[XMR] Monero Speculation

[meme magic]

guess its not so good an idea to bet against xmr, or anything, at rock bottom prices.

my loan was returned early in full about around 12 hours ago, btw. poor fella.

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[smooth]

XMR loan offered at 0.0051%.  Clearly somebody doesn't understand.  I get more than that on my bank account LOL

Sometimes those are auto renew. May have been set up a while back when the rates were much lower, and left unattended. Every time it is paid back it will continue to be offered again at the same low rate regardless of market conditions.

[smfuser]

XMR loan offered at 0.0051%.  Clearly somebody doesn't understand.  I get more than that on my bank account LOL

Where are you getting over 1.86% per year from a bank?

Of course, XMR loan rates should be much higher given the high risk of keeping funds at Poloniex.

[explorer]

XMR loan offered at 0.0051%.  Clearly somebody doesn't understand.  I get more than that on my bank account LOL

Sometimes those are auto renew. May have been set up a while back when the rates were much lower, and left unattended. Every time it is paid back it will continue to be offered again at the same low rate regardless of market conditions.

Understood, but the question remains.  What is the point of offering free loans?  Some may make a case for cheap loans.  But that is ridiculous.

[dEBRUYNE]

XMR loan offered at 0.0051%.  Clearly somebody doesn't understand.  I get more than that on my bank account LOL

Sometimes those are auto renew. May have been set up a while back when the rates were much lower, and left unattended. Every time it is paid back it will continue to be offered again at the same low rate regardless of market conditions.

Understood, but the question remains.  What is the point of offering free loans?  Some may make a case for cheap loans.  But that is ridiculous.

Greed or race to the bottom. Also a bit of game theory involved.

[Monerobuyer0]

Those low rate loans are from some guy who has had xmr in there for months and never changed the rate.  He just doesnt pay any attention to it. 

I am not loaning any XMR below .5% any more.  I miss out on some small gains sometimes, but then I am ready to catch the big lending rates when they happen, and they are worth WAY more.

[smooth]

XMR loan offered at 0.0051%.  Clearly somebody doesn't understand.  I get more than that on my bank account LOL

Sometimes those are auto renew. May have been set up a while back when the rates were much lower, and left unattended. Every time it is paid back it will continue to be offered again at the same low rate regardless of market conditions.

Understood, but the question remains.  What is the point of offering free loans?  Some may make a case for cheap loans.  But that is ridiculous.

If you are leaving your coins on there long term (not saying that is a good idea -- it isn't -- but many people do so anyway), you might as well, at least if you don't consider the risk of default to be significant.

[dEBRUYNE]

This article might interest some readers:

https://bitcoinmagazine.com/articles/zcash-ceo-zooko-discusses-privacy-and-efficiency-tradeoffs-vs-the-bitcoin-blockchain-1458829054

[dnaleor]

1 XMR = 1 BTC in the summer of 2017, IF this trend continues...



As always, NO GUARANTEES

[TheKoziTwo]

XMR loan offered at 0.0051%.  Clearly somebody doesn't understand.  I get more than that on my bank account LOL

Sometimes those are auto renew. May have been set up a while back when the rates were much lower, and left unattended. Every time it is paid back it will continue to be offered again at the same low rate regardless of market conditions.

Understood, but the question remains.  What is the point of offering free loans?  Some may make a case for cheap loans.  But that is ridiculous.

Imagine offering a 100k free 2-day loan and somebody takes it. After 2 days you change the rate to something much higher. The guy is now forced to pay very high rates or close his position. Not saying that is the case here, but it could be one justifiable reason for offering "free" loans.

[explorer]

XMR loan offered at 0.0051%.  Clearly somebody doesn't understand.  I get more than that on my bank account LOL

Where are you getting over 1.86% per year from a bank?

Of course, XMR loan rates should be much higher given the high risk of keeping funds at Poloniex.

2.5% limited offer savings account.  My chequing account is only 0.25% )  and that 1.86 is actually 1.58 after polo takes their cut.
  At that rate it will be pretty much 100% deployed all year, but a 5 day term at 0.5% will net more than a year at 0.005%.  If you have to wait 6 months to deploy the .5% loan, you are still ahead.  To each their own, I guess.

[iCEBREAKER]

in Litecoin's case, on "me too" tech that offers nothing to the ecosystem

You mean like how a hospital's secondary (backup) and tertiary (failsafe) generators are "me too" tech that offer nothing to the doctors and patients inside?

LTC stays in the 9 figure range because it works, and a 'generation' of (Chinese) bitcoiners were introduced to both at the same time.  LTC is the one made by a super-smart Chinese-American guy from a very successful family, which doesn't hurt at all for PR purposes....

And you are literally wrong, because LTC's additional tps capacity is next in line to absorb marginal use cases priced out (or timed out) of BTC.

Ridiculing scams like Dash is great fun and a public service, but I speculate we don't need to write obituaries for legitimate pure-proof-of-work blue-chip coins in order to promote our own.

[smooth]

Ridiculing scams like Dash is great fun and a public service, but I speculate we don't need to write obituaries for legitimate pure-proof-of-work blue-chip coins in order to promote our own.

I don't think he's promoting XMR by expressing skepticism about LTC. I felt the same way about LTC, for much the same reasons, before XMR existed, and he probably did too. Obviously I was wrong back then, in the sense that LTC is still here.

[explorer]

XMR loan offered at 0.0051%.  Clearly somebody doesn't understand.  I get more than that on my bank account LOL

Sometimes those are auto renew. May have been set up a while back when the rates were much lower, and left unattended. Every time it is paid back it will continue to be offered again at the same low rate regardless of market conditions.

Understood, but the question remains.  What is the point of offering free loans?  Some may make a case for cheap loans.  But that is ridiculous.

Imagine offering a 100k free 2-day loan and somebody takes it. After 2 days you change the rate to something much higher. The guy is now forced to pay very high rates or close his position. Not saying that is the case here, but it could be one justifiable reason for offering "free" loans.

That does make sense, as you would only have to catch a tiny portion of the rebound to make some money.  Or use it to manipulate market price and make your money there. 

[smfuser]

XMR loan offered at 0.0051%.  Clearly somebody doesn't understand.  I get more than that on my bank account LOL

Where are you getting over 1.86% per year from a bank?

Of course, XMR loan rates should be much higher given the high risk of keeping funds at Poloniex.

2.5% limited offer savings account.  My chequing account is only 0.25% )  and that 1.86 is actually 1.58 after polo takes their cut.
  At that rate it will be pretty much 100% deployed all year, but a 5 day term at 0.5% will net more than a year at 0.005%.  If you have to wait 6 months to deploy the .5% loan, you are still ahead.  To each their own, I guess.

Some such lenders may mistakenly think there is minimal risk of losing all their funds at Poloniex.

Do you mind saying which bank is paying the 2.5% savings rate?

[Hueristic]

It seems like the same user who just the other day made a reddit post titled "I get margin called at 254K...someone help now!" switched to a short and ended up getting margin called now during todays rally, losing 140 BTC.

From Trollbox:
Pepperpig: I was short XMR and lost 140 BTC on it
Pepperpig: I made 220 btc on ETH, and 140 btc loss on XMR
Pepperpig: I probaly caused the XMR moon

I think it's the same guy because he also wrote this

Of course there's no way to know if there is any truth to this, he could be just bluffing. But it sounds plausible to me. Easy come easy go.

This made me all warm and fuzzy inside thx!

http://www.polonibox.com/?username=Pepperpig

[dEBRUYNE]

MyMonero is back online.

https://mymonero.com/#/

[nioc]

On a scale of 1 to 10 how tempted am I to sell any Monero now?

0 

A couple of days ago I rethought my position being that the price was relatively high.  I had some btc acquired from poker so it's not like I could send it to CB   Instead I sent it to ShapeShift in exchange for Monero.  I'm used to placing bids and using SS is the same as buying asks so my rate was 334.  Lower than it had been the prior day or 2 and certainly lower than it would be in the future.  Today was a pleasant surprise

[iCEBREAKER]

Ridiculing scams like Dash is great fun and a public service, but I speculate we don't need to write obituaries for legitimate pure-proof-of-work blue-chip coins in order to promote our own.

I don't think he's promoting XMR by expressing skepticism about LTC. I felt the same way about LTC, for much the same reasons, before XMR existed, and he probably did too. Obviously I was wrong back then, in the sense that LTC is still here.

OK, so what have you learned from being spectacularly wrong about LTC for so many years?  How has that new information changed your assuredly well-informed and rigorously logical opinion?

Healthy skepticism about other coins in the XMR speculation thread is one thing.

Making the eleventy-millionth 'zomg LTC is totes useless and will die Soon amirite' post only invites others to bring up the digressive usual points about CNY/LTC volume, the desirability of redundant backups for critical systems, and overflow capacity for price/time sensitive use cases.

I'd rather celebrate XMR's victories than cast aspersions on LTC's viability.  We don't need to tear BTC/LTC down to raise XMR up.  It's not zero sum.  The crypto pie is growing so fast that all legit/useful/innovative projects may have a nicely sized slice.

[nioc]

Oh my, 22 btc sell wall @420 eaten in 3 minutes

Now a 4.20 btc sell at 420 just placed, cute.