I bought my first bitcoin in 2011 and didn't in my wildest dreams imagine that we would have come this far in only 5 years. It's been an enormous success. The number of vendors accepting it can't be counted. I use it everyday and love it.
But I guess it's dying now. That's what all the smart people are saying. Bitcoin is gonna be replaced by something better. It's different this time. Sure, Litecoin had faster blocks and more coins. Ripple was the future, everybody knew that. Why would we use bitcoin when we had Counterparty? Mastercoin? NXT? Heck even auroracoin had a marketcap 20% that of bitcoin at one point. Actually forget all that, now it's ETH that will kill bitcoin. This smart 19 yo wonderkid finally nailed it, now bitcoin is really dying for realz. Changing the entire infrastructure and vendors from bitcoin over to ETH will be done in exactly two weeks. That it happened so fast is pretty amazing. All that had to happen was for the price of ETH to go up and bitcoin died. From revolutionary to just another shitcoin in a couple of months.
I wonder if people will remember ETH and XMR when they have been replaced in 5 years? I doubt it.
Topic: [XMR] Monero Speculation - page 1478. (Read 3313576 times)
You guys seeing the ETH pump these few days? It's crazy! I hope the people who bought Ethereum cashout their profits or else it's going to be a hard landing.
So in a matter of 45 minutes there is wild 35% increase and decrease of the price.
Can someone who trades explain what the benefit of such pump during the simultaneous dumping is? If the buyer wants to accumulate or defend a certain price level, why don't just buy anything below 0.0027 during the dumps? Why drive the price up all the way to 0.0032, what is the benefit?
Margin call the shorter.Can someone who trades explain what the benefit of such pump during the simultaneous dumping is? If the buyer wants to accumulate or defend a certain price level, why don't just buy anything below 0.0027 during the dumps? Why drive the price up all the way to 0.0032, what is the benefit?
I could not get my head around it. Thanks.
So basically the buyer keeps buying the price up till the shorter gets margin called -> price spikes even more. And to prevent that the shorter has been dumping into the buyer. Correct?
It started to get eaten and when it was 30k (after it moved price a couple of times) a same size bid appeared close to it.
The ask was removed and immediately dumped to the bid.
Then probably the bullwhale got pissed off and started to push aggressively higher - some bids/walls that appeared may were in fact stoplosses/margin calls from other traders. Fact is price got at around 32k and then a big dump happened probably to stop the hunt for stops/margin calls.
I don't remember if it was in the 1st or 2n dump but a big 70k ask appeared for seconds, then removed and then got dumped again.
Point is that trading/investing has not, as most people think, to do about an asset but more about as a means to 'steal' money from others.
The assets are just vehicles for market makers/ whales.
They give shit about fundamentals.
ZERO SUM GAME YAYYEAHHHHHH
You guys talking about XMR overtaking BTC makes me think this price is a very good sell.
I think u mean buy not sell these prices are so cheap
But I don't see any good reason for bitcoin to go up.
I want stealthy, underground, store of value for the elite.
Paper wallet only.
Paper wallet only.
I don't think you can bootstrap to adequate market cap and liquidity to have the kind of low downside volatility required in such a currency market, unless you first have a grass-roots transactional economy (preferrably at low velocity).
I would be very pleased to be proven wrong, however.
You guys talking about XMR overtaking BTC makes me think this price is a very good sell.
I want stealthy, underground, store of value for the elite.
Paper wallet only.
Paper wallet only.
I don't think you can bootstrap to adequate market cap and liquidity to have the kind of low downside volatility required in such a currency market, unless you first have a grass-roots transactional economy (preferrably at low velocity).
I would be very pleased to be proven wrong, however.
If I were to lever in crypto, I would do it by borrowing fiat offline. Rates are nigh zero, and you won't get stopped out, except by your own fear or greed.
Anyhow, there is plenty of short interest in XMR yet, if I am not mistaken, which is nicely bullish. Active traders should definitely keep some largish tail bets on both sides, just in case of a repeat of this morning's battle, because we haven't seen the end of this drama. It might be anticlimactic in the end, but it is still on-going.
Anyhow, there is plenty of short interest in XMR yet, if I am not mistaken, which is nicely bullish. Active traders should definitely keep some largish tail bets on both sides, just in case of a repeat of this morning's battle, because we haven't seen the end of this drama. It might be anticlimactic in the end, but it is still on-going.
Funny thing is that someone might say how is it even possible to replace BTC without a GUI wallet when there are so many projects even better than BTC (second generation coins like ETH, MAID, NXT etc).
Well, the more I think about it the more I am convinced that it is exactly for this reason that XMR is a very serious canditate, even more than them.
Maybe we should postpone the wallet as much as possible. I don't want every god damn nerd in Silicon Valley trying to make applications and shit like this!
I want stealthy, underground, store of value for the elite.
Paper wallet only.
Well, the more I think about it the more I am convinced that it is exactly for this reason that XMR is a very serious canditate, even more than them.
Maybe we should postpone the wallet as much as possible. I don't want every god damn nerd in Silicon Valley trying to make applications and shit like this!
I want stealthy, underground, store of value for the elite.
Paper wallet only.
I have a theory that the market is trying to find if a serious challenger to Bitcoin's 1st place exists.
It tried this in the past with Ripple and then ETH. Ripple failed at 700m or close to 1bn market cap, can't remember correctly.
Ethereum seems to have failed to, around 950m usd.
Bitcoin got serious after it broke that threshold.
IMO if a coin surpasses this barrier for good (eg 1.2bn) it will replace Bitcoin sooner than most think - maybe in a week or month at most.
I have a feeling that Monero is destined to make the same attempt too.
So I see 1bn market cap as the ultimate target & resistance.
I would sell at 900-950m and wait to see what happens.
Could be wrong of course - this is my gut speaking.
It tried this in the past with Ripple and then ETH. Ripple failed at 700m or close to 1bn market cap, can't remember correctly.
Ethereum seems to have failed to, around 950m usd.
Bitcoin got serious after it broke that threshold.
IMO if a coin surpasses this barrier for good (eg 1.2bn) it will replace Bitcoin sooner than most think - maybe in a week or month at most.
I have a feeling that Monero is destined to make the same attempt too.
So I see 1bn market cap as the ultimate target & resistance.
I would sell at 900-950m and wait to see what happens.
Could be wrong of course - this is my gut speaking.
If someone wants to have up to date USDXMR charts, you can now check bit.ly/xmrcharts ! 
Data: poloniex for XMRBTC and bitcoinaverage for BTCUSD
Data: poloniex for XMRBTC and bitcoinaverage for BTCUSD
Now if we can just get back to the opening days of Monero and the price on 6/21/14 of $5.07
That's a nice starting point to end up at.
^That makes so much sense.
If someone wants to have up to date USDXMR charts, you can now check bit.ly/xmrcharts !
Data: poloniex for XMRBTC and bitcoinaverage for BTCUSD
Data: poloniex for XMRBTC and bitcoinaverage for BTCUSD
Now if we can just get back to the opening days of Monero and the price on 6/21/14 of $5.07
If someone wants to have up to date USDXMR charts, you can now check bit.ly/xmrcharts !
Data: poloniex for XMRBTC and bitcoinaverage for BTCUSD
Wow extremely useful thank you!Data: poloniex for XMRBTC and bitcoinaverage for BTCUSD
I should have some spreadsheet somewhere with the early (pre poloniex) data... If I find it, I'll add that as well.
I was listening to a TEDtalks on spreading ideas and the presenter mentioned two things that reminded me of the recent GUI discussion: Otaku and remarkable. I believe Monero's core community is Otaku in regards with privacy and the GUI is the remarkable that can get people to pull off the road and look at the purple cow (min 6:30).
https://www.youtube.com/watch?v=xBIVlM435Zg
https://en.wikipedia.org/wiki/Otaku (min 10:30)
https://www.youtube.com/watch?v=xBIVlM435Zg
https://en.wikipedia.org/wiki/Otaku (min 10:30)
If someone wants to have up to date USDXMR charts, you can now check bit.ly/xmrcharts !
Data: poloniex for XMRBTC and bitcoinaverage for BTCUSD
Wow extremely useful thank you! Data: poloniex for XMRBTC and bitcoinaverage for BTCUSD
If someone wants to have up to date USDXMR charts, you can now check bit.ly/xmrcharts !
Data: poloniex for XMRBTC and bitcoinaverage for BTCUSD
Data: poloniex for XMRBTC and bitcoinaverage for BTCUSD
So in a matter of 45 minutes there is wild 35% increase and decrease of the price.
Can someone who trades explain what the benefit of such pump during the simultaneous dumping is? If the buyer wants to accumulate or defend a certain price level, why don't just buy anything below 0.0027 during the dumps? Why drive the price up all the way to 0.0032, what is the benefit?
Margin call the shorter.Can someone who trades explain what the benefit of such pump during the simultaneous dumping is? If the buyer wants to accumulate or defend a certain price level, why don't just buy anything below 0.0027 during the dumps? Why drive the price up all the way to 0.0032, what is the benefit?
I could not get my head around it. Thanks.
So basically the buyer keeps buying the price up till the shorter gets margin called -> price spikes even more. And to prevent that the shorter has been dumping into the buyer. Correct?
It started to get eaten and when it was 30k (after it moved price a couple of times) a same size bid appeared close to it.
The ask was removed and immediately dumped to the bid.
Then probably the bullwhale got pissed off and started to push aggressively higher - some bids/walls that appeared may were in fact stoplosses/margin calls from other traders. Fact is price got at around 32k and then a big dump happened probably to stop the hunt for stops/margin calls.
I don't remember if it was in the 1st or 2n dump but a big 70k ask appeared for seconds, then removed and then got dumped again.
Point is that trading/investing has not, as most people think, to do about an asset but more about as a means to 'steal' money from others.
The assets are just vehicles for market makers/ whales.
They give shit about fundamentals.
I agree with you when you think about hunting for leveraged positions. It is basically hunting your fellows who are in a more vulnerable position (leveraged). At some point obviously there will be a repayment of such deed mastered by the Great Architect of the Universe.
On the other hand, if you are trading with any commodity speculating simple supple vs. demand it is actually pretty Biblical way of making money. In the Torah Yosef had an information of upcoming famine in days of great prosperity and he stored wheat for coming not-so-good days and was able to buy all the real estates in Egypt, a lot of precious metals all over etc.
I have seen this coin going around for a while. If I'm not mistaken it is a coin from Morocco ? If anyone want to sell some XMR at 5% below market please let me know , thanks.
You made my evening.
I have seen this coin going around for a while. If I'm not mistaken it is a coin from Morocco ? If anyone want to sell some XMR at 5% below market please let me know , thanks.
Actually it's from planet Earth although other planets will soon be included in the network.
I don't normally sell but at 500% above market I might be tempted.
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