[XMR] Monero Speculation

[TrueCryptonaire]

Chances are we are now on support levels and after a while Monero starts to fly. Now it is excellent time to load some more Moneros.
I've bought my daily portion of low-cost Moneros already.

[TrueCryptonaire]

It is just  a matter of days when 9 000 000 Moneros will be mined.
By the end of the year we are around 10 000 000 Moneros and the inflation is really lowering.
I am seeing still 2016 being the greatest year for Monero so far, and of course after that it will only get better if everything goes as planned.
In my opinion, now buying any Moneros below 5 USD is having a good deal and we still have good chances to achieve/touch 10 usd/XMR this year. I am not saying it will happen but certainly we have good chances. When the bubble occurs, those extreme prices will be touched in a rapid way. That's like Bitcoin 2012.
I know I am one step further in my views as Monero is only 0.60 usd per coin but I think it is great time to prepare your big hoovering machines and scoop the coins, store them in cold storage containers and save them until you want to buy some nice gadgets with them. Storing coins outside of the exchanges prevents you selling coins too low - when you need to sell your coins, transferring them gives you a few extra minute to think if you really want to sell at the certain price and thus makes your selling more rational and less emotional.

[Febo]

Storing coins outside of the exchanges prevents you selling coins too low - ...

Storing coins out of exchange actually makes them yours.

Keeping them on exchange you ask someone else to decide if he want to give them to you or not.

[dreamspark]

Storing coins outside of the exchanges prevents you selling coins too low - ...

Storing coins out of exchange actually makes them yours.

Keeping them on exchange you ask someone else to decide if he want to give them to you or not.

An important point as always, many people have had to learn this lesson the hard way.

In regards to XMR price, as I said over the weekend I'm neutral atm. Waiting to properly test the previous high or head back for a retest of that lower trendline.

[aminorex]

I didn't expect to be able to buy again so soon, but under usd 0.6, its irresistable. Thank you eth.

[thefunkybits]

What does everyone think of the possibility of a bearish double top forming?

Or is this a time to be ignoring the technicals? 

[rpietila]

What does everyone think of the possibility of a bearish double top forming?

Or is this a time to be ignoring the technicals? 

They did care about technicals with BTC as well in 2010.

The ones who did are not with us anymore though...

[TrueCryptonaire]

Monero tends to decline when the volumes are low and rise with huge volumes.
The mechanism why ETH pump is affecting on XMR comes from the lending markets.
When ETH pumps, it is sucking the lenders dry from their bitcoins putting some upward pressure on BTC interest rates which discourages margin buyers in Monero markets and even make them closing their positions even for loss if their daily interest rates approaches 1 or 2 % which is unsustainable with XMR margin buyers.

[hodlmybtc]

Monero tends to decline when the volumes are low and rise with huge volumes.
The mechanism why ETH pump is affecting on XMR comes from the lending markets.
When ETH pumps, it is sucking the lenders dry from their bitcoins putting some upward pressure on BTC interest rates which discourages margin buyers in Monero markets and even make them closing their positions even for loss if their daily interest rates approaches 1 or 2 % which is unsustainable with XMR margin buyers.

Yes I was gone for a couple days and Polo sold some of my collateral it seems near the bottom because of the lending rates shot way up.

Rebought some near that prices and sold about half my margin long at the spikes to 250k and 260k so it's all good.

Bid side is getting lower again because of the dumpage, so set some bids and fill the bid side up a bit guys, every dumper just market sells so you're guaranteed to get filled.

[kazuki49]

[TrueCryptonaire]

Lending btc is also a good business these days in Poloniex.
Etherium traders are eating so much btc that the rates are ridiculous.
0.2 % a day turns to be over 70 % annually and I am not even calculating the compounded interests which makes it attractive to give out only 2 day loans.

I am not recommending anyone holding margin long positions in XMR these days. That's only a way to lose XMR as the lenders make nice money out of the long positions.
Holding short positions may not be smart either.

[canth]

Lending btc is also a good business these days in Poloniex.
Etherium traders are eating so much btc that the rates are ridiculous.
0.2 % a day turns to be over 70 % annually and I am not even calculating the compounded interests which makes it attractive to give out only 2 day loans.

I am not recommending anyone holding margin long positions in XMR these days. That's only a way to lose XMR as the lenders make nice money out of the long positions.
Holding short positions may not be smart either.

Going long on margin always seems like a bad idea. It's like getting that couch from RentACenter where you only need to pay $19.99/mo for the rest of your life...

Accumulate XMR the right way - buy what you can afford.

[TrueCryptonaire]

Lending btc is also a good business these days in Poloniex.
Etherium traders are eating so much btc that the rates are ridiculous.
0.2 % a day turns to be over 70 % annually and I am not even calculating the compounded interests which makes it attractive to give out only 2 day loans.

I am not recommending anyone holding margin long positions in XMR these days. That's only a way to lose XMR as the lenders make nice money out of the long positions.
Holding short positions may not be smart either.

Going long on margin always seems like a bad idea. It's like getting that couch from RentACenter where you only need to pay $19.99/mo for the rest of your life...

Accumulate XMR the right way - buy what you can afford.

I do not know if it is always a bad idea for having a margin long for XMR.
In order to be profitable/to make sense having long position, the interest rate should be lower than the average price growth rate. It somewhat made sense when btc rates were like 0.03-0.04 % per day but certainly 0.25 % per day is pure ripping off especially these days as Monero is moving nothing but sideways.
Having a margin long position under the current circumstances is very strong view for almost immediate and quick rise which probably will not happen unless something sudden and good happens which creates a spike on the demand of Monero, but those events I would consider black swans. Sometimes they happen but usually not.
I think Monero is in quite slow rising channel. However, the lower bounds are rising constantly and it will eventually force either breaking the rising pattern into bearish or breaking out to higher levels. I hope the latter.

[hodlmybtc]

11k XMR for sale at 224k for who's interested.

[TheKoziTwo]

https://www.cryptsy.com/markets/view/505

[hodlmybtc]

Wall got eaten pretty fast, I ate 2k before it was bought up completely:

https://www.cryptsy.com/markets/view/505

Nice!

[jwinterm]

Lamest Cryptsy pump ever?

I guess it seems like Polo is moving into #1 altcoin market now. Seemed like Bittrex was gonna takeover for a bit, but I guess they put their hand in the scam ICO cookie jar one too many times, and Bter still lacking in credibility. Seems like with the Ether volume domination, Poloniex is really the boss now.

[aminorex]

They earned it by making customers whole after the hack.  Their U.I. is well designed, albeit unusably slow on most modern platforms (tablets and phones).  I just wish they would acknowledge receipt of that deposit I made a year ago...

[rdnkjdi]

Honestly polo is better in almost every way I can think of.  I hope they do well ... outside of the overnight change to withdraw limits which was bad.  They have exceptional service and innovation.  Hope they are here for the long haul.

[cAPSLOCK]

They earned it by making customers whole after the hack.  Their U.I. is well designed, albeit unusably slow on most modern platforms (tablets and phones).  I just wish they would acknowledge receipt of that deposit I made a year ago...

It is a sad sad thing.  I have also lost pretty much all the XMR I ever held.  I don't know where any of it is any more.  I hate to imagine how much money has been potentially lost to untraceability. .  And to the bottom the the sea.  Salt water is so bad on hard drives.