You been riding this, Loaded? Hope this ain't a bull trap! |
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A bright but risk-averse family member who bought bitcoin at $180 in 2013 to humor me and shut me up, spontaneously asked me how to buy Monero a few days ago. He also thanked me for getting him into this stuff, which is uncharacteristic. I've mentioned Monero to him perhaps three times since 5/2014, last time over six months ago. Not sure what that means, but it's data.
If he's smart, it just means the last time you mentioned a coin and he bought it, he has at least quadrupled his money - so he is taking notice of what else you suggested. A relative working with me in 2013 remembered watching here with the rockets and fun as we rose up to the ATH. He didn't buy BTC then, although I did suggest it again when it was way down low in the 200s. We worked together again in the spring of last year and he got interested in Monero - he suggested I put a little of his wages into it for him. He is incredibly grateful now, it was around 50c a pop at the time. It's hard to recommend a purchase to anyone, they need to ask - you mention it's your new thing, they ask or they don't. As no one will thank you if they lose money, they have to have open eyes and know there is a risk that it will totally wipe out. But of course we talk and some of it strikes a chord. It's great fun when it works out, though. |
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This is a good time to buy now.
I hope you know something I don't... I am keeping fiat waiting, but I don't think we are in a solid up just yet. |
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I guess, you're right. What's just interesting is that the BTC down movement came from China but not XMR as China is just starting to discover it.
And what's also interesting is that on Poloniex basically all alts are up and only XMR is down.
Perhaps it's a bear trap.
Hard fork on Tuesday may be a factor - but we have been remarkably steady against BTC and vastly more stable than most alts all the way up through massive fluctuations in BTC and other alts. It does not make XMR look bad. On the contrary. |
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Is there any explanation why BTCs down movement triggered a down movement for XMR?
Yes it was interesting to see the price of Monero mirror the price of Bitcoin during the drop. Anyone have an explanation why the price has been so closely tied to the value of Bitcoin? It got that way from just before the time of the GUI release - we started to maintain price at (roughly) 0.015 all the way up as BTC increased masively. It meant we increased in value in USD terms hugely - to an ATH level. Right now I wish we were maintaining USD levels as BTC drops, but we cannot have it both ways! It does mean BTC up, both up, but conversely is seems BTC down, XMR down. We're looking pegged to BTC, so we no longer have that hedge position of inversely related moves we used to have. It's probably XMR now being in the top 3 or 4 alts - we are now more subject to crypto market sentiment overall. It may change, but it is a distinct realignment for now. Maybe is is because XMR has grown up. |
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That ask side is looking pretty big and growing. What does that indicate?
So basically someone or something is keeping us from going up. This right? Not necessarily that - just buyers who grabbed coins at sub 820 offering them for sale over 890. Can't blame 'em. |
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That ask side is looking pretty big and growing. What does that indicate?
I think we were allowed to pop up to 888-ish, but any more will be tough right now. If Tzupy is right there is one more leg down due in the next couple of days, and he's called it pretty well so far. I have no crystal ball - but this rise feels a little more like a fluctuation than a trend reversal. |
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I'm sorry, but what is Monero besides an anonymous (which BTC/LTC will be anyways) pump and dump manipulated scheme by only the darknet markets and poloniex? Something like 1% of DNM vendors accept monero.... no one uses it.. and no one NEEDS it.
Another fairy dust coin people are just gambling on. It's OK to gamble on P&Ds but, i mean, I can see monero going away soon...
Er... BTC and LTC are NOT anonymous, Monero is. It's sort of why Monero is up over 2000% this year and staying up. So, perhaps do some research before you post moronic rubbish and you might get a better reception here. LTC? Really? And BTC is the big coin, but it's not exactly er... stable. Is it. You seem a butthurt investor in out of date crypto. Find a therapist and change your spectacles, you might see the truth of how sadly misguided you are. I hope you get better soon and save yourself before it's too late. Come back when you see reality and you will be welcome. In the meantime - don't bother. By your second post of this false drivel everyone here will have ignored you. |
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OMG it was just $888 at stamp. Call in the numerologists.  After that it went one better by going to $888.8 The Chinese love the number 8 because it's a lucky number for them. We kept returning to $666 for a long time, and the Chinese might keep us returning to $888 for a while. Maybe the same will happen when it hits $8888. Maybe that is why the dump started around 8888 CNY |
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What if its not being borrowed. What if I (or we) can put in $500mil - and this shot in the arm brings in another $20mil new money on the back of it. The $500mil is then liquidated - taking with it (lets say) $10 mil of the money that was put in extra on the crest of the wave.
$10mil in a week isn't bad going - even for someone with $500mil in the bank.
I think maybe that this is how this market is going - purely because the market cap is low.
Follow the log.
No - follow the shoe! |
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Support broken. Looks like we are in the middle of the second leg down of A.
Critical support broken, confirms we were in the middle. Bottom should be around 5000 CNY. China won't drop right now, so either the last small part of the dump is truncated, or delayed for several hours. 5000 CNY would have been a bear's wet dream.  I never margin trade, but this is a moment I would expect some smart types to go long. You still think we have further to go down? I am not criticising - given your recent prescience, I am asking. |
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On stamp a 400 BTC buy will put us up over 950...
Once this dump turns, it will spike up fast. Never a dull moment, eh Honeybadger?
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Couldn't see this posted already: Officials from the People's Bank of China (PBOC) met with representatives of major bitcoin exchanges this week to urge their compliance with "relevant laws and regulations", according to statements from the central bank.
In total, two press releases were issued today, one by the PBOC's office in Beijing, the other by its Shanghai regional office, in which they revealed the meetings, as well as some information about what was discussed behind closed doors. http://www.coindesk.com/chinas-central-bank-issues-warnings-major-bitcoin-exchanges/It doesn't sound like a ban - just 'caveat emptor' (buyer beware). So 'China ban' is pure FUD |
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This is the W bottom....
If the last dip candle finishes inside the B band, and then is confirmed with strength (volume and green) - the theory says from here it's UP
Fingers crossed!
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Jeeez - he says 'Fuck off' about 8 times in a row at one point. He is a dislikeable, nasty man and his dissembling and avoidance of obvious questions (PGP key, proof of the coins being his etc.) AFTER he CLAIMED to be Satoshi is simply risible. If that is Satoshi, I am Queen Elizabeth II. |
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Next few hours will be critical for the price going up or down, so far it's looking good but the situation could change quickly. Been holding since 800 USD so not much of a loss for me either way. It's either back to around 1100 or back down to the mid 900s or lower.
It'll be up for now - no one will dump big until the bids fill in. |
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Looks like the train is pulling out of the station again! I can hear the whistle China over 7000 - spam on network... spike coming, but tread carefully in case of a possible second dump? That's fine too, but if there's a second dump I hope it waits until my fiat hits Kraken  Hey, things happen fast 'round these parts.... But good luck! |
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Looks like the train is pulling out of the station again! I can hear the whistle China over 7000 - spam on network... spike coming, but tread carefully in case of a possible second dump? |
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Chicken TA is not as good as Dino TA. And here is a Bolinger Band Brontosaurus. Very rare....  |
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