Topic: rpietila Altcoin Observer - page 159. (Read 387493 times)
This is not regulation only for btc but for all "virtual" currencies. It applies not only to btc exchanges but to the alt exchanges as well. Yes this is NYS regulation (for now) but never the less it will have significant and immediate impact far beyond NY.
Ben Lawsky's comments yesterday really are going to push the anonymous coins to the forefront imo, but I think we all saw that coming.
Indeed. After reading it, the scenario where bitcoin and an anon coin will exist side by side, both fulfilling different requirements became more probable than ever.
Ben Lawsky's comments yesterday really are going to push the anonymous coins to the forefront imo, but I think we all saw that coming.
Strongly suggest reading Eric Voorhees article regarding that here. (Glad this guy has a ton of BTC)
http://moneyandstate.com/reflections-right-privacy-response-nydfs-bitcoin-proposal/
Strongly suggest reading Eric Voorhees article regarding that here. (Glad this guy has a ton of BTC)
http://moneyandstate.com/reflections-right-privacy-response-nydfs-bitcoin-proposal/
Here's my (kind of obvious, I'd say) explanation for why Monero goes through these pump and dump cycles. If the price begins to go up, mining becomes more profitable. Botnets or other big miners move in. They dump when the price is high, thus the price falls until the cycle repeats.
Not sure the downtrend/consolidation will last several days. For me we're more likely to go >0.0055 again within 24h than not.
i have the same feeling. The attention on monero is rising.
I would be positively surprised, if there's coming a longer consolidation or even lower lows.
Not sure the downtrend/consolidation will last several days. For me we're more likely to go >0.0055 again within 24h than not.
i have the same feeling. The attention on monero is rising.
Not sure the downtrend/consolidation will last several days. For me we're more likely to go >0.0055 again within 24h than not.
Risto have you ever looked into protoshares - angelshares - bitshares?
Thanks
Not directed at me but I hold a good amount in those. My problem with the whole ecosystem is the screwed up distribution system:Thanks
Quote
It was actually supposed to be:
1 PTS = 1.28 BTS
Dev's incompetence meant 3I couldn't mine as many as PTS they wanted. So, the new plan became:
1 PTS ~ 2 AGS = 2 BTS for you (rough estimate)
and
1 PTS = 1.28 BTS for 3I (what the f**)
So basically creating 1 share out of thin air.
1 PTS = 2 BTS for you + 1.28 BTS for 3I
Say I open an IPO asking you to donate BTC to me. Each BTC will be awarded 1000 coins each. So basically you would think:
1 BTC = 1000 N coins
but then I say, I too have a BTC which you donated so from the same BTC,
Donate BTC = 1000 N coins to me as well
that is,
1 BTC = 2000 coins = 1000 to you and 1000 to me
That doesn't sound correct.
1 PTS = 1.28 BTS
Dev's incompetence meant 3I couldn't mine as many as PTS they wanted. So, the new plan became:
1 PTS ~ 2 AGS = 2 BTS for you (rough estimate)
and
1 PTS = 1.28 BTS for 3I (what the f**)
So basically creating 1 share out of thin air.
1 PTS = 2 BTS for you + 1.28 BTS for 3I
Say I open an IPO asking you to donate BTC to me. Each BTC will be awarded 1000 coins each. So basically you would think:
1 BTC = 1000 N coins
but then I say, I too have a BTC which you donated so from the same BTC,
Donate BTC = 1000 N coins to me as well
that is,
1 BTC = 2000 coins = 1000 to you and 1000 to me
That doesn't sound correct.
and lead to increased selling towards lower lows - something which us whales can prevent (but do we want?)
Can we just let anything grow organically? people or manipulators like you are the plague which will prove to be the fall of crypto
Is not better to follow manipulation and make your deal with it? In most cases I can't find any manipulation and most of this as well as all these conspiracies (government attacks against bitcoin etc.) are not more than normal market development. But sure, where people can manipulate, they'll do.
If (a) crypto would fall effected by manipulation it was to weak to survive, economic evolution.
Futhermore:
Quote
- It's important IMO that 0.00365 (2nd fibonacci from 0.00231->0.00581) is not violated, because that would question the legitimacy of the uptrend, and lead to increased selling towards lower lows - something which us whales can prevent (but do we want?)
I can't find any manipulation in that. There's no mandatory level to catch up selling pressure.
and lead to increased selling towards lower lows - something which us whales can prevent (but do we want?)
Can we just let anything grow organically? people or manipulators like you are the plague which will prove to be the fall of crypto
Nope. Manipulators have been manipulating since the very beginning and it seems to me we are doing fairly well in spite of this.
and lead to increased selling towards lower lows - something which us whales can prevent (but do we want?)
Can we just let anything grow organically? people or manipulators like you are the plague which will prove to be the fall of crypto
If manipulators alone are going to be the downfall of crypto then it never really had a chance anyway.
and lead to increased selling towards lower lows - something which us whales can prevent (but do we want?)
Can we just let anything grow organically? people or manipulators like you are the plague which will prove to be the fall of crypto
I had to get out at 0.0039 anyway for non-trading related reasons so if I decide to get back in this works out quite well for me. Sounds like I might have a little bit of time to decide whether or not to get back in. Despite the sell of I'd probably expect to see it bounce back soon as a lot of people who were just taking notice of the recent run up and planning on getting in now have a chance to get in cheaper than they would have anyway. And I doubt this sell off alone would be enough to shake the average person's confidence since as far as I know there is no bad news.
Just a small update on Monero (XMR):
- I had been buying it during the uptrend so that my buying represented about 5% of the total volume.
- It went a little parabolic 2 days ago, but yesterday failed the expectations so the price collapsed.
- I am in a retreat (not Malla this time
) a few days, hardly online.
- Because of a large number of bagholders whose destiny is to buy high and sell cheap, I expect the consolidation to continue a few days also.
- It's important IMO that 0.00365 (2nd fibonacci from 0.00231->0.00581) is not violated, because that would question the legitimacy of the uptrend, and lead to increased selling towards lower lows - something which us whales can prevent (but do we want?)
- I am a long term supporter of Monero, which is a great coin.
- I had been buying it during the uptrend so that my buying represented about 5% of the total volume.
- It went a little parabolic 2 days ago, but yesterday failed the expectations so the price collapsed.
- I am in a retreat (not Malla this time
) a few days, hardly online.- Because of a large number of bagholders whose destiny is to buy high and sell cheap, I expect the consolidation to continue a few days also.
- It's important IMO that 0.00365 (2nd fibonacci from 0.00231->0.00581) is not violated, because that would question the legitimacy of the uptrend, and lead to increased selling towards lower lows - something which us whales can prevent (but do we want?)
- I am a long term supporter of Monero, which is a great coin.
Risto have you ever looked into protoshares - angelshares - bitshares?
Thanks
Thanks
Screw it - I sold them all and bought moar xmr.
Risto have you ever looked into protoshares - angelshares - bitshares?
Thanks
Thanks
We are getting close to the xmr price/difficulty level where spot instances can profitably mine. If that happens a lot of hash can be brought online quickly with nothing but a credit card - perhaps as much as 10 mhps. This dilutes the rest of the miners, so that if the new miners hoard then supply declines, such that price rises. If someone with a lot of confidence were willing to take the risk (and given the degree of support between 45 and 50 the downside risk holding time is probably less than 40 days - they might actually be able to accumulate at a discount with a large enough cloud mine, within a day or two. I won't attempt it, mostly because I am too streched already.
I need to redo some of my numbers in regards to profitability (there are some newer miners appearing that are quicker) but I think with the diff increase and price decrease 0.005+ to 0.004+ it isn't profitable to mine ec2 again. I have some scripts that will fire up more instances quickly if needed but to be honest I dont see it being worth it in the near future from a profitability pov.
Yes its not particuarly easy to buy 8k but if your patient there is. Ive managed to accrue a decent number more in the last few days by just letting people dump. The daily volume is enough so that buying that many could be done without too much slippage. Just gotta hope no whales are trying the same at the same time
We are getting close to the xmr price/difficulty level where spot instances can profitably mine. If that happens a lot of hash can be brought online quickly with nothing but a credit card - perhaps as much as 10 mhps. This dilutes the rest of the miners, so that if the new miners hoard then supply declines, such that price rises. If someone with a lot of confidence were willing to take the risk (and given the degree of support between 45 and 50 the downside risk holding time is probably less than 40 days - they might actually be able to accumulate at a discount with a large enough cloud mine, within a day or two. I won't attempt it, mostly because I am too streched already.
just wondering which miner are you referring to? cause the gpu miners for CN are not that gud. cpu mining is just too painful on spots. What do you mean by painful when using spots? Isn't it just a simple matter of whether it's profitable to spin up as many as you can afford or not?
And still I am confused about the first statement - 10mhs gives you 24 XMR as per the calculator located here:
https://minergate.com/calc
which really might not be a good bet.
Ah. I see what you mean about the process being painful now.
And still I am confused about the first statement - 10mhs gives you 24 XMR as per the calculator located here:
https://minergate.com/calc
which really might not be a good bet.
https://minergate.com/calc
which really might not be a good bet.
Actually about 8000 xmr/diem. 10/28 share of 15.5/minute.
If you ever tried to buy 8000 xmr on an exchange you would understand the attraction of the idea instantly.
If someone were to choose to do this to accumulate and hold XMR instead of buying it then yeah we should see some upward pressure. I see your point.
And still I am confused about the first statement - 10mhs gives you 24 XMR as per the calculator located here:
https://minergate.com/calc
which really might not be a good bet.
https://minergate.com/calc
which really might not be a good bet.
Actually about 8000 xmr/diem. 10/28 share of 15.5/minute.
If you ever tried to buy 8000 xmr on an exchange you would understand the attraction of the idea instantly.
We are getting close to the xmr price/difficulty level where spot instances can profitably mine. If that happens a lot of hash can be brought online quickly with nothing but a credit card - perhaps as much as 10 mhps. This dilutes the rest of the miners, so that if the new miners hoard then supply declines, such that price rises. If someone with a lot of confidence were willing to take the risk (and given the degree of support between 45 and 50 the downside risk holding time is probably less than 40 days - they might actually be able to accumulate at a discount with a large enough cloud mine, within a day or two. I won't attempt it, mostly because I am too streched already.
just wondering which miner are you referring to? cause the gpu miners for CN are not that gud. cpu mining is just too painful on spots. What do you mean by painful when using spots? Isn't it just a simple matter of whether it's profitable to spin up as many as you can afford or not?
And still I am confused about the first statement - 10mhs gives you 24 XMR as per the calculator located here:
https://minergate.com/calc
which really might not be a good bet.
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