Topic: [XMR] Monero Speculation - page 1127. (Read 3314330 times)

Indeed so. And another notable reality is while the rest of the alt world is drowning in blood monero is holding in is new range.

Well, the rest of the alt world outside that shitbag of a discredited, broken coin Shadow cash.  Anyone know any reason for that?  Its even wilder than the rise that other shitbag Neos took Yesterday...

That's true. Mainly the shorters are selling. The Great Wall which probably according to conspiracy theories Donald Trump built behind the scenes of anonymity, was for the purpose of accumulation. Accumulation is done by putting some thin bids under the wall and waite for the shorters to dump into them.
If that scenario is what happened, the shorters need to cover. They wish to find someone who wants to sell even lower. If they are unable to find any greater fool they need to admit they lost and buy higher which put buying pressure and accelerates the growth both with price and adaption.

Looking at BTC charts now I realise that the rise in BTC price of 30+ USD coincided with the XMR correction; so, I don't think it was a major player or miner dumping, simply the connection between the two markets readjusting.

What is interesting is that while BTC is stabilising around $600USD, XMR is now back over .02 (this time yesterday that was a new ATH remember).  So, let's not be glum chaps

Yes I think this is insightful. Duly noted.

I think one reason I was beating around the bush a little bit is that I understand that there are differing opinions on the validity of bot net mining.

It's funny I've been thinking about this in light of the new darknet connection to Monero. See, that doesn't bother me in the slightest because everybody is doing what they do eyes wide open. It's like playing poker. When an inexperienced fool sits down at the poker table he does so of his own free will and when he is taken advantage of by people who understand the game it's part of the contract. Everyone there is on equal terms everyone there signed up for the same thing. I see this is analogous to the darknet usage of Monero. I know some people will look at that and think that it has negative ethical implications but on that I am agnostic at worst. My single complaint against the botnet herders is just that they are taking advantage of unknowing people. Literally stealing resources from those who don't know any better and who didn't sit down at the table of their own accord... at least not knowingly.

But this is an old argument.

And I agree that miners are generally bottom feeders in their mindset of mine, dump, rinse, repeat... but I would think botnet herders would be even more so considering their inherent desire to get in and out pretty quick. My comments weren't really meant to bring up this whole discussion as much as they are to point out that there are some people who are going to be inclined to dump the crap out of the coins that they mine while the rest of us look on in horror as the price takes a big tanking. I think understanding it helps one get used to it.

I don't know what percentage of the big drops come from this type of player, but I think they could be as common as the big whales taking profits. It adds to the volatility of the coin. But frankly that gives me a better chance to get in and out of what would normally be a very risky trade and scalp a Bitcoin here and there now and then. My hit rate is much higher than any other time I've tried to do short term trading thanks to the predictable volatility.

Indeed. 

And why say catalyst when you can say catalysator....you and Aminorex are going to get on like a dwelling ablaze.

I'm not going to pretend to be any expert on mining or blockchains, either politically or technically; however, I do recall reading a long post by anonymint (did he post anything other than long) in which he produced the rationale for XMR mining.  He basically said miners are in it for the cash, except it and make sure you have a coin that does its best to keep mining profitable -- it sounded like common sense to me.

The rise of the XMR price is also due to the XMR holders who are not really that much interested selling at these prices. This creates some kind of shortage of supply and is a catalysator of the rising price.

I'd tell a sister or female friend to be careful walking around in the dark. Wouldn't you?


Achievement unlocked. Blockchain rational thinker.

Sounds a bit like the classic "she was asking for walking around in that dark ally at night" defense .

But yea. From a completely self interested perspective, I don't care if they dump. I would rather miners secure the network and dump than not secure the network. It is good for us that this thing is happening and in no way our fault.

Not sleeping particularly well, which for me is very unusual.

Fitful slumber disturbed by anxious dreams of multi-BTC winnings and losings at the Margin Poker table.

Waking to to check the market, take a leak, and nap again.

Adding wealth to the portfolio at an unprecedented, nearly embarrassing rate, only to feel self-aware numbness and meh about booking yet MOAR HYOOG GAINS.  

The ennui of watching previously unbelievable sums surge on and off the XMR books.

Perhaps it's just all the wine and declining melatonin.  

FIFY.

Miners of just about every coin, if not every single coin, are bottom feeders, don't give a shit about the network, and want the most money (and I love them for it; no hate here). This was proven in Ethereum where you saw miners jumping between ETH and ETC, in both directions, at the first profitable opportunity. They couldn't care less which coin or network they were supporting.

The Monero difficulty is hitting new highs, making the network more secure and valuable. Virtuous cycle.


People should secure their computers. Failing that, every bot node that is helping to secure the Monero network is one less that could be used to attack it.

Remember when litecoin was "the botnet coin"? In the pre asic days. It was like the bad sibling. Litecoin was scandalous. I havn't thought about that in a long time.


Hes talking about botnets.

Sounds like a description of the majority of miners of all coins -- in it for the money, no.

Current network rate 31.32MH/s.  Highest I can recall seeing.  Good times.

As I have said a couple times there is a breed of miner associated with Monero who is not particularly interested in the Monero Network itself. They are interested in using as many computers as possible to make as many Monero as possible as fast as possible and then to sell the majority of those also as quickly as possible.

Monero has always had a certain percentage of this breed of miner. The only thing different now is there is more incentive for these sweethearts to help "secure our Network".

When the price drops, it often looks like big whale dumps. Then it gets pushed right back up in a more organic manner.

A 1111BTC wall on the sell side at .0193....someone really wants to keep the price down.

Bullish.

Humans are diverging into two groups, along the Morlok vs Eloi tropes symbolized in The Time Machine.

We are the Neophiles, which Robert Anton Wilson described having as the following basic characteristics:

They are the Neophobes.  They hate new things.  Thinking objectively about abstract ideas makes their brains sore with cognitive dissonance.

We Morlocks carry the burden of intellect, production, and advancing civilization beyond the stars.

The Eloi live in blissful ignorance, but they are our natural prey, and so they perceive us as terrible monsters.

i daren't go back through the pages since the last time i was here -- things were getting heated with dafur and slapper, so i hate  to think what a serious correction added to the mix has resulted in.

Calm down peeps, its the same coin with the same sound fundamentals and the same bright future, adoption is going to bring lot s of new people and it will be bumpy at times but its the same coin it was in 2014 and it was four weeks back.

Or as Adam would say...