Topic: [XMR] Monero Speculation - page 1324. (Read 3314309 times)

If mining is centralized in China doesn't that actually transfer the latency issue to non-Chinese miners? Resulting in possible more centralization. I recall reading such a thing.

I am not so sure. They still have to get the hash of the transactions across the GFWC and the results then back to the server. The issue here is latency not bandwidth.

Thanks for the support, but the GFW is a great lie. The ASICS only need a hash of the transactions, not all the transactions. The mining pool server can be located outside of China.

That will show you that the ASIC miners in China are greatlousy liars.

So why is monero dropping much harder than all those ICOs?

A BTC rise is needed at least for the next month or two to flush out the ICO scams that have been prevalent on the boards since January. All these MAID/WAVES/LISK/UPPERCASESCAMCOIN seem to be coming from the same type of factory. Until this new generation of crypto believers get burnt, they will not learn their lessons, however harsh that sounds. It doesn't mean some of the profiteers will change their stance or all of the ones getting burnt will learn, but that's just the way it is with money.

An unfortunate side effect is that the only alt that has real practical value, long and short term (XMR) will also take some beating as the small fishes seem to be revolting against the manipulation that they have undergone from the whales for a long time.

I actually for the most part agree with it. I  have been a Bitcoin bear for a while simply because I do not like the long term fundamentals. The biggest issue is the 1 MB blocksize issue and the proposals being thrown around are simply too little too late. There is a reason new venture capital is not moving into Bitcoin and that is simply that venture capital demands the possibility of very high growth because of the risk involved. The 1 MB blocksize limit is simply making stagnation part of the Bitcoin protocol and consensus model. I can think of no more effective way to drive venture capital away than to make stagnation an integral part of the Bitcoin protocol and consensus model.

While ASIC centralization is part of he problem, I would argue that were it not for the blocksize limit this alone is not to blame. The issue is that while China is by far the most cost effective place to manufacture ASICs and it also scores well in the electricity and climate are (parts of Northern China do get very cold in the winter) it has a very high latency Internet connectivity to the rest of the world due to the Great Firewall of China. A mid range residential Internet connection in many parts of the world will run circles over the best data centre grade Internet connection behind the Great Fire Wall of China in the mining critical area of latency. What has allowed the centralization in Bitcoin mining to occur is not just ASICs but the combination of a 10 min blocktime with a 1 MB blocksize limit together with ASICs. If Bitcoin had allowed the blocksize to grow back in 2012 - 2013, the Chinese ASIC manufacturer's would have been forced to sell their ASICs for export rather than operate them themselves locally and this would have prevented the concentration of Bitcoin mining in China. We must keep in mind the the Chinese miners are against any significant blocksize increase in Bitcoin for this very reason.

Even if someone developed an ASIC for CryptoNite that was truly competitive, I doubt the kind of mining concentration that has occurred in Bitcoin could happen In Monero simply because China would still be by far the most competitive place to manufacture the ASICs, but the combination of 2 min blocks and an adaptive blocksize limit would make China a very un-competitive place to operate the ASICs.

You just look very wrong right now.  BTC rising and every alt getting murdered.

Probably nobody here wants to read this viewpoint:

BTC rising... monero is not alone so id say just relax and wait till the tides are back to normal after halvening and the speculation it brings to the alt scene too

It doesn't even look like a margin short position. There are still a lot of loan offers below 0.01%, and even more right around that (already really crazy) low area. This looks like regular unloading to me. Hold on tight folks.

this dump is for all people who loan their coins at 0.01% having fun yet with ur loaning profits lol

Hope everyone is well. Been a long break from crypto for me. Still holding my main bag and its good to see some nice price rises in both XMR and BTC

I am using lending market to analyze the overall atmosphere. When rates  are low it means the shorter community thinks the price is low and odds for further decline are  limited.

Thank you for the quick answer. I will keep an eye on the lending market from now on.

It's way easier to introduce such a scheme into Bitcoin than Monero, simply because you can differentiate between certain coins/transactions in Bitcoin (i.e. taint). Sure they could ban Monero as a whole, but that wouldn't break the fungibility of the coin. Furthermore, since Monero is (i) decentralized and (ii) fairly launched the chances are pretty negligible.

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Spared? They would have to legislate a code change and thats not possible. No-one would use it. And a Fork would take over. Lol

if bitcoin goin to be regulated to death are you really believe monero will be spared  if monero being spared it would be because monero was created by NSA.    

Anyone take my ETH advice?

As far as I know, there are only about a dozen coins available for margin trading?