Topic: [XMR] Monero Speculation - page 1360. (Read 3314669 times)

Everything is red on polo on btc market now. So its not only xmr. eth is also getting hammered significantly. The question is where is bottom?

It is because Monero is way too speculative at the moment.
There are not much (significiant enough) fundamentals to maintain the price apparently.
However, these issues probably will be fixed soon ^TM.

Personally I am still bullish but only long term. I am a buyer at 0.001.

How easily sentiment changes to bearish...

Now 250 is taking it in the knee caps.  Almost there?  240 ish?

No-one is disagreeing with this, it's just the lesser of 2 or more evils and it helps secure the chain. No-one is gonna stop botnets on ethical reasons. The way Os's are created and maintained inevitably will lead to them being around for the foreseeable future.

I did mention there are some positive (or neutral) arguments to be made for botnet's involvement in monero mining.

Is outside the scope of this thread somewhat, and my opinion is just that... My opinion.

I see botnets as a net negative for monero for multiple reasons. But the most compelling to me is the ethical angle.  Botnets herders are committing privacy violation, theft, and exploitation.  I am a "your liberty to swing your fist end at my nose" type of libertarian.  Botnet herders are unethical in my opinion.

1st bold: My take has always been that the botnet operators can sell at whatever price they feel was worth their time. All other types of professional miners (GPU farms) have a very obvious maintenance cost - electricity. Thus, there is some incentive to sell at a price that covers their electricity costs. For botnets, that doesn't exist.

2nd bold: I find it odd that the patterns of the past 2 years are being used to gauge what the price of monero will do. There are less and less monero being made every day. There is an event occurring in the next 4 months that will reverberate through the entire ecosystem in some for or another (bitcoin halvening). There's friggin ringCT coming eventually, which as I understand it, greases the development of multisignature transactions. There's so much good new stuff going on in our little space, coupled with some completely unknown stuff (the halvening), that I find it bonkers that the past two years is indicative of anything that will happen.

But then again I speculate bananas. This is all just manipulation. Damn shame its difficult to use Monero easily. I should work on getting shen's server app into the monerodo OS.

Lets not forget if the botnets are not mining they are DDoSing.

I tend to agree with this post mainly.
However as regards of botnet miners, what is exactly the bad thing about it (besides it makes it harder to mine for average Joe who has all the sympathies of us?). If I am not mistaken, botnets actually benefits the coin as the mining is more diversified as opposed to bitcoin that are mined in a large scale at "mining factories" in Iceland or China.

The charts look bearish, and I am looking at 0.001 btc price to be the price I will buy more. If we do not get there ever again, then great. If we get there, I will be a buyer. On the other hand, I am also a buyer on the way up (but obviously much smaller scale).

My current holdings are so small that I did not even bother to sell and dump on you guys so I guess I am sinking with you all the way to the bottom (whatever it will be). Some resistance is at 0.002-0.0025 levels but if there will be no bullish leg with major buying, we are definetely going down from there at some point. Usually it takes a few months for the price to consolidate and stabilize to 0.001.

That is no secret and it's never been denied.

My version of a reality check:

TA on Monero:
   Yes. It has meaning, but Monero is thinly traded on a single exchange primarily, and it has a fairly small liquid available float and it is tightly held by zealots while some traders duke it out with what's left over to shoot back and forth at each other.

Monero is an alt coin:
Alts are just simply negative EV propositions. Period.  Take a look at historical charts for all alt coins. The all look like triple black diamond ski slopes.  There are obvious reasons for this.  Most alts are scams. All alts are competing with papa bitcoin for value.  

Alts are all suffering badly right now.
Look at polo. Its a effing bloodbath.

Moneros dirty little secret is botnet miners.
There are some good arguments to be made for botnets.  But there are some unfortunate realities too.  One is it is highly profitable for bot shepherds to mine mine mine dump rinse and repeat.  Some may like making videos of the dumps with music soundtracks and digs at rich Finns.

All the talk about manipulation etc... Meh.  Sure there is some, but the conspiracy theories floating around sound pretty silly to me.

Monero goes up. Monero goes down.  Without a fairly lucky black swan type event 'down' is gonna dominate.

I personally think it's worth the risk.  I think it is one of the only cryptocurrencies which has a good shot.

cAPS out...

Like these -

3. Take advantage when the market misprices good companies. - Monero is mispriced

5. Buy stocks you would want to hold if the market were to close for 10 years. One of the worst habits a long-term investor can develop is obsessing over the daily moves in stock prices. Not only do daily price swings not matter much over long periods of time, but monitoring your stocks too closely encourages rash decisions such as panic-selling at a loss when the market is falling. - Hard to remain disciplined but never doubt yourself and your decisions when going long

Lol, I hear ya!

I can make this the bottom.  I will dump everything I have on polo (you probably won't notice)  and that will cause an abrupt increase in price, never to revisit.  Are y'all ready for this?!

BTC/USD is the wildcard.... almost impossible to predict.

There's also a lot of fucking bullshit in this thread right now.

Realistically the BTC/USD triangle should break within the next 5-7 days... that aside, the BTC halving is surely going to have an effect on alt market confidence on the interim regardless.

In the meantime, watch for the 50% retracement at around 0.0025. If that holds, then it should be a useful floor. If it breaks, all bets are off.

It's worth also mentioning that the latency period between a BTC spike and an altcoin spike is likely to be significantly shorter this time around. If BTC/USD spikes and XMR/USD remains constant (or falls) then certainly XMR/BTC will fall somewhat, but it should be expected that as soon as BTC/USD reaches its first peak then you'll immediately start to see profits flowing back into alts again, of which ETH and XMR will be the prime beneficiaries. Such episodic charities will surely only increase with every subsequent BTC/USD peak.

Then of course, there is the GUI, RingCT, Trezor support... all of which will act as counterpoint to any BTC increase.

So in conclusion: Keep an eye on the fib levels, keep an eye on BTC and BTC/USD, and keep an eye on Monero fundamentals.

Good luck!

How about to the previous low of ~230k?

for this conditions, i am selling half of mine, i can't hold any longer

I'd be interested to read some predictions too.

By the way...you sissies think this was a crash?

We're right back where we were 30 days ago.  Go over to BitcoinWisdom and look at the 30 day column for all alts.  We're freaking awesome.

Yeah, I know it's just Coindesk and they suck, but I'm surprised that I haven't seen this article shared:

http://www.coindesk.com/the-rise-of-the-cypherpunks/

Monero gets a very minor mention. 

Personally, I loved this quote:
"Privacy is necessary for an open society in the electronic age. Privacy is not secrecy. A private matter is something one doesn’t want the whole world to know, but a secret matter is something one doesn’t want anybody to know. Privacy is the power to selectively reveal oneself to the world."