Author

Topic: rpietila Altcoin Observer - page 213. (Read 387493 times)

full member
Activity: 227
Merit: 100
June 27, 2014, 09:56:33 AM
Thank you, that is relieving. I am aware of possible security threats, but current lack of gui for Monero and instructions like "update your wallet exactly like this or lose your coins" seem downright nightmarish to me. Again, thank you.

exactly the kind of post that proves the gui wallet will bring hoardes of new xmr investors.  Smiley good news is coming.
legendary
Activity: 981
Merit: 1005
No maps for these territories
June 27, 2014, 08:51:59 AM
By the way, monero flashcrash to .038 and rapid recover in a downtrend, to me it smels like the calm before the storm.
hero member
Activity: 574
Merit: 506
June 27, 2014, 08:50:48 AM
Thank you, that is relieving. I am aware of possible security threats, but current lack of gui for Monero and instructions like "update your wallet exactly like this or lose your coins" seem downright nightmarish to me. Again, thank you.
legendary
Activity: 981
Merit: 1005
No maps for these territories
June 27, 2014, 08:47:06 AM
Even better you can move 1/3 of your your moneros to mintpal and other 1/3 to cryptsy, so the probability of getting goxxed get lowered as well, (and let you play some arb, in case of) which is exactly what Im doing since the GUI wallet arrives
full member
Activity: 227
Merit: 100
June 27, 2014, 08:44:34 AM
I apologize in advance for noobish question, but it is possible to buy Monero on poloniex without bothering with source software of XMR (frankly, tutorials seem like moonspeak to me)? I am not interested in mining or cold storage. First time poloniex user.

Thank you all for answer.

if you do keep XMR on poloniex then make sure you have very strong password and USE 2FA without fail!

but poloniex are pretty safe exchange - they were hacked a while back but Busoni repaid all stolen funds.
legendary
Activity: 1176
Merit: 1015
June 27, 2014, 07:31:19 AM
I apologize in advance for noobish question, but it is possible to buy Monero on poloniex without bothering with source software of XMR (frankly, tutorials seem like moonspeak to me)? I am not interested in mining or cold storage. First time poloniex user.

Thank you all for answer.

Yes, you can buy any coin on an exchange and leave it on the exchange. It isn't advised in case the exchange gets hacked, but nothing stops you from doing this.
hero member
Activity: 574
Merit: 506
June 27, 2014, 07:29:27 AM
I apologize in advance for noobish question, but it is possible to buy Monero on poloniex without bothering with source software of XMR (frankly, tutorials seem like moonspeak to me)? I am not interested in mining or cold storage. First time poloniex user.

Thank you all for answer.
legendary
Activity: 3766
Merit: 5146
Whimsical Pants
June 27, 2014, 04:06:41 AM

Ignore DARKOTA he is a troll who PUMPS and DUMPS

Your crossposted repeato-spam begins to reek of buthurtedness and is actually beginning to have the effect of making me trust darkota more even after he called me an idiot for pointing out we had probably seen the majority of the mintpal impact priced in before it made the exchange. Wink

I have just ignored you.
legendary
Activity: 1596
Merit: 1030
Sine secretum non libertas
June 27, 2014, 03:51:07 AM
Bid sum is rising nicely now.  Shouldn't be much more before the turn.
hero member
Activity: 723
Merit: 503
June 27, 2014, 03:49:03 AM
Am I right in thinking that every time Monero goes lower than what we expect. It'll encourage the price to go even lower?

That's momentum and overshoot for you.  It is a great day for buying xmr.  I can assure you that they will not be buying back my monero at a discount. Only foolish losers ( and forced sellers ) would sell a single xmr at these levels.  Bagholding failed pump&dumpers.

I'm just curious who does sell at these levels. It must be botnets right? The difficulty is too high for people to sell at this level.

It's the end of the month. People who have costs and are dependent of their mining revenue are selling. Same thing happened last month. Last time we went to 8 mBTC was 1 month ago. We hit 2 mBTC afterwards. Maybe we'll hit 2 mBTC too, who knows ? But good news are coming. We're nearly at the end of the given time for the GUI bounty. I think everything could turn around really fast.

I'll keep buying anyway...
legendary
Activity: 1260
Merit: 1000
June 27, 2014, 03:46:50 AM
Anybody read this post about Darkcoin before?  Yea, we all know it was instamined/premined, but the amount of detail this guy put into his Darkcoin instamine analysis and the amount of coins that went to so few people is mind boggling.  It really does look like it was done at a level rivaling that of scamcoins like Stackcoin.

https://bitcointalksearch.org/topic/m.7541076
legendary
Activity: 1596
Merit: 1030
Sine secretum non libertas
June 27, 2014, 03:46:09 AM
People mine at widely varying costs. If you hardware plant is paid for and your electric is cheap or free there is little reason not to dump.   The marginal supply only sets a floor after cheap hot coins have burned off.  But rising difficulty should take care of it in a few days regardless.

Also some short term traders who bought at the plx lows about .002 but missed the highs will be selling - mostly those who trade alts with no regard for quality or fundamentals.  Eventially they run out.

The deeper and longer this goes, the more emphatic and impulsive the subsequent rise will be.  I am hoping the rise is slower and steadier on the next pass.  Probably I will sell some when it passes .0012 in an attempt to mitigate any spike.
legendary
Activity: 1176
Merit: 1015
June 27, 2014, 03:33:17 AM
Am I right in thinking that every time Monero goes lower than what we expect. It'll encourage the price to go even lower?

That's momentum and overshoot for you.  It is a great day for buying xmr.  I can assure you that they will not be buying back my monero at a discount. Only foolish losers ( and forced sellers ) would sell a single xmr at these levels.  Bagholding failed pump&dumpers.

I'm just curious who does sell at these levels. It must be botnets right? The difficulty is too high for people to sell at this level.
legendary
Activity: 1596
Merit: 1030
Sine secretum non libertas
June 27, 2014, 03:30:31 AM
Am I right in thinking that every time Monero goes lower than what we expect. It'll encourage the price to go even lower?

That's momentum and overshoot for you.  It is a great day for buying xmr.  I can assure you that they will not be buying back my monero at a discount. Only foolish losers ( and forced sellers ) would sell a single xmr at these levels.  Bagholding failed pump&dumpers.
legendary
Activity: 1596
Merit: 1030
Sine secretum non libertas
June 27, 2014, 03:09:07 AM
Ignore DARKOTA

You have been stalking darkota and spamming your reprehensible, slanderous dreck over every thread for too long.

I will say no more only because your outrageous trolling would cause me to exceed the bounds of decency.
legendary
Activity: 1596
Merit: 1030
Sine secretum non libertas
June 27, 2014, 03:03:14 AM
If Monero loses because of the marketing hype of Boolberry, I will get out of all CryptoNote and back into Bitcoin as it would be proof a CryptoNote coin cannot be a store of value. I will not have my wealth held hostage to the pump and dump of the alt coin world.

I see no reason to think that boolberry can remove monero from its leadership.  it might exceed monero in market value, conceivably, for a while, but do you seriously think any significant wealth will be stored as boolberries?  the big prize is monero's to lose.  short term price fluctuations won't change that.  attorneys won't be making private settlements in boolberries. corporations won't be making international payments in boolberries. african despots won't be buying retirement villas with boolberries. generational wealth transfers won't consist of private keys to boolberries. even remittance income...not boolberry territory.

does boolberry have a plan for ip anonymization?
sr. member
Activity: 334
Merit: 250
June 27, 2014, 02:58:30 AM
Dark = market leader

Indisputibly so.  I consider dark to be shady, however.  I sold out of drk and moved to xmr for three primary reasons: (1) CN protocol allows me to actually control the size of my anonymity set, and I have confidence that the set will hold; not so drk.  (2) P&D/premine/ponzi factors are beyond my tolerance level in drk.  (3) Snake oil crypto claims raise my hackles.  I'm just not going to trust my life and treasure to drk' s protocols.  Great coin if you love forks, however.

I don't think anyone advocates xmr more strongly than I do.  I am taking my own medicine, and I don't want anyone else to get sick either.  It definitely benefits me if others adopt XMR, but I strongly believe that it will benefit them as well, as long as they don't own more than they can hold in strong hands.  

It isn't the leading coin with privacy claims, in terms of market cap.  It isn't the first cryptonote protocol coin.  It isn't the most user friendly coin by a nautical mile.  But it does have a balance of factors which convince me that it is the leading candidate to supply the net with private liquidity for years to come.  In areas where it is weak, it is good enough, and improving.  In areas where it is strong, it is distinguished from its competitors by the honesty and frankness of its development team, it's open-source ethos, its fair launch, its methodical, un-hyped progress, in a well-planned and prioritized process, and the size and growth of its hashing infrastructure.

I really do think that slow and steady can win this race.  It's already good enough for technically aware people to use, and it won't take long for it to be good enough for anyone who is comfortable with bitcoin today to use it.  How long it will take before it is suitable for mainstream use, I dare not venture -- years, I would say, since that is a very high bar of usability (think iPod).  But it has all it needs now to get there in due time.

Personally, I'm invested, to some degree or the other, in the whole anonymous market - so I don't have to worry so much about who wins and who doesn't. I'm well hedged so to speak.

There are fundamentals in place that I have analyzed in the DRK thread, with great precision - as to how the situation would evolve in terms of marketcaps and other anon coins that would join the party after DRK... That was ~4 months ago. The context of the discussion was about the need for marketing and promotion of DRK, where I said that the fundamentals of explosive growth in new markets will take care of everything - so no real need for promo/hype/spamming etc.

Quote
The general crypto boom is over. Those who saw 8000%+ profits from BTC in < 2 years were the lucky few. Who we be the Levi Strauss of the crypto era - a man who started a small business selling new-fanged denim jeans to the gold miners back in '49. Perhaps you've heard Levi's?

I think cryptos in general have a lot of potential. I mean most people don't even know what Bitcoin is, let alone altcoins. And, if you factor in that around three quarters of the planet live in countries with high inflation rate (not EUR, GBP, USD etc - which of course are inflated too but to a lesser degree), cryptos could be a nice alternative to the national currency - and much more convenient than gold for trade purposes.

Quote
DRK looks interesting enough, but whether or not it shoots up and outrageous amount to $20, or even $100 by next year is largely irrelevant,

Darkcoin is providing a second option vs the monopoly of transparency in which other coins are in. This means that if someone wants their crypto deposits / crypto transactions to be more private they'll have to move over to DRK. The transparent market is at 100% right now while the more-private market is at near 0%. In terms of "market growth potential" what will happen should be pretty easy to figure out.

With a market cap of ~8bn (BTC+other alts) to 3mn (DARKcoin), the prospect of capital flowing toward the DRK side is "significant". Even if one per cent of the "transparent" market moves to the more private market, we're talking about 80mn USD boost that is there to share for DRK or other anon coins which may follow - and they will not be necessarily mutually exclusive (one could practice transferring money through 2-3 anon coins, implementing different solutions, for extra safety / privacy). Needless to say what may happen if tax authorities start to crack down on BTC. The "just 1%" may suddenly become several % - with a corresponding boost in value of the private coins.

I mean, from a market perspective, and with such prospects being there, even if the anon market is shared by 2-3-5 different coins in the long run, this is a 9-digit to 10-digit market (xxx millions to billions) that they will share between them. Current market cap of a few million USD may seem like a joke by then. With such fundamentals, who needs hype, or pump and dumps?

The same applies today. The market cap of anon coins is nearly identical with my prediction, and it is dominated by DRK (>50%), Bytecoin & clones and Bitcoin-based pumps & dumps or coins that are ...trying. I also predict this 1% will gradually be extended towards the 10% mark - but that will be slower in comparison to the 1% (that should be obvious).

The only piece of the puzzle left, to diversify into, are zero-proof coins - which can come in and claim superiority against mixing practices in Bitcoin & Bytecoin.

I do have some ANCs from the times when DRK and ANC were the only anon coins in existence (zerocash wasn't an option back then), so my hedge of DRK was ANC by necessity. ANC has been very low in price (given the coins in circulation) and has promised zerocash integration in early July... if that hedge also manages to blow up in price, well, ...I'll be damned... Grin

It's funny how you support a coin(Darkcoin) with a 50% instamine by the developers at launch..they didn't even bother making a new coin when they could of to get rid of the instamine because they hold most of that instamine themselves...Plus its masternodes are something that could always be compromised. Most masternodes are hosted on Amazon servers, and they can all be taken down, by DDOS attacks etc etc, thereby abolishing Darkcoin's "anonymity". Not to mention, Darkcoins anonymity stems from coinjoin, which itself is hardly anonymous, see here: http://www.coinjoinsudoku.com/advisory/

Don't get me wrong, I myself own 210 darkcoin(the most of any crypto I have), but I value it as a pump and dump only, as do most holding Darkcoin right now....it's 50% instamine and coinjoin anonymity based on human backed masternodes is just stupid....no other way to say it.

Even Zerocash's huge trust issue is a better anonymity alternative than Darkcoin.

Ignore DARKOTA he is a troll who PUMPS and DUMPS - Look at his original thread here:

https://bitcointalk.org/index.php?topic=658541.100

Then look here:

 https://bitcointa.lk/threads/litecoin-is-officially-dead.331214/page-5

Troll on indeed:

http://coinmap.org/
www.uselitecoin.com

This thread is starting to show the true TROLL: I have been PM'ing everyone in this thread, some have even joined the Litecoin Talk forum because of this troll so i actually think its ok his lies - everyone is being PM'd this:

'Litecoin is dead'

Look at the original thread - he has deleted more than 40 posts from people supporting Litecoin, he is a troll who pumps and dumps
legendary
Activity: 1708
Merit: 1049
June 27, 2014, 02:50:27 AM
Unfortunately this is the internet, and there are armies of trolls hiding behind computer screens saying garbage..don't bother listening to them....trust me I'm a troll myself  on these forums....

...so given your admission you can rest assured I'm not getting you the "wrong" way.
legendary
Activity: 1596
Merit: 1030
Sine secretum non libertas
June 27, 2014, 02:43:31 AM
Bummed at the tirade, especially #3  Sad Would you be able to give some examples of that?

darkota covered it: masternodes and coinjoin. I see them as obfuscation misleading investors, not as meaningful security against the inevitable deanonymizing attack by a nation-state. certainly not something to which I can entrust the well-being of my family. it is probably fine for buying blacklisted herbs in liberal states, but that is not the brass ring.

with cn I am relying on a peer-reviewed implementation of a protocol with provable known characteristics.  spectral network analysis is its weakest point, and provides very little information if the coin is used properly.  it needs improvement but the path is clear (larger anonymity sets and i2p) and the infrastructure is being built even now. at that point it can serve the needs of serious customers.  even without, it already serves as a hedge on fungibility issues in transparent chains.

legendary
Activity: 1176
Merit: 1015
June 27, 2014, 02:39:55 AM
Am I right in thinking that every time Monero goes lower than what we expect. It'll encourage the price to go even lower?

The way I see it. Many people called a bottom of about 0.005 to 0.006. However now we're close to 0.003 - 0.004. People might start selling off because they are losing confidence that even people in this thread cannot predict the price.

I wouldn't be surprised if we hit the 0.002's again. Until the development branch incorporates a GUI it'll look like to the average investor that Boolberry is in fact gaining ground. I am certain Boolberry isn't gaining ground, the Monero team are working on what's important, but the average user or investor does not see this.

Most people are only interested in fluff. Hense Hal Finney's fears about a clone coin overtaking without being valid enough to warrent a takeover. Only coins with an order of magnitude leap in technology really warrant having an existance at all let alone overtaking a market leader.

I have great faith in Monero. If another Cryptonote coin takes over it'll be a realization of Half Finney's fears. Because the clone coins are not innovative enough to warrent a take over. My stand is simple; If Monero loses because of the marketing hype of Boolberry, I will get out of all CryptoNote and back into Bitcoin as it would be proof a CryptoNote coin cannot be a store of value. I will not have my wealth held hostage to the pump and dump of the alt coin world. I only invested in Monero because I saw it as being a true second coin to Bitcoin. Apart from Monero I have never dealt with alts. Even though I invested before rpeitila ever mentioned Monero I completely agree with his rational for investing.

Boolberry's slight modifications do not warrant destruction of a market leader. This is the same argument the Litecoin supporters came up with. The litecoin supporters said that Litecoin deserves to overtake Bitcoin because of the 4 times speed gain.

They didn't consider the disastrous precedent that would set. Because then the next coin to offer a slight improvement would have its argument that they should now overtake the market leader. This was the crux of Half Finney's argument. Only a coin overwhelming better should overtake Bitcoin. If anything less were to take over all confidence in crypto being a store of value would forever be lost.

Sorry for any spelling or grammar mistakes I wrote this on my phone. :p
Jump to: