[XMR] Monero Speculation

[rdnkjdi]

wow.  well that dump hurt.

Wonder when the downtrend is going to stop?  200?  180?  150?

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[rpietila]

wow.  well that dump hurt.

Wonder when the downtrend is going to stop?  200?  180?  150?

I have my promise in place from the very ancient times: if XMR goes to 200, I will put a BTC100 bid wall in 150, and it will stay there as long as XMR is convincingly above 200 again (or get dumped into).

[rdnkjdi]

wow.  well that dump hurt.

Wonder when the downtrend is going to stop?  200?  180?  150?

I have my promise in place from the very ancient times: if XMR goes to 200, I will put a BTC100 bid wall in 150, and it will stay there as long as XMR is convincingly above 200 again (or get dumped into).

Haha - well that would be fun to watch.

The weird thing is all the other coins dumping.  Monero hasn't lost any spots - Darkcoin just didn't dump.

[Palmdetroit]

Just an idea here to add some value to XMR.

My understanding is the only AMD GPU miner is a closed source miner which takes a 5% fee of XMR, and likely sells it all.  Maybe devs can make public a open cl miner with no fee.

2cents

[Oscilson]

Just an idea here to add some value to XMR.

My understanding is the only AMD GPU miner is a closed source miner which takes a 5% fee of XMR, and likely sells it all.  Maybe devs can make public a open cl miner with no fee.

2cents

The fee is 2.5% now. But I agree with your opinion.

[nakaone]

maybe the market is anticipating that mintpal finally delivers the "stolen" xmr

[dEBRUYNE]

wow.  well that dump hurt.

Wonder when the downtrend is going to stop?  200?  180?  150?

I have my promise in place from the very ancient times: if XMR goes to 200, I will put a BTC100 bid wall in 150, and it will stay there as long as XMR is convincingly above 200 again (or get dumped into).

It already went below 200

EDIT: Why not set it at 0.00175, that will support the previous low.

[joebob999]

whales give and whales take away.

somebody must have read the sidechains article.  or maybe moolah dude finally figured out how to operate an xmr wallet.

in my opinion there is a year of bleeding on this coin.  or at least six months.  just let it happen lord and savior jesuschristrptellia.

many tears - maybe if it gets dumped hard enough it will attract enough people to become an alt someday instead of just a holiersmarterthanthou circlejerk among early bitcoiners giving blowjobs to each other.

[rdnkjdi]

That was a pretty impressive dump.

Anybody have a link to sidechain comment?

[dEBRUYNE]

That was a pretty impressive dump.

Anybody have a link to sidechain comment?

I quoted smooth statement, I dunno if that's what you meant.

https://bitcointalk.org/index.php?topic=583449.msg9301438#msg9301438

[aminorex]

[dreck]

another newbie troll for the ignore list.  spewing malicious nonsense may serve your purposes, but reading it does not serve mine.

[equipoise]

That was a pretty impressive dump.

Anybody have a link to sidechain comment?

Bitcoin sidechains are definitely not a threat to Monero. Explained here by Smooth:

In the wake of http://www.blockstream.com/ essentially making sidechains an inevitability - what is the point of holding XMR now? Wont all of the privacy Monero offers be available within the bitcoin blockchain?

I think the answer is no. First of all it is questionable whether you would really want to hold wealth long term on a sidechain. The security assumptions (even when it comes to things like network hash rate, but in other more fundamental respects as well) are questionable. It is more plausible you might want to use services or features on a side chain by moving your bitcoins there and then, relatively quickly, moving them back to the more secure main chain. For example, this might be be used for mixing, by moving your coins to a sidechain with ring signatures, transacting and then moving them back.

But this ends up being a lot like using a Bitcoin mixer, with many of the same issues such as simultaneity. For example, imagine you are making a donation to some controversial organization and you want to delink the bitcoins you are donating.

So you go ahead and move your coins to a ring-sig sidechain, move them around a few times, and then move them back. Unless other people are doing this at the same time, when you move your coins back to the main chain, you will get the same coins back that you started with.

Alternately, perhaps the organization wants to be all anonymous and stuff, so it publishes an address on the sidechain, and you donate to them there. They then withdraw the coins back to the main chain, and they get the exact Bitcoins you sent to the side chain.

Obviously if there are a few other people doing the transfers at the same time, there is a degree of mixing, but it is fairly limited.

I don't think a side chain with a specialized purpose can achieve the same degree of anonymity as a coin designed for that purpose, where the entire chain is being mixed and remixed continually. That is an emperical question though. It is possible that a Bitcoin side chain could get more usage and greater trust of its security for long term holdings than Monero will have. More usage would address the mixing issue to a some extent and trust in the security would address the need to constantly move coins back and forth (though there still may be a loss of network effect here). None of this is clear at all.

I also think it is possible the market may simply reject the notion of adopting the Bitcoin currency for everything. It will be an interesting experiment to decouple new features from using a different currency. We may well find that the reason for altcoins is not the features!

[joebob999]

sidechains aren't a threat to what monero wants to be / envisions itself as which is another bitcoin.

so yea ... guess i can see where ur coming from.  still say sidechains are a legit threat to all altcoins.  except that bitcoin moves so slow and is so political that it will never happen.  until another altcoin probably completely overtakes bitcoin and it's too late.

[smooth]

Bitcoin sidechains are definitely not a threat to Monero. Explained here by Smooth:

I didn't say "no threat"

That is an emperical question though. It is possible that a Bitcoin side chain could get more usage and greater trust of its security for long term holdings than Monero will have. More usage would address the mixing issue to a some extent and trust in the security would address the need to constantly move coins back and forth (though there still may be a loss of network effect here). None of this is clear at all.

I do think it is relatively small factor in whether Monero succeeds. There was already plenty of competition and potential competition. This adds one more, which makes this an incremental consideration at this point.

I certainly don't see how side chains are a greater threat to Monero than to other coins that have very different price action today.

[rpietila]

wow.  well that dump hurt.

Wonder when the downtrend is going to stop?  200?  180?  150?

I have my promise in place from the very ancient times: if XMR goes to 200, I will put a BTC100 bid wall in 150, and it will stay there as long as XMR is convincingly above 200 again (or get dumped into).

It already went below 200

EDIT: Why not set it at 0.00175, that will support the previous low.

I was offline, plus needed to access coldwallet. It will be there shortly.

I am sure there will be plenty of takers in front of the wall, but it is the last defence if one of the whales wants to cash out at a loss.

Supporting "technical levels" could not interest me any less at this point. Anyone selling now is selling at a terrible loss, especially measured in fiat. Anyone buying now, is buying a gamble, at a time when the overall confidence in crypto is at an annual low point.

[joebob999]

why does it make sense to "defend" if the goal is new users?

some people are more likely to buy at 135 (value driven) and some people are more likely to buy at 600 (hype driven).  you want to attract both types ... why artificially set ANY price if ur goal is adoption?

don't you think your money would be better spent "defending" after a massive surge pushing it down to new lows?  there are TONS of coins hitting the market every day (one days worth = a MASSIVE selloff)

it's easier to soak up and "defend" if it goes lower.  plus more adoption.

another newbie troll for the ignore list.  spewing malicious nonsense may serve your purposes, but reading it does not serve mine.

overinflated pothead; much butthurt i sense in you

[rpietila]

why does it make sense to "defend" if the goal is new users?

If the existing owners do not believe the coin is worth anything, it IS not worth anything, and it makes no reason for anyone to buy. Markets speak what the value is. Both existing and coming owners collectively form the market.

some people are more likely to buy at 135 (value driven) and some people are more likely to buy at 600 (hype driven).  you want to attract both types ... why artificially set ANY price if ur goal is adoption?

I had to postpone proposing Monero to my investment newsletter (people who are collectively worth 100s of million$). The reason is that it is too small at present, and liquidity is so weak that even a €10,000 investment (a minimum for the midrange of my clients) would move the price 30% (as is the case right now as we speak).

To make Monero a realistic alternative for serious investors, it needs to be bigger. We therefore have to sacrifice the wishes of those that want to buy at 135, it will never come. (Not that I believed those people would have the balls nor the $$ to invest anyway...)

600 is not at all hype, Monero is a binary bet for exactly zero, or at least 5% of BTC's marketcap (5000 ksat/XMR).

don't you think your money would be better spent "defending" after a massive surge pushing it down to new lows?  there are TONS of coins hitting the market every day (one days worth = a MASSIVE selloff)

What I think can be seen in my actions.

[McHaggis]

The bounce is looking very healthy and should hopefully show the market putting in a reasonable long term bottom given the increase in buyers.

That being said it's going to take months for the crypto kingdom game to start effecting the market as its only at the phase where the XMR whales are buying CKG at the moment with their hoards.

[rpietila]

That being said it's going to take months for the crypto kingdom game to start effecting the market as its only at the phase where the XMR whales are buying CKG at the moment with their hoards.

At present the average buyin per character in the game is 180 XMR, and about 75% have spent from their existing stash.

When Version 4: Economy (2015-1-18) launches, the modest target is to have 1,000 players. (It has been online for 2 months already by then). The sales of ingame gold by then amount to 500,000 gold (about 130,000 XMR). In addition the characters may acquire other items perhaps worth 20 XMR per character (about 20,000 XMR). It will not yet be a great influence with these numbers, but:

a million = 1,000 * 1,000.  

[pandacoin]

Weak hands sold at loss. Price came back to where it stands this week.