Topic: [XMR] Monero Speculation - page 1479. (Read 3313576 times)

Traders win or lose money from/to each other.  They don't 'steal' it anymore than a champion poker player does.

It's all a means to the ends of the market's invisible hand, so ethically there's no problem.

The idea of a pissed off, dumped-upon bullwhale hunting for stops and margin calls is hilarious and probably accurate.   

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.

In a nutshell:-

Someone stormed into the operating theater, grabbed a pair of defibrillators and then shouted - "STAND BACK!" - before unleashing a double dose of 80000 volts to an otherwise sleeping patient. Following this he probably then turned to the startled chief surgeon and quietly said something along the lines of - "that should do it" - before walking out with a bottle of whiskey in his hand.

The net result is that the order-book has been rebooted.

0.003 is the new 0.001.

This is the new XMR.

Actually it is hard to estimate what really happened - it all begun with a 40k ask wall.
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 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, potentially causing other shorters to get margin called as well (domino effect). And to prevent that the shorter has been dumping into the buyer. Correct?

No way to know for sure what % of the spike are cause and what % is effect, but a spike can potentially cause some shorts to be liquidated, which in turn causes more short squeezing as they are forced to cover.

Due to interest being charged on borrowed coins, more XMR must ultimately be repurchased than were sold short.  So you can push the price down temporarily but eventually it only comes back stronger than before.

Margin call the shorter.

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?

Thats why I don't trade. I just buy.

I speculate bananas.

Actually, I speculate that Monero has nowhere to go but up from here. I've (begrudgingly) started mining ethereum because its more profitable on my GPUs so that I can buy monero (i know, i know. flog me - but my CPUs are still mining monero). Everytime I mine new ethereum... im like.. maybe it will go up.... but I don't see or understand the fundamentals of that coin... And then I sell it on the market. And then I go "well maybe I should hold on to bitcoin because it will go up." But I don't see any good reason for bitcoin to go up. There are reasons, but I don't view them as good or long term. Primary reason is network effect. Besides that the tides in bitcoin don't tickle my fancy. And finally I'm like "i should wait to buy monero because it always corrects", and then I get impatient and just market buy. I keep trying to convince myself to hold off on buying so I can be a mini-whale of sorts after a month of mining... but the GUI is coming. RingCT is coming. Emissions keep dropping. The only thing in Monero's future that could lead to me getting cheaper coins in the future is if cryptocurrency as a whole fails or if the market makers decide that it needs to be cheap again.

So keep those sell walls up. I will nibble.

And I really speculate that eventually these whales will become less and less influential. It'd be great to see some aggregate data on market dumps. Presumable, these dumps occur because there's enough asks to cover some whale's exit move. One can also assume that these asks are distributed over many individuals. I have no idea how many people are on the poloniex xmr market.

Maid?  Why?

If that wasn't a scam we'd see the cypherpunks (re)tweeting about it.  You think they'd just ignore Maid if it was a genuinely useful innovation with actual potential?

Maid is pre-Bitcoin crypto with trendy, shiny bits of BLOCKCHAIN^® bolted on as a marketing (and more importantly, ICO funding) mechanism.

You're better off with blue-chip altcoins like LTC and XPM that have proven years-long histories of real-world functionality.

If I was on a margin position now (either long or short) I would be very worried...

This volatility can be very dangerous for leveraged trading.

Damn it, I missed all the fun.

I'm thinking .0023 again and then up and away.

Sell side on polo has gone from 270k XMR to 350k XMR over the past 2 hours or so.

Let's get us some Popcorn and enjoy the ride 

Have been busy over the last 12 hours buying.  Price is really pushed up in the past few hours.  Come on XMR!   Much better buying price last night but I'll take them at the current rate too.  Oh tapped out of buying funds.  Well a good day of micro whaling. 

HitBTC has gotten so much better in the last few months.  Much faster too.  I wonder if they upped their bandwidth or migrated to a faster server.

I think monero is going to surprise everyone and suddenly do a 10x climb in price in the next few months, probably during a bitcoin halving pump..

What an entertaining, candlelit afternoon. Good time to HODL still if you ask me.


Best of luck and welcome to the Monero party. 


5.555 mBTC? Low for my taste. No sales below 6 mBTC.

That 5555 ask looks suspiciously...defensive.

Completely offtopic, but if this superconductor really works and can be manufactured for a reasonable price, it would revolutionize whole industries. Maybe he would sell the patent for a handful Moneroj?  

BTW, did'nt we say that the next leg up would take a couple of days? Nice to see the bulls alive though!

Stay Tuned for previews of this weeks episode of,

Whale Wars

Special edition: Monero.