You're picking out moments in time, and you have no clear evidence that XMR is not priced high already.
www.coinmarketcap.com XMR ranking at 12th spot.
Topic: [XMR] Monero Speculation - page 2167. (Read 3312335 times)
You're picking out moments in time, and you have no clear evidence that XMR is not priced high already.
www.coinmarketcap.com XMR ranking at 12th spot.
Looks like some folks just got a lot of cheap Monero!
It was dropping yesterday before this incident, so they've not really got a lot of cheap Monero.
More like panic bought a lot of Monero.
Was dumped to +- 0.00375 and went straight up again, I think he meant that
Yep. Panic dumping out of fear is ALWAYS a bad idea. I watched it happen with BTC on the March 2013 hard fork, the SR crash, and all of the mini panics when Gox was freezing up all the time. This is reminiscent of those times.
Yeah, those that panic sold BTC at $500-1300 must be kicking themselves.
March 2013 hard fork caused most people to panic sell in the $30s. Yes they are kicking themselves.
SR crash caused most people to panic sell in the $80 - 120 range. Yes they are kicking themselves.
All of the times GOX froze were before they upgraded their trading engine which was before the October rally began. Those little panic sales were also a bad idea.
I just mean when a minor issue occurs, newbs think that price is going to drop like a rock and not recover for a while. They think they'll have a chance to pick up coins later for cheaper. It almost never happens that way, because those that understand that the fundamentals have not been irrecoverably damaged buy all of their discounted coins. This just happened with XMR, although the panic was not as bad as I had expected.
You're picking out moments in time, and you have no clear evidence that XMR is not priced high already. It is still just another alt, not even traded on Cryptsy. The panic sellers are probably right. Sometimes panic is good. There is no reason for panic sellers to take a risk and hold given XMR is young, not widely adopted, has broken code, and is one among 1000 altcoins.
Of course are those moments in time. Most of us was there yesterday when trade on Poloniex resumed and someone dumped few XMR and price fall to 0.00375. And altho many would like to buy at that price, only few were able to. You not only did had to be there in that fraction of time, you also needed to have buy offer set at 0.00375. If your offer was at 0.0039, then well you could not bought at 0.00375. And if your offer was at 0.0036, then also bad luck for you.
Because I am slow to type, I could not participate in the initial whipsaw
There's a win for the little guys
I was waiting until 3am for the market to open on Polo, when it finally happened it moved so fast I was in shock...saw 375 on the sell orders after about 2 seconds and I thought to myself, no way it got down here that fast, something clicked and I picked up 150 odd coins at that price...Obviously tiny in comparison to most but I'm happy about it. Especially after worrying all day I was going to lose all my XMR due to the hack, afterall it's been pretty much the only coin I hold that has done well.
the panic was not as bad as I had expected.
I got lucky: "ristopietila: my dream scenario would be a dump to 370, low enough to enable some acquisition and carve a low, but high enough to end the dreaming of monero ever going as low again"
Nice call. Did your bid get filled? I see a low just shy at .003735!
Not really. I had applied to Poloniex that the investors could enter orders before the markets open (which has been the case in every market since time immemorial but seemingly not crypto, as both Mt.Gox and Poloniex have refused to do it). Because I am slow to type, I could not participate in the initial whipsaw (which in my opinion should not even happen if the exchanges would take the time to study how it is to be an exchange).
Poloniex did get some minuspoints, the first ones from me.
some external consultants were hired to resolve the issue and look at the code. Probably more bad or sloppy code was found which can be fixed now.
This could create an erroneous impression. I'd ask a core member to give color on it.how does one check their monero balance?
-n00b
-n00b
Kinda depends on where you keep it. Have you moved it from whatever exchange you purchased from?
Man, this was one helluva day. It's hard to believe that we didn't see a more extended or deeper dump.
I know the situations are far different, but when BTer got its NXT hacked a few weeks ago, NXT took a beating from .00007 something and then languished in the 5's for a long time. It's still more than 10% down from pre-hack. In some ways, the NXT issue seems less damaging, as it was totally the fault of the exchange, not the coin. I suspect the whole issue of how they handled the to-fork-or-not-to-fork question and how long it took may have been damaging, whereas the XMR team reacted seamlessly with no belly-button staring.
So far, XMR had a couple of wild hours, but you could damn near just draw the line over from pre-frozen trading.
Crypto definitely has some risks that one doesn't find in other investment vehicles or currencies.
I know the situations are far different, but when BTer got its NXT hacked a few weeks ago, NXT took a beating from .00007 something and then languished in the 5's for a long time. It's still more than 10% down from pre-hack. In some ways, the NXT issue seems less damaging, as it was totally the fault of the exchange, not the coin. I suspect the whole issue of how they handled the to-fork-or-not-to-fork question and how long it took may have been damaging, whereas the XMR team reacted seamlessly with no belly-button staring.
So far, XMR had a couple of wild hours, but you could damn near just draw the line over from pre-frozen trading.
Crypto definitely has some risks that one doesn't find in other investment vehicles or currencies.
how does one check their monero balance?
-n00b
-n00b
the panic was not as bad as I had expected.
I got lucky: "ristopietila: my dream scenario would be a dump to 370, low enough to enable some acquisition and carve a low, but high enough to end the dreaming of monero ever going as low again"
Nice call. Did your bid get filled? I see a low just shy at .003735!
the panic was not as bad as I had expected.
I got lucky: "ristopietila: my dream scenario would be a dump to 370, low enough to enable some acquisition and carve a low, but high enough to end the dreaming of monero ever going as low again"
not even traded on Cryptsy.
Cryptsy is the outlier. Being on Mintpal, Bittres, bter, Polo and probably few others I'm forgetting means the coin is widely listed.
I don't know what Cryptsy's problem is. Too lazy or incompetent to support the different API or like many people in this cryptocoin space looking for a payoff they're not going to get. But really I have no idea and I don't care. We're on plenty of exchanges.
Looks like some folks just got a lot of cheap Monero!
It was dropping yesterday before this incident, so they've not really got a lot of cheap Monero.
More like panic bought a lot of Monero.
Was dumped to +- 0.00375 and went straight up again, I think he meant that
Yep. Panic dumping out of fear is ALWAYS a bad idea. I watched it happen with BTC on the March 2013 hard fork, the SR crash, and all of the mini panics when Gox was freezing up all the time. This is reminiscent of those times.
Yeah, those that panic sold BTC at $500-1300 must be kicking themselves.
March 2013 hard fork caused most people to panic sell in the $30s. Yes they are kicking themselves.
SR crash caused most people to panic sell in the $80 - 120 range. Yes they are kicking themselves.
All of the times GOX froze were before they upgraded their trading engine which was before the October rally began. Those little panic sales were also a bad idea.
I just mean when a minor issue occurs, newbs think that price is going to drop like a rock and not recover for a while. They think they'll have a chance to pick up coins later for cheaper. It almost never happens that way, because those that understand that the fundamentals have not been irrecoverably damaged buy all of their discounted coins. This just happened with XMR, although the panic was not as bad as I had expected.
You're picking out moments in time, and you have no clear evidence that XMR is not priced high already. It is still just another alt, not even traded on Cryptsy. The panic sellers are probably right. Sometimes panic is good. There is no reason for panic sellers to take a risk and hold given XMR is young, not widely adopted, has broken code, and is one among 1000 altcoins.
Cryptsy in the process of adding it was said in one of the missives or in the general monero thread (If I recall correctly, somewhere end of July). One that differs that from the others, based on my view. It's not just a simple clone, pre-mine, IPO or POS coin..
Actually I think this attack did more good to monero than bad, some external consultants were hired to resolve the issue and look at the code. Probably more bad or sloppy code was found which can be fixed now.
No external consultants were hired to deal with the attack. We did everything ourselves with a little helpful input from Crypto Zoidberg (though in reality he was asleep most of the time, but if he were not I'm sure he would have helped more).
The discussion of consultants was part of an ongoing process that started some time ago (as discussed in Missives) and will continue. It had nothing specifically to do with the attack.
Didn't knew it was part of an ongoing process, thanks for elaborating.
some external consultants were hired to resolve the issue and look at the code. Probably more bad or sloppy code was found which can be fixed now.
This could create an erroneous impression. I'd ask a core member to give color on it.Do you still think this after smooth's explanation? If so, could you elaborate for me please?
Looks like some folks just got a lot of cheap Monero!
It was dropping yesterday before this incident, so they've not really got a lot of cheap Monero.
More like panic bought a lot of Monero.
Was dumped to +- 0.00375 and went straight up again, I think he meant that
Yep. Panic dumping out of fear is ALWAYS a bad idea. I watched it happen with BTC on the March 2013 hard fork, the SR crash, and all of the mini panics when Gox was freezing up all the time. This is reminiscent of those times.
Yeah, those that panic sold BTC at $500-1300 must be kicking themselves.
There is a clear difference between this (where the issue was solved) and when the BTC Bubble popped (actually bad news).
Actually I think this attack did more good to monero than bad, some external consultants were hired to resolve the issue and look at the code. Probably more bad or sloppy code was found which can be fixed now.
A difference which you have not explained.
I meant that the news from China was a clear sell signal, because it wouldn't be solved within a day. The attack of today was different in my opinion. The devs showed that they couldn't handle this and came up with a solution. I think this only boosts the confidence in monero and the devs, while the China news didn't boost the confidence in bitcoin.
Looks like some folks just got a lot of cheap Monero!
It was dropping yesterday before this incident, so they've not really got a lot of cheap Monero.
More like panic bought a lot of Monero.
Was dumped to +- 0.00375 and went straight up again, I think he meant that
Yep. Panic dumping out of fear is ALWAYS a bad idea. I watched it happen with BTC on the March 2013 hard fork, the SR crash, and all of the mini panics when Gox was freezing up all the time. This is reminiscent of those times.
Yeah, those that panic sold BTC at $500-1300 must be kicking themselves.
There is a clear difference between this (where the issue was solved) and when the BTC Bubble popped (actually bad news).
Actually I think this attack did more good to monero than bad, some external consultants were hired to resolve the issue and look at the code. Probably more bad or sloppy code was found which can be fixed now.
A difference which you have not explained.
Rikke, why do you have so much hate for XMR?
Fair question, so I'll answer it honestly.
I think it's a scamcoin being pushed by a handful of people. I think there is a strategy and goal, and so far it is going well.
Looks like some folks just got a lot of cheap Monero!
It was dropping yesterday before this incident, so they've not really got a lot of cheap Monero.
More like panic bought a lot of Monero.
Was dumped to +- 0.00375 and went straight up again, I think he meant that
Yep. Panic dumping out of fear is ALWAYS a bad idea. I watched it happen with BTC on the March 2013 hard fork, the SR crash, and all of the mini panics when Gox was freezing up all the time. This is reminiscent of those times.
Yeah, those that panic sold BTC at $500-1300 must be kicking themselves.
March 2013 hard fork caused most people to panic sell in the $30s. Yes they are kicking themselves.
SR crash caused most people to panic sell in the $80 - 120 range. Yes they are kicking themselves.
All of the times GOX froze were before they upgraded their trading engine which was before the October rally began. Those little panic sales were also a bad idea.
I just mean when a minor issue occurs, newbs think that price is going to drop like a rock and not recover for a while. They think they'll have a chance to pick up coins later for cheaper. It almost never happens that way, because those that understand that the fundamentals have not been irrecoverably damaged buy all of their discounted coins. This just happened with XMR, although the panic was not as bad as I had expected.
You're picking out moments in time, and you have no clear evidence that XMR is not priced high already. It is still just another alt, not even traded on Cryptsy. The panic sellers are probably right. Sometimes panic is good. There is no reason for panic sellers to take a risk and hold given XMR is young, not widely adopted, has broken code, and is one among 1000 altcoins.
Looks like some folks just got a lot of cheap Monero!
It was dropping yesterday before this incident, so they've not really got a lot of cheap Monero.
More like panic bought a lot of Monero.
Was dumped to +- 0.00375 and went straight up again, I think he meant that
Yep. Panic dumping out of fear is ALWAYS a bad idea. I watched it happen with BTC on the March 2013 hard fork, the SR crash, and all of the mini panics when Gox was freezing up all the time. This is reminiscent of those times.
Yeah, those that panic sold BTC at $500-1300 must be kicking themselves.
There is a clear difference between this (where the issue was solved) and when the BTC Bubble popped (actually bad news).
Actually I think this attack did more good to monero than bad, some external consultants were hired to resolve the issue and look at the code. Probably more bad or sloppy code was found which can be fixed now.
A difference which you have not explained.
Rikke, why do you have so much hate for XMR?
Actually I think this attack did more good to monero than bad, some external consultants were hired to resolve the issue and look at the code. Probably more bad or sloppy code was found which can be fixed now.
No external consultants were hired to deal with the attack. We did everything ourselves with a little helpful input from Crypto Zoidberg (though in reality he was asleep most of the time, but if he were not I'm sure he would have helped more).
The discussion of consultants was part of an ongoing process that started some time ago (as discussed in Missives) and will continue. It had nothing specifically to do with the attack.
Looks like some folks just got a lot of cheap Monero!
It was dropping yesterday before this incident, so they've not really got a lot of cheap Monero.
More like panic bought a lot of Monero.
Was dumped to +- 0.00375 and went straight up again, I think he meant that
Yep. Panic dumping out of fear is ALWAYS a bad idea. I watched it happen with BTC on the March 2013 hard fork, the SR crash, and all of the mini panics when Gox was freezing up all the time. This is reminiscent of those times.
Yeah, those that panic sold BTC at $500-1300 must be kicking themselves.
March 2013 hard fork caused most people to panic sell in the $30s. Yes they are kicking themselves.
SR crash caused most people to panic sell in the $80 - 120 range. Yes they are kicking themselves.
All of the times GOX froze were before they upgraded their trading engine which was before the October rally began. Those little panic sales were also a bad idea.
I just mean when a minor issue occurs, newbs think that price is going to drop like a rock and not recover for a while. They think they'll have a chance to pick up coins later for cheaper. It almost never happens that way, because those that understand that the fundamentals have not been irrecoverably damaged buy all of their discounted coins. This just happened with XMR, although the panic was not as bad as I had expected.
some external consultants were hired to resolve the issue and look at the code. Probably more bad or sloppy code was found which can be fixed now.
This could create an erroneous impression. I'd ask a core member to give color on it. lets be consistent in our criticisms and praises.
I like what you're saying, but...Things which are different are not the same.SuperNET is definitely OT here, so I will restrain my comments on that for yet another day and yet another thread.
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