[XMR] Monero Speculation

[kurious]

Is there any explanation why BTCs down movement triggered a down movement for XMR?

Yes it was interesting to see the price of Monero mirror the price of Bitcoin during the drop.
Anyone have an explanation why the price has been so closely tied to the value of Bitcoin?

It got that way from just before the time of the GUI release - we started to maintain price at (roughly) 0.015 all the way up as BTC increased masively.

It meant we increased in value in USD terms hugely - to an ATH level.

Right now I wish we were maintaining USD levels as BTC drops, but we cannot have it both ways!  It does mean BTC up, both up, but conversely is seems BTC down, XMR down.  We're looking pegged to BTC, so we no longer have that hedge position of inversely related moves we used to have.

It's probably XMR now being in the top 3 or 4 alts - we are now more subject to crypto market sentiment overall.

It may change, but it is a distinct realignment for now.  Maybe is is because XMR has grown up.

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[mnemonicsoup]

I guess, you're right. What's just interesting is that the BTC down movement came from China but not XMR as China is just starting to discover it.

And what's also interesting is that on Poloniex basically all alts are up and only XMR is down.

Perhaps it's a bear trap.

[kurious]

I guess, you're right. What's just interesting is that the BTC down movement came from China but not XMR as China is just starting to discover it.

And what's also interesting is that on Poloniex basically all alts are up and only XMR is down.

Perhaps it's a bear trap.

Hard fork on Tuesday may be a factor - but we have been remarkably steady against BTC and vastly more stable than most alts all the way up through massive fluctuations in BTC and other alts.

It does not make XMR look bad. On the contrary.

[mnemonicsoup]

Yes, I agree, wasn't implying that it's bad.

Just found it interesting.

[OrangeP]

I'm sorry, but what is Monero besides an anonymous (which BTC/LTC will be anyways) pump and dump manipulated scheme by only the darknet markets and poloniex?  Something like 1% of DNM vendors accept monero.... no one uses it.. and no one NEEDS it.
Another fairy dust coin people are just gambling on.  It's OK to gamble on P&Ds but, i mean, I can see monero going away soon...

That 1% makes it the best altcoin out there without even mentioning the benefits of privacy and fungibility.

Monero/BTC is now normalizing to a healthy growth. I think I'll trade some BTC into Monero sometime soon.

[Hueristic]

Is there any explanation why BTCs down movement triggered a down movement for XMR?

Yes it was interesting to see the price of Monero mirror the price of Bitcoin during the drop.
Anyone have an explanation why the price has been so closely tied to the value of Bitcoin?

Profit taking (USD is strong atm), also chinese Gov warning that VC's are not currency.

A Few days back I predicted this.

...

I speculate thaT BTC WILL DROP SOON AND (FUCKING CAPS LOCK) xmr will drop a bit wirh profit taking so on the next spike I'm gonna convert to usd and rebuy on the btc low.

Lets see how this works out, last time i called it on the head but screwed my self by not having the capitol available to get back in! Lol...

[tifozi]

Is there any explanation why BTCs down movement triggered a down movement for XMR?

Yes it was interesting to see the price of Monero mirror the price of Bitcoin during the drop.
Anyone have an explanation why the price has been so closely tied to the value of Bitcoin?

Profit taking (USD is strong atm), also chinese Gov warning that VC's are not currency.

A Few days back I predicted this.

...

I speculate thaT BTC WILL DROP SOON AND (FUCKING CAPS LOCK) xmr will drop a bit wirh profit taking so on the next spike I'm gonna convert to usd and rebuy on the btc low.

Lets see how this works out, last time i called it on the head but screwed my self by not having the capitol available to get back in! Lol...

Odds of anyone saying that and being correct are high, sorry  . What did you do with that information that you had in advance? And is that the reason you are quoting yourself repeatedly?

[Hueristic]

Is there any explanation why BTCs down movement triggered a down movement for XMR?

Yes it was interesting to see the price of Monero mirror the price of Bitcoin during the drop.
Anyone have an explanation why the price has been so closely tied to the value of Bitcoin?

Profit taking (USD is strong atm), also chinese Gov warning that VC's are not currency.

A Few days back I predicted this.

...

I speculate thaT BTC WILL DROP SOON AND (FUCKING CAPS LOCK) xmr will drop a bit wirh profit taking so on the next spike I'm gonna convert to usd and rebuy on the btc low.

Lets see how this works out, last time i called it on the head but screwed my self by not having the capitol available to get back in! Lol...

Odds of anyone saying that and being correct are high, sorry  . What did you do with that information that you had in advance? And is that the reason you are quoting yourself repeatedly?

I see patterns and I am pointing out that I have been giving this type free advice for years and have not even been thanked once. Feel free to go back and find a incorrect prediction I have made, I don't remember any. Yet I see People shilling their bags and idiot n00bs listen to them and get crushed, I'm dumbfounded by this.

I have been trying to help n00bs from getting fleeced in this manipulated market but they chase the short term while missing the long.

AFA what I did was try to convert to usd on kraken but the bots continually beat me and all I did was push the price down so I stopped. I also bout a few more on the downslide but I had only a few bucks in btc so didn't get much and kraken teir 3 was too much of a pita to complete so I told them to fuck off. they complained I didn't put a date in the picture they made me provide, I guess I had missed that. Not to mention Kraken order book blows and their buy sell sucks as well, it doesn't even show your funds you have access to.

[pa]

A bright but risk-averse family member who bought bitcoin at $180 in 2013 to humor me and shut me up, spontaneously asked me how to buy Monero a few days ago. He also thanked me for getting him into this stuff, which is uncharacteristic. I've mentioned Monero to him perhaps three times since 5/2014, last time over six months ago. Not sure what that means, but it's data.

[Black Arrow]

Brian Armstrong, Coinbase CEO, on meeting with Fluffypony:

Awesome talk by by Riccardo Spagni from @monerocurrency at @coinbase HQ today. Impressed with Monero. @fluffyponyza Talk will be online soon

https://twitter.com/brian_armstrong/status/817452522767937536

Agree wholeheartedly.

Fluffy comes off as extremely honest, non-defensive, and competent. A few topics covered in this 55 minute presentation:

• Why privacy is important
• How to evaluate privacy tools
• Overview of how Monero functions technically
• TOR vs I2P
• History of Monero
• Future plans and directions of Monero
• An excellent Q&A session

[kurious]

A bright but risk-averse family member who bought bitcoin at $180 in 2013 to humor me and shut me up, spontaneously asked me how to buy Monero a few days ago. He also thanked me for getting him into this stuff, which is uncharacteristic. I've mentioned Monero to him perhaps three times since 5/2014, last time over six months ago. Not sure what that means, but it's data.

If he's smart, it just means the last time you mentioned a coin and he bought it, he has at least quadrupled his money - so he is taking notice of what else you suggested.

A relative working with me in 2013 remembered watching here with the rockets and fun as we rose up to the ATH.  He didn't buy BTC then, although I did suggest it again when it was way down low in the 200s.   We worked together again in the spring of last year and he got interested in Monero - he suggested I put a little of his wages into it for him.   He is incredibly grateful now, it was around 50c a pop at the time.

It's hard to recommend a purchase to anyone, they need to ask - you mention it's your new thing, they ask or they don't.  As no one will thank you if they lose money, they have to have open eyes and know there is a risk that it will totally wipe out.  But of course we talk and some of it strikes a chord.

It's great fun when it works out, though.

[tifozi]

I see patterns and I am pointing out that I have been giving this type free advice for years and have not even been thanked once. Feel free to go back and find a incorrect prediction I have made, I don't remember any. Yet I see People shilling their bags and idiot n00bs listen to them and get crushed, I'm dumbfounded by this.

Why not take revenge by shutting up completely and not offering any free advice at all since they all seem to be against you? I mean that prediction of yours that you keep repeating, I think it has been seen already so you have done your part.

Also not sure what anyone gets by going through post history. There has got to be a better way to utilize time. I remember you regretting selling way too early around the 0.007/8 mark during the runup to 0.026 last year and then frequently posting about wanting it all to come down over the next several weeks. I mean don't get me wrong, but probably noobs need to stay away from your free advice otherwise this whole thread would be full of people repeating the same thing over and over.

[KeyJockey]

Agree wholeheartedly.

Fluffy comes off as extremely honest, non-defensive, and competent...

Absolutely, a great presentation on all levels... well worth watching for anyone interested in XMR.

I was particularly impressed that Fluffy had the epic balls to good-naturedly use the example of coinbase closing someone's account due to bitcoin's fungibility failure... to this audience at COINBASE!!!

Oh, yeah, he "went there" and I personally LOL'ed when he did it.  Excellent speaking truth to power Mr. Pony... attaboy!

[megadeth]

Agree wholeheartedly.

Fluffy comes off as extremely honest, non-defensive, and competent...

Absolutely, a great presentation on all levels... well worth watching for anyone interested in XMR.

I was particularly impressed that Fluffy had the epic balls to good-naturedly use the example of coinbase closing someone's account due to bitcoin's fungibility failure... to this audience at COINBASE!!!

Oh, yeah, he "went there" and I personally LOL'ed when he did it.  Excellent speaking truth to power Mr. Pony... attaboy!

Didn't know fluffypony was such a good public speaker.
Great combination of technical details, humor and audience engagement.

[Hueristic]

...

Why not take revenge by shutting up completely and not offering any free advice at all since they all seem to be against you?

I am by pointing out when they are moving the market which in turn helps the n00bs to not get played.

I mean that prediction of yours that you keep repeating, I think it has been seen already so you have done your part.

This thread moves so fast things need to be repeated many times and are asked many times. If you think that people have all day to keep up with all these threads then your delusional.

Also not sure what anyone gets by going through post history. There has got to be a better way to utilize time. I remember you regretting selling way too early around the 0.007/8 mark during the runup to 0.026 last year and then frequently posting about wanting it all to come down over the next several weeks. I mean don't get me wrong, but probably noobs need to stay away from your free advice otherwise this whole thread would be full of people repeating the same thing over and over.

Nice cherry picked half truth you got going there. Actually I Announced I would be moving to USD because BTC was overbought and I exited at $1.37, the perfect time btw if you want to check. And posted when I called the re-entry point which was XMR again at $1.37.

Just because I had had to use those funds in real life and wasn't able to take advantage of my own advice does not make it wrong. Apparently you lack the skillset to comprehend that.

Ohh and BTW if my posts bother you then use the ignore, believe me I don't care.

FYI I play poker against the best in the world, so you nor anyone on the web can put me on tilt so don't waste your time.

Agree wholeheartedly.

Fluffy comes off as extremely honest, non-defensive, and competent...

Absolutely, a great presentation on all levels... well worth watching for anyone interested in XMR.

I was particularly impressed that Fluffy had the epic balls to good-naturedly use the example of coinbase closing someone's account due to bitcoin's fungibility failure... to this audience at COINBASE!!!

Oh, yeah, he "went there" and I personally LOL'ed when he did it.  Excellent speaking truth to power Mr. Pony... attaboy!

Didn't know fluffypony was such a good public speaker.
Great combination of technical details, humor and audience engagement.

Haven't you listened to any of the podcasts?
He's a natural speaker with a pretty cool accent and a non-aggressive demeanor, he's got all the hallmarks of a professional talking head.

ADDED: Anyone that wants to sell me $700 or so pm me.

[LennyCarl]

...

Why not take revenge by shutting up completely and not offering any free advice at all since they all seem to be against you?

I am by pointing out when they are moving the market which in turn helps the n00bs to not get played.

If you are REALLY interested in helping noobs, maybe talk to their level. Plus, I've seen other predictions by so called experts that have proven completely wrong so don't think we'd just blindly follow your calls. I do appreciate you trying to help but you need more tact.

[bbc.reporter]

Why is Monero following the rise and fall of bitcoin? I thought it was following its own path in this latest rise. Maybe the whales were only using the optimism in bitcoin and had the intention to dump the moment bitcoin started to crash?

[c789]

Why is Monero following the rise and fall of bitcoin? I thought it was following its own path in this latest rise. Maybe the whales were only using the optimism in bitcoin and had the intention to dump the moment bitcoin started to crash?

Monero is still higher than it was a few weeks ago. As for following Bitcoin, Monero's recent rise during Bitcoin's recent rise showed that XMR's value is not necessarily tied to BTC, although it is to some degree. At least it's not as directly tied to BTC's value as many other coins.

[Hueristic]

...

Why not take revenge by shutting up completely and not offering any free advice at all since they all seem to be against you?

I am by pointing out when they are moving the market which in turn helps the n00bs to not get played.

If you are REALLY interested in helping noobs, maybe talk to their level. Plus, I've seen other predictions by so called experts that have proven completely wrong so don't think we'd just blindly follow your calls. I do appreciate you trying to help but you need more tact.

Free advice that is verifiable does not need tact, if you don't like the way it's delivered then ignore it. How's that for tact?

Why is Monero following the rise and fall of bitcoin? I thought it was following its own path in this latest rise. Maybe the whales were only using the optimism in bitcoin and had the intention to dump the moment bitcoin started to crash?

Profit taking trigger to move to usd temporarily then re buy later. Always expect this after a large gain and expect a spectacular one when BTC is in free fall.

Don't worry it will bounce back, as has been said and I know you know, this is a long term hold. either try to ride the waves (which can be costly) or just ignore the bumps in the road.

[kurious]

Why is Monero following the rise and fall of bitcoin? I thought it was following its own path in this latest rise. Maybe the whales were only using the optimism in bitcoin and had the intention to dump the moment bitcoin started to crash?

Being pegged to BTC in the rise was a pretty good thing. It was possibly XMR being used to shuffle money in and out of BTC at certain points.

But I think you will see XMR doing its own thing again a little more....

EDIT: Nope - BTC dips, and so do we.   Damn.