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I think this is a wonderful idea, but seems that my friends (non-bitcoiners) who receive these, are not actively putting them into use.
What is the reason that finally as using Bitcoin is as easy as using FB, no more people spread the word?
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rpietila has commented several times about the massive amounts of XMR he controls. I've seen estimates as high as 10% of the current supply. I don't think its that high but its high enough that the XMR devs told him he needs to down play his holdings and influence on the market. How well does that sit with you? I don't think devs should have any say over what some says or does with their coins.
Sorry when did we say that? Citation, please. Also if you have "seen" estimates of anyone, not just me, owning 300,000+ monero, I'd be interested in the link  |
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The picture omitted the important fact that I buy up all the coins every day, and the fraud will be perpetuated as long as I have money. Request addition.  |
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I am open to use some of my time to answer questions.
I have a couple of questions related to this thread. 1. What is your opinion on Monero botnet issue? Apparently, the coin is largely botnet mined to be dumped on the exchange? 2. Is that really posting you on Polo trollbox? 1. I don't know anything about mining and cannot comment on that. 2. Yes. (If it sounds weird, it is due to the venue being "trollbox") |
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I am open to use some of my time to answer questions.
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I hope it is truly not the dirty fiat dollars that lead him to share his opinion in the way that he does.
I have been thinking that it has to be the clean, freshly made fiat dollars, but then again I don't know... In my country, professors are paid by the government and that's pretty much all you need to know. |
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I've spent too long in Poloniex trollbox. There chat is easy because people want to be funny. I just did not feel any connection to you, tried to be funny, but appeared upset instead. Life goes on. I did not even remember that we actually have a collection of photos from the recent Summer Retreat. |
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Try to raise the level of discussion, otherwise the delete-button will start to glow red.
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Sorry I was sarcastic in my answer. I know the place is so marvellous. I want only the real deal coming there, the people who actually want it. But it does not mean I have the right to be nasty to you just because you want to publish old pictures from the rooms that are not in use, and question me about things I don't feel are important. So sorry. Btw. as for the tickets, they are now as cheap as they get! |
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Let's go back to Economics. Monero is approaching a great milestone - ATH marketcap! At 3.05 million coins, a 0.00433 BTC/XMR daily average is needed to beat the previous high from June  |
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Some of the working strategies include:
- market making (holding both multiple buy and sell orders spaced around the current price) to capture volatility
- buy ladder (having multiple buy orders somewhat apart from each other and periodically delete the lowest and put a new one on top of the highest one)
- in a downtrend, put a small bid in front of every large existing bid, waiting for a dump
- in an uptrend, try to keep your very small order on top of the bids
- in an uptrend, market buy, especially if there is a sell wall nearby so that you can secure a large amount
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Man, that was a pretty big buy for XMR that just took us over .004 (temporarily).
I've watched this before and this is getting more and more common - Buy orders for 50BTC or so.
I've been certain of this for a while now, BIG money (relative to the crypto space anyway) is continually moving into Monero.
There doesn't seem to be any large walls right below for support though. I wonder why the buyer didn't try that first to get filled, instead
of spiking the price up?
Its about sharing
If they put up a large buy order (wall) others would just bid above it, making the price rise and leaving no XMR in their pocket. If someone is genuinely trying to accumulate, not manipulate the price, it seems risky to place a huge order like that. Hence the big market order. In an uptrend, market order is the only way to secure the goods. (In a downtrend, it often makes sense to either put walls to induce others to dump on them, or nibble at the highest bid.) |
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Very little point in arguing with a person who overrides my facts with his own, and when I make them a basis of my further argument, he accuses me of being wrong based on that his own "facts" were wrong. LOL I hope such people do not buy Monero. At least not for cheap. |
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If volume is lower and lower in a capitulation, it is a sign of a lack of sellers.
(Buyers are patently lacking, otherwise we were not in a downtrend at all..)
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I don't think we'll go lower than $450 again, but I definitely don't think we will be at a much higher price in a few week/months either. The Bitlicense is a very problematic business, until that is not resolved we can't go anywhere (as somebody said, "it could crush the business"). Also, the Winklevoss ETF must be approved first too I'm afraid. Oh please - the Winklevoss etf is 18 months old news, and during this time BTC is up an order of magnitude. Bitlicence tells that regulators' pants are wet when facing an innovation that could put them out of business. If you care, set your business up somewhere else except NY (the place has 0.3% of world population after all). If you don't care, switch to Monero. |
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...
The escrow would auto-close the positions, and could hold some of the aggregate escrowed BTC in the exchange. (Auto-closing would happen in exchange, not OTC). If the auto-close does not happen as expected, the loss would be on the escrow who failed it. They are naturally getting compensated for their service, so it is not an all-lose proposition.
I believe it can be done with mature and liquid coins such as XMR and LTC, quite easily. With volatile coins, the BTC guarantee just needs to be that much higher.
The escrowed XBT are kept in the exchange where a market order to buy XMR is triggered when 115% is reached. If the slippage plus commission is less than 15% then it would work. This also assumes the exchange does not temporarily stop trading as a "circuit breaker" on the market. Black Monday in stocks, October 19, 1987, comes to mind here. A sharp fall or rise triggered by a cascade of margin calls. More recently this type of spike has been seen with XBT on BTC-E for the same reason. Some risk to the lender still remains. This risk can be mitigated, but not eliminated entirely. Yes, you are right. A short (theoretically) has unlimited downside, and it is of course not possible to have unlimited guarantees. This can be mitigated with higher guarantees when the coin has a history or anticipated future of quick upside moves. Also it is possible to just vest some of the risk to the lender, such as a stipulation that if the coin moves up more than 50% in 24 hours, then the excess gains are kept by the service. |
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Monero will possibly be the thing that ushers in the Mark of the Beast, because it truly is an unconfiscable asset. That people opt out from the ultimate total enslavement plan of the world government, and happily use Moneros, pisses the controllers so much in the eye, that they actually manage to enact death penalty for all who would like to live their lives happily without their lame mark of the beast. Read the rest of the story in Revelation: beautiful heroines, last-minute saves and surprising plot twists... |
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How low do you think it will go, and why is it "worse"? Do you believe that BTC economy can be quenched merely by taking price lower? There was a growing BTC economy in 2012 at the average price of $10 if you don't remember... Now instead of 10000s, we have about 1 million owners of BTC and everything is much more solid.
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I am not so sure. If XMR/XBT decides to spike during a XBT/USD bull market that way that LTC, NMC and even PPC spiked in the past this kind of thing can blow up real fast, not just for the short seller / borrower but also for the lender. I would be more the buyer of the shorted XMR who then takes delivery and waits for the whole short position to blow up.
Edit: Something about this reminds me of early 2012 when I was buying and taking delivery of XBT, while pirateat40 was busy building his massive XBT short position.
What do you think is problematic in the following scheme: - OTC market where people can list bids and asks for altcoin loans (maturity; sum; interest) - When match is made, the escrow takes full guarantee (typically 150% of the loan in BTC) - The altcoin is transferred from the lender's wallet to the borrower (that typically sells it) - Margin call when margin is less than 30%, forced liquidation at 15% (by the escrow) - At maturity, the borrower must have bought back the altcoin, return it with interest, and gets the escrowed BTC back. With say margin call at 130%. In a sharply rising market first finding a willing seller of XMR and then even transferring the XBT to the seller before the position drops to 100% then 90%, 80% etc. In short the lender of the XMR could end up having to panic buy ending up with the position closed at a loss in XMR and an un-collectible debt. The logistics of this can also be significant. For example even waiting for the required XBT confirmations in a fast moving market. The escrow would auto-close the positions, and could hold some of the aggregate escrowed BTC in the exchange. (Auto-closing would happen in exchange, not OTC). If the auto-close does not happen as expected, the loss would be on the escrow who failed it. They are naturally getting compensated for their service, so it is not an all-lose proposition. I believe it can be done with mature and liquid coins such as XMR and LTC, quite easily. With volatile coins, the BTC guarantee just needs to be that much higher. |
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