[XMR] Monero Speculation

[Barney]

Bid support is down to 50btc. Can't remember when I last saw it this low. Looks like whoever wants to buy sub 200k will have this opportunity soon.

[dreamspark]

Bid support is down to 50btc. Can't remember when I last saw it this low. Looks like whoever wants to buy sub 200k will have this opportunity soon.

It's not been this low since it was introduced to Polo. Sad times and RIP the top longers. Not surprising while btc is sliding and I can see it sliding another $100 or so easily. Nobody wants to hold alts while the other side of the trade loses $ value.

[NeuroticFish]

humpty dumpty 199999
someone thought xmr was apple?
Any thoughts on trendline now?

For most people, crypto is "some sort of stocks".
And ... the stocks didn't have a great day today.

[americanpegasus]

Awesome news.  I'm just getting ready to put some more money into XMR and have been lazy and putting it off.  Looks like that was a wise mistake. 
 
I'll take all that cheap Monero you don't want right now. 
 
I guaran-fucking-tee you'll want it in 2016 and I ain't giving it back at any price.

[smooth]

Deleted some mining spam, possible malware

[dEBRUYNE]

Bid support is down to 50btc. Can't remember when I last saw it this low. Looks like whoever wants to buy sub 200k will have this opportunity soon.

It's not been this low since it was introduced to Polo. Sad times and RIP the top longers. Not surprising while btc is sliding and I can see it sliding another $100 or so easily. Nobody wants to hold alts while the other side of the trade loses $ value.

When we dumped through 0.001 it was only around ~30 BTC if I recall correctly. I wouldn't be suprised if this dump was made in order to hunt stoplosses/margin calls. As long as 0.002 holds I am not really that worried.

Regarding the bolded part: This is certainly true for most alts, however XMR acts mostly as a hedge due to it's fundamentals so it might be different. I have to add though that a sliding BTC price decreases confidence in general in cryptocurrencies.

[rpietila]

someone thought xmr was apple?

Or maybe I was too preoccupied with Crypto Kingdom going live to pay attention.

Many reasons...

[slap]

Well, congrats with your game.
You dont seem to mind mentioning in every single post though.

OT
so you sold some apples today?

[nioc]

I speculate that it will be very unlikely to be able to purchase any appreciable amount under 230 in the future. 

In case anybody had any doubts this is proof I am clueless and hence why I don't trade.

Unfortunately I was unable to get any on this dip but as always I'm looking forward to the future while being here now.

[Siexpert]

I'm transferring most of my BTC from Bitfiniex to Poloniex, because of the recent problems with that exchange. Hopefully I will be able to buy some cheap Monero in the next days.

Edit: looks like the ascending trendline from the all-time low is about to be broken, which means the price might go down to the 0.001 level again. Bitcoin doesn't looks too good either, if the 210 support area is broken, it's almost sure the price will go down in the 180-160$ zone.

[explorer]

I'm transferring most of my BTC from Bitfiniex to Poloniex, because of the recent problems with that exchange. Hopefully I will be able to buy some cheap Monero in the next days.

Edit: looks like the ascending trendline from the all-time low is about to be broken, which means the price might go down to the 0.001 level again. Bitcoin doesn't looks too good either, if the 210 support area is broken, it's almost sure the price will go down in the 180-160$ zone.

If I can get $150 XBT, and .001 XMR,  well, that sounds like a fine combination to me!  More sure about the low XBT than the low XMR though...

[TrueCryptonaire]

I am becoming more and more convinced bitcoin will not make any new ATH.
I think the bear market is too rough and it certainly discourages any new investors to adapt it.
It is just a matter of months when BTC is trading around 100 usd (in my opinion - I might be wrong also - but certainly at least it has some probability to occur).
There is very little to no incentive for anyone buying bitcoins. There is pretty much nothing in sight that could potentially increase the demand for bitcoins.

That's our chance. It is important the community start measuring moneros in fiat terms, not in bitcoin terms (otherwise Monero will die together with bitcoin).

[kenji]

rip monero

[americanpegasus]

Oh my god it's a capitulation buffet.  Bring it on, this is where the money is made! 
 
And I fully agree with TC.  XMR should be thought of in terms of Usd, not btc.   Why would compare a rate of apples to oranges just because both are fruit? 
 
I know we are down below 50 cents.... I'm wondering if we will hit 40 cents each.  Either way, my buying will start soon and keep going until 2016 at least.  TPTB keeps predicting the ultimate low in crypto will come in Spring 2016, so we will see. 
 
This is how you know you're onto a good thing, when you don't cringe as the price goes down because you are "losing" money.  You think of it as an opportunity to own more.

[Siexpert]

I am becoming more and more convinced bitcoin will not make any new ATH.
I think the bear market is too rough and it certainly discourages any new investors to adapt it.
It is just a matter of months when BTC is trading around 100 usd (in my opinion - I might be wrong also - but certainly at least it has some probability to occur).
There is very little to no incentive for anyone buying bitcoins. There is pretty much nothing in sight that could potentially increase the demand for bitcoins.

That's our chance. It is important the community start measuring moneros in fiat terms, not in bitcoin terms (otherwise Monero will die together with bitcoin).

Why do you think that if bitcoin dies in this stage, Monero would have any chance to survive? Of course there is a thing like the second-mover advantage, and Monero is superior to Bitcoin in many aspects, but I don't think that would be enough.

[dreamspark]

Oh my god it's a capitulation buffet.  Bring it on, this is where the money is made! 
 
And I fully agree with TC.  XMR should be thought of in terms of Usd, not btc.   Why would compare a rate of apples to oranges just because both are fruit? 
 
I know we are down below 50 cents.... I'm wondering if we will hit 40 cents each.  Either way, my buying will start soon and keep going until 2016 at least.  TPTB keeps predicting the ultimate low in crypto will come in Spring 2016, so we will see. 
 
This is how you know you're onto a good thing, when you don't cringe as the price goes down because you are "losing" money.  You think of it as an opportunity to own more.

That's what people thought when they were buying $900 btc on the way down.

It doesn't matter how you want to think about XMR, fact is nearly all crypto is tied to BTC and when it tanks so does the price of its trade pair.

[TrueCryptonaire]

I am becoming more and more convinced bitcoin will not make any new ATH.
I think the bear market is too rough and it certainly discourages any new investors to adapt it.
It is just a matter of months when BTC is trading around 100 usd (in my opinion - I might be wrong also - but certainly at least it has some probability to occur).
There is very little to no incentive for anyone buying bitcoins. There is pretty much nothing in sight that could potentially increase the demand for bitcoins.

That's our chance. It is important the community start measuring moneros in fiat terms, not in bitcoin terms (otherwise Monero will die together with bitcoin).

Why do you think that if bitcoin dies in this stage, Monero would have any chance to survive? Of course there is a thing like the second-mover advantage, and Monero is superior to Bitcoin in many aspects, but I don't think that would be enough.

I might not have said it clear enough. I said, if we measure Monero in bitcoins it will die also with bitcoin.
When bitcoin hits 5 usd/btc, it means Monero is trading between 0.01-0.02 usd/each.
If we start measuring and thinking Moneros in terms of fiat, I doubt those prices will not realize as people are willing to buy Moneros even for 1 btc each in this scenario.

[Gillette]

Interesting... While btc is down, xmr is up

Yep, hence the question I dropped few days earlier; is xmr being used as an hedge towards btc?
Ofcourse you can drop btc in different altcoins as an hedge, but xmr seems the weapon of choice for this.
Confirmed?

Not confirmed. As soon as btc began loosing its value, xmr did the same. Today xmr cost 0.45 USD.

[americanpegasus]

No chance Monero ever trades between 1 and 2 cents. 
 
You're telling me someone wouldn't be willing to take the bet to just buy a million Monero for $10,000?  I think the game theory aspect of it might irrationally discount Monero for a while, but the best form of money always wins in the end. 
 
Crypto may get taken down with the markets but will find new fans as it inexplicably rises up despite worsening fiat conditions as desperate traders start looking at other options besides currencies and stocks.

[jehst]

China is half of bitcoin. Bitcoin is 90% of Monero. Regardless of your feelings about XMR, you have to consider whether you are bullish or bearish on BTC as a preliminary question.