Topic: [XMR] Monero Speculation - page 91. (Read 3313076 times)

He used to say something along the lines of "Don't hold Monero, use it".

He was basically trying to deny the number go up appeal of crypto investment, and argue that the main focus of Monero is it's usability, not it's potential for Lambos.  This was during the whole ICO surge and I think in some ways he was tying to differentiate XMR from all the thousands of projects who's seeming point was to enrich the developers/scammers.

I remember he was criticized for this position being a sort of reverse psychology play by some twitter personality who I think is a pretty big jerk.  But the point is certainly reasonable in a way.  And so is the saying. 

Frankly there are attributes of Monero that make it arguably a less optimal value store than bitcoin.  Two examples that comes instantly to mind are the lack of a hard issuance cap. And the trade offs to audibility created by an opaque blockchain (https://web.getmonero.org/2020/01/17/auditability.html).

Thus the concept of not using Monero as an investment, but rather using it as private money is pretty strong. While on the other side many of us here still see the speculative future for Monero as fairly bright.

Just wondering...  What was Fluffy's advice and why should we avoid it?  He telling everybody to stay away?  He could be wanting all the coins for himself to make up for the boating accident. 

SHIT, My heart jumped for a second when I looked in on binance and saw new notifications and saw a long list of these









I thought the 4M was 4 Minutes at first!

It took my mind a few seconds to remember it was about 4 months ago I removed a ton and put it in cold storage.

I think I'm going to email them as tell them to change that notification, I almost instituted a lock down on my accounts.

Thanks for the dip guys.

• 2020-08-07 15:51:29   XMR/BTC   Limit   
  Buy
     0.007730   0.007730   10.571   10.571   0.081714 BTC   _   
  Filled
     
  2020-08-07 15:51:09   XMR/BTC   Limit   
  Buy
     0.007731   0.007731   10.570   10.570   0.081717 BTC   _   
  Filled
     
  2020-08-07 15:50:06   XMR/BTC   Limit   
  Buy
     0.007766   0.007766   9.454   9.454   0.073420 BTC   _   
  Filled
     
  2020-08-07 15:49:44   XMR/BTC   Limit   
  Buy
     0.007808   0.007808   6.970   6.970   0.054422 BTC   _   
  Filled
     
  2020-08-07 15:49:24   XMR/BTC   Limit   
  Buy
     0.007821   0.007821   3.510   3.510   0.027452 BTC   _   
  Filled
     
  2020-08-07 15:48:45   XMR/BTC   Limit   
  Buy
     0.007872   0.007872   4.630   4.630   0.036448 BTC   _   
  Filled
     

It seems Monero is already mainstream when comedians make good youtube videos about it

Why Privacy Coins? | Knee Of The Curve with Emmett Short

https://www.youtube.com/watch?v=KsvF2GbGD5Q


LOL, he suggest that police, instead of tracing that 17 years old twitter hacker with help of transparent Bitcoin ledger, they should rather track those 415 people that sent him Bitcoins. That would make streets way safer since they definitively need supervision

Thanks for the links Febo.   


Here is our dailies chart, still doing fabulous. ofc I swapped out a btc for safety purposes at a lower rate 

Monero Defcon28 Village

Live stream: https://www.youtube.com/watch?v=ILB3GmBAP7k

Chanel: https://www.youtube.com/channel/UCKxLNPJeEjPXOke55i5AIXA

Schedule: https://monerovillage.org/


Right now there is Dr. Daniel Kim economic talk.

Luckily I have most in cold storage and am in no way touching that!

3 years of re-accumilating has taught me a thing or two.

Alphabay all over again

This will never get "Fixed" as it is considered a "Feature" now and would require a change to the base layer which will never happen. As we all know second layer solutions are just inherently flawed and cannot be secured to the extent a base layer can.


On the speculation side, I got a notification that a few of my old sell points got hit @ 0.00789 and 0.00812 and I had to scramble to find my auth code for binance to get my monies back! I think I was drunk when I set those and decided I was bored. Thats the first time I have sold any in as long as I can remember and Its at the worst possible time.

Even when I do sell its for the sole reason of grabbing some in a dip but I don't think we are going to see another dip for awhile, it looks like the volume for weak hands is not there anymore.

Hah, thats the last thing I needed with this damn headache that won't go away.

Here is a very zoomed out 1d chart. But for the dollar price. Cusp of 100$ I suppose





Also that recent action looks a bit familiar. Are we getting help?



 

Actually in the last ~3 months Monero did outperform Bitcoin. It grew from ~0.062 to ~0.08 and I expect to continue this trend and recover all it has lost since 2017-2018 (on XMR-BTC I mean).

Lengthy and quality posts in the Monero speculation thread, please keep doing that from time to time kurious and cAPSLOCK (and others of course).

Nothing much to add but as well sticking with this one ‘altcoin’ (if you consider any other coin than bitcoin an altcoin, else I don’t like the naming because it is too binary) because of its clear use case: to have financial privacy one needs fungibility. This IMO has been, is, and probably for a long time will be Bitcoin’s achilles heel. The day that gets fixed I make the switch to Bitcoin only, since it is the most secure and most commonly used network.

Somehow in general people don’t seem to value privacy that much. Maybe not because they don’t care, but it almost always comes with tradeoffs: you need to pay for the service with money (instead of your data) and is less convenient to use (need to type a lengthy string of words to unlock that encrypted drive and there is no ‘forgot password’ option).

I still would never pay the pizza guy with a bitcoin, since he might come back later that evening for more after checking the balance of the change address. That is a serious concern and needs to be fixed, which hopefully lighting/liquid is or will be solving. Don’t like the extensive and professionalized chain analysis either, you never know how some dots to your legally acquired bitcoins get connected in the years to come.

Monero stands on its own legs and interestingly enough I don’t care much about its dollar value (anymore). I just want the project to succeed because the world needs it, especially people living in a whole lot scarier jurisdictions than I do.

You're right and I was not entirely serious - I know what Fluffy meant.  That's why I got in as soon as I could way back, when it was forking off and the name Monero was first mooted. 

I am excited too. Very.  It's always been an amazing project and, like Bitcoin, was designed as money, but private - without an entirely visible blockchain, with no rich list.  It's brilliant, beautiful and it works.  Those who have manned the node barricades, used it as money and defended the fort by hodling through the toughest times have my respect and gratitude.  I have tried to play my small part in buying the dips, market making and buying the dips again.  Even though I was underwater until 2016 - I just kept on, it seemed it 'had' to work.

One risk has been the pressure on exchanges from TPTB because Monero's secrecy was 'too good', something they might want to crush. That's been a concern and has wobbled some - and made it harder to keep the faith.  We will deserve whatever benefit there is; it has not been easy, but we're still here and yes, our time is coming - privacy is too precious, everyone has good, legitimate reasons to want their financial dealings to be private.  Even banks

I have had a few coins over the years, but only two have truly mattered and are still things I trust. 

I hold a few bitcoins and 'an undisclosed amount' of one other, which is and always will be... private.

Thanks Kurious.

I am just excited because we are STILL in a gimongous binary bet.  Both with BTC and with Monero... same dynamic.

Monero is either already pretty much done and will not surge again, or it's greatest days value wise are still to come.  It is starting to become so obviously the second one that it's just an exciting time.

And I agree that, though the old saw, "don't hold, use" really is a meaningful one, and may end up the exact mechanism that XMR ends up coexisting with BTC we loons are ourselves taking a big risk by staking (not like that) some Monero, running nodes and keeping the network going in the face of risk (governments, hacks, etc). and our risk stands to pay off.

Hopefully.

Ah... I will bite.

Well we're pushing towards the $100 mark now - and given Monero seems to be rising against Bitcoin little by little, looks like we're along for the ride.

Price in USD? (notwithstanding Bitebits comment about that pile of filthy fiat) well, if we end this year over $100, which looks likely and even conservative at this point in time... hmm.

Bitcoin is hoping for 10x (or more) so I think four figures for XMR is not a crazy thought.   I think EOY 2021 will be special - even if Monero just stays at the same rate against BTC, a thousand bucks is possible.

And don't forget, in this four year cycle world... Monero IIRC went up by 2,600% four years ago.  And in January 2018 in USD terms it was at over $500.

I suggest it might be wise to ignore Ricardo's advice between now and the end of 2021.

Little note:
I credited Bitebits above, but I should also give a shout to cAPSLOCK for his fine posts both here and on the WO of late.  

If 2020 is year of Monero, than will have to go way way more then only to $120.  I would say $200-1000.


Oh and for those that missed. Few days ago Monero yearly monetary inflation went under Bitcoins and is now at 1.77% while Bitcoins is at 1.78%.  It will stay this way for next 7 years. Around the end of this year Monero will also catch and surpass average gold mining inflation.

Is that the best they can muster?

Ah was that a reversal signal? or stop watching the BTC chart and focus on dollar?

Looking good.  And it already broke out against fiat around beginning of April or so and slowly kept continuing that trend.  Price could be around at least 200 USD by December.