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birr
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June 16, 2016, 09:46:09 PM |
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ArcticMine,
Thanks for sharing.
But thank God, I never sought "appropriate professional advice"!
I would be living in poverty if I had done so.
Instead, I am contemplating a reasonably comfortable retirement.
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"Bitcoin: the cutting edge of begging technology." -- Giraffe.BTC
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Hueristic
Legendary
 Offline
Activity: 3808
Merit: 4898
Doomed to see the future and unable to prevent it
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June 16, 2016, 11:11:04 PM |
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... I see the market at this point as very complex and I can see why a simple commnet such as: I am with americanpegasus here. ... can lead to a misunderstanding. OK, wouldn't be my first reading comprehension fail!  The question that comes to my mind is are we going in to a Bitcoin bubble?
I made the assumption we all agree that btc is in a bubble. Your not so sure? The average joe doesn't care less about halving IMHO this is pure speculation with a big fat dump coming. If the answer is no then this is a scenario where moving into fiat with the idea of buying Monero in the future at a lower price in fiat terms than now may make some sense. Still even under this scenario there remains the risk of significant improvements in Monero such as the GUI and RingCT, keeping the fiat price of Monero above the current levels.
I am now under the assumption that xmr market is so manipulated that it can not break out until there is a massive influx I.E. Mass adoption. I am now acting under the premise that I will be able to see that trend and adjust accordingly as opposed to the normal bot manipulation which I actually have been doing pretty well against. My reasoning is the continual siphoning from the cap we see each and everyday non-stop. I'm surprised it can hold it's price as well as it does. If I didn't know better I would think coins are appearing from nowhere. If the answer is yes then my take is that we can learn from the past behaviors of alt coins in the 2013 Bitcoin bubbles. Litecoin is a good example; however this market behavior was by no means limited to Litecoin. I will start with both the LTC/XBT and LTC/USD charts going back to 2012. https://www.cryptocoincharts.info/pair/ltc/btc/btc-e/alltimehttps://www.cryptocoincharts.info/pair/ltc/usd/btc-e/alltimeNow compare this to XBT/USD also going back to 2011 https://www.cryptocoincharts.info/pair/btc/usd/bitstamp/alltimeThe salient points I see are: 1) Litecoin spikes with respect to Bitcoin at the same time as Bitcoin spikes with respect to USD. In effect Litecoin acts as a leveraged play on Bitcoin during the Bitcoin bubble. 2) The pre March 2013 Litecoin lows with respect to both USD and even XBT were not reached in the subsequent bear markets. Yes Litecoin fell from close to 50 USD to just over 1 USD in 2015, in a brutal bear market. This bear market, however, was not brutal enough to bail out a Litecoin "short" who sold LTC for USD in say February of 2013 with the intent of buying back into LTC after the bubble burst. 3) The Litecoin lows with respect to XBT and USD after the April 2013 and November 2013 bubbles were comparable. One possible scenario is that the April 2013 Bitcoin bubble brought a new awareness to Litcoin since it was the first bubble in Bitcoin after the creation of Litecoin. This could be relevant not just for Monero but also for those coins that were created in 2014 or later. I have no interest in LTC and would not expect XMR market to mirror any market except possibly itself. The bolded Qualifier is a perfect example of why acting on this is a bad idea. We don't invest on a "it could" situation. Are the markets the same now as in 2013? Of course not; however I see the differences as possibly magnifying this effect in the case of Monero. We have Bitcoin suffering with the blocksize debate and is already driving money into the alt-coins, with Ethereum being the most clear case. There is also of course the chance of some of the pending development work in Monero being completed in the interim. With all of this in mind I find the idea of holding fiat with the idea of buying Monero at a later date, creating an effective short position, an extremely risky proposition. It could work but it could also backfire badly. I hope you correct but I am certainly shorting btc vs xmr and xmr seems to like to settle at a pretty specific area vs usd so i'm pretty confident I will increase my holdings within 6 months. XMr will definitely teach you to play the long game.  Of course this must not be construed as investment advice and any long or short position in crypto currency should be considered extremly high risk and only undertaken after obtaining appropriate professional advice.
Disclosure: I do currently hold XMR, CAD and smaller amounts of XBT, NMC and USD.
Actually only a fiduciary is obligated to take your interests ahead of it's own when giving advice all the other "professional" advisors use you money to hedge their own investments. |
“Bad men need nothing more to compass their ends, than that good men should look on and do nothing.”
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smooth (OP)
Legendary
Offline
Activity: 2968
Merit: 1198
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June 17, 2016, 12:53:11 AM |
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If I didn't know better I would think coins are appearing from nowhere.
8600/day or so? |
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explorer
Legendary
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Activity: 2016
Merit: 1259
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June 17, 2016, 01:06:24 AM |
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If I didn't know better I would think coins are appearing from nowhere.
8600/day or so? Could be magic... I'm right in the middle of nowhere, and I assure you, they aren't coming from here. |
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bobabouey2
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June 17, 2016, 01:11:56 AM |
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Where's Risto? I would have expected the bitcoin surge would have led to some new Malla retreat discussions?
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generalizethis
Legendary
Offline
Activity: 1750
Merit: 1036
Facts are more efficient than fud
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June 17, 2016, 01:45:09 AM |
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Where's Risto? I would have expected the bitcoin surge would have led to some new Malla retreat discussions?
I think that time is being used for CryptoKingdom development. |
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TrueCryptonaire
Legendary
Offline
Activity: 1092
Merit: 1000
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June 17, 2016, 06:18:01 AM |
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For me it is irrelevant. If Monero moons, I am rich. If not, I do not care. I am not personally over invested in Monero and I do not suggest anyone to be as well. However, if Monero moons, it is nice to have a bag that will be worth of gold. Therefore, keep on good work buying/selling XMR and remember to borrow some coins along the way as well.  |
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birr
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June 17, 2016, 08:19:20 AM |
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Neither a borrower nor a lender be,
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry.
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eizh
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June 17, 2016, 08:39:16 AM |
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DAO hacked, apparently using recursive calls to split (i.e. withdraw ETH). Interesting times ahead. Crypto never fails to disappoint.
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ol92
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June 17, 2016, 08:46:39 AM |
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DAO hacked, apparently using recursive calls to split (i.e. withdraw ETH). Interesting times ahead. Crypto never fails to disappoint.
If the hack is as big as it seems revealing a core deficiency in the dao protocol, it could crash eth and investors may fall back to more traditionnal / sure cryptos such as XMR... |
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novag
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June 17, 2016, 08:48:21 AM |
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In the wake of the drain maybe people will start to invest in a more secure Monero coin.
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Donate for the support of a new Martial arts Style - Aikivindo = Aikido + Wing-Chun (in Ukraine) 5168757318423326 PrivatBank. http://aikivindo.com.uaBTC:1DpRaQjdVmrkSopRV8p9RdwvBMWNA9faCS |
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iCEBREAKER
Legendary
Offline
Activity: 2156
Merit: 1072
Crypto is the separation of Power and State.
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June 17, 2016, 09:03:48 AM |
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DAO hacked, apparently using recursive calls to split (i.e. withdraw ETH). Interesting times ahead. Crypto never fails to disappoint.
DASH, ETH, and DAO just got the wake-up call Monero received a year ago thanks to the Troll Block Attack. It's time they realized you don't skimp on security just because you are very, very eager to chase some fun new shiny thingy. This situation validates the XMR core devs' meticulous, careful approach. |
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Monero
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| "The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." David Chaum 1996
"Fungibility provides privacy as a side effect." Adam Back 2014
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acdc
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June 17, 2016, 09:09:59 AM |
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DAO hacked, apparently using recursive calls to split (i.e. withdraw ETH). Interesting times ahead. Crypto never fails to disappoint.
DASH, ETH, and DAO just got the wake-up call Monero received a year ago thanks to the Troll Block Attack. It's time they realized you don't skimp on security just because you are very, very eager to chase some fun new shiny thingy. This situation validates the XMR core devs' meticulous, careful approach. I agree! XMR looking extra dependable today! |
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Globb0
Legendary
Offline
Activity: 2674
Merit: 2053
Free spirit
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June 17, 2016, 09:20:46 AM |
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Now moon please  |
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Bassica
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June 17, 2016, 10:10:07 AM |
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THIS IS IT! Ladies & Gentlemen, this is what we have been waiting for. I would like to congratulate all the monero holders. You've been mocked, insulted, made fun of. But you've held up, you've been brave. And today is hte moment this will start to pay off.
If you are out of XMR right now, this is at your own peril! There has never been a better moment to buy.
Go green candles GO
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bitwolf
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June 17, 2016, 10:10:50 AM |
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Monero is best Digital Currency and will rule them all.  |
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rangedriver
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June 17, 2016, 10:57:52 AM |
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THIS IS IT! Ladies & Gentlemen, this is what we have been waiting for. I would like to congratulate all the monero holders. You've been mocked, insulted, made fun of. But you've held up, you've been brave. And today is hte moment this will start to pay off.
If you are out of XMR right now, this is at your own peril! There has never been a better moment to buy.
Go green candles GO
Agreed. This is the beginning of the beginning. |
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Attack.of.the.Clones
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June 17, 2016, 11:29:58 AM |
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THIS IS IT! Ladies & Gentlemen, this is what we have been waiting for. I would like to congratulate all the monero holders. You've been mocked, insulted, made fun of. But you've held up, you've been brave. And today is hte moment this will start to pay off.
If you are out of XMR right now, this is at your own peril! There has never been a better moment to buy.
Go green candles GO
Agreed. This is the beginning of the beginning. or maybe ...  |
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nioc
Legendary
Offline
Activity: 1624
Merit: 1008
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June 17, 2016, 02:14:32 PM |
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THIS IS IT! Ladies & Gentlemen, this is what we have been waiting for. I would like to congratulate all the monero holders. You've been mocked, insulted, made fun of. But you've held up, you've been brave. And today is hte moment this will start to pay off.
If you are out of XMR right now, this is at your own peril! There has never been a better moment to buy.
Go green candles GO
What? Did they release the GUI?  Anyways I'm looking forward to continuing to hodl. In other news; I will be off the grid for 3 days. I'm sure everything will be fine when I return.  |
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