/biz/ - Business & Finance

>>11894265
why does it always rise and fall in correlation with bitcoin tho?

>>11894265
unironic literal this

>>11894265
>>11894282
no pumps == no care && no reason to hodl

>>11894282
BTC is crypto in most minds

>>11894265
Correct.

>>11894265
Ripple is the only coin that's mathematically proven to be rock solid.

>ASIC "resistant"

>>11894614
?

>>11894265
XMR == utter tier -1 shit

>>11894265

Everyone found out its a copy paste from cryptonote that does actually mean they are too stupid to code and nothing special. They cant develop it and there are 1000 coins like xmr. It was just good marketing.

>>11894658
And Coca Cola is just sugar water

>>11894614
This. ASIC resistance is a meme. Specialized hardware will always out-perform generalized hardware. They marketed it as "anyone can mine" but when the algo changed hashrate dropped like a rock, meaning there were secret monero ASICS

>>11894698
they change some shit up every 6 months so you will have to buy new hardware every 6 months if you want to keep asic mining.

>>11894658

haha its literally the opposite of everything you said

>>11894734
Anyone with insider info on the new hash algorithm gets a head start on the new ASICs.

The leadership are securing themselves a mining monopoly.

>>11894776
maybe but since there was no bullshit ICO, they have to fund the development from something. and still it is not cost effective for them at all to change shitloads of hardware every six months, even if they start asic mining a few weeks before everyone else.

>>11894265
I am waiting for a dip tomorrow and will buy me some. Tired of risking and fearing.

>>11894658
Spot the ignorant

>>11894592
Ripple is not a coin, it is a company who can survive without XRP, which in the other hand is the antithesis of Monero, so what's the point of your post again?

>>11894832
Id wait until $10

>>11894776
This is just a little bit of the picture anon.

In reality their goal is to become full asic manufacturers, where they don't actually have to wait in line.

As such they can have asics shipped in less than the six month hardfork window monteros have proposed.

Following the establishment of such a venture, they will move into making chips with larger registers that can properly crypto so they can cut into Junipers marketshare.

And even that's just the beginning so don't get shook now unless you like the taste of regret over the taste of momentarily sitting on a smaller amount of money.

>>11894265
The only reason why crypto have any value is as a means of exchange for illegal activities.

Monero is actually used on the dark web just for that, so yes, it is the only non-shitcoin out there

>>11894951
>>11894776
are you the zcash shill team 6?

>>11894993

No anon. Do you remember how amd and nvidia stock flew sky high after mining? Well the new market is going to be in actual chip fabrication.

So here you go, all drawn out:

https://ycharts.com/companies/JNPR/market_cap

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

So cutting into that market even by one single percent, or 90 million dollars worth of actual money.

In crypto actual money is expanded about 50-100 times so you go do the math bud.\

Get shook now - cry later, or cry now and laugh later up to you.

>>11894282
Miners are into both when they shit down BTC resources they halt xMR

>>11894751
>Perhaps he's wondering who would tie a rope around someone's neck before throwing him out of a helicopter

>>11895064
why the fuck would I cry, if you are right, that means crypto is not dead and we will be rich AF since there is still incentive for big players to invest.

>>11894265
How do you think the market will react when Japan bans privacy coins next year?

>>11895096
Well then i guess i can only say that peanut butter and rice are effective at staving off hunger until someone actually invites you to a real meal. Buy some vitamin supplements to ride out the coming malnutrition. Because you might just be better off starving in 2019 and buying hand over fist rather than literally anything else possible.

>>11895064
I can't have any coffee because my hemorrhoids are raging and I'm trying to avoid bowel movements, and without caffeine my IQ is like 85. What do I need to buy to profit from this thing you just explained?

This turd got flushed like every other shitcoin

>>11895110

japan has no xmr markets so I expect almost no movement

south korea on other hand would cause me to panic

>>11895110
why would they ban privacy coins

>>11895110
Dexes get liquidity they need for people to stop using centralized exchanges. Either that or people just won't use that country's exchanges. There will always be a banana republic like Malta or something to set up a crypto exchange. Honestly you'd have to shut down the internet to stop Monero at this point. Can't really close Pandora's box.
>>11894951
>>11895064
The goal with Monero has always been ASIC resistance which is why Cryptonight was chosen as the mining algo in the first place. It was never ASIC friendly. Now, in a bull market that didn't stop Bitmain from unleashing ASICs for the old algo but it was pretty obvious when they went online in Nov-Dec 2017 and also pretty obvious that they were soundly broken by the hard fork a few months later. Nethash has stayed about the same since then with small rises and dips so it's safe to say that ASICs are temporarily defeated.

Eventually Monero will move to an adaptive algorithm that randomly alters itself making ASIC fabrication impossible. The claim that Monero's team is secretly mining with secret ASICs is laughable, especially in this market. There is no way they could afford to spin up chips at TSMC or GloFo and mine enough XMR to make it worth their while, especially at these prices.

>>11895406
Riiiiight, cryptonight mysteriously appeared right as fpga's crossed the 2mb limit.

kek keep diggjn

>>11894776
>gets a head start on the new ASICs.
that's cute and all, but it still takes 8-12 months to design good asics...

>>11895110
You do understand basically all big countries will eventually ban them..

>>11895314
See
>>11895577

>>11895577
Japan only banned the exchanges from trading them not ownership
You could still fire up a vpn and use morphtoken

>>11894658
>the coin with the least marketing from all coins
>its was just goot marketing
you fucking wot

>>11895501
no most of that time is spent waiting. literally waiting in line because there's a massive worldwide monopoly and like two gatekeepers.

That will change

>>11895595

says you

new york, the most anal jurisdiction approved Zcash trading

monero will survive and thrive

>>11895835
2021 all the privacy coins are illegal globally

>>11895853
Implying you can make a cryptocurrency illegal. How dumb

>>11894265
with all my heart

>>11894885
Wait until you get it for free and 5 dollars on top

>>11895888
trips of truth; loopy loop infinity sign 8 8 8

>>11895888
you can easily make a crypto illegal. it would be enormously challenging to cash out and even if you were ok with that, most ppl wouldnt so your illegal crypto would have no liquidity and would therefore be worthless

>>11896194
Yeah just like how my illegal deepweb percocet trade has 0 liquidity. It’d be impossible to actively monitor and stop people from dealing in “illegal” coins, therefore banning them would be worthless

Agreed.

Except I just lost fucking $150 of my drug money in a week.

FUUUUUUUUUCK.

>>11895443
You are completely delusional. What does that even mean? Cryptonight mysteriously appeared? It's been around for years and has, from the very beginning, been designed to be a pain in the ass for ASICs. FPGAs are about 8x less effective on Cryptonight V8 than they were previously but I'm not sure what that has to do with anything. Even still, FPGAs are very expensive to build and ASICs are now completely broken. I don't see what the issue is.

>>11894614
>>11894698
>>11894776
>>11894804
>"ASIC resistance is a meme"
>"secret ASICs"

Holy crap, imagine being such a complete brainlet like those guys. There's a picture for you.
It's far the most fair and decentralized PoW coin right now.

>>11896931
I have no idea what that guy is talking about. Legit schizophrenic I'm afraid. Monero is a model for how fair PoW should be done right now.

>>11894832
>it is a company who can survive without XRP
thanks just sold 100k

>>11894282
its used to transfer BTC privately

>>11894952
CNN pls go

>>11894698
The point of the algo change was to rid those ASC miners you fucking retard

>>11896771
>>11896931
>>11897086
Not convinced quite yet I might need some more convincing.

Tell me again how monteros aren't trying to single handedly fund their own chip fabrication by not entering into a technology war with asic manufacturers both present and future?

Because the price is going to go up, no debate there.

>>11897749
I am right tho

Literally there is no reason for anyone to use crypto unless you need to hide something from the government.

Crypto is a giant meme, and everyone here is a retard for falling for it. You deserve to get JUSTed for thinking imaginary money will make you billionaires

>>11897791
>what is decentralized governance

>>11894265
Shut up faggot, I'm waiting until it hits $10 to start accumulating more

let these retards invest in memeware like chainlink

>>11897852
Or you can just go 50/50 link/xmr and fuck off like myself does

>>11897838
Tell me one reason why anyone will want to use crypto for white market activities

>>11897969
political activism outside the overton window

>>11897969
Using monero on the internet is like using cash money in the real world at a gas station. There’s no trace. Some people don’t want every transaction recorded on a public ledger and the thought of everyone in the world using 1 public ledger where all transactions take place it’s actually retarded.

>>11897988
>>11897969
not wanting CC companies selling your data to marketing firms

>>11898002
This. It’s why people use ATMs and withdraw cash for everyday spending.

>>11897779
It's very expensive to tape out a specialized chip. I kind of wonder if Bitmain got ROI on their Monero ASICs. I'm guessing they did but it's actually hard to know for sure.

If Monero wanted to build a secret ASIC they wouldn't have chosen a memory hard algorithm like Cryptonight years ago and then started hard forking from it every six months to break Bitmain's ASICs. It makes zero financial sense to do that. If your plan is to scam people there are plenty of other ways to do that. Look at all of the scam ICOs 2016/2017 saw.

>>11897988
>>11898002
Again, this has no relevance to normies

Monero is better than all the other shitcoins, because people use it for actual transactions

>>11897969
financial privacy is a prerequisite for freedom.
the second the system can trace every money flow, they know who you are in detail and can and will (!) inevitably work against unwanted ideas/groups/people
if you're not a shill you are unironically retarded for falling for CNN's "hurrrrrr only drug dealers and tax evaders need privacy, what do you have to hide goy"-bullshit

>>11898073
Who uses it though? On the darknet BTC is still most commonly used, followed by LTC.
The reason LTC is #2 is because that's what people switched to when BTC fees got crazy. And it's fast.

>>11894282
lmao everything is in correlation with bitcoin, whether its bullish or bearish, depends on how good or shit the coin is

How the fck do I store this with any le autistis not on the grid computer, paperwallet bullshit complicated way? Got a good, reliable wallet?

>>11898049
Except it's not really a scam calling it what it is. There are people who are very aware that Monero will go up in price. These people are also aware that a new generation will need to be shipped every six months. If these same people have an inclination toward taking financial risks and have the mental resources accumulated in which to put this together then it's not a very big leap to end up with my proposed conclusion.

Even better is that a new generation will be needed every six months, which is just another term for planned obsolescence.

And this whole memory hard bullshit is just that. Cryptonight fit into FPGA's from infuckinception since 2013.

And it's all for a very good reason too. Because it's an absolute tragedy to sit in line for months while the gatekeepers take on bigger orders.

So we basically have something that will make a move from a few tens of millions of dollars to billions of dollars, that requires only a new chip within every six month window, and the only barrier to that is shortening a 9 month window to 3 months. I think that's a pretty reasonable challenge for literally anyone that wants to make a lot of money in this lifetime.

>>11898155
just buy a fucking raspberry pi clone for 10$, never connect it to the internet, generate passphrase on it, write down, send money to this acc
wipe computer, dont use it again. done.
only ever access the adress when you cash out

Just started with XMR today.
What is a good exchange.

>>11898073
gambling

>>11895339
Because people use them for illegal activity, like drugs and fraud as well as political dissidence.

>>11898594

>>11898155
sauce

>>11898177
>FPGA's from infuckinception since 2013.
Making an FPGA that was Monero friendly in 2013 would have been expensive as fuck. All the more power to anyone who wanted to fund that to secure the network's hashrate on a completely unproven coin. Maybe they got their money back but it was certainly not a guarantee.
>that requires only a new chip within every six month window
The whole six-month hard fork schedule is a temporary thing. Every single Monero dev that I've seen discuss the whole fork issue has stated that this is absolutely untenable for the reasons you've laid out. They don't want to have any kind of shadowy accusations being thrown around that they know what the algo is going to be switched to ahead of time. I'd still argue that six months is not even close to being enough time to make ROI on an ASIC, even in a bull market, but that's beside the point. They know they can't keep doing this because it's a hack solution to the larger problem of ASIC centralization.

Watch Howard Chu's lecture from a month ago on this very subject. They're already discussing more permanent solutions to keep ASICs out of Monero. Maybe not ready for the next hard fork in April, but I bet by this time next year they will have implemented some other ASIC bricking solution that involves a randomly adapting algorithm.

>>11899166
Would cuckoo cycle be asic proof?

>>11899200
My understanding on this stuff is limited but from what I've read, cuckoo cycle was once thought to be ASIC unfriendly but it turns out it isn't something they can't program around. So basically, no, it isn't ASIC proof. Nothing has been proven to be completely ASIC proof yet. Where there's a will, there's a way. So far.

>>11899322
alternatively what about a suite of many different hashing functions, and which hash to be used depends upon the nonce of the previous block

again not "asic proof" but would probably start to be cost prohibitive

>>11899355
Something like that, yeah. Check out this recent vid on Chu. I don't agree with everything he says but he makes some great points and has some good ideas for what it might take to stay ASIC unfriendly.
https://www.youtube.com/watch?v=y3RDdWuYqmQ

>>11895888
Bitconnect tanked entirely because of a cease and desist notice, what would happen in a worst case scenario is the SEC arrests spagni or whatever and makes it illegal for anyone to trade it, which means only people who buy 1 to 1 own it and no institutional money ever adopts it. It would still have its niche and be worth investing it but that would be a huge blow. Monero cant be shut down, but it can be hindered in growth by kike regulators.

>>11899580
There are something like 200-250 contributors to Monero and Spagni is a South African (lol). You can't just arrest some guy for contributing to an open source project. The SEC does not have jurisdiction over the entire world or the internet. I can't believe people think you can outlaw a cryptocurrency.

>>11899745
>The SEC does not have jurisdiction over the entire world or the internet

https://bitcoinexchangeguide.com/sec-shuts-down-1broker-as-crypto-community-says-binance-and-bitmex-are-next/

It was based in the Marshall Islands, which is the same place that is being pressured by the IMF because they want a national cryptocurrency and where the kikes were 1 vote short of a non confidence vote on the president over it.

>>11899745
Even if they arrest and take Spagni out of the game, anyone can replace him, even an anon core mantainer. If Monero is compromised, the CryptoNote core code is open source, so anybody can just fork and continue running the idea.

>>11899823
>burgers trying to overrule Asia
Burgers (and NATO friends) are faded to lose the world control to the chinks. It's just a matter of time.

>>11899823
>It was based in the Marshall Islands
The problem was they were allowing US citizens to trade on the platform. BitMEX has been aggressively shutting down American accounts and has prevented US citizens from registering there for a while. I agree that centralized exchanges are a huge point of failure with crypto but all this does is fuel an eventual switch to decentralized exchanges that are owned by nobody in particular.
>>11899937
Yep.

>>11894265

SHUT UP SHUT UP SHUT UP SHUT UP SHUT UP

>>11898155

>>11899992
although even dexes are being prosecuted. see the SEC going after the creator of etherdelta