[XMR] Monero Speculation - page 325.

explorer

legendary

Activity: 2016

Merit: 1259

Quote from: jwinterm on March 15, 2018, 12:21:24 PM

Quote from: Gaben. on March 15, 2018, 11:58:16 AM

...so let me get this right.

The biggest claim with regards to monerov being a scam are that they are having people enter their private key in a closed source wallet?

Correct me if I'm wrong what what's the harm in waiting for an open source one?

Also, being given the option to sell/monetize personal transaction histories at will en masse seems like a major opportunity I would think?

Not that I'm recommending it, but you can attempt to claim your scamcoins with no risk to your own funds using a closed source wallet anyway. Just wait until snapshot date passes, transfer all XMR to new wallet, then import old private keys into closed source wallet that is on a different (unimportant) computer.

Also, unrelated, apparently halong had one too:
https://twitter.com/HalongMining/status/974189005712576512?s=19

You are still handing over your transaction history with those old keys. No Thanks.

As to their 'unlimited supply' claim, I think it will take more than a thousand years for XMR to overtake their 'fixed supply'. I won't care as much by then.

Globb0

legendary

Activity: 2702

Merit: 2053

Free spirit

Quote from: Febo on March 15, 2018, 02:03:54 PM

Quote from: Globb0 on March 15, 2018, 01:25:13 PM

Quote from: Shnikes101 on March 15, 2018, 12:17:50 PM

10x airdrop, >5% premine

so extrapolating, 5%*10=50% (it says greater than too Shocked

)

a dev pre mine of half the size of monero in total.

5.859375% of 256 million is exactly 15 million. I dont believe there is currently, after 4 years of existence of Monero, more coins with access to it then 15 millions coins. There should be 800k more coins but I bet number like that was lost in last 4 years from different reasons.

I really feel it shines a light on the issue being unlimited supply due to the tail emission.

That seemed a large part of their pitch. Easily debunked it would seem.

Febo

legendary

Activity: 2744

Merit: 1288

Quote from: Globb0 on March 15, 2018, 01:25:13 PM

Quote from: Shnikes101 on March 15, 2018, 12:17:50 PM

10x airdrop, >5% premine

so extrapolating, 5%*10=50% (it says greater than too Shocked

)

a dev pre mine of half the size of monero in total.

5.859375% of 256 million is exactly 15 million. I dont believe there is currently, after 4 years of existence of Monero, more coins with access to it then 15 millions coins. There should be 800k more coins but I bet number like that was lost in last 4 years from different reasons.

Globb0

legendary

Activity: 2702

Merit: 2053

Free spirit

Quote from: Shnikes101 on March 15, 2018, 12:17:50 PM

10x airdrop, >5% premine

so extrapolating, 5%*10=50% (it says greater than too Shocked

)

a dev pre mine of half the size of monero in total.

Shnikes101

full member

Activity: 254

Merit: 109

Quote from: jwinterm on March 15, 2018, 12:21:24 PM

Also, unrelated, apparently halong had one too:
https://twitter.com/HalongMining/status/974189005712576512?s=19

Dang, that makes at least 3? Grabbed the below from another thread. Network hash and difficulty will be very interesting to watch later this month.

Quote from: xs.over on March 15, 2018, 09:21:04 AM

Monero network hashrate distribution (stats on 8 february)
Roughly 70% of network hashare are on private pools.
Seems to be coinhive, js web miners, compromised pc/cpu instances botnets and Baikal, PinIdea and Bitmain ASICs/FPGAs

jwinterm

legendary

Activity: 3164

Merit: 1118

Quote from: Gaben. on March 15, 2018, 11:58:16 AM

...so let me get this right.

The biggest claim with regards to monerov being a scam are that they are having people enter their private key in a closed source wallet?

Correct me if I'm wrong what what's the harm in waiting for an open source one?

Also, being given the option to sell/monetize personal transaction histories at will en masse seems like a major opportunity I would think?

Not that I'm recommending it, but you can attempt to claim your scamcoins with no risk to your own funds using a closed source wallet anyway. Just wait until snapshot date passes, transfer all XMR to new wallet, then import old private keys into closed source wallet that is on a different (unimportant) computer.

Also, unrelated, apparently halong had one too:
https://twitter.com/HalongMining/status/974189005712576512?s=19

Shnikes101

full member

Activity: 254

Merit: 109

Quote from: Gaben. on March 15, 2018, 11:58:16 AM

...so let me get this right.

The biggest claim with regards to monerov being a scam are that they are having people enter their private key in a closed source wallet?

Correct me if I'm wrong what what's the harm in waiting for an open source one?

Also, being given the option to sell/monetize personal transaction histories at will en masse seems like a major opportunity I would think?

The biggest concern for Monero is the potential damage of privacy via an on chain fork that requires private key use to claim an airdrop. Private key reuse is a new-ish attack vector on the network.

My guess is that they could care less whether or not its a scam.
However, claims regarding a scam revolve around the unknown team, closed source software, 10x airdrop, >5% premine, questionable claims on finite supply, coin serves a duplicate or unknown purpose and despite being made aware how their on chain fork damages the privacy of both networks they're moving forward.

It will be interesting to see who or if any exchange supports them.

spirali

member

Activity: 65

Merit: 61

Quote from: aerbax on March 15, 2018, 11:35:26 AM

Like this?

https://getmonero.org/2018/02/11/PoW-change-and-key-reuse.html

yes, I read it a few days ago but I was just wondering if there was another announcement now that Baikal and Bitmain confirmed they have ASICS for cryptonight (it was only an assumption back in February). I guess the devs will soon publish what they will change in the code (small modification of cryptonight or even switching to another algorithm?) but I don't know where it will be announced. Do you know where it is debated (URL)?

Gaben.

newbie

Activity: 42

Merit: 0

...so let me get this right.

The biggest claim with regards to monerov being a scam are that they are having people enter their private key in a closed source wallet?

Correct me if I'm wrong what what's the harm in waiting for an open source one?

Also, being given the option to sell/monetize personal transaction histories at will en masse seems like a major opportunity I would think?

Shnikes101

full member

Activity: 254

Merit: 109

Quote from: spirali on March 15, 2018, 10:37:39 AM

Quote from: Anon136 on March 15, 2018, 09:15:33 AM

Yes just like BCH you are going to end up with a pile of the stuff. But you wont be able to spend it without compromising your privacy. They don't seem to care about this problem either. They seem to just be pretending like it doesn't exist and ignoring anyone who points it out to them. It's almost like they don't really care about building a solid project and instead are looking for a quick cash grab that doesn't really require any work on their part...

It did pump the price. Then they delayed it by a couple of months right before the air drop was supposed to happen and that's when the price fell.

I understand revealing the IP is the only concern here. So why not use Tor in the process? Like :
1- you move your coins from XMR wallet A to XMR wallet B
2- you never use XMR wallet A anymore
3- you connect to a new XMV wallet through Tor and claim your XMR using the private key of XMR wallet A
4- you shapeshift your XMV to XMR wallet B through Tor

Or am I missing something?

Revealing your IP is not the main concern.

It's an on chain fork that requires you to give them your private keys to claim your shit drop. Giving anyone your private keys is a no no but in this case it actually damages the privacy of both networks. Crazy.

Serhack's article is probably my favorite so far.

https://serhack.me/articles/introduction-to-monerov-and-its-inherent-risks

aerbax

full member

Activity: 201

Merit: 100

Quote from: spirali on March 15, 2018, 10:59:32 AM

...
Anyway, we really need the devs to confirm they will fight against ASICS. What's the situation on this? Do you know where the decision will be published?

Like this?

https://getmonero.org/2018/02/11/PoW-change-and-key-reuse.html

spirali

member

Activity: 65

Merit: 61

Quote from: IntroVert on March 15, 2018, 04:36:16 AM

12k USD for May batch, and 8k for June, but they are selling like hotcakes. I guess Bitmain will wait for the algo change, adjust and then ship the miners:

https://shop.bitmain.com/productDetail.htm?pid=000201803132107063379CD35Gxy064F

Anyone want to venture how this will affect price?

There was a bull reversal at ~04:30 GMT but Bitmain published the announcement later at ~07:00 GMT. So I think it's just a coincidence. Also I don't think some insiders placed big buy orders before everybody because the arrival of cryptonight ASICS is more bad than good news for XMR. Siacoin (SC) was badly affected when Bitmain released the A3 in January. Good news for us is the X3 costs 12000USD for a ~200€ daily mining revenue (ROI = 60 days as of today) while the A3 had a ROI of only 6 days!

Anyway, we really need the devs to confirm they will fight against ASICS. What's the situation on this? Do you know where the decision will be published?

Anon136

legendary

Activity: 1722

Merit: 1217

Quote from: spirali on March 15, 2018, 10:29:43 AM

Quote from: Anon136 on March 14, 2018, 04:56:07 PM

I didn't hedge XMR specifically. I hedged my whole crypto portfolio in a way by selling my bitcoin when it started falling hard and putting in a stop order at the price that I sold it at. So worst case scenario, if it stops falling and going back up the exchange will automatically buy it back at the same price that I sold. No fancy contracts or anything. I cant even get on bitfinex being an american. Either way though it makes me feel so much less stressed about both the decline in bitcoin and monero.

Thanks for the precision. So if I understand correctly you simply:

1- hodl when you think it will go up
2- sell your coins and buy them back (if they return to previous level) when you think it will go down
advantage = you don't lose if the coin never recovers. You can still change your buy order if you think the coin bottomed
?

I thought you were opening short positions which is common on FOREX but I never found a cheap/convenient way to do that with cryptocurrencies.

I mean you can follow the price down with your stop. For example, if the price were to fall to 3000 dollars I wouldn't leave my stop all the way up at 9000. I would probably move it down to between 4000 and 5000. Because, I figure, by the time it bounces 2000 dollars off the low it's pretty safe to imagine that we are back into recovery territory. 3000 dollars followed by 5000 then back down to <3000 would be one hell of a bull trap. I mean you get massive bull traps in this space but only immediately after a moonshot like the one up to 20,000 and the subsequent few weeks after.

Also at 1300 I would just put in a massive support wall. *edit* meh probably before 1300. I'm pretty bullish on lightning network. At some point, not sure where, I would just put in a plain large buy order.

spirali

member

Activity: 65

Merit: 61

Quote from: Anon136 on March 15, 2018, 09:15:33 AM

Yes just like BCH you are going to end up with a pile of the stuff. But you wont be able to spend it without compromising your privacy. They don't seem to care about this problem either. They seem to just be pretending like it doesn't exist and ignoring anyone who points it out to them. It's almost like they don't really care about building a solid project and instead are looking for a quick cash grab that doesn't really require any work on their part...

It did pump the price. Then they delayed it by a couple of months right before the air drop was supposed to happen and that's when the price fell.

I understand revealing the IP is the only concern here. So why not use Tor in the process? Like :
1- you move your coins from XMR wallet A to XMR wallet B
2- you never use XMR wallet A anymore
3- you connect to a new XMV wallet through Tor and claim your XMR using the private key of XMR wallet A
4- you shapeshift your XMV to XMR wallet B through Tor

Or am I missing something?

spirali

member

Activity: 65

Merit: 61

Quote from: Anon136 on March 14, 2018, 04:56:07 PM

I didn't hedge XMR specifically. I hedged my whole crypto portfolio in a way by selling my bitcoin when it started falling hard and putting in a stop order at the price that I sold it at. So worst case scenario, if it stops falling and going back up the exchange will automatically buy it back at the same price that I sold. No fancy contracts or anything. I cant even get on bitfinex being an american. Either way though it makes me feel so much less stressed about both the decline in bitcoin and monero.

Thanks for the precision. So if I understand correctly you simply:

1- hodl when you think it will go up
2- sell your coins and buy them back (if they return to previous level) when you think it will go down
advantage = you don't lose if the coin never recovers. You can still change your buy order if you think the coin bottomed
?

I thought you were opening short positions which is common on FOREX. I have searched for solutions but I never found a cheap/convenient way to do that with cryptocurrencies.

Anon136

legendary

Activity: 1722

Merit: 1217

Quote from: nanobrain on March 15, 2018, 08:30:24 AM

So, does this airdrop thing mean I'm suddenly going to have a huge pile of coins appear from nowhere (ala BCH)...I imagine not since this would have pushed demand and the price wouldn't be going south.

Yes just like BCH you are going to end up with a pile of the stuff. But you wont be able to spend it without compromising your privacy. They don't seem to care about this problem either. They seem to just be pretending like it doesn't exist and ignoring anyone who points it out to them. It's almost like they don't really care about building a solid project and instead are looking for a quick cash grab that doesn't really require any work on their part...

It did pump the price. Then they delayed it by a couple of months right before the air drop was supposed to happen and that's when the price fell.

nanobrain

legendary

Activity: 1008

Merit: 1000

Dumb broad

Brilliant.
Thanks for all the replies (and friendly PMs too...what a lovely bunch you are!).

So, does this airdrop thing mean I'm suddenly going to have a huge pile of coins appear from nowhere (ala BCH)...I imagine not since this would have pushed demand and the price wouldn't be going south.

Anyway, I'll keep HODLing and try not to get too depressed looking at teh charts.

johnalan

member

Activity: 200

Merit: 47

Back to 0.025 wow.

Still I see Monero under 0.04 as a once in a lifetime buying opportunity.

Whtwabbit

sr. member

Activity: 490

Merit: 266

Quote from: IntroVert on March 15, 2018, 04:36:16 AM

12k USD for May batch, and 8k for June, but they are selling like hotcakes. I guess Bitmain will wait for the algo change, adjust and then ship the miners:

https://shop.bitmain.com/productDetail.htm?pid=000201803132107063379CD35Gxy064F

Anyone want to venture how this will affect price?

Yeah, I'll have a guess, Monero will pass its all time high of either BTC or USD between 4 to 12 weeks from now

IntroVert

full member

Activity: 266

Merit: 119

12k USD for May batch, and 8k for June, but they are selling like hotcakes. I guess Bitmain will wait for the algo change, adjust and then ship the miners:

https://shop.bitmain.com/productDetail.htm?pid=000201803132107063379CD35Gxy064F

Anyone want to venture how this will affect price?

Topic: [XMR] Monero Speculation - page 325. (Read 3314316 times)