Poloniex is retarded, millions of dollars pump random shitcoins at complete random. And the thousands of traders just jump on at any given time or moment, with no rhyme or reason or logic.
Hence why Bytecoin, Stellar, Ripple etc etc have all jumped up in value to retarded levels.
I mean seriously, Bytecoin? Stellar? WTF?
One could have made a fortune on almost any coin just by investing in shitcoins 3 months ago on poloniex and holding for 3 months.
So did you? If you had, maybe you would have cashed out on Polo, which - unless you want USDT - would have been by buying BTC. All Polo alt prices are basically in BTC - it's the exchange with the biggest BTC turnover in the world. Maybe it's a positive factor where we are? Just saying, it's not all bad news. |
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BTC rallying. XMR now at over $31 USD and as I type holding its own in BTC terms.
Perfect.
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This is why I was drawn to Monero back in Spring 2014 and have never regretted it; the team behind it is just so... cool. |
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As an investor, unfortunately i totally give up investing on XMR anymore. It is such a nice project and very undervalued imo. But something is wrong maybe advertisements or maybe some internal issues i dont know. But the price is not growing for really long. When many shit projects already multiplied their volume and price, monero is still like a turtle.
Bullish!  |
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I've picked a few up, but down to my last dry powder now - I have left it at 01399 just in case. However, 0142 may be the bottom... it doesn't seem to want to go lower. Let's see. EDIT: of course it all depends if the buy side strengthens. |
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I think we are about to see a reversal. I just bought what I could. Dust collection time again.  Likewise  it is so low now, it will not be like this for long. Especially with possible impending fall of btc Sadly, unlike some times in Monero's past a fall in BTC does not necessarily mean a corresponding rise in XMR. In USD terms we are down about 10%, so BTC's USD fall is currently being mirrored (roughly) in Monero's fiat value. For now... I hope it will change as alt money looks for quality and the recent P&D frenzy cools. |
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True, but the particular way that it's volatile may scare a lot of weak hands and institutional investors who are used to more stable growth.
You are telling me things that I have known for years. I don't really care about people led by emotions such as the two types listed by you. Bitcoin volatility is kind of a self-fulfilling prophecy - people get scared of the volatility which makes them panic sell/buy, making it more volatile.
I can agree with this. Low? It's only low compared to alts - compared to stocks, currencies, PMs, commodities.... it doesn't look it!
You do realize that it recently, albeit briefly, had a lower volatility than the Euro? Anything sub 5% in the historic volatility (as per that website) is great. Furthermore, Bitcoin seems to be on the track to reach standard currency volatility. So BTC doubling in months is less volatility than the Euro? The metrics you are using for however you calculate this are risible, sorry but this makes no sense to me, does that make me stupid? Pull the other one |
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Impressive rebound to 'normal' so fast  I must say that it is. My own "best-case" scenario was sticking above $1700 for a while, but here we are already around $1800. Prepare for the negative comments of the people who sold at the bottom though. But it was a daily volatility of around 5-15% . At this heights, we need to get used to relate it to its percentage change and not the single dollars change. Imagine when Bitcoin prices in the several thousands.
The volatility is pretty low nowadays. Historical volatility is less than 3%. Low? It's only low compared to alts - compared to stocks, currencies, PMs, commodities.... it doesn't look it! |
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Honestly I'm surprised that Poloniex has not been having MORE problems over the last couple months of this AltCoinCrazyTime situation Considering how much they're probably getting slammed on so many levels they're actually doing remarkably well. Surprised that at least one other decent "Polo Alternative" site has not popped up yet either... I know there's other exchanges but really nothing with quite the same depth and traffic etc that Polo gets. Seems like they should've gotten at least one other decent competitor by now, don't ya think? Or maybe the whole "Alt Coins Are Serious Business" thing has not really sunk in yet, with too many of the BTC Maximalists out there...? I am with you on the 'doing remarkably well' front - until this last spike in altcoins taking up the market cap of alts by a huge multi-billion $ amount at the same time as Bitcoin has powered up, they were doing way less. To expand to the point where a large slice of the all the BTC traded daily is via Polo, to trade in and out of alts, must be difficult to keep up with. Along with every malevolent fucker out there messing with them (to either manipulate the market or attempt to hack them) can't help. Sure - I will curse them if they mess up, but really - I wouldn't want their 24/7/365 relentless problems to deal with, and Busoni has really cracked it way beyond what he could have imagined. Competitors have just not been as savvy; Bittrex was there way before and Polo has overtaken it by miles. Compete with them? Pretty hard to even think of trying, how would anyone get even close (unless Polo doesn't deal with their issues). My bet is they'll deal with it - they can afford to, it's just implementing it and phasing it in while every day must bring new chaos. It's not like they can shut down for a week and and upgrade their servers easily. It's 24/7 trading in the biggest growing market out there. And (despite recent capacity and DDOS issues) they haven't really fucked up and not dealt with it honourably and fast. Where would Monero have been without Polo's early adoption, after all. I am not saying any exchange is safe to trust your money with, but Polo looks like one of the good guys and is facilitating a growth we have never seen before in Crypto. I think we might want to give them the benefit of the doubt. |
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hahahahahahhaa^ @ all of those that criticized me for selling BTC at the top a day ago.  What goes up must come down, right? I've been around too long to know that extended uptrends only last so long. Have you bought back in yet - or are you waiting for lower? Just curious... |
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Less than $1700 on Bitstamp. I think now we can call a dip, don't?
What will be the floor?
I think this is the dip, is a 200$ diff in 24h. We can only go one way now... From here it can go to about 1620 - 1630$ if it breaks under 1680 - 1690$:  Perfect! We can only watch.... |
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I would be interested to know of anyone who has been able to withdraw any crypto from poloniex in the past 8 hours or so.
I withdrew 1000 XMR successfully yesterday afternoon. I got the confirmation email in approximately 2 seconds, and the transaction appeared on the network approximately 2 minutes after confirmation. No problems here, yesterday btc and xrp. I had no problems yesterday - but Polo is all over the place now - can't cancel buy orders, can't execute buys or sells... Exchange is creaking (probably due to too many people using at once) but nonetheless, it's pretty dire just now! |
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...
Why stop there. Though I find it difficult to rationalise a scenario where any of the current alts are worth their $values without this btc rally
Actually this crypto rally is driven by alts and not XBT. XBT market dominance is plunging http://coinmarketcap.com/charts/#btc-percentage This is very different from the past. Sure, the alts are driving the this general crypto rally/bubble, whatever you want to call it but you cant seriously think that if btc was down in double figures that we would be seeing $100 ETH, $20 ltc etc etc. All the market share figures are showing is that the alts are outpacing btc in terms of % gains but the real world $ figures would be orders of magnitudes lower if btc wasn't so high. Imo thats undeniable. Sanity + 1 But it can carry on being irrational for longer than you expect. Just be prepared for when it stops? |
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>$100 USD does not sound that crazy for XMR anymore.
I remember fantasising that Monero may get to $10 one day, my fantasy was destroyed by reality, I'm going to move that outrageous dream to $400 Dreamers gotta dream Why stop there. Though I find it difficult to rationalise a scenario where any of the current alts are worth their $values without this btc rallyI think this may be true - but not with non-major moves in the price of BTC. The alts seem to claw up soon after every BTC spike up - implying the orchestra keeps playing for alts while BTC rises or stays strong. On WallObserver everyone keeps saying 'The end of alts will come with the ultimate rise of BTC' but this 'wipe out and return to BTC' is just NOT happening as they expect. I don't disagree with ArcticMine but I think it's not one sided; BTC and alts are currently symbiotically linked - but therefore it looks like an overall crypto market bubble - the two parts of the market are ebbing and flowing and feeding each other. If BTC were to collapse steeply and go into a bear market, I don't think alts would keep up their current USD values at all - I don't see how they could when their 'cash out value' is basically linked to the worth (and expected worth) of BTC. So your theory is correct in that the overall market is ultimately BTC-dependent, as is the value of alts - irrespective of the (agreed) differences and genuine alt growing partial autonomy from BTC this time. If BTC does not (badly) crash but continues to rise, so will the alts and it could go far higher with all the new fuel entering the market. If BTC drops badly and sentiment turns - all market caps will lose $ value. |
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>$100 USD does not sound that crazy for XMR anymore.
What always sounded crazy was $0.50 Recently I have found myself driving more slowly Ahem. I know exactly what you mean; life is a little more... precious of late. |
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is this gentleman?
I am not sure yet - but I certainly hope so.. |
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Am I allowed to say:
BOOM!
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$30 ladies and gentlemen! An unexpected but welcome treat.... Where ya been bro? HoneyPony been bouncing around this range now for awhile already... at least since, what is it? Yesterday? So, what? Yer not sittin' here glued to your Poloniex browser tab, like the rest of us? LOL Srsly with trash like Dash re-taking $100 again (wtf?) nobody should be surprised when XMR gets to $50+ sooner than we all expected, maybe. OR "srsly" again OTOH it's really good IMHO that XMR is being left out of the crazy bullshit P&D games, so we can achieve $100 "soon enough" on real organic sustainable basis. Maybe by year end? No problem I'll be here & can wait as long as it takes... Unfortunately I have a life that seems to get in the way - but after reading 'why Monero can't pump' just a few minutes ago, to see some serious green candles taking us to ATH (stamp BTC price) levels is hugely uplifting. I have been in XMR all the way and when it got below 0.001 in the doldrums era, I just thought 'to hell with this, I am backing this coin come hell or high water' and bought the hell out of it to average down my cost price with a fair slice of my BTC. Now XMR dwarfs my BTC holdings by a large margin, so I am and will remain one of its biggest fans. This bubble market will pass and when the dust settles Monero will certainly be in there. For sure. And so will I. |
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$30 ladies and gentlemen! An unexpected but welcome treat.... |
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Makes sense, so basically a good honest coin can't compete against easily pumped, pre-mined coins... In the short term. Yes, the alts market is a frothy, easy to manipulate place... But with the whole thing in a bubble, it cannot last forever. In the end, only real coins with real use cases will win out. |
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