[XMR] Monero Speculation

[Its About Sharing]

Monero still needs more volume... Bytecoin has more

Fake volume created by bots trading with each other on scam exchanges doesn't count. Coinmarketcap wouldn't remove it (why might that be?), but I will

Bytecoin Markets
Volume (24h)

$21941
$2049
$1

Total: $2050

Yeah, after that article on the Bytcoin scam regarding the Crypto news site I started checking Market Cap sites.
Why is Monero not even listed on any of these?

http://www.cryptocoinrank.com/
http://cryptmarketcap.com/
http://www.cryptocoincharts.info/coins/info

?

It is here though:
#7  https://www.coingecko.com/en
#15 http://coinmarketcap.com/

What is going on?

IAS

[shitaifan2013]

Monero still needs more volume... Bytecoin has more

Fake volume created by bots trading with each other on scam exchanges doesn't count. Coinmarketcap wouldn't remove it (why might that be?), but I will

Bytecoin Markets
Volume (24h)

$21941
$2049
$1

Total: $2050

Yeah, after that article on the Bytcoin scam regarding the Crypto news site I started checking Market Cap sites.
Why is Monero not even listed on any of these?

http://www.cryptocoinrank.com/
http://cryptmarketcap.com/
http://www.cryptocoincharts.info/coins/info

?

It is here though:
#7  https://www.coingecko.com/en
#15 http://coinmarketcap.com/

What is going on?

IAS

those are pretty low traffic marketcap sites I've honestly never seen before, so I don't think one should really care about them.

at the moment coingecko should be considered the most reliable/"trustworthy" marketcap site. coinmarketcap is a "little bit" suspicious 

[HCLivess]

So now it all makes sense. You thought ETH would go up 100x like NXT did, so you pumped XMR to sell it for ETH.
I hope everyone will remember this.

[XMRpromotions]

Close your eyes and imagine what money may look like in 5 years. I imagine a secure, fungible, electronic currency that protects my privacy.

https://twitter.com/XMRpromotions/status/630638166978920448

[GingerAle]

Monero still needs more volume... Bytecoin has more

Bytecoin Markets

Yeah, after that article on the Bytcoin scam regarding the Crypto news site I started checking Market Cap sites.
Why is Monero not even listed on any of these?

http://www.cryptocoinrank.com/
http://cryptmarketcap.com/
http://www.cryptocoincharts.info/coins/info

?

It is here though:
#7  https://www.coingecko.com/en
#15 http://coinmarketcap.com/

What is going on?

IAS

those are pretty low traffic marketcap sites I've honestly never seen before, so I don't think one should really care about them.

at the moment coingecko should be considered the most reliable/"trustworthy" marketcap site. coinmarketcap is a "little bit" suspicious 

From a glance at those websites, and searching for any cryptonote based coin, it seems those sites limit themselves to bitcoin clones. I mean, hell, one of them still references bytecoin as BTE, you know, the *other* bytecoin http://cryptmarketcap.com/marketcap/currency/bytecoin/

[generalizethis]

So now it all makes sense. You thought ETH would go up 100x like NXT did, so you pumped XMR to sell it for ETH.
I hope everyone will remember this.

Who are you talking to? Context clues (a name, a quotation or an arrow ^) would help.

[XMRpromotions]

I love xmr.to but please keep supporting shapeshift.io too! They offer conversions in both directions for many trading pairs.

Here is what Erik Voorhees said today:
@XMRpromotions @ShapeShift_io Thanks for the kind words I'm no expert on Monero, but I respect any coin that enhances financial privacy

https://twitter.com/ErikVoorhees/status/630747435459948544

[aminorex]

If you went long wheat on my advice, reduce, and buy more on the dip overnight (u.s.). stay long 4-5 days, best estimate, target 595.  eurgbp looks good too.  gold should continue up a while, but oil probably has another down leg before it follows.

Ether dumps could resume at any time, but I think btc bottom is either in or very close.  No sense in holding off on btc purchases now unless you foresee a bounce off a capitulation bottom at 255 or 240 -- but I don't think there's enough stress in the market to make any meaningful capitulation, personally.  If btc rises soon (not a prediction, a hypothetical) then xmrbtc should drop a bit, and I would tend to roll into xmr below 240k certainly.  Somewhat skeptical that it can get there though.

Opinions.  Everybody's got 'em.

[hodlmybtc]

If you went long wheat on my advice, reduce, and buy more on the dip overnight (u.s.). stay long 4-5 days, best estimate, target 595.  eurgbp looks good too.  gold should continue up a while, but oil probably has another down leg before it follows.

Ether dumps could resume at any time, but I think btc bottom is either in or very close.  No sense in holding off on btc purchases now unless you foresee a bounce off a capitulation bottom at 255 or 240 -- but I don't think there's enough stress in the market to make any meaningful capitulation, personally.  If btc rises soon (not a prediction, a hypothetical) then xmrbtc should drop a bit, and I would tend to roll into xmr below 240k certainly.  Somewhat skeptical that it can get there though.

Opinions.  Everybody's got 'em.

Just set some limit buys, a lot of miners/panicers just market sell everything and you can catch some good buys.

I also doubt we will go much lower than 240k, setting bids between that and 245k will have a great chance to get filled.

[MilkyLep]

BBands getting tight again, volume dropping off, I'd rather see things go the opposite way but I'm beginning to expect a dip to the .0022 region. Although there has been nice support around .0024 I don't see enough depth there presently to sustain a cascade of minor dumps.

I'm not going to be the guy who starts dumping though. I'll wait for the buying opportunity.

[SmoothCurves]

BBands getting tight again, volume dropping off, I'd rather see things go the opposite way but I'm beginning to expect a dip to the .0022 region. Although there has been nice support around .0024 I don't see enough depth there presently to sustain a cascade of minor dumps.

I'm not going to be the guy who starts dumping though. I'll wait for the buying opportunity.

.0022 would be a nice buy IMO!

[Eastwind]

Monero still needs more volume... Bytecoin has more

lol

Volume in terms of btc, XMR is way more.

[thefunkybits]

good ol' fake walls are back on Polo 

Someone must be trying to accumulate but the sellers look exhausted at these levels

[hodlmybtc]

good ol' fake walls are back on Polo 

Someone must be trying to accumulate but the sellers look exhausted at these levels

Someone please buy them up, love it when someone uses fake walls to scare people into his bids and then it gets eaten instantly

[iCEBREAKER]

good ol' fake walls are back on Polo 

Someone must be trying to accumulate but the sellers look exhausted at these levels

Someone please buy them up, love it when someone uses fake walls to scare people into his bids and then it gets eaten instantly

Yah, that's good times for sure.  But the best of all is when we are able to troll Fail-Whales like Otoh into rage dumping.  Mmmm...yummy cheap coins!   

[TrueCryptonaire]

BBands getting tight again, volume dropping off, I'd rather see things go the opposite way but I'm beginning to expect a dip to the .0022 region. Although there has been nice support around .0024 I don't see enough depth there presently to sustain a cascade of minor dumps.

I'm not going to be the guy who starts dumping though. I'll wait for the buying opportunity.

I see this in the same way.
0.0022 and making a bottom there for a while is certainly a possibility before running up. Also it gives higher bottom and a nice base for the run + some space in upper bound of the trend.

[TrueCryptonaire]

good ol' fake walls are back on Polo 

Someone must be trying to accumulate but the sellers look exhausted at these levels

Someone please buy them up, love it when someone uses fake walls to scare people into his bids and then it gets eaten instantly

You could buy them. 

[americanpegasus]

I've experimented with market making with other currencies before, but don't have the muscle to do it with this one.  
  
To give you n00bs some perspective, whoever is market making (likely risto + one or two others) wants people to sell to his bids and buy from his ask.  
  
The lazy man's way is to just set up to big ass walls on each end, and let people buy and sell into them, while they reap the profits from the difference.  
  
Because of bots though, it's possible to set up automatic moving ask/bid walls that scale up slowly into an absolute cliff vs. trying to do it by hand.  
  
Market making can be very profitable, but (and some of you more experienced can correct me if I'm wrong) they end up getting fucked over if there is a sudden demand spike and people eat through what they have to offer too quickly.  In this case they will be left holding tons of bitcoin after having sold through too much Monero and now must either permanantly forfeit that amount or buy back at a higher price.  
  
My guess is that risto/others have enough Monero so that any sudden spikes in demand that eat through their available supply won't be minded.  If you know you *want* to sell some of your stash, market making is a great way to potentially multiply your sale if you wouldn't mind someone gobbling it up at the current price anyway.  
  
But unless you have your own trading bot, be prepared to joust with bots reseting their bids/asks (although you can fake them out with properly stacked bids/asks and make them buy your overpriced Monero or sell to you cheaper if you are savvy).

[TrueCryptonaire]

I've experimented with market making with other currencies before, but don't have the muscle to do it with this one.  
  
To give you n00bs some perspective, whoever is market making (likely risto + one or two others) wants people to sell to his bids and buy from his ask.  
  
The lazy man's way is to just set up to big ass walls on each end, and let people buy and sell into them, while they reap the profits from the difference.  
  
Because of bots though, it's possible to set up automatic moving ask/bid walls that scale up slowly into an absolute cliff vs. trying to do it by hand.  
  
Market making can be very profitable, but (and some of you more experienced can correct me if I'm wrong) they end up getting fucked over if there is a sudden demand spike and people eat through what they have to offer too quickly.  In this case they will be left holding tons of bitcoin after having sold through too much Monero and now must either permanantly forfeit that amount or buy back at a higher price.  
  
My guess is that risto/others have enough Monero so that any sudden spikes in demand that eat through their available supply won't be minded.  If you know you *want* to sell some of your stash, market making is a great way to potentially multiply your sale if you wouldn't mind someone gobbling it up at the current price anyway.  
  
But unless you have your own trading bot, be prepared to joust with bots reseting their bids/asks (although you can fake them out with properly stacked bids/asks and make them buy your overpriced Monero or sell to you cheaper if you are savvy).

BTW a week ago you were hoping better prices for XMR.
It looks strongly we are going to get them.
My goal is to load some coins still lower than the current price (trading position).

I think the patience is the virtue which pays well with XMR as Monero is not a sprint and quick get rich scheme - rather it is get ultra-rich in the longest haul. Therefore there is no need for margin buying as the interest rate for btc is hefty (especially on these days of correction). Better to invest with your own btc and for the long haul.
For me XMR is a coin that I am most likely in for decade or so (I reserve the right to sell my coins earlier in case of emergency though). Yes I am trading but I am not out of XMR even when I sell some of my stash as I see the potential to go lower over the coming weeks/months. The growth of Monero is healthier when it is slow enough to discourage margin buyers (however at some point we cannot avoid them entering to the market - I certainly hope nobody has open margin long bleeding their precious coins away). When the margin buyers enter, it is time to exit IMO as they are forced to sell at some point unless they can meet the interest payments.

[americanpegasus]

TC, I'm not sure you caught the drift of my post, but it's OK.   I agree with you.  Margin is bad, and people looking for short term swings (on the order of months) should look elsewhere. 
 
Like bitcoin's ascent, I believe the price will remain stagnant until it doesn't and we see massive gains over a short period with a bleed off period. 
 
 In such a market the only way to make money is HODL and believe in the asset (helping develop it if possible).   You can't predict vertical moves like the ones that are coming.