Monero (XMR) thread

(12-15-2017 06:28 PM)Kona Wrote:  Sounds like I'm in at 308.90. it took 32 mins and I got like 20 fucking confirmations.

I'm feeling good about this. Monero sort of rhymes with Modena and that's where they make Ferraris and that's what I want.

Looks like I'm already up a buck and a half on cryptocompare.

Aloha!

This post was at 1:28 pm, it's now 8:28 pm.

335.69!!!! Thats a gain of something percent someone with a calculator can tell you, but it makes me happy. You gotta go big in with this stuff.

So far so good.

Aloha!

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(12-15-2017 11:34 PM)ms224 Wrote:  

(12-15-2017 11:06 PM)the chef Wrote:  Naive newbie question here:

Since the key feature defining Monero is it's privacy, what's stopping whale investors from dumping their money in it and avoiding taxes? Like a digital off-shore bank account of sorts.

Its the point of the whole thing.

You'll still have to pay taxes if you convert your Monero to fiat in most cases. If you suddenly add 100K to your bank account, the IRS is gonna want to know where you got that money from. You'll have to pay income or capital gains.

However, until it is converted to fiat, there is no way to tax or regulate it.

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Recently bought some monero it's definitely the best and only real privacy coin out there. Great investment imo and far superior to bitcoin and many of the other alts.

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Visualizing Bitcoin:



Price: $19,000

Visualizing Monero:



Price: $320

I wonder which one is a better buy??????

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Read the wiki article on cryptoNote if you want to learn more about monero. Monero is a fork of Bytecoin, a CryptoNote based coin. The reason for the fork was that Bytecoin was heavily mined already by a small group of people.

As always I suggest people DYOR and put their money it what feels comfortable and in something they understand.

https://en.wikipedia.org/wiki/CryptoNote

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Samseau, I like where your heads at with the visualizations. For monero, however, let's use cars. Preferably Ferraris. We'll get to planes later.

Bitcoin:


Porsche 959. Revolutionary automobile. I believe first car with traction control. Fastest street legal production car ever, at the time.

Monero:



Ferrari 812 Superfast. Come on. It's called the Superfast for crying out loud.

My only qualm thus far is all the different prices for the stuff all over the internet. Need centralization, as I am a jumpy excitable dude.

Aloha!

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(12-16-2017 11:04 AM)Samseau Wrote:  Visualizing Monero:



Price: $320

This post was at 6 am. Now at 8:25pm I see monero at $346.77. This is good if you ask me.

Aloha!

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(12-17-2017 01:31 AM)Kona Wrote:  

(12-16-2017 11:04 AM)Samseau Wrote:  Visualizing Monero:



Price: $320

This post was at 6 am. Now at 8:25pm I see monero at $346.77. This is good if you ask me.

Aloha!

That's not good. If people are willing to buy quickly, they're willing to sell quickly. Slow and steady wins the race.

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I'm all about the impulse. Dopamine. My cryptophilosophy is that this is like a video game just with a bunch of money.

Aloha!

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Monroe is what bitcoin should be.

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Good piece on one of Monero’s competitors next year , billed as “the most secure coin ever”
https://medium.com/@TheBigBeesKnees/why-...1513525984

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(12-17-2017 10:54 AM)Que enspastic Wrote:  Good piece on one of Monero’s competitors next year , billed as “the most secure coin ever”
https://medium.com/@TheBigBeesKnees/why-...1513525984

This thing is shit. It is not and will never be a Monero competitor. "It's like bitcoin on steroids." Yes this is actually one of their marketing phrases. Give me a break. Also, there is a failed contestant from The Bachelor that is shilling this shit. What more do you need to know.

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(12-17-2017 10:54 AM)Que enspastic Wrote:  Good piece on one of Monero’s competitors next year , billed as “the most secure coin ever”
https://medium.com/@TheBigBeesKnees/why-...1513525984

Very misleading chart. It's main claim to fame is that it uses Tor and Monero does not.

Why is this misleading? Because Monero uses I2P, which is extremely similar to Tor, and is in fact superior to Tor in many ways.

Monero uses I2P network:

https://getmonero.org/resources/moneropedia/i2p.html

I2P vs. Tor:

https://geti2p.net/en/comparison/tor

Basically, I2P is decentralized version of Tor. On top of that, Monero is building Koveri with I2P framework, and promises to be the most badass version of I2P ever created.

Monero has a genius dev team, and builds their own tech. I2P tech is newer, even more private version of Tor.

So for TokenPay to claim they are better because they use older tech is just them trying to pull a fast one. Definitely looks like a pump and dump shitcoin.

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Thanks Samseau, I'll add this one to my portfolio - I like it.

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I believe privacy coins should be at the center of all crypto portfolios. For my judgement, Monero is the best. If you are technical, or just find technical chatter interesting, I recommend the Monero Monitor podcast. The developers involved in this community are non-trivial.

Bitcoin is a dog relative to most other altcoins in terms of transactions per second, fees and fungibility. Buy BTC if you want to hold it, but if you are interested in diversifying into altcoins, Litecoin is a better intermediary vehicle.

You can convert LTC and others to many other altcoins, some of which are seeing massive gainz, via coin tumblers. The best ones don't require an account. Two such tumblers are Shapeshift.io and Evercoin.

Research interesting coins and choose them based on their unique attributes, developer communities and keep in mind overall coin supply. Some altcoins have 100 Billion maximum supply which is a massive difference from BTC's 21M maximum.

Pre-mined coins and groups which are offering ICOs are essentially crowdfunding. Be very judgemental about them. Be mindful about coins that have deep institutional backing, i.e. banks, Silicon Valley VCs and corporations. This could be both good and bad. The same with coins originating from Asia - billions of potential investors or sketchy enterprise? Indeterminable at the moment.

Smart Contracts coins are a worthwhile play. Which one will be the winner? Incredibly hard to say. There are probably less than 10K people on earth who really grok what smart contracts are and what they could be. Speculative but tremendously interesting.

Beware coin fatigue! There are around 1400 different coins listed today. It's tremendously difficult to follow them all. Most investors will gravitate to top performers. Jerking yourself off about some obscure hipster coin with a flashy website and thin fundmentals could yield losses.

All of these coins are being exchanged on 24 hour markets - this is a new concept. Watch whats happening when Beijing wakes up. Some exchanges and tumblers have low traffic around 2AM New York time if you're having trouble loading sites. Pretty much everyone on Wall Street has baby boomer mentalities.

Stay plugged in and keep your eyes open. Madmen and criminals probably have good instincts. Good luck lads.

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(12-18-2017 12:19 AM)Samseau Wrote:  

(12-17-2017 10:54 AM)Que enspastic Wrote:  Good piece on one of Monero’s competitors next year , billed as “the most secure coin ever”
https://medium.com/@TheBigBeesKnees/why-...1513525984

Very misleading chart. It's main claim to fame is that it uses Tor and Monero does not.

Why is this misleading? Because Monero uses I2P, which is extremely similar to Tor, and is in fact superior to Tor in many ways.

Monero uses I2P network:

https://getmonero.org/resources/moneropedia/i2p.html

I2P vs. Tor:

https://geti2p.net/en/comparison/tor

Basically, I2P is decentralized version of Tor. On top of that, Monero is building Koveri with I2P framework, and promises to be the most badass version of I2P ever created.

Monero has a genius dev team, and builds their own tech. I2P tech is newer, even more private version of Tor.

So for TokenPay to claim they are better because they use older tech is just them trying to pull a fast one. Definitely looks like a pump and dump shitcoin.

How does Monero compare to PIVX? I think that is an excellent privacy coin also.

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Y'all should check out particl.

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(12-16-2017 02:33 PM)Kona Wrote:  Samseau, I like where your heads at with the visualizations. For monero, however, let's use cars. Preferably Ferraris. We'll get to planes later.

Bitcoin:


Porsche 959. Revolutionary automobile. I believe first car with traction control. Fastest street legal production car ever, at the time.

Monero:



Ferrari 812 Superfast. Come on. It's called the Superfast for crying out loud.

My only qualm thus far is all the different prices for the stuff all over the internet. Need centralization, as I am a jumpy excitable dude.

Aloha!

If you're using cars, what about the Holden HK GTS Monaro



$3,607 brand new.

Now fetching over $300k

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(12-21-2017 12:24 AM)redbeard Wrote:  Y'all should check out particl.

Glad you posted this.

I may add one reason Particl doesn't (or won't) have masternodes is because they believe that masternodes provides an incentive with unintended consequences -- centralization.

If masternodes were enabled, entities could try to get as many of those as possible to take control of governance and the blockchain. The PART team decided against masternodes for this reason.

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Would like to also point out that while the project seems pretty cool, there still are some scale issues that will need to be tacked before it can reach the size and volume of BTC.

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(12-21-2017 02:36 AM)CleanSlate Wrote:  

(12-21-2017 12:24 AM)redbeard Wrote:  Y'all should check out particl.

Glad you posted this.

I may add one reason Particl doesn't (or won't) have masternodes is because they believe that masternodes provides an incentive with unintended consequences -- centralization.

If masternodes were enabled, entities could try to get as many of those as possible to take control of governance and the blockchain. The PART team decided against masternodes for this reason.

I quite like Particl, but masternodes itself isn't an issue if it's implemented how PIVX does it.

They use community distributed governance, so all tokenholders can vote on proposals (unlike DASH which only gives voting rights to masternodes).

They also use a see-saw reward mechanism, so it's profitable to be both a wallet staker or masternode.

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(12-21-2017 12:24 AM)redbeard Wrote:  Y'all should check out particl.

Notice, for both Particl and PIVX:

1. Not a privacy coin. Anything that lists "privacy optional" isn't a privacy coin. Anytime you have a huge section of the blockchain that is readable, makes the private users extremely vulnerable. Deduction is a bitch.

2. Self-funding dev budget of 10% or more is a scam.

3. ZCash and Dash in particular are jokes to even consider themselves privacy coins, being trusted setups. Dash at least has speed going for it but it's not even remotely private.

4. And finally, only Monero is built on something other than Bitcoin codebase, of Cryptonote, which is why none of these other shitcoins will hold a candle to it in the long run.

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After this last crash of BTC, Monero came out a clear winner moving up in rankings against other altcoins (listed above BTC gold by default now, and top 7 in price):

https://coinmarketcap.com/

This is because there is a genuine demand for Monero, being used to actually buy real things in the real world.

I hope more crashes come, and further separates the wheat from the chaff.

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Intresting analysis on monero! Bought some.
Any opinion on Verge XVG, another privacy coin which moved up ranks in this crash?

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(12-23-2017 10:46 AM)Vainikka Wrote:  Intresting analysis on monero! Bought some.
Any opinion on Verge XVG, another privacy coin which moved up ranks in this crash?

According to their black paper, Verge uses a mix of the privacy techniques all other coins are using. Tor/I2P, chat features, RingCT, etc, but I couldn't find it if was built on cryptonote or bitcoin code.

In any case, this coin seems not to offer anything the other coins already offer, and has a tiny network. It may be good for a quick pump and dump, but if it's getting into the crypto space this late in the game then needs to offer more than just a combination of all the latest features. Needs innovation too. So I do not see any future for this altcoin.

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