Any opinions on if there is a bitcoin pump around the halving if Monero will be pegged to bitcoin or fiat?
If BTC rally all alts will lose value compared to BTC. After few weeks when new people come in crypto most alts will start getting value back or even improve it. Pretty much agree. Also I really find almost impossible the halving pump to happen. When everyone expects something it doesn´t happen. Edit: It seems we all agree on that topic... maybe we are groupthinking too much?? If you count everybody who says that "everybody expects bitcoin to pump so it won't happen" there's actually quite a few. So not everybody expect bitcoin to pump and that's why it will happen  But maybe the pump won't be as big... In any case as long as bitcoin goes up now I think XMR is headed sub 0.002 again. So easy to spot those who have sold and are egging others on to do so. The truth is no one here knows what will happen if btc bubbles again. Last time it happened in 2013 litecoin hit 45$. If you like monero for it's merits then it is up to you to decide whether you should buy any. Asking for advice on here is not likely to achieve anything other than revealing a few vocal posters current positions. |
|
|
|
|
Shorts ticking up. Now 16500 on finex. Longs 26m.
50:50 on the direction
|
|
|
|
|
The price is flatlining at 425 in this huge flag. Meanwhile the typically popular fora are deathly quiet echo chambers. Where is the new money to drive the next bubble?
|
|
|
|
With this dead cat bounce, where do we end up, 100k?
I don't think it will go that low, but anything is possible. I sure as hell wouldn't buy anything above .002 atm If ur sure as hell go all in and short xmr then thats a 100% guaranteed profit Or are you just trying to buy more under 200k.... Good luck lol Not wanting to buy is much different than going margin short on something. Of course I sold XMR already, it was way over priced. So in a way, I am short, just not on margin. So you sold your coins and are predicting lower prices.. Ummmmmm.. yea. That's a very astute observation.  Why would anyone sell an asset if they thought the price was going up? It is called talking your book. Upon selling your monero any further predictions you make are suspect as we know you stand to benefit if the price falls lower. Furthermore any valuation you suggest for monero is also worthless.  |
|
|
|
With this dead cat bounce, where do we end up, 100k?
I don't think it will go that low, but anything is possible. I sure as hell wouldn't buy anything above .002 atm If ur sure as hell go all in and short xmr then thats a 100% guaranteed profit Or are you just trying to buy more under 200k.... Good luck lol Not wanting to buy is much different than going margin short on something. Of course I sold XMR already, it was way over priced. So in a way, I am short, just not on margin. So you sold your coins and are predicting lower prices.. |
|
|
|
And anytime BillyJoeAllen posts about a supposed "block size armageddon", all you need to do is post this as reply: It doesn't matter what % of blocks are full you stupid fucks. All that matters is what the average transaction fee is. Since there is no minimum transaction fee, the blocks are basically designed to be full at all times eventually even if you set it to 100MB blocks. Segwit + hard fork in 2017 = 3.2MB blocks. Then schnorr multisig on top of that should lower transaction sizes and increase TPS further.
IQ's dropped sharply round here it seems. Anyone suggesting blocks being full is not a problem and those raising it are 'stupid fucks' is being naive in the extreme. Focusing on the transaction fee is absolutely irrelevant. If my transaction won't confirm because transaction fees have risen by 2c from my last transaction - due to full blocks and rising network demand - stating the transaction fee average is low isn't much use to me because bitcoin isn't working as a payment system. For bitcoin to succeed as a base payment ledger for the internet it needs to be functional and work for end users. You know, the guys who actually give it value. There is a lot of melodrama in this debate. But the minute bitcoin becomes persistently unreliable as a payment network with no realistic proposition of resolution and alternative chains or payment media which do not suffer the same problems, then it's market cap will take a dive of epic proportions. |
|
|
|
|
Too much noise on this thread.
Price double bounced off 0.002. Some buying pressure here.
|
|
|
|
I told you guys a month or so ago, that XMR had broken out against BTC and that it wouldn't make lower lows w.r.t. to BTC, but you needed to sell some because the market is going to be incredibly volatile and bear market directed until later this year or Q1 2017.
I explained the reason in my prior post, if you click off to read the detailed post, you will learn something.
No one listens to me even though I am nearly always correct on the markets. How many examples would you need. I called the first top in ETH, then the overall top in March before others did. I called the rise of silver from $25 to $48 and decline to $26 on Oct 2010 many months before it occurred. I called various moves in Bitcoin such as predicting on this forums last April or May that Bitcoin would rally to $320 then decline.
So, it sounds like you are criticising everyone else for not trading based on your calls, when you didn't trade based on your calls. Correct? He posted a thread about free money and shorting bitcoin. The price doubled. |
|
|
|
Whale still trying to push the price down..
I dont think its as much whale manipulation as people make it out to be. I think people are making assumptions about impending price action based on prior performance and positioning themselves accordingly. Big seller using ask walls to try and guide the price downwards.. |
|
|
|
|
Whale still trying to push the price down..
|
|
|
|
Now lets see who makes the first big buy, support building at 0.002.
I am sorry I cannot do that but if you want to do it obviously you are free to do so. The trend broke too badly. It is time to go down and rest a little bit (some months) and probably go its long term resting state value of 0.001. Easy to see who sold here.. |
|
|
|
|
Now lets see who makes the first big buy, support building at 0.002.
|
|
|
|
|
This is amusing. Way over sold now. If it retraces much further then XMR is a dodo.
|
|
|
|
The market seems to have crashed very quickly and hard. I think monero is especially vulnerable because many hold their coins on the exchange due to lack of GUI wallet. It's a lot easier to panic sell when all you have to do is click a sell button. Having to actually open a cold storage and transfer the funds will make you think twice and result in less dumping overall.
Users who can't run a commando line wallet will probably be less confident in the investment because holding often means keeping funds with third party, and that is risky. Additionally they may lack understanding of the technology. These two things makes them more eager to sell and with easily accessible funds it can contribute to a pretty violent crash like we're seeing right now. It can explain why monero keeps seeing dump after dump, seemingly never ending. The coin is just so damn easy to sell.
Unfortunately we failed pretty hard at breaking 0.0043 a second time, with current low today at 0.00242. This crash wasn't very surprising and despite what has been claimed in this thread earlier (that everyone who sell moneroj regrets it) I'd suspect there are a few people who actually regret not having sold some in the 300k-400k. I personally sold 50% of my coins about 2 weeks ago and wish I sold more. But on the other hand the coins I do own is mostly profit so I can afford the price going both down and up, I'm pretty comfortable with this I'd say.
We could see a bounce up again to maybe ~300k, but the trend is broken now imo. We're probably headed sub 0.002. I am having doubts about 0.001, but it certainly could happen given the right circumstances (e.g btc rally). I consider 100k-200k a good buying range. If we go back to the 300ks I'll have to consider selling a few more.
Altcoins usually deflate over a long period of time. What's known as the "long, painful, downward spiral". So a quick crash like this could also have a quick rebound. But if the trend is broken and we consistently fail to gain new highs it will slowly sink downwards. Monero may be an exception to this rule and have more violent crashes due to the reasons I outlined above.
All this being said, the difference between 2015 and 2016 is striking and we have a lot of new people on board. I tend to think it won't be as bad as the previous times we headed down and that recovery will come sooner than we'd think.
Well at least you are honest about talking your book. |
|
|
|
~50% retrace of the rally & some significant support, maybe we'll see a bounce. If we are going to see new ATH any time soon then bulls should protect this levels. Else we will move to the next range 0.0016-0.0022.
edit: Many people are not afraid and saying that their average is ~0.002, maybe we need to see more pain and shake those people out?
Shaking out people who bough at 0.001 would be even better so lets wait for an all time low Ha. Why not shake out everyone? |
|
|
|
|
Time to add more xmr thanks dumpers.
Edit: what I see looking in from btc is a manipulative dump with some follow through selling to paint the chart as if the price is heading back to 0.001. Hopefully I can pickup a few 10k more if it slides down further. What a thin market this is.
Despite alts dumping btc hasn't budged. It will break down or up soon (order by my assessment of direction) and then things get interesting. ALTs are probably going to have a tough time unless btc moons. Time to begin accumulating if you believe in the XMR chain.
|
|
|
|
Train just derailed. We went up for some time, now it's time to go down for some time. I will hopefully buy back ~0.002.
I don't think so. Just a very badly disguised manipulative dump. Hang on did I say disguised? Lol. I will continue to buy my monero. Bitcoin looks about to roll over anyway. |
|
|
|
|
Nice post. Anyone with any time in the markets knows the market rarely prices things 'in' as efficiently as economists would have us believe.
One small point. The halving reduces coin emission by 50% and reduces the cost of maintaining the network (block subsidy to miners) by half costed in bitcoin.
It isn't quite as simple as you suggest that miners will starve the market to reduce supply and drive up bitcoin unit costs. Over the longer term reduced supply makes a huge difference (favouring a rise in price, demand staying equal).
But markets and prices are set by not just (increasingly insignificant) mining emission, but by the float of bitcoin's on exchanges and overall supply:demand. I hope bitcoin bubbles up again soon (in spite of significant development concerns), but the price could easily crash if speculators decide to sell instead over the shorter term.
Here's hoping for a summer mania.
|
|
|
|
Oh wow, massive XMR short opened just now. XMR lending dropped by 30k - 40k at least, maybe more.
Nice spot. Alts dumped across the board, it looks like. Tempted to buy 20-30k. Hate shorters. |
|
|
|
Watching walls is a fool's gambit. But they are looking awfully bullish right now |
|
|
|
|
Show Posts
