[XMR] Monero Speculation

[rpietila]

But I don't see any good reason for bitcoin to go up.

[lolikop]

You guys talking about XMR overtaking BTC makes me think this price is a very good sell.

I think u mean buy not sell these prices are so cheap

[griffen1102]

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.

I could not get my head around it. Thanks.

So basically the buyer keeps buying the price up till the shorter gets margin called -> price spikes even more. And to prevent that the shorter has been dumping into the buyer. Correct?

Actually it is hard to estimate what really happened - it all begun with a 40k ask wall.
It started to get eaten and when it was 30k (after it moved price a couple of times) a same size bid appeared close to it.

The ask was removed and immediately dumped to the bid.

Then probably the bullwhale got pissed off and started to push aggressively higher - some bids/walls that appeared may were in fact stoplosses/margin calls from other traders. Fact is price got at around 32k and then a big dump happened probably to stop the hunt for stops/margin calls.

I don't remember if it was in the 1st or 2n dump but a big 70k ask appeared for seconds, then removed and then got dumped again.

Point is that trading/investing has not, as most people think, to do about an asset but more about as a means to 'steal' money from others.

The assets are just vehicles for market makers/ whales.

They give shit about fundamentals.

ZERO SUM GAME YAYYEAHHHHHH

[phibay]

You guys seeing the ETH pump these few days? It's crazy! I hope the people who bought Ethereum cashout their profits or else it's going to be a hard landing.

[TheKoziTwo]

I bought my first bitcoin in 2011 and didn't in my wildest dreams imagine that we would have come this far in only 5 years. It's been an enormous success. The number of vendors accepting it can't be counted. I use it everyday and love it.

But I guess it's dying now. That's what all the smart people are saying. Bitcoin is gonna be replaced by something better. It's different this time. Sure, Litecoin had faster blocks and more coins. Ripple was the future, everybody knew that. Why would we use bitcoin when we had Counterparty? Mastercoin? NXT? Heck even auroracoin had a marketcap 20% that of bitcoin at one point. Actually forget all that, now it's ETH that will kill bitcoin. This smart 19 yo wonderkid finally nailed it, now bitcoin is really dying for realz. Changing the entire infrastructure and vendors from bitcoin over to ETH will be done in exactly two weeks. That it happened so fast is pretty amazing. All that had to happen was for the price of ETH to go up and bitcoin died. From revolutionary to just another shitcoin in a couple of months.

I wonder if people will remember ETH and XMR when they have been replaced in 5 years? I doubt it.

[klee]

I bought my first bitcoin in 2011 and didn't in my wildest dreams imagine that we would have come this far in only 5 years. It's been an enormous success. The number of vendors accepting it can't be counted. I use it everyday and love it.

But I guess it's dying now. That's what all the smart people are saying. Bitcoin is gonna be replaced by something better. It's different this time. Sure, Litecoin had faster blocks and more coins. Ripple was the future, everybody knew that. Why would we use bitcoin when we had Counterparty? Mastercoin? NXT? Heck even auroracoin had a marketcap 20% that of bitcoin at one point. Actually forget all that, now it's ETH that will kill bitcoin. This smart 19 yo wonderkid finally nailed it, now bitcoin is really dying for realz. Changing the entire infrastructure and vendors from bitcoin over to ETH will be done in exactly two weeks. That it happened so fast is pretty amazing. All that had to happen was for the price of ETH to go up and bitcoin died. From revolutionary to just another shitcoin in a couple of months.

I wonder if people will remember ETH and XMR when they have been replaced in 5 years? I doubt it.

Satoshi the bagholder.

[phishead]

I bought my first bitcoin in 2011 and didn't in my wildest dreams imagine that we would have come this far in only 5 years. It's been an enormous success. The number of vendors accepting it can't be counted. I use it everyday and love it.

But I guess it's dying now. That's what all the smart people are saying. Bitcoin is gonna be replaced by something better. It's different this time. Sure, Litecoin had faster blocks and more coins. Ripple was the future, everybody knew that. Why would we use bitcoin when we had Counterparty? Mastercoin? NXT? Heck even auroracoin had a marketcap 20% that of bitcoin at one point. Actually forget all that, now it's ETH that will kill bitcoin. This smart 19 yo wonderkid finally nailed it, now bitcoin is really dying for realz. Changing the entire infrastructure and vendors from bitcoin over to ETH will be done in exactly two weeks. That it happened so fast is pretty amazing. All that had to happen was for the price of ETH to go up and bitcoin died. From revolutionary to just another shitcoin in a couple of months.

I wonder if people will remember ETH and XMR when they have been replaced in 5 years? I doubt it.

There is no correlation between ETH and XMR, so tying those two together isn't really valid. Plus the community here is trying to fill a niche by becoming the most private/anonymous digital cash that has ever been created; not pump some shitty coin that has either A) been copied from somewhere or B) been unfairly mined/distributed amongst the very first adopters. So to correlate XMR to anything else that has been created is ludicrous, IMO.

[TheKoziTwo]

I bought my first bitcoin in 2011 and didn't in my wildest dreams imagine that we would have come this far in only 5 years. It's been an enormous success. The number of vendors accepting it can't be counted. I use it everyday and love it.

But I guess it's dying now. That's what all the smart people are saying. Bitcoin is gonna be replaced by something better. It's different this time. Sure, Litecoin had faster blocks and more coins. Ripple was the future, everybody knew that. Why would we use bitcoin when we had Counterparty? Mastercoin? NXT? Heck even auroracoin had a marketcap 20% that of bitcoin at one point. Actually forget all that, now it's ETH that will kill bitcoin. This smart 19 yo wonderkid finally nailed it, now bitcoin is really dying for realz. Changing the entire infrastructure and vendors from bitcoin over to ETH will be done in exactly two weeks. That it happened so fast is pretty amazing. All that had to happen was for the price of ETH to go up and bitcoin died. From revolutionary to just another shitcoin in a couple of months.

I wonder if people will remember ETH and XMR when they have been replaced in 5 years? I doubt it.

There is no correlation between ETH and XMR, so tying those two together isn't really valid. Plus the community here is trying to fill a niche by becoming the most private/anonymous digital cash that has ever been created; not pump some shitty coin that has either A) been copied from somewhere or B) been unfairly mined/distributed amongst the very first adopters. So to correlate XMR to anything else that has been created is ludicrous, IMO.

According to forum and reddit people bitcoin will be replaced by both, so there is a strong correlation here.

[iCEBREAKER]

I bought my first bitcoin in 2011 and didn't in my wildest dreams imagine that we would have come this far in only 5 years. It's been an enormous success. The number of vendors accepting it can't be counted. I use it everyday and love it.

But I guess it's dying now. That's what all the smart people are saying. Bitcoin is gonna be replaced by something better. It's different this time. Sure, Litecoin had faster blocks and more coins. Ripple was the future, everybody knew that. Why would we use bitcoin when we had Counterparty? Mastercoin? NXT? Heck even auroracoin had a marketcap 20% that of bitcoin at one point. Actually forget all that, now it's ETH that will kill bitcoin. This smart 19 yo wonderkid finally nailed it, now bitcoin is really dying for realz. Changing the entire infrastructure and vendors from bitcoin over to ETH will be done in exactly two weeks. That it happened so fast is pretty amazing. All that had to happen was for the price of ETH to go up and bitcoin died. From revolutionary to just another shitcoin in a couple of months.

I wonder if people will remember ETH and XMR when they have been replaced in 5 years? I doubt it.

Nice to know I'm not the only one that doesn't like Bitcoin Obituaries being used to hype Monero.

Can we please leave such slimy, desperate, FUD-based selling tactics to paid spammer DashHoles like tungfa?

[GreekBitcoin]

...

I was literally just checking your profile because you were mentioned on IRC. And after months you post that exact time. Nice

I totally agree with you. My opinion on monero though is that it could have a cap of 1-10% that of bitcoin. Being the more "shady" bitcoin brother and more privacy oriented. So i can see a future where monero is still remembered in 5 years. Maybe my optimism comes because after 2 years it is still here and looking good. We all know that it is rather probable to simply wither and die though.

The trillions/gazillions numbers are too random talking at best.

Edit: I would anyway prefer monero to stay lower than btc because in my thinking that would mean that it could stay more decentralized.

[phishead]

I bought my first bitcoin in 2011 and didn't in my wildest dreams imagine that we would have come this far in only 5 years. It's been an enormous success. The number of vendors accepting it can't be counted. I use it everyday and love it.

But I guess it's dying now. That's what all the smart people are saying. Bitcoin is gonna be replaced by something better. It's different this time. Sure, Litecoin had faster blocks and more coins. Ripple was the future, everybody knew that. Why would we use bitcoin when we had Counterparty? Mastercoin? NXT? Heck even auroracoin had a marketcap 20% that of bitcoin at one point. Actually forget all that, now it's ETH that will kill bitcoin. This smart 19 yo wonderkid finally nailed it, now bitcoin is really dying for realz. Changing the entire infrastructure and vendors from bitcoin over to ETH will be done in exactly two weeks. That it happened so fast is pretty amazing. All that had to happen was for the price of ETH to go up and bitcoin died. From revolutionary to just another shitcoin in a couple of months.

I wonder if people will remember ETH and XMR when they have been replaced in 5 years? I doubt it.

There is no correlation between ETH and XMR, so tying those two together isn't really valid. Plus the community here is trying to fill a niche by becoming the most private/anonymous digital cash that has ever been created; not pump some shitty coin that has either A) been copied from somewhere or B) been unfairly mined/distributed amongst the very first adopters. So to correlate XMR to anything else that has been created is ludicrous, IMO.

According to forum and reddit people bitcoin will be replaced by both, so there is a strong correlation here.

Well not to be condisinding, but if you take everything you hear from here and reddit as gospel; then you're going to have a bad time.  What ETH and XMR are doing that I personally respect, is that they are trying to do something that's completely different from Bitcoin, I just personally find more use for XMR than I do ETH. Maybe you should form your own opinions on the matter and not listen to only opinions of people on forums, or you are just trying to be extremely satirical, can't tell.

[GreekBitcoin]

...

The first monero exchange was created by him. He has his own opinion. He responds to the opinions and too bullish speculation of others in this thread.

[TheKoziTwo]

I was satirical. My honest opinion is that bitcoin is not dying, that it won't be replaced, and if it did happen it would be a disaster for the cryptocurrency space. All coins would suffer tremendously if it takes that little for the next coin to come along and replace current. A lot of faith would be lost.

Monero is what I look at as a complementary currency.

[owm123]

You guys seeing the ETH pump these few days? It's crazy! I hope the people who bought Ethereum cashout their profits or else it's going to be a hard landing.

Exactly the same argument you can make about monero. Let me help you with this:

You guys seeing the Monero pump these few days? It's crazy! I hope the people who bought Monero cashout their profits or else it's going to be a hard landing.


So I dont see how ppl can claim that eth is pumped but monero is not in general. Both are pumped in my view, and both can go down quickly.

[explorer]

If someone wants to have up to date USDXMR charts, you can now check bit.ly/xmrcharts !
Data: poloniex for XMRBTC and bitcoinaverage for BTCUSD

Thanks for sharing that!

[phishead]

I was satirical. My honest opinion is that bitcoin is not dying, that it won't be replaced, and if it did happen it would be a disaster for the cryptocurrency space. All coins would suffer tremendously if it takes that little for the next coin to come along and replace current. A lot of faith would be lost.

Monero is what I look at as a complementary currency.

Oh, well I can agree to some extent. I do agree that I don't think Bitcoin will be going anywhere anytime soon, but I also can see a world where XMR and BTC can be 1:1. It can definitely be the ying to Bitcoin's yang. Though, don't think if Bitcoin does die that there won't be any "trust" or "market" for another "mainstream" cryptocurrency. There will always be people attracted to cryptos for personal reasons, as well as speculators... So if Bitcoin goes down, I wouldn't think everything will be going down with it.

[phishead]

You guys seeing the ETH pump these few days? It's crazy! I hope the people who bought Ethereum cashout their profits or else it's going to be a hard landing.

Exactly the same argument you can make about monero. Let me help you with this:

You guys seeing the Monero pump these few days? It's crazy! I hope the people who bought Monero cashout their profits or else it's going to be a hard landing.


So I dont see how ppl can claim that eth is pumped but monero is not in general. Both are pumped in my view, and both can go down quickly.

Exactly what I was thinking... When coins are going so cheap in comparison to Bitcoin, they can always be pumped... This doesn't exclude Monero, though in my optimism, I personally think people are starting to see the use and potential of Monero.

[dnaleor]

I bought my first bitcoin in 2011 and didn't in my wildest dreams imagine that we would have come this far in only 5 years. It's been an enormous success. The number of vendors accepting it can't be counted. I use it everyday and love it.

But I guess it's dying now. That's what all the smart people are saying. Bitcoin is gonna be replaced by something better. It's different this time. Sure, Litecoin had faster blocks and more coins. Ripple was the future, everybody knew that. Why would we use bitcoin when we had Counterparty? Mastercoin? NXT? Heck even auroracoin had a marketcap 20% that of bitcoin at one point. Actually forget all that, now it's ETH that will kill bitcoin. This smart 19 yo wonderkid finally nailed it, now bitcoin is really dying for realz. Changing the entire infrastructure and vendors from bitcoin over to ETH will be done in exactly two weeks. That it happened so fast is pretty amazing. All that had to happen was for the price of ETH to go up and bitcoin died. From revolutionary to just another shitcoin in a couple of months.

I wonder if people will remember ETH and XMR when they have been replaced in 5 years? I doubt it.

Early bitcoiners, the time is NOW to hedge your position:
weuse.cash/2016/03/05/bitcoiners-hedge-your-position/

If you own 1000 BTC, what's the harm in risking 2.8 BTC to hedge with 1000 XMR?

[aminorex]

There is clearly a market for a transparent blockchain in currency applications, which BTC fulfills as an incumbent.

There is clearly a market for an opaque blockchain in currency applications, for which XMR is the leading contender.

Whether there is a viable market for any given appcoin, I consider unclear.  It may be a fruitful area of speculation.  Frankly I think the best-proven exemplar to date is NMC.  Call me old school.

Whether XMR will retain leadership in its niche long enough to be considered incumbent remains to be proven, and hence the current price.  I consider the prospects very good.

Thus in some ways XMR is more comparable to BTC than any other crypto.  In other ways it is very different.  Certainly their best use cases are different.

I consider XMR to have more currency utility than BTC for well-known reasons.  Thus I should expect that retaining leadership in its niche will result in comparable or superior future market cap.

Each step in this chain of reasoning is subject to criticism, some more or less valid, but it is a very reasonable and supportable inference.

[TheKoziTwo]

My opinion on monero though is that it could have a cap of 1-10% that of bitcoin. Being the more "shady" bitcoin brother and more privacy oriented.

Yes exactly. A public currency (bitcoin) and a private currency (monero). They can both beautifully co-exists. The legislative pressure will be put on Monero rather than bitcoin, so with attention drawn to Monero, Bitcoin is left alone, but the nature of Monero makes it very hard to enforce. Nobody has to follow regulations with Monero because identity can not be unraveled. It won't help to legislate bitcoin when there's a shady brother unwilling to comply. It's a win win situation of which both coins benefit.

When I first discovered bitcoin I thought of the public blockchain as a disadvantage. And I still think it is not ideal. But over the years I've recognized the benefit of this as well. I expected the government to come down much harder on bitcoin, and I think if bitcoin came out fully anonymous like Monero in the beginning they might have. The public blockchain may have been a blessing in disguise, helping to bootstrap the cryptocurrency space, which now allows us to have the best of both worlds