[XMR] Monero Speculation

[Trade_BTC]

I agree with the fundamental of xmr but pumps like these in succession will not end up attracting users in the end.

We all bow to your experience.

We both own xmr I'm just being realistic whilst that was just douche talk.

[TrueCryptonaire]

When the market cap of Monero will exceed the marketcap of bitcoin that will be a great day. When shall it happen?

[tifozi]

I agree with the fundamental of xmr but pumps like these in succession will not end up attracting users in the end.

We all bow to your experience.

We both own xmr I'm just being realistic whilst that was just douche talk.

Im surprised they had the money to pump it as xmr wasn't an easy one to pump oh well full retrace with slightly higher floor coming. Predicting 0.0033 sat

Another realist. We have seen this before, plenty of times. Some have left the thread though, so hats of to you for sticking around  but no need for "douche"baggery.

[Trade_BTC]

I agree with the fundamental of xmr but pumps like these in succession will not end up attracting users in the end.

We all bow to your experience.

We both own xmr I'm just being realistic whilst that was just douche talk.

Im surprised they had the money to pump it as xmr wasn't an easy one to pump oh well full retrace with slightly higher floor coming. Predicting 0.0033 sat

Another realist. We have seen this before, plenty of times. Some have left the thread though, so hats of to you for sticking around  but no need for "douche"baggery.

See the post above yours this is exactly what a project doesn't want because the rug is going to be pulled and then maybe it will make more sense. Do you really want the current positive sentiment fraught with the cries of scam coin when the market corrects? 10× is not organic growth....

[aminorex]

If we don't have an overshoot and crash at some point, then folks will begin to question whether they can use early bitcoin as a precedent for reasoning about price.  My guess is that will only increase FOMO, due to lack of a cheap entry.  

I have been uber-bullish for more than two years.  Call it "book talk" if you like.  I call it "putting your money where your mouth is".  If I face a massive draw-down at some point, so be it.  I already paid for that in my domestic life, so I am going to exploit my greatest investment power to the maximum, namely, the power of patience.  I have seen too many people miss out on the exponential moves by out-smarting themselves - and even done it myself a bit - so I refuse to make that mistake.  "Be right and sit tight" is the classic street wisdom.

It is entirely possible, albeit highly unlikely, that Monero will prove to be much more of a one-way asset than bitcoin ever was.  Every miner who sold XMR for 17 cents should be slapping themselves silly right now.   A few lucky ones may have eked out a few pennies of profit by shorting XMR from time to time, but I am pretty sure that none of the shorts have seen the multiples that long-term holders have seen.  In fact, almost everyone who has ever shorted XMR is probably very stung, and stuck with a huge loss.  Who is left to sell, if both miners and speculators are punished so harshly for it?  Our whale accumulator may dump again  - if it worked before for him ... but I don't know that it has, and I am quite sure that his carry cost is far less than his amortized gain, so he has little or no reason to dump if it didn't work.

It may be the reserve demand on XMR will significantly outpace that of bitcoin.  If so, we will not experience bitcoin's historical levels of volatility, but rather something more like its recent (2015  - 2016) relative stability and steady appreciation.  I am just describing a possible scenario, not making a prediction.

The demographics we can count on to provide liquidity are merchants and market-makers.  So trading bots are good.  But I would still prefer a humans-only exchange for my personal, very human, trades.

[Trade_BTC]

^Fair assessment while my view is different I think it's best during this to hold as well.

[Dafar]

When the market cap of Monero will exceed the marketcap of bitcoin that will be a great day. When shall it happen?

Never. Stop FUDing bitcoin

[aminorex]

When the market cap of Monero will exceed the marketcap of bitcoin that will be a great day. When shall it happen?

Never. Stop FUDing bitcoin

I think 2024.  Around 5 oz Au.  (Not sure USD exist in 2024.)  Total WAG, no science.

[tifozi]

^Fair assessment while my view is different I think it's best during this to hold as well.

Your thoughts seem to be very incoherent. Why would you hold on to anything right now when the rug is going to be pulled, given this was inorganic growth? Shouldn't you be waiting for something you predicted yourself just a week ago?

Im surprised they had the money to pump it as xmr wasn't an easy one to pump oh well full retrace with slightly higher floor coming. Predicting 0.0033 sat

[iCEBREAKER]

Bitcoin was supposed to be digital e-cash. Cash has to be fungible. Monero is the best fungible digital e-cash contender out there right now. The day people start to worry about whether the funds they are being paid in are tainted. They start to feel that sense of creeping dread that maybe that 20 grand they just accepted as payment for their car could be worthless. That is the day they switch to XMR in mass. Unless bitcoin manages to overcome the politics that are burdening it and find a solution to this problem. Which they might.

Won't confidential transaction solve the problem of fungibility of bitcoins?

No chance Bitcoin of getting CT in the short term.  But many users need fungibility Right Meow, so Monero fills the gap.

Medium term, perhaps CT will be successfully launched on a sidechain.  But you can still see which BTC are associated with that tainted sidechain, so back to square one.

Long term, good luck making a hard fork to add a feature rather than fix a dangerous bug.

[Biro Bob]

BTC had a much more difficult journey to get to its current price. Converting from dollars wasn't straightforward. With the learning curve, bank transfer delays, AML, KYC and general grief meant buyers really needed to WANT them coins. In 2016, the principal vehicle to buy XMR is Bitcoin. As such, the customers are much more crypto savvy and can transfer large amounts of Bitcoin to an exchange easily and instantly.

XMR has always been a great currency - but only now has it become used as one. As such, the speculation phase initated by the visionary believers is being replaced by genuine asset value and the 'ludicrous' pricing is just a reflection of that.

As I'm sure most of the Bitcoiners from 2011 would agree, XMR is Bitcoin 2.0 and at $15 is very very cheap! Day trading may be risking your long term wealth but a small buy and hold strategy is better than buying a lottery ticket!

[nanobrain]

I agree with the fundamental of xmr but pumps like these in succession will not end up attracting users in the end.

We all bow to your experience.

We both own xmr I'm just being realistic whilst that was just douche talk.

Hey, you asked a question and I spent time providing a number of reasons why you should actually invest and this isn't a PnD coin.  You chose to ignore that post.

I'm not sure what your position is now, you seem to vacillate between so many.

Nevertheless, in the time between you calling the XMR price ludicrous and my writing this post it has gone up about 80cents.

[nanobrain]

In case anyone missed it (@deBruyne originally posted this) https://www.litebit.eu/ has opened up an XMR/EU market on their exchange.

1XMR currently worth €13.0094

[smfuser]

...

...

I agree with the fundamental of xmr but pumps like these in succession will not end up attracting users in the end.

I disagree. XMR at $30-$50 will see far more "investments" ( compared to the current prices) from the network we are talking about here. They won't see it at the moment, and won't let their network see it (scamcoiners that is). Currently the ones who are getting in know exactly what is going on and what is in store for the future. They are not going to make a splash about it. Roger Ver seems to be an exception to this, and I very much doubt his authenticity as well given that this is a potential conflict of interest. He may be genuinely diversifying but hard to say.

What potential conflict of interest were you referring to? What do you believe to be Roger Ver's true motive? Do you believe he made a substantial investment in Monero, which was more than in any other altcoin?

[Johnny Mnemonic]

10× is not organic growth....

Why not? What does the magnitude of price increase have anything to do with the growth being "organic?"

While you're at it, please define what you think "organic growth" even is. To me, it's an increase in demand, which is exactly what we're seeing here.

[Johnny Mnemonic]

What potential conflict of interest were you referring to? What do you believe to be Roger Ver's true motive? Do you believe he made a substantial investment in Monero, which was more than in any other altcoin?

Roger Ver is an investor in zcash: https://z.cash/team.html

[bbc.reporter]

Bitcoin was supposed to be digital e-cash. Cash has to be fungible. Monero is the best fungible digital e-cash contender out there right now. The day people start to worry about whether the funds they are being paid in are tainted. They start to feel that sense of creeping dread that maybe that 20 grand they just accepted as payment for their car could be worthless. That is the day they switch to XMR in mass. Unless bitcoin manages to overcome the politics that are burdening it and find a solution to this problem. Which they might.

Won't confidential transaction solve the problem of fungibility of bitcoins?

No chance Bitcoin of getting CT in the short term.  But many users need fungibility Right Meow, so Monero fills the gap.

Medium term, perhaps CT will be successfully launched on a sidechain.  But you can still see which BTC are associated with that tainted sidechain, so back to square one.

Long term, good luck making a hard fork to add a feature rather than fix a dangerous bug.

Why does it have to be a sidechain causing more problems and headaches? Why not make use of bitsquare and make that the layer in between BTC and XMR direct transfers? Would that make a safer solution?

[36524s]

Xmr needs to get onto more exchanges before worrying about btc.

[Its About Sharing]

Am I the only one who thinks buying a coin that is still 10x what it was 20 days ago is ludicrous? Apparently so by today's pump debacle.

Can your argument really be based on a 20 day period though? What about the larger period. Monero has been around a while, one can say it slipped through the cracks for most of that time. And now Big Money, apparently, has gotten involved. We know as fact that Roger Ver is, so probably some people who are either cohorts or of like stature, financially.

So, are you also going to argue for Monero being undervalued the years prior, or does your argument just qualify for the period you don't like?

Seems like you picked a period you don't like and ignored the larger one that is just as meaningful. (Oh, and the tech is NICE  )

[nanobrain]

What potential conflict of interest were you referring to? What do you believe to be Roger Ver's true motive? Do you believe he made a substantial investment in Monero, which was more than in any other altcoin?

Roger Ver is an investor in zcash: https://z.cash/team.html

I've just been looking at the zcash site -- they all seem like a very shiny bunch, about as far removed from the ideals of the early BTCers as you could imagine.  My first impression was...the Apple of crypto and it makes me wonder why such a bunch would be interested in privacy.  They seem quite forthright that they are in it for the wealth.

But I suspect a lot of funds will flow from the PnDpers who will see a ground floor opportunity.