I believe the network effect at this stage of the game is overblown.
Bitcoin has a $6.2 Billion market cap, which is peanuts. And the infrastructure consists of some amateurish exchanges, several large websites, some enthusiastic nerds, and maybe a few dozen ATMs.
Topic: [XMR] Monero Speculation - page 2161. (Read 3312350 times)
IMO ... I do not think XMR can overtake BTC due to network effect, first mover advantage and regulation issues on the horizon making it the defacto 'mainstream crypto currency'.
Now that said, I do think XMR once official GUI and blockchain issues are solved could gain serious adoption in niche markets along the lines of Offshore banking vs Mainstream banking in the real world.
A slow and organic growth with decent price stabilization as we are seing is vital to this outlook. I must say that I am impressed with XMR and its price stablization in the midst of the attacks and FUD that have targeted it and lets not forget the daily minting of new coins.
I would like to extend, as a large holder of XMR, a very big thank you to the devs for their great work as well to the senior members of the community for their continued 'intelligent' discussions and ongoing support. This community is definatly not your typical altcoin community and should be praised for it.
Now that said, I do think XMR once official GUI and blockchain issues are solved could gain serious adoption in niche markets along the lines of Offshore banking vs Mainstream banking in the real world.
A slow and organic growth with decent price stabilization as we are seing is vital to this outlook. I must say that I am impressed with XMR and its price stablization in the midst of the attacks and FUD that have targeted it and lets not forget the daily minting of new coins.
I would like to extend, as a large holder of XMR, a very big thank you to the devs for their great work as well to the senior members of the community for their continued 'intelligent' discussions and ongoing support. This community is definatly not your typical altcoin community and should be praised for it.
EDIT: It's a psychology thing. They either wanted to gain more BTC (rpietila admitted this and I did so too) and/or hedge on possible BTC failure. Are you kidding me? This is expressing so little faith in Monero, if an alt has any chance to succeed it needs fanatics who aim at No1.
Please link where I have said my aim is to gain more BTC? If I read my mind correctly, it has not been my aim since summer-13.
Hedge is something I have talked about. USDXMR in my understanding would immediately gain a lot if something serious happened to Bitcoin, making it a perfect hedge.
I also believe Monero has the chance of taking over Bitcoin.
I'm not being purposely difficult, and I believe that you mean what you say, but XMR will not take over from bitcoin. Or rather, if XMR takes over from bitcoin, it will be in a drastically different crypto market, in which the potential for cryptocurrency to becme mainstream had been reduced to near zero.
People, Joe and Jill Public, don't want cryptonote. They might go for another alt, but it will be easy to use and they will want to be able to track their money and to prove it to the authorities.
All cryptocurrencies are bordering on impossible to use for 95% of people. This will improve across the board in coming years. And really, I doubt any one coin will ever be much easier to use than the others.
I don't know of many people who would want the authorities to know about their transactions. Why do most brick and mortar businesses prefer dealing in cash? Because people prefer to cheat on their taxes if they know they can easily hide their income from the authorities.
Had an impromptu business meeting with two guys I knew but haven't had contact with for months.
As a side effect, both are now holders of Monero. One had used BTC before, the other not. The one with previous experience in crypto is thinking in taking a 5-figure XMR position soon (if he can afford 5 figures when his fiat arrives).
As a side effect, both are now holders of Monero. One had used BTC before, the other not. The one with previous experience in crypto is thinking in taking a 5-figure XMR position soon (if he can afford 5 figures when his fiat arrives).
People, Joe and Jill Public, don't want cryptonote. They might go for another alt, but it will be easy to use and they will want to be able to track their money and to prove it to the authorities.
The account software in XMR will do all the bookkeeping for you, just print is out for taxes. No sweat.Is "Fear of the state" supposed to be a good thing?
There should not be fear with Monero.
You can prove you have paid Ceasar its due.
And your competitor can not see your business.
guys help me defend 0.004! my bid is at 0.004011 and its almost eaten =D
EDIT. ...and it's gone, now we can go up
EDIT. ...and it's gone, now we can go up
Why you want to defend anything?
Just buy as low as you can and sell as high as you can.
If you expect there will be much higher after some period of time, just hold.
guys help me defend 0.004! my bid is at 0.004011 and its almost eaten =D
EDIT. ...and it's gone, now we can go up
EDIT. ...and it's gone, now we can go up
Looks like it's time for a little bull tun in next days! Just a little push is needed 
Middle of month is here. No push needed at this time of month usually. It will probably happen this week or beginning of next. After that will not go under 0.004 ever again.
People, Joe and Jill Public, don't want cryptonote. They might go for another alt, but it will be easy to use and they will want to be able to track their money and to prove it to the authorities.
The same people currently participate in fiat system, which is so hellishly complicated that not 100 people in Finland could explain it for a perfect 6/6 essay. (I believe the number is much bigger for gold mining and Bitcoin mining.) Henry Ford said that it is good people don't understand it for otherwise there'd be a revolution before morning. Shame that Ford is not with us, he did not live to see the revolution we are witnessing!
The account software in XMR will do all the bookkeeping for you, just print is out for taxes. No sweat.
Quote
People, Joe and Jill Public, don't want cryptonote. They might go for another alt, but it will be easy to use and they will want to be able to track their money and to prove it to the authorities.
I don't know if this matters ... but if you look at the GUI interface posted in the missives I find it more user friendly than anything I've used with bitcoin/litecoin. Admittedly it's been awhile.
Also from what I can tell I would be able to prove my transactions in/out as far as amounts are concerned.
I personally don't see Monero ever competing with bitcoin simply for the network effect. It actually hurts user adoption IMO for one group of people to get rich at the expense of another group of people having their currency turned into something "worthless" overnight. (What's been going on with alts since the start of this forum).
EDIT: It's a psychology thing. They either wanted to gain more BTC (rpietila admitted this and I did so too) and/or hedge on possible BTC failure. Are you kidding me? This is expressing so little faith in Monero, if an alt has any chance to succeed it needs fanatics who aim at No1.
Please link where I have said my aim is to gain more BTC? If I read my mind correctly, it has not been my aim since summer-13.
Hedge is something I have talked about. USDXMR in my understanding would immediately gain a lot if something serious happened to Bitcoin, making it a perfect hedge.
I also believe Monero has the chance of taking over Bitcoin.
I'm not being purposely difficult, and I believe that you mean what you say, but XMR will not take over from bitcoin. Or rather, if XMR takes over from bitcoin, it will be in a drastically different crypto market, in which the potential for cryptocurrency to becme mainstream had been reduced to near zero.
People, Joe and Jill Public, don't want cryptonote. They might go for another alt, but it will be easy to use and they will want to be able to track their money and to prove it to the authorities.
long term still in consolidation:
short term breakout possible:
short term breakout possible:
Alleluia Monero brothers and sisters!!
Looks like we collectively invented the most price-wise stable coin of all time!
Looks like we collectively invented the most price-wise stable coin of all time!
I assumed that in boring xmr times, and that is basically right now, the price would go much lower due to the high level of inflation and the very limited way to use xmr at this point of time. Maybe I was wrong.
Alleluia Monero brothers and sisters!!
Looks like we collectively invented the most price-wise stable coin of all time!
Looks like we collectively invented the most price-wise stable coin of all time!
It has been a very slow day of trading.
I have found a way to prevent myself from turning all my btc into Monero. Crazy glue the number keys.
I have found a way to prevent myself from turning all my btc into Monero. Crazy glue the number keys.
Are you sure you won't regret the choice to diversify into BTC, 1-2 years down the line...
All I'm sure of is that I am here and it is now. There is one more thing, those that I love now I will love forever.
I have already converted the majority of my modest amount of btc into XMR.
It has been a very slow day of trading.
I have found a way to prevent myself from turning all my btc into Monero. Crazy glue the number keys.
I have found a way to prevent myself from turning all my btc into Monero. Crazy glue the number keys.
Are you sure you won't regret the choice to diversify into BTC, 1-2 years down the line...
It has been a very slow day of trading.
I have found a way to prevent myself from turning all my btc into Monero. Crazy glue the number keys.
I have found a way to prevent myself from turning all my btc into Monero. Crazy glue the number keys.
I've thrown out the concept of Second Mover Advantage several times. Maybe it isn't (won't be) Monero but the idea that no coin can or should replace Bitcoin is not sensible.
If truth is that Bitcoin's demise with its $8,000,000,000 market cap will boost Monero with its $6,000,000 market cap, and Bitcoin's stellar growth will lead to Monero's exchange rate going down vs. Bitcoin, then Bitcoin's welfare is not in Monero's best interests.
In practice, very few own more XMR than BTC by value. Especially the largest holders of XMR invariably own more BTC. This means that the majority of moneros are in the hands that would rather see Bitcoin flourishing (even if it means that XMR goes down), and therefore the Monero community is supporting Bitcoin.
Monero can be regarded as a hedge to Bitcoin.
Responding to the bold part, did you see what happened with the ltc/btc rate when bitcoin went stellar at the end of 2013? It multiplied like 5 times. Don't you see that as a possebillity for monero? Personally I see monero as a hedge, but also as a complement to bitcoin.
Technically I said "If truth is that - -", which means that on the condition that A is true, then B.
Typical tautology. I believe A to be true, but it is possible that the history will repeat and in this case XMR rise at the apex of the BTC bubble.
I've thrown out the concept of Second Mover Advantage several times. Maybe it isn't (won't be) Monero but the idea that no coin can or should replace Bitcoin is not sensible.
If truth is that Bitcoin's demise with its $8,000,000,000 market cap will boost Monero with its $6,000,000 market cap, and Bitcoin's stellar growth will lead to Monero's exchange rate going down vs. Bitcoin, then Bitcoin's welfare is not in Monero's best interests.
In practice, very few own more XMR than BTC by value. Especially the largest holders of XMR invariably own more BTC. This means that the majority of moneros are in the hands that would rather see Bitcoin flourishing (even if it means that XMR goes down), and therefore the Monero community is supporting Bitcoin.
Monero can be regarded as a hedge to Bitcoin.
Responding to the bold part, did you see what happened with the ltc/btc rate when bitcoin went stellar at the end of 2013? It multiplied like 5 times. Don't you see that as a possebillity for monero? Personally I see monero as a hedge, but also as a complement to bitcoin.
Not just Litecoin. Many alts spiked with respect to XBT during the last XBT/USD boom. They included among others Namecoin, Peercoin, Anoncoin and even Freicoin! From this perspective XMR can be considered a leveraged play, with limited downside risk, on XBT.
Edit: The release of Dogecoin right at the peak of the XBT/USD boom is likely the primary reason for the brutal bear market in Dogecoin since its release.
True that, doge started falling (price-wise) on the beginning on february. If I recall correctly that was when we dropped from 750-800. Charts here:
http://coinmarketcap.com/currencies/dogecoin/
I've thrown out the concept of Second Mover Advantage several times. Maybe it isn't (won't be) Monero but the idea that no coin can or should replace Bitcoin is not sensible.
If truth is that Bitcoin's demise with its $8,000,000,000 market cap will boost Monero with its $6,000,000 market cap, and Bitcoin's stellar growth will lead to Monero's exchange rate going down vs. Bitcoin, then Bitcoin's welfare is not in Monero's best interests.
In practice, very few own more XMR than BTC by value. Especially the largest holders of XMR invariably own more BTC. This means that the majority of moneros are in the hands that would rather see Bitcoin flourishing (even if it means that XMR goes down), and therefore the Monero community is supporting Bitcoin.
Monero can be regarded as a hedge to Bitcoin.
Responding to the bold part, did you see what happened with the ltc/btc rate when bitcoin went stellar at the end of 2013? It multiplied like 5 times. Don't you see that as a possebillity for monero? Personally I see monero as a hedge, but also as a complement to bitcoin.
Not just Litecoin. Many alts spiked with respect to XBT during the last XBT/USD boom. They included among others Namecoin, Peercoin, Anoncoin and even Freicoin! From this perspective XMR can be considered a leveraged play, with limited downside risk, on XBT.
Edit: The release of Dogecoin right at the peak of the XBT/USD boom is likely the primary reason for the brutal bear market in Dogecoin since its release.
I've thrown out the concept of Second Mover Advantage several times. Maybe it isn't (won't be) Monero but the idea that no coin can or should replace Bitcoin is not sensible.
If truth is that Bitcoin's demise with its $8,000,000,000 market cap will boost Monero with its $6,000,000 market cap, and Bitcoin's stellar growth will lead to Monero's exchange rate going down vs. Bitcoin, then Bitcoin's welfare is not in Monero's best interests.
In practice, very few own more XMR than BTC by value. Especially the largest holders of XMR invariably own more BTC. This means that the majority of moneros are in the hands that would rather see Bitcoin flourishing (even if it means that XMR goes down), and therefore the Monero community is supporting Bitcoin.
Monero can be regarded as a hedge to Bitcoin.
Responding to the bold part, did you see what happened with the ltc/btc rate when bitcoin went stellar at the end of 2013? It multiplied like 5 times. Don't you see that as a possebillity for monero? Personally I see monero as a hedge, but also as a complement to bitcoin.
Technically I said "If truth is that - -", which means that on the condition that A is true, then B.
Typical tautology. I believe A to be true, but it is possible that the history will repeat and in this case XMR rise at the apex of the BTC bubble.
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