When a currency moves, it usually doesn't do so gradually. Bitcoin rarely made new ground gradually, and neither do most cutting edge tech-stocks. They have violent upward movements that eventually smooth out into new price bases. Were the major Bitcoin moves pump and dumps?
Now why do assets usually make new ground like this? Well, the price explosion is fueled by new interest in the asset, and new money flowing in. Consider there are many reasons why XMR could be exploding upward right now, all of them legitimate. Perhaps the first few speculators in China have even caught wind of Monero.... now that could get real scary, real quick.
Topic: Is current monero's rise legit or just a pump and dump thing? - page 3. (Read 3359 times)
Monero has been massively underpriced for a long time. I think most people understood that a correction was more or less inevitable.
Pre-GUI release the 'proper' trading range for XMR should be between 0.004 and 0.005.
Post-GUI release you should really expect the 0.01 all-time high to be broken, although this depends on development variables.
Certainly, the SDC news helped, as well as an increased understanding of the significance of Ring Signature technology, coupled with Shen Noether's work.
It's worth also adding that Monero has a strong libertarian base as well as a technogeeky base - and that's something that other privacy orientated coins just aren't able to match (especially true for projects that are essentially a product defined by profit-acquisition.)
A privacy-orientated coin should always always be a grassroots, open-source, and decentralized affair. Yes - that may mean it can appear a little rough around the edges at times - as is true with a lot of open-source projects - but ultimately for the construction of something as universal as a currency there is no substitute.
I think most people understand this, however there will always be some that will never see it.
Pre-GUI release the 'proper' trading range for XMR should be between 0.004 and 0.005.
Post-GUI release you should really expect the 0.01 all-time high to be broken, although this depends on development variables.
Certainly, the SDC news helped, as well as an increased understanding of the significance of Ring Signature technology, coupled with Shen Noether's work.
It's worth also adding that Monero has a strong libertarian base as well as a technogeeky base - and that's something that other privacy orientated coins just aren't able to match (especially true for projects that are essentially a product defined by profit-acquisition.)
A privacy-orientated coin should always always be a grassroots, open-source, and decentralized affair. Yes - that may mean it can appear a little rough around the edges at times - as is true with a lot of open-source projects - but ultimately for the construction of something as universal as a currency there is no substitute.
I think most people understand this, however there will always be some that will never see it.
Have to say the unusually high volume seems like a pump and dump... Basically ethereum with another coin.
I have a feeling it is a pump and dump thing. Could be wrong though.
xmr rose quickly, and even quicker today.
When eth did same recently, many said it is just a scam, pump a dump thing to get noobs to spend their btc to eth pumpers.
What about xmr current sudden rise? Are ppl starting to see its real value, or its just pumping and dumping season for xmr now?
What are your opinions?
When eth did same recently, many said it is just a scam, pump a dump thing to get noobs to spend their btc to eth pumpers.
What about xmr current sudden rise? Are ppl starting to see its real value, or its just pumping and dumping season for xmr now?
What are your opinions?
Jump to: