[XMR] Monero - A secure, private, untraceable cryptocurrency - page 1119.

smooth

legendary

Activity: 2968

Merit: 1198

Quote from: stslimited on February 22, 2015, 08:18:19 PM

Quote from: iCEBREAKER on February 22, 2015, 07:45:02 PM

Sorry to be a wet blanket, but I was looking forward to accumulating CHEAP COINS^tm until at least halving day in Sept.

I fear the crucial initial distribution will be negatively effected by whales propping up the price.

This seems too early. Let's wait until the GUI/DB are Done and half the coins are emitted to start marketing/pumping.

Speaking of marketing, I would like to volunteer my sig space to advertise the best XMR links and features (MyMonero, XMR.to, Poloniex, Monero.cc, [ANN], etc).

I just need an ANSI artist to spiff up the graphics...

Monero doesn't "halve", every single block has less monero than the previous block.

There is still a point when half the base supply has been created and the block subsidy is half the original value. It's similar in effect to the bitcoin halving in many ways except not being so abrupt.

Hueristic

legendary

Activity: 3836

Merit: 4969

Doomed to see the future and unable to prevent it

Quote from: dewdeded on February 22, 2015, 05:20:44 PM

...Once again: To have the best product, is the very, very best marketing.

Actually this is not true at all. It should be, but it is not.

stslimited

hero member

Activity: 546

Merit: 500

Quote from: rpietila on February 22, 2015, 07:55:27 PM

Quote from: smooth on February 22, 2015, 07:48:34 PM

Fact is, if people get interested in this coin or whatever reason the price is too low. PoW coins are hard to pump because miners are always selling, but that assumes certain minimum price. Right now with only 5K USD per day being mined there just isn't a lot of supply for new buyers, and there won't ever be at this price because the emission continues to drop. I think Risto pointed out on the spec thread or maybe it was IRC that the price fixed the emission (not only the XMR/BTC price but the BTC price too). That can't continue if people want in though.

The high point of XMR emission was $100,000 per day (in June).

The low point of XMR emission was $3,000 per day (last Wednesday).

Yes, the emission was totally too high, but that got fixed. When we recover to the public interest level of last June, the price will be 30x higher than now.

30x you say? WELL THEN I'M BUYING, I would like to thank whoever put up that 37 BTC sell wall, I'm eating it up

stslimited

hero member

Activity: 546

Merit: 500

Quote from: iCEBREAKER on February 22, 2015, 07:45:02 PM

Sorry to be a wet blanket, but I was looking forward to accumulating CHEAP COINS^tm until at least halving day in Sept.

I fear the crucial initial distribution will be negatively effected by whales propping up the price.

This seems too early. Let's wait until the GUI/DB are Done and half the coins are emitted to start marketing/pumping.

Speaking of marketing, I would like to volunteer my sig space to advertise the best XMR links and features (MyMonero, XMR.to, Poloniex, Monero.cc, [ANN], etc).

I just need an ANSI artist to spiff up the graphics...

Monero doesn't "halve", every single block has less monero than the previous block.

rpietila

donator

Activity: 1722

Merit: 1036

Quote from: smooth on February 22, 2015, 07:48:34 PM

Fact is, if people get interested in this coin or whatever reason the price is too low. PoW coins are hard to pump because miners are always selling, but that assumes certain minimum price. Right now with only 5K USD per day being mined there just isn't a lot of supply for new buyers, and there won't ever be at this price because the emission continues to drop. I think Risto pointed out on the spec thread or maybe it was IRC that the price fixed the emission (not only the XMR/BTC price but the BTC price too). That can't continue if people want in though.

The high point of XMR emission was $100,000 per day (in June).

The low point of XMR emission was $3,000 per day (last Wednesday).

Yes, the emission was totally too high, but that got fixed. When we recover to the public interest level of last June, the price will be 30x higher than now.

smooth

legendary

Activity: 2968

Merit: 1198

Fact is, if people get interested in this coin or whatever reason the price is too low. PoW coins are hard to pump because miners are always selling, but that assumes certain minimum price. Right now with only 5K USD per day being mined there just isn't a lot of supply for new buyers, and there won't ever be at this price because the emission continues to drop. I think Risto pointed out on the spec thread or maybe it was IRC that the price fixed the emission (not only the XMR/BTC price but the BTC price too). That can't continue if people want in though.

rpietila

donator

Activity: 1722

Merit: 1036

Quote from: stslimited on February 22, 2015, 07:22:38 PM

Quote from: rpietila on February 22, 2015, 06:32:39 PM

So, let this be the official announcement that the price of monero will now start rising.

but really, why? why is this the official announcement? why can't you guys fill 5 btc of asks on Poloniex?

I don't want the price to rise, because I am a buyer. And a front for my clients, who are buying. There was a small bump on Christmastime when the price doubled in a few days. That showed me that buying any larger quantities is anyway impossible. Only the miners are selling.

The announcement is important, because it adds to my glory as a person who can predict market movements, and starts a playful competition about how long the sellers can keep the price down.

If they can keep it down long enough, I am publicly shamed with my wrong prediction, but get to buy cheap coins. If the price instead goes up and stays there, it is a relief for most of the people who answered the poll, and being correct in my prediction eases the pain of needing to pay more. If it shoots up and starts a decline again - well, that's what the coins do. For this reason I urge everyone to sell when it feels toppy.

iCEBREAKER

legendary

Activity: 2156

Merit: 1072

Crypto is the separation of Power and State.

Quote from: ?? on ??

Quote from: rpietila on February 22, 2015, 06:32:39 PM

So, let this be the official announcement that the price of monero will now start rising.

We would hope the rise to be gradual, but it is very difficult to cap once it starts. Not many want to sell their precious stashes below cost. In fiat, we are still at 10-15% the cost of most holders.

Everyone who reads this is asked to keep calm and buy at most a very small amount per day, but instead be very vigilant in selling at the best opportunity. Large holders are entering in, we need them, and they need the coins!

Trolls want to know what I think exactly concerning the timing of the rise. That is however reserved for IRC only.

Sorry to be a wet blanket, but I was looking forward to accumulating CHEAP COINS^tm until at least halving day in Sept.

I fear the crucial initial distribution will be negatively effected by whales propping up the price.

This seems too early. Let's wait until the GUI/DB are Done and half the coins are emitted to start marketing/pumping.

Speaking of marketing, I would like to volunteer my sig space to advertise the best XMR links and features (MyMonero, XMR.to, Poloniex, Monero.cc, [ANN], etc).

I just need an ANSI artist to spiff up the graphics...

smooth

legendary

Activity: 2968

Merit: 1198

Quote from: GreekBitcoin on February 22, 2015, 07:37:42 PM

If price rise brings attention and more adoption it is good. What we need is more adoption. I also think that some nice bounties for services and development would be better.

We still dont have a good open source gpu miner, right?

We do for NV which is slightly more efficient anyway, but not for AMD. That would be a good addition though.

GreekBitcoin

legendary

Activity: 1428

Merit: 1001

getmonero.org

If price rise brings attention and more adoption it is good. What we need is more adoption. I also think that some nice bounties for services and development would be better.

We still dont have a good open source gpu miner, right?

smooth

legendary

Activity: 2968

Merit: 1198

Quote from: 5w00p on February 22, 2015, 07:31:04 PM

Quote from: nakaone on February 22, 2015, 05:36:57 PM

Maybe I am biased against the word marketing in the wrong way but anyway. We do not sell a product here.

We want people to exchange one currency, whether it be Dollar, Euro or BTC against another currency, in this case XMR. We want them to contribute and build a community of enthusiasts and eventually network.

I hope we all agree that, to be a successful project, monero needs to network in an economic sense. Crucial for networking is the number of participants at every stage of development - the more the better.

This is also the part where I slightly disagree with the core developers, who first want to build everything perfect, and the out of magic want to network - I see their arguments, but I think they are at least partially fallacies.

To be successful we need to network as much as possible as every point of development. I think this is probably the most crucial point in cryptocurrencies.

The strategy to have ~100-500 bagholders, who then out of the magic can sell their coins to latecomers will not work that well.

Developers develop. Let them develop the core of Monero how they want to.

Let the Community develop what it does. We ARE the Community. So, let's continue to develop the Monero Community.

I asked before: What do we want to do?

Yes I agree. The core team has no unique position when it comes to networking and reaching out to new community members. Yes we do things like answer questions from newcomers, maintain the subreddit, media interviews, etc. but most of the ground work of talking to people about why they should care about Monero and building that viral growth of more and more supporters will be done by community members on the ground.

5w00p

hero member

Activity: 644

Merit: 502

Quote from: nakaone on February 22, 2015, 05:36:57 PM

Maybe I am biased against the word marketing in the wrong way but anyway. We do not sell a product here.

We want people to exchange one currency, whether it be Dollar, Euro or BTC against another currency, in this case XMR. We want them to contribute and build a community of enthusiasts and eventually network.

I hope we all agree that, to be a successful project, monero needs to network in an economic sense. Crucial for networking is the number of participants at every stage of development - the more the better.

This is also the part where I slightly disagree with the core developers, who first want to build everything perfect, and the out of magic want to network - I see their arguments, but I think they are at least partially fallacies.

To be successful we need to network as much as possible as every point of development. I think this is probably the most crucial point in cryptocurrencies.

The strategy to have ~100-500 bagholders, who then out of the magic can sell their coins to latecomers will not work that well.

Developers develop. Let them develop the core of Monero how they want to.

Let the Community develop what it does. We ARE the Community. So, let's continue to develop the Monero Community.

I asked before: What do we want to do?

stslimited

hero member

Activity: 546

Merit: 500

Quote from: rpietila on February 22, 2015, 06:32:39 PM

So, let this be the official announcement that the price of monero will now start rising.

but really, why? why is this the official announcement? why can't you guys fill 5 btc of asks on Poloniex?

rpietila

donator

Activity: 1722

Merit: 1036

Quote from: stslimited on February 22, 2015, 06:59:25 PM

rptelia's 100k is nice, but I am still forming a syndicate bid, PM me if interested

I am also involved in a new OTC venture. Let's see if we can have aggregation of the OTC to some usable platform that supports fiat as well...

rfcdejong

hero member

Activity: 798

Merit: 500

Quote from: rpietila on February 22, 2015, 06:32:39 PM

So, let this be the official announcement that the price of monero will now start rising.

We would hope the rise to be gradual, but it is very difficult to cap once it starts. Not many want to sell their precious stashes below cost. In fiat, we are still at 10-15% the cost of most holders.

Everyone who reads this is asked to keep calm and buy at most a very small amount per day, but instead be very vigilant in selling at the best opportunity. Large holders are entering in, we need them, and they need the coins!

Trolls want to know what I think exactly concerning the timing of the rise. That is however reserved for IRC only.

I'm still accumulating for the past monts...

stslimited

hero member

Activity: 546

Merit: 500

rptelia's 100k is nice, but I am still forming a syndicate bid, PM me if interested

generalizethis

legendary

Activity: 1750

Merit: 1036

Facts are more efficient than fud

Quote from: rpietila on February 22, 2015, 06:32:39 PM

So, let this be the official announcement that the price of monero will now start rising.

We would hope the rise to be gradual, but it is very difficult to cap once it starts. Not many want to sell their precious stashes below cost. In fiat, we are still at 10-15% the cost of most holders.

Everyone who reads this is asked to keep calm and buy at most a very small amount per day, but instead be very vigilant in selling at the best opportunity. Large holders are entering in, we need them, and they need the coins!

Trolls want to know what I think exactly concerning the timing of the rise. That is however reserved for IRC only.

This is turning into one hell of a week.

nakaone

hero member

Activity: 742

Merit: 500

Quote from: ?? on ??

Quote from: rpietila on February 22, 2015, 06:32:39 PM

So, let this be the official announcement that the price of monero will now start rising.

We would hope the rise to be gradual, but it is very difficult to cap once it starts. Not many want to sell their precious stashes below cost. In fiat, we are still at 10-15% the cost of most holders.

Everyone who reads this is asked to keep calm and buy at most a very small amount per day, but instead be very vigilant in selling at the best opportunity. Large holders are entering in, we need them, and they need the coins!

Trolls want to know what I think exactly concerning the timing of the rise. That is however reserved for IRC only.

what would help more than pumping - that is what it basically is, is to make sure that it does not drop significantly - but anyway it is your business

rpietila

donator

Activity: 1722

Merit: 1036

So, let this be the official announcement that the price of monero will now start rising.

We would hope the rise to be gradual, but it is very difficult to cap once it starts. Not many want to sell their precious stashes below cost. In fiat, we are still at 10-15% the cost of most holders.

Everyone who reads this is asked to keep calm and buy at most a very small amount per day, but instead be very vigilant in selling at the best opportunity. Large holders are entering in, we need them, and they need the coins!

Trolls want to know what I think exactly concerning the timing of the rise. That is however reserved for IRC only.

smooth

legendary

Activity: 2968

Merit: 1198

Quote from: Johnny Mnemonic on February 22, 2015, 06:14:12 PM

Also, regarding the GUI, I think it's much less important now than it was 6 or 8 months ago. Beyond a certain point of development, far more people will use third party services that fit their needs more appropriately than those who will rely on the official client running a full node.

That, and people will pick their own favorite wallet anyway. Bitcoin has Electrum, Multibit, blockchain.info, etc. We have Lightwallet, .NET wallet, MyMonero, and maybe some others I'm forgetting.

Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency - page 1119. (Read 4670673 times)