Quote from: KeyJockey on October 21, 2016, 02:41:27 PM

Quote from: f00bar on October 21, 2016, 06:40:42 AM

Quote from: TrueCryptonaire on October 21, 2016, 03:23:09 AM

More realistic view of achieving 10 000 usd/xmr is 10-20 years. It took 10-20 years for internet to break through so please give Monero also some years.

20 years is really a long time in terms of software engineering, so I would not expect that Monero still exists in 20 years in its current manner. I think good software will succeed in the end, so I'm holding my Moneros as long as necessary (long term investment 2-5 years).

In software engineering it's generally true that nothing's really ever any good until after about version 3.0 or so.

You have to completely throw out a lot of what's done at first in 1.0 and 2.0 before you can really get it right by 3.0 I think. It's difficult and not *always* precisely true, but "true enough" in general that I think it may apply here.

Bitcoin is crypto-currency 1.0 -- Satoshi is a genius and got a lot of it VERY VERY RIGHT. But not everything. Especially fungibility is seriously flawed.

Monero is crypto-currency 2.0 -- IMHO the anonymous CryptoNote creator/author "Nicolas van Saberhagen" may very well himself BE Satoshi (S.N. / N.S.) as Satoshi "disappeared" to go and "work on other things" just around the time CryptoNote appeared on the scene, I believe.

Because of the possibility of "Speculative Attack" ( http://nakamotoinstitute.org/mempool/speculative-attack/ ) it seems likely that ONE crypto-currency will start to take over the world, once some level of critical mass market cap is reached. We're still very far away from that point however... probably it's somewhere around bitcoin being worth $10,000 each at a minimum.

Whatever may end up being the final-form "version 3.0" crypto-currency may not have even appeared on the scene yet.

But we early-adopters here, all of us, are well-positioned to be able to take advantage of whatever's coming... Grin

SO, EVERYONE: keep THIS long-view kind of stuff in mind and go ahead and quibble over the day to day movements of price, and if you get your jollies by trying to time the market and pick up pennies in front of the steamroller here? Go ahead, have fun, knock yourself out.

But IMHO *THIS* point of view is the antidote to all the bullshit FUD nonsense and distraction that's cluttering up this-here Speculation Thread lately.

You're welcome

Monero is more like a 2.x or even 3.0 crypto-currency rather than a 2.0 crypto-currency. Cryptonote / Bytecoin should be considered the 2.0 crypto-currency here. Some of the key technical differences are:

1) Monero introduced a tail emission which makes Cryptonote / Bytecoin adaptive blocksize limit actually viable. This is a radical departure not only from Bitcoin with its fixed maximum number of coins but also from Bytecoin that also has a fixed maximum number of coins. Yes I recognize the that the tail emission was previously introduced in Dogecoin making Dogecoin a 1.x or even an, orthogonal to Cryptonote / Bytecoin, 2.0 coin.
2) Monero introduced in the last fork RingCT. It is in the code already and will be activated in the next fork. This is a fundamental departure from the base Cryptonote implementation that apart form enabling Ring Confidential Transactions also enables RingCT mixing of multi signature transactions.

Quote from: Anon136 on October 21, 2016, 06:15:53 AM

Quote from: TrueCryptonaire on October 21, 2016, 03:23:09 AM

The trolls are too short term here. They are expecting 10 000 usd by tonight and if the price will not go there in 24 hours they call it impossible.
Yes, Monero will be worth 10 000 usd each sooner or later but not today or even in 2016. 10 000 usd/xmr price tag is not impossible but the timeline of hours/a few months is unrealistic.
The shorters period it need to reach that price is 3-4 years - and that requires also skyrocketing and some mad money. More realistic view of achieving 10 000 usd/xmr is 10-20 years. It took 10-20 years for internet to break through so please give Monero also some years.

We will need a serious proper solution to scaling for that to ever happen. Way way more than just an adaptive block size, database optimization and pruning.

20 years is not an eternity in software engineering and much less in business models; however it is an eternity in hardware engineering. It is this critical difference between the lack of change in business models and the drastic change in hardware engineering that explains why Diner's Club and American Express are not the leaders in credit / debit / payment card payments today. Diner's Club's business model was based upon the technology of the late 1940's namely punched cards, tabulating machines and telegraph lines. By the early 1970's the widespread replacement of the tabulating machine with the mainframe computer, while still keeping the punched card and telegraph lines, had already made the Diner's Club business model obsolete. VISA (Chargex, BankAmericard and Barclaycard) and MasterCard were already taking over the market.

The adaptive blocksize combined with the tail emission is what will make the Monero business model still relevant should the real cost of "keeping the ledger" fall by several orders of magnitude due to changes in hardware, networking etc. In this scenario Bitcoin could very well end up being the Dinrer's Club of crypto-currency while Monero could be the VISA crypto-currency. Instead of simply dismissing fiat banking and credit / debit / payment cards it is important to learn from them the lessons of history. Those who ignore history are bound to repeat it.

Edit: Database optimizations and pruning are at best a linear improvement in the size of the blockchain. The real exponential issue is the exponential growth in the market during the initial stages. The latter will likely be addressed in the case of Monero by improvements in hardware networking, etc leading to a drastic drop in the real cost of "keeping the ledger".