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Topic: [XMR] Monero Speculation - page 1847. (Read 3314350 times)

legendary
Activity: 2968
Merit: 1198
July 09, 2015, 02:34:07 AM
What do u think about VNL coin tech?

Do you have something substantial and relevant to say about it, or are you just spamming?
legendary
Activity: 1092
Merit: 1000
July 09, 2015, 02:22:43 AM
I would not worry so much about a coin that comes with superior technology.
We have seen that bitcoin has a tech from 2008 with improvements of developers.
Basically the only advantage bitcoin has over the other coins is the network of bagholders.
In my opinion, techwise Monero is good enough  to replace bitcoin as it doesn't have public blockchain. Also bitcoin network is getting filled with transactions and a confirmation takes awfully long time. Sometimes even more than 1 hour it takes to get even the first confirmation.
I am looking forward to the era when Monero gets own fiat exchange and this will make bitcoin useless as bitcoin is a mere token for buying Moneros.  Wink Grin Cool
hero member
Activity: 744
Merit: 500
July 09, 2015, 01:17:55 AM
What are your price predictions? No real support until 180k satoshis. Big sell walls at 226, 250, 300K.

5 years from now I think XMR will either be under 1,000 satoshis (some major unknown flaw is found or new superior tech comes along and manages to replace XMR before it can establish itself as the clear market leader) or over .25 B^C (XMR becomes the primary coin for those who want fungibility. I would say it could go higher than .25 BTC but in 5 years I think some of the old guard may still be trying to stick with BTC via sidechains for privacy despite its drawbacks)

Keep in mind when I say .25 BTC I mean .25 BTC

I think BTC prices will be much higher in fiat terms 5 years from now so .25 BTC in 5 years is likely to be much more in fiat terms than .25 BTC today

XMR has great potential, but the risk for ruin remains

What do u think about VNL coin tech?
hero member
Activity: 770
Merit: 504
July 08, 2015, 09:49:00 PM
Well, I would agree that the difference in lifestyle between a billionaire and a millionaire is probably less significant than between a millionaire and a thousandaire.  
  
However, perhaps you have never tasted wealth.  
  
Let me tell you what happens, believe it or not.  At first, it feels just as you would expect it to.  Amazing...  Miraculous...  Magical...  You can't believe this is really happening to you.  
  
This feeling lasts for months.  Then, it begins to dull.  This isn't wealth anymore.  This is just life.  You deserve these things and are used to them.  
  
For example, let me assume you are currently middle class.  Imagine suddenly moving to a trailer park and living off of microwave dinners with a beat up jalopy car...  That is how you will slowly come to view your *current* middle class existence...  Basically, you won't want to go back.  Also, you will bore of the luxuries that wealth brings.  When life turns into a permanent vacation of booze, beaches, shopping, and gorgeous women, you initially think that you won't need anything else.  
  
But over time you will begin to suspect that many of the friends you make only hang out with you because of your money and status (because it's true) and you will find that swimming in the trappings of wealth is an ultimately hollow existence.  You will begin to crave more power and influence, and begin thinking of ways to leave your mark on the world.  After all, you are so great right?  Shouldn't you do something or build something really big?  It's not about survival or comfort anymore...  It's about mattering in the grand cosmic scheme.  
  
And you know what?  A billionaire can do a fuck of a lot more to finance mega projects than a millionaire can.  This is why people aren't happy stopping at millionaire.  
  
The human mind is wired to always look upward towards the next rung of the ladder, and when you finally find your wealth, you will too.
hero member
Activity: 798
Merit: 1000
21 million. I want them all.
July 08, 2015, 09:29:02 PM
I don't care enough to re-research. 
 
I was basically googling "how much is all the silver on earth worth" and found a website that put a bunch of mining and holding numbers together and calculated it to be worth about 1 trillion. 
 
Perhaps they were wrong.

Anyway, another nitpick is that I doubt I'd kick myself if I bought some thousands of XMR at, say, $00.34 and sold at $2000. There is a declining marginal utility of wealth. At a certain piont, your life stops changing significantly.
hero member
Activity: 770
Merit: 504
July 08, 2015, 09:11:59 PM
I don't care enough to re-research. 
 
I was basically googling "how much is all the silver on earth worth" and found a website that put a bunch of mining and holding numbers together and calculated it to be worth about 1 trillion. 
 
Perhaps they were wrong.
hero member
Activity: 798
Merit: 1000
21 million. I want them all.
July 08, 2015, 08:51:50 PM
Well, all the world's gold is worth about 8 trillion dollars.  
  
All the world's silver is worth about 1 to 2 trillion dollars.  
  
Not sure about platinum.  
  
Also consider that the world reserve currency doesn't last forever, as we are seeing with the zenith of the U.S. Dollar.  It's silly to expect that bitcoin would forever hold that top spot, and indeed, with the accelerating technological progress towards the singularity, bitcoin may well indeed be supplanted by Monero (which wouldn't be catastrophic).  
  
Bitcoin and Monero fill two totally different needs.  Bitcoin is a slow, lumbering blockchain that is completely public.  It is wonderfully suited for large scale transfers between governments and businesses that people want to do openly.  For this reason I would expect that bitcoin will become further centralized and the price must rise as well.  The future "digital gold" will have some unique characteristics to it.  
  
Monero will act as a perfect currency, and when nations or businesses need to transact in secret, this will be the one they turn to.  I see no reason why bitcoin and Monero can't *both* be worth an XX-trillion dollar cap someday.  Remember crypto isn't any asset class that has existed before it.  It doesn't necessarily follow all the old rules.  
  
It was very wise to set an initial limit of Monero at a number comparable to bitcoin's limit.  This actually plays a psychological trick on the future public who just want things to be simple.... bitcoin is public and Monero is private.... both have about 20 million total macro-units.  Therefore, to my simple monkey brain, it would follow that both should be valued at about 1:1.  
  
Think of the Euro and Dollar, or the Euro and the Pound.  These joust in value due to geographic restrictions, and it's likely that bitcoin and Monero may joust in value due to functional restrictions.  
  
Honestly, I think that if (when) Monero rises to $2000 each, those who sell out of the majority of their stake are going to be cursing themselves for the rest of their life when it goes on to become one of the world reserve currencies by 2030 and is worth around $300,000 each.  
  
Remember, money is made up, as is the value assigned to it.  Monero is worth whatever people *believe* it is worth.  And with the first private blockchain that can be accessed by the entire world?  The value of these things as we go forward is going to dwarf any reasonable number that you think it should be valued at... simply because our monkey brains aren't equipped to deal with the ramifications of an entire species suddenly wanting the same scarce resource in a 10 year period.... this will go down in history as crypto-mania.... and will be the greatest wealth transfer in history.  
  
You are fucking lucky to be reading this in 2015.  
  
Now, what good are you going to do for the world with your wealth?  Everyone is going to have seven wives and a waterfall pool, but don't be as selfish as the last crop of ultra-rich.  Use your wealth to make our species better, and don't horde it like a bunch of fucking Smaugs.

Isn't silver's market cap less than 50 billion dollars?

http://rt.com/op-edge/silver-hedge-bitcoin-position-274/
hero member
Activity: 770
Merit: 504
July 08, 2015, 08:40:10 PM
Well, all the world's gold is worth about 8 trillion dollars. 
 
All the world's silver is worth about 1 to 2 trillion dollars. 
 
Not sure about platinum. 
 
Also consider that the world reserve currency doesn't last forever, as we are seeing with the zenith of the U.S. Dollar.  It's silly to expect that bitcoin would forever hold that top spot, and indeed, with the accelerating technological progress towards the singularity, bitcoin may well indeed be supplanted by Monero (which wouldn't be catastrophic). 
 
Bitcoin and Monero fill two totally different needs.  Bitcoin is a slow, lumbering blockchain that is completely public.  It is wonderfully suited for large scale transfers between governments and businesses that people want to do openly.  For this reason I would expect that bitcoin will become further centralized and the price must rise as well.  The future "digital gold" will have some unique characteristics to it. 
 
Monero will act as a perfect currency, and when nations or businesses need to transact in secret, this will be the one they turn to.  I see no reason why bitcoin and Monero can't *both* be worth an XX-trillion dollar cap someday.  Remember crypto isn't any asset class that has existed before it.  It doesn't necessarily follow all the old rules. 
 
It was very wise to set an initial limit of Monero at a number comparable to bitcoin's limit.  This actually plays a psychological trick on the future public who just want things to be simple.... bitcoin is public and Monero is private.... both have about 20 million total macro-units.  Therefore, to my simple monkey brain, it would follow that both should be valued at about 1:1. 
 
Think of the Euro and Dollar, or the Euro and the Pound.  These joust in value due to geographic restrictions, and it's likely that bitcoin and Monero may joust in value due to functional restrictions. 
 
Honestly, I think that if (when) Monero rises to $2000 each, those who sell out of the majority of their stake are going to be cursing themselves for the rest of their life when it goes on to become one of the world reserve currencies by 2030 and is worth around $300,000 each. 
 
Remember, money is made up, as is the value assigned to it.  Monero is worth whatever people *believe* it is worth.  And with the first private blockchain that can be accessed by the entire world?  The value of these things as we go forward is going to dwarf any reasonable number that you think it should be valued at... simply because our monkey brains aren't equipped to deal with the ramifications of an entire species suddenly wanting the same scarce resource in a 10 year period.... this will go down in history as crypto-mania.... and will be the greatest wealth transfer in history. 
 
You are fucking lucky to be reading this in 2015. 
 
Now, what good are you going to do for the world with your wealth?  Everyone is going to have seven wives and a waterfall pool, but don't be as selfish as the last crop of ultra-rich.  Use your wealth to make our species better, and don't horde it like a bunch of fucking Smaugs.
hero member
Activity: 798
Merit: 1000
21 million. I want them all.
July 08, 2015, 05:11:07 PM
What are your price predictions? No real support until 180k satoshis. Big sell walls at 226, 250, 300K.

5 years from now I think XMR will either be under 1,000 satoshis (some major unknown flaw is found or new superior tech comes along and manages to replace XMR before it can establish itself as the clear market leader) or over .25 B^C (XMR becomes the primary coin for those who want fungibility. I would say it could go higher than .25 BTC but in 5 years I think some of the old guard may still be trying to stick with BTC via sidechains for privacy despite its drawbacks)

Keep in mind when I say .25 BTC I mean .25 BTC

I think BTC prices will be much higher in fiat terms 5 years from now so .25 BTC in 5 years is likely to be much more in fiat terms than .25 BTC today

XMR has great potential, but the risk for ruin remains

If any coin breaches 20-25% of the entire crypocurrency market cap, it has a chance at becoming #1 and supplanting bitcoin. XMR would be in that position at 0.25 XMR/XBT.  But I don't think we should hope for that. It sets a very bad precedent if the king of cryptocurrencies (bitcoin) were exposed as but a mere mortal. Even if bitcoin ends up being slow with high fees compared to other cryptocurrencies, it can still offer the heaviest confirmations, the longest history, and the most cultural capital. I'd like to see XMR at #2 with 10% of the total cryptocurrency market cap. Faster, more fungible, and more decentralized. Perfect for commerce.  
hero member
Activity: 686
Merit: 500
July 08, 2015, 04:20:23 PM
What are your price predictions? No real support until 180k satoshis. Big sell walls at 226, 250, 300K.

5 years from now I think XMR will either be under 1,000 satoshis (some major unknown flaw is found or new superior tech comes along and manages to replace XMR before it can establish itself as the clear market leader) or over .25 B^C (XMR becomes the primary coin for those who want fungibility. I would say it could go higher than .25 BTC but in 5 years I think some of the old guard may still be trying to stick with BTC via sidechains for privacy despite its drawbacks)

Keep in mind when I say .25 BTC I mean .25 BTC

I think BTC prices will be much higher in fiat terms 5 years from now so .25 BTC in 5 years is likely to be much more in fiat terms than .25 BTC today

XMR has great potential, but the risk for ruin remains
hero member
Activity: 744
Merit: 500
July 08, 2015, 03:07:21 PM
What are your price predictions? No real support until 180k satoshis. Big sell walls at 226, 250, 300K.
legendary
Activity: 1092
Merit: 1000
July 08, 2015, 02:59:52 PM



The next step after 1-5 fiat exchanges solely focusing on Monero (not multicoin exchange) is to build an ETF type of an instrument and bring it to stock markets. That's going literally open a heaven for a small coin like Monero if it will be executed as there is wealth worth of billions and even trillions in stock markets.

Yes ofcourse....   Roll Eyes  Keep dreaming  Cheesy


Might sound distant but if everything goes as planned (Risto planned in Polo trollbox on 2014 that each Monero will be 2000 usd worth). However, I realize, that this is if everything goes as planned.
However, judging this community I think we have the best possibility among all the alt coins to reach there. If Monero will not do it, then probably no other alt will do it either.

I am looking forward to Risto's calculations on how much each Monero will cost if Monero will take the throne of Gold bullion as a store of value in the world.
Boy, I think it is bullish news if Risto still does these calculations.  Grin
hero member
Activity: 888
Merit: 500
July 08, 2015, 11:37:35 AM



The next step after 1-5 fiat exchanges solely focusing on Monero (not multicoin exchange) is to build an ETF type of an instrument and bring it to stock markets. That's going literally open a heaven for a small coin like Monero if it will be executed as there is wealth worth of billions and even trillions in stock markets.

Yes ofcourse....   Roll Eyes  Keep dreaming  Cheesy
legendary
Activity: 2156
Merit: 1072
Crypto is the separation of Power and State.
July 08, 2015, 10:58:19 AM
The next step after 1-5 fiat exchanges solely focusing on Monero (not multicoin exchange) is to build an ETF type of an instrument and bring it to stock markets. That's going literally open a heaven for a small coin like Monero if it will be executed as there is wealth worth of billions and even trillions in stock markets.

ETF creation, even using the best crony capitalists available, involves aeons of Herculean compliance tasks.

A nice shortcut is a pink sheet listing for an OTC ETN:

Quote
BIT is taking a shortcut, permitted by a rule that that allows holders of a private fund to sell their shares publicly after a 12-month lockup period and completing a less arduous approval process

Risto has held his XMR for about 12 months now...just sayin'   Wink

Of course the markets are melting down ATM, so stuffing the old Roth IRA with XMR isn't as appealing as it used to be.   Tongue
legendary
Activity: 1092
Merit: 1000
July 08, 2015, 10:34:48 AM
I speculate the Monero interest rates going down as there is barely nobody shorting it.
Therefore I withdrew a few thousand Moneros from the lending markets outside of Poloniex.
I think the fiat exchanges are a huge potential for XMR.
In the beginning the fiat might be scarce in those exchanges and Moneros plentiful as it is easier/faster to transfer Moneros than fiat, unless the owners of the exchange has a liquidity to provide it (or liquidity is asked from a target investors for the launch).

The fiat exchange enables a lot good things such as well functioning merchant tools (like bitpay) as the Moneros can be sold back to the markets if a merchant wishes so. Obviously it is in our best interest that the merchants will not do it/they have an incentive not to do it at least immediately. An incentive can be a potential rise of the exchange rate.

With fiat exchanges there is really a huge potential to grow this community. Then it can be easily marketed for hedge funds, venture capitalists and so on.

The next step after 1-5 fiat exchanges solely focusing on Monero (not multicoin exchange) is to build an ETF type of an instrument and bring it to stock markets. That's going literally open a heaven for a small coin like Monero if it will be executed as there is wealth worth of billions and even trillions in stock markets.
legendary
Activity: 1260
Merit: 1008
July 08, 2015, 10:15:56 AM
http://itsalmo.st/#chinatime

August 8th will be an exciting day for Monero in China

Could you elaborate why?

PS: You can buy XMR with USD here -> https://www.altquick.co/buy-2.php?coin=XMR

(thanks to othe for finding it)

Details are still being worked on so I don't want to say too much yet.  Basically the goal is to make as many Chinese people as possible aware of Monero through social and traditional media.  Focus will be on education with new resources andBTC  Financial privacy with fungibility and optional transparency is a new concept but one that should be very attractive.

Thank you for the altquick link. I was not aware of that business. The more XMR fiat exchanges we have the better. Future regulations/restrictions for this type of business will always be an unknown in China, USA and other countries. Localbitcoins P2P model may be potential long term solution. Moneroclub.com could use more traffic

Is there a funded/bounty initiative for translations and is it managed by anyone in particular?

I see 675 xmr pledged so far
https://bitcointalksearch.org/topic/m.11777868

I suggest someone (who is trusted by the community) start a thread here to manage this:
https://forum.getmonero.org/8/funding-required

Transifex is still a better long term solution, but much work needs to be done right now.

lets move this discussion to main ANN (i quoted that one post above). I speculate bananas.
full member
Activity: 122
Merit: 100
July 08, 2015, 10:07:26 AM
http://itsalmo.st/#chinatime

August 8th will be an exciting day for Monero in China

Could you elaborate why?

PS: You can buy XMR with USD here -> https://www.altquick.co/buy-2.php?coin=XMR

(thanks to othe for finding it)

Details are still being worked on so I don't want to say too much yet.  Basically the goal is to make as many Chinese people as possible aware of Monero through social and traditional media.  Focus will be on education with new resources andBTC  Financial privacy with fungibility and optional transparency is a new concept but one that should be very attractive.

Thank you for the altquick link. I was not aware of that business. The more XMR fiat exchanges we have the better. Future regulations/restrictions for this type of business will always be an unknown in China, USA and other countries. Localbitcoins P2P model may be potential long term solution. Moneroclub.com could use more traffic

Is there a funded/bounty initiative for translations and is it managed by anyone in particular?

I see 675 xmr pledged so far
https://bitcointalksearch.org/topic/m.11777868

I suggest someone (who is trusted by the community) start a thread here to manage this:
https://forum.getmonero.org/8/funding-required

Transifex is still a better long term solution, but much work needs to be done right now.
legendary
Activity: 2268
Merit: 1141
July 08, 2015, 09:35:55 AM
http://itsalmo.st/#chinatime

August 8th will be an exciting day for Monero in China

Could you elaborate why?

PS: You can buy XMR with USD here -> https://www.altquick.co/buy-2.php?coin=XMR

(thanks to othe for finding it)

Details are still being worked on so I don't want to say too much yet.  Basically the goal is to make as many Chinese people as possible aware of Monero through social and traditional media.  Focus will be on education with new resources and hopefully translations of existing content (everyone please help translate).  Financial privacy with fungibility and optional transparency is a new concept but one that should be very attractive.

Thank you for the altquick link. I was not aware of that business. The more XMR fiat exchanges we have the better. Future regulations/restrictions for this type of business will always be an unknown in China, USA and other countries. Localbitcoins P2P model may be potential long term solution. Moneroclub.com could use more traffic

You're welcome. It sounds promising and I hope it will be fruitful. Whether you like it or not, the Chinese are a big part of the cryptocurrency community, so they should be addressed accordingly.
full member
Activity: 122
Merit: 100
July 08, 2015, 09:16:51 AM
http://itsalmo.st/#chinatime

August 8th will be an exciting day for Monero in China

Could you elaborate why?

PS: You can buy XMR with USD here -> https://www.altquick.co/buy-2.php?coin=XMR

(thanks to othe for finding it)

Details are still being worked on so I don't want to say too much yet.  Basically the goal is to make as many Chinese people as possible aware of Monero through social and traditional media.  Focus will be on education with new resources and hopefully translations of existing content (everyone please help translate).  Financial privacy with fungibility and optional transparency is a new concept but one that should be very attractive.

Thank you for the altquick link. I was not aware of that business. The more XMR fiat exchanges we have the better. Future regulations/restrictions for this type of business will always be an unknown in China, USA and other countries. Localbitcoins P2P model may be potential long term solution. Moneroclub.com could use more traffic
legendary
Activity: 2268
Merit: 1141
July 08, 2015, 08:47:32 AM
http://itsalmo.st/#chinatime

August 8th will be an exciting day for Monero in China

Could you elaborate why?

PS: You can buy XMR with USD here -> https://www.altquick.co/buy-2.php?coin=XMR

(thanks to othe for finding it)
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