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I suspect that when the current BTC rise reverses, there may be more hedging inflows. I don't think the BTC/USD correction is over yet. Best support there seems to be 362-369 range.
I am deeply disappointed that the market did not take the short money. It would have been such an easy win.
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ask side went down to 236k, shot back up to 293k, now declining past 287k again. this is so fun to watch. well, i may be unusual in that regard.
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wall is massive and enormous  That's the short sellers at 280k trying to cover. We may hit 400 in the next 24 hours. Bid side up to 1000 now, ask down to 295k. |
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Quite the fight going on in the support zone (255k-265k), it is holding thus far:  Pulling asks might get you 340k, market makers. |
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I am the angel of death
The time of purification is at hand Vitalik keeps getting thinner and thinner. |
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it's weird i change the poll, and it reorders the options and drops a few, i have to fight with the thing to get the options i want.
I am sure that theymos has a solution for that in the new forum under development. (Yes, it is nostalgia week.) |
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I will answer when I have time, but for now suggest this as background on what is moneyness: Money acts as a standard measure and common denomination of trade. As a result, it is a basis for quoting and bargaining prices. It is necessary for developing efficient accounting systems, but its most important use is that it provides a method to compare the values of dissimilar objects. Money functions as: A medium of exchange A unit of account A store of value A Medium of Exchange When money is used to intermediate the exchange of goods and services, it is performing the function of a medium of exchange. It avoids the inefficiencies of a barter system, such as the dependence on the occurrence of a coincidence of wants. To be widely acceptable, a medium of exchange should have stable purchasing power. Therefore, it should possess the following characteristics: Valuation of common assets Constant utility Low cost of preservation Transportability Divisibility High market value in relation to volume and weight Recognizability Resistance to counterfeiting Gold was popular as a medium of exchange and store of value because it was inert. Gold was convenient to move because even small amounts of it had considerable value. Gold also had a constant value due to its special physical and chemical properties, which made it cherished by men. A Unit of Account A unit of account is a standard numerical unit of measurement of the market value of goods, services, and other transactions. Also known as a "measure" or "standard" of relative worth and deferred payment, a unit of account is a necessary prerequisite for the formulation of commercial agreements. To function as a unit of account, whatever is being used as money must meet these characteristics: It must be divisible into smaller units without a loss of value. For example, precious metals can be coined from bars or melted down into bars again. It must be fungible. In other words, one unit or piece must be perceived as equivalent to any other. This is why diamonds, works of art, or real estate are not suitable as money. It must have a specific weight, measure, or size in order to be verifiably countable. For instance, coins are often milled with a reeded edge, so that any removal of material from the coin (lowering its commodity value) will be easy to detect. A Store of Value To act as a store of value, money must be able to be reliably saved, stored, and retrieved. Moreover, it must be predictably usable as a medium of exchange when it is retrieved. The value of the money must also remain stable over time. Put simply, money acting as a store of value allows its owner to transfer real purchasing power from the present to the future. Some have argued that inflation, by reducing the value of money, diminishes its ability to function as a store of value. Money can also function as a "standard of deferred payment," which means that its status as a legal tender allows it to function for the discharge of debts. Source: Boundless. “Functions of Money.” Boundless Business. Boundless, 21 Feb. 2016. Retrieved 06 Mar. 2016 from https://www.boundless.com/business/textbooks/boundless-business-textbook/the-functions-of-money-and-banking-21/money-as-a-tool-123/functions-of-money-568-3194/ |
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However, I will agree on your broader point that if ETH grows sufficiently (say two orders of magnitude from where is now) then it will become the de facto blockchain platform on which everything else is built, and that will include privacy-preserving systems such as Monero.
I don't see that as a competitive advantage for ETH relative to XMR. All the things that make ETH valuable are actually impediments to fungible liquidity. At the moment XMR is benefiting from BTC hedging on fear regarding blocksize controversy, and on diversification flows from ETH profit-takers. But those effects will blow past as the events recede. The long-term value proposition of XMR is currency, and is quite unrelated to that of ETH. They just aren't comparables. ETH is a platform, not a currency -- by design is profoundly ill-suited to use as a currency. You don't buy stuff with CPU cycles. You don't keep your savings in AWS units. ETH as a platform can be used to build currencies. Currencies require, at their core, a global consensus on the distribution of the money supply, and that is the function that ETH aims to offer in a general-purpose platform. It maybe an expensive, complex, and in some ways undesirable way to do it, but it certainly can be done. If something becomes dominant enough, it will be used regardless of its structural weakness and costs. A lot of computing is still done in Windows. This is all an extreme long shot though, but since we are all about speculation here, that's a long term one with >0 probability. Can it be done? Certainly. That is a demonstration of the capability of the ETH platform. Will it be done? Probably. Lots of folks throwing stuff against the wall. Is it a threat to XMR's value proposition? Not hardly. There are other, vastly greater threats to that, in comparison to which ETH apps are negligible. |
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However, I will agree on your broader point that if ETH grows sufficiently (say two orders of magnitude from where is now) then it will become the de facto blockchain platform on which everything else is built, and that will include privacy-preserving systems such as Monero.
I don't see that as a competitive advantage for ETH relative to XMR. All the things that make ETH valuable are actually impediments to fungible liquidity. At the moment XMR is benefiting from BTC hedging on fear regarding blocksize controversy, and on diversification flows from ETH profit-takers. But those effects will blow past as the events recede. The long-term value proposition of XMR is currency, and is quite unrelated to that of ETH. They just aren't comparables. ETH is a platform, not a currency -- by design is profoundly ill-suited to use as a currency. You don't buy stuff with CPU cycles. You don't keep your savings in AWS units. |
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is monero ever going to catch up to eth, eth seems to always be like a rocket ship while xmr is making relatively slow gains.  The slower the better as far as I am concerned. Or more to the point, the less tradable volatility the better. It makes it so much easier for random people to hold, and encourages currency use, as well as reserve demand. We need more market makers as things heat up, to smooth the curve. |
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i'm canadian so i couldn't calculate the fee properly.
You're making my sides hurt dude. |
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So far the only evidence of persistent resistance is the 340k mark predicted by...who said that? Search is failing me. 300-340 ping pong for a while?
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Untrinklacable prifungibilacy. It's got rhythm.
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In 5 years you gonna love those 10 moneroj  ... I would say 2 years. Full-on capital controls in Europe, eventually the U.S., should that happen, can be (will be) seen as the violent death throes of the debt-slavery=fiat-currency central planning & tax farming system. Ain't no transparent blockchain gonna serve you then. |
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That's no parabola...that's a super-exponential!
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Testing the level for a breakout now. The next 24 hours are critical. Maybe Jaimie Dimond buying in? RealMattDamon told him to.
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Every time I think it's done, we bump a little higher. Will we see 400k this trip? Top 430k? or can moon be a real destination? I just love being well out of the red ink for a change  Distance from earth to moon is 385k. Just sayin'. 300 BTC takes us there right now. Just a tiny sliver of pizza. |
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happiness is not tied to spending
Mostly to the happiness of your spouse, I have found. I think a good spouse will encourage and enable you to be your best self, which includes making your best spending choices. |
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