Topic: [XMR] Monero Speculation - page 1338. (Read 3313670 times)

Doesn't seem rational to short a coin that's already down ~30% for the week.  Why not wait until it's up?

Perhaps this is irrational rage-shorting by some angry Dash FailWhales.

They've been in a giant anti-Monero tizzy since Tone Vays pronounced Dash's instamine to be fraudulent, not "accidental."

Please keep dumping guys.  I need XMR under 0.001 to buy MOAR without raising my avg cost.   

Very profitable trade. We know those will be covered with huge profits. This is my favorite dump coin. Price goes up, dump some more otherwise regret not dumping. At this point there not more than a few hundred people trading, most of whom are on this thread. It's a race to see who cums first. Post some charts if necessary LMAO

Another 20k taken out to short and subsequently dumped on the market:

http://monerodice.pd.to/polo.php

I wouldn't be suprised if the number of open shorts totals a 6 figure amount in XMR terms.

An easy to understand guide on how to restore your MyMonero account/wallet with simplewallet

https://www.reddit.com/r/Monero/comments/4exiih/an_easy_to_understand_guide_on_how_to_restore/

An example of one of my several correct predictions on ETH:

Yes. Just look at how governments has been cracking down on tax havens for the last decade. Or how the US shut down wonderful inventions like e-gold, liberty reserve, liberty dollar etc and gave the owners labels such as money launderers, child pornographers, domestic terrorists. These services was not even close to as anonymous and dangerous as XMR is. I think it is only a question of time before XMR (or anonymous cryptocurrencies in general) will become the scapegoat of the Four Horsemen of Infocalypse.

No doubt that cash is king. But to transfer USD online USDT is better than having USD locked to one particular exchange. Next step could be things like Nubits and BitUSD, but I'm not sure if those are really viable alternatives atm.

We are about to take delivery of a 8 card GPU server (8 Tesla K10.G2.8GB) , anyone dares to speculate how much they can hash in total ?

Even better if one could sell GoxUSD short.  When it comes to USD the safest by far is the actual notes and coins., otherwise known as cash.  USDT has the risk of fractional reserve / default, present in digital versions of USD, and is subject the Bitcoin's 1 MB blocksize limit. This can be the worst of fiat and crypto combined in one asset.

Why? Because of the anonymous nature of XMR?

There are many fiat/btc gateways and even a fiat/eth gateway in Kraken.  So why would a fiat/xmr gateway be impossible long term?

Technically no. Legally I'd argue that it's impossible long term. For short term it could work, but the barrier to entry is high. Depending on where you live you'd expect there to be things like license to operate, KYC requirements, troublesome banks and other ridiculous regulations and/or taxes.

I think a gateway using something like Tether USD could be a reasonable compromise.

Is it so difficult to set up a fiat/xmr gateway?

Regarding USD we already got something better: Tether USD. It's trading on poloniex (XMR/USDT). Tether USD is blockchain based (on counterparty) and that means you can store the USD in your own cold storage and/or easily transfer them between different exchanges. USDT is still centralized in the sense that it's backed by real USD managed by one entity, but it's one step beyond storing the USD on an exchange as it allows people to trade outside of the exchange. Also, tether has only one job: to back the asset. If you store USD on any exchange and it suffers loss in any other currency you risk socialized losses, or to be brought down with the exchange. With Tether USD the risk is limited to only USD and only the one backing entity.

Imagine if GoxUSD was on the blockchain, people could still trade it to this day. Blockchain currencies with real backing is one step above the traditional way of storing currencies imo.

Yes it probably would.

In terms of transactional use, it would help alongside other factors such as ease of integration on the merchant side, and somewhat on the end user side, including native APIs, better documentation, and turnkey payment processing (and on the end user side more wallets). There are many components that all have to fit together, any one or two by themselves won't do much.

In terms of use as a store of value, some are probably put off by the two step process of needing to go through BTC which adds both inconvenience and probably cost.

On the other hand, it may be that usage of crypto will come mostly from other markets that may have trouble accessing a USD or EUR gateway even if one existed. Venezuela is mentioned a lot for example (mostly in connection with Bitcoin).

Well, by boost I mean mostly the adoption of XMR (also rise of price).

Do you guys think it will importantly increase XMR adoption?

(Assuming you mean boost the price.)

By a little, at least in the short term. Longer term the effect may be larger but it will be impossible to run the experiment since there either will or will not be such gateway.

Purely my opinion with no supporting evidence.

Do you think USD/EUR to XMR gateway would boost Monero?

I didn't dislike you claiming with implied but without explicit proof. Smoothie didn't like it! By transitive logic as quoted. I was pointing out the hypocrisy of smoothie's attack on me by applying his logic to your post.

Afair, carryless multiply is generally part of the AES algorithm and is one of the AES-NI instructions. It has been 2 years since I studied the Monero hash algorithm source code, so it is possible you use some AES-NI instructions and not all of them.

My post was entirely relevant to point that I was replying to which is that GPUs may have a cost advantage over the CPU for the current Cryptonite algorithm, and what a solution could be.

I've read most of the 50+ page Synereo white paper, expended several hours viewing some of their YouTube Hangouts, done some limited discussion with their founding developer (username here Elokane), and posted in every recent Synereo thread in Altcoin Discussion.

Synereo was launched as a vaporware ICO and the math whiz on the project is Greg Meredith who is into process calculus research and was one of key persons apparently on Microsoft's BizTalk design. Greg is into using Scala and also is collaborating on the math modeling of Ethereum's upcoming, promised Casper design (which btw several of us, excluding smooth, have criticized in the Ethereum Paradox thread for its fundamental insoluble flaws).

I have pointed out that there are numerous P2P (aka distributed) social networking projects, so the idea of Synereo being the first and able to sweep the world, is very slim, especially they have no compelling features afaics. Thus I have criticized them for preselling tokens ("AMPS") with no adoption and on hype. Their major claim as an innovative feature is an "Attention Model" which is composed of reputation ("Reo") and a counter-vailing force of being able to pay to override reputation with the AMPS tokens. In other words, they aim to make the content that the users share more relevant. I had pointed out that the Reo needs to be fine-grained on for example #hashtags, and Elokane indicated that although that is not in the white paper they are implementing something like that, yet there is no holistic public specification afaik. They are claiming to be very close to beta, but I've pointed out that doesn't mean they are any where near adoption. I have also pointed out that Facebook users don't seem to have major complaints about the relevance of shared content on feeds, thus I doubt anyone will adopt Synereo (because their friends won't be there and much less content sharing and other chicken and egg dilemmas).

Also I have pointed out that the economics of advertising is the most someone could expect to earn by being paid to share (the AMPs model) is perhaps about $1 (in developing world) to $10 (first-world) per day and probably not that much. It simply isn't worth anyone's time. People don't join social networks to be paid some palty income. They join for other more important reasons. Thus I've argued the economic model for the AMPS is fundamentally flawed.

Thus I have argued they are preselling shit which no market.

Also I don't really understand the process calculus well enough to know if it is technobabble bullshit or not, but it sure looks like it to me. It looks like ivory tower shit that has no real implications in the real world. What did BizTalk do that was relevant? I did a Google search and it seems basically no one used it? Excuse me for being skeptical but the selling of ICOs is becoming too lucrative and attractive for every Joe who has some technobabble to make n00bs drool.

Smooth is not involved in my JAMBOX project at all. I occasionally trade ideas with him about technology. My JAMBOX project will when it is crowdsourced (not for tokens just for Tshirts!) will explain that it targets compelling features and economics. I have not yet announced that, because for one thing is that at the moment I am working on potentially creating a new programming language based on top of Rust, or perhaps contributing to Rust. Because JAMBOX is based on the concept of empowering mobile apps, and so I need to be sure the language we are using is the best in severals ways one of which is JIT compilation.

I don't hate Synereo's people. I just wish they hadn't done a vaporware ICO, both for the legal reasons of selling unregistered investment securities to non-accredited USA investors apparently in violation of securities law as provided for by the Supreme Court's Howey test and simply because it is the antithesis of the objective ethics (i.e. no zero-sum games) of meritocratic software development to sell vaporware.