Mixin = 0 transactions down to 0.73 over the last 24 hours:
http://moneroblocks.info/stats
Bear in mind that mixin = 0 transactions are allowed as long as they contain one dust input.
Topic: [XMR] Monero Speculation - page 1413. (Read 3313576 times)
You are right when saying the borrowers do not seem to care about the rates, and that's good as long as there are also market makers who make sure there are always coins for sale if they get margin called, therefore I am very glad we have Aminorex. I wish there will be more people like him.
They make sure there will not be too much defaults.
The lending is lucrative in days of green dildos. The bears think the price will drop and they are taking risk on that view by shorting the coin and thus pushing the interest rates up. I highly recommend longer terms if you want to avoid bidding the rates down. Some percentage of borrowers seem to hold their positions open the max period (the longest open position I have currently is originating from January 27th so it will become due like tomorrow).
Thanks for your wise words. It also occurs to me that people trying to make money by lending could also protect their lending investment and potentially scalp a little extra profit by padding the books slightly with some liquidity.
Crypto has been more than just fun and profitable for me - it has truly been a master's class in finance and markets. Very few people get the kind of education that is being provided here free of charge, because most people can never get anywhere near this level of the action without already having millions of dollars.
For me the altcoins were a terrible loss but I learned my lesson: Only invest in projects that have sufficient funding and has some sort of chance to succeed.
Yes, the liquidity is needed indeed when there will be the repayment time, at least for the part of accured interests. Most of my loans are 60 days so there already have a nice chunk of Moneros coming as interests and they need to be purchased from marketmakers.
At this point I am too small to risk my Moneros in market making... When Monero is 100+ usd coin I might start a small market making "business" by giving quotes of bids spot - 5 % and asks at spot + 5 %. And perhaps only for like 10 000- 20 000 usd per side, so there is room for other makers as well.
I am also hoping to start seeing some investment vehicles that rakes money out of the realm of fiat currency.
For instance, if people buy a stock (let's say, Realty Income which is pretty stable by paying monthly dividends since 1960's and channel all the dividends into Monero, over long period it will create a massive Monero hoard and if it is simply hoarded it will force the price to steady rise especially in days when the coin is well distributed). This type of activity has similar type of effect on Monero economy as exports have in the conventional economy: it appreciates the currency.
You are right when saying the borrowers do not seem to care about the rates, and that's good as long as there are also market makers who make sure there are always coins for sale if they get margin called, therefore I am very glad we have Aminorex. I wish there will be more people like him.
They make sure there will not be too much defaults.
The lending is lucrative in days of green dildos. The bears think the price will drop and they are taking risk on that view by shorting the coin and thus pushing the interest rates up. I highly recommend longer terms if you want to avoid bidding the rates down. Some percentage of borrowers seem to hold their positions open the max period (the longest open position I have currently is originating from January 27th so it will become due like tomorrow).
Thanks for your wise words. It also occurs to me that people trying to make money by lending could also protect their lending investment and potentially scalp a little extra profit by padding the books slightly with some liquidity.
Crypto has been more than just fun and profitable for me - it has truly been a master's class in finance and markets. Very few people get the kind of education that is being provided here free of charge, because most people can never get anywhere near this level of the action without already having millions of dollars.
I'm not commenting on the merits of any coin, just stating whether or not I think they'd make a suitable backup.
A suitable backup would be a cryptocurrency that shares none of Bitcoin's code, uses a different PoW, and doesn't depend on Secp256k1. Are there any non-scam, transparent-chain coins with those characteristics? I honestly don't know/never checked.
Obviously the market sees value in LTC. I'm not disagreeing with you on that. I only disagree that LTC would make a suitable backup to Bitcoin.
Of course I can't predict how Bitcoin might fail, which is why I wouldn't choose a coin that's 95% identical to serve as a backup. And yes, considering how similar they are, I will presume that any theoretical failure in Bitcoin will also affect LTC.
A suitable backup would be a cryptocurrency that shares none of Bitcoin's code, uses a different PoW, and doesn't depend on Secp256k1. Are there any non-scam, transparent-chain coins with those characteristics? I honestly don't know/never checked.
Were you here that time BTC has an itsy-bitsy little chain fork and LTC instantly absorbed the FUD? I was, and so were a lot of other people. We're not going to forget that, no matter how impressively many zeros BTC adds to its uptime.
Then there is the fact many (especially in China) see BTC and LTC as Coke and Pepsi. They don't need to understand my "LTC as a backup argument" because they don't even see LTC as an altcoin.
Then there is the fact many (especially in China) see BTC and LTC as Coke and Pepsi. They don't need to understand my "LTC as a backup argument" because they don't even see LTC as an altcoin.
Obviously the market sees value in LTC. I'm not disagreeing with you on that. I only disagree that LTC would make a suitable backup to Bitcoin.
Since you can't tell us how Bitcoin is going to fail, please don't presume to also assert that unknown, theoretical failure mode would necessarily be occupied by Litecoin or any (non-merged-mined) altcoin as well.
Of course I can't predict how Bitcoin might fail, which is why I wouldn't choose a coin that's 95% identical to serve as a backup. And yes, considering how similar they are, I will presume that any theoretical failure in Bitcoin will also affect LTC.
Your presumption is empirically denied. I even mentioned it and you quoted it, but then glossed right over it in the rush to confirm and reiterate your bias. I'll try bolding it; maybe that will help.
For many coins, suitability for backup is their most important merit. You can't commend on them separately.
Litecoin has on occasion already provided stability (ie acted as a suitable backup) when Bitcoin threatened/suffered catastrophic consensus failure, and the markets responded accordingly. But we've never seen them both experience simultaneous downtime. That scenario only exists in your personal Imaginationland.
Regardless of all that, your quest for a suitable Bitcoin backup is now ended. Monero shares none of Bitcoin's code, uses a different PoW, and doesn't depend on Secp256k1.
The way I am able to do it is to lend higher rate but max term (60 days). And then feed the beast slowly slowly. It is surprising how many borrower will keep the short position open the max period despite the fact that the price goes agains him.
Coming from someone who loves margin gambling, I can tell you the mind of a margin gambler: they don't give a shit about rates. If I am going margin long, I expect to make >5% profit within 2 or 3 days and therefore don't mind paying exorbitant rates. I'm not saying that is a right state of mind - I am just telling you the average borrower's mindset. In fact, many who use margin short and long don't even check the rates before they borrow and since Poloniex defaults to 2% max, travesties of lending are quite possible.
Any idea why lending got so lucrative a few days ago and what conditions might make it so lucrative again?
You are right when saying the borrowers do not seem to care about the rates, and that's good as long as there are also market makers who make sure there are always coins for sale if they get margin called, therefore I am very glad we have Aminorex. I wish there will be more people like him.
They make sure there will not be too much defaults.
The lending is lucrative in days of green dildos. The bears think the price will drop and they are taking risk on that view by shorting the coin and thus pushing the interest rates up. I highly recommend longer terms if you want to avoid bidding the rates down. Some percentage of borrowers seem to hold their positions open the max period (the longest open position I have currently is originating from January 27th so it will become due like tomorrow).
The way I am able to do it is to lend higher rate but max term (60 days). And then feed the beast slowly slowly. It is surprising how many borrower will keep the short position open the max period despite the fact that the price goes agains him.
Coming from someone who loves margin gambling, I can tell you the mind of a margin gambler: they don't give a shit about rates. If I am going margin long, I expect to make >5% profit within 2 or 3 days and therefore don't mind paying exorbitant rates. I'm not saying that is a right state of mind - I am just telling you the average borrower's mindset. In fact, many who use margin short and long don't even check the rates before they borrow and since Poloniex defaults to 2% max, travesties of lending are quite possible.
Any idea why lending got so lucrative a few days ago and what conditions might make it so lucrative again?
I want to buy few hundred XMR but is this the right time to buy them?
Always right time.
However, if you are afraid the dump, then buy 1-5 % of your goal everyday and thus you will end up buying the average price always pretty close to the spot. If the price drops, your average price declines as you get more coins abd if the price goes up your average price goes up also (but that doesn't matter since the coins you bought earlier are appreciating as well).
If there are weak hands saying Monero cannot run anymore, it is always possible to borrow Moneros (obviosuly you have sold your coins already and need to borrow now), I am happy to feed your short positions.
The rates are now so low that not many will bother to lend but I can give a few coins for rent.
That been said, over 50 % of my coins are lent at 0.20 % or higher (even the loan with 0.900 % is still collecting interest).
The rates are now so low that not many will bother to lend but I can give a few coins for rent.
That been said, over 50 % of my coins are lent at 0.20 % or higher (even the loan with 0.900 % is still collecting interest).
I've gotten to the point where I am too big of a player to play the margin game anymore (at least without not disrupting the markets somewhat), so I am starting to look into other forms of making my money work for me, specifically the other side of the coin: lending. I say again, I really wish Poloniex allowed people to long other coins with borrowed XMR, but we seem to be getting a steady 0.1%-ish even with the only purpose of Monero lending being to short itself.
Do you have any advice for a new wannabe lender who wants to stay competitive, but also not get into a bidding war with other lenders? What should I look for in offering an average loan? Are 0.1% 2-day loans the norm? Should I try to swing those low interest loans into higher rate ones once the initial term is up? Sorry, all this is a bit new to me, but I am learning quickly.
The way I am able to do it is to lend higher rate but max term (60 days). And then feed the beast slowly slowly. It is surprising how many borrower will keep the short position open the max period despite the fact that the price goes agains him.
I would wish Monero community (or someone credible) would start some kind of investment fund which collects fiat money in form of dividend, rental income etc. passive forms and once the payment in fiat has arrived to bank account, they will instaconverted into Monero and the members of the funds own certain shares according to their initial investment... In that way, Monero gets constantly demand from fiat world and more and more fiat money is channeled towards Monero economy and thus sets some upside pressure to the price of Monero (a little bit similar idea as NXT - they have cashcows which basically gives the demand for coin. Monero is kind of store of value so it could ideally fit into this purpose).
I want to buy few hundred XMR but is this the right time to buy them?
If there are weak hands saying Monero cannot run anymore, it is always possible to borrow Moneros (obviosuly you have sold your coins already and need to borrow now), I am happy to feed your short positions.
The rates are now so low that not many will bother to lend but I can give a few coins for rent.
That been said, over 50 % of my coins are lent at 0.20 % or higher (even the loan with 0.900 % is still collecting interest).
The rates are now so low that not many will bother to lend but I can give a few coins for rent.
That been said, over 50 % of my coins are lent at 0.20 % or higher (even the loan with 0.900 % is still collecting interest).
I've gotten to the point where I am too big of a player to play the margin game anymore (at least without not disrupting the markets somewhat), so I am starting to look into other forms of making my money work for me, specifically the other side of the coin: lending. I say again, I really wish Poloniex allowed people to long other coins with borrowed XMR, but we seem to be getting a steady 0.1%-ish even with the only purpose of Monero lending being to short itself.
Do you have any advice for a new wannabe lender who wants to stay competitive, but also not get into a bidding war with other lenders? What should I look for in offering an average loan? Are 0.1% 2-day loans the norm? Should I try to swing those low interest loans into higher rate ones once the initial term is up? Sorry, all this is a bit new to me, but I am learning quickly.
If there are weak hands saying Monero cannot run anymore, it is always possible to borrow Moneros (obviosuly you have sold your coins already and need to borrow now), I am happy to feed your short positions.
The rates are now so low that not many will bother to lend but I can give a few coins for rent.
That been said, over 50 % of my coins are lent at 0.20 % or higher (even the loan with 0.900 % is still collecting interest).
The rates are now so low that not many will bother to lend but I can give a few coins for rent.
That been said, over 50 % of my coins are lent at 0.20 % or higher (even the loan with 0.900 % is still collecting interest).
A suitable backup would be a cryptocurrency that shares none of Bitcoin's code, uses a different PoW, and doesn't depend on Secp256k1. Are there any non-scam, transparent-chain coins with those characteristics? I honestly don't know/never checked.
Most cryptonote coins, including Monero before the fork, could be used in that manner by just not using mix >0 (or indeed a trivial fork could be created that would disable mix >0). In practice most of them have predominantly been used in that manner.
Hmm, maybe such a fork is actually worth creating?
EDIT: You would still have stealth addresses, but that could be effectively disabled by using receiver-chosen-r. That gives you output public keys that are similar to Bitcoin addresses (but not reusable). I'm sure additional tweaks could be made if desired.
If we advocate Bitcoin (read: crypto e-cash) becoming a critical system, how can we not also advocate multiple redundant backup systems?
Your "LTC as a backup" argument has never made sense to me.
LTC would fail as a backup because it offers no security balance, and will suffer the same hypothetical fate as its bigger brother. Think about it: if the bitcoin network were suddenly brought to its knees, how would anyone be safer in LTC?
AEON backing up XMR is equally absurd.
I also mentioned BBR/XCN as possible/logical XMR backups, yet you pointedly failed to mention them. Any reason for that omission?
No reason. BBR and XCN would be just as unsuitable. I'm not commenting on the merits of any coin, just stating whether or not I think they'd make a suitable backup.
Sorry, I can't parse "security balance" or understand why such a thing would overrule the market, which has put the upper bound of LTC value at something over $30 each and consistently awards LTC a market cap in the $100s of millions.
LTC uses a different blockchain and proof-of-work and github (etc) than BTC; why wouldn't it be safer when BTC black-swans?
LTC uses a different blockchain and proof-of-work and github (etc) than BTC; why wouldn't it be safer when BTC black-swans?
If by "etc" you mean "nothing else" then I agree with you. LTC has a different proof-of-work. Any black swan event unrelated to the PoW and LTC is equally vulnerable.
A suitable backup would be a cryptocurrency that shares none of Bitcoin's code, uses a different PoW, and doesn't depend on Secp256k1. Are there any non-scam, transparent-chain coins with those characteristics? I honestly don't know/never checked.
Were you here that time BTC has an itsy-bitsy little chain fork and LTC instantly absorbed the FUD? I was, and so were a lot of other people. We're not going to forget that, no matter how impressively many zeros BTC adds to its uptime.
Then there is the fact many (especially in China) see BTC and LTC as Coke and Pepsi. They don't need to understand my "LTC as a backup argument" because they don't even see LTC as an altcoin.
Then there is the fact many (especially in China) see BTC and LTC as Coke and Pepsi. They don't need to understand my "LTC as a backup argument" because they don't even see LTC as an altcoin.
Obviously the market sees value in LTC. I'm not disagreeing with you on that. I only disagree that LTC would make a suitable backup to Bitcoin.
Since you can't tell us how Bitcoin is going to fail, please don't presume to also assert that unknown, theoretical failure mode would necessarily be occupied by Litecoin or any (non-merged-mined) altcoin as well.
Of course I can't predict how Bitcoin might fail, which is why I wouldn't choose a coin that's 95% identical to serve as a backup. And yes, considering how similar they are, I will presume that any theoretical failure in Bitcoin will also affect LTC.
^I hope you are right but if I was to guess I think we already finished our breakout and will have a week of consolidation but regardless I'm super long on xmr and will be holding every last one.
low volume no selling weekend breakout coming
Based on BTC price fluctuations in the second half (especially last quarter) of 2015, I expect an inverse relationship with respect to XMR price. A significant portion of XMR owners currently seem to be into trading more than holding. Most traders were eager to get into BTC even for measly BTC rises during the last 5-6 months and unfortunately they determine the short term prices. There is indeed a herd mentality that was demonstrated recently.
XMR developments could potentially change the trend of course. ETH will probably nosedive a lot harder than XMR with a BTC rise. They stole the hedging spot from XMR that was enjoyed by XMR in 2014-early15.
XMR developments could potentially change the trend of course. ETH will probably nosedive a lot harder than XMR with a BTC rise. They stole the hedging spot from XMR that was enjoyed by XMR in 2014-early15.
If we advocate Bitcoin (read: crypto e-cash) becoming a critical system, how can we not also advocate multiple redundant backup systems?
Your "LTC as a backup" argument has never made sense to me.
LTC would fail as a backup because it offers no security balance, and will suffer the same hypothetical fate as its bigger brother. Think about it: if the bitcoin network were suddenly brought to its knees, how would anyone be safer in LTC?
AEON backing up XMR is equally absurd.
I'm no LTC fan (as it has lost it's initial goal, ASIC resistance) but I see where it could survive where BTC would fail as it is still far more decentralized. I really think they should hard fork to a ASIC/GPU resistant algo though. Just in doing it once would show that they would be willing to do it again if ASIC's are designed for it again. But I think that bus has left the station and in the coming years LTC will be right where BTC is now. Doge merged-mining has really helped them though I would say as far as security goes but I don't see that happening again any time soon and will become m00t when difficulty gets high enough.
Yeah, Aeon backing up XMR is an absurd thought. What Aeon should do right now to set itself apart and become a contender for an actual usable currency is... I'm not going to say unless I decide to get in it.
1% of your XMR gets you into Aeon for the same stake.
I also think that it is unlikely that Aeon will ever obtain significant market usage? Is it worth a 1% XMR hedge? In my opinion, absolutely. If something goes wrong with the RingCT XMR fork (very unlikely but always possible), it is nice to have a solid CryptoNote backup network.
For network security I would suggest mining Aeon (solo mine) instead of buying.
If we advocate Bitcoin (read: crypto e-cash) becoming a critical system, how can we not also advocate multiple redundant backup systems?
Your "LTC as a backup" argument has never made sense to me.
LTC would fail as a backup because it offers no security balance, and will suffer the same hypothetical fate as its bigger brother. Think about it: if the bitcoin network were suddenly brought to its knees, how would anyone be safer in LTC?
AEON backing up XMR is equally absurd.
I'm no LTC fan (as it has lost it's initial goal, ASIC resistance) but I see where it could survive where BTC would fail as it is still far more decentralized. I really think they should hard fork to a ASIC/GPU resistant algo though. Just in doing it once would show that they would be willing to do it again if ASIC's are designed for it again. But I think that bus has left the station and in the coming years LTC will be right where BTC is now. Doge merged-mining has really helped them though I would say as far as security goes but I don't see that happening again any time soon and will become m00t when difficulty gets high enough.
Yeah, Aeon backing up XMR is an absurd thought. What Aeon should do right now to set itself apart and become a contender for an actual usable currency is... I'm not going to say unless I decide to get in it.
1% of your XMR gets you into Aeon for the same stake.
If we advocate Bitcoin (read: crypto e-cash) becoming a critical system, how can we not also advocate multiple redundant backup systems?
Your "LTC as a backup" argument has never made sense to me.
LTC would fail as a backup because it offers no security balance, and will suffer the same hypothetical fate as its bigger brother. Think about it: if the bitcoin network were suddenly brought to its knees, how would anyone be safer in LTC?
AEON backing up XMR is equally absurd.
I'm no LTC fan (as it has lost it's initial goal, ASIC resistance) but I see where it could survive where BTC would fail as it is still far more decentralized. I really think they should hard fork to a ASIC/GPU resistant algo though. Just in doing it once would show that they would be willing to do it again if ASIC's are designed for it again. But I think that bus has left the station and in the coming years LTC will be right where BTC is now. Doge merged-mining has really helped them though I would say as far as security goes but I don't see that happening again any time soon and will become m00t when difficulty gets high enough.
Yeah, Aeon backing up XMR is an absurd thought. What Aeon should do right now to set itself apart and become a contender for an actual usable currency is... I'm not going to say unless I decide to get in it.
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