[XMR] Monero Speculation - page 2143.

TrueCryptonaire

legendary

Activity: 1092

Merit: 1000

Quote from: smooth on October 14, 2014, 03:47:34 PM

Quote from: rdnkjdi on October 14, 2014, 01:56:08 PM

. A growing acceptance of crypto in general (vs the current stagnation). Everyone I know now knows about bitcoin without me telling them. None of them show much interest in it. Adoption has ceased as everyone knows and anyone who wants to use it is. This is much the same with XMR. Everyone who wants to use it / be in on it now is. Most people who own bitcoin and are semi regulars in the crypto world know about it.

Yes I describe this as a crypto dark age. There just isn't much going on in terms of opening of new markets or increased demand for the technology (broadly speaking I include both XMR and BTC here). Look at the BTC chart over the past 10 months. In the moment it seems like a lot is going on with daily/weekly pumps and dumps, China bans, MtGox implosion, but zoomed out you just see stagnation and slow decline.

It will take something new and important to break out of this pattern.

Most people among my connections are crypto-virgins and as I have been talking them about bitcoin, they answear me in two ways: 1) It is a bubble, I wish I knew it when it costed like sub 10 usd 2) Bitcoin - so what (meaning: it doesn't bring anything new into my life, I have credit card which works fine and I have a bank account which also works fine)?

In my opinion, bitcoin is facing now huge challenges, it actually doesn't bring anything new for average Joe since via Credit cards you can do all the things you are doing via bitcoin. Personally the only thing which attracts me to bitcoin is the price increases - there is not enough essence in "innovation".
People who adopt bitcoin are doing it mostly due political reasons (they are liberals). Now as all the liberals have adopted bitcoin, how should it change its ideology to attract the masses who are not liberals.
What I am trying to say is that bitcoin adoption is based too much on political ideology instead of tech innovation (which it doesn't obviously have radically enough).

Monero is a right step forward. There are people who simply want to be background with their money and they want to hide their wealth.
Bitcoins can be confiscated but it is much harder to confiscate Moneros due to anonymity feature.

smooth

legendary

Activity: 2968

Merit: 1198

Quote from: rdnkjdi on October 14, 2014, 01:56:08 PM

. A growing acceptance of crypto in general (vs the current stagnation). Everyone I know now knows about bitcoin without me telling them. None of them show much interest in it. Adoption has ceased as everyone knows and anyone who wants to use it is. This is much the same with XMR. Everyone who wants to use it / be in on it now is. Most people who own bitcoin and are semi regulars in the crypto world know about it.

Yes I describe this as a crypto dark age. There just isn't much going on in terms of opening of new markets or increased demand for the technology (broadly speaking I include both XMR and BTC here). Look at the BTC chart over the past 10 months. In the moment it seems like a lot is going on with daily/weekly pumps and dumps, China bans, MtGox implosion, but zoomed out you just see stagnation and slow decline.

It will take something new and important to break out of this pattern.

AtheistAKASaneBrain

hero member

Activity: 770

Merit: 509

Quote from: rdnkjdi on October 14, 2014, 01:56:08 PM

Most people who own bitcoin and are semi regulars in the crypto world know about it.

This sums it up. The average joe is completely clueless about Bitcoin, let alone alterantive cryptocurrencies. If they don't see a need to own and use them, then this shit is going nowhere. We'll see tho, what something seemed like an utopia getting mainstream in the past, finally got worldwide adoption. We just have to hope cryptos become trendy as hell in the future.

rdnkjdi

legendary

Activity: 1256

Merit: 1009

Quote

The bubble has popped. Only whales were buying XMR - other small time investors that really matters and drive the market up don't give shit about XMR as they see other coins with ~~more potential and less risk.~~ slicker marketing gimmicks & false assurances.

I do agree with the former part. The whales have (mostly) done their buying and now the market goes sideways and down while everyone wonders why. The next step would be creating demand which would need to be a combination of

. Bitcoin user persecution via nosey government (tax fraud, drug busts, China bans, etc)

. A wallet + database

. A growing acceptance of crypto in general (vs the current stagnation). Everyone I know now knows about bitcoin without me telling them. None of them show much interest in it. Adoption has ceased as everyone knows and anyone who wants to use it is. This is much the same with XMR. Everyone who wants to use it / be in on it now is. Most people who own bitcoin and are semi regulars in the crypto world know about it.

NewLiberty

legendary

Activity: 1204

Merit: 1002

Gresham's Lawyer

Quote from: pinky on October 14, 2014, 01:42:16 PM

Below are my posts in this thread in the last 30 days. Have I been very wrong?

Yes, most of those sentences are wrong, overstated, speaking for others not yourself, and without basis.
It rhetoric.

Quote from: pinky on October 14, 2014, 01:42:16 PM

I think not.

I'll give you that one though.

pinky

hero member

Activity: 538

Merit: 500

Quote from: nioc on October 14, 2014, 12:29:18 PM

Pinky I see you post in other coins' thread as well trying to dissuade people.

Hm, which other coins? Dissuade? AFAIK I am only writing in BBR/XMR threads.

Below are my posts in this thread in the last 30 days. Have I been very wrong? I think not.
You can use ignore button to avoid reading post from me in the future and live happily in your dreamworld.

Quote from: pinky on October 03, 2014, 01:44:54 PM

The bubble has popped. Only whales were buying XMR - other small time investors that really matters and drive the market up don't give shit about XMR as they see other coins with more potential and less risk. Growth has now virtually stopped and is around 1% per week (IMO strong bear market for any coin) and prices are just too high to sustain 0.003 level for much longer (every rally is smaller and got hammered big time, longterm trendline is broken). But hey, I might be totally wrong.

Quote from: pinky on September 23, 2014, 06:05:47 AM

Last two attacks were fixed quickly and trend was not hurt, now we did break the trendline. Average investor is an idiot and will buy things because everyone else is buying. They don't do any research, because facts would destroy their dreams of no risk/high gain investment. There is a big difference now, because one whale dumped coins and people got really scared - emotions (fear and greed) coupled with anticipation is what drives any market up and down!

But hey, I might be completly wrong, we'll see.

Quote from: pinky on September 23, 2014, 05:42:54 AM

Market found out how risky XMR really is, hence it is very likely that adoption has slowed dramatically in the last week and current price doesn't support inflation rate. I don't believe we have seen the lows yet.

Come-In-Behind

full member

Activity: 182

Merit: 100

Quote from: nioc on October 14, 2014, 12:29:18 PM

Pinky I see you post in other coins' thread as well trying to dissuade people. Thank you for your altruism.

Which coin of yours would you like us to buy?

Pinkycoin of course.

nioc

legendary

Activity: 1624

Merit: 1008

Pinky I see you post in other coins' thread as well trying to dissuade people. Thank you for your altruism.

Which coin of yours would you like us to buy?

pinky

hero member

Activity: 538

Merit: 500

Quote from: ?? on ??

pinky is an anti-xmr fearmonger, its one thing to not like xmr and want if to fail, its another make these feelings public with nonsense.

im not worried about price, if monero cant keep it up it will crash, maybe more will buy even lower

Ignore at your own peril:

http://en.wikipedia.org/wiki/Confirmation_bias
http://en.wikipedia.org/wiki/Cognitive_dissonance
https://www.youtube.com/watch?v=pqzcCfUglws

hodlmybtc

hero member

Activity: 700

Merit: 500

Damn nice price, been away for a while and see this Cheesy

Please dump some more and fill in my buy orders!

darlidada

hero member

Activity: 723

Merit: 503

Quote from: UnicornFarts on October 14, 2014, 11:37:48 AM

Quote

but this is big considering BCX is the one responsible for the low price with his fake attack fud. this man is friend with cryptsy. he advises them. only way what happened the last month made sense is if BCX bought a lot of xmr.

This is simply not true. At the height of the fear - it did a flashcrash to .281 (I know because I purchased some). What we've got now is a constant supply that is over running demand.

i dont understand the relationship between what i've said and what you said

UnicornFarts

full member

Activity: 154

Merit: 100

Quote

but this is big considering BCX is the one responsible for the low price with his fake attack fud. this man is friend with cryptsy. he advises them. only way what happened the last month made sense is if BCX bought a lot of xmr.

This is simply not true. At the height of the fear - it did a flashcrash to .281 (I know because I purchased some). What we've got now is a constant supply that is over running demand.

dnaleor

legendary

Activity: 1470

Merit: 1000

Want privacy? Use Monero!

We need to break 3.2 mBTC ASAP
I hope it happens...

About darknet: i don't know places were crypto is bought and sold. Maybe some whale (i'm not a whale) should "open a shop"

darlidada

hero member

Activity: 723

Merit: 503

Quote from: pinky on October 14, 2014, 11:27:24 AM

Not looking good for XMR. Order book around 100 BTC - the lowest in months. By now even the most enthusiastic see there is something wrong and they are clinging to their last hopes to see price reversal to confirm their bias.

If there will be no quick capitulation the inflation & the lack of adoption itself will do the job. Lack of the adoption is the most worrisome and I doubt new game/online wallet/GUI could save the day.
I would be suprised if the game will see many users without the financial incentives for trying out. The game can be prepared for other coins in a few weeks and all magic is lost.
GUI is only important for sofisticated users (currently around 100-200 people) or maybe creating offline wallets as no sane person will be downloading the whole blockchain. Electrum wallet would be a major breakthrough.
Online wallet is the most important news, but lets wait and see.
I don't know if there is currently any XMR market available or in making on tor.

I wonder when the first whale will capitulate. I know some of them bought below 0.001, but most of them above 0.003. In short, I see prices much lower.

last time price and bids were this low was during the 0.0023 bottom. people were silently accumulating. aminorex and rpietila where nowhere to be seen. operating in the shadows. i remember asking a friend to punch me in the face for not buying more around that time. lets hope the same thing happens.

rumours has it a webwallet is arriving in 2 weeks
fact is that XMR is #1 on coinvote on cryptsy and will be added soon. this is not big per se. but this is big considering BCX is the one responsible for the low price with his fake attack fud. this man is friend with cryptsy. he advises them. only way what happened the last month made sense is if BCX bought a lot of xmr.

pinky

hero member

Activity: 538

Merit: 500

Not looking good for XMR. Order book around 100 BTC - the lowest in months. By now even the most enthusiastic see there is something wrong and they are clinging to their last hopes to see price reversal to confirm their bias.

If there will be no quick capitulation the inflation & the lack of adoption itself will do the job. Lack of the adoption is the most worrisome and I doubt new game/online wallet/GUI could save the day.
I would be suprised if the game will see many users without the financial incentives for trying out. The game can be prepared for other coins in a few weeks and all magic is lost.
GUI is only important for sofisticated users (currently around 100-200 people) or maybe creating offline wallets as no sane person will be downloading the whole blockchain. Electrum wallet would be a major breakthrough.
Online wallet is the most important news, but lets wait and see.
I don't know if there is currently any XMR market available or in making on tor.

I wonder when the first whale will capitulate. I know some of them bought below 0.001, but most of them above 0.003. In short, I see prices much lower.

TrueCryptonaire

legendary

Activity: 1092

Merit: 1000

Quote from: dEBRUYNE on October 13, 2014, 04:24:10 PM

Quote from: TrueCryptonaire on October 13, 2014, 03:19:57 PM

From the perspective of development, we need more use for XMR.
Therefore I am hopeful for Risto's Crypto Kingndom project.

Bitcoin used to have Silk Road which brought constant demand for bitcoins, we need similar things for Monero. I think non-kosher money is not the way we should engage actively but this type of projects like Risto's one.
Those projects, when successfully monetized, will bring large amounts of money (I am talking here about not millions but tens of millions, even hundreds of millions usd). If the game is done optimally and it is marketed the best possible ways. it might be a huge success and bring tons of non-crypto people to Monero-community.

I am not capable to do coding and I do not have financial resources to do big projects like this but those who wish I hope they will do them. If you can code, then do.

Also, what I would like to see is a Monero-dedicated auction site (like ebay but in Moneros), then perhaps e-book library which forces one to buy moneros first in order to borrow e-books etc.
This type of services are the ones that will hoover the excessive Moneros from the Poloniex - now there is a flood of Moneros. Slightly below 20 000 Moneros are daily mined currently and I am sure some miners would like to do something with their moneros instead of directly dumping them into Poloniex. Roll Eyes

Of course I am assuming here the Monero services are not direct dumpers (like the major btc-merchants are just another way to dump the coins into the fiat-btc-markets).

Dnaleor is working on this, he is advocating for monero on different darkmarket forums. If you want to help, feel free to PM him!

Personally I am against criminals and non-kosher money.
Therefore I am not willing to help in this.
I do not want to participate in sin.

When I said Monero needs SR type of businesses I didn't mean non-kosher money but businesses that have low running costs and are therefore able to become a bagholder - just like SR. I did not refer to dirty money here but clean money with businesses that are able to store coins without pouring them out into exchanges for fiat.
Risto's Crypto Kingdomn is this type of business - or Monero-auction house (where you need to pay your fees in form of xmr). I have plenty of this type of ideas but I do not have capability to start running them mainly because of lack of it-skills.

redhack

legendary

Activity: 1863

Merit: 1020

We'd like to see that aswell. After RedHack, Anonymous should accept Bitcoin & Monero donations. We put our national currency donations to Monero, too. These prices are good for us in the long term.

dEBRUYNE

legendary

Activity: 2268

Merit: 1141

Quote from: TrueCryptonaire on October 13, 2014, 03:19:57 PM

From the perspective of development, we need more use for XMR.
Therefore I am hopeful for Risto's Crypto Kingndom project.

Bitcoin used to have Silk Road which brought constant demand for bitcoins, we need similar things for Monero. I think non-kosher money is not the way we should engage actively but this type of projects like Risto's one.
Those projects, when successfully monetized, will bring large amounts of money (I am talking here about not millions but tens of millions, even hundreds of millions usd). If the game is done optimally and it is marketed the best possible ways. it might be a huge success and bring tons of non-crypto people to Monero-community.

I am not capable to do coding and I do not have financial resources to do big projects like this but those who wish I hope they will do them. If you can code, then do.

Also, what I would like to see is a Monero-dedicated auction site (like ebay but in Moneros), then perhaps e-book library which forces one to buy moneros first in order to borrow e-books etc.
This type of services are the ones that will hoover the excessive Moneros from the Poloniex - now there is a flood of Moneros. Slightly below 20 000 Moneros are daily mined currently and I am sure some miners would like to do something with their moneros instead of directly dumping them into Poloniex. Roll Eyes

Of course I am assuming here the Monero services are not direct dumpers (like the major btc-merchants are just another way to dump the coins into the fiat-btc-markets).

Dnaleor is working on this, he is advocating for monero on different darkmarket forums. If you want to help, feel free to PM him!

freebud

newbie

Activity: 33

Merit: 0

I created a "wall observer" thread in the Monero forum, if you feel like moving the discussion there..
https://forum.monero.cc/2/economics-and-trading/57/wall-observer-xmr-btc-monero-price-movement-tracking-discussion

TrueCryptonaire

legendary

Activity: 1092

Merit: 1000

Quote from: UnicornFarts on October 13, 2014, 03:31:25 PM

Quote

Bitcoin used to have Silk Road which brought constant demand for bitcoins, we need similar things for Monero. I think non-kosher money is not the way we should engage actively but this type of projects like Risto's one.
Those projects, when successfully monetized, will bring large amounts of money (I am talking here about not millions but tens of millions, even hundreds of millions usd). If the game is done optimally and it is marketed the best possible ways. it might be a huge success and bring tons of non-crypto people to Monero-community.

Something that hit me today ... and this might be impossible to do. I think that either Edward Snoden or Wikileaks could see the value in an anonymous cryptocurrency. These seem like more legitimate causes that could benefit from anonymous currency than the blackmarket or ISIS Funding

In the same breath - getting Snowden or Assange to advertise your anonomous cryptocurrency might be a tough thing to do. If someone pledged enough XMR to make it worthwhile to get a donate button on wikileaks it might work for advertisement (get picked up on coindesk, etc).

I'd feel more comfortable sending XMR than BTC to either of these projects ...

+1

I am definetely pro-tipping.
But also Monero in order to create demand needs a new class of bagholders and this is easy to do via merchants selling non-tangible things like e-books, online-games, services etc. which have very small fiat-denominated running costs. Cost efficiency enables bagholding.
After all, the bagholding is the very bagbone of each currency.

Topic: [XMR] Monero Speculation - page 2143. (Read 3313670 times)