Topic: [XMR] Monero Speculation - page 803. (Read 3314350 times)

"The only thing necessary for the triumph of evil is for good men to do nothing." - Edmund Burke

This is an interesting question. I think I agree (with keyjockey) who said it will bring down all crypto. Bitcoin and hence crypto in general will struggle. rather than cash out in fiat, I'd prefer physical silver and gold. Its giving me some food for thought on how to rebalance portfolio.  How likely is a bitcoin fork anyway ?

Im always holding decent coins that i know has a potential to rise by the end of the month im stocking around 5 different coins where i always make a good profit into it im just always waiting for the price to dump and then stocked they're the reason why im doing this ofcourse for my future porpuses too.

xmr
There are many sales pressures

As a recent diviserfier on the fence about protecting the value of his portfolio, is there any flaw in the logic to assume a temporary safe haven with XMR, specifically due to its connection to poloniex?  As these big Bitcoin infrastructures brace for a split, it may become incumbent on such entities to protect their nest egg until this plays out. Thoughts?

Unless you really need the money, its probably better to HODL to any decent coin at this point. 
I would put Bitcoin, Monero, Ethereum in this category. 
There is probably much more of a chance at an upside than a large loss on any decent project at this point.

Yah, well, that's the genesis of reason for my post at the top of this page, i.e. why I started this topic conversation here.

Personally, I've yet to sell-out of ANY crypto back into dollars (ugh) due to all this noise: but we've gotta look at the possibility here.  That may be a prudent course of action SHOULD things get much more crazy than they already are (which is *already* vastly worse and has gone on *much* longer than I'd have ever imagined it could've gone on, if you'd asked me two years ago when The Blocksize Issue first started to get serious).

OTOH, the main reason that I may NOT choose to sell-out back into dollars, and just try and HODL and ride-out the coming storm, is because of certain predictions lately from arguably credible prognosticators that bitcoin is going to be trading for north of $10,000 to $13,000 sometime around next February.          

If that's the case, even if it has a small chance of being true, trying to TIME THE MARKET and get OUT for all this chain-split noise NOW, and then get back IN fully for whatever will be triggering this 10X spike before next spring, could be really tough to pull off.

As frantic-feeling as HODL'ing may be during all this... it may (yet again, LOL) end up being the easiest strategy to follow.

Interesting Times We Live In... 

I informed tante the responsible (especially for a lower middle class middle aged mother) thing to do with a huge rise in a high risk speculative asset is to take *SOME* money off the table.

I did not tell her to sell *ALL* her Dash, suggesting 50% as an easy place to draw the line.

Do you understand the difference between selling 50% and selling 100%?

It seems you do not, so I will explain as if you are 5 years old.

When you take profit, you may either cash out all of the position (which reduces to zero your future exposure to price changes) or cash out a part of your position (which locks in profit while still providing exposure to future price changes).

Letting it all ride "Because Muh Hot Streak" is the hallmark of a gambling addict, and Dash is very much more of a set of poker chips for whales and Instaminers than a fairly distributed coin.

It's a texbook example of why poor people stay poor.  They get greedy and the first bit of success goes to their head.

Unfortunately, pigs get slaughtered.

Finally, you have no way to knowing whether or not, nor to what extent, anyone took my advice to diversify.

Whether it's Bitcoin, Monero, or a scam like Dash, common sense tells us to diversify when a portfolio becomes imbalanced.

Defy common sense at your peril.  There is no need to get married to an asset and hold it exclusively, especially when a golden opportunity to diversity substantial sums of newly created wealth knocks on your door.

Them Cocksuckers! At least I know what BTC I have on Polo will be handled correctly as in ETH/ETC. Luckily I also cashed out @ $20.5 but I had only built up to 40 coins anyway since sept.

You aren't the only one - see Bitcoin price.

Coinbase has a similar warning:

"Update for Customers With Bitcoin Stored on Coinbase
We wanted to provide customers notice of how a possible hard fork of the Bitcoin protocol into Bitcoin Core and Bitcoin Unlimited will affect Coinbase accounts.
The only version of Bitcoin supported on the Coinbase platform today is Bitcoin Core, currently represented by the symbol BTC.
We may provide support for Bitcoin Unlimited in the future depending on market conditions and stability of the protocol, but we cannot guarantee whether or when such support may be available. Customers who wish to access both blockchains at the time of the hard fork should withdraw their BTC from Coinbase since we cannot guarantee what will happen during the hard fork or when this access may be available.
If one chain receives an overwhelming majority of support from miners, users, and exchanges, we reserve the right to alter the names of chains or discontinue support for certain chains in the future.
Ensuring the safety of customer funds is our top priority. In the event of a hard fork of the Bitcoin protocol, it is likely that Coinbase will temporarily suspend the deposit and withdrawal of bitcoin from the platform pending our assessment of the technical risks posed by any fork, such as the possibility of replay attacks, network instability, or other factors. Customers should take note that they will not be able to withdraw bitcoin from or deposit bitcoin to Coinbase for a period of up to 24 hours or more following the fork. In the event of a hard fork of the Bitcoin protocol, Coinbase may suspend the ability to buy or sell on our platform during this time.
Coinbase looks forward to working with other exchanges and development teams to ensure the smooth execution of future hard forks with as little disruption as possible. Customers should continue to monitor our support pages and Twitter account for updates regarding our support for digital currencies on the platform."

I'm a little torn on if I should cash out some bitcoins or what? Sucky feeling.

As mentioned in WallObserver - maybe it's the fact some exchanges are mailing people about BTC 'doom / fork' - here is Circle's advice:

'Potential Bitcoin Changes
We wanted to provide you with some important information regarding potential changes to Bitcoin that could significantly impact bitcoin held in your Circle Account.

As described in our User Agreement, “Bitcoin is a decentralized currency that operates on open source software protocols which can be used, modified or adapted by anyone... As a result of the decentralized nature of Bitcoin it is possible that sudden, unexpected or controversial changes (“forks”) can be made to Bitcoin.”

Based on recent developments in the Bitcoin ecosystem, it now seems likely that one or more forks of Bitcoin may occur in the near future. Any fork of Bitcoin may have a significant impact on the value of bitcoin and your ability to access the bitcoin you hold with Circle.

What should I do?
The only way to avoid the potential negative consequences of a Bitcoin fork is to not hold bitcoin. Just go to Settings > Currency and convert your balance to dollars, pounds or euro (availability is based on where you live). You’ll then be able to hold those funds with Circle or cash out instantly.'


So nervousness about BTC affects all of us in Cryptoland...

Basically 'Bitcoin is risky' warnings from actual Bitcoin exchanges is hardly inspiring confidence.

Here is your answer to the 'does the fork affect us' question, peeps.  And it's why we aren't up when BTC just tanked to under a thousand bucks.  We should have soared up.

Excuse me, but this fork shit is hurting the value of crypto overall.  The self-righteous Bitcoin camps are myopic and intransigent and are unwilling to seek a compromise as they are all 'right'.  I seriously doubt any of them have the 'best' answer.   Satoshi might have, but there are only fake messiahs speaking now.

A plague on all their houses. And thus this battle of wills will be decided in battle. I just hope it is quick.

I cashed in as much as I could in BTC before the ETF and took it out of the market.  I see no reason to re-enter BTC right now, other than by cashing in my precious XMR and balancing my portfolio and I feel vindicated in my move.  Now it is affecting everything and the fuckers are too busy being 'right' to notice they may be burning down the house.

The glee on BTCWallObserver is slightly sickening 'Nothing wrong here, ATH soon...'

Sure.

My guess is BTC is way overpriced and there is profit taking and with the large jump in XMR there is also profit taking. I'm gueesing a drop then sideways then another spike rinse repeat. this seems to be the modus operandi since the initial spike.