4 ms·

Excuse my lack of economic sense, could this be a pump and dump?

VMG 10y ago
It would not be out of character for the cryptocurrency scene. Quite the opposite.
Nursie 10y ago
On the one hand, yes, on the other.... If so then the market that made the announcement risks its reputation and its ability to function. But this sort of reputation leverage could be the people running the market making one last big hit of cash before leaving the game. Or it could be real. Very hard to tell.
- gwbas1c 10y ago
  Looks like Monero was created to solve tangible problems in the Bitcoin experiment. Remember the phrase "Bitcoin experiment." The initial Bitcoin proposal claimed that it's an experiment, and implied that it wasn't designed to scale to general-purpose commerce.
  - wyager 10y ago
    It implied that it was an experiment, but it never implied that it wasn't suitable for general purpose commercial usage. By all reasonable metrics, the experiment was and continues to be successful.
- gwbas1c 10y ago
  Looks like Monero was created to solve tangible problems in the Bitcoin experiment. Remember the phrase "Bitcoin experiment." The initial Bitcoin proposal claimed that it's an experiment, and implied that it wasn't designed to scale to general-purpose commerce.
cloudjacker 10y ago
Yeah sure, or sell to people that need Monero later Monero traded at around 45 cents for the better of two years, and had trended up to around 2 dollars, still a good investment before Bloomberg, Oasis and Alphabay found out about it. It is $8 now, with market cap of around 100 million, but bitcoin had a marketcap greater than that when Silk Road was the only marketplace in town. Dark net markets are much much bigger than when Silk Road was around, and two of them are adopting Monero Price, meet math.
wyldfire 10y ago
Well, perhaps, but unlike some altcoins, monero actually provides real utility over bitcoin. Ring signatures [1] make for better anonymity and fungibility of the currency. [1] https://en.wikipedia.org/wiki/Monero_(cryptocurrency)#Privacy https://en.wikipedia.org/wiki/Monero_(cryptocurrency)#Privac...

VMG 10y ago

It would not be out of character for the cryptocurrency scene. Quite the opposite.

On the one hand, yes, on the other.... If so then the market that made the announcement risks its reputation and its ability to function. But this sort of reputation leverage could be the people running the market making one last big hit of cash before leaving the game. Or it could be real. Very hard to tell.

gwbas1c 10y ago
Looks like Monero was created to solve tangible problems in the Bitcoin experiment. Remember the phrase "Bitcoin experiment." The initial Bitcoin proposal claimed that it's an experiment, and implied that it wasn't designed to scale to general-purpose commerce.
- wyager 10y ago
  It implied that it was an experiment, but it never implied that it wasn't suitable for general purpose commercial usage. By all reasonable metrics, the experiment was and continues to be successful.
gwbas1c 10y ago
Looks like Monero was created to solve tangible problems in the Bitcoin experiment. Remember the phrase "Bitcoin experiment." The initial Bitcoin proposal claimed that it's an experiment, and implied that it wasn't designed to scale to general-purpose commerce.

cloudjacker 10y ago

Yeah sure, or sell to people that need Monero later Monero traded at around 45 cents for the better of two years, and had trended up to around 2 dollars, still a good investment before Bloomberg, Oasis and Alphabay found out about it. It is $8 now, with market cap of around 100 million, but bitcoin had a marketcap greater than that when Silk Road was the only marketplace in town. Dark net markets are much much bigger than when Silk Road was around, and two of them are adopting Monero Price, meet math.

wyldfire 10y ago

Well, perhaps, but unlike some altcoins, monero actually provides real utility over bitcoin. Ring signatures [1] make for better anonymity and fungibility of the currency. [1] https://en.wikipedia.org/wiki/Monero_(cryptocurrency)#Privacy https://en.wikipedia.org/wiki/Monero_(cryptocurrency)#Privac...