[XMR] Monero Speculation

[CryptoAddict]

I'm new to monero and I was looking at putting some money into it. Question, what caused the recent price spike? Was the inflation decreased?

I think mainly speculation fueled by the positive development on github as monero keeps getting closer to a 1.0 release, perhaps combined with decreasing daily emission.

Monero needs transaction amounts to be hidden from public (not just sender/receiver) and a official gui wallet, and both are close to being ready.

With those 2 in place, we can begin work on increasing amount of XMR users and merchants.

[GreekBitcoin]

Hey, at least monero is the third coin by volume today after bitcoin and ethereum

[lolikop]

So many bagholders gone weakhands gone i can only laugh about this dump

[turkandjaydee]

should release the official GUI to save the rate.

[vuduchyld]

The key with XMR, all alts, and all speculative plays in general is to NEVER buy more that you can afford to lose.

Grab the popcorn. It will remain interesting for quite some time. I will hodl what I've got and look to add more. Whatever the market sees, it sees it only short term. I disagree with Mr. Market right now.

[CryptoAddict]

So many bagholders gone weakhands gone i can only laugh about this dump

There is a certain humour to be found here. I personally find this dump nosedive just a bit too dramatic. We will most likely see a bounce to 260 soon, perhaps consolidate there before going up again. Or we will go to so sub 170k.. But I think it will be the former. Either way I don't care much, I have been invested in XMR for almost 2 years and I expect to wait at least 3 more years before I even consider liquidating some parts of my holding.

[Drhiggins]

And the gift of cheap Monero keeps on giving. I've been buying all the way down. I'd argue that Monero has be the most undervalued altcoin today, all the more so at these prices.

Indeed canth

Riding these great prices all the way down, buy as much as you can while you can. This is a gift from the universe.

https://giphy.com/gifs/alligator-crocodile-interior-pG7hkvYwl8xos

[CryptoAddict]

Considering it's Sunday and most Fiat -> BTC gateways are closed it will be interesting to see how Monday turns out.

Thats whats keeping me from buying more on this dip..

[TrueCryptonaire]

big battle going on in 220k. I will guess this is the bottom.

TrueCryptonaire, TheKoziTwo, buy back now or cry l8er

I have sold 0 Moneros in this bull run but bought some.
My overall average price is currently at 0.002ish so I do not see any reason to buy. The only reason I could be buying is if I get my average price down.

I am equally content if the price shoots from here to ATH - still bagholding.
I am very happy with the amount of Moneros I have right now and I will be extremely wealthy if the best case scenario (like 2000 usd/xmr) will take place. Until that I will keep building my portfolio elsewhere and working hard. 

[lolikop]

XMR Development @ its best and still one of the biggest nose dive in history


PURE MANIPULATION!

[CryptoAddict]

typical.. when you want it to stay cheap it goes bullmode 

[primer-]

I am very happy with the amount of Moneros I have right now and I will be extremely wealthy if the best case scenario (like 2000 usd/xmr) will take place. Until that I will keep building my portfolio elsewhere and working hard. 

Nutcase..

[TPTB_need_war]

As you said, providing liquidity is a useful activity, and empirically Monero has had relatively high volume and relatively good liquidity (by which I mean strong order books) for most of its lifetime. Contrast that with coins that may have high volume during pumps, but turn into are ghost towns with pathetic order books the rest of the time.

This thread also happens to be the most popular alt discussion thread on the entire forum by a wide margin. Is that a coincidence, or is having a good, active venue where traders and long- and short-term speculators can communicate (sometimes seriously, sometimes more socially, sometimes ignorantly, sometimes informatively, sometimes manipulatively) part of what contributes to that liquidity?

I'm not sure it is really possible to separate out the factors that have made Monero as successful as it is.

It's certainly not for everyone though. If I were forced to consistently read the BTC wall observer thread, suicide would become an attractive alternative.

Good point. I wouldn't conceive of using humans as "wind up toys" (collateral damage)^* as a way providing that liquidity though. I hope for another means to that end.

^* I guess there is a skill in every thing even I perceive it to be mundane, just doesn't correlate to my interests. For example, I am researching right now the a novel design for a new programming language.

Some evidence supporting smooth's logic above:

Market cap is not a measure of anything real such as liquidity because for example if just 1% of the supply of Dash was sold it would cause the price to drop 99% whereas only 20% for Monero.

[25hashcoin]

Hey, at least monero is the third coin by volume today after bitcoin and ethereum

4th if you count ltc/cny

http://www.cryptocoincharts.info/coins/graphicalComparison

[wpalczynski]

I was sure it would be different this time but guess not.  I think we are going back sub 20 but I cannot see going as low as 10 however.

[TrueCryptonaire]

When Aminorex is speaking us about wheat futures and options and some currency trading opportunities it is time to load some Moneros. I've noticed that when he is bullish, the correction is on its way and when there are trading opportunities elsewhere the price is at the bottom.

[inca]

Whale still trying to push the price down..

[wpalczynski]

Whale still trying to push the price down..

I dont think its as much whale manipulation as people make it out to be.  I think people are making assumptions about impending price action based on prior performance and positioning themselves accordingly.

[inca]

Whale still trying to push the price down..

I dont think its as much whale manipulation as people make it out to be.  I think people are making assumptions about impending price action based on prior performance and positioning themselves accordingly.

Big seller using ask walls to try and guide the price downwards..

[Days]

I don't see it going down to 0.001 anymore. The volume in the recent run was far too large to suddenly (or even protractedly) allow going back to such low levels. There is also a massive historical support in 0.0018 and up, so I'd be pretty content to buy here if the portfolio can bear more XMR. The emission is constantly shrinking, so it is faulty to compare current situation to the previous valley in 0.001s.

Also it's good to consider that the runup took weeks and was very careful. The sudden crash to 0.002 just screams a short-term reaction back up, so if selling is the intent, hold your horses, you'll get a better price for sure from the normal oscillation, no matter where the price is heading mid-term.

My feeling is overall quite positive, and the probability that the uptrend will continue despite the carnage of the last days is high in my opinion.

Longer term, the probability of negative scenarios is larger than that of the positive, but this is more than made up with the obscene upside in the positive scenarios, compared to the meager downside even in the most negative ones (-100%).

I see you here whenever Monero takes a dump, are you a big P&D whale here?

I think this coin is being dumped by the same people who develop it like FluffyPony & Othe after all Othe gets 21800 Monero alone from Fluffypony's gambling site as the biggest winner there. This is what you get when your own developers play the pump & dump like twice a year doubling their BTC stack on pure speculation hype threads like this one.