 Show Posts
|
|
Pages: « 1 2 [3] 4 »
|
@Hyjinx - Lots of people dumped. Not the Tokyo Whale. But it does look like the dump is mostly over.
I thought the dump was mostly over? What happened? |
|
|
|
Looks like trust is not fully back in NEM or the hacker managed to dump more coins yesterday and today.
I'm still full bull on NEM, but this long price slump is hard on everybody.
How many NEM was held by this hacker? If he can easily dump it to lower the price so much, how can NEM recover when people are worried about future dump all the time? The hacker stole 10% of the entire XEM supply which was worth about $500,000,000 at the time. He has only managed to sell about 40% so this is going to be a problem for a very long time. You can see the effect of the past hacks playing out right now in Bitcoin (Mt. Gox trustee still has 160,000 to sell). It isn't that much vs. the entire market especially over time but in a bear market that is all the news needed to panic sell. Although I would argue that BTC is being driven down in price by a very big player with a very big short. If one watches GDAX order book it is very clear there is an endless sell bot the bulls have been trying to buy in the 8-10K range for the last 1.5 weeks but they simply don't have enough money for him anymore. So we're probably going down. Isn't really a bear market but an asshole market right now. |
|
|
|
|
I'm waiting for $0.20 which I don't think is that far off if Bitcoin can't hold 8K. Hell, if Bitcoin can't hold 8K then we are all going to goblin town anyway where XEM will be about $0.05. For the record I bought at $0.55 because I assumed, wrongly that XEM would retain at least some of its gains from the Alt coin bubble. Haha, what a shitcoin. Hard to deny that Lon fucked up hard.
|
|
|
|
|
Lon Wong fucked up big-time with the tainting and tracking. We all would have been much better off if the hacker just dumped the coins. Sure, market would have tanked but at least everyone who believes in the project could have stacked up and given others the opportunity to get in cheap. Let the market work. Instead Lon went ahead and decided it was better to call the fungability of XEM into question and demonstrate how they could selectively bar people from using/spending XEM. This simply has no place in crypto which is designed to be first-and-foremost decentralized and censorship-resistant - no matter how "unethical" one might perceive the actions of others. On top of all this the FUDing of all the exchanges for weeks making trading impossible and making everyone who bought way too high into fucking baghodlers. Fuck him. Simply the biggest mishandling of anything I've ever seen, so sad and so destructive. Lon should resign and turn NEM Foundation over to someone more competent.
|
|
|
|
|
How the hell is NEM down 7% today when every other coin is green by at least 1-2%? Why is this thing such a shitcoin?
|
|
|
|
So who sold off from $9800 to sub-9K today? We are in a bear market and this has very little to do with Mt. Gox. Bitcoin, NEM, everything is going much lower. I just hope $0.18 holds.
The Tokyo Whale did. He keeps dumping at around 10k. If you actually follow the market, you will see there is strong growth, everything is bullish, lots of volume from lots of traders, then WHAM! The whale takes a dump. Lots of volume from a single trader. You are a troll that posts stupid doom and gloom posts everywhere. Copy + pasting yourself into different mediums. I'm actually starting to wonder if you have TBI, Traumatic Brain Injury. It's as if you've worked a long professional career as a hammer. I have an idea of a great coin you can start! Call it Hammer with (TBI) ticker!  The price won't fluctuate, since you'll own it all! You can even start a forum just for yourself, where no thinkers are allowed! I do have screenshots of your predictions. Maybe from now on I will just start responding to you with things you've said previously. So who's dumping today? |
|
|
|
@fragout, it's pretty common knowledge now that the Tokyo Whale has been dumping. He had 1.9 billion dollars remaining that he could sell. Now it's estimated he has about 1.7 billion left, if he continues to try to get around $10k each. If you pull up a BTC price chart for the past week or so, you can clearly see each time he dumped. He already sold enough to pay off creditors. The proceeds now go to MtGOX owners.  There is a court date scheduled sometime in September. Some people speculate that he won't sell more until then, but there is no legal binding preventing him from doing so. Yes, OTC sale would be better for everyone, and they would likely fetch a better price, as bulk BTC usually costs more than market rate. It's likely they just wanted some fast cash. / And/Or crash the price so friends could buy it up. Here is one of many articles: https://www.ccn.com/bitcoin-drops-8300-mt-gox-trustee-sell-off-continues-market-drops/@easyrimka, the lastest big news is the reopening of Coincheck, and the repayment for stolen XEM.  So who sold off from $9800 to sub-9K today? We are in a bear market and this has very little to do with Mt. Gox. Bitcoin, NEM, everything is going much lower. I just hope $0.18 holds. |
|
|
|
NEM Wallets:
All exchanges still have their NEM wallet offline. Cryptopia shows theirs as online, but it is not. NEM foundation still quiet.
NEM living up to it's reputation. No champagne, caviar, or anticipated news. Just hard work and quiet encouragement.
NEM Prices Update:
Japan leads the way with bullish trading, trying to overcome global bearish sentiment. Zaif Exchange XEM prices often plow ahead of other exchanges by as much as 6 cents before meeting resistance.
Cryptopia the slowest to respond to price changes, allowing for great buying opportunities.
Rumors of Binance to offer NEM arise once again, giving slight boost. However this is unlikely to happen until NEM wallets come back online.
Bitcoin Price Update:
"Tokyo Whale" dumping BTC on the market is the main contributing factor to BTC price drop.
Binance trade bot dumps alt coin, causing rumors that they were hacked, leading to panic sells. - They were not hacked, and the malicious trade bot issue was resolved very quickly, with all unauthorized trades revoked.
SEC statement least of anyone's worries right now.
What kind of happy pills are you on? You do realize BTC is in a bear market which means all cryptos including XEM are done for a while. Do you live in a bubble? You really think radio silence from Lon Wong is something to be applauded as everyone that would like to dump their XEM before BTC shits the bed can't? |
|
|
|
Developers must take focus on adding features to NEM . CEO should look into different types of marketing strategy to make a great rebound . At the ath $1.50 now down to $.35 while BTC is still on a roll, NEM must rely on this momentum and convince investors that Catapult is one great product NEM has come up with.
BTC is about to crash and burn which will take XEM to even lower lows. Lon Wong (the CEO) is a shithead who took XEM and blew it the fuck up with his senseless FUDing of exchanges with their tainting. We all get to suffer 2x now - normal market crash + his idiocy. Days since ATH and percentage drop since then. Bitcoin: 79 days, 45% Ethereum: 51, 42% Ripple: 61, 76% Bitcoin Cash: 76, 72% Litecoin: 77, 46% Cardano: 61, 78% NEO: 49, 45% Stellar: 61, 63% Monero: 58, 28% EOS: 52, 59% IOTA: 76, 70% DASH: 76, 65% NEM: 61, 84% While NEM has indeed fallen 2x more than the btc, eth, litecoin. Its not as bad when you compare to some of the other top Alts. Of course the theft was going to have an increased effect on any downswing, but if there is to be a recovery, NEM has the biggest potential gains to be had This is interesting. I guess the NEM hack was a big event indeed when it comes to affecting the price. Wonder what the next catalyst for an upward price movement might be. Perhaps the release of Catapult? Other projects built on NEM? XEM is fucked for a long time. Without a general market recovery (led by BTC) there is no hope for a sustained rebound that wouldn't be sold off by hungry baghodlers. Even if there is a BTC led recovery the Alts won't move or bleed more anyway as BTC drains whatever is left. In markets like this news just doesn't matter because no one is paying attention anyway - at least not in the numbers necessary to lift the price and sustain it. |
|
|
|
BTC is about to crash and burn which will take XEM to even lower lows. Lon Wong (the CEO) is a shithead who took XEM and blew it the fuck up with his senseless FUDing of exchanges with their tainting. We all get to suffer 2x now - normal market crash + his idiocy.
You're the same troll from reddit. Idk why you copy+paste your feelings everywhere. The hack was the fault of Coincheck, the exchange that held XEM in an insecure wallet. NEM / Lon Wong didn't have to help track the stolen funds. This is extra commitment on their/his part. The "tainting" is a simple Mosaic that helps us track the funds. It's not a contagious disease. If coinpayments.net CEO hadn't been allowing the hacker to launder the tainted funds through their system, it would have been much more difficult for the hacker to dump so much XEM in the markets. But it is what it is. Consider it a redistribution of wealth. Now we just enjoy the low prices while we can, and continue to close in on the hacker. There is a lot of great things going for NEM right now! -Exchanges have reactivated XEM trading. -New wallet with extra features released. -Lot of events/meetups scheduled to bring attention to NEM. -Nearly everyday one can learn of new projects planned to utilize NEM blockchain. -Polls ongoing / NEM entering new markets. -Catapult will be released soon. -Charts show nice little waves now. Price holding steady above 3k sats. -Japanese crypto markets starting to become more active again. -Coincheck allowing JPY withdrawals for the stolen XEM, at more than double the current market price! (about 88 cents) Anyone with stolen XEM can now rebuy double the amount they had stolen. I think it's all up from here. If you consider everything that has gone on and is taking place now, you'd realize that without a cataclysmic event, the situation really couldn't get much worse. I forsee some serious money hitting the XEM market. Possibly doubling the price overnight. It is currently way undervalued. LOL! So is it all up from here? Really? |
|
|
|
Developers must take focus on adding features to NEM . CEO should look into different types of marketing strategy to make a great rebound . At the ath $1.50 now down to $.35 while BTC is still on a roll, NEM must rely on this momentum and convince investors that Catapult is one great product NEM has come up with.
BTC is about to crash and burn which will take XEM to even lower lows. Lon Wong (the CEO) is a shithead who took XEM and blew it the fuck up with his senseless FUDing of exchanges with their tainting. We all get to suffer 2x now - normal market crash + his idiocy. |
|
|
|
To me, it looks as if a bank gets robbed of millions of dollars, we discuss the worth of dollars ? !
Chill out, guys and girls !
the scope is different the theft that happend would be like USA england france amd germany got their national bank funds stolen the same time that would have impact on worldwide economy too but still no need to panic after rain always follow sunshine LOL, no. What is going to happen now is BTC is going to start it's run once it gets through 11.8 K. All Alts are going to get the shit beat out of them, including XEM which can't take much more. |
|
|
|
NEM isn't done tanking yet. Don't buy now. I'm under water since last month as well. Thought $0.55 was a fair price but didn't account for the incompetence of Lon Wong. The guy is a disaster.
just to understand better...how do you know this? Can you tell us more about the incompetence of Lon Wong? what right now he's doing so wrong? What price will be a good price to buy? When will the storm be over? The dump isn't over because the exchange Huobi still hasn't allowed deposits yet - once they open there doors NEM isn't going to be $0.45 anymore over there. If BTC takes off from here all alts are going to bleed anyway so then the people that are still holding XEM and have already taken a large hit are going to see that as a painful opportunity cost and dump some more. If BTC corrects to 6K again then everything is going down hard. Basically BTC has to sit still or creep up to give XEM any chance to recover and this would have to be a substantial period - not the style of BTC as of late. Lon Wong made a terrible decision in tainting wallets and individual coins. He basically demonstrated that XEM is not fungibile and the Foundation will intervene at any time in situations they do not consider ethical. This is not their place because with a true currency people should be able to acquire it and dispose of it however they see fit - NEM Foundation isn't the proper authority to be governing this. This is a law enforcement matter and while I would agree with NEM Foundation cooperating with an investigation they shouldn't try to be the law. It gives the impression that if they don't agree with a project or business using XEM they could start throwing up roadblocks on those wallets and/or tokens that pass through them. It is a slippery slope and anti-crypto in many ways. The coins were tainted because they were stolen. Its a bit of a leap to compare that to intervening in unethical situations or throwing up roadblocks on projects they don't agree with. The tainted coins are obviously still being traded. Its similar in my view to inking stolen cash from a bank. Other coins have succumbed to pressure and forked after similar losses. I think they deserved at lot of praise for not going down this route. Sure the coin is going to lose value during this phase but we all knew that when the theft occurred and could have sold and bought back at the bottom. No point in bitching after the fact Yes there is a point. So every single time XEM gets stolen in a project that could last decades with a finite supply of coins there will be new tainted coins in circulation? What kind of idiocy is that? In theory 100% of the circulating supply could become tainted. Who decides when to untaint and "you're legit." See the problem? |
|
|
|
NEM isn't done tanking yet. Don't buy now. I'm under water since last month as well. Thought $0.55 was a fair price but didn't account for the incompetence of Lon Wong. The guy is a disaster.
just to understand better...how do you know this? Can you tell us more about the incompetence of Lon Wong? what right now he's doing so wrong? What price will be a good price to buy? When will the storm be over? The dump isn't over because the exchange Huobi still hasn't allowed deposits yet - once they open there doors NEM isn't going to be $0.45 anymore over there. If BTC takes off from here all alts are going to bleed anyway so then the people that are still holding XEM and have already taken a large hit are going to see that as a painful opportunity cost and dump some more. If BTC corrects to 6K again then everything is going down hard. Basically BTC has to sit still or creep up to give XEM any chance to recover and this would have to be a substantial period - not the style of BTC as of late. Lon Wong made a terrible decision in tainting wallets and individual coins. He basically demonstrated that XEM is not fungibile and the Foundation will intervene at any time in situations they do not consider ethical. This is not their place because with a true currency people should be able to acquire it and dispose of it however they see fit - NEM Foundation isn't the proper authority to be governing this. This is a law enforcement matter and while I would agree with NEM Foundation cooperating with an investigation they shouldn't try to be the law. It gives the impression that if they don't agree with a project or business using XEM they could start throwing up roadblocks on those wallets and/or tokens that pass through them. It is a slippery slope and anti-crypto in many ways. Hard to say when it will be a good time to buy again because that depends a lot on the overall health of the market. Given the Huobi situation most likely not now. I would be looking around $0.25 - $0.28 and consider it there to cost average down my stack. I would only start there though. Depending on BTC the bottom could be something like $0.16 based on what XEM was doing in the Sept - Nov period of 2017. |
|
|
|
Hahahahah and final FUD has started as i see from some of the above posts. It will be huge pain in these asses, when XEM after final dump and accumulation in area 10-30cents will build new cykle of bubble, like it did it before. So i am prepared now to accumulate cheap XEMs from this loosers (they have dumped with huge losses and they produce now their FUD on XEM). They will never understand that best time to buy is when the blood is on the street, and sell time is when growth of price is vertical. Please give here now more FUD, the cheaper XEM - the better.
Oh I'm holding just fine and will even double my stack at the right price. I believe in the project in the long-term but that is no reason to excuse the complete incompetence of Lon Wong. It is miserable that things are where they are with this project; nothing but bad management. There is only "blood on the street" because Lon Wong is an idiot. No one takes a newbie account seriously. Especially since your first 6 posts are NEM / Lon bashing. Your points might very well be valid but why hide behind a sockpuppet account to make them ?? I honestly don't care if you take me seriously or not. I've been interested in this project for a good long while and the bad management is very frustrating. I don't have time to sit around and comment on speculative investments all day but Lon really pisses me off. Just terrible management of this hack and the worst precedent you could set for a pre-mined coin. Gives 0 confidence in the fungibility of NEM. And no I didn't buy black market XEM - but even if I did it shouldn't be my problem. Do people go to jail automatically if they somehow acquire "black market" dollars from a bank robbery where they had no involvement whatsoever? The dump should have been allowed to play out instead of this half-assed intervention which accomplished absolutely nothing good and did way more damage than necessary. Take Coincheck's problem and make it NEMs problem - not smart at all. |
|
|
|
Hahahahah and final FUD has started as i see from some of the above posts. It will be huge pain in these asses, when XEM after final dump and accumulation in area 10-30cents will build new cykle of bubble, like it did it before. So i am prepared now to accumulate cheap XEMs from this loosers (they have dumped with huge losses and they produce now their FUD on XEM). They will never understand that best time to buy is when the blood is on the street, and sell time is when growth of price is vertical. Please give here now more FUD, the cheaper XEM - the better.
Oh I'm holding just fine and will even double my stack at the right price. I believe in the project in the long-term but that is no reason to excuse the complete incompetence of Lon Wong. It is miserable that things are where they are with this project; nothing but bad management. There is only "blood on the street" because Lon Wong is an idiot. |
|
|
|
Another observation, i think nem wallets being disabled on most exchanges prevented a truly staggering free fall.
If all wallets had been operational after the hack we'd have probably witnessed the fastest and most complete fall crypto had seen up to this point. I think disabled wallets prevented a mass exodus, and let things bleed out over the last 2 months.
Problem is now, we've got nowhere else to go. We're right at the limit. Seemed to find support at .40 for awhile, but can't sustain any positive movement. I'd expect this latest downturn to go all the way to .28- .29 cents. I hope it doesn't but there's really nothing to keep it proped up at this point.
And thats not even taking into account a overall bear market trend. What if crypto as a whole loses 200b market cap again?
It would be ugly... We'd likely be back in the teens or high single digits.
If BTC revisits 6K XEM would destroy everyone aside from the earliest holders. Right now watching BTC struggle to hold 11K it all seems very possible. The only "hope" is that the "core" holders support the price up to about $0.16-$0.18 which seemed to be a sort of floor in the fall of 2017. I originally bought XEM back in Sept. 2017 for $0.30 and ended up selling it off around $0.22. To me XEM has been completely cursed. It is all a shame because it is one of the best projects in crypto but the management is absolutely incompetent. They could write a book on how to turn gold into shit. Too much Asian influence - low-key, non-communicative with absolutely no sense for selling anything. |
|
|
|
|
It is going to take a lot more than Catapult to save this shitcoin when they are so out of step with the rest of the market. Think about it: when BTC goes on its inevitable bull run all alts are going to tank hard - XEM has another down wave coming after this mega dump. When BTC levels off and/or the BTC mania finally spills over into the alts which alts will all the new money go for - the thing that completely shit the bed over the last couple of months or the "strong" coins that have been holding up reasonably well? Which will have a more appealing chart? If XEM misses the next alt mania run it is well and truly fucked.
|
|
|
|
Things are pretty ugly with no signs on the horizon of improving. We've now given up 100% of the gains from Dec and Jan. And going the wrong way fast.
I know we were bitching about how stagnant things were between Aug to Nov, but were generally trending upward in that time. It seems now we're going straight into the shitter with no signs of slowing. That hack was the worst thing to have happened. Who knows if we'll ever see $2 again. If things don't reverse it'll be a long while, if ever. We're losing a ton of market share while tmc is going upward.
When the tmc was 250b we were 2x from where we are now. Now it's 450b and we're below .35 cents.
All the charts are pointing toward the toilet..
Hopefully things change for the better.
It wasn't the hack that did it - it was this incredibly dumbass idea of tainting coins and wallets. Lon Wong is one stupid, arrogant, callous motherfucker basically. |
|
|
|
|
NEM isn't done tanking yet. Don't buy now. I'm under water since last month as well. Thought $0.55 was a fair price but didn't account for the incompetence of Lon Wong. The guy is a disaster.
|
|
|
|
|
