Topic: rpietila Altcoin Observer - page 109. (Read 387552 times)

when you first create your address, you will be given 24-word seed (similar to Electrum wallet for Bitcoin) which act as your private key.

the alternative way is to backup your *.keys file (which contain your encrypted private key)


There is at least 2 GUI for Monero, but they was developed by other members of community, not official one. I heard that official GUI will combine both daemon and simplewallet into one executable binary (need some dev to confirm this)

Do you see Monero as a buy right now? I've got my eyes on monero since some time but due to inexperience in the altcoin market and unwillingness to trade on these wild west altcoin exchanges I have refrained from buying so far. The fundamentals look solid to me aside from the blockchain bloat issue.

I thought about entering when XMR was at $2.5 the day before yesterday because I missed my chance when it was at $1.7 before but since then it has almost dropped 20 %. Why? Is there a specific problem right now?
In case I buy in I think about holding for some time because of the longer term upward potential I see with this coin. What's the easiest and most secure way to hold Monero? I've check but there seems to be nothing like a paper wallet. Can anybody point me to the safest way to hold XMR for somebody who is not extremely tech savvy and uses windows?
Iirc there was not even a windows gui wallet for xmr in the beginning, but this has changed, right?

EDIT: I've found the tutorial. https://monerotalk.org/t/bounty-create-a-useful-tutorial-on-how-to-setup-monero-closed/13/8
Wow, yeah, that's going to take me a while.

I have same feelings that there might be private GPU mining XCN since day 1. I started solo mining Monero on 7th day and was able to find 4 blocks in 2 days with my computer running 8-core Xeon E5, but till now i have found nothing with XCN despite the fact that i have been solo mining it since first hour !

Private GPU miner is extremely harmful for the economy, XCN community should get a public GPU miner ASAP.

Bologniex trollbox is what makes trading crypto worthwhile.  It's bout 50 guys trying to rub two nickels together while talking about how Vladimir Putin is making Myriadcoin the new reserve currency.


Yea, that's quite a nice highly optimized GPU miner you have there.  This is like when Maxcoin launched with a couple guys having Nvidia miners on day 1 mining 5000x faster than everyone else.

XCN price is a train wreck waiting to happen until there's a long and reasonable explanation about that address.


This is easily explainable by CPU coins not being able to achieve effective distribution to enough parties (miners), alongside the other possible issues that are up in the air with Monero about bloating and what have you.


When I did my rough math calculating if there was any profit to be made (XCN), I think my figures were it was the equivalent of Dogecoin being around 120 Satoshi already.  As a few other people have said, the price is pretty damn high for a freshly launched coin and will most likely see a nice plunge before it goes anywhere.  The issues with people having hidden GPU miners and getting enormous amounts for possible dumps to oblivion is also problematic.  

All you really have to do is look at precedent we already have for coins where any hidden GPU miners are involved.  Every single one of those coins had apocalyptic price crashes from the initial price.  The coin is a complete gamble at the moment.  This concludes the XCN r0ach report.

In fact if you run the numbers, if the XMR market cap (with total supply) equates one day the one of LTC as it is currently, the price would be ~0.06 BTC / XMR.
This is not an upper bound, as litecoin has nothing to provide over bitcoin.

Did you mean to quote me? haha yes I don't go by magic numbers. I was merely saying it was widely known that TA won't work as effectively at this stage of the game. Supply and demand, simple.

The anon market is fragmented. If XMR was the only anon coin, maybe things would be different. This is also why psy ops are being played on sellers and buyers of various coins, including this one. Pulling magic numbers are part of this deal and just that.

looking here and in the polo trollbox it looks like a concerted action.

but maybe I should join irc to see if there is something fundamentally wrong.

Let's make it simpler then.

If Monero ends up as a 50,000 bitcoin coin in two years, then buy around 0.0033ish, expect 0.01 if you can imagine a price of 150,000 bitcoin in two years.

I'm buying not because of Jesus (I invested well before rpietila talked about Monero) but because the development of this coin is strong and I am investing based on Monero replacing 3rd place minimum, and taking out Litecoin as a bonus.

Expect a price of 0.02 if Monero does take Litecoins place.

If you're buying because of magic numbers and technical analysis, I would suggest withdrawing your Monero and Bitcoin and try the local casino.

This coin will not do well if half the investors lose their money to large whale pumps.

Ok.


Some people hold, some buy, some dump.

The price moves up, or down, or stays the same.


I'm personally not a fan of technical analysis. I know rpietila has made millions from technical analysis, but most of us wont. I think day trading is for most of us, very close to hitting red or black on a roulette wheel.

Common knowledge. This along with aminorex's "mining costs" BS. But they are successfully building the XMR army with each buy in at any given price. That is how it works.

For more lulz, visit Polo trollbox and watch the puppets parroting.

First, let's see close below 0.00365 to be clear of the situation. THEN:

That 0.00365 was broken, means that the uptrend that started July 13 in Poloniex when the price was 0.002315, is likely ended.

Thus no lower price cannot be ruled out, there is no real support in lower levels except 350 (soon broken), 250, 231 and 175.

Yes, breaking 365 means a great deal. It means that we are going down.

Sad but true

It is great if Litecoin adopts mini-chain. It will be a huge win for Litecoin. However, I am not sure if Litecoin devs are competent. I have never thought that Litecoin coders are good

So Monero Jesus's magic number of .00365 was broken. What happens now? I think any analysis involving what amounts to arbitrarily chosen magic numbers is pure bullshit.

No doubt that XCN has innovation, it help reduce needed resource for full nodes and clients. However average users will end up using light-weight clients and web wallet anyway, that would be scenario of cryptocurrency if we could reach mass adoption. People who running full node will still be limited within crypto enthusiasts only, and the "reduced cost for running full node" is actually not a big different, hard drives are getting bigger and cheaper over time.

About XMR, it seems the price will break 0.00365 soon, order book doesn't look good.

I will not invest in XCN at the moment. No use case for it yet. The fact that it has to compete directly to Bitcoin makes me rethink about its business model. I lost in Doge.

It is one problem less to worry about, but tights and a batmobile still may be handy as we may learn that some of miners of newer projects with good perspective do not obey all laws of physics and chemistry 

Disagree. I am fine with large early holders:   Only 3m coins have been mined, and another ~60m to mine in the next 12 months.

now it is officially a pump and dumb. anyway gl - it needs around 50 btc daily to keep somewhat around 0.0001

the idea was btw quite nice

Confirmed, the worshippers of the moon are active. +60% in 24h... moonstruck pump?