XMR/Monero speculation thread..

[botoda]

new markets XMR/BTC and XMR/USD are available for trading.
https://www.livecoin.net/en/trade/index?currencyPair=XMR/BTC
https://www.livecoin.net/en/trade/index?currencyPair=XMR/USD

 

[oda]

I'm mildly partial to xmr (held a decent amount for a long time; sold some, but not all, in September), pretty much for the reasons mentioned by @Zangelbert Bingledack above. What irks me a bit are some of the coin's supporters (then again, that's hardly different from btc) and what appears to be a rather glacial pace of development (which, on second thought, isn't that different from btc either)

 

[Bagatell]

What irks me a bit are some of the coin's supporters

That caused me some concern too.

 

[79b79aa8]

that and the fact that the immediate use cases (besides speculation) are straightfowardly crime and laundering.

 

[sickpig]

@79b79aa8 I think that characterizing money fungibility as something that facilitate crime and laundering is dangerous.

Fungibility is a key property of sound money.

 

[79b79aa8]

of course you are right about fungibility.

i should certainly like for any possibility of BTC not being fungible to be dispelled. but i do not think i am off-base about present actual use cases of XMR.

 

[sickpig]

@79b79aa8

got what you mean and you have a point.

still I can't stop thinking that black markets were and are an essential bootstrap mechanism for every new crypto curr. This happened also for bitcoin.

Let say that for me fungibility is mostly a privacy and sound money future preserving fence rather than anything else.

 

[sickpig]

Kraken just launched monero trading

http://blog.kraken.com/post/155126375697/kraken-launches-monero-trading

 

[Bagatell]

@sickpig fluffy has also been talking to Coinbase.

 

[sickpig]

I have to say that I'm impressed. XMR has grown by ~50% in btc terms in the last 30 days.

That means that in USD terms it has more than doubled in the same period (1.5 * 1.44 = 2.16)

 

[freetrader]

I didn't think Bitcoin would hit $1000 and EUR 1000 as fast as it did, but now I won't be surprised if Monero gets to $20 and solidly in #3 spot pretty soon, easily within Q1. It's inverse price correlation with Bitcoin certainly seems to have been broken for the moment.

So close to overtaking Ripple for #3 spot on coinmarketcap...

 

[ladoga]

There's now one week to the next hard fork that should fix some problems introduced by Ring-CT on the dynamic blocksize cap. Transactions should confirm much quicker from then on.

I think this lastest bubble hasn't yet fully deflated (i still expect XMR to revisit sub 0.01), but maybe we get small bump in the price due to this HF. Ofcourse with possible news such as a mobile wallet getting released or new DNM adoption we might skip the bottom entirely and go for new ATH.

 

[ladoga]

I'm mildly partial to xmr (held a decent amount for a long time; sold some, but not all, in September), pretty much for the reasons mentioned by @Zangelbert Bingledack above.

I don't think that Monero/Bitcoin spinoff is realistic as codebases are fundamentally different.
You can't simply slap Monero features on Bitcoin. Making a new cryptocurrency from scratch would probably be easier than making it Bitcoin based. (Or why not simply fork Monero?)

What irks me a bit are some of the coin's supporters (then again, that's hardly different from btc)

Agreed.

There has been some valid critism in the Monero community about obvious pump schemes like DASH though. All of the following is verifiably true:
- 2 million instamine
- emission schedule for the total supply reduced on the go from 80 to 20 million which further increased the value of instamine
- numerous rebrandings (xcoin -> darkcoin -> dash)
- 3% of addresses holding 90% of total coins, which happen to be masternodes thus making market liquidity extremely low.
- 5% of total coins held by single address.

But in any case people should not go to DASH reddit/forums to troll about it. That's just poor taste.

and what appears to be a rather glacial pace of development (which, on second thought, isn't that different from btc either)

I think that development has been quite active. Last year they got Ring-CT ready (No other coin has Confidential Transactions working yet) and hopefully this year Ring-Multisig and maybe I2P/Kovri integration one after that, which together should make feature set pretty much complete. After that the core development is likely to be simply optimizations and fixing bugs.

There has been 100 different contributors to Monero git and number of commits is also steadily higher than most major alts. (107 merged commits in last month alone) tho i guess that's not very good metric as it tells nothing about the quality of said commits.

What I find somewhat worrying about Monero is that transactions are 30x larger than Bitcoin's. Many optimizations can still be done, but I presume that scaling will become an issue if it ever gets to Bitcoin level adoption.

 

[Bagatell]