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Topic: [XMR] Monero Speculation - page 1175. (Read 3314330 times)

legendary
Activity: 2492
Merit: 1491
LEALANA Bitcoin Grim Reaper
August 26, 2016, 10:00:52 PM
Where do we need to draw the lines now for Aminorex's marketmaking?

I'd like

1.  a BitSquare.io node
2.  a market-making bot to (safely/dispassionately) manage a few 1000 XMR worth of buys and sells on the BitSquare

I believe that's the path towards fixing the potential single point of failure Polo dependency.

I certainly hope that the catalyst to get us to such a point will not be a huge theft/hack at polo.
legendary
Activity: 2492
Merit: 1491
LEALANA Bitcoin Grim Reaper
August 26, 2016, 09:57:29 PM
triangle will break up or down. We'll see what direction

hero member
Activity: 798
Merit: 1000
21 million. I want them all.
August 26, 2016, 08:58:09 PM
XMR would tend to become associated with high-reputation vendors

Does this contain the implicit assumption that sellers who ask for XMR will tend to be more virtuous, more professional sellers?
If the low-reputation vendors require multi-sig, which precludes XMR, then all XMR vendors will be high-reputation vendors.   Its an implication rather than an assumption.

I see now. That's right.
legendary
Activity: 3570
Merit: 1959
August 26, 2016, 08:56:03 PM
XMR would tend to become associated with high-reputation vendors

Does this contain the implicit assumption that sellers who ask for XMR will tend to be more virtuous, more professional sellers?

If they accept XMR they are more professional by default, because respect their own and your privacy (safety).

Nice. I accept XMR on my sales thread here, so now I feel more elite than I already did... Lol. /jk

Thanks. Cheesy
legendary
Activity: 1904
Merit: 1003
August 26, 2016, 08:42:38 PM
XMR would tend to become associated with high-reputation vendors

Does this contain the implicit assumption that sellers who ask for XMR will tend to be more virtuous, more professional sellers?

If they accept XMR they are more professional by default, because respect their own and your privacy (safety).
legendary
Activity: 1596
Merit: 1030
Sine secretum non libertas
August 26, 2016, 08:31:55 PM
XMR would tend to become associated with high-reputation vendors

Does this contain the implicit assumption that sellers who ask for XMR will tend to be more virtuous, more professional sellers?
If the low-reputation vendors require multi-sig, which precludes XMR, then all XMR vendors will be high-reputation vendors.   Its an implication rather than an assumption.
hero member
Activity: 798
Merit: 1000
21 million. I want them all.
August 26, 2016, 08:19:10 PM
XMR would tend to become associated with high-reputation vendors

Does this contain the implicit assumption that sellers who ask for XMR will tend to be more virtuous, more professional sellers?
pa
hero member
Activity: 528
Merit: 501
August 26, 2016, 08:13:53 PM
I have a hunch that they will release the gui wallet sometime before Monero trading on AlphaBay begins on Sept 1.

Soon..

Well that might be icing on the cake as far as price rise.  Looking forward to the GUI myself.

Not happening before Sep 1.  I will ride the NYC subway naked if the GUI is released before Sept 1st

LOL quoted for posterity.

For maximum marketing publicity, please use a Sharpie to write adverts/slogans for Monero on yourself before being arrested.   Cool

Moonero?
legendary
Activity: 2156
Merit: 1072
Crypto is the separation of Power and State.
August 26, 2016, 08:10:19 PM
I have a hunch that they will release the gui wallet sometime before Monero trading on AlphaBay begins on Sept 1.

Soon..

Well that might be icing on the cake as far as price rise.  Looking forward to the GUI myself.

Not happening before Sep 1.  I will ride the NYC subway naked if the GUI is released before Sept 1st

LOL quoted for posterity.

For maximum marketing publicity, please use a Sharpie to write adverts/slogans for Monero on yourself before being arrested.   Cool
legendary
Activity: 1722
Merit: 1217
August 26, 2016, 07:59:28 PM
If you will allow me to play devils advocate. I have very little faith in the mental faculties of my fellow man. Consequently I find it hard to believe that dash failed to gain traction on the darknet markets it was introduced on as a result of any sort of technical understanding on the part of market actors. Meaning, to most of them, monero is going to appear indistinguishable. What reason do we have to believe a private currency will gain traction this time when it failed last time?

Dash uses its own version of Coinjoin, which DNM were already using to tumble.

But Dash's version has far less volume, so mixing takes hours or days.

And most DNM ops understood it was instamined.

Awareness of fungibility, block size, hard forkability, and the dangers of bad crypto (thanks DAO) are at ATH.  XMR was already on the anon community radar since Shen broke Shadowcash, if not earlier.

This is the best answer, IMO.

It feels to me that this is the third "real" test of cryptocurrencies.  Bitcoin proved that it was possible.  Ethereum almost made it, but the hype vs flaws deflated that dream (which it may eventually overcome - at least for dapps).

This is Monero's time to shine.  And it's ours to lose. 

We have the technical innovation.  We have a great community.  We can do this.

Don't forget NXT properly solving the proof of stake problem. It totally deserves a spot for that.
full member
Activity: 201
Merit: 100
August 26, 2016, 07:53:13 PM
If you will allow me to play devils advocate. I have very little faith in the mental faculties of my fellow man. Consequently I find it hard to believe that dash failed to gain traction on the darknet markets it was introduced on as a result of any sort of technical understanding on the part of market actors. Meaning, to most of them, monero is going to appear indistinguishable. What reason do we have to believe a private currency will gain traction this time when it failed last time?

Dash uses its own version of Coinjoin, which DNM were already using to tumble.

But Dash's version has far less volume, so mixing takes hours or days.

And most DNM ops understood it was instamined.

Awareness of fungibility, block size, hard forkability, and the dangers of bad crypto (thanks DAO) are at ATH.  XMR was already on the anon community radar since Shen broke Shadowcash, if not earlier.

This is the best answer, IMO.

It feels to me that this is the third "real" test of cryptocurrencies.  Bitcoin proved that it was possible.  Ethereum almost made it, but the hype vs flaws deflated that dream (which it may eventually overcome - at least for dapps).

This is Monero's time to shine.  And it's ours to lose. 

We have the technical innovation.  We have a great community.  We can do this.
legendary
Activity: 2156
Merit: 1072
Crypto is the separation of Power and State.
August 26, 2016, 07:31:30 PM
If you will allow me to play devils advocate. I have very little faith in the mental faculties of my fellow man. Consequently I find it hard to believe that dash failed to gain traction on the darknet markets it was introduced on as a result of any sort of technical understanding on the part of market actors. Meaning, to most of them, monero is going to appear indistinguishable. What reason do we have to believe a private currency will gain traction this time when it failed last time?

Dash uses its own version of Coinjoin, which DNM were already using to tumble.

But Dash's version has far less volume, so mixing takes hours or days.

And most DNM ops understood it was instamined.

Awareness of fungibility, block size, hard forkability, and the dangers of bad crypto (thanks DAO) are at ATH.  XMR was already on the anon community radar since Shen broke Shadowcash, if not earlier.
legendary
Activity: 1596
Merit: 1030
Sine secretum non libertas
August 26, 2016, 06:21:30 PM
My understanding from what I have read from the oasis team is that almost no one uses multisig. Not only that but people are going further and releasing funds before receiving their product.

You're right. FE is common practice. Sellers hate multi-sig because of a) bitcoin volatility and b) because they want the bitcoin in hand. And buyers will do whatever the biggest trusted sellers want and buyers accept that every so often, sellers will exit scam. Seems like it's a seller's market. If sellers start demanding XMR, then the buyers will acquire it. If not, then not.

If that is the case, then I would expect multisig to be associated with low-reputation vendors, and consider that XMR would tend to become associated with high-reputation vendors.  That sort of social signaling feedback loop can be quite powerful.
legendary
Activity: 1722
Merit: 1217
August 26, 2016, 06:19:40 PM
My understanding from what I have read from the oasis team is that almost no one uses multisig. Not only that but people are going further and releasing funds before receiving their product.

You're right. FE is common practice. Sellers hate multi-sig because of a) bitcoin volatility and b) because they want the bitcoin in hand. And buyers will do whatever the biggest trusted sellers want and buyers accept that every so often, sellers will exit scam. Seems like it's a seller's market. If sellers start demanding XMR, then the buyers will acquire it. If not, then not.

I think this is more to do with multisig being an inadequate tool (for this particular application) than anything else. It's too easy to send a box with a rock in it the right weight and then show the arbitrator your receipt. So buyers prefer a trusted non multisig seller to a non trusted one accepting multisig. If multisig was a better solution people would prefer the latter.
hero member
Activity: 798
Merit: 1000
21 million. I want them all.
August 26, 2016, 06:10:33 PM
My understanding from what I have read from the oasis team is that almost no one uses multisig. Not only that but people are going further and releasing funds before receiving their product.

You're right. FE is common practice. Sellers hate multi-sig because of a) bitcoin volatility and b) because they want the bitcoin in hand. And buyers will do whatever the biggest trusted sellers want and buyers accept that every so often, sellers will exit scam. Seems like it's a seller's market. If sellers start demanding XMR, then the buyers will acquire it. If not, then not.
legendary
Activity: 1722
Merit: 1217
August 26, 2016, 06:04:19 PM
If you will allow me to play devils advocate. I have very little faith in the mental faculties of my fellow man. Consequently I find it hard to believe that dash failed to gain traction on the darknet markets it was introduced on as a result of any sort of technical understanding on the part of market actors. Meaning, to most of them, monero is going to appear indistinguishable. What reason do we have to believe a private currency will gain traction this time when it failed last time?

Because 2 years ago it seems virtually all btc users thought it was anonymous enough and now there is a significant % that realize this is not the case.  Now there are companies whose sole purpose is tracing btc transactions.  It seems even mixers are vulnerable. 

I guess the means having a little faith.

Maybe so Smiley
legendary
Activity: 1624
Merit: 1008
August 26, 2016, 05:58:23 PM
If you will allow me to play devils advocate. I have very little faith in the mental faculties of my fellow man. Consequently I find it hard to believe that dash failed to gain traction on the darknet markets it was introduced on as a result of any sort of technical understanding on the part of market actors. Meaning, to most of them, monero is going to appear indistinguishable. What reason do we have to believe a private currency will gain traction this time when it failed last time?

Because 2 years ago it seems virtually all btc users thought it was anonymous enough and now there is a significant % that realize this is not the case.  Now there are companies whose sole purpose is tracing btc transactions.  It seems even mixers are vulnerable. 

I guess the means having a little faith.
legendary
Activity: 1624
Merit: 1008
August 26, 2016, 05:49:44 PM
As for price speculation, even though those with skills far beyond mine are predicting significantly lower prices on the horizon I just don't see how that can happen.  Too much new interest and the dnms will not be a bust. 

In case you are talking about rpietila recent posts, which I really enjoy btw, he is clearly talking his book.

Yes and others as well. 



finger on the trigger

I am not in the game, but personally, I think anything under $4 is a steal.  Lucky if you get it.


Yes and Yes Wink

Just a little light relief. A little dip and I'm buying a few more hundred


Yes Cool


Whatever happens it's all good Smiley
legendary
Activity: 1722
Merit: 1217
August 26, 2016, 05:46:12 PM
If you will allow me to play devils advocate. I have very little faith in the mental faculties of my fellow man. Consequently I find it hard to believe that dash failed to gain traction on the darknet markets it was introduced on as a result of any sort of technical understanding on the part of market actors. Meaning, to most of them, monero is going to appear indistinguishable. What reason do we have to believe a private currency will gain traction this time when it failed last time?

My understanding is that both Oasis and AlphaBay implemented Monero on the basis of demand, rather than speculation or compensation by the currency team.  It is possible that this is just PR and they are doing it on speculation, and already found sufficient profit by front-running the public information.  We will discover that soon enough, by observing listings and transaction volumes.

The lack of multisig is definitely hurting now.  Probably more so than lack of GUI.  A Tor-accessible web wallet with multisig support would be basically as good as a GUI for usability.  In fact it would put us way ahead of Bitcoin in terms of usability.

My understanding from what I have read from the oasis team is that almost no one uses multisig. Not only that but people are going further and releasing funds before receiving their product.
legendary
Activity: 2492
Merit: 1491
LEALANA Bitcoin Grim Reaper
August 26, 2016, 05:41:23 PM
I have a hunch that they will release the gui wallet sometime before Monero trading on AlphaBay begins on Sept 1.

Soon..

Well that might be icing on the cake as far as price rise.  Looking forward to the GUI myself.

Not happening before Sep 1.  I will ride the NYC subway naked if the GUI is released before Sept 1st

LOL quoted for posterity.
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