Topic: [XMR] Monero - A secure, private, untraceable cryptocurrency - page 1329. (Read 4671575 times)

1,000,000 people play second life.

You're creating a 2d form of second life specifically for crypto currency.  I think your adoption number estimates of 1,000,000 (or even 1/100th of that) is over optimistic.  I think it's a great step in the right direction for crypto - but perhaps a baby one.

Time will tell.

I think this is more focused on the so-called 2.0 coins, which issue "shares/securities". Could get pretty nasty if the SEC gets involved and really wants to crack it down. IIRC NewLiberty had a more detailed post about this, maybe he or others could elaborate more on this. I don't know the specific "rules" of the SEC when issuing shares/securities.

I think Monero has a bit of a PR/marketing handicap currently - on the news sites I'm constantly seeing semi-anon altcoins like DRK and ANON being described as things like "the privacy-centric alternative", whilst XMR which does actually deliver (rather than promise) on the anon/privacy side is never mentioned. I'm not recommending a marketing drive though, until the new official wallet and blockchain db are ready it would potentially have a net negative effect as the technical barrier to entry is high (imagine how many "where's the GUI wallet?" posts a mainstream media piece would result in).

As various people keep saying we have to remember this is till very much the beta phase and one can't pay too much attention to price, as long as the competition don't gain too much traction before XMR reaches RC1 phase. I was worrying about that 2-3 months ago and haven't seen much achieved by the competition in that time, so if the dev team are still on target for early 2015 things should be ok.

It is just math. Multiply the number of players with the average balance of ingame currency:
- Currently ppl have bought in for 180 XMR on average, but it might go down to 5 XMR perhaps when the game has enough players.
- For a simple game like this that actually generates you money in the lower levels, it's easily possible to get 1,000,000 players.
- 5 * 1,000,000 = more XMR than currently in existence.

Serious?

Your judgement is seriously impaired.

Otherwise a nice post.

The rumors of an imminent regulatory crackdown on crypto may have something to do with it. Although I don't expect Monero to be affected one bit (if the rumors even turn out to be true) some other projects could very well be affected, and the market is not necessarily so discriminating.

There is a significant amount of wealth going back into fiat.  People are cashing out altcoin-btc-fiat.  It's not isolated to XMR.  Many people think btc will go down significantly and are getting out for now.  

Ah.  Thank you for that clarification.

What it does is make it impossible for a new user to verify that the chain followed the rules at the beginning. You and I know (or at least we reasonably believe) that there wasn't any funny business in BBR at the beginning because we were around before during and after the trimming, but a new user starting a node has no way to establish that at all other than trusting you and me or someone like us to tell them that we were around and everything is okay.

That is unlike Bitcoin or Monero where you as a new user, on your own, can literally check every single transaction back to the genesis block and don't need to trust anyone to tell you they all followed the rules. I think the issue is somewhat worse with an anonymous coin than Bitcoin because rule violations can be hidden in the anonymity (if someone has a million extra coins, you couldn't see that or prove it). Nevertheless it isn't is devastating flaw or anything, just a somewhat higher level of external trust required than other coins (with the offsetting benefit of a smaller chain).

I'm going to take a stab at this.  This post might convince you I'm not a completely biased shill.

I probably share some views - the fact that the game is being seriously considered as a bolster to the Monero economy makes me cringe.  And many of rpetlia's posts just come at me wrong.  For this reason I've opted out of the MEW even though I have donated to the development team.  Depending on the nature of Cryptokingdom - if it's more than just 2d half life it might be a lot of fun.  But we'll see.  


Here are my reasons.

. Monero is more open to criticism than most other altcoin communities.  (Not a moderated announcement thread, etc).  I still butt heads with the shills but ... as altcoins go.  It's better than the average circlejerk.

. The first non scam cryptonote.  Explaining all of the history might too long winded for me to do here.  But basically cryptonote was a completely new codebase centered around mathematicaly provable anonymity with interesting origins.  The Monero people have had professional mathematicians and developers review the codebase to ensure that it actually is anonymous.  

. The level of having standard anonymity on all transactions in a coin (in my mind) increases the anonymity by as much adoption as the coin has.  Instead of the powers that be being able to narrow down trying to track or trace the 5% of transactions that are anonymous they will have to attack the entire userbase to get any information.  

. Monero is not a pump and dump.  If you look closely at most coins - it's a game.  Get in early, create a restriction on supply (in comparison to the availability of early supply) to force the prices up quickly so early holders can dump fast.  Throw in some features after you've got your early coins to drive demand.

    Darkcoin for instance had a massive insta mine where the first blocks were dumping out tons of coins.  After being released they re-defined the number of coins they were going to release to be much less.  And in addition they created demand for the coin by forcing mixers to have 1,000 coins.  (All done to force the price up relative to the price of obtaining coins in the first 2 - 4 weeks).  

    XC is similar - all of the coins were mined in a 100 day PoW.  After the PoW stage the features that were thought to add value began to be implemented.  This game is all about driving wealth for those who not only get in early.  But have inside information about what direction a coin is going to go (features added, etc) AFTER massive initial supply has gone to the original adopters / insider information people.

    The main reason Monero price is struggling now is because it hasn't done this.  It's releasing like 20,000 coins per day I think?  I would prefer the release schedule of BBR - but BBR was a late adopter (1 month after).

. Monero avoids gimmicks but does focus on future proofing.  

    BBR made the decision to prune ring signatures.  Which if I understand correctly makes it impossible to mathematically prove previous transactions were actually anonymous without the code base (or something along these lines).  I 100% want to figure out how to make the blockchain smaller per transaction - but I feel like being conservative about keeping proof of anonymity is a decision that bodes well for the future of the coin.

    Monero is working on a database to reduce blockchain size that BBR will probably implement.  They are also working on a comprehensive front end.  Rather than quickly finishing they are cleaning up the code base as they go to make future development less expensive.

    Monero didn't get caught in the SuperNET hype.  I could be missing something here - I honestly could.  But the best I can understand the SuperNET is more like an exchange that is built into the wallet that can use another coins features by triggering two trades.  Trade Bitcoindark for BBR -> send BBR to person -> trade back to bitcoindark (someone please correct me if I'm wrong).  Based on what I've read on both the SuperNET and the BlockNET I'm 99% certain they are both gimmicks.  Both require code implementations into a wallet.  It won't bode well for a coin that legitimately has a future - to buy into a gimmick that was created primarily to allow a developer to offload his coin assets to create a demand.

The fact that (from what I can tell) several holders of Monero's are bitcoin whales and were there at the very beginning of the coin means that the price has always been high compared to other coins.  The volume if you shrink coinmarketcap down to Monero's inception reveals that there is a LOT of trading going on compared to other coins over the course of time.

To wrap up - I'm fairly confident that if nothing on the cryptocurrency market changes (there are no significant contenders - which I DO BELIEVE there is room for one to come absolutely dominate the market but it would have to be a work of genius) then Monero is the clear winner in the anonymity PoW race.  I believe the value crypto is strongly tied to psuedo anonymity & perhaps full anonymity when people discover they can have it.

Edit:  In my opinion the two things needed for the darkmarket are coin longevity & volume.  They care less about speculation than stability.  Monero hasn't been around long enough for longevity.  Volume is as good as it is on any other privacy alt - but not near enough.  Speculation or other venues will probably have to grow it significantly before the darkmarket becomes interested (my .02)

Swings as all coins do, currently reaching it's lower margins. Getting in for 19 would be just awesome, but 20 is okay too. Good luck!

Of course it is. It's a game. What part of that is unclear?


Go right ahead and help whoever you want integrate with Monero. This is not a company, it is a community project; you are just as qualified as anyone else to do what you think needs to be done.


What privacy issues?

Thanks mate, you helped me a lot!

Maybe you could try asking it on the #monero channel on IRC.

You'll get a faster response there and it's easier communicating then here on BTCT.

Use this link: http://webchat.freenode.net/ , choose a name and set channel to #monero, additionally you can join #monero-dev (just typ /j #monero-dev when IRC is fired up)

I hope someone can help you.

hey guys,

I have some problems with transactions. Lost today 17 moneros with a transaction from monero wallet (Monero Client v0.31.0) to bittrex wallet account and 25 moneros couple of days ago. In total 42 moneros. I spoke Bittrex but they couldn't help me.

"
I have no idea. Have you made sure you are on the latest version of everything? You'll need to reach out to the XMR community, it's not on the blockchain so there is nothing I can do. I don't have enough experience with the xmR wallet to be of assistance.

Thanks,
"

I just send 5 moneros to bittrex wallet, that worked without problems. It seems that I have problems with transactions 10+ moneros. Can somebody check it/help me out?

No.  It's speculative dumping of one form or another.  Plenty of people have very short time-horizons and little tolerance for low prices.

One reason is that since it got on exchanges, coin was cheaper only once. And there was never not even one trade made for less then 3 times cheaper as it is now.

What i wrote should not be main reason to buy coin. But what i wrote shows it is perfect time to do it.

Interesting things to read:
https://bitcointalksearch.org/topic/m.8477489
https://bitcointalksearch.org/topic/m.8477500

OP provides enough info. Maybe other members can add some arguments to this.

So I'm trying to diversify a little bit, who can talk me into invest in this coin. I don't want to read all the thread.

Disclaimer
I'm posting this same message in other coins, the ones that have my attention

Monero's marketcap is 2.7 million euros, and that is not exactly much. For example I command a larger wealth.

Price is down, true. So it is time to look at the fundamentals. As I see it, the people in the center positions in Monero development and economy (me included) have not lost heart during the price fall. The fall has punished all coins equally, Monero is not a special case, nor an exception.

Why Monero is still the best and only altcoin bet that I have invested in, is because of the following:

- "The legitimate CN coin" despite what trolls say.
- Very large developer base, including the 7 core developers.
- The MEW providing support for economic and service infrastructure side.
- The open question about emission rate change, which has caused uncertainty, will be voted in MEW with result in 2 weeks.
- Crypto Kingdom has XMR as ingame currency and is already valued at 260,000 XMR.
- There will be a "Blockchain.info" type webwallet very soon.

Despite that I see the future as very bright, especially related to other altcoins, Monero will continue to suffer if the general market continues its turmoil. I view the current prices as an opportunity regardless, and have resumed buying.