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Topic: [XMR] Monero Speculation - page 1771. (Read 3313576 times)

member
Activity: 98
Merit: 10
September 04, 2015, 02:05:00 PM
Those walls look ridiculous  Cheesy

*image cut*

Smells like accumulation to me.

dont get too excited.

Ive seen 30K at 0.002 two times in the past week. Both times they've gotten sold down to 0.002 taking out the walls pretty much completely. Maybe "this time its different" though...sure hope so!

Not excited, just entertained.
You must keep in mind, if the walls are being sold into instead of pulled completely, there is a buyer absorbing those sells at the price level.
It wouldn't surprise me if we did indeed drop back below 0.002, but the price action lately has been somewhat intriguing.
legendary
Activity: 1218
Merit: 1000
September 04, 2015, 12:33:20 PM
Those walls look ridiculous  Cheesy



Smells like accumulation to me.

dont get too excited.

Ive seen 30K at 0.002 two times in the past week. Both times they've gotten sold down to 0.002 taking out the walls pretty much completely. Maybe "this time its different" though...sure hope so!
member
Activity: 98
Merit: 10
September 04, 2015, 11:43:32 AM
Those walls look ridiculous  Cheesy



Smells like accumulation to me.
legendary
Activity: 1512
Merit: 1012
Still wild and free
September 04, 2015, 10:12:04 AM
6. Shapeshift had to fill up.
You do have reasonably good intuitions Smiley
sr. member
Activity: 291
Merit: 250
September 04, 2015, 09:44:29 AM
A lot of huge buy orders, 5k xmr sold in on shot, a lot more big trades than usual (well, my usual), ... what happens? What did I miss?


Depends how long you've been out of the game. Here are some possible explanations

1. On github, the release branch is now treated as semi-stable because the development branch is back. This is indicative of the release being sooner than later.

2. On the development branch is the 0MQ implementation. (pls, use google). 0MQ is one of the big ducks to have in the row for more awesomeness down the line (namely, i2p integration - i think. I'm just regurgitating what I read elsewhere).

3. The cryptography wizards did something where the core cryptography in Monero is now aligned / references the true source of the cryptography, as opposed to cryptonote's rendition (I think I got this right. https://github.com/monero-project/bitmonero/commit/0a4bc84b2f681dfd89b501648f65a951d876e2d8 )

4. Moneromoo continues to do awesomeness

And possibly, the most rationale explanations:

5. Someone got tired of waiting for their order to be filled.

6. Shapeshift had to fill up.

Thanks for the answers.
I already knew of 0MQ for some days, that's not new big news for me. (For me it was new about one week ago).
The release branch is stable for some time too - oh, I so wish an official release... (and please don't tell me to build, it's not the same, at least not for markets)

Point 3 gave me some homework and the rest of the points made me smile.
Thanks Smiley
legendary
Activity: 1260
Merit: 1008
September 04, 2015, 09:36:55 AM
A lot of huge buy orders, 5k xmr sold in on shot, a lot more big trades than usual (well, my usual), ... what happens? What did I miss?


Depends how long you've been out of the game. Here are some possible explanations

1. On github, the release branch is now treated as semi-stable because the development branch is back. This is indicative of the release being sooner than later.

2. On the development branch is the 0MQ implementation. (pls, use google). 0MQ is one of the big ducks to have in the row for more awesomeness down the line (namely, i2p integration - i think. I'm just regurgitating what I read elsewhere).

3. The cryptography wizards did something where the core cryptography in Monero is now aligned / references the true source of the cryptography, as opposed to cryptonote's rendition (I think I got this right. https://github.com/monero-project/bitmonero/commit/0a4bc84b2f681dfd89b501648f65a951d876e2d8 )

4. Moneromoo continues to do awesomeness

And possibly, the most rationale explanations:

5. Someone got tired of waiting for their order to be filled.

6. Shapeshift had to fill up.
sr. member
Activity: 291
Merit: 250
September 04, 2015, 09:10:36 AM
A lot of huge buy orders, 5k xmr sold in on shot, a lot more big trades than usual (well, my usual), ... what happens? What did I miss?
legendary
Activity: 1105
Merit: 1000
legendary
Activity: 1722
Merit: 1217
September 04, 2015, 08:31:48 AM
does anyone know why it was delisted at bitfinex?
legendary
Activity: 1260
Merit: 1008
September 04, 2015, 08:31:06 AM
Quote

Monero needs the whole ecosystem to become succesful, and there will be point to create such if the market capitalzation is somewhat remarkable. I am sure there will be entrepreneurs willing to do it if they see it worthwhile taking the risk.

What level of market captialization would be good for that?

The minimum you we probably start to see startups investing into Monero ecosystem is 100 millions of usd market capitalization.
The market capitalization of bitcoin is 3-4 billion (depending on the mood of bitcoin holders) usd but they started to build it when bitcoin was trading in hunreds of millions.

IMO, what is really needed is a reason to use any cryptocurrency. Due to monero's true cash-like properties, I think a development that would really help things take off is person to person abilities with smartphones, which is currently only available ( i think ) with tools that use mymonero.com as a backend (which is a fine stop gap measure). And none of them have a QR reader built in, which makes them awkward to use. With person to person abilities, many of the use cases presented that have an actual need for cash-like remittances (as detailed in fluffypony's presentation) actually become feasible.

But yeah - as I see it, cryptocurrencies currently have 2 real-world functions - 1. an asset class that is free from government meddling and 2. a remittance platform for the unbanked. As stated elsewhere, the currently banked have limited reason to use an alternative means of remittance / currency, and I will posit here that the unbanked have limited limited means to get into the ecosystem (e.g., a bank account they can use to buy bitcoins to buy monero).
legendary
Activity: 2282
Merit: 1050
Monero Core Team
September 04, 2015, 07:46:01 AM
Darkcoin has been removed from Bitcoinwisdom Cheesy

woah why for?

Dash was delisted at Bitfinex, which was the only feed being shown on bitcoinwisdom. Why bitcoinwisdow doesn't show the cryptsy feed for it when it does show other cryptsy feeds I don't know.

It is still there but hidden https://bitcoinwisdom.com/markets/cryptsy/drkbtc
legendary
Activity: 1092
Merit: 1000
September 04, 2015, 07:16:47 AM
Quote

Monero needs the whole ecosystem to become succesful, and there will be point to create such if the market capitalzation is somewhat remarkable. I am sure there will be entrepreneurs willing to do it if they see it worthwhile taking the risk.

What level of market captialization would be good for that?

The minimum you we probably start to see startups investing into Monero ecosystem is 100 millions of usd market capitalization.
The market capitalization of bitcoin is 3-4 billion (depending on the mood of bitcoin holders) usd but they started to build it when bitcoin was trading in hunreds of millions.
sr. member
Activity: 392
Merit: 250
September 04, 2015, 07:05:33 AM
Quote

Monero needs the whole ecosystem to become succesful, and there will be point to create such if the market capitalzation is somewhat remarkable. I am sure there will be entrepreneurs willing to do it if they see it worthwhile taking the risk.

What level of market captialization would be good for that?
legendary
Activity: 1092
Merit: 1000
September 04, 2015, 06:16:17 AM
I don't know what you are awaiting to happen with Monero... It already fulfills my demands for it: it is a private and uncensorable store of value, and it can be exchanged either privately or in Poloniex with rather small difficulty to other vehicles.

It IS working. With Crypto Kingdom, it will gain more transactions, but that does not mean that the capability wasn't there already.

On my behalf, I am as a speculator expecting the purchasing power to increase with Monero.
Anonymous transactions can be made also with euros or dollars if you are willing to hold and use cash.
For storing value it is required the price is stable or rather rise little by little over time (not too much to encourage excessive dumpings but also not too little to discourage the hoarding).
Against bitcoin Monero has been stable, so the bigger problem here is the price of bitcoin.
As it is obvious for many, bitcoin is not going to shoot to 1000 usd probably never again, Monero needs to be stabilized or prefertably rising against dollars or euros to attract new people holding it (the holders create the value for any coin).

Crypto Kingdom is probably the only real application one can use Moneros and the reality is the majority of people in the world will not use it (the same thing: Angry Birds are not used by the majority of World's population despite the fact that the majority of world's population probably has heared or enountered it somehow). That is, a game can be a success even though the minority of 7 billion people will use it (I call it semi-success if 100 000 Monero-paying people use it and a Jackpot if 1 000 000 or more users are achieved - still both figures are only a fraction of the population).

Monero needs the whole ecosystem to become succesful, and there will be point to create such if the market capitalzation is somewhat remarkable. I am sure there will be entrepreneurs willing to do it if they see it worthwhile taking the risk.
legendary
Activity: 2968
Merit: 1198
September 03, 2015, 11:23:46 PM
Darkcoin has been removed from Bitcoinwisdom Cheesy

woah why for?

Dash was delisted at Bitfinex, which was the only feed being shown on bitcoinwisdom. Why bitcoinwisdow doesn't show the cryptsy feed for it when it does show other cryptsy feeds I don't know.
legendary
Activity: 1722
Merit: 1217
September 03, 2015, 10:50:11 PM
Darkcoin has been removed from Bitcoinwisdom Cheesy

woah why for?
legendary
Activity: 1218
Merit: 1000
September 03, 2015, 10:45:22 PM
I think it's pretty safe to say that the wall at 0025 is fake  Cool

Im pretty surprised at the amount of dumping going on at 002...i presume there's a bunch of short selling going on

ps. Darkcoin has been removed from Bitcoinwisdom Cheesy
legendary
Activity: 2282
Merit: 1050
Monero Core Team
September 03, 2015, 12:59:37 PM
That almost bears repeating. 
 
Buying Monero on an exchange at the moment is cheaper than mining it (probably several times cheaper).   
 
The opportunity is unprecedented.  ...


It's entirely precedented, as well as expected. In any even remotely efficient mining market, it'll always be cheaper for a small investor to buy the coin on the open market versus mining it. Unless someone already has a bunch of viable hardware laying around (0 capital cost) and/or cheap/free power, the average cost per GH of mining for a small player will be well above the average for all players in the overall mining market, which is about where the market value of the coin should be sitting.

This dynamic can break when dislocations in the market are occurring (rapidly changing underlying demand for the coin, or a tech trigger in the form of massively more efficient mining hardware, etc), but by and large buying the coin will be cheaper.

This has been the case with Bitcoin at least since when I first thought about mining it in 2011 (I didn't have any GPUs lying around) and it's the case with most coins of any liquidity today.



This assumes that the heat generated in the mining process has no or negative value. The economics change drastically when it is -40 (C or F no difference) outside.  Wink
legendary
Activity: 1722
Merit: 1004
September 03, 2015, 12:48:44 PM
That almost bears repeating. 
 
Buying Monero on an exchange at the moment is cheaper than mining it (probably several times cheaper).   
 
The opportunity is unprecedented.  ...


It's entirely precedented, as well as expected. In any even remotely efficient mining market, it'll always be cheaper for a small investor to buy the coin on the open market versus mining it. Unless someone already has a bunch of viable hardware laying around (0 capital cost) and/or cheap/free power, the average cost per GH of mining for a small player will be well above the average for all players in the overall mining market, which is about where the market value of the coin should be sitting.

This dynamic can break when dislocations in the market are occurring (rapidly changing underlying demand for the coin, or a tech trigger in the form of massively more efficient mining hardware, etc), but by and large buying the coin will be cheaper.

This has been the case with Bitcoin at least since when I first thought about mining it in 2011 (I didn't have any GPUs lying around) and it's the case with most coins of any liquidity today.

hero member
Activity: 770
Merit: 504
September 03, 2015, 12:31:35 PM
That almost bears repeating. 
 
Buying Monero on an exchange at the moment is cheaper than mining it (probably several times cheaper).   
 
The opportunity is unprecedented.  A worldwide private currency with this much going on under the hood...  That people can acquire for below mining cost? 
 
There's no such thing as Monero shilling...  Because what you are really doing is letting people know about this thing before it begins to balloon...  Some will listen and others won't, but the important thing is to give as many people a chance as possible.
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