Topic: [XMR] Monero Speculation - page 1680. (Read 3313576 times)

Get ready for another china ban. :p

BTC is undeniably the fastest and most trust-free way to get your money out of China and out of Chinese currency. I have to assume that some number of rich Chinese people will use it. The spread in prices between Chinese and non-Chinese exchanges may be proof that people are willing to do it at a loss.

Yeah I agree. I hope bitcoin gets more attention. Basically it is the trailblazer for crypto and cryptocoins to come (monero being one of them existing today already).

This bitcoin rally looks like it will be a march up....and not a bubble....yet.

XMR will get hammered at first...but it will have its day.

Any smart investor buys low I don't see your point.



Well lets check back in a month and see who's right.

Monero has nothing to lose from a BTC rally, it will put more eyes on crypto where it shines. But if all we see is just a pump on BTC and the old altcoin (LTC, PPC, NMC, etc) then its just pumping again to be followed by dumps (just ppl after making more money) and not a genuine rally signaling widespread crypto adoption. tl;dr nothing to be excited on the long term if an e-cash like Monero does not follow the BTC rise.

Isn't bubbling by definition only possible if money is going to buy?

This is mostly the case why those candidates have been floating around all time low lately; sure, they have their fanclub, but I for one, could never go back to LTC or DOGE to name two. Instead I'm tending to follow closely XMR, ETH and a couple of new rather interesting efforts that are not yet released. I'm confident that XMR will be among the top-notch players in crypto land.

FWIW: In case BTC rises to the moon, even if you HODL DOGE or Maxcoin will do you good, believe me...

I would argue that Bitcoin is not bubbling as you put it.  It feels like a slow and steady uptrend based on recent developments as well as Chinese economic situation.

BTER is NOT OK. Trading there is rolling the dice.

I'm of the opinion the price is not recovering because new money is not going to buy BTC while it's bubbling. That is the reason I have been waiting.

There is one caveat though, back in 2013 PPC/LTC/NMC hardly had any significant competition. Nowadays there are so many (innovative) altcoins out there, that I am wondering if history will repeat itself. The biggest advantages the aformentioned three altcoins have is liquidity and accessibility. However, de facto they don't have any significant innovation over Bitcoin. Sure they have some merit, but will it be sufficient to induce a rally? Questionable in my opinion.

This.

If history repeats, it may be worthwhile to pick up some LTC and PPC if they bleed a bit more while BTC continues to climb.

That's actually normal. Look at LTC:BTC in October 2013. Bitcoin rose fast and LTC:BTC fell. But when the real rally started, people began to see BTC as "expensive" and they wanted to buy altcoins. For Chinese, that meant LTC and the BTC-E classics (NMC and PPC).

Although I don't believe in LTC at all (in terms of innovation or usefulness), I find myself in the position where I'm oddly bullish on it. The reason for that is that I think other people will be bullish on it.  During bitcoin rallies, other people tend to think that bitcoin is "expensive" because they can't afford to buy one BTC (which is, of course, nonsensical). They also think that maybe LTC or some other coin might go as high as BTC. They plug those numbers into a calculator and think of how rich they'll become. (LOL)

In addition, LTC's brand is very strong in China. It's on all the major Chinese exchanges. So I think LTC will be the logical altcoin of choice for new Chinese buyers.

But it's hard to say what's happening now.  Is this the beginning of a huge rally that actually attracts new buyers or is it just another failed push to 315? Either way, altcoins are becoming very cheap compared to BTC. LTC:XBT Doge:XBT, XMR:XBT, BTS:XBT, etc. all approaching all-time lows when accounting for halvings and reduced emission.

Even if bitcoin falls 20%, these battered altcoins will likely rise 20% against BTC (regaining what they've lost in the past month)..so you wouldn't lose USD/EUR. But if bitcoin goes on a big rally, the altcoins might continue to go down for another couple of weeks but then perhaps double or quadruple against bitcoin. So buying altcoins now looks very good.

When the next general pump comes, Bitcoin will rise fast. Eth and XMR will replace lite coin to be the second choice for whales as these two coins have unique features. One is a coin as well as a platform, the other is anonymous.

I would expect that too but judging by price they seem to be all about BTC right now.

Maybe you got this right. LTC always was the ''vehicle'' of choice in the 90% of BTC pumps. I also expect ETH & XMR to go well too though, (I *wish* would've been the proper word) each for its own reasons (ie: XMR anonymity features would've come handy in China right now). I really believe we are en route for a great week anyway. Buckle up!

When the time comes, Chinese will likely pile into LTC again. It has the cultural capital there and the liquidity. BitShares used to have heavy Chinese support on BTC38 but it looks like that dried up.

China is definitely the main stage now gentlemen. Monday's coming hot and it's gonna be a hell of a week for crypto. Any other exchange we can address maybe?

Yeah they do and I think they even have a XMR/CNY trading pair.

We've tried mailing them before, you can read the response(s) in the following reddit thread:

https://www.reddit.com/r/Monero/comments/3d33a9/btc38/

Bter is ok but the hacking incident killed the volume there.

BTC38 has CNY deposits though (not sure about bter).

ALTs need direct ALT/CNY market.



http://www.bloomberg.com/news/articles/2015-10-23/imf-said-to-give-china-strong-signs-of-reserve-currency-blessing

CNY in SDR -> CNY to USD peg END -> CNY down