Topic: [XMR] Monero Speculation - page 1978. (Read 3313076 times)

Who doesn't want to get Mark Force IV'd?

But yeah I'm also having some BTC/XMR on Polo for some short-term trades but most of my holdings aren't in exchanges because I don't want to get Mark Force XXXIV'd.

~200k XMR out of ~7m total supply is 2.85% of coins on Polo, which isn't a low percentage but it can and will definately go up as the price is moving up, or coins will be market sold into big buy orders as we saw 2 days ago.

Even under threat of being goxxed (DEA'd?  Mark Force IV'd?) there are still over 600 brave BTC on Polo chasing ~200k XMR.

Wait until everyone else realizes the XMR rocket is only going straight to the moon, and then we'll see some proper FOMO panic buying (especially when a fiat<->XMR exchange comes online).   

You can't make conclusions like that by judging the orderbook at this moment.

Most coins aren't held on exchanges since noone wants to get goxxed, if the price would rise to let's say 0.006 a lot more XMR will pop up on the sell side.

Ofcourse 5000 BTC will take it to new ATH's, but at this stage it's just impossible to buy so much XMR without buying up the whole orderbook more than once.

Even if you would buy so much XMR you will have bought a lot of coins at a price where noone else wants to buy, so the price will crash shortly after and you will have lost a lot of those 5000 BTC in purchasing power.

I hate my bullish way of talking but indeed 5,000 btc alone will take the coin to new level - even if you expect some weak hands shaking their Moneros on your bosoms.
As you said, there are coins in the sidelines but also some sell orders might get cancelled when the sellers get the point.

You can't make conclusions like that by judging the orderbook at this moment.

Most coins aren't held on exchanges since noone wants to get goxxed, if the price would rise to let's say 0.006 a lot more XMR will pop up on the sell side.

...
Methinks XMR might (and probably will) "rise [like a] chikun" (as was chanted in the btc-e trollbox) like LTC ran from $1.11 to $48.48 in fall of 2013.  This will likely accelerate as BTC finishes the bottoming pattern and begins its next rally to $3-$10k BTC/USD.  XMR will be a greater "chikun" than LTC especially once GUI arrives and it grows widely adopted & utilized.

Judging the Poloniex sell orderbook it is actually quite easy to reach 10 % btc marketcap for Monero.
I do not want to pump but I am quite positive we will reach it.
You can buy quite large stake of Moneros for 5,000-10,000 btc.
Perhaps if if you triple that you can shake pretty many weak hands.
Just a quick reminder, 5 kbtc represents just over 1 million usd.

Now, this is where it gets interesting. Those with the foresight to see BTC years ago is a rare thing. Black Swans are hard to spot, even when explained and handed to you (e.g. Just think of all the people who have heard of this space (from us) and do absolutely nothing. Some of whom might even ask you for investment advice 2 weeks after this talk but never bring up BTC! Hello, Hello, McFly). Anyway, so now these select few are looking for the next great step within and without this space. And imo, some have found it...

Something (or is that someone) tells me quite a few of them are looking here. 

So perhaps it is formal English, which has the problem. Judging your own manner of writing is understandably hard.

Anyway, the bold statement was intended to have the meaning:

"If ever in the future, some of the (honest - not intended to apply to premines such as Auroracoin or token coins with indeterminate supply and function) alts reaches even as low as 10-20% of BTC's marketcap, this is an indication that it has all that BTC has to offer and more, and will probably take over."

I think "reaches" is a state satisfied by the quality of the binary, "has it been reached (or touched, if you'd rather)?". Presently, the answer is "yes" by Litecoin but by using a future tense verb in conjunction, you could infer that he effectively means "when an alt reaches (or "touches") again i.e. in the future".  I think. I don't know :p

Supply might be 4x, but they weren't released on the same dates. In November 2013 there were only approximately 2x as many LTC vs BTC, which still equals about 10% of market cap.

Although colloquial English cannot differentiate between present and future, it should be clear from the context that this clause refers to the future (hint: use of will indicates explicit future tense).

Litecoin, at its very highest peak reached ~0.05 LTC/BTC. Mostly it's been 0.03 or lower. Since supply is 4x that means LTC was worth 5*4 = 20% of bitcoin.

Litecoin, at its very highest peak reached ~0.05 LTC/BTC. Mostly it's been 0.03 or lower. Since supply is 4x that means LTC was worth 5*4 = 20% of bitcoin.

Wasn't Litecoin at it's peak about $1 billion vs Bitcoin at the time around $10 billion?
Now look at Litecoin...

Bitcoin has the first mover advantage and massive adoption, no altcoin even comes close. To overtake bitcoin we'll need something that is as revolutionary as bitcoin is to the fiat/banking system. Monero is not that.

If minor improvements is all that it takes, we will soon enough see monero outcompeted by other currencies. Who's to say there won't be a zerocash type currency coming out where the parameteres are generated in a trusted manner? Suddenly everyone will flock to "the next big thing". Switching quickly between currencies like that means the storage of value is lost, nobody would use USD if they knew next month USD 2.0 will come out and their USD 1.0 will quickly decline in value. And then month after that USD 3.0 comes out with same result. This would be horrible for the ecosystem (and that without mentioning the huge costs of infrastructure change), and I don't think this will happen.

Monero serves a purpose, but for the majority of people the anonymity offered by monero isn't a revolution compared to bitcoin. Even if it was, bitcoin could implement it. That applies to any altcoin, too much is invested in bitcoin to let it be outcompeted. If there appears to be a serious threat, bitcoin will adapt.

It may turn out to be the case that bitcoin never goes anonym like monero. This could put a lot of pressure of it's back from governments that will instead be directed at monero and other anonymous currencies. Maybe that's a good thing.

Keep in mind that sidechains are coming, those could potentially make monero obsolete.

I realize this is swearing in the church, I like monero very much, but let's not get delusional. It's future success is not set in stone. I think at best monero can be a high liquid altcoin like LTC has been, and work as a complimentary currency to bitcoin. It may be, that bitcoin takes the spot as mainly storage of value, like gold is today. And that monero takes the spot as transactional currency. But it will never be the #1 crypto. That ship has sailed.