Unveiling the truth over the major Monero scam

[othe]

Wait, are you talking about Litecoin and accidently written XMR?

[smooth]

The volume is another tell-tale sign of it being suspect. It's trading around 100 BTCs a day, yet the price is more or less static. This is coupled with a number of posts on here and at Poloniex about Monero's ranking at Coinmarketcap.

How about the simpler explanation being most of the 100 is the amount mined per day (80 BTC) and given that the mining is close to break even most miners have to sell to pay their expenses? In fact I was looking on one of the big pools yesterday and the two biggest miners there had their coins going directly to poloniex. You can bet those are very likely being sold.

What is different from many other coins is that the coins being sold by miners are being actively sought after by investors, keeping the price stable. You may disagree with those investors about the future prospects for Monero but ultimately no one is forcing them to do it. They believe it has a bright future, you don't. That's why there are markets.

If you don't think the potential is there, I suggest you stay away. I promote the coin not at all. Anyone who buys it must come to their own conclusions.

[rikkejohn]

The volume is another tell-tale sign of it being suspect. It's trading around 100 BTCs a day, yet the price is more or less static. This is coupled with a number of posts on here and at Poloniex about Monero's ranking at Coinmarketcap.

How about the simpler explanation being most of the 100 is the amount mined per day (80 BTC) and given that the mining is close to break even most miners have to sell to pay their expenses? In fact I was looking on one of the big pools yesterday and the two biggest miners there had their coins going directly to poloniex. You can bet those are very likely being sold.

What is different from many other coins is that the coins being sold by miners are being actively sought after by investors, keeping the price stable. You may disagree with those investors about the future prospects for Monero but ultimately no one is forcing them to do it. They believe it has a bright future, you don't. That's why there are markets.

If you don't think the potential is there, I suggest you stay away. I promote the coin not at all. Anyone who buys it must come to their own conclusions.

well if miners are dumping to break even, then they clearly don't see a future for this coin.

[smooth]

well if miners are dumping to break even, then they clearly don't see a future for this coin.

The ones selling don't (or simply don't have the personal wealth to hold a lot long term), and the people buying do. There are always buyers and sellers. It's the same in any market.

[othe]

well if miners are dumping to break even, then they clearly don't see a future for this coin.

Thanks for the perfect describtion of the Litecoin ASIC mining scene.

[rikkejohn]

why mine to break even?

There are a number of coins that will make you a small profit, so I don't buy your story, especially given the hype surrounding Monero. it should not be mined and dumped if miners can mine it at slightly under trade price.

[dnaleor]

I'm involved in this coin from week 2 and can honestly say that those accusations are just FUD.
I will not even bother to reply anymore in this thread...

[smooth]

why mine to break even?

There are a number of coins that will make you a small profit, so I don't buy your story, especially given the hype surrounding Monero. it should not be mined and dumped if miners can mine it at slightly under trade price.

How about because I didn't say they break even? Try reading.

given that the mining is close to break even most miners have to sell to pay their expenses

Furthermore most miners who are only mining at a small profit are going to be selling at least most of whatever coin they mine, especially if they are doing it at any kind of scale and have bills to pay.

[rikkejohn]

well if miners are dumping to break even, then they clearly don't see a future for this coin.

Thanks for the perfect description of the Litecoin ASIC mining scene.

Honestly, your replies are silly, especially given i don't have an interest in LTC beyond speculating on it at this low price.

[rikkejohn]

None of you have anything to say, you attack the poster or divert attention from points of view to ensure threads become petty.

You can't defend Monero at all.

[othe]

Why would you speculate with that when miners don´t even keep their coins because they don´t believe in its future of it, just to quote yourself.

Of course my replies are silly because you are the top 10 list of most stupid bitcointalk users, there's nothing clever one can reply to your bullshit.
All of your bullshit has been answered already 100x times and no one here will repeat it for you given that you are too stupid and arrogant to understand it anyway.

[smooth]

None of you have anything to say, you attack the poster or divert attention from points of view to ensure threads become petty.

You can't defend Monero at all.

There is nothing to "defend" here, just a bunch of baseless insults from people who for whatever reason don't like the coin or the project.

There is certainly no organized scam, very little hype, and nothing of substance to attack, so of necessity the attacks lack substance. I see no way to defend against that (nor any purpose to doing so) other than to continue stating the facts as I see them.

[xulescu]

Smooth, your activity counter indicator says 420. Maybe you should heed its advice and take a break from the flies.

[mmortal03]

Dead thread, all points easily disproved above. Move along people.

Monero is the most well-organized pump job I've ever seen. Not only do they have an army of devs and paid fanboys spamming monero 24/7 but they also have the backing on an entire EXCHANGE to help coordinate and strengthen their pumps! (Poloniex, if there was any question).

Monero represents the essence of greed and stupidity in the crypto community and although it is one of the more sophisticated scams / Ponzi schemes I have encountered here, it is still a scam / Ponzi nontheless.

THINK ABOUT IT: Does ANYBODY care about Monero except for the flaming fanboys and Poloniex? NO!!!

 - NO real-world application
 - NO desire to integrate into day-to-day finances
 - NO long-term plan or evidence the dev team plans on being around even more than 1 year from now.

Evidence, please. Have you even read their Missives? Your "arguments" seem to be approaching the level of a Gish gallop:
http://rationalwiki.org/wiki/Gish_Gallop

[J1mb0]

None of you have anything to say, you attack the poster or divert attention from points of view to ensure threads become petty.

You can't defend Monero at all.

There is certainly no organized scam, very little hype, and nothing of substance to attack, so of necessity the attacks lack substance.

What a joke. There are, constantly 4 Monero threads in the top 2 pages at all times. Constantly rotated 24/7. That doesn't include all the other non XMR threads that are spammed constantly by the shills. Oh Yes! It is undoubtedly organised! 

[nutildah]

Dead thread, all points easily disproved above. Move along people.

Monero is the most well-organized pump job I've ever seen. Not only do they have an army of devs and paid fanboys spamming monero 24/7 but they also have the backing on an entire EXCHANGE to help coordinate and strengthen their pumps! (Poloniex, if there was any question).

Monero represents the essence of greed and stupidity in the crypto community and although it is one of the more sophisticated scams / Ponzi schemes I have encountered here, it is still a scam / Ponzi nontheless.

THINK ABOUT IT: Does ANYBODY care about Monero except for the flaming fanboys and Poloniex? NO!!!

 - NO real-world application
 - NO desire to integrate into day-to-day finances
 - NO long-term plan or evidence the dev team plans on being around even more than 1 year from now.

Evidence, please. Have you even read their Missives? Your "arguments" seem to be approaching the level of a Gish gallop:
http://rationalwiki.org/wiki/Gish_Gallop

How can I provide evidence of something that doesn't exist? The burden of proof is on you to come up with examples of real-world application for Monero because I can't find any.

There are hundreds of other coins out there that do the exact same things Monero does. Its just that the monero devs were richer kiddies than most others.

Honestly ask yourself, can you ever see somebody like Warren Buffet actively recommending a coin with a name like "Monero" to his newsletter-readers? Do you honestly see any merchants adopting Monero the same way they are beginning to adopt BTC and LTC?

NO! The answer is NO! No credible merchants will ever accept Monero because its just another bland, faceless shitcoin, centered around a cult of personality.

Monero was only built for 1 thing - to trick rich kids out of their money. The name, the neverending cheeseball pumpjob, the foaming-at-the-mouth fanboyism, the collusion with major exchanges to promote themselves, its all smoke and mirrors. It will never amount to anything useful for 99.9999999% of the planet earth.

[othe]

http://www.reddit.com/r/Monero/comments/2dum4r/i_am_a_new_york_city_psychiatrist_who_accepts/

For example....and here are also people who accept it...

If you need some help on how to use google, its btw. called a  "searchengine" if you are unfamilar with such it techniques, i can help you, my grandma also knows how to use it.
https://bitcointalk.org/index.php?topic=702140.msg8527211#msg8527211

What a joke. There are, constantly 4 Monero threads in the top 2 pages at all times. Constantly rotated 24/7. That doesn't include all the other non XMR threads that are spammed constantly by the shills. Oh Yes! It is undoubtedly organised!

You are the idiot holding the thread up with your bullshit comments, congratulations you found out how forum software works.

[parker928]

We know hes a scammer and he has nothing todo with xmr, jojo didn´t know him.
But the Bytecoin scammers are so busy with their own scam they don´t notice the other real scammers here and they think we are so stupid that quoting other scammers helps them.

Meanwhile in Bytecoin land: http://coinmarketcap.com/currencies/bytecoin-bcn/#markets

Volume (24h)
$ 70


No wonder they are sad.

holy shit that was hilarious

I definitely got some lulz out of this post

+1 to this user

[parker928]

LULZ ok I just read all 5 pages

I have been invested in monero since it was on the original crypto note exchange, before Busoni ever even heard of it, and I was making small purchases off the OTC forum, before the crypto note exchange was even open. My point is I have been with monero literally since day 1.

I will admit, first I was slightly alarmed by the title of this thread, but then once I started reading, I realized it is easy to see everything on here is complete bullshit paid for bytecoin devs who are (understandably) extremely butthurt about what happened. Bytecoin devs, I can understand how shitty you must feel, especially now that since average daily BCN volume is less than $100 and it is becoming exponentially difficult to dump your premine on unsuspecting users, which means your funding is withering away faster than Bytecoin itself. Let me remind you how few people have ever even heard of BCN...very few.

With that said, there is no such thing as bad publicity. As a matter of fact, I encourage further shilling/trolling from you folks, because a thread designed to hurt monero, such as this one, would surely be the best source for negative information regarding it, and if this is the best you guys can come up with, monero is doing even better than I thought. Lots of people are going to come here, and read this, and say "Really? THIS is why they think monero is a scam? BUY BUY!"

Keep up the good work fellas. 

[Zer0Sum]

monero is doing even better than I thought.

You can't be serious... Monero has gone absolutely nowhere.

The standard is not ninja miner cost in April or whatever...
The standard is the first week listed on Polo when the Ave Price was 0.00530
That's the fucking standard for "doing better" or sucking shit.

I've made over 2,000 XMR trades because it's nice to scalp it on 3 exchanges...
And the volume is real, but I'm certain XMR is being heavily manipulated by a few whales...
Probably on direct orders from the McRisto Pump Mothership.

Even the crack hos on the street know a Big Pump is coming...
Every day I hear, "I'll blow you for some Monero, baby".

XMR is positively levitating like a shady snake charmer...
While far superior coins with SANE communities have gotten crushed.

Let's face it...
This is a Gen 1.0 one trick anon pony...
Up against a Gen 2.0 Crypto Asset platform shoot out...
With major corporations about to start rolling out well financed Gen 3.0 crypto.