Topic: [XMR] Monero Speculation - page 2177. (Read 3312350 times)

Are you serious?!

counter question
How much Bitcoin or Ltc get minded per day and how much volume does it have?

I have been wondering, if XMR's emission rate is around 21,024 (14.6 per minute X 60 X 24hours) and the daily volume on Poloniex is often 200-300 BTC, then why isn't the price moving more upwards? We have pretty huge volume, consistently.

To "buy" 21,024 XMR  at the current price of .0044 BTC per would be around 92.5 BTC a day.
I realize it requires more BTC as the price goes up to buy the same amount so we can't really say an average price exists. But what is causing this?
Is it just trading? Can whales be moving coins between one another to add the apparence of volume? (If they wanted to move the price higher they could do a better job.)
Is there a large holder who is continually dumping?

Ideas?

IAS

It is more like an intuition than a thought for me at this point. I can only imagine that AI comes into the Cryptos, at some basic level. Eventually they should be able to "communicate" with one another. What does that entail? Interesting to extrapolate out that far with variables that we are not even yet aware of. At some further point I can only see a mixing of coins, much like on Earth how we have a mixing of races. Eventually, we, uhhh, get Greycoin, ehhe, kidding, but you get my idea. Just as how atoms have a Neutron with electrons/protons revolving around them, so do Solar systems have movements that are quit similar. I can only surmise that throughout our systems, we should look for overlays to other more universal ones (metaphorically speaking). Hope that made sense, a bit hard to English. I just can't imagine money, much less Crypto being anything like it is currently, years from now.

Thats the reason, he holds a shitton of bbr and btcd.
No idea why BBR should even use that, it makes absolutely no sense as bbr already has anonymity.


Now back to topic dudes

Interesting background. Thanks.

Bolded is what I had in mind more or less in my ha ha only serious post above about a merge of XMR and BBR. Not going to happen, of course, but at the same time, if in 10 years from now we don't have a precedence of two major coins merging, I'd be seriously surprised.

Not sure about equal valuation, but the way I understood it was that on the "shared highway" you could use other cryptos "strongpoints" - e.g. BBR's CryptoNote. I'd like to say XMR's CryptoNote, but apparently BBR is better AND got their first. James was asked if XMR would be there and he answered any crypto with something to offer and if XMR doesn't have anything to offer it won't be accepted. I sense a bit of hostility regarding XMR. I'm surprised he is holding it against the XMR devs what the XMR community said (well, he siad that but I didn't see all the talking down to.)

I do have to say however that I have envisioned Cryptos organically being able to sort of "merge" at some time in the future. Perhaps what James is doing is the first step in that direction.

IAS

Care to give a tl;dr of what the angle is of that one? I googled it, and my eyes glazed over at the wall of text I found being, well, imprecise in what this is supposed to be. Surely he can't propose equal valuation of different cryptos?

Making new coins was not profitable for some time, but now it is coming again..?

Definitely worth following!

Didn't you hear?  jl777's SuperNET is going to unite all the crypto, so every crypto now has equal value.  It's the greatest arbitrage opportunity in history.

I like to think competition is healthy for both coins and CN's evolution in general. I rather see one coin absorb most of the market-cap of the other because "everyone" decided it's the definitive CN-coin instead a centralized, planned, monopolistic merge. Also, I like choices.  

That proposal is so unlikely to materialize it's best to ignore it altogether.

I always think it is really cool how open you are about your holdings. I'm not necessarily sure it's wise but you're a big boy who can make his own judgement on that

Anyway, the above figures imply that the current value of XMR you own is likely between 2.9% and 5.6% of the amount of XBT you own. (At it's most extreme it lies between 0.4% and 42.3% but I think my other range is highly likely to include the actual value).

Wouldn't it be amusing if XMR and BBR would merge at some point in the future, to create the one, definitive CN coin?

The details would be a nightmare to work out - who's going to be the lead dev? how to merge the blockchains? how to reconcile the difference in the protocols? how to establish consensus, or rather: economical majority being in favor of the merge - but it'd be an interesting, possibly long-term profitable for everyone, experiment.

Now, flame away, if you must.

XMR is being used in commerce.  It is not feasible to know how much until its use achieves a scale amenable to available survey methods, but of the on-chain transfers I have personally observed  (roughly 80, amounting to about 500k XMR),  about 10% have been purchases of goods or services, and the remainder financial transactions.

Well, the following statement does not give any new information to the NSA as it is only parsed from public sources with necessary conversions:

- With Bitcoin, I have always since 2012-1-1 owned more than BTC2,400 although always less than BTC35,000.

- With Monero, I own more than 30,000 XMR but less than 227,000 XMR.

The usual "taxman disclaimer": "I" probably does not mean any entity that you can tax.

The only positive I would like to know is that XMR is actually used in commerce.

Are you open to disclosing the order of magnitude of Monero you own? (as you have for Bitcoin).

Of course, feel free to ignore my question (I personally would not disclose it in the public forum).

Well personally it has made me buy more of it.. don't know about the others

Perhaps this is a rationalized response to the primal urge to sell BTC, which cannot be done due to my resolution of not selling below 3000. Switching to something that is still crypto, has things going, and is going up, is not strictly breaking of the promise, right? 

What is your opinion on the effect of BTC continuing lower? In the past few weeks we've seen BTC give up 600 after staying roughly in that range for a while (since May), and now it seems it might be giving up 500. I wonder what the effect of this might have on Monero.

The following is only speculation about the price, and not intended to affect the trading decisions. Often trading decisions need to take into account volume, tax and other considerations.

Scenarios:

Fatal. Any of the following: Monero is found out to be a high level scam, Poloniex is hacked and coins stolen, tech breaks down etc. This would lead the supporters of Monero to stop their buying, and many speculators selling their coins. The exchange rate plummets to anything between 0 and 300. Going to zero in a short time is not likely unless the network totally crashes or even then (Goxcoins still have some value). The likelihood of this happening in the next 30 days is 1-5%.

Negative. Price turns down due to news or no news, coupled with great dumps that smash the support currently at ~400. If no support is found until 290, it breaks the rising bottoms trend, leading to further insecurity. Also Bitcoin starting to rise dramatically could lead to this outcome just because alts typically follow suit a little later. Likelihood 5-10%.

Slightly negative. Price fails to break 580 this week, and retreats back to 400, however the previous bottom in 290 is not threatened. Accumulation phase may continue in the sticky price area of 400-450. Likelihood 20-40%

Neutral. Slow grind higher continues with occasional spikes and dumps, 580 is taken but no definite push towards ATH. Likelihood 20-40%.

Slightly positive. The uptrend continues with a higher ascent, about 3-4% per day, leading to near 1000 before 30 days, which will likely to be a venue of some shuffling of the deck. Likelihood 10-20%

Positive. 1000 is destroyed and march higher goes on relentlessly (may also make a bubble top and come down in the space of 30 days, nevertheless only after making a new ATH). Likelihood 10-20%.

Stellar. Some external event means that investment capital flocks into Monero, and even $10 million compared to the market cap of about the same range means that a completely new range is established. Price can go to 5000 in an instant, yet will find its support level much lower. Likelihood 2-10%.