[XMR] Monero Speculation

[Hueristic]

OK, Ontopic Dad.

So when do you guys think the profit takers will hit?

[coinits]

OK, Ontopic Dad.

So when do you guys think the profit takers will hit?

Soon as in right about now. Like was said earlier price can not support $17,000 per day emissions. Take a profit and retreat , regroup and buy again. If I am wrong I can still play this game until it is around $1 and then I hold everything. Until then I am accumulating through purchase and mining.

[lyth0s]

OK, Ontopic Dad.

So when do you guys think the profit takers will hit?

It has done a good job of being stable around 0.0025 to 0.0027 today. Not bad, not bad. No real massive dumps to tank the price.

[gilangIDR]

wow .. XMR strong community , good job dev
i hope price increase and any info for make WOW effect

[TrueCryptonaire]

Looks like Monero is building a support line.
If the bullish trend continues, the breakout of 0.003 should be violent and bloody (bloody from the side of Monero bears, obviously not bulls). 

[jehst]

Looks like Monero is building a support line.
If the bullish trend continues, the breakout of 0.003 should be violent and bloody (bloody from the side of Monero bears, obviously not bulls).  

0.0024x is now an area of support, but how will it fare against the sands of time?

Mid-term ( 2-3 month) emission is in the bears favor, and can slowly erode the price. At the same time, a short-term influx of investors would cause the price to go nuclear. A medium-term influx of investors will at least neutralize the emission. To accommodate all possibilities, I've set some .0015-.0016x bids and some very high asks. 0.003-0.004 is too low in the short term if new money shows up.

[TrueCryptonaire]

Looks like Monero is building a support line.
If the bullish trend continues, the breakout of 0.003 should be violent and bloody (bloody from the side of Monero bears, obviously not bulls).  

0.0024x is now an area of support, but how will it fare against the sands of time?

Mid-term ( 2-3 month) emission is in the bears favor, and can slowly erode the price. At the same time, a short-term influx of investors would cause the price to go nuclear. A medium-term influx of investors will at least neutralize the emission. To accommodate all possibilities, I've set some .0015-.0016x bids and some very high asks. 0.003-0.004 is too low in the short term if new money shows up.

I think even one guy working full time for hunting funds to support the price it is possible easily to hold the current levels, even higher in my opinion. Not to mention if more salesmen are recruited. The potential inflow of funds is large.
Monero needs an overcounter desk that is processing buy orders from sellers to friendly hand of long term hodlers.
I think it is possible for one guy maintaining 10 0000-20 0000 usd worth of sales on average in the long run.
Also given the fact that new emission is only 16200 xmr per day and it is declining all the time.

[Quicken]

This is one of the biggest days I can remember on Polo.
750+ BTC buy orders
620+ BTC Vol
+50 %

You need to look at this. We are a long way a way from the all time high of this coin. Even at current pump price it is still undervalued.

I am fully aware of the graphs, thanks. I started buying in June 2014, under 0.002. There were a few big days shortly after that, when the ATH was reached, but not many.

[Quicken]

To me the rally is due to the fact that there is very little people willing to sell at current prices.
Many, including me, are still underwater and we do not intend to sell at loss nor even profits that represent peanuts.
I am personally willing to see how this saga ends.
Will I become a millionaire or will I continue poorer than I would be if I would not invested into this.

I am up in BTC terms and breaking even in fiat now. My XMR are not for sale anywhere near these prices - none on an exchange.

[TrueCryptonaire]

To me the rally is due to the fact that there is very little people willing to sell at current prices.
Many, including me, are still underwater and we do not intend to sell at loss nor even profits that represent peanuts.
I am personally willing to see how this saga ends.
Will I become a millionaire or will I continue poorer than I would be if I would not invested into this.

I am up in BTC terms and breaking even in fiat now. My XMR are not for sale anywhere near these prices - none on an exchange.

Man, you are smart.
There is no rational point for selling Monero for peanuts when you can have potentially a huge price appreciation.

[GingerAle]

By my calculations, using current price and 15k / day emissions, if the price holds where we are, it will take ~51 days to hit Namecoin marketcap, just based on emissions.

(note, this doesn't take into account namecoin emissions

[mmortal03]

More direct Fiat/XMR exchange would help move XMR out of the whole "altcoin" space into that of a more "independent" currency.

This.

Speaking of, there is currently a Tether USD to XMR market on Poloniex. I also noticed that Bitfinex supports Tether USD, and that they are Tether's current exchange partner. Given that I am based in the United States and in one of the states that the Tether beta themselves isn't currently supporting, they instruct such individuals like me to access Tether through Bitfinex. Assuming that I can actually jump through Bitfinex's KYC hoops, will it be possible to deposit USD from a checking account to Bitfinex, then convert it to Tether USD, and withdraw it to Poloniex to buy Moneroj? What are the fees involved if this path is, indeed, possible?

There is no volume so it is a futile excersise. Why would you not buy with btc? How would you normally buy btc? Btw there is no real kyc for deposits to finex so wire transfer > finex > btc > xmr

When doing taxes, especially when using FIFO, buying bitcoins just to buy XMR is an extra tax event to have to calculate, where even immediately selling them for XMR can cause a short term capital gain or loss realization on *past* bitcoin purchases that you are holding, and that you'd, instead, want to continue to hold for *more* than a year. Even if you can argue to the IRS that you are using LIFO to avoid such short term capital gains/losses issue, it *still* doubles the amount of entries on your taxes that you have to calculate. (Each sale for each coin must be treated as if it was converted back to dollars for tax purposes, which is a headache.) It's just *so* much easier to keep each asset separate, where dollars are converted straight to XMR and XMR straight to dollars.

[GreekBitcoin]

Am i the only one that had gains with XMR even at 0.001 both in BTC and USD?

[pinky]

Am i the only one that had gains with XMR even at 0.001 both in BTC and USD?

Probably, because most were buying when price of btc and xmr was much higher. I am guessing but for majority breakeven price is around $400 BTC or $1 XMR.

[David Latapie]

Now we really need OTC markets to clean all these coins from the exchange into stronger hands. 

#monero-otc
https://www.moneroclub.com/

[3x2]

Code:

2015-03-11 14:22:00	Buy	0.00249999	11787.22847907	29.46795332

Some real buying going on Polo  
is 0.0024 the new bottom?

[David Latapie]

For instance, there could be Monero denominated IPO and with that money the created corporation buys different (fiat denominated) assets that are safe and brings cashflow (such as real estates with premium-cashflow) and then pays dividends in Moneros for instance monthly/quarterly.

There are already two:

• CKG (crypto-kingdom gold) - rpietila explained. And you don't need to play. You can 1) just deposit and wait 2) hire a wealth manager which will (hopefully) optimise your profits for a fee
• Cryptocoins-dice.com (investing, not gambling). The admin is legit, I have his phone number and I'll get his ID, we talked a lot and will physically meet (as well as a lot of other Bitcoiners to testify) on the 30th of March. Estimated APR (based on statistics for just-dice): 50% Sure, as long as multisig is not implemented in Monero, there are risks. Not that other assets like GAWminers are better.

[binaryFate]

For instance, there could be Monero denominated IPO and with that money the created corporation buys different (fiat denominated) assets that are safe and brings cashflow (such as real estates with premium-cashflow) and then pays dividends in Moneros for instance monthly/quarterly.

Cryptocoins-dice.com (investing, not gambling). The admin is legit, I have his phone number and I'll get his ID, we talked a lot and will physically meet (as well as a lot of other Bitcoiners to testify) on the 30th of March.

Sure, as long as multisig is not implemented in Monero, there are risks. Not that other assets like GAWminers are better.

Just reminding everyone the obvious: even if you know personally the third-party, you won't be able to tell the difference between a real, unfortunate but genuine hack, and a fake one, if this third-party ever claims to be hacked and lose coin.
Especially with XMR, there is not even the possibility to look at the blockchain to try to confirm/disprove claims.

In crypto history, a lot of third-parties holding people's coins lost them after a "hack" (true or false), even though the owners were and are still known nowadays.

[infofront]

Code:

2015-03-11 14:22:00	Buy	0.00249999	11787.22847907	29.46795332

Some real buying going on Polo  
is 0.0024 the new bottom?

That was originally a 13,000 XMR wall, and it was eaten in a matter of minutes.

[David Latapie]

kinda similar page on moneroeconomy.com

https://moneroeconomy.com/openbazaar

And "working coin as transaction currency". - it works. I've transacted.

It's full of spelling errors. Who runs this page?
I want to contribute by correcting some of them.

The owner of the project, Atrides.
But since I am admin here, I can correct the text.

1. Use this base http://pastebin.com/vTMTYRXn
2. Propose a diff here https://www.diffchecker.com/ (select "store one month")
3. Notify me

in germany private cash transfer are unlimited. most private car trades are made in cash (reasoning is if the seller claims insolvency he keeps the car and the money - with cash its not possible)

BUT:
 - many companies have limits (e.g. "Deutsche Post" 2500€)
 - you have to explain yourself to your bank when depositing (i even had to explain myself once when i sold gold (directly at my bank) for just(!) 500€)

but i think you are right that cash will be more restricted.

Paying you taxes with cash in France: 300 € maximum.

Yeah.