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Author Topic: [XMR] Monero Speculation  (Read 3168151 times)
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Febo
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February 05, 2019, 12:04:40 AM
 #40641

Anyone notice that the conversation around Bitcoin's sustainability after block rewards expire is now fully underway?

The year started with the Bank of International Settlement (of all places) penning the most coherent Bitcoin critique of recent memory:
https://www.bis.org/publ/work765.pdf
tldr: https://www.technologyreview.com/the-download/612810/bitcoin-has-severe-limitations-because-of-the-way-it-keeps-itself-safe-from/

Now the conversation has shifted to Twitter. Notable Maximalists are seeing their bubble burst in front of their eyes.
https://twitter.com/peterktodd/status/1092262898598985729
https://twitter.com/StopAndDecrypt/status/1092279442360188929

Bitcoin's death knell will begin to toll well before 2140.

Bitcoin and its copies will change emission. They will not just doe because of not secure network.  Good thing is that Monero have this already solved.

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February 05, 2019, 12:34:33 AM
 #40642

Any fellow credit card holders notice a major increase in getting new cards shipped out a little more often than normal this year? TBH most people probably wouldn't notice it because a lot of you only have a couple.

But anyways, many of my credit cards were replaced well before their expiration date througout 2018 and I'd like to share the speculation that there was likely mbillions of dollars committedfraudulently spent in credit card fraud and that's what fueled driving the price up to 20k and that's why they got pulled so fast out of gateways like coinbase and others.


I think they were pushing out cards with smart chips.

Smarter chips? Anyone I've been talking to, which isn't too much, already had updated cards with chips.

Just saying, I mean sure it could just be security being security .. but I'd suppose it's not much of a leap to connect the 'Equifax biggest breach in history' followed some time later with 'many peoples cards are getting replaced before the scheduled due date and was verbally notified over the phone by bank employee of massively compromised' and 'cryptocurrency stops taking credit cards after biggest runup in history' dots.
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February 05, 2019, 01:02:28 AM
 #40643

Anyone notice that the conversation around Bitcoin's sustainability after block rewards expire is now fully underway?

The year started with the Bank of International Settlement (of all places) penning the most coherent Bitcoin critique of recent memory:
https://www.bis.org/publ/work765.pdf
tldr: https://www.technologyreview.com/the-download/612810/bitcoin-has-severe-limitations-because-of-the-way-it-keeps-itself-safe-from/

Now the conversation has shifted to Twitter. Notable Maximalists are seeing their bubble burst in front of their eyes.
https://twitter.com/peterktodd/status/1092262898598985729
https://twitter.com/StopAndDecrypt/status/1092279442360188929

Bitcoin's death knell will begin to toll well before 2140.
https://youtu.be/SVC0VwQwrW0?t=1030

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February 05, 2019, 04:19:42 AM
 #40644

Bitcoin and its copies will change emission. They will not just doe because of not secure network.  Good thing is that Monero have this already solved.

I hope they are better at changing emmission than changing block size. Something makes me doubt it. 21 million is the fundamental promise of Bitcoin, above all else.
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February 05, 2019, 06:02:41 AM
 #40645

Bitcoin and its copies will change emission. They will not just doe because of not secure network.  Good thing is that Monero have this already solved.

I hope they are better at changing emmission than changing block size. Something makes me doubt it. 21 million is the fundamental promise of Bitcoin, above all else.

No, immutability is.

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February 05, 2019, 09:16:23 AM
 #40646

The new cards weren't very good actually.

They have had big problems with the life of a contactless card.

"The problem is that this is my second card, and the first one was replaced because the same thing happened - after a few months contactless payments simply stopped working."


I think they had to replace a lot long before they planned to.




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February 05, 2019, 04:33:31 PM
 #40647

I'm guess the plan with bitcoin is to keep block size unchanged and allow fees to go through the roof, to subsidize miners. Meanwhile, users will have cheap and fast transactions on lightning network. Win/Win?

I'm sure someone has done some projections on how viable that economic model is. It would be interesting to see.
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February 05, 2019, 05:35:13 PM
Merited by infofront (1)
 #40648

I'm guess the plan with bitcoin is to keep block size unchanged and allow fees to go through the roof, to subsidize miners. Meanwhile, users will have cheap and fast transactions on lightning network. Win/Win?

I'm sure someone has done some projections on how viable that economic model is. It would be interesting to see.

I have seen many arguments here on BCT as why this fee model does not work and none as why it will work. By the way lightning network is not a solution. Just read the Lightning Network paper https://lightning.network/lightning-network-paper.pdf where they talk about 100 MB + blocks to make LN work. In any case I hate to say I told you so, but I sold all my Bitcoin for Monero over this issue with the bulk of the sales completed well over 3 years ago.

Edit: The reason I found out about Monero in the first place is because I was researching this issue in Bitcoin here on BCT in 2014.

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
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February 05, 2019, 07:31:11 PM
 #40649

Lightning needs channel factories, which in turn need schnorr and sighash_noinput, to keep the blocksize down. It's all in hand.
Expect a push to reduce blocksize too, partially on economic grounds (more fee market), but mostly for tech reasons: bandwidth, especially of mesh network etc

I do not accept segwit outputs as payment, nor send them.
~14 easy tricks to save your bitcoin http://trilema.com/2013/how-to-airgap-a-practical-guide/ The auditable hardware RNG http://nosuchlabs.com/
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February 06, 2019, 02:50:13 AM
 #40650

Chainalysis: "@monero is our top priority" - https://threader.app/thread/1091010633657659395
Bullish?

Don't know anymore, its dangerous to be right when the world is wrong.

“Obviously, we listed Zcash, We didn’t attempt to list Monero and we felt that Zcash was the privacy coin that we could get our regulators comfortable with.”

get this right, they did not even dared to attempt list Monero, because it could displease the regulators, if you don't think we are living in 1984 meets Brave New World, I don't know what to say.

but the bittersweet part is, Monero will still pump hard in a bullmarket just because everything else pumps and Monero is in a good number of exchanges already. The last big uncorrelated pump was when Alphabay added Monero, and that alone made it the most profitable coin of the year, I don't think we'll see that happening again.

I also don't think they will try to go after Monero simply because its too late at this point, as it was with Bitcoin in 2011, at end of the day its just another open-source project. And they already have a ''privacy'' coin where they want, the corporation behind Zcash will bend to the will of the USG. Green said so.

Zcash will be the trojan horse that eventually gets Monero onto the big exchanges. A privacy-lite coin is a stepping stone toward getting the regulators comfortable with real privacy coins.

In a few years when Grin gets it's legs under it it will be the red headed stepchild (in place of monero) and not allowed on regulated exchanges and all the fat cats will have their bags of monero's and then it will be a private store of value they will have accumulated enough of to allow it on exchanges.

Grin and MW won't make it, the world had enough of Core supremacists and their ignominious economic policies, the future belongs to ZK technologies which Monero will fully migrate to when they are ready aka no trusted-setups.

ZKStarks?

I'm guess the plan with bitcoin is to keep block size unchanged and allow fees to go through the roof, to subsidize miners. Meanwhile, users will have cheap and fast transactions on lightning network. Win/Win?

I'm sure someone has done some projections on how viable that economic model is. It would be interesting to see.

CW has a spreadsheet I think. Tongue
Ducks

I'm guess the plan with bitcoin is to keep block size unchanged and allow fees to go through the roof, to subsidize miners. Meanwhile, users will have cheap and fast transactions on lightning network. Win/Win?

I'm sure someone has done some projections on how viable that economic model is. It would be interesting to see.

I have seen many arguments here on BCT as why this fee model does not work and none as why it will work. By the way lightning network is not a solution. Just read the Lightning Network paper https://lightning.network/lightning-network-paper.pdf where they talk about 100 MB + blocks to make LN work. In any case I hate to say I told you so, but I sold all my Bitcoin for Monero over this issue with the bulk of the sales completed well over 3 years ago.

Edit: The reason I found out about Monero in the first place is because I was researching this issue in Bitcoin here on BCT in 2014.

I was reading an old thread you were in where Satoshi had commented that the code for bigger blocks would be easy and he gave a simple If then statement to show how easy.

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February 06, 2019, 02:54:58 AM
Merited by infofront (1)
 #40651



I'm guess the plan with bitcoin is to keep block size unchanged and allow fees to go through the roof, to subsidize miners. Meanwhile, users will have cheap and fast transactions on lightning network. Win/Win?

I'm sure someone has done some projections on how viable that economic model is. It would be interesting to see.

CW has a spreadsheet I think. Tongue
Ducks

Gosh, it's true BSV is fairly centralized, but I wouldn't call it a "spreadsheet". ;/
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February 06, 2019, 02:57:35 AM
 #40652



I'm guess the plan with bitcoin is to keep block size unchanged and allow fees to go through the roof, to subsidize miners. Meanwhile, users will have cheap and fast transactions on lightning network. Win/Win?

I'm sure someone has done some projections on how viable that economic model is. It would be interesting to see.

CW has a spreadsheet I think. Tongue
Ducks

Gosh, it's true BSV is fairly centralized, but I wouldn't call it a "spreadsheet". ;/

ROTFL! Smiley

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February 06, 2019, 02:59:55 AM
 #40653

Craig Wright is a spreadsheet?
Works for me!
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February 06, 2019, 04:56:56 AM
 #40654



I'm guess the plan with bitcoin is to keep block size unchanged and allow fees to go through the roof, to subsidize miners. Meanwhile, users will have cheap and fast transactions on lightning network. Win/Win?

I'm sure someone has done some projections on how viable that economic model is. It would be interesting to see.

I have seen many arguments here on BCT as why this fee model does not work and none as why it will work. By the way lightning network is not a solution. Just read the Lightning Network paper https://lightning.network/lightning-network-paper.pdf where they talk about 100 MB + blocks to make LN work. In any case I hate to say I told you so, but I sold all my Bitcoin for Monero over this issue with the bulk of the sales completed well over 3 years ago.

Edit: The reason I found out about Monero in the first place is because I was researching this issue in Bitcoin here on BCT in 2014.

I was reading an old thread you were in where Satoshi had commented that the code for bigger blocks would be easy and he gave a simple If then statement to show how easy.

This is the thread. https://bitcointalk.org/index.php?topic=1347.0;all  It is of course the thread that started the blocksize debate in Bitcoin

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
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February 06, 2019, 10:13:35 AM
 #40655

spreadshiet


begin signature: hello world, wooooo. Globb0 :end signature        17D16779B10D2D02B7F4EC6423DCC7DED3366BA5222558629AD7C79E54037426
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February 06, 2019, 11:59:07 AM
 #40656

Majority of crypto traders, enthusiasts, HODLers don't really expected how the cryptoworld has collapsed in relation to Bitcoin's market cap and price movement. I myself didn't even expect that Bitcoin will reach an all time low at 3,000$ plus dragging almost all of the cryptos down too. Monero (XMR) is not exempted on that trip as it also fluctuate so bad. But I do believe there's a better time for cryptoworld to come so what's more important for me now is HODLing still with my digital assets in tact.

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February 06, 2019, 12:01:32 PM
 #40657

Been sideways so long I had to change scales, scrolling out on the hourlies you cant see anything but a narrow range.

For quite a while, I don't agree its "bombing like all altcoins!" as spouted in other forum regions.


begin signature: hello world, wooooo. Globb0 :end signature        17D16779B10D2D02B7F4EC6423DCC7DED3366BA5222558629AD7C79E54037426
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February 06, 2019, 01:29:08 PM
 #40658

^  Nope, its not.  It's actually the best time to start watching it very closely again imho.  Momentum usually starts slowly, without any 'news' or any crap that everybody usually waits for before going in.

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February 06, 2019, 06:03:03 PM
 #40659

Just want to point out we have seen ANOTHER one of those:

BTC dump
XMR action
BSV pump

trios again.

The XMR part is kind of subtle this time, as what I am seeing is a broad alt selloff while XMR is flat to positive.  Aside from Binance coin (and faketoshis spreadsheetcoin) XMR is the only coin holding up.

I't probably some sort of bias on my part, but I often feel like XMR bucks the trends of other alts.

BTW, what the heck is going on with BTC.  Some interesting stuff...  lots of splashing around.
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February 06, 2019, 06:37:03 PM
 #40660

Quote from: ArticMine
In any case I hate to say I told you so, but I sold all my Bitcoin for Monero over this issue with the bulk of the sales completed well over 3 years ago.


I still have some as a hedge, though I was seriously considering dumping them but couldn't pull the trigger back then. I remember when saddam did a similar thing too. So what are your thoughts, will bitcoin get taken over by another coin (monero, bcash?, etc), or the thinking is monero will out preform bitcoin from here on out?
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