[XMR] Monero Speculation

[Febo]

So what are people implying here?

That's ASIC owners were also the coin pumpers and manipulators?

No, more like that if they can mine 10 times more then any other miner fro same electricity cost they will push out all other miners. They coin lose support. And ofcourse is super vulnerable to 51% attacks.

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[mambamanagement]

I think monero will have a better run this year than last year and i hope my investment on it will be worthy for my money. I believe in monero because of its usage and popularity and i speculate that it will reach 500$ this year.

if it only reaches 500 wouldn’t that mean it didn’t have as good a run?

[Febo]

I think monero will have a better run this year than last year and i hope my investment on it will be worthy for my money. I believe in monero because of its usage and popularity and i speculate that it will reach 500$ this year.

if it only reaches 500 wouldn’t that mean it didn’t have as good a run?

How much is Monero now?   What % increase would it have then to reach $500.  What do you think? Is that a good run or not?  Probably it depends of person. LOL   Ask your neighbours what do they think.

[phishead]

I think monero will have a better run this year than last year and i hope my investment on it will be worthy for my money. I believe in monero because of its usage and popularity and i speculate that it will reach 500$ this year.

if it only reaches 500 wouldn’t that mean it didn’t have as good a run?

How much is Monero now?   What % increase would it have then to reach $500.  What do you think? Is that a good run or not?  Probably it depends of person. LOL   Ask your neighbours what do they think.

Considering most normal people think in the context of stock markets and could relate to a "good run" being 10-15% for the year in their 401(k)'s; people would be absolutely dumbfounded why you would even ask if a +200% ROI in a year is a "good run".  Cryptocurrency markets hardly make sense to me still to this day.

[cAPSLOCK]

So what are people implying here?

That's ASIC owners were also the coin pumpers and manipulators?

Some points:

- Hashrate was DOMINATED by "unknown" players last year and up to the HF.
- This was often attributed to botnets.
- 2 manufacturers produced CN ASICS around the time of this increase
- The moment the hashing alg was changed >60% hashrate disappeared.
- Three versions of the old chain were created (XMC, XMO, XMsomethingelse)
- Much of the displaced hashrate seemed to go to these chains.

It has been suggested that tBitmain created the ASICS, burned them in for a while (what?  6 months? lol)  And thten put them on the market.

It has been suggested that Bitmain (or some other ASIC manufacturer) created one or more of the "classic" chains to continue to be mined by ASICS.

It seems Zooko met with Jihan Wu and determined by feels that Jihan had nothing to do with the extra hashrate or the forks.

[btcdimcash]

It is better let the price find a realistic point from where the community is able to absorb the coins.
Personally I am not quit supporting Monero but I am not a buyer at the moment neither since I do not see it realistic to be able to absorb the emitted the coins

[Febo]

I think monero will have a better run this year than last year and i hope my investment on it will be worthy for my money. I believe in monero because of its usage and popularity and i speculate that it will reach 500$ this year.

if it only reaches 500 wouldn’t that mean it didn’t have as good a run?

How much is Monero now?   What % increase would it have then to reach $500.  What do you think? Is that a good run or not?  Probably it depends of person. LOL   Ask your neighbours what do they think.

Considering most normal people think in the context of stock markets and could relate to a "good run" being 10-15% for the year in their 401(k)'s; people would be absolutely dumbfounded why you would even ask if a +200% ROI in a year is a "good run".  Cryptocurrency markets hardly make sense to me still to this day.

Yes I would understand that once Monero will be $500, there will be some people not happy with the price, since out of 100000 shitcoins there will always be one that will outperform. But now when price is 3 times lower.  How could you not be happy with 3 times increase of your wealth. Is just not a question at all.

[MinersRus]

Who are the genius who decided to fork the POW algo?

I applaud said genius (which was the community by the way) because when they forked the ASIC's to the curb the profitability went from a paltry $0.56 per kHs to the current $1.18 kH/s. Even with the depressed price it is still double the profitability.

https://bitinfocharts.com/comparison/monero-mining_profitability.html#3m

https://bitinfocharts.com/monero

[Hueristic]

I'm not a big fan of forking away from ASICs, but I think it's the only option while Bitmain has a monopoly.

If Jihan Wu hadn't proven himself to be a bad actor, things might be different.

That doesn't matter at all it has be be decentralized to stay trustless. Having a trusted overlord is not acceptable either.

Egalitarian and ASICs are not diametrically opposed forever.  Once ASICs become commoditized like GPUs there would be much less need to defend against the centralization ASICs can currently cause.

A big player like Samsung, or others would be useful here.

Of course theat could also mean changint eh hash to something more "standard".

Interesting thought, maybe someday but I think it will always be something like a extension (I.E. AES-NI) as opposed to a complete asic. If you add a asic to another circuit (like a phone) then it is no longer a Pure Asic. Where the line is drawn can be fuzzy like in a GPU, does having cuda (or the other thousands of instructions not specific to just displaying an image) make it no longer application specific?

[Hueristic]

Just a heads up Guys, it's time to buy.

[Febo]

Just a heads up Guys, it's time to buy.

In a week or two Monero will sort of have 3rd halving.  It will happen when average coinbase will get under 4.4 XMR.   That is one halving more then Bitcoin.   Next halving will be at the end of next year.   That will give us daily only 1582 freshly mined XMR. That does sound scarce.

[casty3000]

I think the price of Monero will increase steadily. Hidden payments are becoming more and more necessary day by day. Bribery, smuggling, war, secret aids, these will always exist in the world. So monero is the best tool

[NeuroticFish]

Just a heads up Guys, it's time to buy.

In a week or two Monero will sort of have 3rd halving.  It will happen when average coinbase will get under 4.4 XMR.   That is one halving more then Bitcoin.   Next halving will be at the end of next year.   That will give us daily only 1582 freshly mined XMR. That does sound scarce.

Yeah, just in history halving didn't necessarily affected the price. At least not in the first some days after halving. Instead, the price followed its own path, rising and falling now and then.
Do you believe that Monero will behave different?

[crishjovi]

Any way we can change the best case scenario from "stellar" to "supernova" or something else that doesn't share its name with another cryptocurrency?  I keep doubling over and laughing in the middle of reading comments!

[NeuroticFish]

Any way we can change the best case scenario from "stellar" to "supernova" or something else that doesn't share its name with another cryptocurrency?  I keep doubling over and laughing in the middle of reading comments!

First of all, I don't know how to qualify this post. I did some research and I've found that word used in the way you say only in 2016 and I think that you expect too much if you think that people will change their way of talking (especially such old posts) just because they make you laugh.

Second, the usual word for that is "moon". And no matter, really, since in a couple of years all the words we could use would already be taken by some - good or bad - coin. And what then, people will have to change all the posts and use no words, since they are coin names?

So.. yeah, great idea, keep it up!

[tokeweed]

^  I think I'm the only guy who uses the term 'super nova' in these boards.  It's not my term tbh, I kinda stole it from Timothy Sykes, the penny stock trader.  Lol.

But as far as when that happens for XMR, when everbody starts realizing that fungibility is a thing and off chain stuff like Tari is a 'better Ethereum', I say hold it and keep it all under wraps for now.  The time to attack is not now imo.  

[Hueristic]

Any way we can change the best case scenario from "stellar" to "supernova" or something else that doesn't share its name with another cryptocurrency?  I keep doubling over and laughing in the middle of reading comments!

First of all, I don't know how to qualify this post. I did some research and I've found that word used in the way you say only in 2016 and I think that you expect too much if you think that people will change their way of talking (especially such old posts) just because they make you laugh.

Second, the usual word for that is "moon". And no matter, really, since in a couple of years all the words we could use would already be taken by some - good or bad - coin. And what then, people will have to change all the posts and use no words, since they are coin names?

So.. yeah, great idea, keep it up!

It's a fucking Sig spammer.

Who are the genius who decided to fork the POW algo?

I applaud said genius (which was the community by the way) because when they forked the ASIC's to the curb the profitability went from a paltry $0.56 per kHs to the current $1.18 kH/s. Even with the depressed price it is still double the profitability.

https://bitinfocharts.com/comparison/monero-mining_profitability.html#3m

https://bitinfocharts.com/monero

Why do you think it's a good thing when mining profitability is high?

Don't you think network security is a more important metric?

I don't think you understand that centralizing network hash with ASICs is detrimental to network security.

[tokeweed]

^  And whenever profitability is high, obv the miners follow anyway.  So I guess enjoy it while it lasts (not to mention Bitmain figuring out how to build ASIC's for the new mining algo all over again).

Anyway, what other CryptoNote based cryptos upgraded to CryptoNight V7?

[generalizethis]

I don't think you understand that centralizing network hash with ASICs is detrimental to network security.

I don't think you understanding anything about cryptocurrencies.

Have you heard about Bitcoin? It's the most secure crypto network, courtesy of ASICs.

It's scary that a decision so important was taken following a Reddit mob, or a secret committee of devs, with such a poor understanding of the matter.

Mining centralization hasn't made Bitcoin the most secure network, it's made it an easy target for China if they decide they want to disrupt the network--looking at hashing power in a vacuum is a pointless exercise as there are numerous factors that go into how secure a network is.

Also, the person you are addressing has forgotten more about cryptocurrencies than you know, or likely will ever know.

[rinus]

Maybe a stupid question, but did we see crypto at its best already? It went mainstream and now that everybody  heard about it, its like people have less interest in it. So could we say that it peaked already and that it’s foolish to wait and hold until we see 500 again?