[XMR] Monero Speculation

[binaryFate]

The fact that Monero is still so low is actually quite bad thing: it means there are not enough competition to buy the coins from the markets and that's why the price is low.

Monero so low... means not enough competition to buy... that's why price low.

A => B => A

Some wise words from TrueCryptonaire again.

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[Bassica]

The ask-side on poloniex is pretty impressive at the moment, 424k an counting. 162k just to reach 0.0025. I'm glad I was blessed with strong hands, cause this could make one nervous.

[Shrikez]

edit: screw this, after 15 months of faith I'm out. I am very disappointed.

WTS a medium to large 5 figure quantity OTC.

pm if you need more ammo to dump every time it moves.

[medusa13]

orderbook reflects current uncertainty. uncertainty regarding btc short-mid term price developement, even uncertainty on how xmr will react during a btc and/or altcoin bubble (i think many saw the ltc pump as a preview on how it might look like)

this even makes supporting the bids difficult. why should i buy 50 btc to support the bids when the risk of btc falling back to 200$ is very real?
No, i take what i get every day and many do the same. small trades, easy going.

bids never really reovered from when they first vanished durin polo's kyc stunt and have been declining ever since.

any news on the fiat exchanges? no news for long time and moneroinvestment.com still recommends xstock.io, but nothing is happening there. who has insght?

[ArticMine]

orderbook reflects current uncertainty. uncertainty regarding btc short-mid term price developement, even uncertainty on how xmr will react during a btc and/or altcoin bubble (i think many saw the ltc pump as a preview on how it might look like)

this even makes supporting the bids difficult. why should i buy 50 btc to support the bids when the risk of btc falling back to 200$ is very real?
No, i take what i get every day and many do the same. small trades, easy going.

bids never really reovered from when they first vanished durin polo's kyc stunt and have been declining ever since.

any news on the fiat exchanges? no news for long time and moneroinvestment.com still recommends xstock.io, but nothing is happening there. who has insght?

The risk of holding Bitcoin is certainly an issue with supporting bids on Polo. In a Bitcoin bubble I see Monero outperforming Bitcoin. There is considerable evidence for this in the performance of most alt-coins during a Bitcoin bubble.

The more interesting question is how will Monero perform during a Bitcoin crash due to the blocksize issue. One one level one would expect Monero to also crash given the past performance most alt-coins during Bitcoin bear markets; however Monero has a very viable long tern solution to the Bitcoin blocksize issue due to adaptive limits and a tail emission, so it could actually boom in such a scenario.

[saddambitcoin]

If you sell because of the wall, I think you're doing exactly what the wall wants you to do. Did you guys forget about the company buying all the XMR?

[dnaleor]

Monero needs now to go up if it is worth to continue the project.
The price is so low that it basically still indicates the project is going to fail.

I remember the same feeling when we were just below 0.001 BTC
This indicates to me that we are either at a local bottom, or on the edge of the cliff

My bets are that we are on the former, fasten your seatbelts

[smooth]

Monero needs now to go up if it is worth to continue the project.
The price is so low that it basically still indicates the project is going to fail.

Basically true of all of crypto. I would say it indicates that it won't succeed in any big way soon. Longer term discounting is harder to interpret.

[ArticMine]

Monero needs now to go up if it is worth to continue the project.
The price is so low that it basically still indicates the project is going to fail.

Basically true of all of crypto. I would say it indicates that it won't succeed in any big way soon. Longer term discounting is harder to interpret.

One has to ask some fundamental questions here:
1) What is the biggest problem currently facing Bitcoin, and by extension "all crypto" today?
2) Which coin(s) has / have a solution to the above problem that works?

Edit: The problem is not privacy / fungibility

[smooth]

Monero needs now to go up if it is worth to continue the project.
The price is so low that it basically still indicates the project is going to fail.

Basically true of all of crypto. I would say it indicates that it won't succeed in any big way soon. Longer term discounting is harder to interpret.

One has to ask some fundamental questions here:
1) What is the biggest problem currently facing Bitcoin, and by extension "all crypto" today?
2) Which coin(s) has / have a solution to the above problem that works?

Edit: The problem is not privacy / fungibility

I'm pretty sure you mean the blocks size and scaling.

I mostly disagree. I think the biggest problem right now is lack of a compelling use case. In fact not only is such a use case not accessible to end users, but the visibility of that happening soon isn't there for speculators. (Which doesn't guarantee it won't, but if you claim otherwise, just be aware you are bucking the trend.)

But we recently discussed that, so let's not rehash it.

[Shrikez]

If you sell because of the wall, I think you're doing exactly what the wall wants you to do. Did you guys forget about the company buying all the XMR?

No I don't sell because of the wall. I kept buying until today because of the wall. Only today I bought 3k Monero.

[TrueCryptonaire]

Monero needs now to go up if it is worth to continue the project.
The price is so low that it basically still indicates the project is going to fail.

I remember the same feeling when we were just below 0.001 BTC
This indicates to me that we are either at a local bottom, or on the edge of the cliff

My bets are that we are on the former, fasten your seatbelts

Yes if my feelings (= tea leafs) are any indication, we are at the bottom that probably never will come back. I am so depressed on the price action. 
However, my fear is, it is not a bottom and there is going to be downward pressure from here due to the lack of buyers.
There are rumours that there is a company that buys Moneros but nobody sees any actions that indicates such behavior.
I know the fiat exchanges are not something you create overnight but it was expected that in the summer 2015 there would be a fiat-XMR-fiat exchange. I am not aware if we have it (now it is autumn already). I hope those projects are legitimate and actually delivering (at least one of them and dedicating to XMR), Chinese markets were supposed to open, but nothing seems to happen from that direction. BTC38 did not accept Monero?

Do not get me wrong, I am not bearish but there are pretty many things that are halfway. I hope at least one of each kind of projects will realize (Monero doesn't need dozens of fiat exchanges - only one good and Monero-dedicated one), merchant tools after the fiat exchange (or prefertably integrated to the exchange - should be easy to do when you have liquid fiat exchange), China needs a reliable exchange adaption and gateway to Monero - there are tons of stupid money that can drive the price up several orders of magnitude as Chinese speculators like gambling in the markets.

[DaveyJones]

Monero needs now to go up if it is worth to continue the project.
The price is so low that it basically still indicates the project is going to fail.

Basically true of all of crypto. I would say it indicates that it won't succeed in any big way soon. Longer term discounting is harder to interpret.

One has to ask some fundamental questions here:
1) What is the biggest problem currently facing Bitcoin, and by extension "all crypto" today?
2) Which coin(s) has / have a solution to the above problem that works?

Edit: The problem is not privacy / fungibility

1) Greed. Many people are looking for an speculative object to gain more Fiat. This is somehow true for BTC and even more true for all the alts with their tiny markets which are easy to manipulate.
2) The Coin that can gather most of the people that believe in the thing itself and not only look at it to get rich ( again FIAT )

[smooth]

Chinese markets were supposed to open, but nothing seems to happen from that direction. BTC38 did not accept Monero?

BTER has traded Monero for a long time.

EDIT: In fact there seems to be a fiat pair, with a bit of volume even: https://bter.com/trade/xmr_cny

[kazuki49]

The fact that Monero is still so low is actually quite bad thing: it means there are not enough competition to buy the coins from the markets and that's why the price is low.

Monero so low... means not enough competition to buy... that's why price low.

A => B => A

Some wise words from TrueCryptonaire again.

The problem is thinking everything is static and Monero depends on the current scene, it doesn't.

I bet there are some waiting for a large sellout to fill the vacuum.

[Johnny Mnemonic]

One possibility that may be holding the price back is AnonyMint's vaporcoin that will supposedly fix a lot of centralization (as well as privacy) issues in crypto. Whether it's as revolutionary as he claims (I don't think he's ever delivered code for a crypto project), I'm sure a number of people are curiously waiting on the sidelines to see what comes of it. Though I wouldn't expect much to happen very soon.

[Bagatell]

One possibility that may be holding the price back is AnonyMint's vaporcoin

I'd give that possibility odds of billions to one.

[jehst]

One possibility that may be holding the price back is AnonyMint's vaporcoin that will supposedly fix a lot of centralization (as well as privacy) issues in crypto. Whether it's as revolutionary as he claims (I don't think he's ever delivered code for a crypto project), I'm sure a number of people are curiously waiting on the sidelines to see what comes of it. Though I wouldn't expect much to happen very soon.

He's repeated a lot of talking points from Martin Armstrong and keeps plugging his revolutionary project.

I guarantee there's a big pre-mine. Just has that "promotional" vibe.

[smoothie]

One possibility that may be holding the price back is AnonyMint's vaporcoin

I'd give that possibility odds of billions to one.

I highly doubt that is why the price is where it is at.

His project is vaporware.

Remains to be seen.

XMR is real and exists today. Hence there is support for it.

[rpietila]

One possibility that may be holding the price back is AnonyMint's vaporcoin

I'd give that possibility odds of billions to one.

I highly doubt that is why the price is where it is at.

His project is vaporware.

Remains to be seen.

XMR is real and exists today. Hence there is support for it.

I also don't believe XMR current price is held down because of that. I am very interested in the concept, but so far it has not taken any investment dollars out of circulation, and even when it does, we are talking about $50-$100k total, hardly a sum to be visible in XMR price even in the unlikely case that it all came out from existing XMR investments.