Looks like we have de-coupled from BTC in one respect.
In the last couple of weeks the XMR/BTC price has risen with (and fallen with) BTC's rises and falls. Now we seem to be back to a BTC up, we go down in terms of XMR /BTC and vice versa.
This is more 'normal' and means a more stable XMR /USD price, but it does mean those of us who hold both are not suffering the double whammy when BTC dips, although we are potentially losing out on BTC rises of course.
I would prefer XMR to set its own price in USD, as I do think the upside, with the (as CP's post above mentiones) emission reduction, is looking good.
Now we might be able to see XMR slingshot up with some positive news and not be held entirely to what BTC does.
Yes would be interesting to see XMR slingshot up. Some old timers here have predicted this by end of October. With less coins spread over more exchanges and XMR in rude health, I wouldn't rule another spike out. Spikes in the XMR price used to be twice a year, but we're in the top 10 market cap and (arguably) worthy of a higher position in it - and rises have become more frequent with floors staying higher after them. I think Q1 2018 will be great for ALL crypto, as finally it is looking increasingly likely ETFs will be approved for BTC - meaning the big fund money is coming. A 'front-run' move to accumulate coins that are likely to be at the head of the pack ahead of this must reasonably be a possibility on the cards. The smallest bit of positive XMR news will see upwards pressure on price at a time when there simply are not enough to go around. So Rangedriver is not talking out of his hat about 'silly' prices - a move up is entirely plausible at ANY time. Don't be caught short, IMHO. |
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Looks like we have de-coupled from BTC in one respect.
In the last couple of weeks the XMR/BTC price has risen with (and fallen with) BTC's rises and falls. Now we seem to be back to a BTC up, we go down in terms of XMR /BTC and vice versa.
This is more 'normal' and means a more stable XMR /USD price, but it does mean those of us who hold both are not suffering the double whammy when BTC dips, although we are potentially losing out on BTC rises of course.
I would prefer XMR to set its own price in USD, as I do think the upside, with the (as CP's post above mentiones) emission reduction, is looking good.
Now we might be able to see XMR slingshot up with some positive news and not be held entirely to what BTC does.
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Damn - downloaded Core 15.0 for my Mac, went through all loading OK, then crashed just after it said 'done loading'. Tried a few times, restarted, tried again. Gave up.
Now back on 14.2 and need to totally download whole blockchain (since old one re-org'd by 15.0).
Grrrr.... Maybe wait for 15.x if you're on a 64Bit Mac?
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Ok, nuff said.
BTC only here, nothing else. I get it, myopia rules. I am a BTC hodler to the end. I just look happen to look around too. And it's been both informative and incredibly lucrative.
I ain't trolling BTS FFS. Just trying to see beyond into the 50% of the CC market that 'shall not be mentioned'.
Not everything else is shitcoins.
/OT
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The people who predict an 80% correction are funny. You can't take something that happened in the past, and say "see, it'll happen again!". The public's awareness of cryptocurrency is 50 times higher than what it was back then. Corrections will not be as deep as they were in the past, simply because there are many waiting on the sidelines to buy in. And when they fail to get their target buy points, the price will move up to new highs on FOMO.
As an interesting side note, I follow some non-crypto trading communities, and the number of never crypto types who are changing their minds is growing by the day. It's incredible to observe.
Times change but human behavior does not. How many folks in this thread were certain the Bithumb promotion would catapult XMR to new highs? Moneran's shouldn't forget the great Mintpal pump of 2014, which resulted in an ATH that wasn't broken for two years.
The important point though is that the price record was reached before trading began at Mintpal. Perhaps this time is different?
I do think a crypto armageddon is coming, and I think 80% is an optimistic estimate (for a market cap loss for the entire sector). When the dust clears, only a few projects will remain. Of course we can only guess when it will happen, and to what degree it will affect XMR. 80% is optimistic? I agree a shakeout is inevitable, but an 80% drop across the board is not going to be a sudden thing. 80% of coins withering away is likely but only over time and a few will more than make up for the MC loss overall by being the ones wih real use cases. XMR will be one of them. |
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Let be clear, here : Fluffy ... are for Boo and Monster Inc.  And honey badger too? |
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Shitcoin? LOL. Monero is one of the most solid and respected projects in the cryptosphere. Glad to see someone spoke up. That said, I suspect there are more quiet fans on here than the myopic on here realise, Dotto. After Alphabay there were a few who muttered here about the stupidity of using anything else than Monero for real safety, I was surprised to see it. But it was telling. BTC is king, sure - but people are slowly realising there are use cases for a truly fungible and anonymous coin, too. And Monero is of course (quietly) streets ahead in that sphere. I confess I hold a few. Not that anyone can track how many I have, of course!  |
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I'm afraid that now China, and after some other State, will begin to regulate cryptovalues. Obviously they will not do anything for the benefit of the people but all for the benefit of them, the State. They now have no control over anything ... surely there will be some state that will hurt and some State less but with taxes on taxes ... they will certainly not make crypto life easy. I just hope they let breathe the market for other few month before start tilting at windmills... which might lead to breaking legs to speculation or anyway the growth as we know it today.
The correction in price is overdue now. China and regulation is only the trigger. There will be more. Prices of cryptos can fall by 80% in the next year or so, but it is just a natural cycle.It has happened before. Aminorex / Rangedriver any thoughts on this chat? Idiotic talk, we haven't even hit bubble stage if you check a chart in log scale. Wall Street money is coming, an etf will happen in 6 months... anyone who doesn't want to be watched will move to XMR $1000.00 USD XMR by 2019 possible? Of course it is 'possible'. Many here have seen Monero they bought a couple of years ago increase to 400 times what they paid. To go up less than 10 times what it is now over a 2 year timescale is not at all out of the question. |
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"I have been holding some Monero for some time, but i am a bit pessimistic about the future of this coin, especially
after the closure of the dark web marketplaces, i just can't see it taking off again."
"Really? I am afraid I don't think you are going to find very many in agreement with you here" |
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it is bizarre that 9 hours after the beginning of this fuck up, it is not even known for sure what is really going on. even by bitcoin standards.
I mean, all participants are digitally interconnected in multiple ways, and yet we have no fucking clue what is really true.
I seem to remember it took multiple months before anyone knew what the score was with the China Ban in 2013. Welcome to unregulated market. There's nothing to prevent someone from front running the news. Looks like currently China is trading at deep discount, which brings some validity to the rumors. BTC is priced for its potential and not current utilization, as such market is very emotional and will react violently to any news. Money always brings smart people who will pick up on these things and try to exploit it. So yes it will continue for foreseeable future, now the game is to wait for actual news to hit and figuring out if the market over or underestimated it. i'd wager... overestimated it. HoneyBadger don't give a shit. |
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OK, Yep, it is China.
We will bounce back - but it does look like another weekend stressing over the charts!
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I think it might have something to do with the dollar - USD was very jittery and lost a lot today, then suddenly rallied. Which would explain gold taking a hit too.
So maybe it's not 'China' but just 'markets'. USD weakness is good for BTC (and gold) and the opposite is of course the case, too.
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Anyone any thoughts on how likely a government level ban (China, US, whatever) is on XMR?
As it grows (in strength, threat and features) is it not more likely to be banned?
Here in the US software is protected by the freedom of speech, so theoretically Monero couldn't be banned here in the US (it's also allowed to skirt some laws because it's not a "real" currency but a digital asset). -- As for China I have no idea, although I can probably guess they'd ban it if it were to start get in their way (although that isn't to say that it would actually stop the Chinese from using it). Being banned for being 'too secure' might have the opposite effect on actual usage than TPTB expected, it's a virtual endorsement of XMR security being superlative. I doubt they'd be so stupid as not every jurisdiction in the world would follow, in any case. A ban by one (however large) country would be futile. |
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Soooo looks like the bottom was at $4001.9, new ATH by end of next week?
If today ends green, then ATH soon™, but I doubt this week. I have no doubt FOMO will kick in over 5K, though. |
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XMR will be the highlight of today... Im calling a 15% rise as this china news settles and everyone gets out of all the shitcoin ICO's
XMR seems to be moving lockstep with BTC recently. Indeed, if this is the bottom of this correction in BTC, we will follow it up. Gut feeling: This will mean increase (short term) in XMR /BTC, then a medium term continuing increase in USD value as BTC climbs and confirms uptrend. If BTC does stabilise now, new ATH (think post Silk Road in BTC 2013) for BTC and much higher BTC price towards the year-end and Spring is on the cards. I hope we will feel this rise steadily in USD terms, until another slingshot moment for XMR - which, let's face it, happens a couple of times a year at least. A 200-300 USD XMR is not so far off as long as the BTC long-term bull trend is not broken, which I don't think it is. The next 24 hours for BTC really are critical |
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Love the trolls, they always come in and predict things just before we are due to rise again.
It is a good sign. Ignore them, no feeding required. They're just jealous they didn't buy when they could have - it's high flattery.
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Polo lending rates are increasing and coins available decreasing.. short bloodbath incoming
Dude, I just now noticed that and came here to ask questions about lending. (I've never checked out loaning rates before, but have heard they were dirt cheap, hence all the shorters dragging the price down. But as I watched, before my eyes, the last fraction of monero lending for 0.0001% or something like that got picked up. Now the lending rates are all 0.4%+. That's a big jump. Do you guys recommend lending, especially at these rates, or is it just better to keep your moneros off the exchange? Double edge sword, gives shorters liquidity and you make a small %. Or you keep your coins away and shooters get wrecked when it rises. Personally I would never add liquidity to lending. Well, if you want to short by yourself, you could add liquidity   Wtf would I short XMR ? ETH is the only coin for shorting now Since PBOC piped up this morning, yep: https://www.bloomberg.com/news/articles/2017-09-04/china-central-bank-says-initial-coin-offerings-are-illegal |
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Snap! |
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