Starting to build a margin position here. From 0.0035 to 0.007 is 2x your BTC. It's inconceivable that this won't happen, and it will likely happen in Q1. Even if we only recover to 0.0053 that's 50% return. XMR has been going down almost consecutively since mid December with no recovery in sight. There's no fundamental reason that I can see for this complete wreckage. We're back to 2016 levels. Before the alphabay pump when XMR struggled to break out past 0.0042. Not that other altcoins are doing great, but for XMR this is the kind of blood in the street and full on capitulation that's perfect for entry. I can't think of any better purchase than monero at the moment. Not a big fan of margin, but just can't help it at these levels.
STRONG BUY
So, who else bought the bottom?  |
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Hey, you may have to spark up the old exchange software again!  Haha, I hope not Regulations have taken all the fun out of it. The only way forward is to completely decentralize trading on permissionless, unstoppable exchanges. I believe centralized exchanges will take a big hit in the coming years as we transcend them with decentralized finance. The old broken financial system is pushing us out, and they will come to regret that. Now atomic swaps are being worked on, and there are experiments with wrapped xmr. Eventually wrapped xmr will be made trustless and allow unregulated, KYC-less trading with massive volumes on services such as uniswap. That will be very exciting. |
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Starting to build a margin position here. From 0.0035 to 0.007 is 2x your BTC. It's inconceivable that this won't happen, and it will likely happen in Q1. Even if we only recover to 0.0053 that's 50% return. XMR has been going down almost consecutively since mid December with no recovery in sight. There's no fundamental reason that I can see for this complete wreckage. We're back to 2016 levels. Before the alphabay pump when XMR struggled to break out past 0.0042. Not that other altcoins are doing great, but for XMR this is the kind of blood in the street and full on capitulation that's perfect for entry. I can't think of any better purchase than monero at the moment. Not a big fan of margin, but just can't help it at these levels.
STRONG BUY
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Not sure. Was the 20k Polo buy whale dumped into? If so, that's pretty capitulatey...  It was indeed. And I am now 26.6k XMR richer. This is the lowest btc ratio since 2016. I'm seeing a lot of comments these days about how "it's different this time". No, it's not different. The smart money knows this and is picking up altcoins now and going forward from people who believe such thing. There will be a new rally for altcoins once again and it will catch a lot of people by surprise.
Monero has had tremendous technological progression and adoption over the last few years. "but fundamentals". None of that matters here. The main reason for this price drop was obviously the bear market and bitcoins recovery, however, something unexpected occurred after breaking 0.01 and that was massive margin liquidations. People who believe so strongly in monero that they'd leveraged up beyond reason were sadly getting crushed. The price went far lower than they expected and they were forced to let their coins go at the worst possible time. I think we may be in, or entering capitulation at this stage.
When the price was far higher I estimated a "worst-case" target to be ~0.007. Therefore I started buying at ~0.01 and decided to go in quite significantly around these levels we are now. I don't try to time exact bottoms, that is a fool's game and impossible at the scale I operate on anyway. There is still a risk that a continued bitcoin rally could put further pressure on altcoins. But what we're seeing here is unprecedented and the upside is now far greater. So from a risk/reward perspective, while the price could drop fruther, I think betting on further downside now is a bet with very high risk of missing out. If I've learned anything from more than half a decade trading alts, it's that when the market turns, it turns quickly. If I'm not positioned by then, I won't have time to.
There is something different this time though. I've always been a bitcoin holder. That is, I hold majority of my funds in bitcoin, rarely going below 70%. Not this time. I have decided to follow my own altcoin prediction to the fullest and increase my altcoin share significantly. In fact, I am, as of today more than 80% in altcoins and ready to increase that further. Monero just became my second largest holding. I haven't owned this much monero since during the xmrbtc rally in 2016.
Exciting times ahead. Or horrible misery I'm interested, you still holding? Yes, did not sell a single monero since that post. And no plans of selling anytime soon. Historically Q1 is when altcoins pump, and this price drop seems like a huge overreaction to me. I'll admit it went further down than I expected, but I'm not too concerned. I imagine there will be support at 0.0042 which is the previous double top. Oh and I have now increased my allocation to 100% altcoins. Most of that ETH, and XMR second largest holding. |
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Thanks for sharing. We are generally on the same page here. I am curious though, how do are your thoughts on Mimblewimble, the first implementations (most importantly GRIN) and the chance, that MW might get implemented on Bitcoin. <- Definitly high hurdles for that happening, but assuming it will happen, how do you see XMR - does it still have a usecase? Thinking about filling my bags of XMR, too. Just curious on what a self-proclaimed XMR whale has to say to the "threat" of other real-privacy/fungibility cryptos emerging.  This is a long term perspective and irrelevant in short to medium term. My trades are usually medium term (e.g few months to a year). Admittedly I've not studied the Mimblewimble technology in great detail, but from what I have read it doesn't excite me all that much. Interactive payments (needing to be online) is pretty inconvenient, but the emission curve for GRIN is ridiculous and gets insta ignore from me for probably a few years. Similar to zcash, which I also put on automatic ignore for many years. It simply means there is no urgency for me to look into it. I think the zcash technology (especially considering the new possibilities of removing trusted setup) is far more exciting and a more serious competitor. Not sure about zcash itself (dev rewards, not fair etc), but fluffy mentioned the possibility of monero adapting the technology in the future which goes to show that it's promising. As for bitcoin implementing it? I have doubt it will happen on the base layer. More likely it can happen on a sidechain. But this is probably still years (?) away. They still haven't made sidechains trust-less. Liquid is federated, people don't want that (or shouldn't want that). So that needs to happen first and that will require a fork. It's just not happening anytime soon. But let's imagine that it does happen and we get sidechain on bitcoin with whatever the very best privacy tech is? Is this game over for monero? Well, there's still an argument that can be made that having ALL transactions fungible is worth something. Moving funds into a black hole sidechain on bitcoin and back in itself can cause suspicion and/or become illegal, considered a form of money laundering etc. It's preferable to have the fungibility built in on the base layer. What COULD happen is that the sidechain becomes "the bitcoin" (what everyone uses) and practically nobody will use the original bitcoin chain anymore. That's far more interesting and could be some real competition. Realistically though, Monero will have many years left before this becomes an actual concern, and the first mover advantage will keep improving in the meantime. To be honest I am rooting for bitcoin to accomplish privacy, but I'm not holding my breath. I'm a speculator. I prefer to not get emotionally attached to my investments. So if I see the writing on the wall, I will act on it. I recognize that I am no future teller and can be wrong. It's likely I'll always keep at minimum a small hedge in monero, as I have had since the start. What I am talking about here though, is a nice entry, when everybody wants monero again, I'm getting the hell out. |
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Capitulation?
Not sure. Was the 20k Polo buy whale dumped into? If so, that's pretty capitulatey... It was indeed. And I am now 26.6k XMR richer. This is the lowest btc ratio since 2016. I'm seeing a lot of comments these days about how "it's different this time". No, it's not different. The smart money knows this and is picking up altcoins now and going forward from people who believe such thing. There will be a new rally for altcoins once again and it will catch a lot of people by surprise. Monero has had tremendous technological progression and adoption over the last few years. "but fundamentals". None of that matters here. The main reason for this price drop was obviously the bear market and bitcoins recovery, however, something unexpected occurred after breaking 0.01 and that was massive margin liquidations. People who believe so strongly in monero that they'd leveraged up beyond reason were sadly getting crushed. The price went far lower than they expected and they were forced to let their coins go at the worst possible time. I think we may be in, or entering capitulation at this stage. When the price was far higher I estimated a "worst-case" target to be ~0.007. Therefore I started buying at ~0.01 and decided to go in quite significantly around these levels we are now. I don't try to time exact bottoms, that is a fool's game and impossible at the scale I operate on anyway. There is still a risk that a continued bitcoin rally could put further pressure on altcoins. But what we're seeing here is unprecedented and the upside is now far greater. So from a risk/reward perspective, while the price could drop fruther, I think betting on further downside now is a bet with very high risk of missing out. If I've learned anything from more than half a decade trading alts, it's that when the market turns, it turns quickly. If I'm not positioned by then, I won't have time to. There is something different this time though. I've always been a bitcoin holder. That is, I hold majority of my funds in bitcoin, rarely going below 70%. Not this time. I have decided to follow my own altcoin prediction to the fullest and increase my altcoin share significantly. In fact, I am, as of today more than 80% in altcoins and ready to increase that further. Monero just became my second largest holding. I haven't owned this much monero since during the xmrbtc rally in 2016. Exciting times ahead. Or horrible misery |
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Finally, after ignoring zcash for more than 2 years (I said why in my previous post) I bought my first zcash today. While the inflation is still heavy and we could see more downside the price is becoming reasonable at last. It's been a long wait, but it was worth it The question now is how much lower can we go? Judging from other altcoins, like monero, my guess is less than 50% (in btc ratio). I'm ready to increase my investment by a lot if we're closing in on that target.  |
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WEX just made another useless update on twitter. Even if they open for withdraws again I don't think they can recover from the reputational damage. Most users will leave. RIP btc-e.
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Seems quite likely that "wex.nz" here on bitcointalk is a fake user. I asked some critical questions in his self-moderated topic and just had my message deleted. A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave. You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations. This doesn't make any sense. Didn't you say that the site will close on the 15th and go into bankruptcy? Why would you add a new pair the day you close (change of plans it seems?). Another thing that doesn't add up is that you control the server enough to add new trading pair, but does not control it enough to ban the rouge admin from chat. With withdraws closed, shouldn't adding a new pair be the last thing on your mind right now? I suspect you are an impersonator. |
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Buy now at the present prices, I predict a very large price climb soon and we will not see it go back.
This post belongs in a trollbox. It brings nothing of value to the discussion. If you're going to make predictions give some reasons why you think so. Facts/information that is backing up your claim. Don't just throw out a prediction out of thin air, that's very boring for everyone else to listen to. |
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How about offering one single shred of proof that you are who you claim to be?
You think that we are fools, who will provides any evidences for an itself? That we was arrested by the FBI? I tell you one thing. You knows nothing Maybe you could upload a file to wex.nz for example at wex.nz/bitcointalk.txt and write in the txt file that you are in control of wex servers. Seems like a good way to prove it. Also I have so many questions! What is the current situation? Someone else controls what funds? You control server, domain and bitcointalk, someone else controls twitter? How did you lose the funds? Where did the original admins of btc-e go etc. I could go on and on. |
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Not much you can do if they fuck with your coins. Even USA could not catch them, so if they're gone they're gone. Sadly. Let's hope for the best, it would be a shame to lose this exchange imo.
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After going through the whole process of verifying my account, sending them signed transactions of wallets I control that received LTC, PPC and BTC from them along with much more proof they sent me this: Hi, Unfortunately we haven't found any way to work with USA citizens yet. We will renew our news portals when this possibility appears Best Regards, WEX Support Knowledge Base https://wex.kayako.comUtter bullshit. I'm not even a US resident. I haven't lived in the US for 5 years. Bitfinex was fine with non-US residents using their exchange. Non-US residents are not bound to the same SEC or exchange laws as US residents. They can just come up with some new reasons (after they have your money) on why they can keep your money. If you read the reply carefully it says "USA citizens". Resident is not the same as citizen. I'm assuming you're a U.S. citizen. I've not heard of anyone (credible) who's not from USA not getting their money (until this last maintenance that is). I'm not sure what laws they apply here, although given how USA treated them, you can sort of understand the overreach. Hopefully it will work out in the end for you, though it's not looking good right now. For anyone who'd like to speculate, there's a good opportunity to make profit now if you're willing to place your bets on wex to come through. Example:1. You have 1 BTC 2. You buy $8400 USDT on poloniex 3. You send $8400 USDT to wex 4. Current price at wex is $3000 BTC/USDT, so you can exchange $8400 to 2.8 BTC 5. Sell 2.8 BTC for WEXUSD (current price $9638), yielding you $26984! 6. You can increase the amount further by speculating that their USD token will reach 100% recovery. Current price is 0.554 which means you can turn 26984 into 48711. 7. From $8400 (1 BTC) to $48711. That's 5.8x. You are just asking for negative rep.. aren't you ?  Silly mole.. I'm not a BTC-E/WEX "mole". I'm saying if you're willing to "speculate". This would obviously be a highly risky trade, and not one that I would recommend; In case that wasn't clear from my original message. I've been considering doing it myself with some smaller sums, but so far abstained from the temptation. For anyone who'd like to speculate, there's a good opportunity to make profit now if you're willing to place your bets on wex to come through.
Are you not the person who bet tens of thousands of dollars on Gox not dying? I can think of a million better risks I'd prefer to be taking myself. Well, sort of. I bet a lot more than that. But it wasn't so much on it "not dying", rather it was on getting something back. I did not believe at the time that they had lost their entire 800k BTC. Well, it turned out worse than I expected, but they still have around 200k BTC left. So it wasn't all in vain. I think I'll be around break even to what I put in, whenever payment arrives. It's perfectly fine to gamble/speculate on something like this. Take calculated risks. Sometimes you win, sometimes you don't. If you can't handle the risk, then simply don't do it. withdrawal is disabled , What is the benefit of 48711 usd ?
who know, if usdt will rise up 10 time ?
and we can not be sure that withdrawl of btc or usd will be opened some day
For anyone who'd like to speculate or adventure , yes you are right this is a good place for find a profit Yes, you're right. The $48711 is completely useless unless WEX delivers. As I stated in my message. It's pure speculation with high risk. There's a connection between risk and reward remember. |
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After going through the whole process of verifying my account, sending them signed transactions of wallets I control that received LTC, PPC and BTC from them along with much more proof they sent me this: Hi, Unfortunately we haven't found any way to work with USA citizens yet. We will renew our news portals when this possibility appears Best Regards, WEX Support Knowledge Base https://wex.kayako.comUtter bullshit. I'm not even a US resident. I haven't lived in the US for 5 years. Bitfinex was fine with non-US residents using their exchange. Non-US residents are not bound to the same SEC or exchange laws as US residents. They can just come up with some new reasons (after they have your money) on why they can keep your money. If you read the reply carefully it says "USA citizens". Resident is not the same as citizen. I'm assuming you're a U.S. citizen. I've not heard of anyone (credible) who's not from USA not getting their money (until this last maintenance that is). I'm not sure what laws they apply here, although given how USA treated them, you can sort of understand the overreach. Hopefully it will work out in the end for you, though it's not looking good right now. For anyone who'd like to speculate, there's a good opportunity to make profit now if you're willing to place your bets on wex to come through. Example:1. You have 1 BTC 2. You buy $8400 USDT on poloniex 3. You send $8400 USDT to wex 4. Current price at wex is $3000 BTC/USDT, so you can exchange $8400 to 2.8 BTC 5. Sell 2.8 BTC for WEXUSD (current price $9638), yielding you $26984! 6. You can increase the amount further by speculating that their USD token will reach 100% recovery. Current price is 0.554 which means you can turn 26984 into 48711. 7. From $8400 (1 BTC) to $48711. That's 5.8x. |
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I would like to express my highest appreciation for the team behind btc-e and wex. USA stole a lot of their money and seized their website/servers. USA tried to arrest the owners and was ready to put them in jail for 55 years (or more), thankfully USA failed. A few months back WEX recovered 100% of my lost funds and I withdrew them successfully (this was namecoin). Yes, I didn't lose anything. WEX deserves mad support from the crypto community in my opinion. They are the pirate bay of exchanges and the real heroes in crypto.
I realize some people have issues with btc-e. I am only giving this opinion from my own personal experience, which has been nothing but outstanding so far.
If the accusations against them are true then they still have plenty of stolen BTC to launder. By using them you are helping them in laundering those stolen funds. You are one of a few. Most people got only 65% back of the stolen funds. YES they were stolen, NOT by the US Gov. There is still a hit out on the people involved, so they'll be sleeping with the lights on for a loong time I'm sure. Stolen by who? hit on who? and where are your source? The facts are: If the admins of btc-e wanted to steal money they could have done so. They could have taken 100% of our money and we couldn't have done much to stop them (you do realize that even US government failed right?). They decided to come back, and some of us already got 100% of our funds returned. As for money laundering. You can't use exchanges without KYC if you want to avoid that. Because such thing as an anonymous exchange without money laundering is not possible. |
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I would like to express my highest appreciation for the team behind btc-e and wex. USA stole a lot of their money and seized their website/servers. USA tried to arrest the owners and was ready to put them in jail for 55 years (or more), thankfully USA failed. A few months back WEX recovered 100% of my lost funds and I withdrew them successfully (this was namecoin). Yes, I didn't lose anything. WEX deserves mad support from the crypto community in my opinion. They are the pirate bay of exchanges and the real heroes in crypto.
I realize some people have issues with btc-e. I am only giving this opinion from my own personal experience, which has been nothing but outstanding so far.
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I had my account on HitBTC "hacked" today. I received a password reset e-mail, which I deleted. Then a little later I got an e-mail about successful login by an attacker. I use unique passwords on all sites, and since password was reset anyway they didn't know it. However there has been no logins to my e-mail, so how did they get the reset link?
While I usually enable 2fa I did not have it enabled on HitBTC as I've never used them before (always considered it to be shady or scam). Yesterday I had to use them to dump my bgold. I withdrew my funds yesterday, but I suspect this may have been an inside job. The pieces just doesn't fit. Perhaps insider is looking for high value accounts to drain, but in my case he was a little too late.
IPs used by attacker:
64.237.40.140 Matawan, United States (used to reset link and login)
5.101.221.91 Nicosia, Cyprus (20 mins before attack a failed login)
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By request I'm re-uploading "Luke the Moonshot" PSD file. The mascot that was introduced by HitBTC in 2014.  Luke, Monero Mascot PSD: https://mega.nz/#!0gsRXCpZ!aqp0l-6ab4tw_V004EZNHcbiSMREj63yFgCuVnXOfTM  I'm also re-uploading monero logo PSD and AI (Vector graphics):  .psd: https://mega.nz/#!UgUR3KKS!A74tZLZj_Zjs5FER2L9wm9KOQkNk8cZx_Tsq-maOj9E .ai https://mega.nz/#!cp8iSJQb!gQ_fv_-g79H-LX4npAmaaA8it40o_oC4Mm-YBSbvzrM |
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BTC-E is back online. I just got my withdraw. The fudsters who's been spewing out junk here during these hard times better take a long, deep look in the mirror. You know who you are. oh and...  I'll say it again, BTC-E deserves mad respect and support. They are champions in this space. |
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