Topic: [XMR] Monero Speculation - page 192. (Read 3313076 times)

What actually happened:

And an awesome community...  I mean compared to BTC, XMR's community is less uptight and more easy going...  And less taking themselves seriously.  Seriously.  

Yeah, except for the GUI, RingCT, bulletproofs, updated PoW algorithm, LMDB, mandatory minimum ring size and decoy selection that doesn't completely suck to the point of being useless, and a million other things that actually make it not shit.

Also next week?  Probably?

Shit, wish I had waited to buy last week.
Well there is always this week.

monero is just a bytecoin clone  lol

Dash is just a Bitcoin clone with discarded technology on top of a ponzi scheme (masternodes).

Monero, on the other hand, is unique both in code and features, and basically got all the main fundamental points right, btw, Articmine videos on youtube are some of the best explanations of the economics of Monero: https://www.youtube.com/watch?v=0EKuEfOI86I   https://www.youtube.com/watch?v=ECqcf-Nyjmw

Maybe the psychology in the market at the particular time he did it, but no masternode coins are doing very well anymore at this point. Seems to be just one of many crypto fads whose time came and went. Duff looks like a one hit wonder to me, which likely makes it more luck than genius.

Contrast with Larimer.

Not true, they originated the masternode, which is the pinnacle in gimmicky greed. Apparently Duffield understood the largest target market for cryptocurrencies long before anyone else. He may be slimy as fuck, but he understands the psychology of greed.

Not true, they originated the masternode, which is the pinnacle in gimmicky greed. Apparently Duffield understood the largest target market for cryptocurrencies long before anyone else. He may be slimy as fuck, but he understands the psychology of greed.

^  Dash was never a 'no.1 coin' in anything, being somewhat of trying to be a privacy coin or otherwise.  They're good at 'marketing' tho...    But I'm not really sure how they're good at it today.  They seem to have faltered.

Good time to exercise clicking on the ignore button too mate.  I do wonder what is behind accounts like this.  Paid shills..? Sock puppets..? Who knows....

As if anyone here who has held this far is likely to sell now...  

Yeah but doesn't mean "THEY" ain't gonna TRY to do it anyway in order to preserve their power structure.

It comes down then to a problem of Educating The Masses. Making the proverbial Man On The Street AWARE of the problem, and its solution.

That never happened yet in all the time since 1913 (at least) with the creation of the (not) Federal (no) Reserve System.

They were able to accomplish the scam thru purely social and communication education medium control.

Bitcoin and Crypto is MAYBE DIFFERENT ("it's different this time") perhaps ONLY because it's a little more TECHNICAL, as the "software" plays a larger role in replacing the middle man, custodial aspect.

But the idea the entire Grand Experiment that Satoshi launched could FAIL just 'cuz da peeple iz stoopid... is still pretty depressing  

Deploying a similar system for Bitcoin and/or other cryptocurrencies such as Monero is just insanely stupid imho - it counterfeits most of their initial ideas that led to the creation of Bitcoin.

The way paper crypto would work is like this:

1.  The institution holds 1 XMR
2.  The institution gives you some sort of promise of ownership of the capital it is holding.  This 1 XMR belongs to pönde.
3.  But they still hold the keys.
4.  They then use this same 1 XMR for further financial purposes, for example selling it short, or giving ANOTHER entity claims on it as well as you.

All of the above works fine until there is demand from multiple owners of the asset at the same time.

This was a huge part of the 2009 financial crisis.  It is a form of fractional reserve.  And poof Lehman Brothers is just a page in history...

And YES!  Those "paper BTC" *do* already exist.  Most, if not every exchange that holds the private keys for user's accounts is doing exactly this.  In the end (because of theft) it was also the way GOX fell.

The ultimate remedy is unique to bitcoin as it is a digital bearer asset.  All users have to do is either to hold their own private keys, take "physical delivery" of any contracts they purchase, or at the very least only do business with entities that keep BTC in segregated addresses for which the user KNOWS the public key, or address.

This is where it get's interesting, because never before has there been a financial instrument that has the bearer asset properties of cash, but all the advantages of digital money on top.

The WORLD is not anymore the way it used to be, mm mm mmm, Nuh Nuh NO!

Good time to sell.