Topic: [XMR] Monero Speculation - page 926. (Read 3314350 times)

I think you can as well buy now.

Totally untrue that Monero is mined entirely by botnets, I know at least 1 person who is not a bot.

Dear con artists and other thieves,

It appears 0.01 holds pretty well with this scammy shitcoin. 

Off topic, but this gave me a chuckle. https://bitcointalksearch.org/topic/m.17021307

OMG, LOL... "scam clone" and harping on the GUI? 

If this is all the trolls have to work with any more I think we're in great shape guys... LOL

Sweet of you to drop by Volyova.  

In answer, not quite - we still have our heads firmly in the sand though, just like your new avatar, it seems.

We have a GUI you can compile yourself which functions - but it's waiting for a daemon update to be a GUI which is idiot proof.

TLDR?

Soon™

Has this scam-clone got a gui wallet yet?

Somebody is dumping Monero down - did you wake him up?

This analyses neglects the order(s) of magnitude difference in the networks' relative strength.

The Bitcoin network's PoW is backed by ASICs consuming more power than Bangladesh.

Monero's CPUs and GPUs might be using a medium sized city's worth of electricity.

So we can't do a valid minute to minute (apples to apples) comparison, because it would be tremendously easier to attack and orphan/reorder an hour's worth of Monero's blocks than Bitcoin's.

And regardless of today's Cosmic Background Spam level, Bitcoin is not "overloaded" so long as competitive fees prioritize their tx accordingly.  Such panicky Chicken Little rhetoric has been thoroughly rubbished by the socioeconomic majority, and is now relegated to being the subject of mirth and contempt.

Monero does not (nor should ever) unflinchingly accept every bit of data people wish to store on its blockchain.

It is a distinction without a difference to dwell on the fact Monero's block size cap is flexible rather than static like Bitcoin's, because both approaches ultimately exclude marginal (IE priced out) use cases.

This is due to Monero's block reward penalty for increased size, a feature that Bitcoin lacks and cannot implement without also adding a tail emission, which is practically impossible due to Bitcoin's wholly intentional eschewance of contentious hard forks.

Monero has average 2 min blocks vs Bitcoin 10 min blocks so Monero does give a finer grains as to the number of confirmations to accept. "Settle" is in the eye of the recipient as to how many confirmations they accept. I have seen 15 for Monero so around 30 min, The issue with Bitcoin is that network is overloaded so it can take a while to get the first confirmation. My understanding is that Circle requires 4 confirmations for Bitcoin so in theory around 40 min; however since the network is overloaded it can take 2 hours to get the first confirmation ( I have heard of people waiting a day)  hence the 2.5 hour wait time.

The key technical difference here is that Monero can scale the blocksize to meet transaction demand while Bitcoin with its fixed 1 MB blocksize cannot.

Edit: Bitcoin currently has over 110,000 unconfirmed transactions. https://blockchain.info/unconfirmed-transactions.  It is hardly surprising that people have to wait a while for the first confirmation.

Honey Badger just doesn't care about all the FUD and moaning.  Never has, never will.  

Such pessimism has dogged Bitcoin from $1 to $10 to $100 to $1000, and I expect/accept the buttcoiner paradigm will endure until we get to somewhere between $10k and $100k, when central banks will use it as part of their foreign exchange reserve asset SDR basket.

If you unreasonably expect Bitcoin's trustless, resilient, decentralized consensus critical network to replace mutable, centralized 3rd party services like Visa and Paypal, that's your problem, not Bitcoin's.

How I wish I could send funds to my stock broker with BTC in 2.5 hours instead of 2.5 business days with ACH.  

And I've never had to wait 2.5 hours for Polo to send BTC, so that's probably due to Circle's conservative policy and/or variance.

Bitcoin tx broadcast instantly, so if you are gratified with that, it's fine.  Currently, we can't have instant confirmations in crypto.  The trade-offs involved preclude such crypto-magic until we get payment channels (which are coming Soon® after segwit activates).

Since the Monero network is far less secure than Bitcoin's, you must wait proportionally longer for the same degree of confirmation reliability (ie irreversibility) .

Let's very generously assume Monero has 10% of Bitcoin's blockchain security/immutability (best way to measure the different PoW is probably by how much electricity each consumes).  6 confirmations are recommended for Bitcoin so at 10 minutes each that's 1 hour.  Now multiply that by 10 to account for Monero's relative strength, and we get 6 [edit: derp] 10 hours.

I'm with you on being bearish on Bitcoin.  Even though it might go up in the next year or two, I can't stand using it.  I transferred some BTC from Polo to Circle pay today and it took over 2.5 hours for it to show up in my Circle account.  There is no way that will be adopted mainstream if that continues to be the case.  We want instant gratification, and results.

With that said, how quickly does XMR transactions settle?  I'm bullish on it from a trading perspective but don't have good technical comprehension of the specs. 

I dont know about him but im all bull right now. Bull on BTC and bull on XMR

It has been over two weeks now since your call so I wanted to revisit this one...

XMR was about 0.0085 BTC when you posted that.  It has been bouncing off that level and headed higher ever since, no big dumps or capitulations in sight.

Do you maintain your bearish medium-term outlook?  Should we be selling into this "strength"?  What was the reason behind your original call?  Are you just looking at technical analysis or is there something more specific behind it?

The value the particular  XMR / CAD position I acquired 15 months ago is actually worth more in terms of XBT than the XBT I liquidated to obtain that position. The increase of the XMR in terms of XBT more than compensated for the decline of the CAD in terms of XBT. The hedge worked even though my timing was far from optimal.

I still believe that a mix of XMR and fiat has a higher upside and lower downside than a straight XBT position. Long term I remain very bearish on Bitcoin because I do not see a a long term resolution to the blocksize scaling question. In the short to medium term it is possible for Bitcoin to appreciate in value, but that does not change my long term bearish opinion of BItcoin, Monero of course has very significant downside risks but, unlike Bitcoin, Monero also very significant upside potential.

That's easy to say in retrospect. The bitcoiners who sold at the $150 "peak" in summer 2013 are still waiting for their chance buy back.

You will always want more. 20k is nice, but if you had it, 30k would sound so much better.

Well put. Had a similar experience, still pissed at myself... But, now I truly know how some old bitcoiners must have felt at times!. Live and learn!

My problem when the rise happened is that I had 0.1 of supply (then) and I didn't want to decrease my stash.

I should have sold on peak and re-bought, but I held.

Now I will never get be able to get to a holding of 20,000 XMR and will have to settle for demi-whale status.

So, let there be a lesson for all: Be bold when others are fearful, buy when others sell, accumulate when others divest.  There may never be another chance like this. Monero is the real deal - what you can buy now will not be affordable in future.  

That is all, sermon over.

Indeed very early 2015 was the optimal spot to enter. However, we might be laughing the current prices also in late 2018. I would not be too surprised if that will happen so soon. Time will tell if I am right or wrong.

Oh dear, 2015 was the best year for accumulating XMR, back then you could get 600-900XMR for 1BTC and that was the time when I made most of my XMR stash. Those who haven't lost faith in cryptos during the times of hopeless depression have been rewarded - especially those that recognized which altcoin has the potential to survive and follow its big brother   
Since then BTC is more than 300% up and XMR is xxxx% up and its still less than 10US$