Topic: Monero (XMR) Speculation thread - page 3. (Read 50287 times)

Yep, i saw those. Someone is buying large..

I would like to buy some Monero coins, but have not any idea how to do it. Did some googling, but didn't find any good help. If anyone could help! Thanks for any help!

Looking at the 1 minute chart, there was 1 buy of 9632 monero @ 02:01 and 1 buy of 5000 monero @ 08:53 (both @ 0.0036). You can look it up yourself. I am in timezone GMT +1 (Amsterdam), so you have to adjust for you own timezone.

The Core Team is looking for Monero elevator speeches.

Instantly thought of you.

http://www.reddit.com/r/Monero/comments/2e4w03/moneros_elevators_speech/

Doing work!  I like it.

Colour me curious. Can you elaborate?

I just had a lovely meeting with one of the founders of an enterprise who does bitcoin swaps with hedge funds.  Funds often are not interested in the custodial issues of bitcoin.  In other securities, their prime broker would handle such details.  What they are comfortable with is swaps. In order to gain exposure (long or short) to bitcoin, they need a swaps counterparty, and banks won't touch the stuff.  The company is quite a clever niche player, with a lot of growth potential.  If they ever wanted a machine learning / econometric modeling guy with crypto exposure, I'd be tempted.  I will definitely hook them up with fund contacts which are interested in the crypto space.  While most of the principals have plenty of BTC exposure in their PA, the enterprise is delta-neutral, and lives on carry.

He was very interested in Monero.  I hit all the high points, the natural monopoly liquidity provider niche, the enhanced upside relative to BTC, the quality of the development work, the fair launch, the rigorous crypto, the fungibility hedge.  Most other aspects I might emphasize to another audience were mostly redundant.  He got it right away.  He asked about the relation to DRK, Zerocash, which he was aware of, and BCN of which I informed him, and I addressed these to his satisfaction.  He won't take my word for any of this, I am sure:  He will do a thorough work of diligence, and add it to the portfolio of options which are provided to his company's clients, which are mostly funds, family offices, and prop desks.

I think it was a productive meeting, for Monero, because this company is a network nexus in the financial community for things crypto.  The proselytic impact will be highly levered by the social network centrality of the subject.

During the last 2 weeks, I have:
- fulfilled the "20 monero pizza" deal when the former Mayor of Rakvere (no previous association with any crypto) drove 30 kilometres to deliver 2 steaming pizzas to Malla;
- paid a part of our chef's salary in XMR;
- paid a part of our waiter's wages in XMR;
- signed a business venture denominated in XMR, paid my share in XMR;
- sold some XMR for BTC, OTC;
- tried to buy some similarly, but was defaulted upon (thanks escrow);
- decided to accept XMR for everything in Malla, in equal terms as BTC.

Not bad for a currency without any usage whatsoever...

That is entirely a function of how much capital people are willing to flow into the coin. That in turn is a function of both usage and speculation, so in practice at this point almost entirely speculation, though we are beginning to see the first glimmers of usage.

Very hard to say. 

Wall is at 0.00384 now, rpietila how high do you think this run-up will go? Fundamentals are looking much better than the run-up to 0.01 and 0.0058..

@ Aminorex, which price do you think is sustainable? Looking at mining and inflation?

There is already over 9,000 XMR infront of the wall! Bids are building up nice. This is the true trend reversal we are seeing.

Now there seems to be a lot of manipulation.

- If you want to remain sane, look only at the daily VWAP. They tell that the bottom was reached Sunday, and since that, it has been going up daily.

- If you want to make money, make markets (putting both bid and ask orders a little bit away from the spot). This way the manipulators' volatility becomes your gain.

lol that manipulation - let us see how it works out

Thanks for the insight! Wall seems to be real as there is being sold into, it's now @ 0.00361. Probably just a big XMR holder pushing up to price for his own good. Personally I don't think its an accumulator and that the market was oversold @ 0.0029. The seller already sold through 0.00334, but I think he ran out of coins @ 0.0029 and there were no other sellers to back him up..

The bids, asks and walls outside the current market (more than 10k xmr away) matter nothing.

The recent buyer who bid the market up 10% and set a huge wall to defend the gains and buy more, is very meaningful. If the wall does not budge, it will probably never get filled. But it may be that a dumper feels this is the way to get rid of the coins at a good price, in which case it would get sold into, triggering a fall but solidifying the economy (stronger hands).

Also, in a more insidious level, this might be an accumulator whose market idea is to give the market hope, then sell to his own wall in a repeating sequence while getting also others to sell and set up an avalanche back to the 3 area where he could buy more. But I think the market is too tapped out for that. The last volume to buy was when defending 334, and the dumper smashed us all. But see - we are already ahead!!

The developments just now are difficult to interpret, but my call that bottom would be felt last Sunday is still in force. (Some may confirm that I laid out my prediction already a week in advance, but then it was not public yet.)

26k XMR buy wall @  0.00358. Also the total ask dropped to 124k, which was around 200k in the recent downtrend I recall

thanks for your replies

I really found it interesting how there were 200,000 XMR for sale just recently on Poloniex...then about 70,000 xmr were consumed in the past few days without any increase in the buy depth (less than 200 btc). Just now is the first major support at 0.00358.

Looks like my call was 1 day late! I'd like to give everyone a pat on the back if they held strong...I really hope for your sake you did. Otherwise buy back soon.