Author

Topic: [XMR] Monero Speculation - page 1225. (Read 3314316 times)

legendary
Activity: 2968
Merit: 1198
August 01, 2016, 07:01:23 PM
It may be that we are waiting for an extinction event. That is what I mean by calamity. Perhaps the complete or near destruction of global financial system. In that case, people will be running for their lives. XMR could function as a lifeboat alongside precious metals, etc.

This is a large portion of my thinking about cryptocurrency. If you were around since 2011 as I was then you can appreciate the enormous shift in public confidence in the incumbent financial system. Crypto is surviving and even to an extent thriving despite a five-year trend in the fundamentals of perception that are hugely negative, but I don't really see a moon type event in any crypto without that trend reversing in a big way.
hero member
Activity: 798
Merit: 1000
21 million. I want them all.
August 01, 2016, 06:42:46 PM

Define calamity.  Capital controls, confiscatory taxation, bail-ins are all good for XMR.  These are foreseeable, known unknowns. I don't anticipate that they will be dominant factors in valuation until after the known catalysts have made their primary impact.

Regarding knowns: Look to AML/KYC and contraband use-cases.  Some consider that history has proven the war on plants to be a calamity, which we are already experiencing in the fullest.   I think that will be good for 25x-50x gains in XMR if/when software usability and risk-aversion demand align.  

Then there are unknown unknowns, unforseen use-cases in which privacy makes the difference between a dark world of calamity, and bright open spaces.  If I were to name them, they would no longer be in this category.  Very hard to discount, therefore.

It's not literally "exponential" until the factors are seen to have compounded.




We've been over the use cases a million times. All of those use cases you listed are good and XMR is good in theory right now but something needs to actually drive the reaction. The temperature needs to be changed. An enzyme needs to be added. Something is eluding us.

It may be that we are waiting for an extinction event. That is what I mean by calamity. Perhaps the complete or near destruction of global financial system. In that case, people will be running for their lives. XMR could function as a lifeboat alongside precious metals, etc.

It may be that we need a clear-cut case of bitcoin blockchain analysis bringing down a large group of illicit traffickers in order for all of those markets to switch over to XMR.

I'm still reading stories about people strapping cash to their bodies and trying to physically cross borders. This stuff is not necessary anymore.

I'm trying to understand what it is that we're waiting for. I don't think it's any sort of GUI or decrease in the block reward or anything like that. Maybe XMR actually has to be the last man standing. The only good option left. And not just from a theoretical standpoint. Maybe things have to actually be on fire.
legendary
Activity: 2282
Merit: 1050
Monero Core Team
August 01, 2016, 05:52:51 PM
There are also use cases for Monero that have nothing to do with world calamities or even illegal plants. The recent Ethereum hard fork is an excellent case in point. Consider the following old thread where it was proposed back in 2013 to do an Ethereum style hard fork to undo the seizure by the United States of the Silk Road Bitcoins. https://bitcointalk.org/index.php?topic=306809.0;all. What is significant is that the poll had 27.7% in support of such a hard fork in Bitcoin. Of course if the United States Government had seized Monero instead of Bitcoin (I know Monero did not exist back then, but let us suppose) this would have been virtually impossible making the entire thread irrelevant.

We can thank Vitalik Buterin for a new use case for Monero, This use case is that Monero actually ensures that if the proceeds of crime are seized by lawful means they remain seized.
legendary
Activity: 1596
Merit: 1030
Sine secretum non libertas
August 01, 2016, 05:37:20 PM
Is it necessary for the global economy to implode for XMR to grow exponentially? Or will people be able to see the merits of fungible cryptocurrency without calamity?


Define calamity.  Capital controls, confiscatory taxation, bail-ins are all good for XMR.  These are foreseeable, known unknowns. I don't anticipate that they will be dominant factors in valuation until after the known catalysts have made their primary impact.

Regarding knowns: Look to AML/KYC and contraband use-cases.  Some consider that history has proven the war on plants to be a calamity, which we are already experiencing in the fullest.   I think that will be good for 25x-50x gains in XMR if/when software usability and risk-aversion demand align. 

Then there are unknown unknowns, unforseen use-cases in which privacy makes the difference between a dark world of calamity, and bright open spaces.  If I were to name them, they would no longer be in this category.  Very hard to discount, therefore.

It's not literally "exponential" until the factors are seen to have compounded.


legendary
Activity: 1596
Merit: 1030
Sine secretum non libertas
August 01, 2016, 05:23:48 PM
BTC chart has deteriorated substantially over the weekend.  Looks like a lot more downside.  I sold a splanch of BTC myself.  What puzzles me is why XMR isn't on a tear right now.  Given that BTC expectations are poor, I would expect everyone with any fondness for XMR to be seeking refuge there.
legendary
Activity: 1105
Merit: 1000
August 01, 2016, 05:02:59 PM
Is it necessary for the global economy to implode for XMR to grow exponentially? Or will people be able to see the merits of fungible cryptocurrency without calamity?


Yes.

Edit: Sorry I can never resist answering questions like this like that.
hero member
Activity: 798
Merit: 1000
21 million. I want them all.
August 01, 2016, 04:47:17 PM
Is it necessary for the global economy to implode for XMR to grow exponentially? Or will people be able to see the merits of fungible cryptocurrency without calamity?
legendary
Activity: 1624
Merit: 1008
August 01, 2016, 10:27:09 AM
End of the month is a bad time for btc to go down.

What do you mean by that?

I think he means it is bad for the people that pay their bills in BTC

Or people that pay their bills in fiat so no fiat is left over for btc, some of which inexorably becomes Monero.  Though it seems that I will probably have some time to buy at these levels and some quite reputable people are expecting lower. 

U guys are getting really cryptic.

I speculate bananas

Wait, are you aminorex's monkey?
legendary
Activity: 1750
Merit: 1036
Facts are more efficient than fud
August 01, 2016, 08:10:32 AM
U guys are getting really cryptic.

I speculate bananas

A banana would fit
legendary
Activity: 1260
Merit: 1008
August 01, 2016, 07:19:50 AM
U guys are getting really cryptic.

I speculate bananas
full member
Activity: 125
Merit: 100
Chief Technology Officer, NYC
August 01, 2016, 07:15:21 AM
What smells like fish and tastes like chicken?

hero member
Activity: 870
Merit: 585
August 01, 2016, 06:06:53 AM
End of the month is a bad time for btc to go down.

What do you mean by that?
What smells like fish and tastes like chicken?
hero member
Activity: 768
Merit: 505
August 01, 2016, 03:29:30 AM
End of the month is a bad time for btc to go down.

What do you mean by that?

I think he means it is bad for the people that pay their bills in BTC
full member
Activity: 212
Merit: 100
July 31, 2016, 01:01:47 PM
wtf are you guys talking about lol

Victoriously
entertaining.
Really,
your

great
opinion
offers
delights!

Intellect -

the
highest
intelligence
nosily
knowing

whatever
enlightenment

submits,
has
always
lent
luxurious

souvenirs.
Every
experience

adds

new
elevation
when

heeded.
It'll
go
higher.

Just a bit of cryptographic fun.
legendary
Activity: 1624
Merit: 1008
July 31, 2016, 12:17:54 PM
Benevolently under your miraculous omen, new enterprises rightfully open.

Victoriously entertaining. Really, your great opinion offers delights!

Intellect - the highest intelligence nosily knowing whatever enlightenment submits, has always lent luxurious souvenirs. Every experience adds new elevation when heeded. It'll go higher.

wtf are you guys talking about lol

They must have taken the same drugs.

Maybe they have some insight as to when the Godot-UI will be ready.

End of the month is a bad time for btc to go down.
legendary
Activity: 2744
Merit: 1288
July 31, 2016, 09:09:09 AM
We will see if head and shoulders are forming now. Looks very bad now.  Huh

I dont understand what should be bad. To me all looks the same. Last 3 weeks price of Monero is between 0.0027 and 0.003 with only one day where all alts on Poloniex was sold to fast earn something on ETC. Volume was $3 millions in last 3 weeks. What would be a lot if it would happen a year ago. Now is not that much, but still is some. What is strange is that there is  about 100 BTC wall at about 0.00277 that looks like is always there.

It seems there is no one, even the miners, that are desperate to dump their XMR. It seems everyone can wait this few months for a GUI. Only day trading bots are trading. And few try to accumulate as cheap as they can.
hero member
Activity: 870
Merit: 585
July 31, 2016, 05:25:59 AM
I presume you mean bad for btc, not xmr.
On a more cheerful note, does someone here trade xmr against usd tethers on polo?
I've decided to reduce my exposure to btc a little, so I sold some on finex and sent the tethers to polo.
legendary
Activity: 1092
Merit: 1000
July 31, 2016, 03:13:15 AM
We will see if head and shoulders are forming now. Looks very bad now.  Huh
legendary
Activity: 1596
Merit: 1030
Sine secretum non libertas
July 31, 2016, 12:17:00 AM
My ladder is kicking in now on BTC.  If we can get to the 500s, I may even sell some metal so i can margin a bit against a USD capital position: Monkey says down on the daily, but strongly up on the weekly.
hero member
Activity: 714
Merit: 504
July 30, 2016, 10:18:18 PM


Meanwhile in the Garden of Monero, large well-maintained hedges are a perfect choice for overall peace of mind, as well as providing privacy and security from snooping neighbours.

When the world burns around you, don't settle for anything less.
Jump to: