Topic: [XMR] Monero Speculation - page 12. (Read 3313576 times)

   A couple days ago, that was a good thing.  Not so thrilled with it today.

I dunno man, you've been wrong for so long and so consistently that i'm starting to think of you as a contrarian indicator.

Our cute little black sheep...  Always swimming against the current.

So it looks like BTC is still the prime mover of the whole market.  A lot of ETH heads were thinking that the merge with the beacon chain could get some action back and somehow get some wind behind the sail for a move up.  But I'm not so sure with the bad economic outlook.  People won't want to gamble in internet coinz if they really have to scrounge their way to make a living.  It could be hard times ahead...  For the next couple of years at least before TPTB opens the tap again.

There are quite frequent dev updates it seems:
https://www.tari.com/updates/

^  Ey johnfoss, do you have any news on Fluffypony's Tari project?  Is that still happening?  The last time I heard Fluffy talk about it was when the planned wallet addresses would be in emojis.  Lolol.  I don't know how that would work but it's hilarious in a cool way.  But yeah...  I think it's one of the most promising projects to be built in the space.  Sad if they abandoned it.

THE MONERO MOON (ISSUE 41) IS OUT NOW! Grab a coffee or a beer and kick back for a read. Like, share, and spread the word of Monero as it continues to grow and offer unmatched financial privacy.

https://www.themoneromoon.com/p/the-monero-moon-issue-41

LOL, he doesn't even know how to use a bbs.

I doubt roach worked a day in his life, momma's boy living in the basement.

Is your dumb roofer named R0ach?

Yeah, he's a "Dumb Roofer" (as he describes himself) that owns many properties now and got a judge disbarred.

He didn't listen to me years ago when I told him to sell his silver and buy bitcoin but he's learning his lesson there.

Lol.  Not as high as those people who actually think that Binance is naked shorting XMR, that's for sure.  That's the thing with perps, Binance or some other exchange don't really need to 'naked short' anything anymore.  All they can do is short the perps with leverage and push the price down in spot.  And it's easily done with how much liquidity Binance controls and how mostly low XMR's overall liquidity is

Ha Ha. But he got the message pretty quickly. First he mentioned shitcoin and then Monero. That is quite a fast learning curve.
And the other thing with Bitcoin.... he will also understand soon.

I texted this too my buddy that I've been trying to get into bitcoin for a decade, he own land in panama.



This was the conversation.




I haven't even mentioned Monero to him as I still can't get him into bitcoin.

I think your high.

As expected...  But here's the thing, open interest in XMR perps is a tad more than double compared to its May 2021 highs.

You guys can check it out here:  https://www.coinglass.com/BitcoinOpenInterest

Binance leads the way followed by newcomer FTX then OKex then a few other exchanges.  And I think the accusation that Binance is doing some sort of naked shorting on XMR is wrong.  They could do it 'legally' through perps and won't have any repercussions.  No need to sell coins they don't have. 

THE MONERO MOON (ISSUE 40) IS OUT NOW!

https://www.themoneromoon.com/p/the-monero-moon-issue-40

I think so.  And I thin little by little this will happen naturally.  I just don't see any way to really accelerate the process all that much.

As to speculation.  I see us likely bouncing off 6.



Ugly.  But a cooling off is in the cards.  Bitcoin looks awful right now too.  We will see!

Perhaps by understanding the purpose of bitcoin first, which is far more discussed, worked and therefore has more educating content. People can't just jump from not acknowledging the significance of self-custody to buying XMR.

They have to firstly understand what's bitcoin, why is it important, why shouldn't the people use centralized exchanges, how transactions look like, what does it mean to run your own full node, what's chain analysis etc.

Well.  I made a very black and white statement, and I think it's a matter of degrees like everything in life.  There are all kinds of people buying Monero.  LOTS of them just want to make a quick buck.  They saw some youtube video that hypes Monero for one reason or another and so they went to Kraken or Binance and bought a little bag and left it there on the exchange with the rest of their shitcoins.  And they wait hoping that one of them will turn out to be "the next Bitcoin".

Maybe they know Monero's reputation as the "Pravacy coin".  But just like all the people with "their" Bitcoin in "their" Coinbase wallet. They think of "crypto" as a riskier new techno version of stocks.

And so you have this little core of toxic bitcoinners running around saying NYKNYC etc, but the vast majority of people have not figured out what self custody is important, and why it's even moreso with Monero since BEACUSE so few are taking custody of it the exchanges can sell their reserves (that the hold on behalf of their customers) short, or loan those monero to others to sell.  And on top of that they can sell a predictable safe percentage of their customers Monero on paper only since they know they will never have to ship anything.

I do not see any easy way to get enough people to understand this for it to matter a lot.  I think it's astonishing the little grounswell that the monerun caused.  Imagine if it really started taking hold.  With the majority of the customers.  THEN we would see something.

Any solution for this? How to reach these people and educate them? Where do they come from? Twitter, Tiktok, random crypto discords?