[XMR] Monero Speculation

[smoothie]

Nothing to see here, markets are "dead". Come back next summer. 

[nanobrain]

Nothing to see here, markets are "dead". Come back next summer. 

"Dead"?......undead?

[NeuroticFish]

  Here we are, back into the late 03/16 price levels.  Nice green candles, and all quiet in the speculation thread!  XBT also creeping back up, putting XMR back in the $2 range again.  I like it.

Yep, the price looks nice lately.
Was there any new development or news? What made the price rise?

[explorer]

 Here we are, back into the late 03/16 price levels.  Nice green candles, and all quiet in the speculation thread!  XBT also creeping back up, putting XMR back in the $2 range again.  I like it.

Yep, the price looks nice lately.
Was there any new development or news? What made the price rise?

Buyers  


Large market buys like those generally have me thinking short closing... 

[TrueCryptonaire]

So guys do you seriously think Monero will replace Darkcoin as # 1 anon coin?

Basically it requires close to ATH for Monero (assuming Darkcoin will not rise).

[Hueristic]

So guys do you seriously think Monero will replace Darkcoin as # 1 anon coin?

Basically it requires close to ATH for Monero (assuming Darkcoin will not rise).

Pretty solid assumption to make.

[GingerAle]

So guys do you seriously think Monero will replace Darkcoin as # 1 anon coin?

Basically it requires close to ATH for Monero (assuming Darkcoin will not rise).

Pretty solid assumption to make.

#1 by what metric? In terms of actually being an anon coin, Monero already replaced xcoin / Darkcoin / DASH.

In terms of marketcap who gives 2 shits. I propose that in order to be #1 in market cap, we just airdrop 10 bajillion coins into a burn address. Because the total number of coins is calculated by adding up coinbase, and because we can't track where the coins go after coinbase, it'll work.

Three cheers for gingeropolous.

I speculate that we are soon to begin our climb to the moon. I'm hoping that this bail in news will tank prices enough to nab some monero in the $1.50 range (somehow).

[Hueristic]

So guys do you seriously think Monero will replace Darkcoin as # 1 anon coin?

Basically it requires close to ATH for Monero (assuming Darkcoin will not rise).

Pretty solid assumption to make.

#1 by what metric? In terms of actually being an anon coin, Monero already replaced xcoin / Darkcoin / DASH.

In terms of marketcap who gives 2 shits. I propose that in order to be #1 in market cap, we just airdrop 10 bajillion coins into a burn address. Because the total number of coins is calculated by adding up coinbase, and because we can't track where the coins go after coinbase, it'll work.

Three cheers for gingeropolous.

I speculate that we are soon to begin our climb to the moon. I'm hoping that this bail in news will tank prices enough to nab some monero in the $1.50 range (somehow).

Apparently I forgot to bold (fixed), Easy assumption to make DRK will continue it's slow death and path to obscurity.

BTW price was below $1.40 the other day which I pointed out.

[MalMen]

In terms of marketcap who gives 2 shits. I propose that in order to be #1 in market cap, we just airdrop 10 bajillion coins into a burn address. Because the total number of coins is calculated by adding up coinbase, and because we can't track where the coins go after coinbase, it'll work.

I will provide one burn address... you guys should transfer half of yout holds there and I promise that you will never see that XMR again  

[birr]

We are currently on a record run. Never before (counting from Jan 2015) have we stayed above 0.0025 for as long as we have now.

 

Until recently, monero was pretty steady against the dollar.  The xmr/btc chart exhibited the volatility.  
A  cryptocurrency unaffected by bitcoin's travails makes a wonderful investment vehicle.

But bitcoin's recent drop dragged monero down with it.  That makes bitcoin's weakness monero's weakness.
You don't even see that if you focus on monero's price only in terms of bitcoin.
You want decoupling.  Instead what we've seen is increasing correlation, which is disturbing.

[TrueCryptonaire]

So guys do you seriously think Monero will replace Darkcoin as # 1 anon coin?

Basically it requires close to ATH for Monero (assuming Darkcoin will not rise).

Pretty solid assumption to make.

#1 by what metric? In terms of actually being an anon coin, Monero already replaced xcoin / Darkcoin / DASH.

In terms of marketcap who gives 2 shits. I propose that in order to be #1 in market cap, we just airdrop 10 bajillion coins into a burn address. Because the total number of coins is calculated by adding up coinbase, and because we can't track where the coins go after coinbase, it'll work.

Three cheers for gingeropolous.

I speculate that we are soon to begin our climb to the moon. I'm hoping that this bail in news will tank prices enough to nab some monero in the $1.50 range (somehow).

Marketcap is pretty much the only term you can compare the coins. Other terms are more "off-topicish".
Correcting market cap by helicopter money is not legitimate thing to do. Numberwise there are 6.7 million Darkcoins mined, and 12.5 million Moneros mined. Therefore it should be easier to increase the market cap of Monero than with Darkcoin.
There are simply way too many coins available for the markets compared with the rate of adaption, that's the issue why the marketcap is still pretty low. If 99 % of the coins were hovered from the exchanges, the price should be pretty inelastic to even tiny increase in demand.

[aminorex]

You want decoupling.  

Ain't gonna happen until the fiat pipe directly into XMR >> the pipe into btc.  Given that the btc pipe will grow by order of magnitude soon, with etf listings, that will take a long time.

Anyhow, price equilibrium now is dominated by cost of mining.  Still quantum foam here. 2usd should remain an attractor for a while, ceteris paribus.  Partly because of the round-number bias.

[ArticMine]

...

Marketcap is pretty much the only term you can compare the coins. Other terms are more "off-topicish".
Correcting market cap by helicopter money is not legitimate thing to do. Numberwise there are 6.7 million Darkcoins mined, and 12.5 million Moneros mined. Therefore it should be easier to increase the market cap of Monero than with Darkcoin.
There are simply way too many coins available for the markets compared with the rate of adaption, that's the issue why the marketcap is still pretty low. If 99 % of the coins were hovered from the exchanges, the price should be pretty inelastic to even tiny increase in demand.

For the market cap of Monero to increase to that of Dash this would require and increase of 3x-4x in the marketcap of Monero if we assume no significant increase in the market cap of Dash. An increase of 3x-4x in the marketcap of Monero is quite possible if the GUI and RingCT (currently under development) come to fruition without some unforeseen coin killing event. If we look at the market cap history of Monero the impact of the database alone is readily apparent. https://coinmarketcap.com/currencies/monero/#charts. Dash has very recently broken its 2014 market cap high. What is interesting about Dash is that over 61% of all the Dash ever mined are tied up in the masternode network. Over the short term this can provide strong price support; however by the same token if there is even a small loss of confidence this could magnify a bear market. It would be interesting to see what the impact of Monero overtaking Dash in market cap would have on the price of Dash for example.

[americanpegasus]

This topic is legendary.  The damn thing has so many views my phone thinks the views count is a phone number link.  
  
 
  
How can anyone see Monero and not realize this is going to have a cap of over a billion one day?

[dEBRUYNE]

Crosspost:

Hi there.

If someone wanna try easy solo monero mining feel free to give a try to my pet project https://steemit.com/cryptocurrency/@sammy007/solo-mining-monero-for-fun-and-for-the-greater-good

[aminorex]

This topic is legendary.  The damn thing has so many views my phone thinks the views count is a phone number link.  

~200x as many views as the next-most frequently viewed topic in the alt-spec forum.

Yeah, this one is da bomb, ticking down.  But vision, and confidence to act, is, thankfully, in short supply (hence hyper-valuable).

[aminorex]

Price speculation:

Higher highs and higher lows in XMR\BTC have persisted since the last days of May.  The trend channel aggression has been moderating on a scale of weeks, which suggests that it is asymptotic to sustainable price levels.  Every channel baseline since May is bullish, but recent action suggests a choice upcoming: Continue the mid-June support line upward, or go nearly sideways on the July support baseline.   

I am inclined to expect sideways action through August, until declining supply or a demand catalyst (e.g. GUI) force it up.  I find it difficult to imagine anything more than a brief excursion below 280k going forward because of the $2 attractor, assuming stable XBTUSD.  My new marks for cheap/dear in the coming week are 298k/348k, but I always keep in mind that the risk is asymmetric, and mostly upward, especially on longer horizons, and moderate exposure accordingly.

[dEBRUYNE]

In case anyone hadn't seen it yet, an update from moneromooo:

The last milestone's reached!

• A lot of ringCT integration - almost ready now
• a version check between daemon and simplewallet (to avoid compatibility issues)
• some RPC fixes (integrated address transfers missing payment id, set/get ban having a missing _ in name)
• port of my old cold storage patch to ringCT (partway through)
• better output selection (to avoid using related inputs if possible)
• new commands to export/import signed key images (for optional auditability)
• plus the never ending random fixes

Thanks

Source: https://forum.getmonero.org/9/work-in-progress/2410/a-continuation-for-all-purpose-programming-of-what-needs-to-get-done-in-monero?page=&noscroll=1#post-5141

I suppose it will be time for a new FFS thread for him soon™.

P.S. The Ring CT branch can be followed here:

https://github.com/moneromooo-monero/bitmonero/tree/rct-private-fork

P.P.S. "Old cold storage patch" is the offline signing code as far as I know, which was previously listed here:

https://github.com/moneromooo-monero/bitmonero/commit/3c44e9fb6c1b57852d37780414ed6e42afc19afb

[dEBRUYNE]

MAAM #26 Monero Ask Anything Monday

https://www.reddit.com/r/Monero/comments/4wppcc/maam_26_monero_ask_anything_monday/

[Febo]

 Here we are, back into the late 03/16 price levels.  Nice green candles, and all quiet in the speculation thread!  XBT also creeping back up, putting XMR back in the $2 range again.  I like it.

Yep, the price looks nice lately.
Was there any new development or news? What made the price rise?

Buyers  


Large market buys like those generally have me thinking short closing...  

Yes. when someone buys 20k XMR moves market simply because there are no desperate sellers. Seems miners hold what they mine. It is not demand that pushes price up but lack of supply.