Topic: [XMR] Monero Speculation - page 2019. (Read 3314350 times)

I do not buy the argument that Bytecoin existed when DRK was launched in January 2014. https://bitcointalksearch.org/topic/blowing-the-lid-off-the-cryptonotebytecoin-scam-with-the-exception-of-monero-740112. While it is very legitimate to question that actual effectiveness of DRK's anonymity it fair to say that it is perceived, to a significant degree, in marketplace to be an "anonymous" coin.

There is little doubt that there is a concerted effort by one or a small number of DRK whales to support the price at 0.01. The question that comes to mind is why? The support for DRK is actually in the 0.005 to 0.006 range. This is apparent from the charts, particularly the daily chart. So the question then becomes will DRK get hurt badly if it drops to 0.005 - 0.006 where it has been for over three months? A drop to this range world put DRK at about a 7-8 Million USD capitalization. It is here where XMR, and in particular the emission rate of XMR, comes into the picture. If XMR were to reach a level of say twice its current price, say 0.0044, this would put the capitalization of XMR above 8 million USD and more importantly above that of DRK effectively negating the one advantage that DRK currently has over XMR, namely the first mover advantage. There are many scenarios where this can happen particularly if DRK were to continue on its bear market.

My take is that a crossover between the capitalizations of DRK and XMR would likely accelerate the drop of DRK and the rise of XMR and this is the fear of many a DRK holder that leads them to attempt to support DRK at 0.01. This should also be of concern to a anyone looking at acquiring a significant position in XMR. The situation is very different from last summer because of the XMR emission.

Thanks, after I disabled Flash it seems to be a LOT smoother!

Below a visual representation of the whale(s) artificially keeping DRK above 0.01 using the OBV (On Balance Volume) indicator on the 12h charts of Cryptsy and Bitfinex

Bitfinex


Cryptsy


On Bitfinex the OBV levels are even lower than at the low of 0.005488, on Cryptsy the OBV levels are the same as around the ~0.007 levels

So a LOT of coins have been dumped into these buy orders and is still going on, distributing the coins even more in the hands of one or a few big players.

I won't even talk about the instamine because that has been discussed a gazillion times already.

I don't know how many of these sellers will buy Monero though, but I guess definately a good %, they bought into DRK for a reason right?

I had no trouble on polo but have heard this twice recently. Have you tried a different browser or added any new plugins? Try disabling ll your plugin/addons and see if that helps. Especially Flash/Shockwave. that causes all kinds of slow downs not to mention the security holes that come with it. Polo was zipping along fine the last few days I was watching. Funny I haven't watched the price in months and just happened to start watching right before the big push. Nice Timing. That was alot of fun to watch.

blacky90, please do not post on this thread again

Yes I know 4000 XMR is nothing, just had Wisdom open only because Polo lags a shit ton since recently and the max depth I could see was ~4000 XMR.

The big DRK holders buy up even more and keep the price up just to keep it up.

It's definately not good for the distribution of the coin and along with the recent uncertainty about the name change a lot of holders probably either already sold or will be selling when the buywalls fall.

I guess a bit of the run up to 0.00283 was because of this and we will see if it continues to increase the demand for XMR the coming week.

The last upward move had a 24 hour period, with over 200,000 XMR in volume. 4000 XMR is nothing. By the way DRK/XBT has just hit 0.01 on Bitfinex. All I can say is that if you are short XMR in any way ignore DRK at you peril. I do not normally focus so much on another coin, but the situation in DRK is such that it can easily set off a buying panic in XMR.  

If only they had something, umm like a digest or something.

Let's get back to speculation

Poloniex 6h chart



Price is consolidating between 0.0022 and 0.0024 which is right around the 38.2% and 50% fib levels of the rise between 0.00165 and 0.00283.

RSI have fallen back to around 50, we have been in the overbought zone from this year's top down to the 0.0024 level.

Since we're in a bull market I'd expect Monero to rise in the coming week, we could also test some lower levels since the orderbook is pretty thin at the moment, a big buy or a big sell can move the price quite a bit.

Currently ~4000 XMR buy sends the price up 11%, ~4000 XMR sell sends the price down 2.5%

Thanks for this info dood. I can't bear to spend more than 10 minutes a month paying attention to DRK developments.

I don't expect a real conversation but since I expect the same result I prefer to remind the shill about the thread rules rather than the other alternative which was just deleting it (and then be accused of bias against anti-XMR points of view).

The DRK/XBT market is certainly worth watching. There is a concerted attempt to support the price at 0.01 with a sizable hidden wall at 0.010001 on Bitfinex which I estimate to be at least 50 - 100 XBT at one point. This is "protecting" the visible wall of over 50 XBT. at 0.01. We have seen over 20000 DRK sold into this support in the last 24 hours. Here is my take: Eventually this will give way (no one will support a coin that wants to go down for ever) and DRK/XBT will break 0.01 sharply on the downside. If this happens watch out for a sudden and sharp upward movement in XMR/XBT.

Lol, you speak to it as if it's a non-shill/sockpuppet.

Enough. Add some substantive content to your posts or go away

Yes you are right. We will always lose to those, but at least we can put in a good showing. Most people have some idea that sock puppets exist and can't be trusted.

I voted but IIRC that book or another one (can't recall) was just a way for the Author to gather alts for good reviews in his book. I may be off base but I remember one of those scams going on in the past.

starting to think to sell my xmr

What a joke though, they're including coins which are basically dead. Maxcoin 

It's so hard to write a book like that with the speed that half these cryptos come and go with.

Crossposting for awareness:

Back to trying to drive the price down again I see. How much profit did you just take? Need to replenish the stock?


Not Sad, That was fucking GREAT! That retard's asshole must be burning now!


This has certainly not gone unnoticed by those that monitor this thread. As I already responded this very thing to your earlier post. So now you will continue to attempt to sway the n00bs (which is a waste of effort IMO) or change direction and try for a Reactance, neither of which will effect the market. You hold no sway. I suggest you start a new account or switch to a puppet and start over.




I see those DRK holders that were smart enough to hold for the bounce will (and probably have been) be diversifying into XMR as the choices are limited and there is no question on the most stable and qualified DEV team of the bunch. Unfortunately for them the hands are strong in this coin so their only choice to get in at a reasonable price is a slow accumulation. As I posted earlier I see the bottom of the profit takers to be .0021 and then the strong hands will stalemate the emissions as the new blood gives us the steady increase this coin will enjoy until all lost gains are seen. I don't see any variation in this long term unless a truly unforeseen event occurs such a a true exploit is found which after all the BCX fud with everyone and their brother looking at the code is tantamount to nil.


So Anyway my hope is that tonight I triple up on the poker table and can buy in at .0021 again for the slow rise. If I am wrong and the stars all align and the price skyrockets then I have made a grave error and will be left out and conversely if someone else with 100k decides to dump (Inconceivable -- and I do know what that word means. ) then I will gleefully grab all I can.



Now back on the subject of large holders, I'm going to take a stab that that 100k came from mintpal? I've asked before but have not got an answer, Is there any breakdown of the MP coins distribution? And does anyone know or would like to share what amounts the actual whales hold?


Also will the retard who did the dump please stand up and raise their hand so we can all applaud.