[XMR] Monero Speculation

[rdnkjdi]

CN Explanations

Thank you for the ?'s & explanation.  Helps answer some (not all) of my questions surround CN in general.  

[drawingthemoon]

Disguised FUD from habitually incorrigible slanderer.

Objection. Reaching.

smooth, please don't allow it and feel free to delete my post too.

I found the revised post acceptable. Big money being averse to reputational risks and possible negative associations is a legitimate investment consideration as long as it doesn't consume the thread. Responses will be held to the same standard of relevance.

aminorex, please fix the formatting on your post

That is a rigged game you are playing especially when you had deleted that second block completely with a message specifically for aminorex. I guess now it has fallen to this level in order to rally around for markets.

My speculation is from now on, XMR blockchain will be used as a testnet for exploits in the foreseeable future. Incidents like today are far more likely to be the determining factor than throwing mud on anonymous developers.

The marketing of this coin has taken a wrong turn.

[Bitcopia]

Looks like some folks just got a lot of cheap Monero!

[rikkejohn]

Looks like some folks just got a lot of cheap Monero!

It was dropping yesterday before this incident, so they've not really got a lot of cheap Monero.

More like panic bought a lot of Monero.

[dEBRUYNE]

Looks like some folks just got a lot of cheap Monero!

It was dropping yesterday before this incident, so they've not really got a lot of cheap Monero.

More like panic bought a lot of Monero.

Was dumped to +- 0.00375 and went straight up again, I think he meant that

[Bitcopia]

Looks like some folks just got a lot of cheap Monero!

It was dropping yesterday before this incident, so they've not really got a lot of cheap Monero.

More like panic bought a lot of Monero.

Was dumped to +- 0.00375 and went straight up again, I think he meant that

Yep. Panic dumping out of fear is ALWAYS a bad idea. I watched it happen with BTC on the March 2013 hard fork, the SR crash, and all of the mini panics when Gox was freezing up all the time. This is reminiscent of those times.

[rikkejohn]

Looks like some folks just got a lot of cheap Monero!

It was dropping yesterday before this incident, so they've not really got a lot of cheap Monero.

More like panic bought a lot of Monero.

Was dumped to +- 0.00375 and went straight up again, I think he meant that

Yep. Panic dumping out of fear is ALWAYS a bad idea. I watched it happen with BTC on the March 2013 hard fork, the SR crash, and all of the mini panics when Gox was freezing up all the time. This is reminiscent of those times.

Yeah, those that panic sold BTC at $500-1300 must be kicking themselves.

[dEBRUYNE]

Looks like some folks just got a lot of cheap Monero!

It was dropping yesterday before this incident, so they've not really got a lot of cheap Monero.

More like panic bought a lot of Monero.

Was dumped to +- 0.00375 and went straight up again, I think he meant that

Yep. Panic dumping out of fear is ALWAYS a bad idea. I watched it happen with BTC on the March 2013 hard fork, the SR crash, and all of the mini panics when Gox was freezing up all the time. This is reminiscent of those times.

Yeah, those that panic sold BTC at $500-1300 must be kicking themselves.

There is a clear difference between this (where the issue was solved) and when the BTC Bubble popped (actually bad news).

Actually I think this attack did more good to monero than bad, some external consultants were hired to resolve the issue and look at the code. Probably more bad or sloppy code was found which can be fixed now.

[rikkejohn]

Looks like some folks just got a lot of cheap Monero!

It was dropping yesterday before this incident, so they've not really got a lot of cheap Monero.

More like panic bought a lot of Monero.

Was dumped to +- 0.00375 and went straight up again, I think he meant that

Yep. Panic dumping out of fear is ALWAYS a bad idea. I watched it happen with BTC on the March 2013 hard fork, the SR crash, and all of the mini panics when Gox was freezing up all the time. This is reminiscent of those times.

Yeah, those that panic sold BTC at $500-1300 must be kicking themselves.

There is a clear difference between this (where the issue was solved) and when the BTC Bubble popped (actually bad news).

Actually I think this attack did more good to monero than bad, some external consultants were hired to resolve the issue and look at the code. Probably more bad or sloppy code was found which can be fixed now.

A difference which you have not explained.

[aminorex]

lets be consistent in our criticisms and praises.

I like what you're saying, but...Things which are different are not the same.

SuperNET is definitely OT here, so I will restrain my comments on that for yet another day and yet another thread.  

[aminorex]

some external consultants were hired to resolve the issue and look at the code. Probably more bad or sloppy code was found which can be fixed now.

This could create an erroneous impression.  I'd ask a core member to give color on it.

[Bitcopia]

Looks like some folks just got a lot of cheap Monero!

It was dropping yesterday before this incident, so they've not really got a lot of cheap Monero.

More like panic bought a lot of Monero.

Was dumped to +- 0.00375 and went straight up again, I think he meant that

Yep. Panic dumping out of fear is ALWAYS a bad idea. I watched it happen with BTC on the March 2013 hard fork, the SR crash, and all of the mini panics when Gox was freezing up all the time. This is reminiscent of those times.

Yeah, those that panic sold BTC at $500-1300 must be kicking themselves.

March 2013 hard fork caused most people to panic sell in the $30s. Yes they are kicking themselves.
SR crash caused most people to panic sell in the $80 - 120 range. Yes they are kicking themselves.
All of the times GOX froze were before they upgraded their trading engine which was before the October rally began. Those little panic sales were also a bad idea.

I just mean when a minor issue occurs, newbs think that price is going to drop like a rock and not recover for a while. They think they'll have a chance to pick up coins later for cheaper. It almost never happens that way, because those that understand that the fundamentals have not been irrecoverably damaged buy all of their discounted coins. This just happened with XMR, although the panic was not as bad as I had expected.

[smooth]

Actually I think this attack did more good to monero than bad, some external consultants were hired to resolve the issue and look at the code. Probably more bad or sloppy code was found which can be fixed now.

No external consultants were hired to deal with the attack. We did everything ourselves with a little helpful input from Crypto Zoidberg (though in reality he was asleep most of the time, but if he were not I'm sure he would have helped more).

The discussion of consultants was part of an ongoing process that started some time ago (as discussed in Missives) and will continue. It had nothing specifically to do with the attack.

[saddambitcoin]

Looks like some folks just got a lot of cheap Monero!

It was dropping yesterday before this incident, so they've not really got a lot of cheap Monero.

More like panic bought a lot of Monero.

Was dumped to +- 0.00375 and went straight up again, I think he meant that

Yep. Panic dumping out of fear is ALWAYS a bad idea. I watched it happen with BTC on the March 2013 hard fork, the SR crash, and all of the mini panics when Gox was freezing up all the time. This is reminiscent of those times.

Yeah, those that panic sold BTC at $500-1300 must be kicking themselves.

There is a clear difference between this (where the issue was solved) and when the BTC Bubble popped (actually bad news).

Actually I think this attack did more good to monero than bad, some external consultants were hired to resolve the issue and look at the code. Probably more bad or sloppy code was found which can be fixed now.

A difference which you have not explained.

Rikke, why do you have so much hate for XMR?

[rikkejohn]

Looks like some folks just got a lot of cheap Monero!

It was dropping yesterday before this incident, so they've not really got a lot of cheap Monero.

More like panic bought a lot of Monero.

Was dumped to +- 0.00375 and went straight up again, I think he meant that

Yep. Panic dumping out of fear is ALWAYS a bad idea. I watched it happen with BTC on the March 2013 hard fork, the SR crash, and all of the mini panics when Gox was freezing up all the time. This is reminiscent of those times.

Yeah, those that panic sold BTC at $500-1300 must be kicking themselves.

March 2013 hard fork caused most people to panic sell in the $30s. Yes they are kicking themselves.
SR crash caused most people to panic sell in the $80 - 120 range. Yes they are kicking themselves.
All of the times GOX froze were before they upgraded their trading engine which was before the October rally began. Those little panic sales were also a bad idea.

I just mean when a minor issue occurs, newbs think that price is going to drop like a rock and not recover for a while. They think they'll have a chance to pick up coins later for cheaper. It almost never happens that way, because those that understand that the fundamentals have not been irrecoverably damaged buy all of their discounted coins. This just happened with XMR, although the panic was not as bad as I had expected.

You're picking out moments in time, and you have no clear evidence that XMR is not priced high already. It is still just another alt, not even traded on Cryptsy. The panic sellers are probably right. Sometimes panic is good. There is no reason for panic sellers to take a risk and hold given XMR is young, not widely adopted, has broken code, and is one among 1000 altcoins.

[rikkejohn]

Looks like some folks just got a lot of cheap Monero!

It was dropping yesterday before this incident, so they've not really got a lot of cheap Monero.

More like panic bought a lot of Monero.

Was dumped to +- 0.00375 and went straight up again, I think he meant that

Yep. Panic dumping out of fear is ALWAYS a bad idea. I watched it happen with BTC on the March 2013 hard fork, the SR crash, and all of the mini panics when Gox was freezing up all the time. This is reminiscent of those times.

Yeah, those that panic sold BTC at $500-1300 must be kicking themselves.

There is a clear difference between this (where the issue was solved) and when the BTC Bubble popped (actually bad news).

Actually I think this attack did more good to monero than bad, some external consultants were hired to resolve the issue and look at the code. Probably more bad or sloppy code was found which can be fixed now.

A difference which you have not explained.

Rikke, why do you have so much hate for XMR?

Fair question, so I'll answer it honestly.

I think it's a scamcoin being pushed by a handful of people. I think there is a strategy and goal, and so far it is going well.

[dEBRUYNE]

Actually I think this attack did more good to monero than bad, some external consultants were hired to resolve the issue and look at the code. Probably more bad or sloppy code was found which can be fixed now.

No external consultants were hired to deal with the attack. We did everything ourselves with a little helpful input from Crypto Zoidberg (though in reality he was asleep most of the time, but if he were not I'm sure he would have helped more).

The discussion of consultants was part of an ongoing process that started some time ago (as discussed in Missives) and will continue. It had nothing specifically to do with the attack.

Didn't knew it was part of an ongoing process, thanks for elaborating.

some external consultants were hired to resolve the issue and look at the code. Probably more bad or sloppy code was found which can be fixed now.

This could create an erroneous impression.  I'd ask a core member to give color on it.

Do you still think this after smooth's explanation? If so, could you elaborate for me please?

Looks like some folks just got a lot of cheap Monero!

It was dropping yesterday before this incident, so they've not really got a lot of cheap Monero.

More like panic bought a lot of Monero.

Was dumped to +- 0.00375 and went straight up again, I think he meant that

Yep. Panic dumping out of fear is ALWAYS a bad idea. I watched it happen with BTC on the March 2013 hard fork, the SR crash, and all of the mini panics when Gox was freezing up all the time. This is reminiscent of those times.

Yeah, those that panic sold BTC at $500-1300 must be kicking themselves.

There is a clear difference between this (where the issue was solved) and when the BTC Bubble popped (actually bad news).

Actually I think this attack did more good to monero than bad, some external consultants were hired to resolve the issue and look at the code. Probably more bad or sloppy code was found which can be fixed now.

A difference which you have not explained.

I meant that the news from China was a clear sell signal, because it wouldn't be solved within a day. The attack of today was different in my opinion. The devs showed that they couldn't handle this and came up with a solution. I think this only boosts the confidence in monero and the devs, while the China news didn't boost the confidence in bitcoin.

[dEBRUYNE]

Looks like some folks just got a lot of cheap Monero!

It was dropping yesterday before this incident, so they've not really got a lot of cheap Monero.

More like panic bought a lot of Monero.

Was dumped to +- 0.00375 and went straight up again, I think he meant that

Yep. Panic dumping out of fear is ALWAYS a bad idea. I watched it happen with BTC on the March 2013 hard fork, the SR crash, and all of the mini panics when Gox was freezing up all the time. This is reminiscent of those times.

Yeah, those that panic sold BTC at $500-1300 must be kicking themselves.

March 2013 hard fork caused most people to panic sell in the $30s. Yes they are kicking themselves.
SR crash caused most people to panic sell in the $80 - 120 range. Yes they are kicking themselves.
All of the times GOX froze were before they upgraded their trading engine which was before the October rally began. Those little panic sales were also a bad idea.

I just mean when a minor issue occurs, newbs think that price is going to drop like a rock and not recover for a while. They think they'll have a chance to pick up coins later for cheaper. It almost never happens that way, because those that understand that the fundamentals have not been irrecoverably damaged buy all of their discounted coins. This just happened with XMR, although the panic was not as bad as I had expected.

You're picking out moments in time, and you have no clear evidence that XMR is not priced high already. It is still just another alt, not even traded on Cryptsy. The panic sellers are probably right. Sometimes panic is good. There is no reason for panic sellers to take a risk and hold given XMR is young, not widely adopted, has broken code, and is one among 1000 altcoins.

Cryptsy in the process of adding it was said in one of the missives or in the general monero thread (If I recall correctly, somewhere end of July). One that differs that from the others, based on my view. It's not just a simple clone, pre-mine, IPO or POS coin..

[smooth]

not even traded on Cryptsy.

Cryptsy is the outlier. Being on Mintpal, Bittres, bter, Polo and probably few others I'm forgetting means the coin is widely listed.

I don't know what Cryptsy's problem is. Too lazy or incompetent to support the different API or like many people in this cryptocoin space looking for a payoff they're not going to get. But really I have no idea and I don't care. We're on plenty of exchanges.

[rpietila]

the panic was not as bad as I had expected.

I got lucky: "ristopietila: my dream scenario would be a dump to 370, low enough to enable some acquisition and carve a low, but high enough to end the dreaming of monero ever going as low again"