nioc
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February 25, 2015, 05:29:06 PM |
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dreamspark, I have always found your posts to have no BS and great insight. Because of that, your postings in the btc speculation thread convinced me that Monero was legitimate. The devs and the community keep proving it to be so. Thank you dreamspark ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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GingerAle
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February 25, 2015, 06:20:49 PM |
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As mentioned miles up in the posts before this recent pump bonanza, I think the main thing that ultimately will shift the behavior of the XMR market is the # of people actually using it.
As stslimited pointed out, the currency already provides what its designed to provide: private transactions. You don't need to hold any XMR to use its technology.
Eventually, as usage increases (and I think it will thanks to XMR.to), people that want to buy something privately will maybe buy 50$ worth of XMR even though their purchase only requires 40$ worth. Sure, this is one person now with 10 XMR off the markets, decreasing supply by a tiny tiny fraction, but this will add up, over time.
And further to make speculation of XMR even more difficult, is that the price of XMR doesn't matter for this use case. If I need to buy 50$ worth of XMR to make a private transaction, it doesn't matter if 50$ buys my 150 XMR or if it buys me 0.001 XMR.
okey doke. Lunch is over.
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thelibertycap
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February 25, 2015, 07:08:34 PM |
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As mentioned miles up in the posts before this recent pump bonanza, I think the main thing that ultimately will shift the behavior of the XMR market is the # of people actually using it.
As stslimited pointed out, the currency already provides what its designed to provide: private transactions. You don't need to hold any XMR to use its technology.
Eventually, as usage increases (and I think it will thanks to XMR.to), people that want to buy something privately will maybe buy 50$ worth of XMR even though their purchase only requires 40$ worth. Sure, this is one person now with 10 XMR off the markets, decreasing supply by a tiny tiny fraction, but this will add up, over time.
And further to make speculation of XMR even more difficult, is that the price of XMR doesn't matter for this use case. If I need to buy 50$ worth of XMR to make a private transaction, it doesn't matter if 50$ buys my 150 XMR or if it buys me 0.001 XMR.
okey doke. Lunch is over.
Fully agree. It is the same reason why Bitcoin is here to stay no matter the price. If the blockchain is secured it is already a success. XMR.to will provide micro-liquidity in the spread same as Shapeshift does. Not only speculators buying on an exchange waiting for the best price. I am already running the new blockchain db branch and it is working alright. After the devs finally, by some magic hand, soon, decide to merge it upstream, all the exchanges can integrate monero without the hassle of the previous memory-bloated implementation.
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rpietila
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February 25, 2015, 08:10:50 PM |
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OK, let's put the end to the "silly pump" talk. So, let this be the official announcement that the price of monero will now start rising.
Exactly this has happened. Minutes after the announcement, the price started to rise from 0.00115 to now 0.00140 (+22% in less than 3 days). Everyone who reads this is asked to keep calm and buy at most a very small amount per day, but instead be very vigilant in selling at the best opportunity. Large holders are entering in, we need them, and they need the coins! This did not work as intended. I haven't increased my position at all yet, for the reason that I decided to wait 24 hours and then the price was already toppy. So people have bought more than very small amounts, and sellers have been fewer than hoped. Don't claim that I am asking people to buy when the exact opposite is true.The least I can do before starting to buy en masse due to these wonderful new developments, and before allocating my carte blanche wealth management clients' funds to it, and promote it to the larger circles that I advice concerning wealth management, and before reactivating my gold/silver/BTC/XMR/fiat dealership enabling XMR to be bought with fiat, etc. is to announce all of it beforehand.
QFT. Right now is the time to start getting back those people who were burning for Monero last summer but have since sold due to the depressing market and development taking time.
If you believed that the time allocated for "getting back the ex-Moneroholders" was a few hours, you are mistaken. The rise is planned to be gradual, so there will be more time to buy. Don't buy too hastily, do sell if it feels overextended (but not out of boredom), and always keep the core position.
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HIM TVA Dragon, AOK-GM, Emperor of the Earth, Creator of the World, King of Crypto Kingdom, Lord of Malla, AOD-GEN, SA-GEN5, Ministry of Plenty (Join NOW!), Professor of Economics and Theology, Ph.D, AM, Chairman, Treasurer, Founder, CEO, 3*MG-2, 82*OHK, NKP, WTF, FFF, etc(x3)
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TrueCryptonaire
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February 25, 2015, 09:18:01 PM |
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Eventually, as usage increases (and I think it will thanks to XMR.to), people that want to buy something privately will maybe buy 50$ worth of XMR even though their purchase only requires 40$ worth. Sure, this is one person now with 10 XMR off the markets, decreasing supply by a tiny tiny fraction, but this will add up, over time.
And further to make speculation of XMR even more difficult, is that the price of XMR doesn't matter for this use case. If I need to buy 50$ worth of XMR to make a private transaction, it doesn't matter if 50$ buys my 150 XMR or if it buys me 0.001 XMR.
When it comes to the idea of price of Monero goes up if it gets more transactional use, this is false statement. Here is very simple reasoning: You convert 50 usd to xmr and spend them and the merchant dumps the coins back to market => the effect is more or less neutral. If the merchant keeps the coins and do not dump them, then it is obviously very bullish especially if there are lot more merchants deciding to hodl. Hodling is the only thing which gives a value for a coin. Without hodling the coin serves a mere token and cannot reach any significiant prices. The latter part of your message is true - indeed it doesn't matter if you get 0.001 XMR or 150 with 50 usd. Monero will rise in price only and only if more new people enter to the markets long time enough.
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TrueCryptonaire
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February 25, 2015, 09:34:48 PM |
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Eventually, as usage increases (and I think it will thanks to XMR.to), people that want to buy something privately will maybe buy 50$ worth of XMR even though their purchase only requires 40$ worth. Sure, this is one person now with 10 XMR off the markets, decreasing supply by a tiny tiny fraction, but this will add up, over time.
And further to make speculation of XMR even more difficult, is that the price of XMR doesn't matter for this use case. If I need to buy 50$ worth of XMR to make a private transaction, it doesn't matter if 50$ buys my 150 XMR or if it buys me 0.001 XMR.
When it comes to the idea of price of Monero goes up if it gets more transactional use, this is false statement. Here is very simple reasoning: You convert 50 usd to xmr and spend them and the merchant dumps the coins back to market => the effect is more or less neutral. If the merchant keeps the coins and do not dump them, then it is obviously very bullish especially if there are lot more merchants deciding to hodl. Hodling is the only thing which gives a value for a coin. Without hodling the coin serves a mere token and cannot reach any significiant prices. The latter part of your message is true - indeed it doesn't matter if you get 0.001 XMR or 150 with 50 usd. Monero will rise in price only and only if more new people enter to the markets long time enough. tl;dr buy uno, amirite? I am forbidden to comment on this.
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David Latapie
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February 25, 2015, 09:44:19 PM |
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Half of my Monero's are for sale at $3. Another half at $30. The rest at $300.
I hope you don't mean all of your XMR are on an exchange. In my view, the private ledger one would become the dominant crypto, it most resembles "e-cash", and takes into account fungibility. I suspect in the future, Bitcoins that have been involved with scams wont be taken by vendors, since it's possible for authorities to track the bitcoins via the blockchain, and most scammers mix their bitcoins(So it'd look like the vendors who accept the tainted coins are apart of the scam). Already happened
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rpietila
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February 25, 2015, 09:50:13 PM |
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There is now a 30k bid at a very reasonable price of 0.0014.
If it does not get hit, it is hard to deny that the uptrend has started, don't you think so?
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HIM TVA Dragon, AOK-GM, Emperor of the Earth, Creator of the World, King of Crypto Kingdom, Lord of Malla, AOD-GEN, SA-GEN5, Ministry of Plenty (Join NOW!), Professor of Economics and Theology, Ph.D, AM, Chairman, Treasurer, Founder, CEO, 3*MG-2, 82*OHK, NKP, WTF, FFF, etc(x3)
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GreekBitcoin
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February 25, 2015, 10:32:17 PM |
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Assuming someone really wanted to buy like 200BTC worth of XMR when the price was low, he couldnt do that without obviously pumping the price. Even more so when half the sell orders were his own.If you dont say anything people will think that, well, the time they were waiting for may be coming indeed and wont sell. They may even buy more. So what is best to do? Tell the people that you are manipulating the price. People dislike that. They play along but stay alarmed and sell when they feel a bit scared. After all its just manipulation. So i would argue that you actually manage to buy the coins you wanted at better price by stating that you are manipulating the price. And this way also has a plus. Your words gain more trust if you say something and that happens. You can use that in the future. Maybe really near future too. Only thing i really dont think you are going to do is to wait 24h to buy. You actually buy the moment you said that you are going to buy. Oh and remember, it is also buying when people (from a wannabe syndicates or not) dump on you ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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matej krkic
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February 25, 2015, 10:38:28 PM |
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There is now a 30k bid at a very reasonable price of 0.0014.
If it does not get hit, it is hard to deny that the uptrend has started, don't you think so?
Great coin. Nothing more than manipulating the price. So, what if you stop your pump machine for a month or two, and take back all your buy orders? What the price would be? 0.0005 or 0.0001? Is it really interesting to invest in coin , where everything is decided by one man?
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ArticMine
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February 25, 2015, 10:42:14 PM |
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Eventually, as usage increases (and I think it will thanks to XMR.to), people that want to buy something privately will maybe buy 50$ worth of XMR even though their purchase only requires 40$ worth. Sure, this is one person now with 10 XMR off the markets, decreasing supply by a tiny tiny fraction, but this will add up, over time.
And further to make speculation of XMR even more difficult, is that the price of XMR doesn't matter for this use case. If I need to buy 50$ worth of XMR to make a private transaction, it doesn't matter if 50$ buys my 150 XMR or if it buys me 0.001 XMR.
When it comes to the idea of price of Monero goes up if it gets more transactional use, this is false statement. Here is very simple reasoning: You convert 50 usd to xmr and spend them and the merchant dumps the coins back to market => the effect is more or less neutral. If the merchant keeps the coins and do not dump them, then it is obviously very bullish especially if there are lot more merchants deciding to hodl. Hodling is the only thing which gives a value for a coin. Without hodling the coin serves a mere token and cannot reach any significiant prices. The latter part of your message is true - indeed it doesn't matter if you get 0.001 XMR or 150 with 50 usd. Monero will rise in price only and only if more new people enter to the markets long time enough. This is not exactly true because no matter how efficient the buyer and seller are in hedging their exposure to XMR there is going to be minimum holding period between the buyer and the seller. The process is is never instantaneous. It is this minimum holding period that makes the use of XMR in commerce very bullish at a fundamental level.
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smooth (OP)
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February 25, 2015, 10:42:26 PM |
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There is now a 30k bid at a very reasonable price of 0.0014.
If it does not get hit, it is hard to deny that the uptrend has started, don't you think so?
Great coin. Nothing more than manipulating the price. So, what if you stop your pump machine for a month or two, and take back all your buy orders? What the price would be? 0.0005 or 0.0001? Is it really interesting to invest in coin , where everything is decided by one man? Hi Bytecoin shills! Welcome back.
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GreekBitcoin
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getmonero.org
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February 25, 2015, 10:44:12 PM |
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There is now a 30k bid at a very reasonable price of 0.0014.
If it does not get hit, it is hard to deny that the uptrend has started, don't you think so?
Great coin. Nothing more than manipulating the price. So, what if you stop your pump machine for a month or two, and take back all your buy orders? What the price would be? 0.0005 or 0.0001? Is it really interesting to invest in coin , where everything is decided by one man? For starters, it is better to have someone buy a coin with very big emission in order to try and manipulate it than having someone owning the coin by premining it ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) And then you assume that noone else is trading/holding which is largely wrong.
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matej krkic
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February 25, 2015, 10:44:20 PM |
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There is now a 30k bid at a very reasonable price of 0.0014.
If it does not get hit, it is hard to deny that the uptrend has started, don't you think so?
Great coin. Nothing more than manipulating the price. So, what if you stop your pump machine for a month or two, and take back all your buy orders? What the price would be? 0.0005 or 0.0001? Is it really interesting to invest in coin , where everything is decided by one man? Hi Bytecoin shills! Welcome back. I've changed my mind. Now XRP + NXT ) BTW, do you have something to answer me, or only flood?
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GreekBitcoin
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February 25, 2015, 10:49:01 PM |
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I've changed my mind. Now XRP + NXT )
Is that a vindication for the warnings? ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) I see you have a tendency for coins that are being generated out of thin air.
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matej krkic
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February 25, 2015, 10:52:41 PM |
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I've changed my mind. Now XRP + NXT )
Is that a vindication for the warnings? ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) I see you have a tendency for coins that are being generated out of thin air. One more flood post, nothing more. As usual. Monero threads (or bitcointalk?) are still the same =) See you.
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cAPSLOCK
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February 25, 2015, 11:20:24 PM |
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wpalczynski
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February 25, 2015, 11:23:08 PM |
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See ya bud. Hopefully not soon. I've changed my mind. Now XRP + NXT )
Is that a vindication for the warnings? ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) I see you have a tendency for coins that are being generated out of thin air. One more flood post, nothing more. As usual. Monero threads (or bitcointalk?) are still the same =) See you.
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G2M
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February 26, 2015, 12:55:32 AM |
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"Hit the sell button, that'll teach me"
So they sell.
"Didn't go as planned"
Comes up with a new plan, continues buying.
I like this guy.
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Wind picked up: F4BC1F4BC0A2A1C4
banditryandloot goin2mars kbm keyboard-mash theusualstuff
probably a few more that don't matter for much.
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nioc
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February 26, 2015, 12:58:01 AM |
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There is now a 30k bid at a very reasonable price of 0.0014.
If it does not get hit, it is hard to deny that the uptrend has started, don't you think so?
Great coin. Nothing more than manipulating the price. So, what if you stop your pump machine for a month or two, and take back all your buy orders? What the price would be? 0.0005 or 0.0001? Is it really interesting to invest in coin , where everything is decided by one man? I am one man!
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