rpietila Altcoin Observer

[Vanderi]

Risto have you ever looked into protoshares - angelshares - bitshares?

Thanks

[1715094265]

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[1715094265]

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[1715094265]

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[1715094265]

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[Vanderi]

Risto have you ever looked into protoshares - angelshares - bitshares?

Thanks

Screw it - I sold them all and bought moar xmr.

[rpietila]

Just a small update on Monero (XMR):

- I had been buying it during the uptrend so that my buying represented about 5% of the total volume.
- It went a little parabolic 2 days ago, but yesterday failed the expectations so the price collapsed.
- I am in a retreat (not Malla this time ) a few days, hardly online.
- Because of a large number of bagholders whose destiny is to buy high and sell cheap, I expect the consolidation to continue a few days also.
- It's important IMO that 0.00365 (2nd fibonacci from 0.00231->0.00581) is not violated, because that would question the legitimacy of the uptrend, and lead to increased selling towards lower lows - something which us whales can prevent (but do we want?)
- I am a long term supporter of Monero, which is a great coin.

[Este Nuno]

I had to get out at 0.0039 anyway for non-trading related reasons so if I decide to get back in this works out quite well for me. Sounds like I might have a little bit of time to decide whether or not to get back in. Despite the sell of I'd probably expect to see it bounce back soon as a lot of people who were just taking notice of the recent run up and planning on getting in now have a chance to get in cheaper than they would have anyway. And I doubt this sell off alone would be enough to shake the average person's confidence since as far as I know there is no bad news.

[GTO911]

and lead to increased selling towards lower lows - something which us whales can prevent (but do we want?)

Can we just let anything grow organically? people or manipulators like you are the plague which will prove to be the fall of crypto

[Este Nuno]

and lead to increased selling towards lower lows - something which us whales can prevent (but do we want?)

Can we just let anything grow organically? people or manipulators like you are the plague which will prove to be the fall of crypto

If manipulators alone are going to be the downfall of crypto then it never really had a chance anyway.

[lebing]

and lead to increased selling towards lower lows - something which us whales can prevent (but do we want?)

Can we just let anything grow organically? people or manipulators like you are the plague which will prove to be the fall of crypto

Nope. Manipulators have been manipulating since the very beginning and it seems to me we are doing fairly well in spite of this.

[dgarcia]

and lead to increased selling towards lower lows - something which us whales can prevent (but do we want?)

Can we just let anything grow organically? people or manipulators like you are the plague which will prove to be the fall of crypto

Is not better to follow manipulation and make your deal with it? In most cases I can't find any manipulation and most of this as well as all these conspiracies (government attacks against bitcoin etc.) are not more than normal market development. But sure, where people can manipulate, they'll do.

If (a) crypto would fall effected by manipulation it was to weak to survive, economic evolution.

Futhermore:

- It's important IMO that 0.00365 (2nd fibonacci from 0.00231->0.00581) is not violated, because that would question the legitimacy of the uptrend, and lead to increased selling towards lower lows - something which us whales can prevent (but do we want?)

I can't find any manipulation in that. There's no mandatory level to catch up selling pressure.

[Neo.op]

Risto have you ever looked into protoshares - angelshares - bitshares?

Thanks

Not directed at me but I hold a good amount in those. My problem with the whole ecosystem is the screwed up distribution system:

It was actually supposed to be:
1 PTS = 1.28 BTS

Dev's incompetence meant 3I couldn't mine as many as PTS they wanted. So, the new plan became:
1 PTS ~ 2 AGS = 2 BTS for you (rough estimate)

and
1 PTS = 1.28 BTS for 3I (what the f**)

So basically creating 1 share out of thin air.

1 PTS = 2 BTS for you + 1.28 BTS for 3I

Say I open an IPO asking you to donate BTC to me. Each BTC will be awarded 1000 coins each. So basically you would think:
1 BTC = 1000 N coins

but then I say, I too have a BTC which you donated so from the same BTC,

Donate BTC = 1000 N coins to me as well
that is,
1 BTC = 2000 coins = 1000 to you and 1000 to me

That doesn't sound correct.

[binaryFate]

Not sure the downtrend/consolidation will last several days. For me we're more likely to go >0.0055 again within 24h than not.

[dnaleor]

Not sure the downtrend/consolidation will last several days. For me we're more likely to go >0.0055 again within 24h than not.

i have the same feeling. The attention on monero is rising.

[dgarcia]

Not sure the downtrend/consolidation will last several days. For me we're more likely to go >0.0055 again within 24h than not.

i have the same feeling. The attention on monero is rising.

I would be positively surprised, if there's coming a longer consolidation or even lower lows.

[Brilliantrocket]

Here's my (kind of obvious, I'd say) explanation for why Monero goes through these pump and dump cycles. If the price begins to go up, mining becomes more profitable. Botnets or other big miners move in. They dump when the price is high, thus the price falls until the cycle repeats.

[Its About Sharing]

Ben Lawsky's comments yesterday really are going to push the anonymous coins to the forefront imo, but I think we all saw that coming.

Strongly suggest reading Eric Voorhees article regarding that here. (Glad this guy has a ton of BTC)
http://moneyandstate.com/reflections-right-privacy-response-nydfs-bitcoin-proposal/

[dgarcia]

Ben Lawsky's comments yesterday really are going to push the anonymous coins to the forefront imo, but I think we all saw that coming.

Indeed. After reading it, the scenario where bitcoin and an anon coin will exist side by side, both fulfilling different requirements became more probable than ever.

[nioc]

This is not regulation only for btc but for all "virtual" currencies.  It applies not only to btc exchanges but to the alt exchanges as well.  Yes this is NYS regulation (for now) but never the less it will have significant and immediate impact far beyond NY.

[devphp]

This is not regulation only for btc but for all "virtual" currencies.  It applies not only to btc exchanges but to the alt exchanges as well.  Yes this is NYS regulation (for now) but never the less it will have significant and immediate impact far beyond NY.

The only exchanges this has no effect on is decentralized exchanges, they could care less.
By the way, there is no XMR<->NXT gateway on NXT AE yet, a profit opportunity for XMR believers.

[tacotime]

This is not regulation only for btc but for all "virtual" currencies.  It applies not only to btc exchanges but to the alt exchanges as well.  Yes this is NYS regulation (for now) but never the less it will have significant and immediate impact far beyond NY.

2-way peg will turn every current blockchain into a sidechain of Bitcoin and vice versa, and will enable totally decentralized trading. It'll be interesting to see what the regulators think of that.

Of course, anyone mining blocks is essentially already acting as a handler of money for a third party mining blocks too. The legacy banking system is really struggling with this.

[aminorex]

and lead to increased selling towards lower lows - something which us whales can prevent (but do we want?)

Can we just let anything grow organically? people or manipulators like you are the plague which will prove to be the fall of crypto

Every order on an open book is manipulation.  You cannot accumulate XMR without moving the price -- even a dark book would still impact the market, but an open book has more (but different) impact.  There is nothing wrong with this kind of manipulation.  It is unavoidable.

Manipulation which is tortious (bad manipulation) is stuff like self-dealing, or generally dis-informing the public (either in the market by posting orders which cannot be executed against, or via side-channels, such as press releases about flaws in the protocol).

[Este Nuno]

The only exchanges this has no effect on is decentralized exchanges, they could care less.
By the way, there is no XMR<->NXT gateway on NXT AE yet, a profit opportunity for XMR believers.

Surprising. Might be a nice way to make some extra money if XMR keeps growing.