[2016-08-25] Monero Appreciation Intensifies on Darknet Adoption

[BTCManagerOfficial]

Monero's (XMR) recent upsurge intensified at the start of this week on plans for adoption by two large, darknet markets but where will the cryptocurrency head next? Posting an all-time high at $7.00, XMR-USD on the Poloniex exchange has since been tempered below $4.00, trading at $3.80 at the time of writing.

It is the first time bitcoin has been challenged with a substitute in these markets, as the novel protocol behind monero enables anonymous transactions. However, monero has to still achieve a strong enough network effect, as anonymizing payments require frequent transactions of similar sizes...

Read more here:

https://btcmanager.com/news/monero-appreciation-intensifies-on-darknet-adoption/








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[bbc.reporter]

XMR was pumped and dumped when the news about Alphabay and Oasis came out. There were traders who took advantage to make a quick profit. They knew many people would be desperate to get in. The same was happening in Lisk when it started to rise from the lows. A whale was accumulating the coin very slowly without pumping the price and then the traders wanted to take advantage by pumping the price. But the whale was very clever and he created a big sell wall that totaled 2000 BTC. Now the traders are staying away and the whale is happily picking up his coins.

[smoothie]

XMR was pumped and dumped when the news about Alphabay and Oasis came out. There were traders who took advantage to make a quick profit. They knew many people would be desperate to get in. The same was happening in Lisk when it started to rise from the lows. A whale was accumulating the coin and then the traders wanted to take advantage by pumping the price. But the whale was very clever and he created a big sell wall that totaled 2000 BTC. Now the traders are staying away and the whale is happily picking up his coins.

I see these generalizations made so much when using "pump and dump".

Where is the dump? How do you know the whale or larger holders actually dumped and not an accumulation of smaller monero holders?

Speculation, exactly, you can't tell.

your comment holds 0 proof of anything but perhaps a tinge of envy.

[bbc.reporter]

@smoothie. I use pump and dump in another context. I meant it as a strategy day traders use to make money from the market. I am not saying that XMR itself is a "pump and dump". The term is already very much used out of context in this forum.

I also do not see it as bad that XMR was played by the traders. It is a natural occurrence in the market and we are living with it whether we like it or not. That is all.

Also please read my post again. I was talking about what happened to Lisk and it was actually a good thing for me because the whale over there discouraged the traders to pump the coin.

[Leonard2016]

sometimes i feel like i shouldn't have sold all my monero because of topics like these but then again i go to my exchange site and look at the charts and also look at the profir i gained after this pump and i give up on the feeling and open some very low bid offers

[Nxtblg]

sometimes i feel like i shouldn't have sold all my monero because of topics like these but then again i go to my exchange site and look at the charts and also look at the profir i gained after this pump and i give up on the feeling and open some very low bid offers

That's very sensible of you. When Factom went on its rocket ride in early March, it was a bad time to buy. But by June, it was a great time to buy. If Monero follows the same path, there'll be a great buying opportunity this fall.

[generalizethis]

sometimes i feel like i shouldn't have sold all my monero because of topics like these but then again i go to my exchange site and look at the charts and also look at the profir i gained after this pump and i give up on the feeling and open some very low bid offers

That's very sensible of you. When Factom went on its rocket ride in early March, it was a bad time to buy. But by June, it was a great time to buy. If Monero follows the same path, there'll be a great buying opportunity this fall.

The GUI might make this a cringe worthy post in the fall.

[bbc.reporter]

@generalizethis. Do you recommend to buy now and worry later? Can you give us more information about the GUI?

Also is there plans to improve the light wallet?