[XMR] Monero Speculation

[G2M]

So you also think this is not a bargain price to buy Monero currently?

I think what I think has little impact on the market, I'm merely speculating based on my wish of increasing my holding but willing to gamble that if it goes higher I'll pay the price.

If we have enough people like you and me who thinks the price will go down, it will eventually do it. It works like self fulfilling prophecy first and once the dump starts, it changes into a falling snowball. Seen this so many times already. 

That would be at least three of us then ..

I already stated I was bearish 2 days before risto's announcement.

If I was even kidding a little bit before .. well now I'm about 45% more bearish.

Admittedly, the rise in price was nice, and there's definitely at least a couple of new people posting .. but the price still went up 45% in a week. That's a whole lot. Enough that it would be insane to not take profit in any other non-crypto market.

Just still so much made per day ATM..

I mean .. the announcement to purchase about 2 weeks of XMR emission at market prices was nice, but now we've got a little over a week of emission that resurfaced with the mintpal recovery .. so not much looks like it's going to change, especially if he's already bought last weeks emission during the rise.

[GreekBitcoin]

How about you three put some sell orders at 0.00165-0.0017 to drive the price down? After all in a bearish market noone will buy them

[TrueCryptonaire]

If I bought my trading position back now, I would be profiting in terms of Moneros.
However I am not buying them back this high.

[rpietila]

I am not the one pushing it up, why would I do it? I can wait very well.

What you should know, however, is that as long as Monero is very small, even the collective of all XMR holders have almost nothing to say concerning the price development. The combined purchasing power of the buyers is always much greater, and even a small number of buyers exercising this power trumps all attempts to cap it.

This by the way is the reason why all coins surge spectacularly and then slowly go down.

[TrueCryptonaire]

How about you three put some sell orders at 0.00165-0.0017 to drive the price down? After all in a bearish market noone will buy them

I dumped my trading position exactly on these price points actually.
If I am unable to buy lower, so be it. Then I just hodl btc but if I am able to buy lower, I consider doing it.

[lyth0s]

I'm honestly surprised though that people's idea of future success of a coin/stock/etc is based on its recent price performance. I think this ideology comes from stock brokers trying to increase the trading frequency so that they can make gains on trading fees and then the rest of wall street just follows these ideas and publish TA etc. Does anyone look at the fundamentals and invest for the long term gains anymore?

2 years ago I day traded stock and came out with 16% gains over the year, which I was happy with and then paid short term capitals gains...which I was unhappy with.

Last year I just put my money in an index fund, made 14% effortlessly and when I sell I will pay long term capital gains tax, both of which are much more convenient.

I ended up saving time, paid less in taxes, paid less in transaction costs and had a higher net gain.

Look at the fundamentals of Monero and determine if $0.33/XMR is at, above or below its current and future value and plan to buy/sell/hold accordingly.

I sure wish I bought bitcoin at $0.33/BTC 

[KennyTheMartian]

How about you three put some sell orders at 0.00165-0.0017 to drive the price down? After all in a bearish market noone will buy them

The price went up too fast, eat up some of those sell walls and see where it goes because it looks like xmr is falling and btc is rising. Sorry I had to sell some of my xmr holdings, will hold the remaining and be on standby as I won't dump my remaining stash.

[rpietila]

Since everybody including me wants XMR to take a breather at 11, 13, 14, or 15, what do you think, is it going to do it?

[David Latapie]

As for point three, true, but what good is a ledger of tx's if the whole thing is obscured as to origin?

Very good: Monero presentation, Coinfest Estonia 2015 (page 3, especially latest point on miners censoring)

A similar concern with Monero (and any PoW coin) is mining centralization: if an entity can control the 2 or 3 largest mining pools, then the entire network can be compromised. It's a problem that definitely will become an issue in the future if not addressed. Again, I think this is fundamental design issue with the winner-take-all approach to block rewards. I don't have a solution

The Three Pillars of Monero, especially the "decentralisation" section

As a rule, that secure company becomes corrupted through force or greed or subversion of some kind,  sooner or later.

Satoshi on 17th January 2009:

You know, I think there were a lot more people interested in the 90's, but after more than a decade of failed Trusted Third Party based systems (Digicash, etc), they see it as a lost cause. I hope they can make the distinction that this is the first time I know of that we're trying a non-trust-based system.

[nioc]

just multiply your own max position by 1000 and think what happens  )

But don't worry, it's not this week or month, I hope...

That's more XMR than will ever exist !! 

LOL  I wonder how many 5-6 figure holders there are.  What happened to statdude?

I haven't seen statdude here since shortly after he had a significant amount of btc stolen from blockchain.info.  I believe due in part to a compromised email.  He had a thread about it and although others seemed to know what was happening, I as usual was clueless. 

[pa]

just multiply your own max position by 1000 and think what happens  )

But don't worry, it's not this week or month, I hope...

That's more XMR than will ever exist !! 

LOL  I wonder how many 5-6 figure holders there are.  What happened to statdude?

I haven't seen statdude here since shortly after he had a significant amount of btc stolen from blockchain.info.  I believe due in part to a compromised email.  He had a thread about it and although others seemed to know what was happening, I as usual was clueless. 

If I remember correctly, he lost most of his XMR at Mintpal. . .

[wpalczynski]

I believe someone installed a keylogger on his PC therefore capturing his Blockchain.info wallet credentials and getting access to his email account to confirm withdrawals, unfortunately he had no cell phone 2FA enabled.  

Was he rumored to be a substantial XMR holder?

just multiply your own max position by 1000 and think what happens  )

But don't worry, it's not this week or month, I hope...

That's more XMR than will ever exist !! 

LOL  I wonder how many 5-6 figure holders there are.  What happened to statdude?

I haven't seen statdude here since shortly after he had a significant amount of btc stolen from blockchain.info.  I believe due in part to a compromised email.  He had a thread about it and although others seemed to know what was happening, I as usual was clueless. 

[wpalczynski]

just multiply your own max position by 1000 and think what happens  )

But don't worry, it's not this week or month, I hope...

That's more XMR than will ever exist !! 

LOL  I wonder how many 5-6 figure holders there are.  What happened to statdude?

I haven't seen statdude here since shortly after he had a significant amount of btc stolen from blockchain.info.  I believe due in part to a compromised email.  He had a thread about it and although others seemed to know what was happening, I as usual was clueless. 

If I remember correctly, he lost most of his XMR at Mintpal. . .

All of which Fluffypony along with the original mintpal team got back for him in the last couple of days.  He should have received an email about this unexpected recovery of funds.

[pa]

Selling my 5000 XMR mintpal account .

PM offers or skype me: thestatdude

Man I'm sorry.  They said XMR withdrawels would resume soon ...

Moolah seems to be MIA: https://twitter.com/MintPalExchange/status/523939006988701696

Mintpal said that Ryan has control of the funds. But this sounds like money to me and not all tokens. I do believe they sent out some tokens, not BTC though...
A decent chunk of money for me is there. I honestly would never have put the funds there if I had been able to get the wallet installed on my MAC but it
has been a headache for me. Then again, I would have bought more XMR had I been able to install the wallet (and the price has gone down since then)...
Looking forward to the GUI (with .dmg installation   )

Sad to hear that, but why did you choose for mintpal instead of poloniex? Liquidity of poloniex is ten times better.. I agree that installing the current wallet is a real pain in the ass. But hopefully tonights missives will bring some updates!

Yeah, the irony is i literally put that on mintpal as a hedge to poloniex scamming/shutting down, i never once traded there, thought V1 sucked.

I did withdraw about 1,000 to HITbtc right before V2 and thought about moving the whole wad.

Oh well, i knew better than to leave any coin on ANY fucking site. XMR was the only one i left anywhere because all the explanations to backup to paper wallet were quite technical and I hadn't set aside time to figure it out yet (but was planning to).

Trust me, I'll be moving the rest of my XMR off-line tonight.

Here's statdude's post on his xmr at Mintpal. . . hope he's been made whole!

[TrueCryptonaire]

I do not know if dumping is a good idea, but I do not know about (artificial) pumping neither.
In order to the growth being sustainable it definetely has to be slow. If the price spikes fast, it is not good (it feels bubblish). The price growth is very welcomed by the community (including me as I have a decent stack waiting for substantially more expensive Monero).
Monero needs well functioning OTC markets that gives liquidity to both ends, btc and xmr.
If the price rise is due to Risto's friends taking positions and they are strong hands, then also a bit higher price increase is welcomed.

The emission is high still (inflation rate is pretty high). It is not necessary high in terms of USD but rather in terms of inflation percentage. The current inflation annualized is roughly 85-90 %, which is almost ten times bitcoin's annual inflation.

If we want the price go up, there need to be salesmen selling this coin to new people. There need to be new markets for xmr. That is: Demand > emission + the interest in dumping coins ===> Price of Monero goes higher.

[dreamspark]

43k dump and 100btc wiped off the order books. Dont say you weren't warned.

[pandher]

Ba dam phissssss  

[Wexlike]

Quite interesting to see how sellers try to manipulate the confidence/price in this thread to buy lower. I'm not judging, it's just very interesting.

[onemorexmr]

Quite interesting to see how sellers try to manipulate the confidence/price in this thread to buy lower. I'm not judging, it's just very interesting.

i'll just continue buying dips... seems good atm

though 0.0013 is still possible i am confident we wont go lower (of course if someone here wants to proove me wrong i have no chance...)

[dreamspark]

Quite interesting to see how sellers try to manipulate the confidence/price in this thread to buy lower. I'm not judging, it's just very interesting.

Also interesting watching the buyers try to manipulate the price in this thread to sell higher. Im not judging either. Fact is nothing you say in this thread matters, its not actually going to effect the price. Always do your own due dilligence.