Topic: [XMR] Monero Speculation - page 1470. (Read 3313576 times)

Frankly, hedge funds won't invest in Monero until they have an easy way to do so where they don't have to worry about storage (e.g. an ETF/ETN). Furthermore, because of the high volatility they likely won't invest more than 0.01% of their portfolio, if even. Moreover, it might be simply too much of a hassle to research for such a small percentage of their portfolio.

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Well the whole purpose of what I was trying to propose was that you can exchange physical cash to XMR.  I personally just don't like having to deal with banks and feel that it is possible that there will be a time where banks will ban, or severely reduce/regulate all transactions to these exchange sites for Bitcoin or any other cryptocurrencies such as XMR.

With the concerns of breaking the "safe" to get cash if XMR prices go south, I feel there can potentially be a way to alert the exchange site if the thing that is collecting the cash has been tampered with in any way; then when that theoretically happens, funds could go out of your cold storage.

I guess you could simply just send cash through mail... but that is a lot less secure I would think.  I wouldn't know what kind of overhead would have to go through all of this, but it was just a thought that I conjured up and wanted to hear what feedback you guys had.  I just feel the same way as others when I hear people say, "Man, I wish I could just convert my cash instantly to [insert coin here]".  It would just be nice to have something sitting in the corner of the room and deposit some change or spare fiat lying around to XMR, and then send it back whenever.  The exchange online would be able to track how much you have purchased at some given time, and then update your account on the exchange site to say you have "this much" XMR.

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.

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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.  

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

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

More generally, a simple, private method for xmr <-> Fiat conversion would be a killer feature.

While I do love reading their posts, I think in the eyes of a typical hedge fund manager, they will seem like someone who has unrealistic aspirations for something the person they are pitching too hardly knows anything about.  Now, if they were to learn to tone it down a notch and pitch this stuff in a way fluffypony would, which is in a more realistic and conservative manner, then I think they would be willing to listen a lot more.

I mean, I still think we have a long way to go before hedge fund managers will be looking toward cryptocurrencies to put their investors funds into.  There's an incredible amount of material to teach people about what's factual about cryptos and what's not.  There's still a stigma around cryptos that it's only for criminals on the dark web... so in that aspect, there would need to be someone to present the facts to people such as hedge fund managers; rather than promising yachts. 

Please take no offense, but it's really unrealistic to promise someone thousands or millions of dollars for something that's so far in its infancy.

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These days may not be long way from now. Someone with good pitching skills (icebreaker or american Pegasus for instance) could start pitching all the hedge fund managers in the world. It is enough if only 5 will participate to the war. Taking action in this manner will bring Monero even as high as 1 000 000 usd/xmr so even a modest investment will make you rich. The more you invest the sooner you will be rich. The smaller the investment the more patient you need to be.

The early fiat hyperinflation to $5 is just a preview of the future.  It indicates people look at Monero and are then willing to pay $5 fiat fun-bucks for a single coin.

That situation, where demand is vastly greater than the supply, only existed in the early days when total emission was low, but shortages may return as block subsidies inexorably decline.

Bitcoin similarly spiked after the first exchange.  

I observe that, if you disinclude the listing spike, in USD terms, the recent highs were in fact all-time highs.  (Mentioned since the ATH is so fetishized.)

a simple, private method for xmr <-> Fiat conversion would be a killer feature.