[XMR] Monero Speculation - page 1897.

rangedriver

hero member

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Quote from: TrueCryptonaire on May 20, 2015, 03:10:18 PM

Shorting Monero at Poloniex is now pretty affordable.
It might give some good opportunities if the price bottoms.

On the other hand, borrowing bitcoins to entering into long position is more expensive than opening a short position.
At some point this will trigger a wave of short positions as long as the interest rate gap between Monero and BTC becomes more or less the same.
That's how the free markets work.

Haha - still trying to push the markets down then?

Good luck meeting your somewhat risible 0.0005 target.

americanpegasus

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Quote from: TrueCryptonaire on May 20, 2015, 03:10:18 PM

Shorting Monero at Poloniex is now pretty affordable.
It might give some good opportunities if the price bottoms.

On the other hand, borrowing bitcoins to entering into long position is more expensive than opening a short position.
At some point this will trigger a wave of short positions as long as the interest rate gap between Monero and BTC becomes more or less the same.
That's how the free markets work.

You were spouting the same nonsense into the troll box on Polo, encouraging others to short with you, so that you don't lose your pants.

In truth the mild interest rate difference between margin money won't matter when people realize how foolish it is to short a volatile asset that is likely to increase in price by magnitudes over the coming 12 months.

Even over there you were getting called out and made fun of.

Did you experiment with the new XMR shorting feature, and now you're starting to worry?

You were already warned multiple times, do not short Monero, or your account will eventually be margin called and you will lose everything.

If you're going to be so stubborn after these repeated warnings, go ahead. I don't like to make money by taking it from other traders; I would rather my asset organically increase in value.

But if you are so determined to lose all your money, it might as well be to me.

Sorry for your loss (in advance).

TrueCryptonaire

legendary

Activity: 1092

Merit: 1000

Shorting Monero at Poloniex is now pretty affordable.
It might give some good opportunities if the price bottoms.

On the other hand, borrowing bitcoins to entering into long position is more expensive than opening a short position.
At some point this will trigger a wave of short positions as long as the interest rate gap between Monero and BTC becomes more or less the same.
That's how the free markets work.

DaveyJones

hero member

Activity: 768

Merit: 505

Quote from: americanpegasus on May 20, 2015, 02:53:16 PM

Quote from: cAPSLOCK on May 20, 2015, 02:06:26 PM

Aaaaand the chart just devours another bear. Gulp. We are seeing heavy selling pressure and a resilient chart. Any one else seeing what I am seeing?

Yeah, I like the 220s. Polo frowns on market setting in the troll box, so I might as well do it here.

I think that shorters and nervous nellies think the price will drop so they are building sell walls and hoping they can profit from the temporary weakness. I watched two of these fake walls get annihilated earlier. Someone put up 1000 XMR wall thinking it would force the price down, and GULP, it got ate. So they put up another 1000 XMR sell wall, and GULP, it got ate too.

Even longs are hoping we will see some cheap XMR nearer to the 200 mark.

But I like the 220 floor and I like the strength we are seeing here.

I think we should keep it, and then work upwards, scooping up the dips.

My analysis was suggesting a price of about 320 by June 15th.. Now these latest developments may blunt that, unfortunately, but I think we don't enter new consolidation so soon.

I would not mind cheap prices till my next pay cheque clears Cheesy

americanpegasus

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Quote from: cAPSLOCK on May 20, 2015, 02:06:26 PM

Aaaaand the chart just devours another bear. Gulp. We are seeing heavy selling pressure and a resilient chart. Any one else seeing what I am seeing?

Yeah, I like the 220s. Polo frowns on market setting in the troll box, so I might as well do it here.

I think that shorters and nervous nellies think the price will drop so they are building sell walls and hoping they can profit from the temporary weakness. I watched two of these fake walls get annihilated earlier. Someone put up 1000 XMR wall thinking it would force the price down, and GULP, it got ate. So they put up another 1000 XMR sell wall, and GULP, it got ate too.

Even longs are hoping we will see some cheap XMR nearer to the 200 mark.

But I like the 220 floor and I like the strength we are seeing here.

I think we should keep it, and then work upwards, scooping up the dips.

My analysis was suggesting a price of about 320 by June 15th.. Now these latest developments may blunt that, unfortunately, but I think we don't enter new consolidation so soon.

medusa13

sr. member

Activity: 453

Merit: 500

hello world

Quote from: smooth on May 20, 2015, 02:08:38 PM

I think what he's saying is that Poloniex has been a great supporter of the Monero community. By implementing their policy change with an obnoxious and customer-hostile two-day notices (where people who happen not to be online every day are not forced to give up their information or have their coins stolen) they just told the Monero community go fuck ourselves. Without even so much as an explanation other than "Hey guys, good news, you can trade on margin and pay more commissions now!"

Compliance is perfectly fine, and to be expected. Giving your biggest customer base the finger with a two-day notice is not.

yes, thank you for saying what i could not formulate myself, especially the bold part.
i too have a verified bitstamp account and i am fine with it. however, implementing this kind of identification rules in such an unprofessional way just seems desperate and unpredictable. Monero community is very sensible with this kind of things, so i would have expected them to respect this and act accordingly transparent/fair

G2M

sr. member

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Activity: 616

poppa caps, next time crop it out, instead of scribbling.

Scribbling invites filters Grin

The timing is interesting though, maybe there was some correlation in the sense that once margin trading opened up, that would mean that shorts are available everywhere coins are traded, possibly to prevent arbitration attempts.

cAPSLOCK

legendary

Activity: 3766

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Note the unconventional cAPITALIZATION!

Quote from: smooth on May 20, 2015, 02:08:38 PM

I think what he's saying is that Poloniex has been a great supporter of the Monero community. By implementing their policy change with an obnoxious and customer-hostile two-day notices (where people who happen not to be online every day are not forced to give up their information or have their coins stolen) they just told the Monero community go fuck ourselves. Without even so much as an explanation other than "Hey guys, good news, you can trade on margin and pay more commissions now!"

Compliance is perfectly fine, and to be expected. Giving your biggest customer base the finger with a two-day notice is not.

And I told them that when they contacted me to try to smooth things over.

Fuck you Poloniex. You screwed up here.

You've got a point there. Interestingly I notice Kraken has just started beta margin trading at exactly the same time. Could these be related in some way. Seems like such a coincedence.

thelibertycap

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Quote from: Lloydimiller4 on May 20, 2015, 01:15:46 PM

Polo is a U.S. exchange, they need to comply with U.S. law. It sucks that it happened so quickly, but I'd rather there be an exchange than none at all. I believe decentralized exchanges are coming, and when they do so people will be able to trade freely and anonymously.

From a longer term investment point of view, the sooner they comply and be the biggest xmr exchange that is regulated by U.S. law, the sooner we can expect that kind of market liquidity only bitcoin can dream of, for now.

We are stuck in the short term - and no p2p exchanges in this miserable presence.

Febo

legendary

Activity: 2744

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Quote from: ?? on ??

Wow, down to 150k XMR on the ask side of poloniex.

Probably some people pull their XMR from Poloniex yesterday.

Hueristic

legendary

Activity: 3836

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Doomed to see the future and unable to prevent it

The community exchange needs to reopen in response.

smooth

legendary

Activity: 2968

Merit: 1198

Quote from: Lloydimiller4 on May 20, 2015, 01:15:46 PM

Quote from: medusa13 on May 20, 2015, 01:09:40 PM

still feel dull, took me some times to process the somehow bad news. atm i really dont know how it will play out in the future, some people definitiley left polo. maybe they will return if it stays the only liquid market, but for now i dont think so. even if this has nothing to do directly with xmr at all, yesterday was one of those rare nights i turned my node off after all my transfers finished.

i was very bullish the past few weeks, but now my sentiment somehow turned due to this. i feel cheated by poloniex. not becasue they implemented those rules, but becasue of how fast they did it and how they communicated it. the capital flight out of polo was sure enormous and is not yet finished it seems. people clearly prefer btc to withdrawl. maybe the people joining becasue of margin trading will compensate it, maybe not.

and no, i am not a botnet owner.

I don't know why this impacted your decision to turn off your node?

Polo is a U.S. exchange, they need to comply with U.S. law. It sucks that it happened so quickly, but I'd rather there be an exchange than none at all. I believe decentralized exchanges are coming, and when they do so people will be able to trade freely and anonymously.

Poloniex changing their rules certainly makes our short term direction cloudy, but if you check, there are a lot less sells than buys.

I think what he's saying is that Poloniex has been a great supporter of the Monero community. By implementing their policy change with an obnoxious and customer-hostile two-day notices (where people who happen not to be online every day are not forced to give up their information or have their coins stolen) they just told the Monero community go fuck ourselves. Without even so much as an explanation other than "Hey guys, good news, you can trade on margin and pay more commissions now!"

Compliance is perfectly fine, and to be expected. Giving your biggest customer base the finger with a two-day notice is not.

And I told them that when they contacted me to try to smooth things over.

Fuck you Poloniex. You screwed up here.

cAPSLOCK

legendary

Activity: 3766

Merit: 5146

Note the unconventional cAPITALIZATION!

Aaaaand the chart just devours another bear. Gulp. We are seeing heavy selling pressure and a resilient chart. Any one else seeing what I am seeing?

cAPSLOCK

legendary

Activity: 3766

Merit: 5146

Note the unconventional cAPITALIZATION!

Quote from: medusa13 on May 20, 2015, 01:25:55 PM

Quote from: Lloydimiller4 on May 20, 2015, 01:15:46 PM

I don't know why this impacted your decision to turn off your node?

Polo is a U.S. exchange, they need to comply with U.S. law. It sucks that it happened so quickly, but I'd rather there be an exchange than none at all. I believe decentralized exchanges are coming, and when they do so people will be able to trade freely and anonymously.

Poloniex changing their rules certainly makes our short term direction cloudy, but if you check, there are a lot less sells than buys.

i was just frustrated (i turned the computer completely off Roll Eyes

), the short to mid term future for monero has not been as cloudy as it is right now for a very long time. i dont know if i really belive in decentralized exchanges. Open transactions exists, yet no one really uses it. decentralized exchanges wont fill this gap for now. A quick and dirty unregulated, centralized exchange needs to pop up until then, somehow comparable to how cryptonodexchange did it, just in Tonga, Monaco, whatever Cool

Well here's the thing(s).

1. Poloniex is not Monero and Monero is not Poloniex. All the exchanges doing this are affecting all the assets they trade. It's KYC/AML for Monero, NXT, DASH, ETC... The playing field is still level.

2. There are still ways to trade. XMR.to, Shapeshift, Coinomat. Combine these and other services and you will find a way to retain full anonymity I think.

3. Plus trading on Poloniex does not break the anonymity of Monero in any way! It just changes your relationship to Poloniex.

medusa13

sr. member

Activity: 453

Merit: 500

hello world

Quote from: Lloydimiller4 on May 20, 2015, 01:15:46 PM

I don't know why this impacted your decision to turn off your node?

Polo is a U.S. exchange, they need to comply with U.S. law. It sucks that it happened so quickly, but I'd rather there be an exchange than none at all. I believe decentralized exchanges are coming, and when they do so people will be able to trade freely and anonymously.

Poloniex changing their rules certainly makes our short term direction cloudy, but if you check, there are a lot less sells than buys.

i was just frustrated (i turned the computer completely off Roll Eyes

), the short to mid term future for monero has not been as cloudy as it is right now for a very long time. i dont know if i really belive in decentralized exchanges. Open transactions exists, yet no one really uses it. decentralized exchanges wont fill this gap for now. A quick and dirty unregulated, centralized exchange needs to pop up until then, somehow comparable to how cryptonodexchange did it, just in Tonga, Monaco, whatever Cool

Lloydimiller4

full member

Activity: 186

Merit: 100

Monero

Quote from: medusa13 on May 20, 2015, 01:09:40 PM

still feel dull, took me some times to process the somehow bad news. atm i really dont know how it will play out in the future, some people definitiley left polo. maybe they will return if it stays the only liquid market, but for now i dont think so. even if this has nothing to do directly with xmr at all, yesterday was one of those rare nights i turned my node off after all my transfers finished.

i was very bullish the past few weeks, but now my sentiment somehow turned due to this. i feel cheated by poloniex. not becasue they implemented those rules, but becasue of how fast they did it and how they communicated it. the capital flight out of polo was sure enormous and is not yet finished it seems. people clearly prefer btc to withdrawl. maybe the people joining becasue of margin trading will compensate it, maybe not.

and no, i am not a botnet owner.

I don't know why this impacted your decision to turn off your node?

Polo is a U.S. exchange, they need to comply with U.S. law. It sucks that it happened so quickly, but I'd rather there be an exchange than none at all. I believe decentralized exchanges are coming, and when they do so people will be able to trade freely and anonymously.

Poloniex changing their rules certainly makes our short term direction cloudy, but if you check, there are a lot less sells than buys.

medusa13

sr. member

Activity: 453

Merit: 500

hello world

still feel dull, took me some times to process the somehow bad news. atm i really dont know how it will play out in the future, some people definitiley left polo. maybe they will return if it stays the only liquid market, but for now i dont think so. even if this has nothing to do directly with xmr at all, yesterday was one of those rare nights i turned my node off after all my transfers finished.

i was very bullish the past few weeks, but now my sentiment somehow turned due to this. i feel cheated by poloniex. not becasue they implemented those rules, but becasue of how fast they did it and how they communicated it. the capital flight out of polo was sure enormous and is not yet finished it seems. people clearly prefer btc to withdrawl. maybe the ones joining becasue of margin trading will compensate it, maybe not.

and no, i am not a botnet owner.

dEBRUYNE

legendary

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Merit: 1141

Quote from: Lloydimiller4 on May 20, 2015, 12:59:13 PM

Quote from: ?? on ??

Wow, down to 150k XMR on the ask side of poloniex.

Yea, this is the lowest I've seen it in about half a year maybe?

Anyone trying to buy in right now is going to move the price, unless some bears/shorters appear to try and delay the inevitable Roll Eyes

It was around 110-130k for some minutes during the last run-up, when some guy bought around 160 btc worth of Monero at once. It looks nice though, the ask side decreased with about 120-140k and the bidside only with about 50 btc. The KYC of poloniex will probably scare some malicous (botnet) miners away, who now have to find other options to sell. This might reduce the overall sell pressure, which as a result benefits the price. Futhermore, the ask side currently looks very smoothly with no real (scare) walls. Afterall, this might be a good thing to happen to XMR.

Lloydimiller4

full member

Activity: 186

Merit: 100

Monero

Quote from: ?? on ??

Wow, down to 150k XMR on the ask side of poloniex.

Yea, this is the lowest I've seen it in about half a year maybe?

Anyone trying to buy in right now is going to move the price, unless some bears/shorters appear to try and delay the inevitable Roll Eyes

rdnkjdi

legendary

Activity: 1256

Merit: 1009

KYC/AML?

Topic: [XMR] Monero Speculation - page 1897. (Read 3314330 times)