Topic: Is it possible to destroy Monero (XMR)? - page 7. (Read 10399 times)

http://kolinevans.wordpress.com/2014/07/31/cryptocurrency-to-cryptocurrency-ipos-are-a-completely-corrupt-deception-the-simple-technical-guide/

That guy thinks otherwise...But i dont have a personal opinion.

NXT! BCNext does not own any NXT afaik.

NXT started with ~8 whales, a few dolphins, and many big fishes. Very fair launch too, over two months long, very public. As it was the first 'IPO' people didn't see NXT for what it was, but they do now.

NXT launch has all the criteria for fair process, just the outcome people didn't like. Same as bitcoin ... and XMR too

I don't think tech matters much. It should be easy to use, that's all and even that matters only when there are 10M's of users. By then the winner is probably chosen already.

The prospective devs should understand that a successful coin is ultimately the money supply of the world. You cannot premine 30% of the world. The world will not buy it. If you premine, it means to me that the coin is not even designed to have any long-term chance. And it is true. Very few even try.

Interesting question that I don't know the answer to.  Is it possible to know the answer to that question?

Do you think that that one factor - even if true - is enough to make the coin successful?  Or that factor plus technical merit?  I guess in the alt world isn't it kinda difficult to say with authority that a coin is going to be successful?  Is that where the frustration is coming from - that the factors you thought would make a coin successful aren't?

Satoshi has > 1% of bitcoins in existence.  I have no idea how many litecoins Charlie holds and don't know how to check.  Those are the only two coins I view as successes (although I think lite is dying).  So I don't know how you can claim that THAT is what it takes to make an altcoin successful with as much definitive certainty as you seem to have.

that guy is right. busoni is behind it so peopel hating poloniex attack it

I want to say this with as much respect as possible. Show me a coin where the dev holds less than 1% of the coins in circulation.

Of course I respect the devs, but I have to say that equally important is that the devs respect the whales. The whales make the economy. Economy is the reason why the coin exists. I can support Monero without even having a functioning wallet (wrong OS), because the distribution of coins is right.

I want to say this with as much respect as possible.  But how many alt coins have you been involved with?  How many have you seriously taken a close look at?  I've seen you saying you have had no use for alt coins until Monero which leads me to believe you never took a serious look at previous alt coins. 

Go away. I am feeling sorry for you. You know that I forgive you if you just ask.

Why are you so fucking concerned? (scared) You reek of doubt. This entire thread reeks of doubt.

As for destroying Monero? Well something seriously better might come out. A huge bug may be found. The team may stop creating what they have promised. Such investments have big risks.

But i am not afraid of FUD and someone who entered poloniex a week ago and posting all day long 'My coin is better'. That's typical of every coin. Bitcoin/litecoin/namecoin was a scam, useless, ponzi, bubble etc.. And that may be true. But not because someone is verbally attacking coins all day long on trollbox/forums...

I want to be quite frank here. I think Monero is not the best implementation of CN. It also does not have the best emission schedule.

But what it does have is the fairness. If anyone has 10,000 XMR, everyone knows that he has acquired them on equal terms with anyone else. This is very important to many people. There is really no comparison. And even Monero mining was crippled in the beginning, but is sorted out now.

I can buy any coin. But there is no other coin that I could buy and feel good that it is fair.
 

Or I have mis-evaluated the situation somehow.  Is the other possibility.  And I think this is the spot people are at with this coin (based on your original post)

Someone had posted this the other day, I think it was in the Monero thread and I'm wondering if there's any truth to it.

http://da-data.blogspot.com.au/2014/08/minting-money-with-monero-and-cpu.html


I don't know much about the history of Monero but what little I know leads me to believe what Melbustus had to say is a big part of it, especially #1.

People are pushing this coin because it really is the best option in anonymity/privacy (you name it). Its not only monero. Other CN coins too. The rest is just not relevant as anonymous/private coins. We dont know if something better comes out soon. Zerocoin/Zerocash will come one day and we will see what it has to offer. But for now the other solutions are just not relevant.


This coin is not premined/ninjamined. Its actually one of the most fair distributed coins. Sure some have much more that others. But its like 10 times more fair than other coins. Why? I think 1 block diff retarget helps a lot. Much discussion on that one...Private miners? Yes but the already sold everything. They didnt hold. Noone has too much of it in order to hold it for a while, wait for the price to bubble and then dump it. This is what happened with most other premined/ninjamined coins. The emission is high enough in order for it to be cheap and stay cheap for a while. Monero is not going to go 10x in a month time. At least until emission is slower and a market for it opens and some more whales jump in. Its just not another fast high profit gamble. Though all cryptocoins are gamble of course.

You will soon see ducknote go bubbling. Because emission was extremely fast and noone gave a damn about it. I believe it was on purpose named like this and they never tried to market it even a bit so they can mine the most by themselves. They they will probably remarket it with a better name and do some marketing and everything is fine for a nice pump&dump. Hopefully i will sell my ducknotes 5x if i am fast enough.


As for BBR? I hold BBR too. Its like 10:1 . Thats the odds i give it to succeed better.


Anyway, thats how i see things.  I may be mistaken. Do you own research.

My previous long post answers this:

Fair launch. It is just so precious. And never before happened as well. So that the largest holders are not there by accident (or more likely planning by the dev), but because they wanted to buy a crappy coin at a high price. Monero's history is special.

Just tell me one example of a coin where the dev is not the largest owner.

I believe it is very good that the coins are not dev pet projects.


I can only say that if something should happen, but has not yet happened, there is a good chance that it will happen.

Okay, Mr Random, you're right about the coin market cap.

In saying that, I'm not sure how much XMR is being introduced daily by miners. the last time I bought some it was quite a bit cheaper, and i sold it at about 10% profit.

I find the figures quite staggering at Poloniex, but it seems to be dropping off a bit. So we either watch it decline or burst back. XMR does not strike me as a coin to just muddle along at average price.

As someone who's mostly a wall observer and who thinks anon will be the next big thing if there is a next big thing.  (I'm actually REALLY interested in the effects of having an anon coin with high liquidity.  I believe it will shift power dynamics back to individuals.) I've been paying some attention to Monero & BBR.  There's XC, DRK & BTCD.  But I really kinda have a beef with partial closed source and PoS because I feel like it inhibits the possibility of widespread adoption.

I'll say from an objective observers perspective.  Monero seems a little like a long term holders groupie coin.  It's probably my biggest beef with it.  Whenever people push something as hard as it's pushed you have to wonder what's really going on.  In addition to this - I posted this in the XC thread when people accused me of being a Monero shill.


Why are people pushing the coin this hard when it has this many problems?  Please PLEASE don't accuse me of being a fudster.  If somebody does that one more time I will lose all confidence in the idea of objective observation.  There is intentional hatred on whatever coin is successful (IMO litecoin gets the most of them).  So I'm not sure there is a concentrated effort on destroying it.  I think the proper question is

"Why is this coin not taking off when so many big names are supporting it"

Sad but true, soon this forum will be so full of toxic coins & people it will collapse in on itself. Too many coins now, impossible to find & follow the goods for anyone who isn't full time crypto investor now. This is a day I welcome!

So many decentralised coins with massively concentrated ownership. Makes as much sense as Chinese communist party officials running largest capitalist market based economy. It can't last much longer. Once the alt coin forum on BTT implodes valid coin communities will need to setup their own forums. That is the day crypto becomes truly decentralised.

edit: how many big investors own single digit % stakes in multiple contender coins? Some guys probably own 1-5% of all the good ones by now. It's insane, but I bet it's true.

I agree. OP is plain wrong on that point.

Market cap though is determined by coin quantity too which has increased massively since May. Even if price did remain the same, the market cap still would have increased significantly.

On the first exchange you could buy/sell XMR on the price was hovering around 10. But the trade volume was low. It's around 40 now. That 4 times increase is a nice gain but pales in comparison to what I have made off other coins that I bought early that went on to be winners.

The point OP is trying to make is the coin is fairer than most coins.

The volume was about 2-300 BTC a day on Poloniex for a few weeks, as was well documented on this forum.

To say nobody has made money on it, and quoting an average price is absurd, especially from someone regularly using market terms and speaking about XMR as if it was an exciting investment opportunity.



As you can see from the chart, there has been quite a large gulf between high and low. The volume today is being quoted as $120k  (which I believe is about average for the last month). The market cap is quoted as $6,3m, which is quite a bit higher than the $2m it it was valued at in May.

http://coinmarketcap.com/currencies/monero/

So either people have made a bundle, or the trading has been fake.