Post
Topic
Board Speculation (Altcoins)
Re: [XMR] Monero Speculation
by
freebud
on 13/10/2014, 11:53:10 UTC
So rather than overcoming a 15 minute learning gap, you'd rather place your money in someone else's API, who is in control of likely 7.5% of the mint, even after they've been hacked in the last year, and Mt. Gox, and everything else? I'm not trying to be accusatory here, just stating what I see.

So collectively, I see that many people (With at least a representative ~7.5% of the mint) would rather have point-and-click operation with no functionality (as the 'coins' you see on the exchange are just representative of the value that you're owed, and not actual value tokens), over typing an average of five words on a command line with full functionality of what cryptonote offers you?
It's not about the learning curve, it's about the fact that I can't do anything on my laptop when running Monero. Because of this I can only run it when I actually want to use it, but then I have to wait for ages for syncing, or have to re-download the blockchain.

I have to ask, for speculation purposes, what is it, exactly, that people think they have bought?
1. The promise of a truly anonymous cryptocurrency with a fair launch.
2. A strong development team & active community that can fulfill the promise.
Currently I evaluate #2 less highly than when I bought.

Additionally, I'd like to point out that I think lower prices are great for higher adoption. So, do people think adoption would suffer if price rises upon release of a GUI wallet, or would adoption fuel a rise in price after release of a GUI? So, if the GUI was already 'priced in', could adoption suffer because the price increased to matched the hype related to a government GUI, or if the GUI was somehow prevented from being 'priced in' before its actual release would adoption then be helped?

Further, what do people view adoption as? Is adoption the moment the software is downloaded and run on your computer, or the moment you click buy on poloniex? I think that's a very important question. My personal view is that adoption is the moment the software is downloaded and run on my computer, and then used for its intended purpose. As this is a currency, the intended purpose would likely be to transact with it. So, as a third question, could adoption be the moment you transact with the software on your computer?

So, other than exchanges and the pending MEW game, what can I use this for to transact in?

Edit: Consider that you can purchase plots of land on the moon right now. Did you buy this as a gag for friends and family, did you purchase with the intent to hold onto it to pass down to your children in case the plot of land becomes claimable, or do you really think you're gonna go and move to the moon tomorrow? Maybe this is a weak analogy, but I consider that anyone who has not downloaded this software and used it on their computer to have not really adopted the coin, in the same way they don't intend to move to the Moon.
Monero is purely a speculative vehicle, and it will take very long time before real adoption is driving the price. Even in bitcoin speculation is what driving the price, and not adoption, although real adoption levels are certainly part of the speculative value.
Declining prices are bad for adoption, why would I tell my friends about my investment if I'm down 40%? why would I donate to the dev team? why would I spend my free time on developing services? Rationally, I should because that is what might actually prop my investment, but psychologically it's not that easy to do.
The DB & GUI are also part of the speculative value, because they are both necessary for adoption and are part of the confidence people have in the dev team. So, I think their release will drive up the price, which will put current holders in a position to help increase adoption.