[XMR] Monero Speculation

[rangedriver]

I am not a big Monero supporter but I own some coins. It is very hard to understand why the coin shows such weakness when Bitcoin and most other coins are increasing their values over the last days/weeks. It seems to me that investors are selling their Moneros in oder to get into the other coins to jump on the pumping train.

As for the weakness thing, I think you're getting confused with 'low price'. Most people would agree that Monero is currently very cheap, but as for being a coin that 'shows weakness' this can't literally be true, as Monero is currently the market leader in respect of private currencies. Demonstrably, the most respected with the largest community at any rate.

There's no evidence to suggest that 'investors are selling Moneros to get other coins', outside of the normal market noise that trails BTC bull-runs. The nearest private competitor, Dash, has substantially less volume in regard to the buy books, and that remains the case semi-permanently irrespective of BTC. The conclusion is that a lot of whales are waiting for the true XMR floor to materialise, at which point the price will ascend.

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[smooth]

I am not a big Monero supporter but I own some coins. It is very hard to understand why the coin shows such weakness when Bitcoin and most other coins are increasing their values over the last days/weeks

This is simply not true, unless you are measuring value against USD in which case XMR has gained valued as well.  Here is the current 30-day price change for alts (ordered by 24-hour volume) on bitcoinwisdom.com. The second from the top is XMR (#1 is LTC). As you can see there are some green but most are red. BTC is up 36% during that time period so anything down less than 27% has retained or gained value vs. USD.

[newb4now]

Rpietila has done quite a lot of that already. Next to Crypto Kingdom, he also donated quite a lot to the dev team.

Yeah, and I have probably donated more of my time than some of the devs (CK has been a 50+ hour per week project for most of its existence of 1+ year).

But no way anyone could buy my time anyway... I do what I feel needs to be done. When I lectured in the former high school, I paid my trips even. But as a result, today the teacher promised she will be showing videos about Bosnian Pyramids to the students  

I don't believe too many highschools include Bosnian Pyramids in the history. This is what I like to do.

Your CK efforts have been great for Monero. I hope the game exceeds all of your expectations.

[nioc]

Is there a way to top up without going via BTC ?

CNY on BTER

OTC for some sort of fiat (or non-BTC crypto) payment

EDIT: Poloniex XMR pairs, including vs. USDT. (Thanks macsga, I forgot those.)

AltQuick

[smooth]

Is there a way to top up without going via BTC ?

CNY on BTER

OTC for some sort of fiat (or non-BTC crypto) payment

EDIT: Poloniex XMR pairs, including vs. USDT. (Thanks macsga, I forgot those.)

AltQuick

Thanks! I didn't even know that existed nor that they offer Monero. Has anyone used it?

[macsga]

Is there a way to top up without going via BTC ?

CNY on BTER

OTC for some sort of fiat (or non-BTC crypto) payment

EDIT: Poloniex XMR pairs, including vs. USDT. (Thanks macsga, I forgot those.)

AltQuick

Thanks! I didn't even know that existed nor that they offer Monero. Has anyone used it?

https://www.altquick.co/buy-2.php?coin=XMR

Well, THAT'S interesting! This looks just like localbitcoins on steroids! Didn't know about this site as well... I'd be tempted to buy some XMRs from there but it looks like they want SEPA (which I'm not sure I can do since the capital controls in Greece have been in effect). Thanks Globb0 for the link!

@Smooth: you're welcome

[nioc]

I have used it.  They charge a 2% fee but you skip the fee for first buying btc.  You also get to use fiat directly which you can find in your couch or under your mattress.  There is usually not that much liquidity near market price and the price is usually ~1% high although I haven't checked them for over a month due to reasons.  Think of the liquidity more like Bittrex than Polo.

[americanpegasus]

Speaking of buying cryptocurrency locally, I have been in talks with the owner of a new p2p trade site (for bitcoin).  His plan is to facilitate sale/transfer of crypto without taking any cut, due to increasing local regulations.  
  
His reasoning is that with things like the BitLicense, local regulation will only get worse and it will be hard to impossible to keep up with all the requirements of being a money exchanger/dealer across these territories.  So his idea was to generate revenue exclusively through advertising.  
  
The moment I heard the name, "Bitcoins Pronto" I thought that even though that's where the volume is right now, eventually it will be amazing to have a Monero Version.  
  
So http://www.bitcoinspronto.com/ is a thing, but hopefully over time we can convince the owner to also open MoneroPronto, because honestly that sounds a lot more pleasing to the ear.

[jehst]

It looks like lots of Chinese are getting sucked into this ponzi scheme. Look at these videos. You can see all the transfers are done in bitcoin:
https://www.youtube.com/watch?v=Ni68D5vwz2Q
https://www.youtube.com/watch?v=kmcCN31qQAo

Look at the dates.

They are using bitcoin to send payments to other participants.

[dEBRUYNE]

It looks like lots of Chinese are getting sucked into this ponzi scheme. Look at these videos. You can see all the transfers are done in bitcoin:
https://www.youtube.com/watch?v=Ni68D5vwz2Q
https://www.youtube.com/watch?v=kmcCN31qQAo

Look at the dates.

They are using bitcoin to send payments to other participants.

As long as the price goes up it will work :-P Anyway, Bitcoin already had enough bad publicity. I am quite sure it could handle this as well. It's not like you can do anything to stop it.

[wpalczynski]

It looks like lots of Chinese are getting sucked into this ponzi scheme. Look at these videos. You can see all the transfers are done in bitcoin:
https://www.youtube.com/watch?v=Ni68D5vwz2Q
https://www.youtube.com/watch?v=kmcCN31qQAo

Look at the dates.

They are using bitcoin to send payments to other participants.

As long as the price goes up it will work :-P Anyway, Bitcoin already had enough bad publicity. I am quite sure it could handle this as well. It's not like you can do anything to stop it.

Finally!!!  The holy grail Bitcoin killer app everyone has been waiting for!!

[jehst]

It looks like lots of Chinese are getting sucked into this ponzi scheme. Look at these videos. You can see all the transfers are done in bitcoin:
https://www.youtube.com/watch?v=Ni68D5vwz2Q
https://www.youtube.com/watch?v=kmcCN31qQAo

Look at the dates.

They are using bitcoin to send payments to other participants.

As long as the price goes up it will work :-P Anyway, Bitcoin already had enough bad publicity. I am quite sure it could handle this as well. It's not like you can do anything to stop it.

Finally!!!  The holy grail Bitcoin killer app everyone has been waiting for!!

A lot of people are going to get hurt

[wpalczynski]

It looks like lots of Chinese are getting sucked into this ponzi scheme. Look at these videos. You can see all the transfers are done in bitcoin:
https://www.youtube.com/watch?v=Ni68D5vwz2Q
https://www.youtube.com/watch?v=kmcCN31qQAo

Look at the dates.

They are using bitcoin to send payments to other participants.

As long as the price goes up it will work :-P Anyway, Bitcoin already had enough bad publicity. I am quite sure it could handle this as well. It's not like you can do anything to stop it.

Finally!!!  The holy grail Bitcoin killer app everyone has been waiting for!!

A lot of people are going to get hurt

Ponzi participants, sure.  However this buying frenzy could be just the thing to push us into another longer bull run.

[jehst]

It looks like lots of Chinese are getting sucked into this ponzi scheme. Look at these videos. You can see all the transfers are done in bitcoin:
https://www.youtube.com/watch?v=Ni68D5vwz2Q
https://www.youtube.com/watch?v=kmcCN31qQAo

Look at the dates.

They are using bitcoin to send payments to other participants.

As long as the price goes up it will work :-P Anyway, Bitcoin already had enough bad publicity. I am quite sure it could handle this as well. It's not like you can do anything to stop it.

Finally!!!  The holy grail Bitcoin killer app everyone has been waiting for!!

A lot of people are going to get hurt

Ponzi participants, sure.  However this buying frenzy could be just the thing to push us into another longer bull run.

True. A ponzi scheme accumulated 20% of all LTC in one address (https://coinplorer.com/LTC/Addresses/34Ae29qWAhGGTw3cSNkPygiwsgKbbCatou?skip=40) this year. These things can be incredibly powerful once they get going.

[ArticMine]

...

Little remark, it was either September 15, 2015 or October 15, 2015 if I recall correctly. However, since we passed both already your argument is still valid and furthermore I agree with it.

It's quite simple, mr manipulator and the bears will be able to determine the price (+control the market) until we have a new release.

Well Mr. Manipulator sure has a taste for hammers. One more red one in the daliy chart.

[smooth]

It looks like lots of Chinese are getting sucked into this ponzi scheme. Look at these videos. You can see all the transfers are done in bitcoin:
https://www.youtube.com/watch?v=Ni68D5vwz2Q
https://www.youtube.com/watch?v=kmcCN31qQAo

Look at the dates.

They are using bitcoin to send payments to other participants.

There is smoke, but I'm not sure fire. Those videos appear to be there for promotional purposes but look at the low view counts. They could be mirrored on a Chinese video site though.

[jehst]

It looks like lots of Chinese are getting sucked into this ponzi scheme. Look at these videos. You can see all the transfers are done in bitcoin:
https://www.youtube.com/watch?v=Ni68D5vwz2Q
https://www.youtube.com/watch?v=kmcCN31qQAo

Look at the dates.

They are using bitcoin to send payments to other participants.

There is smoke, but I'm not sure fire. Those videos appear to be there for promotional purposes but look at the low view counts. They could be mirrored on a Chinese video site though.

Youtube is blocked in China. So the view counts don't mean much.

EDIT: We also have Bobby Lee saying that ponzi participants are buying "like crazy" but he hasn't put a number on it.
http://www.coindesk.com/bitcoin-price-breaks-260-to-hit-two-month-high/

[wpalczynski]

It looks like lots of Chinese are getting sucked into this ponzi scheme. Look at these videos. You can see all the transfers are done in bitcoin:
https://www.youtube.com/watch?v=Ni68D5vwz2Q
https://www.youtube.com/watch?v=kmcCN31qQAo

Look at the dates.

They are using bitcoin to send payments to other participants.

As long as the price goes up it will work :-P Anyway, Bitcoin already had enough bad publicity. I am quite sure it could handle this as well. It's not like you can do anything to stop it.

Finally!!!  The holy grail Bitcoin killer app everyone has been waiting for!!

A lot of people are going to get hurt

Ponzi participants, sure.  However this buying frenzy could be just the thing to push us into another longer bull run.

True. A ponzi scheme accumulated 20% of all LTC in one address (https://coinplorer.com/LTC/Addresses/34Ae29qWAhGGTw3cSNkPygiwsgKbbCatou?skip=40) this year. These things can be incredibly powerful once they get going.

From what Ive been reading this russian guys ponzi is way bigger.  Apparently people lost around 30-40 billion dollars like ten years ago in another of his ponzi schemes.  The current ponzi is already well established in many countries, running for 5 years but only recently turned to Bitcoin due to likely banking issues (LOL).  There is a very large participant user base already involved and now they are being forced to use Bitcoin.

[dEBRUYNE]

It looks like lots of Chinese are getting sucked into this ponzi scheme. Look at these videos. You can see all the transfers are done in bitcoin:
https://www.youtube.com/watch?v=Ni68D5vwz2Q
https://www.youtube.com/watch?v=kmcCN31qQAo

Look at the dates.

They are using bitcoin to send payments to other participants.

There is smoke, but I'm not sure fire. Those videos appear to be there for promotional purposes but look at the low view counts. They could be mirrored on a Chinese video site though.

Youtube is blocked in China. So the view counts don't mean much.

EDIT: We also have Bobby Lee saying that ponzi participants are buying "like crazy" but he hasn't put a number on it.
http://www.coindesk.com/bitcoin-price-breaks-260-to-hit-two-month-high/

OKCoin put out a warning as well -> https://www.reddit.com/r/BitcoinMarkets/comments/3qd7cc/this_week_at_okcoin_china_update_mmm_ponzi/

[jehst]

It looks like lots of Chinese are getting sucked into this ponzi scheme. Look at these videos. You can see all the transfers are done in bitcoin:
https://www.youtube.com/watch?v=Ni68D5vwz2Q
https://www.youtube.com/watch?v=kmcCN31qQAo

Look at the dates.

They are using bitcoin to send payments to other participants.

As long as the price goes up it will work :-P Anyway, Bitcoin already had enough bad publicity. I am quite sure it could handle this as well. It's not like you can do anything to stop it.

Finally!!!  The holy grail Bitcoin killer app everyone has been waiting for!!

A lot of people are going to get hurt

Ponzi participants, sure.  However this buying frenzy could be just the thing to push us into another longer bull run.

True. A ponzi scheme accumulated 20% of all LTC in one address (https://coinplorer.com/LTC/Addresses/34Ae29qWAhGGTw3cSNkPygiwsgKbbCatou?skip=40) this year. These things can be incredibly powerful once they get going.

From what Ive been reading this russian guys ponzi is way bigger.  Apparently people lost around 30-40 billion dollars like ten years ago in another of his ponzi schemes.  The current ponzi is already well established in many countries, running for 5 years but only recently turned to Bitcoin due to likely banking issues (LOL).  There is a very large participant user base already involved and now they are being forced to use Bitcoin.

Apparently some MMM participants were accepting BTC in 2012 (!)

https://bitcointalk.org/index.php?topic=77276.0

But I'm not sure if that was official or if it was just some participants. Or maybe even copycats.