Topic: [XMR] Monero Speculation - page 1512. (Read 3313576 times)

Your metaphor is wrong. It's more like a carnival barker claiming that what is behind the curtain is "Stupendous, mighty, earth shatteringly strong and will destroy all who get in its way!"

Which maybe once or twice should get you to bet against BTC or XMR, opensource technologies that do what they say and how they say it and don't need a manager to pimp their wares. After hearing this over and over again with every new coin that's built on hype and promises, maybe you should be a little less panicky and a little more confident in what is right here in front of you.  

No one is stopping you from betting a little (or everything) on what's behind the curtain, so if you believe all the hype, go for it.

I strongly disagree with this. Monero needs to be private, untraceable, fungible. Nothing more, please.

That by itself is a huge task and responsibility, nothing to take lightly. Without exaggeration it can be a case of live and death. So please don't try to be reasonable good at everything, because then at the same time you are good at nothing. That is ground for the other 99 random altcoins to cover.

Might I interfere with your -otherwise- nicely put thoughts; but the one cannot exclude the other (ie: both coins can achieve greatness). FWIW: I never before got involved with alts (trading-wise). I did so with ETH/EXP rallies and the only thing I done it for, was to gain more BTCs that I used to buy XMR. Funnily enough, I managed to rub out my gains from the recent mini-dump XMR did *right* on the verge of "breakout" point a week ago (240k).

I'm not complaining; trading has these 'features' - it could've been worse if I held ETH instead. I'm just pointing out the obvious, that both coins could co-exist with BTC serving different purposes. This is pretty early stage if we're talking about a black swan. I'd say we wait and see what happens (while keeping our eyes open).

While Monero has three pillars, ZCash has three foibles: 
 
- The existence of Genesis key shards can never guarantee you can trust the Blockchain implicitly. 
 
- Opaque Blockchain means you can never be sure someone hasn't exploited a flaw and counterfeited tokens.  If such a flaw were discovered and patched, you would still never be able trust the Blockchain again. 
 
- Lack of a view key means there is no way to prove you control an address or offer optional auditability without granting control of your funds to another entity. 

Some interesting stuff in that blog. First:


I really don't like the wording "good enough". There could literally be billions of dollars on the line in the future.


This is a major hurdle as well. The original cryptocurrency concept as envisioned by Satoshi is about being decentralized and trustless. Alas, Zcash won't be either of them.

LOL, good one! Remember Peter Parker, before he was bitten by the spider. A 98 pound weakling genius himself, and then he got the spider powers. I just don't want us to have Peter Parker's terrible timing, and Peter Parker's luck!

zcash team is still researching How To Generate SNARK Parameters Securely

This is a oversimplified article about a very complex problem.

Fluffypony's presence at the Satoshi Roundtable is already a huge improvent over the status quo. Furthermore, I think in the upcoming months this will only get better.

If we're using comic book metaphors, I think we're about to become X-Men's Beast - superhuman strength with genius level intellect.

You know where github is, right?

Anyhow,  rushing it would only poison the well.  You don't want to get a reputation as not-ready-for-prime-time, because when you are ready, with all the UX issues nailed, then its too late to catch the next big event-based market need, as everyone has moved on to a lower-grade solution, which has become habitual, stolen the mind-share, gained the network effects &c.

The impediment to marketing is not lack of marketing.  It is lack of readiness for marketing.  To solve that you can fund a project on the forum, and/or provide pull requests.  Personally, I figure the big market need comes in about a year from now, when financial repression gets serious worldwide.  Being ready when that happens will be important.

Meanwhile, we are accruing early adopters on an ongoing basis.  The community is definitely growing.  You can buy more stuff, liquidity is rising, technology and infrastructure is improving in many areas, and not slipping in any significant area.  Prospects are very very good, fundamentally.  

I frankly appreciate the price here.  It's a wee high for accumulation IMO, but I keep dribbling, because, hey, you never know when it moons, and FOMO.  DCA means nothing if you start timing it.  And I've proven to myself that I can fail massively when timing it.  My only really good timing moves (other than buying OTC before polo) have been when I had inside info (or more accurately, public info which I believed while the market remained skeptical).

Very not impressed.  The writer sounds like he's a bit out of the loop.
One:
If you need to "reconnect to the internet ever so briefly," as he writes, then it must mean you are exposing something, whether it be a private key or a passphrase.  You never need to do either of those things.  You can do offline signing and never expose a private key, ever.  You can keep your passphrase software for generating private keys isolated, too.
Two:
If you feel the need to implement a security protocol that includes burning your coins, then you should start looking for a dishwashing job and get food stamps.

To lighten the air, I thought this was neat.  I tried to do a 'highest unique bidder' game on the Doge Blockchain a couple of years ago right before Monero was released.  
  
It obviously failed spectacularly and I learned a valuable lesson from it about why public ledgers are not the ultimate solution.  
  
https://www.reddit.com/r/dogebetting/comments/1u7fwv/game_grand_theft_ɖoge_v_break_into_the_vault/

hey, that's only 7 yuan per capital PRC.  Seems low-ball to me.  Once you run out of 50kUSD smurfs, or that channel gets squeezed, what are you gonna do?

Very much agree on the technical superiority. But what good is that if not enough people know about it? Based on market caps, Monero's technical superiority is not enough to overcome its marketing inferiority (sorry, it pains me to write this). We are the 98 pound genius weakling at the beach. We are still going to get sand kicked in our face. We need to be all 'round good, not excellent, or even the best in some areas, but pitifully deficient in others.

http://www.blockcy.com/bitcoin-vault-making-bitcoin-theft-impossible

Killer app or the nail in the coffin for Bitcoin??

EDIT: https://t.co/UOmKJ1czLh

https://twitter.com/el33th4xor/status/704372103462690816
https://twitter.com/el33th4xor/status/704372301505105920

We have technical superiority. 

Ring signatures in our core are pretty badass.  Privacy and untraceability are not add-ons, or plugins, or features still to be implemented for Monero.

Other coins are touting their privacy as "soon" while their accessibility is "now".  We have the opposite approach - but popular opinion seems to prefer the former.

Some good issues raised but I am sure most people involved are aware of the challenges.

As for the bolded part:

http://coinmarketcap.com/exchanges/volume/24-hour/#USD



EDIT: To be clear I totally support a more even distribution across exchanges but that is obviously up to the exchanges and the traders.

and 15 million USD
Oh, that, LOL. Forgot to mention that. Dunno, but they have it, and we don't. It's yet another strength that they have, and that we have to somehow overcome. Have to hit'em where they ain't. Dogecoin did it with a mascot and a friendly community.

How're we going to do it? Don't know. When some guy attacks me, and he has 50 pounds on me, well, that's an advantage, maybe an unfair one, but I have to overcome it. Or die.

Ethereum is that guy rushing us with 'roid rage, and we're complaining about the illegal juice?!?! Good luck with that.

FTFY.

I'm not shaming. And how is the original post not shaming the Monero developers and community?  

First bold - they buy stock. Monero is not a stock. Its a currency.

You make a few good points and I have said earlier that we shouldn't be so harsh on other guys (who might be unable to do anything) or newcomers. However, at this point the only thing we can do with respect to the GUI is wait until it is finished. Bear in mind that people are now actively working on it, see for instance:

https://github.com/mbg033?tab=activity

https://github.com/mbg033/bitmonero

https://github.com/mbg033/monero-core