The down moves are very sticky. Looks like Monero wants to rise like a cork.
From one trader to another, it is not easy. You cannot rely on anything anyone says. What you *can* do is send your 'troops' (coins) into battle either long or short. This is the market equivalent of uncovering the 'fog of war' and calling someone's bluff in poker. The resistance you encounter on either side will tell you the truth of the matter. Unfortunately, this information is not without cost, as you will have to cover or buy back in soon after your gambit. I will share this with you: in the past weeks I have dumped a little as a test, just to see how fragile our upward movement is. After all, if you are trying to acquire, you don't want to make a big fuss about it and drive up the price - right? I can confirm there is strong acquisition going on independent of any other market indicators and hype. Of course don't take this as trading advice; just my personal observations. I corrected the issue. I said yesterday it will go down. It didn't significiantly (I was expecting some heavy dumping). Therefore I bidded it back to 0.002, and it costed only like 1.5 btc or so. Obviously it is possible it will go down from here, but the longer it takes the less possible it will be. It looks to me that the lowering emission is doing good job for Monero as there are only approximately 10 000 XMR issued on daily basis. I am expecting the days when Monero will be traded at same volumes as Etherium. Those days will probably bring Monero to heights of the Moon or even Pluto to its own orbit. The reason is there are not that many coins around in shaky hands of day traders. |
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The down moves are very sticky. Looks like Monero wants to rise like a cork.
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I think the markets will calm a little bit now. Not too much though.
I consider anything below 0.00185 a good buying opportunity currently. The short term looks a bit bearish to me, I have prepared some btc to catch the falling knife.
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Today I was reading the trollbox on Polo. Usually I do not do it but today I felt like I want to see the general atmosphere there. Obviously it was hyped and pumped. However, the thing that made my day was I heard one guy saying he is making money with these pumps and storing them into XMR.
Looks like Monero is beginning to achieve the state of passive holders who simply want privately store their wealth they make when trading/investing. These are early weak signals of Monero replacing gold bullion as a store of value.
When the price of Monero approaches to 1000 usd each I am expecting some calculations from Risto how much each Monero costs if Monero replaces gold as the ultimate safe haven.
I would put to much faith into what they say in trollbox. You can find there "positive" things about literally every single coin. Yes trolls are obviously pumping the coins they own because it is their job from which they get paid. That being said, I love when people view Monero like this. There are huge opportunities for Monero to get ultrapumped if the whole trollbox will start praising the name of Monero. Potentially there is volume of 20 000-30 000 btc on daily basis. Etherium has been successful getting the majority of the volume recently but at some point people might find Monero even more exciting and put their bitcoins into Monero and then the price goes to new heighs. I see even 0.1 btc Monero price a possibility in a few years if everything goes as in scripts (usually it doesn't - it can go even better). |
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With the exception of those knowingly propagating the scam I don't think anyone "deserves to go down with the ship". I want to rescue (through education) as many people as I can.
Unfortunately Mein Fuhrer just heard about the debacle and he is not pleased. http://captiongenerator.com/79795/Fuhrer-Hears-Report-on-Satoshi-RoundtableToday I was reading the trollbox on Polo. Usually I do not do it but today I felt like I want to see the general atmosphere there. Obviously it was hyped and pumped. However, the thing that made my day was I heard one guy saying he is making money with these pumps and storing them into XMR.
Looks like Monero is beginning to achieve the state of passive holders who simply want privately store their wealth they make when trading/investing. These are early weak signals of Monero replacing gold bullion as a store of value.
Yes, among alt traders, XMR is growing into a stable hedge - the perfect place to move your money and profits into when you're done chasing waterfalls. That's actually the true sign of money: when you are done with investing, you will always end up to cash which is Monero. When you have done your work in your day job, you get paid and convert it to Monero. If enough people will do this, nothing can stop this beast, it is like the reincarnation of cthulhu. |
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Today I was reading the trollbox on Polo. Usually I do not do it but today I felt like I want to see the general atmosphere there. Obviously it was hyped and pumped. However, the thing that made my day was I heard one guy saying he is making money with these pumps and storing them into XMR.
Looks like Monero is beginning to achieve the state of passive holders who simply want privately store their wealth they make when trading/investing. These are early weak signals of Monero replacing gold bullion as a store of value.
When the price of Monero approaches to 1000 usd each I am expecting some calculations from Risto how much each Monero costs if Monero replaces gold as the ultimate safe haven.
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I see volume keeps going lower as I have predicted. Sitting somewhere around 75k now, down from 700-800k fake volume. Expect price to follow on its way down to 4mil market cap.
Get the lube ready boys. It will be a very rough ride.
Low and / or falling volume during a consolidation after a strong rise can actually be a bullish sign and an indication of the strength of the underlying up trend. http://www.rediff.com/money/special/trading-volume-what-it-reveals-about-the-market/20090703.htm. Edit: This is the correct observation and the wrong conclusion. The strong rise was artificial thus fake and the conclusions in that article don't apply. There weren't any real buyers behind that volume and move up in price. How can price rise artificially? I have thought that the price rises, when someone buys more than there are selling. The coins are mainly held in strong hands who do not even think about selling anywhere even distantly close to current prices. I am expecting some early selling over 100 usd/xmr. When Monero was launched with high block reward the price were shortly around 4-5 usd so those of us who have been buying there are still underwater both btc wise and fiatwise. |
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Speculation wise:
Someone took out another 5k short and placed it at 194k. Lending rates are really high currently, around 0.15-0.16%.
Sounds quite crazy to me. Perhaps there are soon opportunities to make a quick buck if there will start a forced liquadation. I am personally thinking of putting some coins for sale at higher price so that I am able to benefit of possible anomaly. We will see how this will play out. |
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Is this some kind of meeting of the Illuminati/Bilderberg?  |
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To be honest, I do not want Monero to rise in a fast manner. Much better is to have ultra long bull market which will exhaust the sellers and the weak handed dumpers will end up being buyers.
The sharp daily rises just indicate pump and dump and are not necessarily good for the ecosystem.
If a larger whale want to enter the game, it is better for him/her to contact one of the long term Monero fanbois and ask if we can make an OTC deal which will not harm the markets and the buyer avoids slippage.
However, the current interest rates in lending will hoover tons of Moneros from the Monero bears to my account. The interest rate is roughly the same as the emission rate. So the bear may not be too rational at this point taking short positions but I am glad to offer him/her some of my coins and if (s)he needs to buy back higher I might consider even selling some so that the market stays as smoothly rising as possible.
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Are you guys saying I need to put some (real) sell walls to avoid liqudation losses at spot + 20 %?
Looks like even the interest payments on the open short positions create demand for XMR. If all the Moneros existing would be shorted at 0.1 %, the emission of new coins would not be enough to cover the interest payments.
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The Satoshi Roundtable event is happening this weekend. I feel confident there will be at least a few people who may have disregarded Monero previously as 'just another altcoin', talk to fluffyponyza at this event, and subsequently have the same awakening we have and realize this going to be really big. Even outside of the crypto world, there are reps from places like Fidelity Investments etc. Some of these parties may then want in. I suggest, gentlemen and ladies, we let them it wholeheartedly and welcome them into the flock. But not cheaply. Perhaps now is the time to pull those asks off the market and find out what Monero's true market value is?   Wise words, man! My lowest ask is at 20 BTC/XMR and I am selling at that price only 0.05 XMR worth of 1 BTC. |
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...
This community is so "polluted" ... iCEBRAKER was a former CEO of Hashfast, criminal ASIC scammer with a lawsuit in progress. No wonder he's all-in in Monero, he had to 'wash' his stolen bitcoins... I have Moneros waiting for you and other bears to be lent out. Please short and pay me some interest. I am generously giving out loans with max. maturity (60 days) at these rates so no hurry to repay. I am considering buying coins from the shorters and re-lending them back to them so that they can short and sell those coins twice. |
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AFAIK (correct me if wrong), Poloniex does not hold the account owner personally at risk if the short game goes bust. All they can do is to liquidate the collateral. In the illiquid markets, this can cause anything to happen. So the real risk is on anyone who holds any value there. It is tempting to operate this kind of platforms but the black swan has a long, fat tail...
And when you calculate that someone is short X coins and "has to cover", don't forget that it is at least possible that he is a legitimate (covered) short. Someone might for tax or other reasons be shorting (instead of selling his position) to skim some profits while waiting for m00n.
When the banks offer mortgages, they take similar risk. Sometimes a house/appartment is under water and a borrower defaults. There are risks. My job as a lender is to estimate the probabilities and compare it to the reward I am getting. Definetely, if the interest rates are sub 0.1 % per day, it is not worth the risk. |
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Can anyone explain to me how lending monero does any good for monero at all?
The way I figure it, lending monero, at any rate, doesn't make any sense. Because even if its at 5%, you simply borrow monero, dump, then place a buy wall with you new bitcoin right above the price you dumped to. So you're bound to buyback the monero you just sold + more monero to cover the lending rate.
or do I not get markets. This second option is highly likely.
The interest payments squeezes more Moneros from the market when repaid than initially borrowed. |
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Rates up to 0.28% now. Anyone lending their coins for less than 0.1% should feel very very stupid right about now. I hope they enjoy their dust while those of use with a spine collect real money. These interest rates will squeeze Moneros from the weak selling hands to my strong hodling arms. |
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Just had an amusing argument with a coworker who has heard my Monero exploits and saw me looking Polo earlier. "So if I buy Monero, where will it be at in 6 months?"
"I don't know and anyone who says they do is probably lying."
"But you own it."
"Yes, a lot. Everything I have is in it."
"So what if I put 30 thousand dollars in it. Will I double it?"
"I don't think you should do that. Are you prepared to lose every cent of that 30 thousand dollars?"
"Well no, I don't want to lose that money."
"Then definitely don't put it in cryptocurrency. If you want some, only put in what you are prepared to totally lose."
"Ok, but what are the chances of it going to zero?"
"I don't know - I can only tell you that I have all my savings into it, and I am prepared to lose every dime of that. It will hurt, but I will still be eating. You should not buy this if you don't understand it."
"Ok, but someone surely understand it. What are they saying Monero goes to say.... by the end of the year?"
"Listen, I am the smartest person you have access to regarding this stuff, and I simply don't know - nor would it be ethical for me to guess when I already own it and you are considering putting money into this. I could ask the smartest person I have access to about this, and they still probably wouldn't know."
"Ok, so what if I put 30 thousand dollars into this."
"What if I told you there was a hot penny stock that could guarantee to double your money in 6 months; would you buy it?"
"Well, no."
"So why are you so gung ho to shovel so much money into this?"
"What was Monero at 2 months ago?"
"About 40 cents."
"What is it now?"
"80 cents."
"So I could have already doubled my money? Fuckkkk."
"Yes, but that is the past. Now you have to decide if it's worth 80 cents. I think you should read about it and consider putting in just a little money, no more than you are willing to completely lose."
Bottom line: it happened before with Bitcoin and it will happen again. There's going to be some hardcore FOMO going around and it's going to cause a lot of people to lose money buying Monero at the peak. Make sure you don't promise anyone anything with regards to it - and let them know you are prepared for it to go to zero, even if you hope it doesn't. Monero doesn't need many people like you to become a success. A few people putting all their savings into XMR can alone give a significiant push to the marketcap of Monero as there is no way to buy quantities of coins without a price reaction. At some point when we are in the minimum block reward and the amount of money chasing after Moneros will increase make some parabolic moves to Monero. |
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XMR is the best anon currently available! Buying a ton of it a little birdy told me she's pumping next month. Think it'll get to 1000 BTC per XMR.
Apparently you are setting boundaries to the upside. Please bear in the mind the community is not selling in the need of money but helping the people outside of M8nero community to get at least a tiny share of the digital gold. If XMR hit USD 400000 each I can assure you I will be a seller. You are selling too early then - especially if you are planning to exit completely at 400 000 usd. i would be totally comfortable knowing i sold too early at that point. i could easily run more than seven failing presidential campaigns from my own pocket and still manage OD on coke by the seventh failure id be at retirement age, so naturally id collect social security or something. When Monero reaches 400 000 usd per coin I might spend fractions of Moneros for payments but perhaps not to sell them. Fiat money I do not need as long as I am able to purchase the stuff I need with Moneros. Therefore do not expect me to dump any serious amounts of coins. Bear in mind, the cost of food today was less than 3 euros so it means I would overspend if I pay 0.00001 XMR for my daily consumption. And the merchant might hold the Moneros at that point which creates higher value for Monero. |
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XMR is the best anon currently available! Buying a ton of it a little birdy told me she's pumping next month. Think it'll get to 1000 BTC per XMR.
Apparently you are setting boundaries to the upside. Please bear in the mind the community is not selling in the need of money but helping the people outside of M8nero community to get at least a tiny share of the digital gold. If XMR hit USD 400000 each I can assure you I will be a seller. You are selling too early then - especially if you are planning to exit completely at 400 000 usd. |
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XMR is the best anon currently available! Buying a ton of it a little birdy told me she's pumping next month. Think it'll get to 1000 BTC per XMR.
Apparently you are setting boundaries to the upside. Please bear in the mind the community is not selling in the need of money but helping the people outside of M8nero community to get at least a tiny share of the digital gold. |
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