rangedriver
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March 07, 2016, 03:41:00 PM |
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XMR has gained 30%+ in a month. How high can it go? At the same time, DASH has gained 120 - 130%. Not a good news to me because I hold no DASH lol
Still...at least you have your self-respect. Expect Monero to reach 0.005 sometime before April. Where it goes from there is dependent on development variables.Still in effect. 1-week range (0.00097 - 0.0034) has a 38.2% retracement at 0.002525 and a maximum 50% retracement at 0.002212.
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TrueCryptonaire
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March 07, 2016, 04:46:19 PM |
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Volumes are dropping now in XMR, do you guys think the rocket will begin the countdown or does it need some more buying pressure?
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Quicken
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March 07, 2016, 04:49:27 PM |
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1-week range (0.00097 - 0.0034) has a 38.2% retracement at 0.002525 and a maximum 50% retracement at 0.002212.
Eh? The 1 week min on Polo is 0.00186.
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Drhiggins
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March 07, 2016, 05:03:09 PM |
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Volumes are dropping now in XMR, do you guys think the rocket will begin the countdown or does it need some more buying pressure?
Well I will be buying later this week once funds clear from Coin Base. Slow ass Coin Base SMH. I bought lots of XMR last year when the price was down at .25 -.45¢ US but it is still a great time to buy now as price is still very low. Looks like the surge could not get past the 300 wall late Friday and early Saturday.
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Monerohash.com U.S. Mining Pool
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rangedriver
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March 07, 2016, 05:05:06 PM |
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1-week range (0.00097 - 0.0034) has a 38.2% retracement at 0.002525 and a maximum 50% retracement at 0.002212.
Eh? The 1 week min on Polo is 0.00186.
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TrueCryptonaire
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March 07, 2016, 05:09:27 PM |
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Volumes are dropping now in XMR, do you guys think the rocket will begin the countdown or does it need some more buying pressure?
Well I will be buying later this week once funds clear from Coin Base. Slow ass Coin Base SMH. I bought lots of XMR last year when the price was down at .25 -.45¢ US but it is still a great time to buy now as price is still very low. Looks like the surge could not get past the 300 wall late Friday and early Saturday. I agree it is still cheap. In my opinion this year each XMR below 100 usd is worth picking. Next year the target is obviously is different, the future of XMR looks so bright that I feel the pain of light rays in my eyes when I am gazing to the future of XMR. I am doomed to see the future, unable to prevent it.
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ArticMine
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Monero Core Team
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March 07, 2016, 05:48:33 PM Last edit: March 07, 2016, 05:59:50 PM by ArticMine |
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I do agree with the theory of a long term bear market in Bitcoin. I see this because of the following: 1) There is a widening chasm between the promise of Bitcoin, a digital and fungible currency that can be used by anyone in the world to pay anyone in the world without the need of an intermediary and the reality a digital non fungible currency that can in practice only be used as a settlement layer between the intermediaries Bitcoin was supposed to replace under the promise. 2) The macro economic factors identified by Dent and Armstrong, namely a 30s type deflationary depression. What Dent got wrong is he failed to take into account the impact of the massive quantitative easing or money printing by the central banks since 2008. This would make a strong fiat currency such as USD attractive. In the scenario above one would expect an overall bear market in crypto currency; however just as was the case during the 1930s with stocks there will be exceptions that buck the overall trend. Identifying the latter is where the real long term opportunities lie. Monero could very easily buck the trend since objectively it is very well placed to become the promise of Bitcoin. What this would point to for Monero is very strong long term prospects combined with extremely high short to medium term volatility and risk. My personal position is almost exclusively a combination of CAD and XMR with no debt. A convertible fiat other than USD can make sense where a person's expenses are denominated in that currency.
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aminorex
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Sine secretum non libertas
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March 07, 2016, 05:48:39 PM |
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I suspect that when the current BTC rise reverses, there may be more hedging inflows. I don't think the BTC/USD correction is over yet. Best support there seems to be 362-369 range.
I am deeply disappointed that the market did not take the short money. It would have been such an easy win.
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Give a man a fish and he eats for a day. Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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jehst
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March 07, 2016, 05:59:37 PM |
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If it was just an unrelated pump and there is nothing at all behind it, we could see 100k again.
If XMR is on the move, you should be buying instead of reading. Any price starting with 0.00 is good.
I think it's an unrelated pump. It is no coincidence that XMR went up alongside NEM, ETH, MAIDSAFE, etc. All of those coins have something in common: they are predominantly traded on Poloniex. This run likely has little to do with XMR's properties. It has everything to do with where XMR is traded and the fact that XMR could go up easily. This is a "polo pump." Many polo-coins will take turns getting pumped until the money that is concentrated on polo flows back out of polo Disclaimer: I've been wrong 1000 times.
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Year 2021 Bitcoin Supply: ~90% mined Supply Inflation: <1.8%
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dEBRUYNE
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March 07, 2016, 06:08:24 PM |
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If it was just an unrelated pump and there is nothing at all behind it, we could see 100k again.
If XMR is on the move, you should be buying instead of reading. Any price starting with 0.00 is good.
I think it's an unrelated pump. It is no coincidence that XMR went up alongside NEM, ETH, MAIDSAFE, etc. All of those coins have something in common: they are predominantly traded on Poloniex. This run likely has little to do with XMR's properties. It has everything to do with where XMR is traded and the fact that XMR could go up easily. This is a "polo pump." Many polo-coins will take turns getting pumped until the money that is concentrated on polo flows back out of polo Disclaimer: I've been wrong 1000 times. I beg to differ regarding properties/fundamentals:
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dEBRUYNE
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March 07, 2016, 06:11:41 PM |
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I'm going with polo-pump. We'll see....
Even if that is the reason, the high volume and price increase probably attracted a lot of new awareness.
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jehst
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March 07, 2016, 06:22:34 PM |
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I'm going with polo-pump. We'll see....
Even if that is the reason, the high volume and price increase probably attracted a lot of new awareness. I completely agree that all the XMR fundamentals are looking very good now. I just don't think those fundamentals were the things that attracted all this money to XMR recently. I think ETH brought massive money onto polo and XMR is benefiting from the bleedover. This happened during the 2013 BTC bubbles where bitcoin brought money onto BTC-E and then LTC and PPC went up towards the end of the bitcoin bubbles. I believe the same thing just happened on polo with ETH and the smaller coins on polo. I also agree that this is great for awareness of XMR. Many people were drawn into BTC just for the pump, but then they learned about BTC and began to believe in the idea of an independent money. The same thing could happen with XMR. People may come for the pump, but then stay for the fungibility.
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Year 2021 Bitcoin Supply: ~90% mined Supply Inflation: <1.8%
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Bagatell
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March 07, 2016, 06:26:49 PM |
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@jehst FWIW
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Drhiggins
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March 07, 2016, 06:35:35 PM |
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So what can be expected in price jump once official GUI wallet is released later this year? Just wondering what some of you all might think? This is the only coin that has had this much development without an official GUI wallet. I for one am glad that the dev team worked on the fundamentals first before the GUI wallet. Hell because I like Monero so much I even donated to get the GUI wallet out.
Still hoping to see some rise with official GUI wallet. Any thoughts?
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Monerohash.com U.S. Mining Pool
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TrueCryptonaire
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March 07, 2016, 06:45:39 PM |
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It might be so that there are people who will buy in once wallet is finished. It is also eadier to market non-crypto people when they have something "concrete".
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Rotator
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March 07, 2016, 06:51:34 PM |
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What are your predictions? How far can XMR goes? Can we see 0.01 like Dash? What causing this fantastic price rise?
Please someone post how can i see XMR/BTC on bitcoinwisdom. I didn't found myself, but saw few pages before in this topic. link would be best. Thanks.
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aminorex
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Sine secretum non libertas
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March 07, 2016, 06:56:24 PM |
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So what can be expected in price jump once official GUI wallet is released later this year?
I would be pleasantly surprised if there was a speculative ramp on that issue. I think it is more of a fundamental factor, as it opens up the currency to a new audience. But keep in mind that it is a gating factor, not an impulse. It enables but does not beckon. As long as there is no PR or viral burst, any impact will be felt only slowly.
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Give a man a fish and he eats for a day. Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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lolikop
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March 07, 2016, 07:03:32 PM |
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What are your predictions? How far can XMR goes? Can we see 0.01 like Dash? What causing this fantastic price rise?
Please someone post how can i see XMR/BTC on bitcoinwisdom. I didn't found myself, but saw few pages before in this topic. link would be best. Thanks.
We will see 0.02 when the wallet is out Here the wisdom link for xmr https://bitcoinwisdom.com/markets/poloniex/xmrbtc
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jehst
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March 07, 2016, 07:10:05 PM Last edit: March 07, 2016, 07:21:02 PM by jehst |
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So what can be expected in price jump once official GUI wallet is released later this year? Just wondering what some of you all might think? This is the only coin that has had this much development without an official GUI wallet. I for one am glad that the dev team worked on the fundamentals first before the GUI wallet. Hell because I like Monero so much I even donated to get the GUI wallet out.
Still hoping to see some rise with official GUI wallet. Any thoughts?
The "official GUI wallet" has become this giant bogeyman. Is it the main reason why XMR's price is low? The main reason why it will be high? No, I think you guys are giving it far too much importance. How many of the people buying Ethereum have attempted to download any of the ETH software? 10%? Hell, they were selling the stuff before the blockchain even went live. How many of the people buying XMR on polo have withdrawn their XMR? Probably 10%. Actually, 10% is generous. These "hot money" speculators don't care about the wallet. An official wallet is nice, but it doesn't drive adoption. Platforms like Cryptokingdom, Monerodice, etc. are far more important for driving adoption than the official GUI wallet (especially when there are unofficial wallets that work very well) In my opinion, .01 to .02 will happen when crypto as a whole has its next bubble. Then XMR goes along for the ride. The plan is to accumulate during periods of low interest and avoid buying when the price is hot.
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Year 2021 Bitcoin Supply: ~90% mined Supply Inflation: <1.8%
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