[XMR] Monero Speculation

[dEBRUYNE]

Seems like a breakout on decent volume:



Also, in a bulltrend the probability of a symmetrical triangle breaking upwards is higher than breaking downwards.

Next up is ~320k resistance

[vuduchyld]

First of all, very good post, thank you for sharing your thoughts.

Thank YOU.  Coming from you, I consider that high praise!

Two really good points you make below make me feel better:

Monero works and fits excellent as a store of value over long periods of time because it is the best anonymous coin out there and you want your wealth to be known only by yourself, not your neighbourgh or some thief.

...bigger turbulence requires some bear whale to move - miners cannot do it anymore unlike perhaps 1-2 years ago.

Thanks!

[vuduchyld]

If your Monero is sitting off an exchange, under your sole control, that is the hardest realized gain there is.  
  
It's holding ETH or USD that should worry you.

I agree in theory, but it's still tough to buy bread or put gas in the car with XMR.  In fact, it's a two-step process, as far as I know, because you have to move into Bitcoin and then into your local currency (usually, unless you can pay with Bitcoin for some things). 

As for ETH, I've scratched out a few short term gains on trades over the last 30 days, but I'd NEVER hold it for any period of time that I wasn't actually sitting at my computer screen watching price movement.  NO WAY would I fall asleep for 6-8 hours holding ETH.  For what it actually is, I think it is grossly, ridiculously overpriced.  In fact, that is why I'm worried about the impact on XMR when the shit hits the fan.

[nioc]

I placed bids last night thinking it was possible to sell any acquired for a profit and thereby average down at least a bit.  Well a couple of my bids were filled below freezing.  The price has just spiked to ~300 but once more I find that my sell button is broken.

[twistelaar]

Any thoughts on ETH guys? Just cant get a grip on this BEAST. thanks

[explorer]

I placed bids last night thinking it was possible to sell any acquired for a profit and thereby average down at least a bit.  Well a couple of my bids were filled below freezing.  The price has just spiked to ~300 but once more I find that my sell button is broken.

If you itch to sell, sell brokencoin bitcoin for XMR.  Instant gratification 

[explorer]

Any thoughts on ETH guys? Just cant get a grip on this BEAST. thanks

There is nothing in the world more helpless and irresponsible and depraved than a man in the depths of an ether binge
                             

                             

[lolikop]

Any thoughts on ETH guys? Just cant get a grip on this BEAST. thanks

Expect a dump this week back to 0.015

[aminorex]

Expect some portion of ether gains to book as monero.  Mine just did.

[americanpegasus]

I see what you expect for tomorrow, sell the BFX news, pop the bubble and short the hell of. But could be that some whales anticipating this, squeeze the hell of the shorters as well... whatever the output, the turbulence is almost guaranteed

Some trading advice: once everyone 'knows something', look out.  As one of the few people to make a little bit on an ETH short (last time it fell from 0.03 to 0.022), at the time of shorting everyone in the world thought it was a damn fool move - ETH was invincible and could only go up.  
  
Now Monero-land is filled with true-believers holding long-and-strong spot; not a lot of euphoria around here - merely a quiet resolve and patience.  That is fine.  In fact, if you mention XMR or Monero in most forums (/biz/ or the troll box) you get met with some confusion and skepticism.  That is also fine.  
  
But there will come a time when Monero can only go up.  When we pierce new price levels so quickly that people's heads are spinning and they are rushing to margin long as fast as possible to capture the XMR train that 'only goes up'.  You will see multiple XMR threads on /biz/ and people will consider dropping out of college to pursue a 'career in crypto trading' based soely on their XMR trading gains.  It will be a euphoric dash.  
  
That's when you, even as a long term hodl'er, should start to get nervous.  Long term I do believe that XMR goes to $1000+ (unlike ETH, which I have my doubts on), but nothing moves in a straight line.  Luckily, 300k satoshi is nothing compared to what's coming - I'm convinced of it.  We will look back on page 700-something and laugh.  This topic will go to 1500+ pages, and then 2000+ pages in the span of a couple of months.  You will hear the phrase "new paradigm" used in conjunction with Monero for the first time.  
  
And that's when you should get fearful.  I've seen this before, and I'm getting better at recognizing it.  But that's much later in the book - until then enjoy the conclusion to the first act.  

[dEBRUYNE]

MAAM #7 Monero Ask Anything Monday:

https://www.reddit.com/r/Monero/comments/4aaglw/maam_7_monero_ask_anything_monday/

[ikanunaki]

With glasses you look better

[americanpegasus]

I heard Vitalik has been brushing up on his Chinese. 
 
As a middle aged man, I don't consider myself able to ever be fluent, but do you guys think that if one wishes to be involved in cryptocurrency they should at least learn some basics? (perhaps merely as a sign of respect, should one visit China eventually).  I picked up some Russian basics over the last ten years, and that was difficult enough - the thought of starting from scratch with a new language is daunting, but life is long... and a native English speaker who could also speak Russian and Chinese would be in a lucrative position, regardless of any other abilities.

[GingerAle]

[aminorex]

I found written Chinese to be endlessly fascinating, and spoken Chinese to be endlessly frustrating, due to tones.  I began study in my 40s.

[twistelaar]

So the price of XMR is now 300k Satoshi, marketcap of 12 million. Stll pretty low, for a coin like XMR. x10 easily from here, but in how many time?

[lolikop]

rofl nice one

[americanpegasus]

So the price of XMR is now 300k Satoshi, marketcap of 12 million. Stll pretty low, for a coin like XMR. x10 easily from here, but in how many time?

I don't know about 10x, but Dash's market cap is approximately 3x ours... which seems absurd that Dash would be more highly valued.  Our GUI release is speculated within a few months, by which time I would expect this discrepancy to be corrected.  Do not trade on my advice, but I personally am expecting $5 Monero by 3rd quarter of 2016.  That seems reasonable, IMHO.

[twistelaar]

So the price of XMR is now 300k Satoshi, marketcap of 12 million. Stll pretty low, for a coin like XMR. x10 easily from here, but in how many time?

I don't know about 10x, but Dash's market cap is approximately 3x ours... which seems absurd that Dash would be more highly valued.  Our GUI release is speculated within a few months, by which time I would expect this discrepancy to be corrected.  Do not trade on my advice, but I personally am expecting $5 Monero by 3rd quarter of 2016.  That seems reasonable, IMHO.

Yeah I dont like dash at all.

But how about BTC, everybody is talking about an upcoming pump with the halving block size in sight.. but there is also the clash between core and classic, how do you think this will look like and ofcourse effect alts like XMR

[iCEBREAKER]

Any thoughts on ETH guys? Just cant get a grip on this BEAST. thanks

How many BTC would you like to have owned for $14?

1000?  10,000?  100,000?  You are not alone.



To be clear, XMR currently stands alone with BTC and ETH as the only Szaboshi-endorsed cryptos available for retail consumption.

Short and FUD trash like Maid and Dash.  Don't hate on the legit stuff.

ETH is doing a lot of heavy lifting for XMR...