[XMR] Monero Speculation

[aminorex]

XMR is going to be suppressed for the masses and embraced by the party princes in China.  I doubt we will ever see a Huobi-style pump from PRC punters, but the big money...that is going to creep up on you and slingshot you to the moon when you least expect it.  Day-traders will be rekt and hodlers will meet their apotheosis in a sudden moment.

I am guessing the 1bn mcap mark might trigger the first trickle of serious off-shoring money flows from China.  Until then it's just too market-moving.  Try to buy a million monero some time.  Ha!  Litecoin established a precedent of Chinese interest in #2, so passing ETH mcap is another possible trigger point.

Negative elasticity indeed.

[1715552796]

1715552796

[Billy Bunter]

Not as far as I know - the list of things I know I don't know is extremely long, the things I don't know I don't know infinite.

You and me both.

Thanks for the input - I always enjoy reading your posts.

[TrueCryptonaire]

XMR is going to be suppressed for the masses and embraced by the party princes in China.  I doubt we will ever see a Huobi-style pump from PRC punters, but the big money...that is going to creep up on you and slingshot you to the moon when you least expect it.  Day-traders will be rekt and hodlers will meet their apotheosis in a sudden moment.

I am guessing the 1bn mcap mark might trigger the first trickle of serious off-shoring money flows from China.  Until then it's just too market-moving.  Try to buy a million monero some time.  Ha!  Litecoin established a precedent of Chinese interest in #2, so passing ETH mcap is another possible trigger point.

Negative elasticity indeed.

I like your post. It is not bearish at all since you did not say you are bullish on Monero. Just told some facts mixed with some speculation.

[TrueCryptonaire]

Bear in mind chances are the rise of Monero might have been the trigger of  growth in btc marketcap. If I am not mistaken Monero represents quite large portion of the trading of btc in coinmarketcap. There might be people with fiat looking for entrance to XMR. I actually consider this relatively probable due to the dnm acceptance of xmr. Monero is incredible tool saving money anonymously outside of the convenient banking system.  Therefore I am giving some odds for bitcoin rain to the marketcap of xmr.

[coinism]

Looks like the floor is about 11.5-12 usd now it seems. it's holding pretty well, despite a few down but also up swings. especially astonished how well XMR has kept it's cool despite the BTC rally.

[mambamanagement]

Looks like the floor is about 11.5-12 usd now it seems. it's holding pretty well, despite a few down but also up swings. especially astonished how well XMR has kept it's cool despite the BTC rally.

I'm always amazed how quickly things become the new normal in this new age
are the markets in the process of pricing xmr>btc?
who knows, time is the ultimate truth teller
(seems crazy but i wouldn't be shocked if it happens in 2018)

[aminorex]

If I am not mistaken Monero represents quite large portion of the trading of btc in coinmarketcap.

About 20% right now.  I've seen closer to 50% when it was running hot.

I think a significant share of the BTC being bought is being spent on XMR, or will be over the weekend up-coming.

When it breaks through 0200 again, I expect a jump, possible squeeze.  Shorts need to defend 0200 with vigor, or they are rekt.

Bid side 8300 BTC now, asks down to 300k.  EPIC.

[alphahacktivist]

If I am not mistaken Monero represents quite large portion of the trading of btc in coinmarketcap.

About 20% right now.  I've seen closer to 50% when it was running hot.

I think a significant share of the BTC being bought is being spent on XMR, or will be over the weekend up-coming.

When it breaks through 0200 again, I expect a jump, possible squeeze.  Shorts need to defend 0200 with vigor, or they are rekt.

Bid side 8300 BTC now, asks down to 300k.  EPIC.

the near 9k xmr guy is not moving out of his position though. he is all but recouping on more xmr grabbing everything he can while he still can.

imho 1/3 of the btc bought during the day will be spent on xmr tomorrow. but again thats just my opinion. i can be wrong... very wrong

[Anon136]

Chart starting to show some hints of maybe starting to turn.

[neilol-real]

Chart starting to show some hints of maybe starting to turn.

Bids continuing to build...broke and held above the down channel on the 1h... on low(ish) volume

Seems like deja-vu...oh wait

Perhaps I'm just fishing.

Bids building...volume flattening...deja vu? Feels familiar

Not sure why I cant figure out [img] syntax.. http://imgur.com/a/C4zaY

[aminorex]

Chart starting to show some hints of maybe starting to turn.

Yeah, I expect one last desperate slam-down, with suppressive fire, as shorts attempt to cover before the weekend jam session.

Seems like deja-vu...oh wait

The sabbatarian wedge.  It is awesome.

[TrueCryptonaire]

If I am not mistaken Monero represents quite large portion of the trading of btc in coinmarketcap.

About 20% right now.  I've seen closer to 50% when it was running hot.

I think a significant share of the BTC being bought is being spent on XMR, or will be over the weekend up-coming.

When it breaks through 0200 again, I expect a jump, possible squeeze.  Shorts need to defend 0200 with vigor, or they are rekt.

Bid side 8300 BTC now, asks down to 300k.  EPIC.

the near 9k xmr guy is not moving out of his position though. he is all but recouping on more xmr grabbing everything he can while he still can.

imho 1/3 of the btc bought during the day will be spent on xmr tomorrow. but again thats just my opinion. i can be wrong... very wrong

I agree. Cash is probably the best alternative when it comes to privacy of wealth. However, Monero is probably the second best. The advantage over cash with XMR is the fact that XMR is digital and the storage is not that big problem with XMR than with cash.
Therefore I actually see the current btc rally being triggered by XMR. The rally of btc in the beginning of the year was triggered by ETC (former ETH). I think alts are representing quite large portion of the demand of BTC and if there is some alt that has some purpose (like ETC or XMR) and it starts to take off, then there will be FOMO combined with the real use.
However, it is funny how little I feel FOMO (despite I am nibbling) with XMR and I have the gut feeling people here are so used to high expectations that they do not bother to become euphoric when XMR is merely sub 100 usd still... I think even 100 usd will not create euphoria anymore... Personally I have no strict plan to sell XMR, probably not thinking to sell even because I would need the purpose for such cash and anyway I will regret it later when XMR flies even higher.

Wow, 8300 in bids is serious, probably those btc that have been acquired during the current BTC rally (at least partially)?

[rpietila]

Because of a flood of people willing to participate, the 1st Global Monero Summit has been scaled UP, please see the current spex here.

[TrueCryptonaire]

OVER 10 K BTC in bids....  I hope the number stays like this.

[coinism]

the situation explained

[explorer]

OVER 10 K BTC in bids....  I hope the number stays like this.

I had to work a few hours this morning.  I came back to note the 10K bid stack.  At first my stomach dropped to the floor.  My sleep deprived brain short circuited it to 1000, as 10000 is outside it's experience.  If this keeps up, I'm going to stop working.  Its a serious drain on my time!

[DaveyJones]

OVER 10 K BTC in bids....  I hope the number stays like this.

I had to work a few hours this morning.  I came back to note the 10K bid stack.  At first my stomach dropped to the floor.  My sleep deprived brain short circuited it to 1000, as 10000 is outside it's experience.  If this keeps up, I'm going to stop working.  Its a serious drain on my time!

I hear you... working is basically doing the things needed to do, and watching the tickers

[explorer]

That loan book  

Collecting 2% while waiting for the pop is... Nice.

Looks like there's a couple hundred thousand in shorts to cover...

[DaveyJones]

That load book 

Collecting 2% while waiting for the pop is... Nice.

Looks like there's a couple hundred thousand in shorts to cover...

The explosion will be heard everywhere, btw look your pms

[owlcatz]

It's like friday night came early on polo.