[XMR] Monero Speculation - page 1447.

americanpegasus

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Quote from: Quicken on March 18, 2016, 09:53:35 AM

There's a 600 BTC buy order in at 2 mBTC (300k XMR). Whale alert!

Not that the other way is good either - fake bid walls and pumps don't help the currency either and only further obscure price discovery.

But I'm over it - I played some more agar.io last night and realized that a big bubble (whale) can't help doing big bubble things. They got that way by not getting eaten as a tiny bubble, eventually making their way to a medium sized bubble, and once they succeeded they found themselves as a whale bubble.

They can't help the game is fundamentally different for them due to their size.

I guess I just hope eventually we have enough competing interests in XMR that regardless of the number of whales the price action will remain organic.

TrueCryptonaire

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Quote from: Quicken on March 18, 2016, 09:53:35 AM

Quote from: americanpegasus on March 17, 2016, 12:11:08 PM

I just really hate this XMR bully whale. I watch as he/she/it ruthlessly works the stack for profit, using their hundreds of thousands of Monero to (try to) force holders to capitulate their positions, all the while scraping the asks and picking up cheaper ones - before releasing their price suppression walls just long enough to bully down any new exuberance.

You say consolidation is good, but what is not good is when a community can't even discern something's true price because it constantly gets forcefully manipulated. I just long for the day when one of the Bitcoin whales decides to make a grand entry into Monero and soaks up every single XMR being used for price suppression for good.

Until then the only answer is for HODL'ers not to give these tactics a single inch. Buy every spot Monero you can afford, attack fake ask walls when you see them, and never try to flip out of a position to get a lower price. If we as a community show these asses that these tactics aren't profitable, they'll stop.

There's a 600 BTC buy order in at 2 mBTC (300k XMR). Whale alert!

Despite the bullish wall is so low it still is something worth seeing in XMR. Cool that there are demand for Moneros.

Quicken

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Quote from: americanpegasus on March 17, 2016, 12:11:08 PM

I just really hate this XMR bully whale. I watch as he/she/it ruthlessly works the stack for profit, using their hundreds of thousands of Monero to (try to) force holders to capitulate their positions, all the while scraping the asks and picking up cheaper ones - before releasing their price suppression walls just long enough to bully down any new exuberance.

You say consolidation is good, but what is not good is when a community can't even discern something's true price because it constantly gets forcefully manipulated. I just long for the day when one of the Bitcoin whales decides to make a grand entry into Monero and soaks up every single XMR being used for price suppression for good.

Until then the only answer is for HODL'ers not to give these tactics a single inch. Buy every spot Monero you can afford, attack fake ask walls when you see them, and never try to flip out of a position to get a lower price. If we as a community show these asses that these tactics aren't profitable, they'll stop.

There's a 600 BTC buy order in at 2 mBTC (300k XMR). Whale alert!

Edit - clearly spotted by others earlier. ht TheKoziTwo. Bigger now though...

Dotto

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No maps for these territories

Quote from: antw081 on March 18, 2016, 07:37:13 AM

Quote from: vuduchyld on March 18, 2016, 07:08:19 AM

I am still freaked out by the total volume in alts. Does it not seem fishy to anybody else?

Yeah, I don't understand how over 560,000 XMR have been traded in the last 24hr on Polo and yet the total sell order book is only around 310,000 XMR and the price has not moved at all. Huh

Well, It has moved a lot, but now is the same... however my amount of moneros now is like 15% bigger Grin

meme magic

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Quote from: dnaleor on March 18, 2016, 09:39:15 AM

Quote from: Dotto on March 18, 2016, 09:33:20 AM

Groteske buy wall at .002

could be used also to keep up the bids while Wallzilla dumps at market

yup.

it can also be used to keep confidence high while said dumps lower the price gracefully, so that buying can resume.

dnaleor

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Want privacy? Use Monero!

Quote from: Dotto on March 18, 2016, 09:33:20 AM

Groteske buy wall at .002

could be used also to keep up the bids while Wallzilla dumps at market

Dotto

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No maps for these territories

Groteske buy wall at .002

TheKoziTwo

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Looks like wallzilla is back. 250k XMR wall @ 0.002 Grin

Doubt it will last long, but the wall is real... if anyone got 420k to sell real quick

generalizethis

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Facts are more efficient than fud

Quote from: antw081 on March 18, 2016, 07:37:13 AM

Quote from: vuduchyld on March 18, 2016, 07:08:19 AM

I am still freaked out by the total volume in alts. Does it not seem fishy to anybody else?

Yeah, I don't understand how over 560,000 XMR have been traded in the last 24hr on Polo and yet the total sell order book is only around 310,000 XMR and the price has not moved at all. Huh

Bots, bots, and more bots....

antw081

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Quote from: vuduchyld on March 18, 2016, 07:08:19 AM

I am still freaked out by the total volume in alts. Does it not seem fishy to anybody else?

Yeah, I don't understand how over 560,000 XMR have been traded in the last 24hr on Polo and yet the total sell order book is only around 310,000 XMR and the price has not moved at all. Huh

vuduchyld

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GREAT answers, bitjedi and TheKoziTwo.

Thank you for that.

TheKoziTwo

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Quote from: vuduchyld on March 18, 2016, 07:08:19 AM

I am still freaked out by the total volume in alts. Does it not seem fishy to anybody else?

I'm willing to accept the premise that it seems to be flowing from ETH as that dump continues. But if you look back to January 1st, the total market cap in alts has gone from less than a billion to more than $1.5 billion. That's a 30%+ jump and it's more than $500 million in new money.

Where is THAT coming from...and WHY? That's a pretty big reallocation of capital, but from where? Doesn't seem like it could be hedge funds and other financial players because Central banks are in stimulus mode.

A lot of that is out of thin air. Just because marketcap goes up 500 million does not mean 500 million was invested. The value was created from a much smaller amount of money being used to push prices up. In fact a lot of altcoins are premined so hard that the founders can push the marketcap to millions of dollars with only a few thousand dollars worth of investment. It's pretty artificial.

That being said, the volume on poloniex has been pretty amazing lately. The volume is real, but a part of it surely is due to leveraged trading and that wasn't widely used in the altcoin 1.0 era. I think it's reasonable to assume that the big FUD storm regarding bitcoin blocksize had made more bitcoiners interested in diversifying into altcoins, I've notice a trend of high profile bitcoin figures voicing support for various altcoins or jumping on the BTC FUD train. There's a lot of wealth in bitcoin, and only a small fraction of the bitcoin community is needed to create the volume we see on poloniex.

bitjedi

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Quote from: vuduchyld on March 18, 2016, 07:08:19 AM

I am still freaked out by the total volume in alts. Does it not seem fishy to anybody else?

I'm willing to accept the premise that it seems to be flowing from ETH as that dump continues. But if you look back to January 1st, the total market cap in alts has gone from less than a billion to more than $1.5 billion. That's a 30%+ jump and it's more than $500 million in new money.

Where is THAT coming from...and WHY? That's a pretty big reallocation of capital, but from where? Doesn't seem like it could be hedge funds and other financial players because Central banks are in stimulus mode.

margin trading leverage. also, marketcap based on mark to market does not equal total cash invested, but rather its a weak positive correlation.

e. g. i create a premined alt with 1bn coins. i list it on an exchange but only put 1 share for sale and buy it myself at $1. now $1bn mkt cap. that's why pump grps like premined coins.

vuduchyld

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I am still freaked out by the total volume in alts. Does it not seem fishy to anybody else?

I'm willing to accept the premise that it seems to be flowing from ETH as that dump continues. But if you look back to January 1st, the total market cap in alts has gone from less than a billion to more than $1.5 billion. That's a 30%+ jump and it's more than $500 million in new money.

Where is THAT coming from...and WHY? That's a pretty big reallocation of capital, but from where? Doesn't seem like it could be hedge funds and other financial players because Central banks are in stimulus mode.

TheKoziTwo

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Quote from: explorer on March 18, 2016, 05:30:26 AM

Quote from: TheKoziTwo on March 18, 2016, 05:25:11 AM

Quote from: novag on March 18, 2016, 05:11:47 AM

Where can I exchange XMR on USD?

You can exchange to USD on Poloniex. They have Tether USD which is backed 1-1 with USD.

how/where do you get rid of the tether?

Bitfinex let's you withdraw tether USD if you are verified. Not sure which other exchanges supports it atm. (If you deposit Tether USD to the site it ends up in your USD balance and works exactly like any other USD deposit)

explorer

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