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Thanks for the replies GingerAle, Debruyne. Exciting developments on their way. I'll just continue to hold my XMR and see where we end up in a year or two.
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No, I said if it goes much lower. Don't try to turn it into a petty threat. It's not a threat because no one gives a shit if I'm in or out. I'm just trying to point out that this sort of thing is a real turnoff to real, full time traders, and that liquidity and volume are going to sink back into the abyss once people get sick of it.
And if there are people with so much money in here, why aren't there matching walls to foil the manipulation? Why... because you're probably the ones doing it.
I think overall the low volatility turns traders off XMR. XMR tend not to move much. You are joking, right?  The price has risen from 0.001 to 0.0042 over a few weeks. Sure the intra day volatility isn't massive, but monero is a very thinly traded market which even I could move if I wished. There is little doubt that the chart is being painted. But dumping xmr back to 0.001 is as good as killing the coin for the foreseeable future IMO. Things could get very interesting as the bitcoin halving approaches and if we get a rally in chosen alts if bitcoin breaks out then monero could increase it's extremely modest market cap hugely. Of course if bitcoin crashes then what happens in alts could be very unpredictable, they could crater or it is possible that eth and xmr could rise if bitcoin gets into perceived existential trouble amongst more holders with regards to the intransigence displayed by the developers over scaling efforts. Things I would like to see are 1) working cross platform GUI, 2) increased number of nodes and hashing power protecting the chain, 3) some increased use cases appearing (even some DNM usage wouldn't be a bad thing IMO). |
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Finex lending rates looking interesting.. 0.09% for shorters. 16K contracts borrowed. Volatility cometh. edit: i'm legendary!  |
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Those who saved their money in Bitcoin from $1 to $8 and then stopped because they didn't want to be 'overweight in Bitcoin' surely regretted it. The smart ones bought Bitcoin all the way up to $30 and then all the way down to $2, and then back up.
I could own more XMR than I do. But I think that if I own too much, then it is bad for the economy and the culture. Most people don't want to get very wealthy. Most who do want to get very wealthy probably shouldn't. Personally, I am trying to maximize wealth because I have a purpose for it, which I consider very important, superceding my personal interests. But even for that purpose, there is an optimal proportion of the XMR distribution which I seek to own. If I own more, I prefer to sell. I currently own too much of the current distribution, but not enough of the long-term distribution, so I feel free to accumulate, in a small way, until I own an optimal proportion of the 18mm XMR distributed before maintenance rewards kick in. As the economy grows, that notional optimum will decrease over time: When there are goods and services being transacted in XMR routinely, the velocity of the float needs to be reasonable in order for the economy to grow. If the velocity appears to be a limiting factor, I will definitely distribute, regardless of the price. Focusing exclusively on maximizing personal wealth is not a good plan, in my opinion. If you are just going to waste it on hedonic excess, I think you will soon find yourself on a meaningless hedonic treadmill. The end thereof is death. Personally, I seek to maximize meaningfulness. That is a diverse, complex and moving target, but philanthropy certainly helps, as do healthy interpersonal relationships, and a project agenda. This begs the obvious question of how much XMR one should hold? I am adding a few btc a week at the moment. |
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A whole lot of 'this user is currently ignored' trolling up this thread..
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... you forgot the sad ether-pumpers who crawl out when it goes down too.
Because seeing the price rise from a single large order somehow confirms your point of view on the matter. Hopefully we break upwards out of this enormous flag. |
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I'll pick up another 10k coins if we test 0.003
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I've had a pretty bad 2 weeks. I made the terrible decision to sell XMR and RADS just before they went up so I could buy ETH just before it went down. Then I bought back into XMR right before it dropped again. Now someone thinks they're a market manipulating wizard and is putting up sell walls.
If XMR drops much more you might not be hearing from me again, lol.
XMR will have a big bull run, it just attempted to do so far too close to BTC halving time. All alts will get murdered in the halving, then once BTC stabilizes at it's new high, Monero can then work on going somewhere again. If you could write down next weeks lottery numbers that would be great. |
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Yes, the warm invitation to whoever still needs to dump is still up:) bet NO, defend your point. I think most of the posters in this thread are accumulating a long term position in XMR. XMR is down 10%? It has to go down to below 0.002 for me to lose anything and i'm a latecomer to the party! |
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What are you doing with your 440,000 aeon stash? Why are you not market making or pushing the market around in that smaller paddling pool?
I could do that. It would be easy. I could take that sum and bully down the bids mercilessly and put up bully walls to incite panic, and then buy back cheaper. I estimate if I did it skillfully I could probably turn those 400k Aeon into 500k. But I won't do that. I will hold those Aeon hard, and continue supporting the community as we go. It's about more than money for me, and I want people to know that though I am heavily invested in Aeon, I'm not some bully whale who wants to profit off their backs. I made a loud declaration of support for the Aeon blockchain, backed it up with an acquisition, and now will simply hold the spot. If/when Aeon moves to Poloniex and there exists an XMR/AEON pair I will provide some liquidity for this, but only as a service to the community with little expectation of profit. Besides, I noticed upon looking at risto's 'bitcoin rich list' ( https://bitcointalk.org/index.php?topic=321265.0) that no known holder of Bitcoin ever held more than 400k-ish of Bitcoin (aside from Satoshi himself). Some of these people were legendary computer scientists and I feel that it would be foolish for me to ignore their historical precedent. For some reason, of an asset with approximately 18 to 21 million total tokens, no single entity no matter how rich has ever publicly controlled greater than 400k. That's good enough for me. I suspect Monero should be the same (though we would honestly never know). No single entity should probably seek to control over 400k XMR for long term saving either. Personally I have significantly less than that at the present, so hell yes I will fight tooth and nail for every single one I can get my hands on, but I wouldn't seek to overdo it. But what do I know - I'm just some guy, not an oracle. I meant using the 440k stash to support the price. I am fairly sure the reason there has always been an heavily weighted long:short ratio on finex for btc is because miners use their coins as long collateral. You could do the same. If you are sufficiently large as a whale then you can move the market upwards with little or no fear of a bigger whale dumping on you. Timed around key technical landmarks for the coin and you can directly help to upsize the market cap. |
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I would suggest taking a stop back and looking at the volume levels in the weekly chart. https://bitcoinwisdom.com/markets/poloniex/xmrbtc both in terms of XMR and the XBT. The volume numbers since February 2016 are consistently way higher by approximately a factor of 4 than the historical levels going back to 2014. This is indicative of a fundamental change in over the last two months. To be honest, and you know I am the biggest Monero maximalist out there, it looks like our vertical ascent may have over-extended itself a tad. I think it's not unthinkable we may face a consolidation/correction period where we bounce off some support. When people in the Polo troll box start saying things like 'the Monero scam pump is over! ha ha' then you know we are ready to resume launch. Bit early to say that IMO. We are at a very important level technically. Sure the ascent has been steep but there is no indication thus far that this run is over, though I would like to pick up a few k at a lower price than this. What are you doing with your 440,000 aeon stash? Why are you not market making or pushing the market around in that smaller paddling pool? |
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If there are weak hands saying Monero cannot run anymore, it is always possible to borrow Moneros (obviosuly you have sold your coins already and need to borrow now), I am happy to feed your short positions.
The rates are now so low that not many will bother to lend but I can give a few coins for rent.
That been said, over 50 % of my coins are lent at 0.20 % or higher (even the loan with 0.900 % is still collecting interest).
I've gotten to the point where I am too big of a player to play the margin game anymore (at least without not disrupting the markets somewhat), so I am starting to look into other forms of making my money work for me, specifically the other side of the coin: lending. I say again, I really wish Poloniex allowed people to long other coins with borrowed XMR, but we seem to be getting a steady 0.1%-ish even with the only purpose of Monero lending being to short itself. Do you have any advice for a new wannabe lender who wants to stay competitive, but also not get into a bidding war with other lenders? What should I look for in offering an average loan? Are 0.1% 2-day loans the norm? Should I try to swing those low interest loans into higher rate ones once the initial term is up? Sorry, all this is a bit new to me, but I am learning quickly. Im way small fish and less expert than you, so I donīt have a sound strategie to offer you but... donīt you worry about your moneros not been returned back?. Since I learned that the leans are not 100% guarateed I just reduced this risk to the max... I offer some BTC at exhorbitant rates from time to time, but I sleep better when they are under my control (well... Polo control) It is a risk that short positions lent out will not be returned. But once an exchange allows this to happen it loses it's reputation and customers. Let's see how monero does in the next few months as the bitcoin halving approaches. The fairytale ending to this year would be a halving pump to 750-1200 with a 10x rise in monero. I am fairly sure this will not happen . |
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"Well below 1%" sounds like something insane such as 5%. Imagine only having 100k in the bank and losing 5k per year, wtf? Even if it was "only" 3%, people would simply stop storing any kind of value in banks and convert all their wealth to stocks, real estate, gold, and Bitcoin. The problem there is, you can't legislate the stock and real estate bubble into lasting forever with NIRP. Eventually it will blow up anyway. Things have to swing back towards the hard currencies instead (Bitcoin and gold).
This is even more ridiculous when you consider the high inflation rates that countries like India have. Here, the central government manages to achieve reducing your purchasing power, even while maintaining rates at 5+%. They just let inflation do its job. Real interest rates are way negative. The issue is money velocity. It has been hurtling to lower and lower extremes while base money has been printed into the stratosphere in an attempt to prevent a deflationary credit collapse. If interest rates ever become strongly negative then consider the bank pays you to continue your mortgage or loan if you are fixed to the central bank rates. Consider this will also drive money into bonds IMO which will pay nothing but continue to be a 'safe haven'. Bitcoin and other cryptocurrencies with exponentially falling inflationary schedules should benefit hugely also. Over the longer term this is looking like it will become the greatest slow motion financial train wreck in history. Everyone still dies at the end. (The baby boomer generation has a lot to answer for.) |
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I'd rather celebrate XMR's victories than cast aspersions on LTC's viability. We don't need to tear BTC/LTC down to raise XMR up. It's not zero sum. The crypto pie is growing so fast that all legit/useful/innovative projects may have a nicely sized slice.
This is where it gets interesting. At some point that pie will stop growing so fast. And by pie I don't necessarily mean market cap (as that at least did a long-pause if not a stop in 2013) but applications, use cases, and district community approaches to it. And at that point we will reach a consolidation phase, and then I think there will be actual coin failures (failures not necessarily in a technical sense, but economically and socially people will just abandon coins that don't make the cut). Consolidation (ie culling the weak from the herd) started years ago and never stopped. RIP Tenebrix, IXcoin, Paycoin, and Neucoin. All basically stillborn or pan flashers that were never in the top or at least not for much time. Old leaders fail too. Think Pan Am, Hostess, Sears. Those weren't even tech, where you might consider innovation and disruption. There you have Blackberry, Atari, Wang, AOL, and countless others. The crypto pie will grow astronomically faster In that case it won't happen for a while, but it will still happen. Yes, the Lindy effect strongly tends to protect incumbent technologies (eg big box store shopping and video games) much more than particular individual firms (eg Sears and Atari), until it doesn't.  I'm reminded of the tectonic metaphor often used to describe the decay of the Roman Republic into Empire as happening " gradually, then all at once." (Cite needed; sorry I'm a terribly lazy scholar.) Where do you see crypto as crossing its Rubicon of disruption into the hollowed out Marches of Fiat power vacuum? (I'm asking in good faith, not trying to set you up for a 'Gotcha! LOOL!' if you're a bit off or even completely wrong.) If pressed, I'd pick as the least arbitrary line of demarcation the moment when the market cap(s) of BTC+XMR exceeds that of gold+silver. Hemingway described his bankruptcy as occurring 'gradually and then suddenly' also. |
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Should have bought more when I had the chance |
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Did the OP know the Azure integration was coming today? If not, great timing! XMR has achieved what it has achieved with very little marketing, and no official GUI. It has done this because its cryptography and tech is top notch. Hordes of pumpcoins with ICO funds to spend on marketing have been unable to achieve a higher market cap than it, only a few are above it, most of which are other very solid coins. Monero is up with the elite. It is certainly having a good run. The market cap is minuscule at this stage and the privacy features are a strong buying point. |
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Good morning Bitcoinland.
Still no change?
Soon it will roar up or fizzle out. That wedge is going to be legendary when it finally breaks |
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Good morning Bitcoinland. $415ish?
No wonder this thread has become the Fork Observer. There's no Bitcoin price movement to track or discuss.
Ho freaking hum.
That is one reason. |
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Monero price is too volatile for them to consider adopting at this time. Sellers would not choose to use Monero because they would be scared of losing money.
More scared of losing money than they are of losing their freedom? Questionable. Also, bitcoin volatility is low now, but during DNM adoption phase it was much higher. The very fact of adoption creates volatility. Nobody minds upside volatility. I feel like shorters wouldn't like it that much. We don't acknowledge those types of people here  I on my behalf acknowledge them since they pay me well. I am happy to help them with their aspirations. Yep someone has borrowed several thousand monero of mine at 0.67% daily interest. There is definitely interest in shorting. |
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