Is current monero's rise legit or just a pump and dump thing?

[owm123]

xmr rose quickly, and even quicker today.

When eth did same recently, many said it is just a scam, pump a dump thing to get noobs to spend their btc to eth pumpers.

What about xmr current sudden rise? Are ppl starting to see its real value, or its just pumping and dumping season for xmr now?

What are your opinions?

[bearex]

I have a feeling it is a pump and dump thing. Could be wrong though.

[Funny]

Have to say the unusually high volume seems like a pump and dump... Basically ethereum with another coin.

[rangedriver]

Monero has been massively underpriced for a long time. I think most people understood that a correction was more or less inevitable.

Pre-GUI release the 'proper' trading range for XMR should be between 0.004 and 0.005.

Post-GUI release you should really expect the 0.01 all-time high to be broken, although this depends on development variables.

Certainly, the SDC news helped, as well as an increased understanding of the significance of Ring Signature technology, coupled with Shen Noether's work.

It's worth also adding that Monero has a strong libertarian base as well as a technogeeky base - and that's something that other privacy orientated coins just aren't able to match (especially true for projects that are essentially a product defined by profit-acquisition.)

A privacy-orientated coin should always always be a grassroots, open-source, and decentralized affair. Yes - that may mean it can appear a little rough around the edges at times - as is true with a lot of open-source projects - but ultimately for the construction of something as universal as a currency there is no substitute.

I think most people understand this, however there will always be some that will never see it.

[americanpegasus]

When a currency moves, it usually doesn't do so gradually.  Bitcoin rarely made new ground gradually, and neither do most cutting edge tech-stocks.  They have violent upward movements that eventually smooth out into new price bases.  Were the major Bitcoin moves pump and dumps? 
 
Now why do assets usually make new ground like this?  Well, the price explosion is fueled by new interest in the asset, and new money flowing in.  Consider there are many reasons why XMR could be exploding upward right now, all of them legitimate.  Perhaps the first few speculators in China have even caught wind of Monero.... now that could get real scary, real quick.

[obit33]

mweh, seems like pump and dump to me...

didn't learn much yet, but did learn that parabola mostly don't last that long...

[stealth923]

Dump of Monero is very near...pump long over

[obit33]

Dump of Monero is very near...pump long over

yeah, I think it's time for soda-machines now... or some centralised system to lock up coins in...

[Febo]

[GTO911]

Monero has been undervalued for a lot of time. Its just finding its real value now which i think should be a bare minimum $4

Even if you dont value privacy and are not interested in Monero, the technology is beautiful and the project is far from a pump and dump

[moroneroo]

theymos? lol 

monero is scam from the start. everyone here knows that.

monero and their troll kids gang deserve a good dump in their faces

[GTO911]

theymos? lol 

monero is scam from the start. everyone here knows that.

monero and their troll kids gang deserve a good dump in their faces

Thanks for your valuable contribution

[TrueCryptonaire]

It is a paradigm shift.
People are used to cheap Moneros but it looks like they need to say a farewell to Moneros under 2000 usd/xmr.
I do not see any reason why Monero couldn't hit these extreme highs, the emission is getting tighter and tighter. The core holders are determined to hold until the very end and the community is getting new people that seem to have idle money to invest into this project.

[GTO911]

It is a paradigm shift.
People are used to cheap Moneros but it looks like they need to say a farewell to Moneros under 2000 usd/xmr.

This.

Monero will not always remain that cool but cheap coin, the stealth phase has now passed and it is entering the awareness phase

[stoat]

Monero is a dead coin.  Someone decided to throw a few satoshis and pump and dump it. 

[Herp]

Word is the Monero devs paid some trader pumper whales to pump the coin for a while. It crashed badly few days ago following a similar pump.

[Richard1972x]

I think it’s legit. Monero was underperforming since months and this is just a strikeback. On the other hand I don’t see much further potential from the current levels. What I would do: Switch from Monero to Dash; Dash was the underperformer of the last weeks and have probably value to grow further. Or Factom.

[Snail2]

Such a sudden spike in volume and price is used to be an indication of a pump. Also there aren't any really great news about monero (like X or Y bank interested in the technology, or whatever else) so this rise is most likely a pump indeed.

...and again, there are no such think like undervalued coin. It's all about supply, demand, market and economy for a given coin. Everything worth exactly as much as what people willing to pay for it.

[cryptohunter2]

I like monero and bought a bit more this week.

However, i would like to see a ring sigs coin like that or bbr released with an easy guide for all to mine. I think POW is still the best distribution model and we've yet to have a coin like this released that it is easy for everyone to mine at the start. Problem with monero only a small % of people mined it at the start and i think it is concentrated in their hands still.

Even so i think it deserves to be a top 10 coin.

[americanpegasus]

I think it’s legit. Monero was underperforming since months and this is just a strikeback. On the other hand I don’t see much further potential from the current levels. What I would do: Switch from Monero to Dash; Dash was the underperformer of the last weeks and have probably value to grow further. Or Factom.

"I've never been so in love in my life.  She's perfect: blonde, gorgeous, skinny, loves me, fun, exciting, and creative.  But this cannot last.  I don't see much further potential from the current levels.  What I will do: Switch back to that greasy meth addict from the dumpster behind Taco Bell.  She has really been underpeforming the past few weeks and I think she has a lot of value to grow further.  Or perhaps Lindsay Lohan.

 
 
That's what you sound like.