[XMR] Monero Speculation

[smooth]

Interestingly the price of XMR in USD is still only 52.5c. Just not a big change really.

[GingerAle]

Interestingly the price of XMR in USD is still only 52.5c. Just not a big change really.

I surely thought there would be more fanfare around this price action. I think we have ourselves in a closed loop of "well its steady on USD" so when it goes down in BTC terms, there's confidence that its still holding value, and those that care about USD value don't understand all the moaning and groaning with the "ermagerd why's it dropping". And then when it goes up in BTC its because BTC is going down in USD, then the "BTC price is the only thing that matters" crowd gets very quiet.

* GingerAle confused

[dEBRUYNE]

Interestingly the price of XMR in USD is still only 52.5c. Just not a big change really.

I surely thought there would be more fanfare around this price action. I think we have ourselves in a closed loop of "well its steady on USD" so when it goes down in BTC terms, there's confidence that its still holding value, and those that care about USD value don't understand all the moaning and groaning with the "ermagerd why's it dropping". And then when it goes up in BTC its because BTC is going down in USD, then the "BTC price is the only thing that matters" crowd gets very quiet.

* GingerAle confused

I am a bit confused too, seems like a lot of traders are dumping Monero to catch the BTC train. It baffles me why, because if you simply hold on to your alts and do not dump them, the BTC ratio won't go down and therefore the USD value will increase as well.

Since 12:00 (UTC), when the BTC rally started, nearly 60k Monero was dumped.

EDIT: 4h candles show -7.54% for Monero (XMR/BTC) and +9.08% for Bitcoin (BTC/USD)

[Bassica]

Everyone who was complaining earlier about missing the boat, here's your second chance Currently seems like an overreaction tbh

[medusa13]

dont show fear now, now or never mustangs!!  

lets burn those shorters.

volume good(!!!), liquidity coming too. lets rock this

[dEBRUYNE]

I have no clue what just happened, what a rollercoaster.



Someone should make that for Monero.

[paratox]

I am a bit confused too, seems like a lot of traders are dumping Monero to catch the BTC train. It baffles me why, because if you simply hold on to your alts and do not dump them, the BTC ratio won't go down and therefore the USD value will increase as well.

I think some people are just trying to cause a little panic selling to buy lower, so they are using the recent pump of BTC as a trigger event.

Or maybe the dumpers believe the success of Monero depends on the failure of Bitcoin?

[GTO911]

From what i see, every shitcoin on Yuanbaohui is doing very high volume. Can anyone from China get in touch with them?

[Bassica]

The dump seems to have been completely rejected... It recovered very rapidly, forming some great looking formations on the 2h and 4h charts. If these were shorters, they still have to close their position (thus buy), which will be a big loss for them. Since the dumps happened at a lower point than we are at now, and considering the volume of the dumps, the prices to actually obtain those coins back again (asks) are considerably higher than the dump levels.

#Rekt? It seems like it

With these actions I see the wall at 0.00145 as an easy to overcome barrier. Good days for the monero-bulls!

[medusa13]

the data offered by poloniey sucks a lot (none)
and with the data on http://monerodice.pd.to/polo.php one can not really tell what happend.

but the changes have been small, so i doubt there will be a lot of leveraged shorts.

[Bassica]

Interestingly enough, xmr is creeping towards its market-cap all time high

http://coinmarketcap.com/currencies/monero/#charts

[Hueristic]

Surprised the rally tapered so fast, well looks like I gets me some more on the cheap.

[TPTB_need_war]

I have no clue what just happened, what a rollercoaster.

Surprised the rally tapered so fast, well looks like I gets me some more on the cheap.

Someday you guys will realize your time is worth more than this nonsense discussion about how you can be fooled by bid/ask walls and other non-statistics.

Anyone kicking himself for not having bought as much as they were planning to, during this long plateau we seem to leave now?

Short-term performance doesn't indicate anything about the future. Every rational speculator knows this.

I wanted to talk about serious planning and features to burst out of this nonsensical waste of time that crypto currency is stuck in. I will carry on that work in other more serious threads.

[tifozi]

zcash alpha has been launched

https://github.com/Electric-Coin-Company/zcash

http://www.wired.com/2016/01/zcash-an-untraceable-bitcoin-alternative-launches-in-alpha/

[dEBRUYNE]

zcash alpha has been launched

https://github.com/Electric-Coin-Company/zcash

http://www.wired.com/2016/01/zcash-an-untraceable-bitcoin-alternative-launches-in-alpha/

I'll just copy my reddit comment here:

I've made this list earlier:

List of possible pitfalls wrt ZeroCash/ZeroCoin:

[1] If ZeroCash/ZeroCoin is launched on behalf of a company, which seems the case here, the company can be given a gag order (e.g. to add a line of malicious code).

[2] If I recall correctly, the creator of the genesis block holds some kind of masterkey. As a result, you have to trust this person. Even if this key was held by a group, you still have to trust that particular group. In addition, you have to trust the program they run to create the Genesis block (the masterkey could be in there).

[3] It's too opaque in my opinion. If a bug existed that would create additional coins, there is no way you would see it.

[4] The math and cryptography backing it isn't peer reviewed yet and in an infancy stage.

[1] seems to be confirmed. They will be launching as a for profit company, see:

For its first four years online, a portion of every mined Zcash coin will go directly to Wilcox’s Zcash company

This could also invoke some legal issues, since they are basically not a decentralid currency and bear in mind they are **US** based (http://www.bizapedia.com/de/THE-ZEROCOIN-ELECTRIC-COIN-COMPANY-LLC.html). Just remember what happened with Ripple.

Basically, with Ring Confidential Transactions included in Monero it's basically pepsi vs coke (thanks to u/smooth_xmr for this analogy), where both have their advantages and disadvantages.

P.S. They are currently only on testnet, the "real-version" is at least 6 months away.

P.P.S. It seems like they transactions are also quit inefficient compared to Monero's. See this description on how to get from the basecoins (the transparent ones) to the zerocoins (anonymous ones):

This operation (called a pour) might take a minute or two depending on your hardware. It is producing a zero-knowledge proof. (This operation's performance will be improved in the coming months.)

[cryptodromeda]

I wanted to talk about serious planning and features to burst out of this nonsensical waste of time that crypto currency is stuck in.

I will carry on that work in other more serious threads.

What do you really expect from a speculation thread? Higgs boson?

***

I speculate BTC will continue to fall and Monero will surpass it's marketcap ATH.

[TPTB_need_war]

zcash alpha has been launched

https://github.com/Electric-Coin-Company/zcash

http://www.wired.com/2016/01/zcash-an-untraceable-bitcoin-alternative-launches-in-alpha/

Okay so this is not http://z.cash (which is the inferior zerocoin) and apparently is the real Zerocash! Wow. I am happy to see this in open source. Real progress at last. Maybe this is the reason for the dump of Monero?

I am happy to see this because I want to use something like this and also because I do not expect them to get the details correct on mining (no one has yet!). So there will be an opportunity to integrate this open source into a better block chain.

Major opportunities right now in crypto. Pick who you want to work with and pick carefully. I am looking for a few good men.

[wpalczynski]

I have no clue what just happened, what a rollercoaster.

Surprised the rally tapered so fast, well looks like I gets me some more on the cheap.

Someday you guys will realize your time is worth more than this nonsense discussion about how you can be fooled by bid/ask walls and other non-statistics.

Anyone kicking himself for not having bought as much as they were planning to, during this long plateau we seem to leave now?

Short-term performance doesn't indicate anything about the future. Every rational speculator knows this.

I wanted to talk about serious planning and features to burst out of this nonsensical waste of time that crypto currency is stuck in. I will carry on that work in other more serious threads.

That would be very very much appreciated.  Let us lowly folk discuss the price swings and short term market action.  Best of luck and thanks for moving to more serious threads.

[TPTB_need_war]

What do you really expect from a speculation thread? Higgs boson?

Correct. I have not seen a Monero technical thread often popping up in the top of the Altcoin Discussion listings (and the marketing thread seems to be troll thread), so apparently I didn't have another venue to try to reach the audience. Or maybe I am just unaware of the correct thread (even if I posted in it before) because Monero has so many threads I can't keep track.

That would be very very much appreciated.  Let us lowly folk discuss the price swings and short term market action.  Best of luck and thanks for moving to more serious threads.

Will do.

[GTO911]

Okay so this is not http://z.cash (which is the inferior zerocoin) and apparently is the real Zerocash!

They are the same

The Zerocash protocol is being developed into a full-fledged digital currency, Zcash.

BTW it is being developed by Zerocash Electric Coin Company

LOL!

Do we have to buy decentralized currency from coin companies??