[XMR] Monero Speculation

[wpalczynski]

Around 12k borrowed and subsequently dumped to short. Total offers signifcantly declining and rates shooting up. This could get interesting since there is some possible fuel now.

http://monerodice.pd.to/polo.php (check around 02:15 UTC and compare with the chart).

https://poloniex.com/lending#XMR

Primer, how you feeling buddy? 

Could primer be the person who shorted? If so I am really worried for his well being.

He will come back and say he bought back right at some recent bottom.

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[mathgal23]

More than 1 Million XMR have changed hands on Poloniex today. A lot of coins finding new owners that are entering at a much higher price than we've seen for several months. These new holders aren't going to want to part with their coins until they see much higher prices. The volume is key here imo.

New users are good for the economy. I hope you are right about the high volume translating into increased adoption.

[Hueristic]

@Heuristic

re ETH - Do you trade?

I only trade in coins I believe in, Eth does not make the cut.

Did the whales who pumped and dumped the Ethereum come to Monero? If so, Monero price can go very high.

To me it looks like so.
The fact is, Monero is probably held mainly outside of the exchange as the whales hold it in their own wallets make the coin pretty scarce in the exchange.
If everything goes well, Monero might indeed go pretty high. Personally I am not so much interested in selling coins that low as I have been a hodler for so long. The price need to be something serious (like hundreds of dollars per coin or so) to make me sell a Monero or two. Still I am planning to hold most of my coins.
In the end, we really do not need 18 000 000 coins floating in the market in order to make a Monero economy. The economy can be made with 100 000 XMR or so, the rest of the coins can be hoarded in long term storage units.

W0w you posted something we agree on!

[jehst]

@Heuristic

re ETH - Do you trade?

I only trade in coins I believe in, Eth does not make the cut.

Did the whales who pumped and dumped the Ethereum come to Monero? If so, Monero price can go very high.

To me it looks like so.
The fact is, Monero is probably held mainly outside of the exchange as the whales hold it in their own wallets make the coin pretty scarce in the exchange.
If everything goes well, Monero might indeed go pretty high. Personally I am not so much interested in selling coins that low as I have been a hodler for so long. The price need to be something serious (like hundreds of dollars per coin or so) to make me sell a Monero or two. Still I am planning to hold most of my coins.
In the end, we really do not need 18 000 000 coins floating in the market in order to make a Monero economy. The economy can be made with 100 000 XMR or so, the rest of the coins can be hoarded in long term storage units.

W0w you posted something we agree on!

you really think TrueCryptonaire is going to hold XMR until $100+ per coin? lol

zero chance.

[Hueristic]

@Heuristic

re ETH - Do you trade?

I only trade in coins I believe in, Eth does not make the cut.

Did the whales who pumped and dumped the Ethereum come to Monero? If so, Monero price can go very high.

To me it looks like so.
The fact is, Monero is probably held mainly outside of the exchange as the whales hold it in their own wallets make the coin pretty scarce in the exchange.
If everything goes well, Monero might indeed go pretty high. Personally I am not so much interested in selling coins that low as I have been a hodler for so long. The price need to be something serious (like hundreds of dollars per coin or so) to make me sell a Monero or two. Still I am planning to hold most of my coins.
In the end, we really do not need 18 000 000 coins floating in the market in order to make a Monero economy. The economy can be made with 100 000 XMR or so, the rest of the coins can be hoarded in long term storage units.

W0w you posted something we agree on!

you really think TrueCryptonaire is going to hold XMR until $100+ per coin? lol

zero chance.

Show me where I said I believed him? I said I agreed with the statement.

[aminorex]

[...apt observations on the psychodrama of speculation...] 

The most important lesson I ever learned, regarding investment (or speculation alike, for that matter, if you are one to make such a distinction):

Your emotions do not improve your success in this domain.  Quite the contrary.

[tifozi]

The person mentioned below noticed the Monero price jump today before I did.  I would not be shocked if he asks me to start paying him some proportion of his earnings in XMR instead of BTC at some point.

Very important place in XMR history if this pans out down the road.

[dnaleor]

Nice

[Hueristic]

Nice

Yup, I've had and hold VpnCoin since the beginning as well.
Just noticed it was on the list.

[TrueCryptonaire]

@Heuristic

re ETH - Do you trade?

I only trade in coins I believe in, Eth does not make the cut.

Did the whales who pumped and dumped the Ethereum come to Monero? If so, Monero price can go very high.

To me it looks like so.
The fact is, Monero is probably held mainly outside of the exchange as the whales hold it in their own wallets make the coin pretty scarce in the exchange.
If everything goes well, Monero might indeed go pretty high. Personally I am not so much interested in selling coins that low as I have been a hodler for so long. The price need to be something serious (like hundreds of dollars per coin or so) to make me sell a Monero or two. Still I am planning to hold most of my coins.
In the end, we really do not need 18 000 000 coins floating in the market in order to make a Monero economy. The economy can be made with 100 000 XMR or so, the rest of the coins can be hoarded in long term storage units.

W0w you posted something we agree on!

you really think TrueCryptonaire is going to hold XMR until $100+ per coin? lol

zero chance.

Perhaps not all my coins but definetely the majority of my core position will be held.
There is no need for cash so I don't need to sell any coins. Moneros represent so small part of my portfolio that I am sleeping well during nights even if Monero goes to 0.

[TrueCryptonaire]

Seems like my call for shorters to come up yesterday is paying off people.
Shorting Monero enables the liquidity for dumps like these.

[iCEBREAKER]

Perfect storm for Monero:

+ MultiSig
+ GUI funded
+ Daily Decrypt
+ Peter Todd
+ Shen #REKT Shadowcash
+ ETH going crazy

So awesome to see 100ks of XMR flying around on Polo.

Need to get on Kraken and BTC-E too.  

[TrueCryptonaire]

Perfect storm for Monero:

+ MultiSig
+ GUI funded
+ Daily Decrypt
+ Peter Todd
+ Shadowcash #REKT
+ ETH going crazy

So awesome to see 100ks of XMR flying around on Polo.

Need to get on Kraken and BTC-E too.   

We need to keep this volume.
A volume like this for a day or two will not help but maintaining it for years to come and even increasing it will make Monero great.
If we are able to do so, we do not need to apply for exchanges to accept us but the exchanges are begging us to accept them.

[RustyNoman]

Seems like my call for shorters to come up yesterday is paying off people.
Shorting Monero enables the liquidity for dumps like these.

Do you mean this morning's price drop is caused by the dump? I thought that is just normal correction after big rise.

[numismatist]

We need to keep this volume.
A volume like this for a day or two will not help but maintaining it for years to come and even increasing it will make Monero great.
If we are able to do so, we do not need to apply for exchanges to accept us but the exchanges are begging us to accept them.

100ks of XMR in trade are 0.8% in Fees if you move them into BTCs and back again twice a day for your leisure. They will be begging on their knees to get that much money out of you.
Better just HODL.

[TrueCryptonaire]

We need to keep this volume.
A volume like this for a day or two will not help but maintaining it for years to come and even increasing it will make Monero great.
If we are able to do so, we do not need to apply for exchanges to accept us but the exchanges are begging us to accept them.

100ks of XMR in trade are 0.8% in Fees if you move them into BTCs and back again twice a day for your leisure. They will be begging on their knees to get that much money out of you.
Better just HODL.

I agree, hodling is the best thing to do besides constant accumulation. When you buy Moneros, you are not buying just Moneros but  a share of the network. The wealth of the network will be also your wealth according to the size of your slice. Therefore, buying all the time and driving the price up is in the best interest of all the members in the community and a win-win situation.

[equipoise]

I know we've technically been at $1 before, but I would consider hitting and holding a dollar now to be the true 'parity party'.  
  
84 cents..... my God.  You know, to do this you have to be a little bit of a sadist.... and you have to not mind being insulted and debased for choosing a superior option that isn't as popular.  But then there's the other side of the equation when others start to recognize that you were right... and it's like   "are you guys sure???"  
  
Like, you've become so used to your legitimate asset being undervalued and insulted that when it's finally not you wonder if everyone has gone crazy somehow.  

More then an year ago I thought 1$ could be easily supported if this community wish so and we could easily stand the dumps. Then I was proven wrong. The volume last two days could mean that there are new speculators on the Monero scene and whoever sold below 0.63$ will have a hard time buying his coins back especially if the new speculators want to support 1$ price. On this volume even a Monero whale could easily gift most his Moneroj to the new speculators. The other scenario with high enough probability on my list is that a pump and dump team took over for a game or two - if this is the case we'll pop below 0.63$ quite fast - probably in less then a week.

[rpietila]

More then an year ago I thought 1$ could be easily supported if this community

Perhaps it's that the community does not care about $1's value in XMR. It's like your house. The main reason for owning is not RE speculation, it is security. As long as that's provided, there is little need to check the price.

[macsga]

Technically speaking, we're strongly moving upwards the 20k limit. If this breaks we will test again the 23K area. I hope the margins are now closed. I find it extremely bullish that I couldn't buy on 16.8k (never reached there).

CCMF.

Edit: Did anyone else notice that XMR is rising TOGETHER with BTC?

CCMF^2 

[Koamder]

I wish the price can stay around 0.0017 for some time to consolidate. The price has risen too fast.