Topic: [XMR] Monero Speculation - page 2187. (Read 3313070 times)

Still holding up

it remains a clone of blackcoin, for all of that.

plans are subject to very heavy discounting, particularly when their credibility rests on sandy foundations.  this should just represent opportunity to the conviction investor.  to the pump and dump player, however, it can be quite threatening.  isn't it elite to be closer to market than Ethereum?

BTCD pricing is following a pattern typical of end of PoW.  the transition to PoS creates a temporary surge in the market clearing price.  demand rises while supply falls simultaneously.  this has historically been a temporary condition.  truly brilliant P&D ops have managed to milk this through several pow/pos cycles.  i am looking at you, XC.

when there is more evidence that a valuable service will materialize which is available only through BTCD, i am sure that holders at that time will benefit, to some degree.  i find the appeal of that prospect questionable on several points, among which are the dilution prospects of any open source project.  the project may be worthy of support, even while the coin is toxic, as an investment.

it is fair to say that my words may cause fear, uncertainty, and doubt in the minds of prospective BTCD investors.  FUD may also serve as an acronym for Facts U Dislike.  (thank you, Blitz, for that)

As an investor in XMR I have spent a considerable time researching the competition particularly those coins that offer privacy in one way or another. As part of this research I have spent a fair amount of time on BTCD. The teleport idea does have merit. The privacy advantages here apply more to XBT or other similar coins rather than XMR, nevertheless the true paranoid could teleprot XMR using BTCD. What I do not like about BTCD is that it is a POW/POS hybrid rather than a pure POW coin such as XMR. For this reason I do not consider it a real competitor to XMR, since I am not convinced of the security of POS. In any event at best it is competing against other POS coins rather than POW coins.

We broke .00376, but not by much.  I'd guess it's within the margin of error for such a relatively illiquid market.  I'm looking at the Poloniex chart, but maybe the MintPal is different.

All I know is I am now scared to death of selling and I'm looking for more buying opportunities.  Thought I'd be pretty slick and sold at .00396666 on BTer.  I think I had 142 and change on BTer with most of my holdings (80%) on Polo.  Figured I'd get cute and buy back lower.  Fuuuuuuck that shit.  I did end up buying back at .0037999 so I made basically 6 XMR on the round trip.  Peanuts.  Totally not worth the risk of a big breakout.  I got lucky, but it is not my strength to pick intermediate spots like that.  Won't be trying that again.  I was sweatin' it.

Edit: next time, I'll just buy 148 more (try to time an entry point) without trying to find a sell point.  I'm fortunate to have bought enough on the way down at .0034, .0031, and .0029 that I probably won't find myself underwater for a little while.  Need MOAR XMR!

Fair enough then! Just for the record, I own ~47K XMR, and I think monero has a great future, and I'm really excited at the prospect of being able to (maybe) teleport XMR around on the BCTD privacy network. I'm very impressed with jl777's desire to try and unite the whole crypto coin community into a 'super network' that adds privacy features to ALL coins. As an investor that makes all coins more valuable, but I'm disappointed some other monero followers seem to have missed that point.

I've been around this forum since mid 2012, and teleporting coins via the BTCD privacy network is the most exciting development I've seen since bitcoin itself.

You know by now what the plan for BTCD is, to call it a clone of blackcoin is FUD.

Post deleted:


Please do not spam the thread by quoting a whole page of promotional materials from another coin. Incidental discussion of other coins as they may relate to Monero Speculation in fine.

jl777 mentioned that BTCD was using the blackcoin code base.  If that was blatant FUD, then it came from the developer.  I haven't compared the code, but see no reason to doubt James.

Someone here got more knowledge of Elliot Waves? I don't know if we can apply this to such a illiquid market. But I think we will see wave 5 soon. (with 0.0032-0.0037 as wave 1, sideways/slowly griding down at 0.0036-0.0037 at wave 2, 0.0036-0.0042 as wave 3, 0.0042-0.0038 as wave 4). If anyone with more knowlegde on this topic could comment I would appreciate it.

Bytheway, we bounced of 0.0042 again, third or fourth time. Pretty tough resistance area there, we will probably boom if we break that.

EDIT: I remembered that I read something about it on babypips a few days ago. Looked for it and found this:

3 Cardinal Rules of the Elliott Wave Theory

Rule Number 1: Wave 3 can NEVER be the shortest impulse wave
Rule Number 2: Wave 2 can NEVER go beyond the start of Wave 1
Rule Number 3: Wave 4 can NEVER cross in the same price area as Wave 1


Read more: http://www.babypips.com/school/summer-school/elliott-wave-theory/the-3-cardinal-rules-and-some-guidelines.html#ixzz3BXs0q1Jz

I think this run-up breaks none of the rules so far, but as I've said, I've got minor knowlegde of this topic, so would appreciate it if someone with more knowledge could comment on this.

and what about this trendline at the 4h chart?

Yes, indeed. There's a lot of money to be lost in the alt space in general. That's going to leave a very sour taste in many people's mouths about crypto in general. I keep arguing this point with the various shameless alt-promoters out there who shout about the alt-space being such a beautiful field of fertile experimentation and human creativity, and all I think is that all these wide-eyed kids are about to experience a dot-com style financial bloodbath.

In XMR I'm expecting a slow rise with bumps.  No significant month-end dumping this time, unless there's a delusional panic of some sort.  I can barely even formulate this expectation, let alone articulate a justification for it.  If pressed, I would say:  Not enough monero on offer to stay below 0040, but too much disaster going on in cryptoland for a proper bull stampede.  BTSX is an absolute catastrophe for crypto generally, on the scale of Mt. Gox.  Other price leaders are pretty awful too.  DRK is destroying a lot of wealth.  Naive DRK holders who don't understand the distinction between DRK and XMR at a technical level just feel robbed.  BTCD could do a lot of damage to crypto as well.  This PoS blackcoin clone's market cap passed XMR today.  It could be several days before it collapses into obscurity.  Until it tops out, the dumpers won't be rolling their ill-gotten gains into XMR yet, so no choo-choo.

What works well is just to shrink the chart down using this "img width=200"  (Just add the "width=200")
It is quite small but you still get what the chart looks like.



IAS

Guys, please do not continue to quote the same large chart on every post. Once per page is enough.

Future offenders will be deleted.

OP edited

I get the feeling were going to be waiting quite a while for any significant upward movement.  

Triple top on the 30 minute chart @ 0.0042 area (strong resistance), support is @ 0.00376 area. It's important that we don't break that level. If anyone has some additional TA feel free to post it.


We broke this  

You made me look at the Dark charts.  It hit a low of 2.4 mBTC a week ago as I was leaving for a few days away.  XMR also hit a monthly low around the same time and I couldn't help but buy a bit more.

I have no idea where XMR is going for the short term, only the long term. 

Although some Dark money might be going to XMR now there are several other places for it to go.  Flavor of the moment.  Eventually a good portion will end up in XMR.

Nice uptrend at 1h chart. Let's see if this trendline holds in the next few days


edit: with DRK below crucial support at 5.6 mBTC, I think the XMR rally will continue

I'm very pleased that a coin like XMR can hold value in such early stages of development. It will be very interesting to see what will happen once this becomes a little more user friendly.

I will probably continue to buy this coin for the foreseeable future.

Indeed.