay back the initial theft amount in BTC.

It's the 1.39 Billion USD worth (IIRC that was the reported amount) that they said he was still needing to unload that is causing all the fear. Not any worry over a 40k sell on the market.

If Bitcoin cant eat 40k coins dump at times when half world was hyping about Bitcoin. Everyone was talking about it and try to open account on some exchange.  If that is the case, then it have zero future. 

Imagine if a similar proportion of the daily liquidity in usd was dumped into FX markets over a couple of months.  That would amount to roughly 700bn.  Nuclear winter? Perhaps literally so.  Roughly guessing, USD might trade 2.5 to the EUR.  But in fact it would never happen ceteris paribus - other central banks would double down on their printing, to keep up.  It would amount to a global devaluation.  Hmmm... perhaps cryptoland resembles that remark.

That's some perspective there, But afa I'm concerned the only worry I saw was what they were reporting he was still going to dump the rest.

I guess it's shit article. I really don't bother to follow BTC news so took it at face value.

BTC is nothing more than a gateway to XMR to me.

[Anon136]

Imagine if a similar proportion of the daily liquidity in usd was dumped into FX markets over a couple of months.  That would amount to roughly 700bn.  Nuclear winter? Perhaps literally so.

Just wait until all the people trading in traditional financial markets are kids who cut their teeth on crypto. What would have caused panic, mass hystaria, and accusations of russion infiltration today will instead cause yawns, shrugs and quiet resigned sips of coffee.

[XMR2020]

Imagine if a similar proportion of the daily liquidity in usd was dumped into FX markets over a couple of months.  That would amount to roughly 700bn.  Nuclear winter? Perhaps literally so.

Just wait until all the people trading in traditional financial markets are kids who cut their teeth on crypto. What would have caused panic, mass hystaria, and accusations of russion infiltration today will instead cause yawns, shrugs and quiet resigned sips of coffee.

By the time all the kid who cut their teeth on crypto grow up - crypto will have subsumed the traditional markets.

[Hueristic]

I just couldn't help myself.
My first troll eva!

https://bitcointalk.org/index.php?topic=2683530.msg32181469#msg32181469

[Hueristic]

Imagine if a similar proportion of the daily liquidity in usd was dumped into FX markets over a couple of months.  That would amount to roughly 700bn.  Nuclear winter? Perhaps literally so.

Just wait until all the people trading in traditional financial markets are kids who cut their teeth on crypto. What would have caused panic, mass hystaria, and accusations of russion infiltration today will instead cause yawns, shrugs and quiet resigned sips of coffee.

By the time all the kid who cut their teeth on crypto grow up - crypto will have subsumed the traditional markets.

Well it will be a hybrid. Traditional assets will migrate onto blockchain but there will still be securities, bonds, derivatives contracts and equities ect... Things that are more traditional that they aren't generally trading right now.

LOL

I couldn't come up with a dumber name than deeponion but it just couldn't be done - John Oliver

https://www.youtube.com/watch?v=g6iDZspbRMg&feature=youtu.be&t=677

Your link is broken.

Should work now, but if not.

https://www.youtube.com/watch?v=g6iDZspbRMg @11:17

[Anon136]

Imagine if a similar proportion of the daily liquidity in usd was dumped into FX markets over a couple of months.  That would amount to roughly 700bn.  Nuclear winter? Perhaps literally so.

Just wait until all the people trading in traditional financial markets are kids who cut their teeth on crypto. What would have caused panic, mass hystaria, and accusations of russion infiltration today will instead cause yawns, shrugs and quiet resigned sips of coffee.

By the time all the kid who cut their teeth on crypto grow up - crypto will have subsumed the traditional markets.

Well it will be a hybrid. Traditional assets will migrate onto blockchain but there will still be securities, bonds, derivatives contracts and equities ect... Things that are more traditional that they aren't generally trading right now.

LOL

I couldn't come up with a dumber name than deeponion but it just couldn't be done - John Oliver

https://youtu.be/g6iDZspbRMg?t=677

Your link is broken.

https://www.youtube.com/watch?v=g6iDZspbRMg @11:17

Oh sorry I think I mislead you. I think it's just my vpn putting me out of region for that channel. I watched it though. I definitely lold pretty hard at the jab at deep onion.

[Hueristic]

Your link is broken.

https://www.youtube.com/watch?v=g6iDZspbRMg @11:17

Oh sorry I think I mislead you. I think it's just my vpn putting me out of region for that channel. I watched it though. I definitely lold pretty hard at the jab at deep onion.

Fixed.

Link got changed, I'm not sure why. I think maybe google shenanigans when copying links.

Reading this right now.

http://vu.hn/bitcoin%20origins.html#abstract

[explorer]

Imagine if a similar proportion of the daily liquidity in usd was dumped into FX markets over a couple of months.  That would amount to roughly 700bn.  Nuclear winter? Perhaps literally so.

Just wait until all the people trading in traditional financial markets are kids who cut their teeth on crypto. What would have caused panic, mass hystaria, and accusations of russion infiltration today will instead cause yawns, shrugs and quiet resigned sips of coffee.

By the time all the kid who cut their teeth on crypto grow up - crypto will have subsumed the traditional markets.

Well it will be a hybrid. Traditional assets will migrate onto blockchain but there will still be securities, bonds, derivatives contracts and equities ect... Things that are more traditional that they aren't generally trading right now.

LOL

I couldn't come up with a dumber name than deeponion but it just couldn't be done - John Oliver

https://youtu.be/g6iDZspbRMg?t=677

Your link is broken.

https://www.youtube.com/watch?v=g6iDZspbRMg @11:17

Oh sorry I think I mislead you. I think it's just my vpn putting me out of region for that channel. I watched it though. I definitely lold pretty hard at the jab at deep onion.

Yep, same. had to Americanize to view it.

-what an annoying little man!

[Billy Bunter]

Interesting GitHub discussion, initiated by smooth, as to whether Monero should begin to embrace ASICS instead of opposing them. Raises some interesting questions.

https://github.com/monero-project/monero/issues/3387#issuecomment-372283631

[cAPSLOCK]

Interesting GitHub discussion, initiated by smooth, as to whether Monero should begin to embrace ASICS instead of opposing them. Raises some interesting questions.

https://github.com/monero-project/monero/issues/3387#issuecomment-372283631

I am glad to see what appears to be a little bit of balance.  I understand the ideal of one CPU one vote, but many folks who would argue against ASICs will also argue in defense of botnets.  The botnet defense usually goes like: "They are securing the network, and they are incentivized not to wreck it by their financial stake".

This exact same argument can be used for ASICs.

I believe the question at the heart of this idea is clear:  Is it desirable to stick to the original 1 CPU 1 vote vision?  And if so, is it FEASIBLE to continue to enforce that vision?  With ASICs already in the wild it is a very valid set of questions.

If the answer to either is NO, then arguably we should move towards not only allowing ASIC development, but making it as easy as possible.

Disclaimer - I have been fairly firmly in the "original vision" camp for a long time.  But over the years I have grown more amenable to considering other options.

[garytheasshole]

Interesting GitHub discussion, initiated by smooth, as to whether Monero should begin to embrace ASICS instead of opposing them. Raises some interesting questions.

https://github.com/monero-project/monero/issues/3387#issuecomment-372283631

I am glad to see what appears to be a little bit of balance.  I understand the ideal of one CPU one vote, but many folks who would argue against ASICs will also argue in defense of botnets.  The botnet defense usually goes like: "They are securing the network, and they are incentivized not to wreck it by their financial stake".

This exact same argument can be used for ASICs.

I believe the question at the heart of this idea is clear:  Is it desirable to stick to the original 1 CPU 1 vote vision?  And if so, is it FEASIBLE to continue to enforce that vision?  With ASICs already in the wild it is a very valid set of questions.

If the answer to either is NO, then arguably we should move towards not only allowing ASIC development, but making it as easy as possible.

Disclaimer - I have been fairly firmly in the "original vision" camp for a long time.  But over the years I have grown more amenable to considering other options.

If ASICs are readily available from several manufacturers/wholesalers/retailers at reasonable prices like CPUs and GPUs are I don't see why Monero shouldn't embrace them, but as of now that is not the case.

[rinus]

Interesting GitHub discussion, initiated by smooth, as to whether Monero should begin to embrace ASICS instead of opposing them. Raises some interesting questions.

https://github.com/monero-project/monero/issues/3387#issuecomment-372283631

I am glad to see what appears to be a little bit of balance.  I understand the ideal of one CPU one vote, but many folks who would argue against ASICs will also argue in defense of botnets.  The botnet defense usually goes like: "They are securing the network, and they are incentivized not to wreck it by their financial stake".

This exact same argument can be used for ASICs.

I believe the question at the heart of this idea is clear:  Is it desirable to stick to the original 1 CPU 1 vote vision?  And if so, is it FEASIBLE to continue to enforce that vision?  With ASICs already in the wild it is a very valid set of questions.

If the answer to either is NO, then arguably we should move towards not only allowing ASIC development, but making it as easy as possible.

Disclaimer - I have been fairly firmly in the "original vision" camp for a long time.  But over the years I have grown more amenable to considering other options.

If ASICs are readily available from several manufacturers/wholesalers/retailers at reasonable prices like CPUs and GPUs are I don't see why Monero shouldn't embrace them, but as of now that is not the case.

Noob question, what is the benefit for ASIC mining and how is it different to the cryptonote?

[cAPSLOCK]

Interesting GitHub discussion, initiated by smooth, as to whether Monero should begin to embrace ASICS instead of opposing them. Raises some interesting questions.

https://github.com/monero-project/monero/issues/3387#issuecomment-372283631

I am glad to see what appears to be a little bit of balance.  I understand the ideal of one CPU one vote, but many folks who would argue against ASICs will also argue in defense of botnets.  The botnet defense usually goes like: "They are securing the network, and they are incentivized not to wreck it by their financial stake".

This exact same argument can be used for ASICs.

I believe the question at the heart of this idea is clear:  Is it desirable to stick to the original 1 CPU 1 vote vision?  And if so, is it FEASIBLE to continue to enforce that vision?  With ASICs already in the wild it is a very valid set of questions.

If the answer to either is NO, then arguably we should move towards not only allowing ASIC development, but making it as easy as possible.

Disclaimer - I have been fairly firmly in the "original vision" camp for a long time.  But over the years I have grown more amenable to considering other options.

If ASICs are readily available from several manufacturers/wholesalers/retailers at reasonable prices like CPUs and GPUs are I don't see why Monero shouldn't embrace them, but as of now that is not the case.

Noob question, what is the benefit for ASIC mining and how is it different to the cryptonote?

ASIC stands for Application specific integrated circuit.  It is a absolutely targeted single use processor.  Unlike a CPU or GPU which are designed to do lots of kinds of computations well an ASIC is designed to do a SINGLE thing as well as possible.  They are expensive to produce.

Cryptonote mining is designed to be ASIC resistant.  But I suppose building an ASIC resistant algorithm is like building an unpick-able lock.

[Hueristic]

Interesting GitHub discussion, initiated by smooth, as to whether Monero should begin to embrace ASICS instead of opposing them. Raises some interesting questions.

https://github.com/monero-project/monero/issues/3387#issuecomment-372283631

I'll have to read that, thanks for posting. I rarely disagree with Smooth but I cannot conceive of an argument that could sway my opinion on opposing ASIC's.

I am glad to see what appears to be a little bit of balance.  I understand the ideal of one CPU one vote, but many folks who would argue against ASICs will also argue in defense of botnets.  The botnet defense usually goes like: "They are securing the network, and they are incentivized not to wreck it by their financial stake".

This exact same argument can be used for ASICs.

I believe the question at the heart of this idea is clear:  Is it desirable to stick to the original 1 CPU 1 vote vision?  And if so, is it FEASIBLE to continue to enforce that vision?  With ASICs already in the wild it is a very valid set of questions.

If the answer to either is NO, then arguably we should move towards not only allowing ASIC development, but making it as easy as possible.

Disclaimer - I have been fairly firmly in the "original vision" camp for a long time.  But over the years I have grown more amenable to considering other options.

That is true, we would lose alot of security the botnets provide. Also by providing a somewhat legitimate use XMR is in a way providing a service, if botnets could not mine it then they would be monetized in a more destructive manner I'm sure. I don't know if anyone else has noticed but you just don't seem to hear about the massive takedowns of yesteryear and I wouldn't doubt Monero is no small part because of that. I think we can all agree Botnets are going no where and this is the least damaging use they are put on.

I think the 1 cpu one vote is a trojan argument and it has been gone for a long time already. I'm betting alot of lines are going to be drawn by where the bags lay. Those that are invested in these ASIC's are surly going to try to keep them on Monero.

This is something I hadn't considered as if it will become inevitable (?) then this should be considered.

By ASIC-friendly, I mean something that not only can reasonably be implemented in an ASIC, but which minimizes barriers to creating ASICs, minimizes their costs, facilitates the development of a wide range of compatible hardware at attractive price points, and minimizes opportunities for clever proprietary advantages. By doing so we may maximize the likelihood of a competitive ASIC market developing and minimize the degree of (temporarily or sustained) monopolization. This could possibly be achieved by using a simple, well-known, and well understood algorithm such as SHA3.

But no matter what, we should fork away from these current ASIC's, rewarding them is not a good idea.