Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency - page 1303. (Read 4671575 times)

Have a look here:

Darkcoin gets a free promotion at ibtimes.co.uk.. however, in the comments below the article Monero is mentioned (and bashed).

http://www.ibtimes.co.uk/darkcoin-perfect-e-cash-cryptocurrency-emerging-dark-web-trump-bitcoin-1472144

There are two cases here:

1. The exchange (or other party) knows your identity. In this case it doesn't matter if you use an address that publicly identifies you, as the exchange records include your identity already.

2. The exchange records do not include your identity and you don't want the exchange or anyone with access to the exchange's records to find out your identity. In this case, yes, you should not use the same address is associated with you (either publicly or in the records of some other party whose records might also become available).

I suspect that #2 in the case of centralized exchanges will become increasingly rare and perhaps non-existant, but is worth keeping in mind. And it is definitely valid for other non-exchange parties you may deal with.

No, due to lack of a next Bitcoin bubble.
Face it, Bitcoin is Altcoin Pump in slow motion, currently on the decline. Joe Average no more mines BTC, nor buys them to the moon.

Not richt, but not fat either! ♪ ♪♩ ♩♩♬ Always look on the bright side of live ♬♪ ♪♩♩♩

1000% agree with your political assessment.

There is more than one kind of Republican; the party is a three-legged stool.

The pro-business types are traditionally equated with fiscal conservatives, but have been deeply corrupted by crony capitalism despite most small enterprise owners still being honest.

The social conservatives are usually financially responsible unless they want to go to war against the enemies of Jesus, but they've Had Enough neocon foreign adventures for a while.  Having Johnny Biblethumper come home in a coffin with nothing to show for his sacrifice tends to do that.

The libertarians are by definition rock-ribbed beast-starvers; that wing of the party is now ascendent thanks to Ron/Rand Paul and their TEA (Taxed Enough Already) Party.

Given the disaster of Krugman's Obomanomics, many non-partisan voters now wish Romney and Ryan had been in charge for the last couple of years.

So we can hope for and reasonably expect the new Senate to reign in the crazy ZIRP/NIRP QE-Nth debt-monetization plunge-protection-team money printing crowd.

That (relative) austerity will tamp down the irrational exuberance of the stock market, and we may see money flowing back into hard assets like gold, BTC, and XMR.

that's why we need an anonymous escrow service in the image of localbitcoins

I agree ... obama's bailouts were just a continuation of what Bush started.  

But this administration is beyond the pale.  I get frowned at because I hate both parties for good reason.  But I've never seen something so beyond any sense of practicality.  If something "shouldn't be that way" then it isn't.  Political correctness has made facts or situations outright denied.  From Healthcare Reform, to the handling of Ebola, to Bengahzi.

The amount of money being spent that we don't have on problems that we just don't want to exist and we can't practically fix but tell ourselves we can because is mind boggling.  People need to start looking at money as a form of energy or life.  In my lifetime I'll spend 1/3 of it earning a wage.  The government takes over 1/3 of that - so about 1/9th of my life is the governments.  That means they kill off one in nine people for taxes.  They should operate in that reality.

I don't have a problem with socialism, democracy, republic, libertarianism or anarchy.  If handled in a practical manner with some ethics any of those governments have worked during different periods of history.  But the current administration and political leaning of the US is so out of touch with anything remotely resembling reality ...

If you buy your XMR on a centralized exchange, though, and the exchange keeps records of your withdrawals to that address, it could be linked back to your personal information if the exchange's records are ever disclosed.

Because Republicans have a great track record of fiscal responsibility? I think not. (More) divided government may have that effect though.

I missed you iCEBREAKER. Your posts are always thoughtful and stimulating.

Your .02 contains some good food for thought.

First, please note the people who "think monero will go 1000x in the future" don't agree a timeframe, so there is no "get rich quick" consensus or expectation.  IMO, XMR will follow a similar, although accelerated, growth path to BTC.

Crypto is certainly in a bloodbath, but that may be a healthy pullback and consolidation needed for future gains.

I'm hloding my XMR because I expect to see a flight to quality privacy coins, in which XMR dominates as best-of-breed.

BTC is collapsing because of external risk created by the SEC and other coercive JBT TLAs, plus the self-inflicted FUD wounds of sidechain drama.  These factors work in XMR's favor, or will in the future as XMR emerges as a mature/stable/legitimate platform.

The hubris of XCP and Overstock announcing they intend to make obsolete TPTB cannot be overstated.  PB of all people should understand the concept of deep capture, and know the SEC will attack whoever Wall Street sics them on like a well-trained German Shepard.

I agree the economics of XMR are broken, but they are 100% fixable at this early stage.  Tail-end emission is still TBD, and transaction fees may be increased to levels appropriate for ensuring POW network security.  Another issue is the free ride we currently enjoy at the expense of the altruistic devs and donors.

$100,000,000 is far too conservative an estimate for XMR's potential, as I give it even odds of exceeding BTC in the next 5-6 years.

Money is fleeing into fiat for the moment, but we all know that can't last forever.

The Greenspan Put and Obamanomics' crony capitalism have utterly failed, as even Krugman (AKA Captian Kool-aid) now admits.

When Republicans take over the Senate, we may be in for austerity as painful as a heroin addict experiences in withdrawal (complete with dead babies crawling on the ceiling nightmare hallucinations, etc.)

The smart money and big money started smelling smoke months ago, and are trying to make their way towards the exits unnoticed.

When the stampede starts and markets collapse, it will be crypto's (and especially XMR's) turn to shine again.

True, but can't the same be said for Bitcoin, albeit on a higher scale? Bitcoin's price couldn't be sustained at $1200, or $600, so it's down to $300. Since cryptocurrencies aren't really legitimized or very widely used yet, there will always be drastic fluctuations in price. I overall agree though, that's where I believe marketing plays a role, in advertising your altcoin to the people most likely to use it; Anonymous altcoins to Private Companies, Markets, etc. Monero hasn't even begun advertising itself(it's still doing ok without having done so) to the sectors that would benefit most from it. I view altcoins(good ones) as potential competitors to Bitcoin if they can fill certain niches. Anonymity(Legal and otherwise) is a big niche and Cryptonote's(Monero) Ring Sig based anon is pretty good, along with the fact that you can send regular transactions as well. I believe it would appeal to those who want the option to be public or private at their choosing(Pretty much everyone).

pt 1.

no offense but I think we need to get rid of the get rich quick scheme idea.

i like monero for the simple fact that it's actually appears to be anonymous, fair and has developers.  if you read up some on bitcoin - the analytics for both tracking down who owns bitcoin AND where a bitcoin has been are improving at a faster rate than bitcoin adoption.  expect this to continue.  Add in the fact that the bitcoin bullies (btc foundation, main dev & biggest pools) are all MORE than happy to co-operate/be fine with the centralized applications (circle, coinbase, etc) enforcing government rules and you wind up with two problems.

1. bitcoin is too transparent and governments that are actually oppressive (since people can't mine it anymore & have to buy it thru a centralized service) can come very close to regulating, banning or worse use it for a tracking mechanism.

2. since bitcoins can be tracked - they can be flagged as evil and rejected by centralized services as no good.  Or stolen ones could technically be forced to be returned from the people they got stolen from.  and it's totally possible to prove that.

essentially these things add friction back into the currency that shouldn't be there (in my personal opinion) for the type of adoption we are aiming at (taking power away from the political powers that control money supply and giving it to the protocol).

pt 2. 

as the earlier poster mentioned crypto is in a bloodbath.  But I don't think we've seen ANYTHING yet.  there are too many libertarians who've bet the farm on it, too many rich kids, too many scammers ... this place is still thriving on hope that bitcoin will go to 100K per coin. 

many of the people prediction a 1,000X price jump also predicted that bitcoin would go to $100,000.  making predictions is this place is a fools errand IMO.  so probably those the most educated to do so won't be shouting their opinions from the rooftops.  But rather the pumpers who want you to buy all you can afford and back the truck up on the credit card are the ones making the bold prediction.  Because your investment makes them rich.

pt 3. 

the economics of both bitcoin and monero are broken.  they just are.  the shrinking monetary supply is structured close to (not quite) a pyramid scheme.  having the difficulty level go up proportionately to adoption is PLENTY to make early adopters rich.  tokens get proportionately more expensive as the difficulty of getting them gets harder (both of these factors are driven by adoption).  but for whatever reason the gold bugs decided to dump out tons of coins early and just a few late. 

this makes it impossible for even MINOR adoption to happen without early adopters getting rich.  this also adds to the friction of adoption.  in addition to this at the current rate of adoption there is no way miner fees will pay for a secure network.  imagine this.

even if the monero network was worth 100,000,000 bucks.  and 90% of the coins are mined so the miners are competing for like 200 coins a day that are worth a grand spanking total of $1,200 ($6 bucks a coin @ the 100,000,000 market cap w 16.2 mil coins) plus say double that in transactions.  That isn't going to pay for a whole hell of a lot of security.

the fundamental reason it's broken is that the reward (in tokens) goes down over time as adoption goes UP.  the system will almost certainly cave in on itself if it doesn't adopt PoS or remove the hard coin cap limit.

Pt 4.

in my opinion there is a time horizon of several years between now and the point that people figure out this just isn't going to work.  And the ability to transfer money almost instantly with no government tracking with it being recording in the blockchain is a massively cool thing.  It could usher in a whole new era of economics in every thing from drug trade to wealth needing to flee countries with totalitarian rule.

at some point soon as the government cracks down on money (my understanding is the US govt has a backup of all bank transactions after 9/11) the solution to being able to do money outside the government is huge.  And IMO monero is the best solution right now for this problem.  it's more scalable than what they're trying to do with zerocash.  it's more provable than darkcoin (and much less of a scam).

it's open sourced and the devs are known.  so it could be a huge huge awesome deal. 

but don't kid yourself.  money is fleeing the market.  it's built on bad economics.  and if you're just in this to get rich your time horizon probably will be off.

decide why you're buying it.  what will trigger you to sell it (price change? or another quality competitor?).  decide how much you're going to put in it then wait.

DON'T do math on "how much money will i make if it goes to $10?  how much if it goes to $100?"  buy it for a reason.  sell it for a reason.  don't be nieve.



just my .02

I agree that altcoins have a much easier time going up than bitcoin.  The problem is that they can go down much faster as well.  There is nothing to sustain an altcoin pump other than speculation bringing in new money.  Bitcoin has a working infrastructure in place that allows for actual transaction being made between actual customers and vendors.  When an altcoin rises in value it's much harder to sustain because in the end you can't really do anything meaningful with it. 

I believe this has to do with more Bitcoin regulation= Some investors getting out(It might have the opposite effect in the future if regulation "legitimizes" BTC in the eyes of the public). While no one can be certain of Bitcoin's (immediate) future. It still stands that altcoins can go up in price much, much easier than Bitcoin can at this point in time.

basicaly a wrapper for simplewallet, but doesnt need the blockchain deamon running

Cryptocurrency is in the middle of a bloodbath.   Crypto wealth is fleeing to the safety of fiat.  Talking about a coin going up 100X seems out of place right now.  I'm starting to think that bitcoin has found it's spot.  I don't think it will go much lower but I also think there's a good possibility it won't see levels above 500 anytime soon if ever again.  Monero is positioned as good or better than many coins.  But that means nothing if money keeps flowing out of crypto. 

As for Monero or any other coin increasing in value 100X.  It isn't going to happen anytime soon so don't get your hopes up.  People need to be realistic and realize that things could get much worse than they are now.  I'm not making any predictions just keeping my eyes open and avoiding getting distracted by fluff.

if it networks a price of around 5-20 xmr per btc is reasonable.

we all do not know what the future brings in dollar terms - what we probably know is that there is a) a niche for this coin and b) there is no real competitor at this point of time. I personally think that a) does not change regarding b) I asumme it will be a fight of two networks, monero has a first mover advantage.

1000x given current prices would put XMR above BTC. That is extremely speculative.

Of course if BTC goes up a lot, then XMR can go up a lot too, with or without a big price increase relative to BTC (more likely with).

several people have stated they think monero will go 1000x in the future. you can read aminorex's posts for some insight.

Before the next btc bubble Monero will be usable by my fellow drooling masses.

Is btc going to explode 100x?  lol  This May I heard btc was going to be 5k in July.

I've given up dreams of being rich.  My dinner tonight is a peanut butter and jam sandwich.  Though it will contain fine French raspberry jam.