[XMR] Monero Speculation

[klee]

Price is respecting the trendline there, lets see where we end up at the end of the day, but if this line is respected than it will probably be a couple more days till we see the next leg up.

It will because last incident proved the bears that they must bleed in order to push down this zone again!

[aminorex]

Good news for those who bid in kelvins:  http://arxiv.org/abs/1603.01482

[birr]

Good news for those who bid in kelvins:  http://arxiv.org/abs/1603.01482

from the abstract:

"tapes tests with high currents up to 3000A and many THz images of coins"

[griffen1102]

Good news for those who bid in kelvins:  http://arxiv.org/abs/1603.01482

lol bet those materials cost more than the marketcap of XMR  

[aminorex]

Good news for those who bid in kelvins:  http://arxiv.org/abs/1603.01482

from the abstract:

"tapes tests with high currents up to 3000A and many THz images of coins"

Red is reserved for moderation in this thread, recall.

[griffen1102]

Stay Tuned for previews of this weeks episode of,

Whale Wars

Special edition: Monero.

[Bicmac1973]

Completely offtopic, but if this superconductor really works and can be manufactured for a reasonable price, it would revolutionize whole industries. Maybe he would sell the patent for a handful Moneroj?  

BTW, did'nt we say that the next leg up would take a couple of days? Nice to see the bulls alive though!

[aminorex]

That 5555 ask looks suspiciously...defensive.

[Quicken]

What an entertaining, candlelit afternoon. Good time to HODL still if you ask me.

I've just bought 1BTC of moneros, wish me luck!

Best of luck and welcome to the Monero party. 

That 5555 ask looks suspiciously...defensive.

5.555 mBTC? Low for my taste. No sales below 6 mBTC.

[inca]

I think monero is going to surprise everyone and suddenly do a 10x climb in price in the next few months, probably during a bitcoin halving pump..

[Drhiggins]

Have been busy over the last 12 hours buying.  Price is really pushed up in the past few hours.  Come on XMR!   Much better buying price last night but I'll take them at the current rate too.  Oh tapped out of buying funds.  Well a good day of micro whaling. 

HitBTC has gotten so much better in the last few months.  Much faster too.  I wonder if they upped their bandwidth or migrated to a faster server.

[elrippo]

Let's get us some Popcorn and enjoy the ride 

[griffen1102]

Sell side on polo has gone from 270k XMR to 350k XMR over the past 2 hours or so.

[Kramerc]

Damn it, I missed all the fun.

I'm thinking .0023 again and then up and away.

[klee]

If I was on a margin position now (either long or short) I would be very worried...

This volatility can be very dangerous for leveraged trading.

[iCEBREAKER]

I Bought some more yesterday while it was relatively down to equally diversify my Alt holdings.....Eth/Maid/Monero

Maid?  Why?

If that wasn't a scam we'd see the cypherpunks (re)tweeting about it.  You think they'd just ignore Maid if it was a genuinely useful innovation with actual potential?

Maid is pre-Bitcoin crypto with trendy, shiny bits of BLOCKCHAIN^® bolted on as a marketing (and more importantly, ICO funding) mechanism.

You're better off with blue-chip altcoins like LTC and XPM that have proven years-long histories of real-world functionality.

[GingerAle]

If I was on a margin position now (either long or short) I would be very worried...

This volatility can be very dangerous for leveraged trading.

Thats why I don't trade. I just buy.

I speculate bananas.

Actually, I speculate that Monero has nowhere to go but up from here. I've (begrudgingly) started mining ethereum because its more profitable on my GPUs so that I can buy monero (i know, i know. flog me - but my CPUs are still mining monero). Everytime I mine new ethereum... im like.. maybe it will go up.... but I don't see or understand the fundamentals of that coin... And then I sell it on the market. And then I go "well maybe I should hold on to bitcoin because it will go up." But I don't see any good reason for bitcoin to go up. There are reasons, but I don't view them as good or long term. Primary reason is network effect. Besides that the tides in bitcoin don't tickle my fancy. And finally I'm like "i should wait to buy monero because it always corrects", and then I get impatient and just market buy. I keep trying to convince myself to hold off on buying so I can be a mini-whale of sorts after a month of mining... but the GUI is coming. RingCT is coming. Emissions keep dropping. The only thing in Monero's future that could lead to me getting cheaper coins in the future is if cryptocurrency as a whole fails or if the market makers decide that it needs to be cheap again.

So keep those sell walls up. I will nibble.

And I really speculate that eventually these whales will become less and less influential. It'd be great to see some aggregate data on market dumps. Presumable, these dumps occur because there's enough asks to cover some whale's exit move. One can also assume that these asks are distributed over many individuals. I have no idea how many people are on the poloniex xmr market.

[bitebits]

So in a matter of 45 minutes there is wild 35% increase and decrease of the price.

Can someone who trades explain what the benefit of such pump during the simultaneous dumping is? If the buyer wants to accumulate or defend a certain price level, why don't just buy anything below 0.0027 during the dumps? Why drive the price up all the way to 0.0032, what is the benefit?

[klee]

So in a matter of 45 minutes there is wild 35% increase and decrease of the price.

Can someone who trades explain what the benefit of such pump during the simultaneous dumping is? If the buyer wants to accumulate or defend a certain price level, why don't just buy anything below 0.0027 during the dumps? Why drive the price up all the way to 0.0032, what is the benefit?

Margin call the shorter.

[iCEBREAKER]

So in a matter of 45 minutes there is wild 35% increase and decrease of the price.

Can someone who trades explain what the benefit of such pump during the simultaneous dumping is? If the buyer wants to accumulate or defend a certain price level, why don't just buy anything below 0.0027 during the dumps? Why drive the price up all the way to 0.0032, what is the benefit?

No way to know for sure what % of the spike are cause and what % is effect, but a spike can potentially cause some shorts to be liquidated, which in turn causes more short squeezing as they are forced to cover.

Due to interest being charged on borrowed coins, more XMR must ultimately be repurchased than were sold short.  So you can push the price down temporarily but eventually it only comes back stronger than before.