Topic: [XMR] Monero Speculation - page 1924. (Read 3314330 times)

This is actually a good point.
We know for sure that at least 80% of the coin supply is owned by a small handful of individuals.

This is like Ripple. If none of you remember when Ripple first came out a small allocation was released for public circulation. The market cap of Ripple quickly exceeded $1,000,000,000 and then surpassed Bitcoin itself.

I'm pretty sure Risto explained that a while back. If you own all of something, you can make the market cap be whatever you want. No one else can sell to drive the price down, but that doesn't mean they could sell their coins for that amount either.

Market cap is only meaningful to the extent there is liquidity to support it.

drawingthesun, Monero is not a one man show like some other coins. We have a large group of core team members, developers, contributors, and academics (with some overlap between these groups). Everyone adds something to the project. Some people basically just code, some focus on networking and speaking at conferences, some on organization and planning, some on forum presence, some on end user or merchant support, some on testing, some on cryptography and design issues, etc. I'm kind of jack of all trades, although I don't speak at conferences, and I only code a relatively small amount. I pretty much do everything else.

Considering that I'm a 100% volunteer like the rest of the core team, and I devote a shit ton of fully uncompensated time to the project, in addition to supplying both resources and money to the project out of my own pocket, I don't really believe anyone has standing to tell me to do any particular thing or how to spend my time. If you see someone doing that, they have an agenda. Figure out what it is. (Same goes for anyone else on the core team of course, just speaking for myself here to keep it simple.)

Whilst I fully trust and believe in the Monero developers, I can understand where you're coming from, they shouldn't be wasting too much time doing stuff like this and instead they should be using that time to develop the software.

EDIT: Although, looking over your posts you do seem to exhibit troll like behavior, perhaps they do need to spend their time cleaning up your mess.

I am divided.

BlockaFett, if I wanted to police/silence you here, your posts would already be deleted.

What evidence is there for Poloniex being a "fake exchange"?

Who pointed out the crippled mining code to us?

How does Bytecoin have a higher market cap than Monero? Jeez we're not doing well....

My substantive point is that it's my opinion that Monero's value is being rapidly reduced by the toxic actions/behaviour of the Monero core devs (LIKE YOU) and I am giving the reasons for that and asking your investors to fix it for 3 reasons 1) You are taking up a hell of a lot of other people's time including me 2) you are saying 'fuck you' to every Monero investor when you do this sh*t  3) you are the biggest hypocrite on BCT I ever saw - how can you even show your face to your community when you are doing this instead of ***developing***.  

You jumping in here within 5 seconds and trying to police that / silence me is hardly surprising.

If you are saying that you are here bent on retaliation, then you are welcome to leave.

If you have substantive points to make, you're welcome to make them, but continuing to repeat that Monero devs are "toxic" according to you because we feel that instamined coins are disreputable and should be clearly identified as such, and because we will advocate for that standard, does not count as substantive points.

Also, I still want to know who identified the crippled mining code and what basis you have, if any, for calling Poloniex a "fake exchange".

I'm here because i just spent 2 days arguing with them during their 'bum-rush' of the CoinMarketCap thread and when I asked them basic questions they run off.

For example Fluffy accusing Dash of premine to the CMC dev and running off when I challenged him: https://bitcointalksearch.org/topic/m.11215773

And then Smooth refusing to say whether he even did or didn't agree with his fellow core-dev's accusation: https://bitcointalksearch.org/topic/m.11217455

And they are *still there* today trying to *change* CoinMarketCap's rating system - their fucking ratings system lol - to fit Monero's interpretation of which coins are scams, which just *coincidentally* is all of Monero's competition and not Monero.

And it's backfiring because people are starting to point out the problems with Monero's launch, although notice no one is neurotically asking CMC to change XMR's ratings like *your devs are doing* https://bitcointalksearch.org/topic/m.11223742

And your devs are there doing this *after* CMC already removed the last rating that your devs pushed them to change for Dash and made CMC look stupid.  This is toxic behaviour, undermines every righteous thing they claim about the goals of Monero - this is a couple of blatant scammers IMO, or maybe the XMR price is doing great, the tech is mature and they have some free time and they hate scams?  Heard it all before...


If your toxic devs weren't spending all day finding new ways to sabotage their competition and making everyone on the receiving end livid at their incessant and neurotic quest to raise their value by attacking everyone else, I wouldn't be here.  

Luckily, the markets don't agree with your subjectivity. If XMR was a scam the markets would have rejected it, much in the way the markets have rejected all of XMR's 'competitors' - not least Bytecoin.

XMR markets rise and fall, largely due to it's investors telepathically and enharmonically performing a 'mexican wave' with the view to accumulating more; a symptom of a mechanism that people actually believe in.

Consider this: If the XMR wallet is in such a horrid state as you say, then it is surely is reflected in the price and market cap. Any future rectifications will simultaneously rectify the price and market cap accordingly.

It should be noted that there is a big difference in investing in a five star hotel at the architectural level, and investing in an already-built hotel that is demonstrably flawed.

Why did DRK/DSH fail? Maybe it was branding suicide, maybe it was masternode peeking, or maybe people simply woke up about the instamine issue. I don't know. But I do know that honesty and fairness are critical components to any altcoin.

If a coin has shown itself to be born out of insidious intent (and in the case of DSH this certainly pertains to the administration's failure to acknowledge the instamine) then it surely should be shouted from the all of the rooftops, so vigorously, that everyone knows exactly what they are investing in.

I don't believe that is the definition of toxicity. I believe it is the right thing to do.

Deleted rangedriver's and elripp's replies that both quoted BlockaFett's post but added no meaningful content

BlockaFett, I'm just asking about your claim that Poloniex is a "fake exchange."

So if you have some evidence to support your opinion that Poloniex is a fake exchange, please let us know, because that is a very significant allegation and one people who trade Monero (the topic of this thread) would certainly want to know about.

Also, and I apologize for going slightly off topic for the thread, but I still want to know who pointed out the crippled mining code to us, another one of your claims. I thought it was NoodleDoodle. Or did you just make that up?

As far as the exchanges, I'm just telling you what they've told us, and cryptsy in particular has said mulitple times in public that they are working on it. So maybe they are lying to everyone and your reasons are actually the real ones. I don't know.

OT:

You, sir, are the most obnoxious and disgusting individual on this forum. Your obsession with Monero only shows your fear and, additionally, your total lack of understanding what the meaning of Open Source is.

Personally, I'd much prefer if the involved Monero devs would leave Dash alone. I'll give you that. After all, all points have been made and any serious investor/speculator/ideologist has access to all the relevant information to make up his mind.
But it's their choice so there's not much I can do about that. Just as it is their choice to waste their time by answering you. Miraculously level-headed I might add.

As for your proficiency in trolling I admit defeat. You got to me. I'd bitchslap you from lobby to top floor and back. Seems I am the lesser person after all.

/spits

It's my subjective opinion Smooth - the first text in my post is "Just my opinion but..." - one doesn't need to prove an opinion, and one shouldn't present opinions as facts as you do in nearly every post you make.

"There is no "reason no one on the dev team is pushing for new exchanges" because that just isn't true." - that is your opinion.  In my opinion, that is false.  

I don't accept the reasons you give why exchanges haven't added it either.  I am guessing it's more like they don't want to mess around with users losing payments because they are 'too stupid' to have to deal with sending PaymentIDs and the exchanges don't want the support overhead.  Or have to run a dedicated server to host the blockchain in RAM.  

But I guess the obvious point is with your wallet being in such a horrid state and with so many basic issues, and after 1 year none of this was fixed and instead the Devs are going around trying to mask subjective accusations as provable facts that the rest of crypto should agree with your interpretation of how your competitor are all scams, it looks like a scam - again, my subjective opinion.

Who pointed it out? As far as I know, NoodleDoodle found it and fixed it.


This is untrue. We've been in touch with pretty much every exchange, and have offered to help any exchange integrate. We get three answers:

1. We're working on it
2. We're not adding new coins
3. Monero isn't big enough

There is no "reason no one on the dev team is pushing for new exchanges" because that just isn't true.


Do you some sort of have evidence Poloniex is a "fake exchange" or are you just making a baseless attack on a reputable crypto exchange business (who for example paid back 100% of their users after a hack last year) without any evidence.

awesome awesome, I'm back fellas

Now that the Monero train is near levels where I sold at the beginning of the last rally

Just my opinion, but something to do with your toxic core devs running around BCT trying to denigrate the competition, instead of the *much needed* development that would get your wallet to a functional level that would let exchanges like Cryptsy have the confidence to add it, let alone real users in a real market... who according to your devs are 'too stupid' to use the dysfunctional code they are in 'stewardship' of that is in essentially the same state as when they cloned it from the 'Bytecoin scam' one year ago - way to attract new buyers. (But don't worry, according to them they at least removed the scam code embedded in the software that they admitted gave the developers a deliberate and unfair advantage after other people had to point it out to them - nice to know).

After one year of zero innovation on top of Bytecoin (apart from MyMonero.com, the first of several centralized payment websites envisaged, owned, developed and operated by your lead Dev FluffyPony, soon to be followed by PayBee.com that will presumably require more "investment" from you guys, and hopefully turn out better than his VertPay website that he tried to raise $200k from Vertcoin investors for right before he joined Monero), it's becoming ridiculous to keep saying 'Monero is the only safe way to store money, how come it's dumping' - like the other day when FluffyPony's centralized payment website went down and no one could deposit coins to Poloniex and his solution was to "call him on his mobile if he is asleep" - the system doesn't work.

Essentially, the bubble of bullsh*t is bursting..  Monero is not unique at this stage, it is just another cryptonote clone, and it's credibility is so tarnished thank to the dev's scammy behaviour (my subjective opinion), DSH on Poloniex is probably a better investment right now IMO, at least it *doesn't* have this kind of dev team.  

I think that's the real reason why no one on the dev team is pushing for new exchanges - without everything going through Poloniex, which is controlled by a few whales like Warz, the bullsh*t bubble would have burst a long time ago, e.g. if it was also on Cryptsy / Finex and the non-Poloniex volume was <$1000 per day across all these big exchanges, just like it is like that now with Bittrex / BTER, market demand would start to look more fake than it does already (with the only XMR in buy books apparently being 4 huge whale buy walls now which I suspect will be 'on the move' when the price gets near as usual).  Take Poloniex out of the equation and XMR in this state would be < $200k within a few days I suspect, i.e. without the ability to run a marketing scam by controlling the conversation on BCT <-> Poloniex trollbox and try to make this off-the-shelf clone-code appear to have any use / value and hide the fact that they have done zero innovation as they should have to earn the value they are claiming.

Less bullsh*t, more development.  Value has to be earned, not propped up on a fake exchange and trolled by fake devs who like to talk a lot instead of delivering anything, and offending 100s of people around BCT each day.

V. surprised some real devs haven't just forked Bytecoin, added a GUI and local DB and seen if this tech can actually go somewhere in the real market, or maybe that is a comment on the CryptoNote tech itself, IDK.

If you want to see what your 'devs' are really like, check how right now all they are doing is trying to get Dash 2 little stars on a 3rd party guide site even after they got laughed out for saying Dash was a premine: https://bitcointalksearch.org/topic/m.11215773

Most toxic dev team on earth.  Your responsibility as investors - fix it.

That kinda makes me feel less guilty about dumping onto Warz's 0.0025 buy wall a few days ago.

So what's the reason this time for the dumps?

2 Weeks ago, ~90,000 coins were held by 2 individuals. Now they're not.

Which is roughly 6 days of emissions.

Assuming any one person can't be the whole hashrate, lets just assume they are the "unknown" in https://monerohash.com/#network

So thats 16.5%, so thats 6 days X 0.165 = 37 days.


and buying back 90k coins would cost a lot at any point.

My point is, whale rage is becoming more expensive.

Well well well.. Looks like we got ragedumped to <0.002. Pretty amusing to see the heavy emotions involved here. This is a game of the brain rather then the heart. Don't loose yourself in the manic depressed state roaming in the xmr topics now, the coin/project isn't that different than 2 weeks ago when bitcoin parity was being predicted (also foolish, manical even). It goes up, it goes down

I would've thought that we would stop around the 22.5-23.8 region, guess I was wrong. Sub 2 is buying opportunity. This project has a lot of good stuff coming.