Topic: Monero Economy - page 25. (Read 43675 times)

Monero will never become popular without plain wallet/GUI that can be used by any typical user. It will stay forever a toy for geeks.

According to MRO subreddit 32bit miner is out. This means the coin will be botnet raped.

Why hasn't it reached exhnages yet?

You have really no idea, the daemon, the wallet and everything has a wonderful RPC JSON API and a high level api....

No.



If you could back at the beginning of Bitcoin knowing what it will become, would you complain about GUI ?

MRO will necessarily have a GUI later but it will be too late for you to buy.

These are the early days and anybody investing knows that Monero is the only real alternative to Bitcoin. Heck its not even an alternative, its is better than Bitcoin with privacy, aka Darkbtc

Jesus with the GUI. Its like 3 copy paste!

I confuse with Blackcoin, that's why.

You must be kidding I like concept of Monero (Cryptonote) but it has no GUI, no community, no API, etc. MRO is highly overvalued for its time.

Ofc. It is the first X11 coin.

I didn't know Darkcoin was PoW, is it ?

In this case I agree that MRO is underpriced.

you see what you do there don't you? you are comparing 4,2 million dark coins to 18 million mro - afaik the total supply of darkcoin after the end of mining will be 21 (or 18) million dark. in this case you could simply take the price of both and compare them 0.00175 to 0.00375. dark market cap is in this case at least 2,25 higer than the one of monero.

I believe Monero competes with untraceable coins. Tracability matter in a lot of transaction (especially when public funds are at stake). DRK should be worried, not BTC.

Of course, there will alway be groupies claiming it's the next bitcoin. I don't know if, as official representative, we should say something in one way or another.

Except that you forgot the most important : the value of FIAT money in the future will be lower than now.




Monero doesn't pretend to be the next Bitcoin but it is actually one of the most interesting existing cryptocurrency. You have the right to not like it but everyone should admit that its potential is huge. Just compare it to 99% of the altcoins that are just scrypt-clones made in 5 minutes with stupid names and kids hyping them.

as an example; let's imagine a coin that will be fully mined in 2016. only 10% of supply on market today, if current market cap based on last 24hr trade and total current supply is 300k and you are buying TODAY with intention of holding long-term. $100k worth (ie, not a short term speculative flip) you need to believe that coin can achieve 3 million by 2016. if you held till 2016 and total valuation is 2.5 mill you've lost money on that trade, really as simple as that. Of course 95% people don't care about the coins value long into the future when total supply reached; hype and mania in such new markets promising to make early adopters rich will take over all common sense, guaranteeing an exit along the way. also it will be dead before 8 years. in cryptocurrency space 8 years is long time. But for serious investment it's not so long at all.


no exchange no pool, no wallet can contribute to price increase. Low liquidity /High barrier to entry means It's a sellers market, and a lot easier to manipulate price on such shallow market. Buyers get word of 'the next bitcoin'  want their slice of the pie & largely have to put up or shut up with the asks or risk nothing getting filled, it can be like bidding sniping war. Real price discovery comes on functioning pool, noob friendly wallet and exchange rather than antiquited forum thread
 

Which mean we are entering the top 50 after only two weeks with no premine, no instamine, no exchange, no pool and not even a GUI wallet.

Cross-posted from the OTC thread, because I discovered this thread later and also because it should be interesting for readers of both threads.

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Price of monero still climbing on the three indexes (max price, average price, median price). This means (IMHO) that the climbing shall continue.

("max" is the least representative, "median" is the most, "average" is in-between)

Source: Monero trading (you can leave comment on this document, for typoes, oversights or feature requests, I will read them)

We don't, all other market capitalization numbers are based on available supply. So yeah, we're at about $300k now.

This. And actually 0.00175 is max price. So it is actually less. I cant understand why we need to consider max coins 8 years before we reach max coins.

 

Current and only interesting marketcap is:
bc_height 27654

27654 * 17.7 (approx) = 489 475 MRO

489 475 * 0.00175 BTC = ~ 856 BTC
856 * 430 USD = 368 080 USD

My correction of Anotheranonlol claim from the other thread :


No.

18400000 MRO x 0.00175 BTC = 32200 BTC ~ 13.9 Millions.

Above Darkcoin, its competitor. Above Blackcoin (that is overpriced). Under Namecoin & Mastercoin.

The price of Monero perfectly matches its market.

2 da m00n !!!
(somebody had to post it )

On a serious note: I don't think it is overvalued at the moment.
When the GUI + pool is ready, and we are on a real exchange, I guess MRO can become a top10 coin in market cap very soon.
A valuation of 10 million USD is not impossible in the short term. Asuming 1 million coins in the near future => 10 USD/MRO = 23 mBTC.

Current exchange rate is 1.75 mBTC

so let's be conservative. A tenfold increase seems to be realistic...