Topic: [XMR] Monero Speculation - page 1614. (Read 3313576 times)

One theory is that XMR will basically be flat in USD as BTC rises until an inflection point where money starts spilling over into alts. So it will appear that XMR is perpetually crashing (in BTC) until it's suddenly not.

It's hard to say when that inflection point will be. I'm still holding some bitcoin, but if we get to $800-$1000, I plan to finish moving out and be 100% in XMR, other alts (which I'm not going to shill for), and fiat. A real crypto-boom will not be limited to BTC, although it will seem that way at first.

It's crashed from ~40 cents to ~50 cents!

I wonder when it will crash up to $1.   

Monero have been crashing for a while now. Just wondering what's causing it?

I doubt those charts take into account bah allowance nor clothing allowance if offbase or the fact that all housing and food is supplied.

same here, been there done that, tropical islands can make you crazy if you stay long enough there..after some time, you cant see those perfect sunsets anymore, too much kitsch for me.
also i realized that flora and fauna is not as rich in those hot places like in places where there is snow too. after realizing this my interest in european nature was big again and i enjoyed discovering my local nature. this was some years ago and it still holds up, maybe i just had a beach overdose back then

but yeah sometimes i still dream of places like bora bora.. maybe one day for real, beach life is so easy, but too much sun+alcohol will make you stupid

range for me would be somewhere between 10 and 20$ where it would justify to do it full time(whatever i do)..if it ever goes somewhere close to 100$ you will know medusa is going crazy 24/7 playing the markets. living the beachlife again wont have a lot to do with moneros price. its more a logistical thing since you need to pause your old life for some time. money helps, but living the real beachlife is more kind of a mindset, which costs nothing.

the world offers a lot, dont need to have a fortune. in asia you can easily life a good life with 1$k per month and enoy a lot of postcard like beaches and stunning nature.

for me, beach would be way too boring to retire anyway

btw price back down to 105k, bids down to ~60btc. always huge % swings in this region, buying at 100k was always a good trade until now, so lets see.

I completely agree with this statement at this point in time.

Bitcoin is still tiny compared for example to the Somalian subset of the hawala network.

https://en.wikipedia.org/wiki/Hawala#Horn_of_Africa

Ignore the traditional fiat nonsense; focus on System D.  The fiat will burn itself out as the paper inevitably returns to its intrinsic value.

Watch out informal remittance systems, we're gunning for ya!   

No, agreeing!

At least, I agree it is immense relative to Monero. It is tiny relative to the traditional fiat currency system.

A store of value cannot be the same as having to divide it into multiple different accounts or safety deposits just for privacy. A public record of the amount of something one holds can be tax liens, criminal records and convictions, not my money. The value of a unit inside an address is immaterial. It just cannot be a safe store of value.




Are you disagreeing that Bitcoin has immense network effect?

Sorry man, like Cryptonote, the plan has evolved while you weren't looking.  The plan now is to buy Dracula's castle and the surrounding land and restore/add-on/promote it as one of the greatest tourist destinations on the planet.  
  
I have realized that there is only one way to manage the castle equivalent of the Playboy mansion, and so I will need to introduce a definite rank structure for all of the staff.  Staff may start out with very little to their name, but every year worked on the property brings increasing benefits, salary, and perks regardless of your job - some are maids, some cooks, and some just get to lay around in a mermaid costume by the pool all day.  
  
We will be highly selective about those we hire, and exceptionally reward those who spend an entire career working and living at the castle.  
  
This is the only way to go.  
  
If you are some crypto-mogul who invites 70 Instagram models to come live with you, all at the same time, and all on the same initial level, you can expect nothing but frustration and headaches for the rest of your days.  
  
You may also get to find out what it's like to be worth a billion dollars.... After being one of history's first trillionaires.  

$20 if it held for a while. Not because my XMR would be worth so much but only because I'd see enough potential to work on it full time (not necessarily core, but some aspect of it). I already spend a lot of time on the beach, so no biggie there. But remember, the plan includes one beautiful woman from each continent and I'm a few continents short currently.

This is a really fun website: http://www.dfas.mil/militarymembers/payentitlements/military-pay-charts.html

Check out historic pay for US military members throughout the years.  You'll see that as early as 1995, military members with 10 years of experience were being given a basic pay of as little as $13,000 a year.  The further you go back, the more ridiculous the inflation becomes evident.  You can see back in 1970 how someone with significant rank and experience would only get a basic pay of about $500 a month!

 
 
Here's hoping this is our "2011" in the coming year. 
 
I just made a post on /r/Monero asking people what would be their magic number that Monero would have to hit before they quit their day job and retired to beaches and room service or went full-Ver.  My magic number is about $400.  Feel free to share yours.

Mostly agree with wachtwoord here although I think limiting it to the utility of the Bitcoin network is taking it too far. Expecting to be able to exchange that value into a useful amount of other goods is also a part of it.

All sorts of assets can be considered as stores of value, including all manner of investments, even if they don't have a constant or nearly-constant exchange rate. All that is required is a reasonable expectation of it having value in the future.

"Store of value" is one function of ideal money, but the definition doesn't go in the other direction; other assets can also serve.

That's overstating things a bit since you can have as many Bitcoin addresses as you want.



And that.

I just checked it. You're right.

https://en.bitcoin.it/wiki/Category:History#2010

laszlos famous pizza purchase at 10,000 BTC for ~$25 worth of pizza is .0025 BTC per pizza and that was in May.

.07 USD per bitcoin wasn't reached until after October 2010.


.29 / .0008 = 362.5

So 2010 was more like a 36,250% increase?

Full transparency of historical transactions as well as displaying the actual amount on a public address cannot be a long term "Store of Value". I don't want anyone to know how much "money" is associated with my address, that is a fundamental that Bitcoin can never overcome.

What we do see is an immense network effect in Bitcoin.

No it does not. That is a stupid way to measure as it would make Euros themselves the best store of value. Fiat currencies lose value really quickly because they are diluted. Look up the prices of things in the US in 1900 and you'll see.

Bitcoin is a store of value because you still own the same percentage of the utility of the Bitcoin network today and tmw (because it is non-inflationary). As long as the utility does not go down (and the utility is exponentially rising due to the networking effect) you still own the same utility by owning the same percentage of the entire network and so haven't lost any value. This is true with Bitcoin at $0.01 and $5T.

I dispute that figure of 0.07 USD for 1 XBT on January 01, 2010. The figure was closer to 0.0008 USD. This would imply a fast declining rate of growth as the demand approaches the fixed 1 MB blocksize limit in Bitcoin.

I would say that a mix of 75% USD 25% XMR beats XBT as a store of value hands down.