Topic: [XMR] Monero Speculation - page 1468. (Read 3313576 times)

With finex now offering eth from monday it seems that this would be a good time to pump monero up to new highs and widen the story to an alt-coin bubble..

Almost certainly passed out from the aftereffects by this time 

Notice polo is like a rubber room?  bump into the walls, and they just move

You are the Sokrates of Monero, please keep posting  .

If you know enough to know that you don't know, then you know a lot more that a lot of people who know that they know a lot more.

Guys cmon... Let's be real with this hedge fund bullshit. We're going to do more harm than help if we were to pitch monero to a hedge fund right now. Unless that hedge fund manager is computer literative, he/she is going to have to store their stash on mymoner.com and let's be honest, that's not how you want to pitch an idea to a hedge fund. Pet focus on the now before we get ahead of ourselves here.

I was thinking the other night about something that could possibly fix this issue, in a "thinking outside the box" type of way.  When thinking about this, I was thinking "for the sake of anonymity" rather than the cost of how to do something like this.

It is no doubt that the most anonymous way to buy Bitcoins is to buy in cash.  People are sometimes hesitant to do something like this, because that would have to involve a high amount of trust to the seller that the person won't just rob you and probably would be hard to coordinate a time and place that would satisfy both the buyer and the seller... and so on.

The better suggestion would be then to tell someone to go to a Bitcoin ATM.  Problem with this is the obvious one that there are usually no Bitcoin ATM's in someones location and that person would have to travel hundreds of miles to go somewhere, usually a big city, that has one of these things at some store.

So here is what I was thinking:

Now I know that this would require some initial investment from the buyer... but here it goes.
What if you could order a small "safe" that could be shipped to someones house that is capable of hooking up to wifi or just a direct internet connection.  It could be shipped via UPS to someones door or P.O. box, and then you can use that "safe" to connect to some theoretical exchange site; where you can insert fiat into the machine (kind of like a vending machine) that allows you to "purchase" XMR.

Each time you insert X amount of fiat in the machine, it allows you to purchase Y amount of XMR in USD/XMR; rather than BTC/XMR through the exchange at that specific point in time.  You can keep the machine as long as you'd like, and while you keep the machine, every XMR you purchase will be kept in cold storage held by the exchange.  Then when you feel like "cashing in" on all the XMR you have purchased, you can ship back your "safe" to the exchange address.  Finally the people at the exchange would be able to check that the safe hasn't been tampered with and also that the correct amount of fiat is in the safe; which then afterward they will release XMR to your specified address.

---

I know this would require some initial investment on part of the people who would want to run an exchange (plus the people wanting to purchase XMR) like this; but I feel like this would be an absolute killer way to purchase XMR, and cryptocurrencies in general; which would be purchased with spare cash they have on hand, not having to deal with banks, somewhat anonymous (especially when sending to a P.O box), etc.

Could just be a pipe dream I had though... whatever, I thought I would share with you guys though.  

Buying the price rapidly up to $1 000 000 is more than a little ridiculous.  Even several large accumulators would not do that.  OTC buys would be more likely, which would have less effect on exchange prices.  Even buying on exchange though, the realstic methods would be to eliminate price drops, while working the price higher like the inexorable (there's that lovely word again) tide.  Kind of like, oh, I don't know... 2016 so far 

Actually it is pretty fair.  The BitcoinATM near my office in the city charges at 8.6% premium for buys.  The one in LES does btc to fiat, requires KYC, and charges some serious double-digit premium on sells, like crazy bad, that I have erased from my memory as a traumatic experience.  Well, fair compared to outright rape, that is.

Yes it looks like a move in the right direction, thanks for collecting the links I'll reply with them.

I would recommend everyone else does as well.


ADDED:

OK, here is a letter I've compiled with Debruyne's provided information. What changes would you guys recommend?

Indeed premium is typical of ATMs and online brokers (they have some advantages over exchanges, you pay for that difference).
But "387.064831 minimum purchase", that's really nuts...

For the love of God can some exchange please let me buy XMR with US Dollars.  I mean really, I hate Bitcoin transaction speeds.  Over an hour now to transfer BTC from Coinbase to HitBTC.   Another reason Bitcoin is falling behind not enough nodes out there to process payments or transactions faster.   Ok rant over.

Actually, that would not speed transactions because the same average number of blocks would be found per hour.

What you really are ranting about is block size...

. FWIW be careful with hitbtc.  I have had coins locked up over there for days before.

Coinbase creates two (apparently low-fee) tx for every BTC withdrawal.  They are flooding the system to push the Classic agenda.

Solution?  Stop using CoinBank!

I was thinking the other night about something that could possibly fix this issue, in a "thinking outside the box" type of way.  When thinking about this, I was thinking "for the sake of anonymity" rather than the cost of how to do something like this.

It is no doubt that the most anonymous way to buy Bitcoins is to buy in cash.  People are sometimes hesitant to do something like this, because that would have to involve a high amount of trust to the seller that the person won't just rob you and probably would be hard to coordinate a time and place that would satisfy both the buyer and the seller... and so on.

The better suggestion would be then to tell someone to go to a Bitcoin ATM.  Problem with this is the obvious one that there are usually no Bitcoin ATM's in someones location and that person would have to travel hundreds of miles to go somewhere, usually a big city, that has one of these things at some store.

So here is what I was thinking:

Now I know that this would require some initial investment from the buyer... but here it goes.
What if you could order a small "safe" that could be shipped to someones house that is capable of hooking up to wifi or just a direct internet connection.  It could be shipped via UPS to someones door or P.O. box, and then you can use that "safe" to connect to some theoretical exchange site; where you can insert fiat into the machine (kind of like a vending machine) that allows you to "purchase" XMR.

Each time you insert X amount of fiat in the machine, it allows you to purchase Y amount of XMR in USD/XMR; rather than BTC/XMR through the exchange at that specific point in time.  You can keep the machine as long as you'd like, and while you keep the machine, every XMR you purchase will be kept in cold storage held by the exchange.  Then when you feel like "cashing in" on all the XMR you have purchased, you can ship back your "safe" to the exchange address.  Finally the people at the exchange would be able to check that the safe hasn't been tampered with and also that the correct amount of fiat is in the safe; which then afterward they will release XMR to your specified address.

---

I know this would require some initial investment on part of the people who would want to run an exchange (plus the people wanting to purchase XMR) like this; but I feel like this would be an absolute killer way to purchase XMR, and cryptocurrencies in general; which would be purchased with spare cash they have on hand, not having to deal with banks, somewhat anonymous (especially when sending to a P.O box), etc.

Could just be a pipe dream I had though... whatever, I thought I would share with you guys though.  

Well the scenario that hedge fund managers even taking the time to listen to someone promoting an altcoin to bitcoin, which is regarded as a criminal tool used to buy drugs, guns, etc; is just as highly unlikely as well.  Theoretically speaking, I would think talking to someone in a more conservative manner while presenting facts about the pros and cons of XMR looks better than promising 1000X per investment right off the bat... looks less like a scam in my mind, and I would think the same for investors who have no idea what the uses for cryptos are; besides what the media portrays.

Cash to XMR is already available using AltQuik (sp?) as long as you are not in New York

XMR for sale: 1167.968666
( 387.064831 minimum purchase)
USD required: 1357.8756
XMR / USD : 1.162596 

They are babbling in the Polo troll box about some ETH "news" but I have no idea if it is actually a thing.  The Monero sells started when ETH started going up so.........

EDIT:  43K buy wall back at 250, what do I know