[XMR] Monero Speculation

[Dafar]

I am looking at 1 hr chart on bitcoinwisdom.
To me it appears bullish and now just stability (pretty bullish triangle starting from 19th or 20th of August). The coming hours will show us to which direction to go.
I might be wrong, and my speculation do not affect on my trading because I simply hold, but I am inclined to think the coming months are good for Monero. I am 99 % sure the DNM acceptance will not harm the adaption of Monero. Therefore, if you think in the same manner and happen to want to sell some of your coins, may I suggest you to get the best price possible and put the coins for sale instead of dumping with slippage discount. Eventually the dark market customers will buy those coins - sooner or later and vendors most likely just hold as many Moneros as possible because of privacy reasons.

Imo, future potential due to DNM adoption... huge. But it might take time to see that demand creep up to the price.

The 400%-700% over the last week was purely based on speculation and hype. So in short term the price has room to retrace a lot. XMR doesn't even have a GUI yet. How much XMR will actually be used is yet to be seen. I think the whole Alt market is overbought right now due to BTC stability and that will switch very soon. BTC doesn't stay boring for long, once it rises again the alt coins are going to drop again.


But if you're just holding it shouldn't matter... I think a market cap of 500M for XMR is fair game, just how soon I don't know

[1714627394]

1714627394

[1714627394]

1714627394

[Its About Sharing]

Hmmmm.....
In my honest opinion this whole pump is irrational, and the people following this pump act irrational.
If you can discuss in crypto using the terminus "rational" the way to go would be to pump, hold it for a while and then dump deaply. As this is not acuring yet, i believe this irrational behaviour will continue to a certain point and then the fall will be very hard.

Some factors to force the pump even more are
#1 The bitfinex hack
#2 The ETC/DAO hack

If these guys are smart and tend to like anonymity, they will propably use XMR to disguise their traces to some extent.

If i take a look at the price chart, the resistance 0,014 is at the moment speaking the strongest line --> which corresponds to a 23,6% fib from the last high.

There was a post in the morning stating a break out, no matter in what direction in the next 12 hours, so in the evening we will see if this irrational behaviour will continue, hold on to your coins, no matter if XMR or BTC  

I see a "pump" as an artificial movement of the price up with the intention of dumping for profit. The question is, is this "artificial", meaning a pump, or did a) those events you mentioned b)DNM buyers c)regular large speculators getting in d)Agencies e)Risto buying more ,etc.

Regardless, it is an anonymous choice. I can't see BTC doing an anonymity type upgrade/fork and not sure a soft fork could work. And also, we have to consider that very well off people have no problem taking out a ".1-.5%, etc.) of their wealth "insurance policy" in the form of Cryptos. I do wonder how much of that is going on? The market cap of these Cryptos is basically not really worth mentioning in the global scheme of things, but it shows there is quite a bit of interest (and if the get the block size in BTC resolved, we might see BTC used as a back end for parts of the financial system (in time.))

I get more than a feeling that if Crypto can continue relatively unabated, that in a few short years, coupled with so many economic problems, Crypto might
become something that has really helped to transform finance, government, banking, economic "theory", etc. It took a while for the internet to evolve and that changed information as we knew it and now we can all see that same thing is on track with Crypto. Given the global variables at play, that perhaps we have an immature answer at our feet. And watching these
"techs" grow organically (with one another, other systems, networks, etc.) is gonna be amazing.

[BitcoinNewsMagazine]

Bitcoin has had 61.8% to 78.6% corrections before and recovered. No reason to doubt the same will happen with Monero at some point. aminorex has already posted sexy buy zones.

I am inclined to buy below 013, in increasing size all the way down.  012--013 was the last moderately stable intraday level, and represents a 50% retracement of the impulsive weekend move.  But I won't buy much.  Unless it gets crazy, like under .01.  Then I will abandon restraint.

[rpietila]

Bitcoin has had 61.8% to 78.6% corrections before and recovered. No reason to doubt the same will happen with Monero at some point. aminorex has already posted sexy buy zones.

From $31.99 to $1.99 is about 94%, and Bitcoin did just fine afterwards.

For comparison, it would roughly be the same as going to 0.001 now, and afterwards hitting parity with BTC. 

[aminorex]

For comparison, it would roughly be the same as going to 0.001 now, and afterwards hitting parity with BTC.  

Mercy, please.  You are making me ache with desire.

It would be remarkably easy to ding the price with a news hoax right now.  Premature though.

Monero is #21 on Hacker News (news.ycombinator.com).  You might want to vote for it.

[BitcoinNewsMagazine]

Now with the high volume there is some chance that classical TA like Elliott Wave could be useful. The August 21 high of .00938 would be very strong support and you can also consider the most recent Fibonacci levels:

[Roy Badami]

I wasn't aware you could get actual legit medications on DNMs. I may have to look into doing that.

It gets harder and harder every day to buy low-cost prescription medications with credit cards.  For payments that actually work, there's Monero.

That sounds like the voiceover to a commercial. It's true, though. The credit card companies have been cracking down on online pharmacies hard recently.
Little do they realize, they may be digging their own graves.

Unfortunately those who buy from illegal online pharmacies are often digging their own graves, too - that's part of the reason governments are cracking down on them.  The incidence of customers receiving medication that is at best ineffective and at worst actively dangerous seems to be quite high.

[dEBRUYNE]

Update on the official GUI

https://www.reddit.com/r/Monero/comments/50d54y/update_on_the_official_gui/


Update on 0MQ

https://www.reddit.com/r/Monero/comments/50d0u5/update_on_0mq/


Update on Trezor for Monero

https://www.reddit.com/r/Monero/comments/50cywx/update_on_trezor_for_monero/


Logs for the Kovri Dev Meeting Held on 2016-08-28

https://getmonero.org/2016/08/28/logs-for-the-Kovri-dev-meeting-held-on-2016-08-28.html


Overview and Logs for the Dev Meeting Held on 2016-08-28

https://getmonero.org/2016/08/28/overview-and-logs-for-the-dev-meeting-held-on-2016-08-28.html

[megadeth]

Impending launch of Zcash will supercharge XMR.
Theres demand for anoncoins and space for more than one.

[Dafar]

Impending launch of Zcash will supercharge XMR.
Theres demand for anoncoins and space for more than one.

Is Zcash not another alt coin? I thought it was a competitor like Dash... why would it supercharge XMR?

[Azael]

Looks like Ethereum Classic is passing by you guys tonight. I always like when my coins meet..

[aminorex]

Interesting, that there are 111 BTC virtually right on the bid, yet no one wants them.  They would rather keep their Monero.

[coinism]

slowly integrating the acceptance of a possible 500m xmr mc by the end of 2016. 5-10% btc mc atm seems impropable, but it might get there eventually.
it's currently at about 1.19% btc mc.
it's practical to stash your keep in xmr instead of btc. That alone should drive up the price for it's part.  

gui is key in the mid-long term if it actually wants to get to 500m.

[Anon136]

The gui thing is actually starting to become a big deal now. Previously almost everyone in the community was comfortable with CLI and we had no need to rush adoption so it didnt really matter very much. But now as we see slightly wider spread adoption, more people who are not comfortable with CLI are coming into the space. The problem here is that this probably means people are keeping WAY too many monero on the exchange. Making it a very ripe target for attack. A lot of people might get burned because of this.

[birr]

We know about the great run of 2013 but we never experienced it ourselves. And we want to. Everyone does. Everyone wants the thrill of watching a currency taking off and not coming back down.

Helloooo...  2014

[Altitude]

XMR classic. Scam right?

[Febo]

XMR classic. Scam right?

They sell tokens. I dont think you can call that a scam. But what will buyers do with them then is a mystery to me.

[RayX12]

Hello XMR baggers... are you done dumping yet??  Now let the rise continue! 

[Hueristic]

slowly integrating the acceptance of a possible 500m xmr mc by the end of 2016. 5-10% btc mc atm seems impropable, but it might get there eventually.
it's currently at about 1.19% btc mc.
it's practical to stash your keep in xmr instead of btc. That alone should drive up the price for it's part.  

gui is key in the mid-long term if it actually wants to get to 500m.

The Gui wrapper can be compiled and used right now. It failed on the import for me but I don't think the code is there yet (but I'm too lazy to look). It created a wallet just fine though. I compiled under latest ubuntu without issues (well one library was stubborn but thats not the programs fault).

Hello XMR baggers... are you done dumping yet??  Now let the rise continue! 

dump will never end when botnets get free coins, just get used to it.

XMR classic. Scam right?

99.99999% yes

[RayX12]

slowly integrating the acceptance of a possible 500m xmr mc by the end of 2016. 5-10% btc mc atm seems impropable, but it might get there eventually.
it's currently at about 1.19% btc mc.
it's practical to stash your keep in xmr instead of btc. That alone should drive up the price for it's part.  

gui is key in the mid-long term if it actually wants to get to 500m.

The Gui wrapper can be compiled and used right now. It failed on the import for me but I don't think the code is there yet (but I'm too lazy to look). It created a wallet just fine though. I compiled under latest ubuntu without issues (well one library was stubborn but thats not the programs fault).

Hello XMR baggers... are you done dumping yet??  Now let the rise continue! 

dump will never end when botnets get free coins, just get used to it.

XMR classic. Scam right?

99.99999% yes

How many coins are mined by botnets..   

Also I suspect a coordinated effort to dump XMR with the classic scam timed just right.  Some whales are playing along with the scam to hold the rise and profit.  But hey, this is crypto full of scams, thiefs, manipulators, extremist, etc.