[XMR] Monero Speculation

[bobabouey2]

They took on five or ten times as many customers as they could handle.  And that's a thoroughly unsound, irresponsible way to do business.

They took on every customer they could when there was the demand, and then tried to figure it out... something pretty much every startup out there would do as well if given the opportunity.

Along the lines of "Better to beg forgiveness than ask permission."

If you want regulated and safer, stick with coinbase and gemini, which also means sticking with bitcoin, ethereum and litecoin.  And even then, customer service is pretty thin.

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[bobabouey2]

So anyone have any perspective on the Bytecoin rally?

[cAPSLOCK]

You know... with there being thousands in BTC volume traded daily.  Millions of dollars a day... there is only really one reason the price is resisting the greater trends in an amazing bull market where even known scam coins are growing orders of magnitude in value.

Someone is selling.

Our bull market is being quietly held down by someone or someones selling.

I believe it's that simple.

https://www.yahoo.com/tech/another-large-scale-cyberattack-underway-experts-194944965.html

Proofpoint said it has detected infected machines that have transferred several thousand dollars worth of Monero to the creators of the virus.

The firm believes Adylkuzz has been on the loose since at least May 2, and perhaps even since April 24, but due to its stealthy nature was not immediately detected.

"We don't know how big it is" but "it's much bigger than WannaCry", Proofpoint's vice president for email products, Robert Holmes, told AFP.

A US official on Tuesday put the number of computers infected by WannaCry at over 300,000.

"We have seen that before -- malwares mining cryptocurrency -- but not this scale," said Holmes.

Emphasis mine.

[jwinterm]

...

Emphasis mine.

There's only about 5400 XMR mined in total each day. Even if malwarists and botnetters were mining every coin that would be maybe like 50 BTC worth dumped per day. I mean, it's not nothing, but it's not much compared to volume across all exchanges.

[cAPSLOCK]

...

Emphasis mine.

There's only about 5400 XMR mined in total each day. Even if malwarists and botnetters were mining every coin that would be maybe like 50 BTC worth dumped per day. I mean, it's not nothing, but it's not much compared to volume across all exchanges.

True...

I find myself struggling to reconcile monero's price action vs the fundamentals.  Especially in light of the amazing shitcoin rally going on all around us.

[tclo]

Yes this is a joke. XMR isn't doing sh*t and every coin around it is rocketing upwards.  I think lack of a mobile wallet and the weak Windows wallet is just hurting it and there are newer, "hotter" coins that are shooting upwards.  But definitely missing out on the party being in XMR right now. 

[aminorex]

Being distracted by fad crypto can only dissipate my focus, and consequently dilute my expectations. What will I be able to keep through the troubles ahead?  What will retain value despite deflation, inflation, repression, taxation, extortion, fraud, bubbles, bail-ins and capital controls?  What is the most perfect money yet devised?  

I would much rather walk away from the quick buck than end up like, e.g. TrueCryptonaire, who will probably never have a fraction of the Monero he could have had simply by holding and waiting.  How many people rue the day they decided to time the Bitcoin market?  Where now, AmericanPegasus?

Let the players play.  Let them have their tulips, their south sea companies, and their postal reply coupons.  Greed caused even Isaac Newton to squander a fortune on such a scheme.  I prefer the calculus of rational expectations and sound fundamental laws.

I tried that road, and did not like where it was taking me. I have not yet seen anyone go that way and come back without looking much uglier, and smelling much worse.

[smoothie]

Yes this is a joke. XMR isn't doing sh*t and every coin around it is rocketing upwards.  I think lack of a mobile wallet and the weak Windows wallet is just hurting it and there are newer, "hotter" coins that are shooting upwards.  But definitely missing out on the party being in XMR right now.  

What will be entertaining is watching all of those rocketing coins around "us" explode when their pumps finish and then gravity kicks in.

These "hotter" coins are going to be just like a hot potato. Don't get caught holding it when the music stops.

Fireworks will be for the patient, popcorn will be free as well.

Stock up.  

[bitwolf]

Yes this is a joke. XMR isn't doing sh*t and every coin around it is rocketing upwards.  I think lack of a mobile wallet and the weak Windows wallet is just hurting it and there are newer, "hotter" coins that are shooting upwards.  But definitely missing out on the party being in XMR right now.  

I am since long time in the cryptovers to see many coins with 10-100x growth for a week and many 10-100x fall for a week. Monero has increased and with a reason 30 times its price in the last year. Monero is now greatly accelerating in terms of popularity and software development. Windows wallet GUI 2 quite good and stable. Mobile wallet coming soon. https://www.reddit.com/r/Monero/comments/64cxrm/looking_for_more_info/ . I know devs are working on instant transaction and multisig too.  Monero popularity on the current BTCC poll for next coin: https://twitter.com/bobbyclee/status/864155469899644928 .  Lots of other exchanges will follow.  I expect 10-50 times growth by the end of the year.

[smooth]

Yes this is a joke. XMR isn't doing sh*t and every coin around it is rocketing upwards.  I think lack of a mobile wallet and the weak Windows wallet is just hurting it and there are newer, "hotter" coins that are shooting upwards.  But definitely missing out on the party being in XMR right now. 

What will be entertaining is watching all of those rocketing coins around "us" explode when their pumps finish and then gravity kicks in.

These "hotter" coins are going to be just like a hot potato. Don't get caught holding it when the music stops.

Fireworks will be for the patient, popcorn will be free as well.

Stock up.   

What would be entertaining would be to dig out some exchanges from this thread from 2014 that were exactly the same. Some hot coin or another was always the new favorite on poloniex, one after another. Most of those coins are now dead and/or delisted.

[Dotto]

Dark and bullish

http://www.zerohedge.com/news/2017-05-17/cyber-attacks-are-perfect-trigger-stock-market-crash

[smoothie]

Yes this is a joke. XMR isn't doing sh*t and every coin around it is rocketing upwards.  I think lack of a mobile wallet and the weak Windows wallet is just hurting it and there are newer, "hotter" coins that are shooting upwards.  But definitely missing out on the party being in XMR right now. 

What will be entertaining is watching all of those rocketing coins around "us" explode when their pumps finish and then gravity kicks in.

These "hotter" coins are going to be just like a hot potato. Don't get caught holding it when the music stops.

Fireworks will be for the patient, popcorn will be free as well.

Stock up.   

What would be entertaining would be to dig out some exchanges from this thread from 2014 that were exactly the same. Some hot coin or another was always the new favorite on poloniex, one after another. Most of those coins are now dead and/or delisted.

When the dust settles....there is XMR still.

Fireworks produce lots of debris and dust. I suspect there will be only a few left standing.

Lots of "dumb money" entering the space.

[medusa13]

Major News: https://getmonero.org/2017/05/17/disclosure-of-a-major-bug-in-cryptonote-based-currencies.html

Monero chain controlled by devs and unnafected.

great Jobs from devs, this issue was handled as professionally as possible. also monero maybe made some friends in the process by playing fair.

[kurious]

Major News: https://getmonero.org/2017/05/17/disclosure-of-a-major-bug-in-cryptonote-based-currencies.html

Monero chain controlled by devs and unnafected.

great Jobs from devs, this issue was handled as professionally as possible. also monero maybe made some friends in the process by playing fair.

This is why I was drawn to Monero back in Spring 2014 and have never regretted it; the team behind it is just so... cool.

[bitwolf]

Major News: https://getmonero.org/2017/05/17/disclosure-of-a-major-bug-in-cryptonote-based-currencies.html

Monero chain controlled by devs and unnafected.

great Jobs from devs, this issue was handled as professionally as possible. also monero maybe made some friends in the process by playing fair.

This is why I was drawn to Monero back in Spring 2014 and have never regretted it; the team behind it is just so... cool.

Our devs could have (and still can) f****d up Bytecoin so high up their asses that they could't walk in a straight line for years.

[cryptimus prime]

Great job XMR devs, this is the last nail in Bytecoins coffin.

[smoothie]

Major News: https://getmonero.org/2017/05/17/disclosure-of-a-major-bug-in-cryptonote-based-currencies.html

Monero chain controlled by devs and unnafected.

great Jobs from devs, this issue was handled as professionally as possible. also monero maybe made some friends in the process by playing fair.

Bravo for the well handled issue that would have been devastating to XMR altogether should such information got into the wrong hands at the wrong time.

Very proud of the development team.

[LennyCarl]

Major News: https://getmonero.org/2017/05/17/disclosure-of-a-major-bug-in-cryptonote-based-currencies.html

Monero chain controlled by devs and unnafected.

great Jobs from devs, this issue was handled as professionally as possible. also monero maybe made some friends in the process by playing fair.

Wow! Proud of Monero!

Worth shorting bytecoin now? Currently up 70%...because news hasn't permeated everywhere, yet? I've never shorted before...
Nevermind, not possible on Poloniex.

Monero is kicking ass today so far (up 17%). Awesome!

I would like to take credit for this uptrend because yesterday I put in a buy order of 0.01407 just before the rise. Your welcome! 

[ROT13]

Yes this is a joke. XMR isn't doing sh*t and every coin around it is rocketing upwards.  I think lack of a mobile wallet and the weak Windows wallet is just hurting it and there are newer, "hotter" coins that are shooting upwards.  But definitely missing out on the party being in XMR right now.  

Anyone with half a brain should be able to figure out that it's coming sooner rather than later.  

There's a massive amount of volume to be exploited by whales, and anyone who has a substantial holding in crypto is very likely to have a decent bagholding.  With its very conservative chart performance in the past months compared to Dash, Etherieum, Litecoin, Factom etc a move that kicks in the FOMO on the appearance that this is the next biggie to go 5-10x would not be hard at all.  In the context of the meteoric rises that all the other major players have seen, it would then be trivial to establish a new resistance floor at .03 at the very minimum.  

HODL and be patient.  

[danimlg]

It is funny .... sold some xmr yesterday to diversify a little and we go up 20% lol. Anyway we should go a lot higher than 20%  in the coming months