[XMR] Monero Speculation

[smooth]

Thank you devs for what you do.  I'll be donating more soon.

Yeah, I have roughly doubled my XMR stake since I joined the MEW.  I need to double my initial throwdown.  Thanks for the reminder, UnicornFarts.

(Now there is a sentence I never expected to type.)

Remember that MEW membership includes 50% donation to the project (and the other 50% will be used by MEW to promote Monero). Both direct donations and MEW membership help the project.

[rpietila]

 Thank you devs for what you do.  I'll be donating more soon.

Yeah, I have roughly doubled my XMR stake since I joined the MEW.  I need to double my initial throwdown.  Thanks for the reminder, UnicornFarts.

(Now there is a sentence I never expected to type.)

Remember that MEW membership includes 50% donation to the project (and the other 50% will be used by MEW to promote Monero). Both direct donations and MEW membership helps the project.

I have to chime in to say that MEW membership also grants you +25% gold if you buy from the King's auction in Crypto Kingdom. So you get all these 3 good things, and 125% for the price of 100%!

[papa_lazzarou]

Solid post, agreed on all points I have an opinion on (That is, everything except the Truckcoin/Hyperstake remark. Don't know anything about those.)

EDIT: Unless 'consolation' is supposed to mean 'gloating'... but I don't think it was intended like that.

No.  Not gloating.  Why would I gloat?  I think many people don't take into account that it's probably harder to make the same % as a whale than a little guy.  There is some consolation / security in that this can't be a dump profiting whales because there's been such a high price from (almost) the beginning.  So they're stuck right here with us little guys

Oh. That's what you meant... 

[2dogs]

This is turning out to be one wild roller coaster ride.
Gonna need a couple of barf bags before this is over.

[UnicornFarts]

Bigger risk, better reward  Grin

not always the case.  buying magic beans is really high risk.

ive never heard of magic beans actually paying off.  

so not always the potential for higher reward just cuz something is higher risk.   

[smooth]

Bigger risk, better reward  Grin

not always the case.  buying magic beans is really high risk.

ive never heard of magic beans actually paying off.  

so not always the potential for higher reward just cuz something is higher risk.   

If there is no potential for gain (or even recovery of your investment) then there is no risk, just guaranteed loss.

Risk means you don't know what is going to happen.

[UnicornFarts]

Bigger risk, better reward  Grin

not always the case.  buying magic beans is really high risk.

ive never heard of magic beans actually paying off. 

so not always the potential for higher reward just cuz something is higher risk.   

If there is no potential for gain (or even recovery of your investment) then there is no risk, just guaranteed loss.

Risk means you don't know what is going to happen.

ok smartass o.O

my point was that higher risk does not always equal higher reward.  if somebody said "buy these magic beans and go rob the giant the beans cost $100" then my risk is $100.

if some other dude said "buy my magic beans they are the real ones they cost $10,000.  but you get what you pay for.  no risk, no reward"

Then my risk is higher ($10,000 vs $100) but my payoff is the same (gold the giant owns) and my chances of getting magic beans are the same (pretty freakin' slim).

[smooth]

Bigger risk, better reward  Grin

not always the case.  buying magic beans is really high risk.

ive never heard of magic beans actually paying off. 

so not always the potential for higher reward just cuz something is higher risk.   

If there is no potential for gain (or even recovery of your investment) then there is no risk, just guaranteed loss.

Risk means you don't know what is going to happen.

ok smartass o.O

my point was that higher risk does not always equal higher reward.  if somebody said "buy these magic beans and go rob the giant the beans cost $100" then my risk is $100.

if some other dude said "buy my magic beans they are the real ones they cost $10,000.  but you get what you pay for.  no risk, no reward"

Then my risk is higher ($10,000 vs $100) but my payoff is the same (gold the giant owns) and my chances of getting magic beans are the same (pretty freakin' slim).

True, there are bad investments or ways to simply waste your money. Flip a coin and if it comes up heads up flush your money down the toilet. Tails, keep the money. Risky, but stupid.

In a competitive market these sorts of money-down-the-toilet situations don't usually exist and the principle usually holds though. Not always.

[rangedriver]

Bigger risk, better reward  Grin

not always the case.  buying magic beans is really high risk.

ive never heard of magic beans actually paying off.  

so not always the potential for higher reward just cuz something is higher risk.  

If there is no potential for gain (or even recovery of your investment) then there is no risk, just guaranteed loss.

Risk means you don't know what is going to happen.

ok smartass o.O

my point was that higher risk does not always equal higher reward.  if somebody said "buy these magic beans and go rob the giant the beans cost $100" then my risk is $100.

if some other dude said "buy my magic beans they are the real ones they cost $10,000.  but you get what you pay for.  no risk, no reward"

Then my risk is higher ($10,000 vs $100) but my payoff is the same (gold the giant owns) and my chances of getting magic beans are the same (pretty freakin' slim).

That's gotta be the worst analogy in the history of analogies.  

Risk and reward simply pertains to the amount of winnings or losses based on a binary model: Here is the amount you lose if you lose, and here is the amount you win if you win. It doesn't however saying anything of the probability of you winning or losing, which alters the perception / dimension of risk and reward completely.

An impossible task might have a healthy $1000 reward for winning, and a meaningless $2 fee for losing, but it would still be a horrible investment / gamble.

[UnicornFarts]

In a competitive unregulated hype market these sorts of money-down-the-toilet situations don't usually exist and the principle usually holds though. Not always.

go look at the [ANN] section and see if you still feel that way 

[smooth]

In a competitive unregulated hype market these sorts of money-down-the-toilet situations don't usually exist and the principle usually holds though. Not always.

go look at the [ANN] section and see if you still feel that way 

I see a very competitive market.

High risk may well mean that you usually lose your money.

You could easily have dismissed DOGE as an obvious joke, but you would have been right, but wrong.

[TrueCryptonaire]

Bigger risk, better reward  Grin

not always the case.  buying magic beans is really high risk.

ive never heard of magic beans actually paying off.  

so not always the potential for higher reward just cuz something is higher risk.  

If there is no potential for gain (or even recovery of your investment) then there is no risk, just guaranteed loss.

Risk means you don't know what is going to happen.

Both are right approaches.
In finances and stockmarkets the risk is defined as the mean variance of return (often it is called by the name of volatility).
However, in this case risk is more like "business risk".
If I start a business, it has basically limitless possibilities and I might become a billionaire but also I might end up bankcrupt. It is not so much risk, it is more like uncertainity of future outcome.

In investing, risk is not uncertainity but simply ROI movements (ie an asset could be extremely risky despite it goes nothing but up with high percents daily - never going down - and making its owners wealthy).

[UnicornFarts]

I stumbled across this today (I love the buttcoin reddit)

https://bitcoinfoundation.org/forum/index.php?/topic/1132-open-letter-to-bitcoin-businesses-why-im-closing-my-accounts/

It seems to me that the powers that be that are more or less controlling the ecosystem of bitcoin are starting to throw their net out in exchange for feeling cozy with the government.  I could be 100% wrong about this but making the assumption that crypto is / will be successful.  This opens up the anon market for oppressed peoples (not talking about the anarch americans that think having to pay toll is the same as slavery.  But real, actual oppression.)

[rdnkjdi]

Smooth I would like to ask you a few questions about the team.  I keep hearing you allude to "If there isn't enough funding for the team eventually we will move on."  And I have a few questions on that.

1.  How interested / motivated / excited is the team about this project?  I mean are people just right on the verge of "moving on"?  Or is there still excitement on continuing progress on the project?

2.  What do we need funding for if the team is working on this in their free time?  I want to be clear - I think you guys should be 100% compensated for your time (who would want to have a US President doing it for free?)  But the reality is you guys are paying out from what I hear more than you are receiving in.

My question is more about what is your gut level feeling about future expenses not related to compensating the core team for the work they are putting in on their free time?

3.  What can we do to keep the core team motivated besides donating?  I've sent my 5% in and about to bump up to 10%.  If all the whales did this - funding wouldn't be an issue.  But I don't expect funding to ever be resolved under the current donation approach. 

[smooth]

Smooth I would like to ask you a few questions about the team.  I keep hearing you allude to "If there isn't enough funding for the team eventually we will move on."  And I have a few questions on that.

1. Keep hearing? I mentioned that once a month or two ago as a long term concern (i.e. emphasis on the world eventually). Perhaps this is exactly what you are asking though.

2. Donations are presently used for hosting and paying outside contractors. It is hoped that eventually some donations could be used to pay core team members for our time and expenses but that has not been the case so far and we are realistic that the coin will likely need to grow a bit (with our efforts) before that becomes practical to do at a meaningful level. As far as your question about future expenses I expect more of the same.

3. We don't expect people to make unrealistic donations. 5-10% is really, really generous. We are also pursuing additional sources of funding such as providing paid support and services for businesses who want to integrate and use Monero. We've already had some requests for that, and I expect that to be an increasingly important source of funding as the coin (hopefully) continues to grow.

Aside from donations at a reasonable/realistic level, the best thing people can do to help with enthusiasm is to engage in their own efforts to help the coin grow. When we see people using it, businesses and individuals being encouraged to adopt it, and new services being built for it, that encourages us.

[Dotto]

polo is traget of heavy ddos attack. hope it wont take too long for them to come back

I have just logged in, it´s ok.

[grouper fish]

polo is traget of heavy ddos attack. hope it wont take too long for them to come back

yea haven't been able to use polo all day, was wondering what was going on. 

[dEBRUYNE]

polo is traget of heavy ddos attack. hope it wont take too long for them to come back

yea haven't been able to use polo all day, was wondering what was going on. 

Poloniex is working fine here. The DDOS was a few days ago.

[grouper fish]

polo is traget of heavy ddos attack. hope it wont take too long for them to come back

yea haven't been able to use polo all day, was wondering what was going on. 

Poloniex is working fine here. The DDOS was a few days ago.

Looks like I have to learn to check the dates before I post..   

Read in the trollbox after that there were some uppdates going on. Well everything is working fine now. 

[doogsan]

Bigger risk, better reward  Grin

not always the case.  buying magic beans is really high risk.

ive never heard of magic beans actually paying off.  

so not always the potential for higher reward just cuz something is higher risk.  

If there is no potential for gain (or even recovery of your investment) then there is no risk, just guaranteed loss.

Risk means you don't know what is going to happen.

Both are right approaches.
In finances and stockmarkets the risk is defined as the mean variance of return (often it is called by the name of volatility).
However, in this case risk is more like "business risk".
If I start a business, it has basically limitless possibilities and I might become a billionaire but also I might end up bankcrupt. It is not so much risk, it is more like uncertainity of future outcome.

In investing, risk is not uncertainity but simply ROI movements (ie an asset could be extremely risky despite it goes nothing but up with high percents daily - never going down - and making its owners wealthy).

Actually no.