Topic: [XMR] Monero Speculation - page 1383. (Read 3313576 times)

Just to be clear how are you defining "money"?

nice analysis

A bagholder is an investor who is holding onto an asset that has depreciated in value from his average buy price. I think we can agree on that definition or something similar. A bagholder may have lost a lot of faith in the asset due to being in the red for a very long time. When the price finally goes up to his entry level he seizes the opportunity to get out ahead or break even. That's why there's a lot of resistance on previous tops like 0.0043. Many bagholders are selling around that level to get out of the losing investment. Now we already had one attempt to break it, which means that some bagholders most likely have sold. That leaves less bagholders for the next attempt.

And once we break that resistance, suddenly a lot of people will be in profit. Once we break 0.0043, every single person who bought monero since October 2014 and held is in profit. The bagholders have sold and the newcomers who just bought in at 0.0043 won't sell for a while. That means there's suddenly a lot less resistance and what we often see is major spike in price before profit taking occurs.

We don't really need a a very big pump to overcome the bagholders, we need to break through the resistance at 0.0043, which isn't very far of. I'm just looking at the support and volume lately, and it seems very strong to me. We already had a correction, so now we're ready for another attempt. I'd say the chances are pretty good this time, and I think if there was too many bagholders left we would see stronger selling than we did near the top, but it wasn't a straight line up and down like the previous one.

Its not a joke it can still be sold into

the joking order book is back, very classy.
 

I dont think a big pump will happen too many bagholders

The 37K bid wall been eaten alive. Maybe darkflarbs is the next +20%

Thanks, TK2

Yep, that's a good minimum amount to own I think. But since monero is still cheap, and if you believe in it, buy more. I bought a lot more

I've diversified into BTC. I'll buy other altcoins when I see something promising that isn't in a bubble. My major investment besides BTC is XMR. I do hold some small amounts in other coins like SJCX, NMC, AEON. Eyeing zcash, eth and a few others.

Super strange market today.  Other than XMR, damn near everything on the Polo board that has traded 100BTC in volume is either:

--in the red, or
--in the midst of a 20%+ pump

Inquiring minds really want to know what TheKoziTwo has diversified into!  If you're willing to tell all...or even most!

Overbooking

In other news BTC broke 420 on finex and XMR just leapt up.

So what's next...? 

So a guy who owns 100 BTC should buy 85.7 Monero? Or maybe 171.4?!!

I think I have bought too many, then  

EDIT: spelling

That's true, but the chances of that happening are astronomically small, so it doesn't make sense to apply that strategy today. If we think that way and ignore non-crypto then right now you should work on increasing your BTC stake as it is the largest and most successful crypto. The ultimate coin basically. I think personally that a good idea is to diversify from BTC into promising projects with a rate % similar to that what you own of BTC. E.g if you own 1% of all BTC, then perhaps you should diversify so that you own 2% of all monero, and then sell half of your moneroj after the price doubles, leaving you with 1% of bitcoin & 1% of monero. This way, you'll do well regardless of which coins end up doing best long term. The problem of course is finding those promising coins before the price has bubbled. I think XMR is still in pre-bubble stage atm though

The real question is if Monero is good enough money to be the ultimate store of wealth. Always the best money will not grow big. For instance, almost any altcoin is better than btc (even LTC - the transaction confirmations are faster) but they are not good enough to replace btc.
Therefore, the coin that will replace Darkflarb as the ultimate coin has to be substantially better than XDF.

In case Darkflarb becoming the ultimate coin it means you will be earning your salary in XDF and therefore all the other projects are considered as investment (such as ETH or even BTC) with the goal of reaping larger share of XDF.

It may very well be that Monero is the best money on the planet right now (technologically), but at one point Bitcoin was the best money on the planet. Perhaps a year from now something else will be the best money on the planet. While I won't say that Monero is a bad investment right now, I would be cautious about having as my only goal to own more monero than I did before. In fact if you bought in heavily around 0.001-0.002 it would probably be a good idea to take some profit along the way and not necessarily aim to own more monero but to get your initial investment back, and perhaps a little profit. That way you'll be better suited to invest in whatever happens to be the best money next week while also holding a stake in monero in case it turns out to be the long term winner.

I can only speak for myself, but I bought in heavily all the way down to 0.001 and has diversified during this recent uptrend. All the monero I own at this point is almost pure profit, which means that I can ride any further price increase or decrease while knowing that regardless of outcome I won't lose my initial investment. The additional benefit is to have those funds available for other investment that may come around.

What % you sell depends on your risk tolerance and initial investment. For example perhaps you sell 50% after the price doubles, then you'll have your money back and hold half of your current moneroj. I think a good way to go about it is to decide on the amount of XMR you want to own long term and then buy more, perhaps 2x what you want to own. Then you diversify as the price goes up until you have sold the exceeds, recovered your initial investment and still hold your preferred long term position.  

yeah, riiight.... that is some solid evidence right there.....

Placing a buy wall slightly above market, creating a combination taker / maker order, is a very effective way for someone to buy a substantial position at market with minimal slippage. This is what I suspect our 40K XMR buyer just did.

Edit: The idea is accepting that your order will move the market while at the same time minimizing slippage.

Just because people don't come on here everyday to talk about the same things over and over again doesn't mean people are leaving... Regular people have regular lives to live. This is just a hobby for me and I'm sure a lot of other people feel the same way. I pity the fool who spends all there time clicking refresh on these threads every minute to get the "inside scoop" from "trading experts".