Monero Pricing and What to do with XMR Thread

Patrick

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Since this discussion was interleaved in the Monero Mining Performance thread I am pulling it out.

Discussion topics for this thread:
  • Wow/ oh no! - Did you see XMR Pricing
  • Ways people have found to use XMR to either get cash or goods. Legal goods only.
Example #1:
We have Monero as a payment option to buy STH lab gear Q1 2017 STH Lab Cleaning - I hope someone pays with XMR!

Example #2:
As of writing this post, XMR:USDT is up to $22.8. High of $24.50 a few hours ago and a $25.10 high a few days ago. BTC has been under pressure lately and is sitting at around $1045, well off of $1200+ a few days ago.
 

Klee

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"Legal goods only"

If you look at the history of the Internet some of the bleeding edge stuff was first used by illegal or shady web sites before it was more mainstream.

Look at bitcoin, it never really took off until after it was used for shady purposes.

But now those who do that now are starting to use Monero because of the anonymity it offers over bitcoin.

So I foresee Monero increasing its value quite a bit in the future.

The only problem with that is if governments make anonymous virtual currency illegal then that would change things quite a lot.

So I am taking a wait and see attitude.

XMR is still climbing.
 

MiniKnight

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Price is down a bunch today. $21.7 right now from $24 yesterday.

The network hashrate is way down too. So if you think the price is going back up, it's a good time to mine. Yesterday the network was 60MH/s now 53MH/s so block rewards are going back up to over 8.2 already.
 

chilipepperz

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Mar 17, 2016
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The price is falling for XMR it's like 19 now. BUT the network hashrate is going up to over 60MHs from 52MHs yesterday. Crazy.

-$5 this week is -$175 for me.
 

Patrick

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Nice recovery thus far today... I am certainly starting to notice the swings more as the quantity I have goes up.
 

Klee

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Thats a big jump, I need to get off my rear and complete my Biostar TB85 GPU mining rig.

Output from XMR-STAK-CPU:

"[2017-04-09 09:04:32] : Result accepted by the pool.
[2017-04-09 09:04:53] : Difficulty changed. Now: 556054."
 

Patrick

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Yea 20% more capacity in 24 hours on a weekend is huge! I went from a 2.5XMR/ day pace to now projected to do 1.8 or so.
 

Patrick

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@Klee up to over 83KH/s now! Yikes!

Was there some new hardware/ miner revolution or something? That pushed down earnings by a huge amount and basically added 1/3 more capacity to the entire network in 24 hours.
 

Klee

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It could be because the upcoming hardfork on the 15th, maybe everyone is mining just in case the value goes up after.

From r/Monero
"Monero roadmap:
This is not an official list, but the best list with my knowledge. I'm sure I have forgotten something, or that something is wrong. Also, development may be completed at different times. For instance, 0MQ may be finished in three months, but it will probably be included in the September release. It is hard to tell:

April 15 - Hardfork

  • Improvements to dynamic fees to place relief on pool operators (and I guess everyone).

  • Improvements to dynamic blocks to reduce mempool backlogs.
May-ish

  • Alpha release of Kovri around this time. This will not bring any integrations with Monero, but it will offer basic I2P router functionality, which is a major step forward.
September - Hardfork

  • Mandatory RingCT.

  • Increases minimum ringsize from 3 to 5 (perhaps larger).
August-December

  • 0MQ, which makes using Monero easier for merchants/wallets/exchanges to add Monero.

  • Fluffy blocks, which reduces the bandwidth needed to run a full node by not needing to sync the latest block information twice.

  • Wallet sync optimizations, which can "prefetch" your transaction info from other nodes, create a ring signature, and tell other nodes about it while still waiting for your node to fully sync.

  • Wallet sync optimizations by /u/fireice_uk to cut wallet sync times (this may be done sooner).

  • Multisig, which will allow for greater adoption and perhaps allow for an integration in OpenBazaar (or similar).

  • MyMonero lightwallet. Ask /u/fluffyponyza for the latest progress here; the info I know is from this video.

  • Smart mining in the GUI.

  • Monero sub-addresses or disposable addresses.

  • Website redesign (someone is working on it but no ETA).

  • Optimistic: hardware wallet support from KeepKey or Ledger.

  • Optimistic: a payment process system. Projects include PayBee and Kasisto.
More than a Year

  • Second-layer network to decrease transaction size and fees, and increase confirmation speed.

  • Mobile wallets, from official GUI port and/or from outside companies/organizations.

  • Monero and Kovri integration.
At Any Point

  • Improved translations in the official GUI/CLI.

  • GetMonero.org website translations.

  • Too many things to list.

  • Translated documentation on Monero (ie: how Monero works in other languages).
 

Patrick

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You are right. I have already shut down anything that is not on fixed cost power. Still it seems odd that the network goes from 60MH/s to 85MH/s right now in ~24 hours if the overall profitability decreases by 25%.
 

Patrick

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@Klee where is that chart from?

The Minergate seems to have several folks running 1MH/s farms that are not usually there.

Also, it is interesting to see dwarfpool (the one I am currently using) is so consistent. I wonder if some big miners figured out how to exploit pplns.
 

Patrick

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Looks like a positive price trend lately. Broke out of the 20-22 range.
 
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