Topic: [XMR] Monero Speculation - page 1397. (Read 3313576 times)

No, it does not demonstrate that the plan is viable. Not even close. Monero is a minuscule currency with zero merchant adoption. It's a speculative vehicle and nothing else. If monero grows to the same size as bitcoin in terms of infrastructure, merchants, network etc we're going to have the same issues that currently haunts bitcoin. Developers will disagree and things will stagnate. The 6-month hardfork thing is a good idea and a step forward. But I think it's naive to think that everybody will agree in the future regardless.

Care to elaborate on that? How can you say that "selling XMR is bad for everyone" ?

I can tell you that many a time I have sold and later wish I had sold more.

Well there's zcash for one. I suspect it will be massively hyped and leave little monero in the shadows for a while. May happen, may not. Side chains in bitcoin is another one. May not have any effect, but it could. We don't know yet. There could come out a new and better coin. A major bitcoin rally has at least in the past driven altcoins to the ground, that could happen again. Many scenarios could play out that are not bullish for monero. Things are looking good, but realistically monero is no guaranteed success.

Five figures for the Dolphin, six for the Whale.

I agree with most of this. But I don't think Monero should be on top, not even close. There's practically zero merchants for monero. Monero is fueld by speculation and basically nothing else right now. Yes, the technology may be great, but that's far from the only thing that matters. Saying that monero should be the top coin right now is exactly the kind of bullshit you claim to be tired of. It's hype and an attempt to pump the price of monero.

It could, just not overnight, and during that long period of time bitcoin could implement those changes. Even in 2011 there was probably several hundred news articles related to BTC for every one on LTC. BTC had plenty of merchant while LTC practically had zero (and still has almost zero). Just to put it in perspective. I'd say if something fundamentally different was invented, not just changing the hashing algorithm and increasing block rate, but something so new and different, kind of like how different bitcoin is to banks, it could happen a lot faster. What I'm getting at here is that there's a lot more to this than only technology. If technology is all that matters perhaps ETH or XMR would be the largest right now. But then you'll expect to see both replaced later by something else. Maybe tomorrow XMR will be replaced by zcash. That would take away all the trust in cryptocurrencies as a store of value and invalidated their use as a medium of exchange.

I assume this was directed at me? I never said that I believe no coin can ever overtake bitcoin. But I don't believe a technological improved coin is all that matters either. Bitcoin after all has 7 years history, it has a ton of merchants, a very large user base, lots of payment services, major developer backing etc, even has it's own ETNs. You can't just invent something with better technology and take all that over night, that's not how it works. My argument is that it takes significant improvements and a long period of time for something like that to happen, and it will probably involve major stagnation for bitcoin, over a long period of time. It won't happen just because people FUD like crazy on reddit, even though that may hurt the price. The massive number of merchants still exist no matter how many times people say bitcoin is dead. In fact bitcoin today is wildly successful. It's a success beyond what anybody could even dream of only 5 years ago.

Regarding your second point, I tend to agree with that. A coin with it's own utility can grow large and be complimentary to bitcoin. I believe Monero could be such coin. I also recognize that at some point side chains may be implemented in bitcoin, and a lot of the current altcoins will no longer be needed. It makes the most sense to build upon bitcoin due to it's enormous hashing power, infrastructure and financial investment, rather than bootstrap a new network from scratch any time there's a new feature. There's a possibility that bitcoin will be a protocol layer that people build upon (e.g through side chains) and that's a throne that may become hard to out compete. The TCP of money?

its getting increasingly harder to separate the people that are legitimately saying they think the price is going up from the people who are selling you 10k xmr and going short all while pointing at the moon.

guess its better to be richer than validated though..

The volume tells you the whole history. Since Feb '16 is in a new whole level, therefore price should reach a new whole level as well. Maybe 2-4x more, so around .01 seem even conservative. .02 could be spot on in this wave, but could be way higher.

It's just my resting bitch face.  I get that "surely you must be joking" reaction a lot

That sounded sarcastic

ETH bubble will pop first. It's been going up longer and at a steeper pace. XMR will make a longer, more steady climb.

Cool story, Bro.  Seems legit.  If so, I am imagining something like:  First XMR to 422, then ETH to 3700, then XMR to 500, then ETH to 5000, then XMR to 920.  Which bubble pops first?  You know what I would pick as the sacrificial victim - and it isn't XMR.  It seems like ping-pong-ing funds between ETH and XMR might do some dramatic things to your net worth, if you could time it right.  I might even play that game with some small change, just to say I did it.

I'm seeing an ascending channel 335-445k.

Momentum has shifted up and volume will begin spiking in an hour or two.

MACD 4 hour crossover imminent.

Current price: 360k

Prediction: Double top at 410-422. Another panic sell off back to the bottom of the channel. Rally to 500k on Tuesday, April 12th. =)

The price will be also probably at ATH-levels by 30 weeks. I would not worry too much as long as the community in general considers Monero worthwhile to hold in their plastic bags.
Also, the main issue is the funding usually and it seems to me everything applied for funding has been also fulfilled. That's a huge thing and bullish. There is plenty of money but shortage of workers.

In the Talmud it says: If I do not help myself, who will help me. If not now, when? And if only for me, who I am. I think that is the philosophy you have learned here.

Common just sell ur bag so monero can go on without u

And if you're short, they should contribute to you?!

One half of zero is zero!

I prefer fairweather friends over the red letter gang any day 

That is not what the proposal states.

I can't tell if the buy and sell walls are owned by the same person, but they don't seem to be. The sell walls move around too much in what seems like an ineffective way.

These shenanigans often make me consider going back to forex, where at least I can't see the blatant manipulation.

Well, we kind of ran out of excuses not to    I think I've effectively proved that it can be done with general computer illiteracy, minimal hardware, and minimal connection.  I run pretty much 24/7, because there's no reason not to.  Now if I could swing one of those fancy monerodo units, and give my poor little lap top a rest...