Judging the Poloniex sell orderbook it is actually quite easy to reach 10 % btc marketcap for Monero.
I do not want to pump but I am quite positive we will reach it.
You can buy quite large stake of Moneros for 5,000-10,000 btc.
Perhaps if if you triple that you can shake pretty many weak hands.
Just a quick reminder, 5 kbtc represents just over 1 million usd.
Ofcourse 5000 BTC will take it to new ATH's, but at this stage it's just impossible to buy so much XMR without buying up the whole orderbook more than once. Even if you would buy so much XMR you will have bought a lot of coins at a price where noone else wants to buy, so the price will crash shortly after and you will have lost a lot of those 5000 BTC in purchasing power. Only the weakest guys are selling at these lows. The Monero community consists mainly of second generation crypto people. I assume they are not interested in peanuts. I tell you, selling Monero below 1 btc per coin is selling Moneros for peanuts. To drive the price high one need a plan. First decide where you want to buy it into and then buy and then create support for that price point. |
|
|
|
Judging the Poloniex sell orderbook it is actually quite easy to reach 10 % btc marketcap for Monero.
I do not want to pump but I am quite positive we will reach it.
You can buy quite large stake of Moneros for 5,000-10,000 btc.
Perhaps if if you triple that you can shake pretty many weak hands.
Just a quick reminder, 5 kbtc represents just over 1 million usd.
You can't make conclusions like that by judging the orderbook at this moment. Most coins aren't held on exchanges since noone wants to get goxxed, if the price would rise to let's say 0.006 a lot more XMR will pop up on the sell side. I hate my bullish way of talking but indeed 5,000 btc alone will take the coin to new level - even if you expect some weak hands shaking their Moneros on your bosoms. As you said, there are coins in the sidelines but also some sell orders might get cancelled when the sellers get the point. |
|
|
|
|
Judging the Poloniex sell orderbook it is actually quite easy to reach 10 % btc marketcap for Monero.
I do not want to pump but I am quite positive we will reach it.
You can buy quite large stake of Moneros for 5,000-10,000 btc.
Perhaps if if you triple that you can shake pretty many weak hands.
Just a quick reminder, 5 kbtc represents just over 1 million usd.
|
|
|
|
Bitcoin has the first mover advantage and massive adoption, no altcoin even comes close. To overtake bitcoin we'll need something that is as revolutionary as bitcoin is to the fiat/banking system. Monero is not that.
If minor improvements is all that it takes, we will soon enough see monero outcompeted by other currencies. Who's to say there won't be a zerocash type currency coming out where the parameteres are generated in a trusted manner? Suddenly everyone will flock to "the next big thing". Switching quickly between currencies like that means the storage of value is lost, nobody would use USD if they knew next month USD 2.0 will come out and their USD 1.0 will quickly decline in value. And then month after that USD 3.0 comes out with same result. This would be horrible for the ecosystem (and that without mentioning the huge costs of infrastructure change), and I don't think this will happen.
Monero serves a purpose, but for the majority of people the anonymity offered by monero isn't a revolution compared to bitcoin. Even if it was, bitcoin could implement it. That applies to any altcoin, too much is invested in bitcoin to let it be outcompeted. If there appears to be a serious threat, bitcoin will adap
I realize this is swearing in the church, I like monero very much, but let's not get delusional. It's future success is not set in stone. I think at best monero can be a high liquid altcoin like LTC has been, and work as a complimentary currency to bitcoin. It may be, that bitcoin takes the spot as mainly storage of value, like gold is today. And that monero takes the spot as transactional currency. But it will never be the #1 crypto. That ship has sailed.
For me it is Monero or fiat. I personally do not need bitcoin anywhere and I am not particularly interested in libertarian ethos of how central banks are evil and therefore we need this and that. Pricewise, in order for btc it needs new people adapting it. At least following local community all I hear speaking in the forums are the owners of btc companies (localbitcoins and bittiraha.fi). Hardly no new people adapting btc. When I am talking about btc to fiat people, all they remember are scams (gox etc.) and the fact that btc train has left the station. Not to mention the whole idea of btc is stupid: i convert my fiat to btc in order to pay a cup of coffee while it would be easier to do it simply throwing a few coins to cashier. |
|
|
|
If any alt reaches about 10-20% of Bitcoin's marketcap, Bitcoin is doomed in such a great probability that I'll sell mine (in favor of the alt).
Monero is surprisingly close to that actually. "Only" 25 times. |
|
|
|
Guy in Romania had his house hit by meteors like 3 times over the years. How much would you have bet against that? Selling XMR below 1 BTC requires, in my mind, a reason why the utility of XMR will remain inferior to that of BTC over the long run. But in fact, its utility is superior in the most important dimensions, and very likely to improve dramatically in the superficial ones understood by trampstamps and bronies, as funds for development are freed up by rising market cap. And if it can go to 1 BTC, it can certainly go to 10 BTC. Doesn't mean one should buy it though.
comon, i dont think it can overtake bitcoin any time why? Do we still use vhs or has dvds overtaken? |
|
|
|
Guy in Romania had his house hit by meteors like 3 times over the years. How much would you have bet against that? Selling XMR below 1 BTC requires, in my mind, a reason why the utility of XMR will remain inferior to that of BTC over the long run. But in fact, its utility is superior in the most important dimensions, and very likely to improve dramatically in the superficial ones understood by trampstamps and bronies, as funds for development are freed up by rising market cap. And if it can go to 1 BTC, it can certainly go to 10 BTC. Doesn't mean one should buy it though.
I agree, Monero has not even started getting wider adoption. Selling now is selling monero with peanuts. My strategy to sell is when others than the currwnt community is buying the coin. if you sell now the coins will go to the stromgest hands and you may not be able to get those coins back. |
|
|
|
What is your ratio between bitcoin and XMR you have ? I have personnaly put about 50% of my investment in BTC and about 50% in XMR.
I have only fractions in btc. For me btc serves only as a gateway towards xmr, hence I am pretty sceptical if we see ath in btc anymore. It is pissible but day by day it looks more distant to me. So I have put my money where my mouth is. |
|
|
|
Methinks XMR might (and probably will) "rise [like a] chikun" (as was chanted in the btc-e trollbox) like LTC ran from $1.11 to $48.48 in fall of 2013. This will likely accelerate as BTC finishes the bottoming pattern and begins its next rally to $3-$10k BTC/USD. XMR will be a greater "chikun" than LTC especially once GUI arrives and it grows widely adopted & utilized. So when is btc going to 3-10k? I heard it was happening last summer.  I put my Polo stash up for sale at btc parity.  I made a small amount of XMR trading today but I really hate to do it as I don't want to loose (correct bct spelling) any of it. Yeah yeah I know.  Looks like they have cancelled btc rise in the last minutes. Actually the failure of btc is like a victory over the Goliath Monero being little David who later inherited the Kingdom and crown. Monero doesnt need btc but later in the future btc might need actually Monero. Bitcoin can offer nothing that cannot be implemented to Monero. |
|
|
|
dont buy into this scamcoin.....
April Fools! Good one. LOL  |
|
|
|
Looks like there is a mysterious gravity towards 0.0043. Perhaps some physicians have a theory that applies to this... Once it establishes there, we might have second breakout.  |
|
|
|
So I'm taking a vacation in a couple weeks and need some liquidity.
I'm enjoying healthy profits with this current run.. Should I cash out or wait two-three weeks?
Do ya'll see us keeping this pace?
Cash now. Weak hands need to be shaken. I put one buy order. Of course I'm never cashing out everything  My sell order is sitting at 0.004. Feel free to take a chomp Good boy. Congratulations on the nice ride and I am glad you decided to leave some coins for the future appreciation. Unfortunately I was dumped already and I have no btc in Polo right now. Also btc is very slow (it took over 1 hr to get even one conf. which is required by Polo). |
|
|
|
So I'm taking a vacation in a couple weeks and need some liquidity.
I'm enjoying healthy profits with this current run.. Should I cash out or wait two-three weeks?
Do ya'll see us keeping this pace?
Cash now. Weak hands need to be shaken. I put one buy order. Calling someone who just needs some money to pay his vacation a weak hands seems a little inappropiate in my opinion. Regarding your post brg444, I personally would wait till the market cools off a bit. Currently the volume & volatility are pretty high and it could go either way. If this returns to normal you will have a more clear view on your decision. Although I said that it could go either way, I am personally more bullish at the moment. We survived a beartrend of around 6 months (in XMR/BTC terms, keep in mind that BTC went down as well), there was a clear outbreak and there seems to be much more consensus in the community. Furthermore, I see new people popping up everyday on IRC/reddit asking questions on how to get started, so that could be an indicator of a new influx of investors. PS: Keep in mind that the DB will be released soon, although this could already be incorperated into the price. The Monero price is still somewhat fragile as it rose so fast. It needs support now, so perhaps holding is better for the coin's success in mid term. Personally I am not in a situation that I need to cash my coins to pay my vacation while Monero is still this cheap. Actually, I am not even considering it at this point. A person who is speaking if he/she has to sell now is a weak hand in my opinion. Strong hands are not even speaking in this way at this point. Sure Monero has been a nice investment if you bought in January but it is nothing now what it should be in my opinion. The community consists of so many high quality people (=with money and knowledge) + the coin is superior to bitcoin. The only weakness of Monero is that it is not used by the masses and when this is taking place, it is time to think wether to sell or not. I personally will sell some coins when there are more people adapting Monero. I don't say it is the only right thing to do - I guess the chance of success is still 25 % but it has pressure to go higher as the price keeps going up. I am getting pretty passionate as I see the price going up so my style might sound pretty harsh from time to time, I am sorry for that if it hurts someone's feelings. |
|
|
|
So I'm taking a vacation in a couple weeks and need some liquidity.
I'm enjoying healthy profits with this current run.. Should I cash out or wait two-three weeks?
Do ya'll see us keeping this pace?
Cash now. Weak hands need to be shaken. I put one buy order. |
|
|
|
|
The next bigger selling wall is located at 0.0048. Around 25 k Moneros (or 1.5 days mining rewards).
|
|
|
|
what do you guys think will happen to xmr price IF bitcoin goes to say $150? Would that make xmr go higher or lower? Or no correlation?
I have found that the price of Monero relative to Bitcoin decreases initially on any Bitcoin down swing. We haven't really had Monero during a true Bitcoin up swing so who knows. When Bitcoin hit $1,000+ Litecoin took a while to truly catch up, and when it did, $45! That's $45 for coin 4 times less scarce and more useless than Monero. If Monero has the database and GUI work partially integrated into the main client by the time Bitcoin has a true $1,000, $2,000 up swing, we could see Monero going crazy. I know you asked about Bitcoin going down, but I just feel like being more optimistic. I think that any Bitcoin decrease will not be a good thing for Monero (unless Monero is the reason for the decrease, however that's unlikely to ever happen....) Actually it is not that clear if Monero will drop relative to bitcoin in case of major bitcoin dump. It depends largely on what kind of adoption Monero gets. If Risto's fiat denominated hands get excited about Monero when btc is at 150 usd per coin, it might mean actually that Monero gains value against bitcoin. I am not that optimistic about bitcoin's future as many. Monero is actually better coin than bitcoin, the problem is, the large majority of bitcoin hard core guys have not heard the gospel according to Monero loud and vocal enough to pull the trigger. Also Monero can serve in case of btc dump as a safe haven for many hardcore bitcoiners. Until now, Monero has dropped against bitcoin (kind of leveraged dump) when btc is dropping. |
|
|
|
But there are plenty of people with coins bought between 0.001-0.003
There are very few people who were 1) not heavily involved in XMR before 0.001-0.003; 2) who are not ardent believers now, and 3) who did buy in that range, and 4) have not already sold. The other people (who of course did buy all the coins mined in that period) are not selling at these prices except trickle quantities. See my prior post. Actually, "these people" is a group that is increasing now. The quantity of "XMR for short-term speculation" is growing during the uptrend. I guess we shall see in the next few days. If it drops then I guess there were enough people in the profit zone to sell now (I'll rule out "non-believers for now) Looks like there might be a little stability here around 0.004. Also dump is possible, but I do not see it very probable (at least not in larger scale). 0.004 is a nice base for a rocket. |
|
|
|
IMO - Monero is what people thought Bitcoin was in 2013... Anonymous!
As such, a lot of the earlier adopters of Bitcoin who were the ones that took it over $100 (before it was famous) are the ones that are looking at Monero to carry the torch forward.
litecoin offers nothing of value over Bitcoin, so you may as well buy Bitcoin. Whilst I did hold Litecoin for a while - i will not do it again.
Monero lacks basic ecommerce APIs or simple 'newbie, clients or even a Direct USD to Monero exchange but it does have an optimistic roadmap and I think that its own community can easily drive the price higher than it is now (even without these things) and a lot higher when the infrastructure becomes more robust.
The speculators have only just started to wake up and many of them are looking for a better payday than .004 per Monero and will probably hold longer to see if the roadmap materialises as promised.
Keep in mind also, that bull trend is preventing speculators from selling. Who wants to kill a cow for one time meat if it gives you milk for rest of cow's life. |
|
|
|
Well, Risto said almost 1 year ago when Monero was launched that Monero trading will take place in his opinion between 0.002-0.004.
When this was said, the emission was almost 50 % higher than currently.
Monero peaked around midsummer feast at 5 usd - and this happened almost a year ago when nothing has been done almost to the code base. If it was possible then, why not today?
After all, I am now on the water for long long long time. My average buying price is somewhere around 0.003-0.0035. And when I bought most of my Moneros bitcoin was trading between 400-685 usd.
I think many were buying along me so there is not that much sellers at current prices. Also I doubt if long term bagholders like me and the others are selling at 10-30 % profit. I assume we are expecting much more if we ever want to sell even. Much better if there will be useful stuff to buy directly with XMR - and prefertably from Monero-friendly people who do not dump immediately after receiving the payment.
In my opinion, the fair price for Monero is now where the darkcoin is (around 0.02). Given the development and lowering block reward, the community etc.
I'll be glad as you if we go up so more. But there are plenty of people with coins bought between 0.001-0.003 (and btc bought at 200-250) that will sell with a nice profit at this time- it just takes a flatline price for a bit and people get jittery. Well, that's true. There definetely are people who might take take their profits at some point... Historically, however, Monero has been able to handle 30 % daily pump without crash. The crash takes place if the pump is 35+ % for longer time (like 1-2 days). People like me are not even taking profits at 10 usd per coin, we are building here new economy, not pumping and dumping. That being said, it is interesting to speculate and also try to guess when it is good entry point to add stash and when it is time to be neutral. Selling takes place at least in my case when we clearly see noobs coming into the markets and they need their part of the pie. I am willing to share some of mine to them. |
|
|
|
|
Show Posts
