[XMR] Monero Speculation

[mfqrs3]

The real question is, how profitable is for bag holders ( devs ) to dump the coin that low and scare away investors and buyers/sellers ?

The price is currently recovering from its loss and I think there might be some correction if a dump is actually going to be done...
A coin is not just for bagholders, but yeah, the darknet guys are now into getting their money in their fiat which is why it is obvious that they would sell XMR for Bitcoins...

Dumping almost 100k in one instance is not from some seller/buyer but from a bagholder, at least I see that way.

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[nioc]

The real question is, how profitable is for bag holders ( devs ) to dump the coin that low and scare away investors and buyers/sellers ?

The price is currently recovering from its loss and I think there might be some correction if a dump is actually going to be done...
A coin is not just for bagholders, but yeah, the darknet guys are now into getting their money in their fiat which is why it is obvious that they would sell XMR for Bitcoins...

Dumping almost 100k in one instance is not from some seller/buyer but from a bagholder, at least I see that way.

Well there was accumulation the last few days and then the day hype coin is released it's competitor gets dumped on in the span of a few minutes.  Maybe, maybe not.  But as you seem to imply it doesn't make much sense for a bagholder to dump here.

I have no idea why you equate the bagholders as devs.  Neither TC nor I are devs, I'm just the janitor, and it seems that most bagholders are not devs. 

I did buy at the bottom of the dump.

As far as DNM guys selling their XMR, it seems that would already have happened some time ago.

IAAJ  s. nioc

[mfqrs3]

@nioc

Why would I think that bagholders are devs ? Maybe because of this ?
https://bitcointalk.org/index.php?topic=1233817.0

And buying(accumulating) coins to dump them at a loss makes no sense. Also Lending page didn't move at that dump.

[nioc]

I see this will go nowhere so I'll only say this;

devs = bagholders; why not

bagholders = devs; they can't all be devs


s. nioc,  janitor - Monero World Headquarters

[sidhujag]

Gettin close to first target

[BitcoinNewsMagazine]

After the 2013 bubble bitcoin did not start to recover until the weekly 200 MA was tested for nine months.

[phoenix rises]

After the 2013 bubble bitcoin did not start to recover until the weekly 200 MA was tested for nine months.

Context : BTC was > 6 years old at that time. How did it look for previous BTC bubbles with the weekly 200MA, when BTC was same age as XMR ?
Please explain why you would look at the weekly 200MA for an asset the age of XMR. Either I don't understand (very possible) or it is a pretty irrelevant comparison unless.
I think I am going to need some charts to understand your point please.

[TrueCryptonaire]

Risto's statement of not having good news ahead might imply that indeed the GUI will not be released...

I have my bids in the market and they are set up in the manner that they will taken when Monero is beaten from live in a brutal manner.

[ol92]

@nioc

Why would I think that bagholders are devs ? Maybe because of this ?
https://bitcointalk.org/index.php?topic=1233817.0

And buying(accumulating) coins to dump them at a loss makes no sense. Also Lending page didn't move at that dump.

The two people mentionned in the first post are not really dev (but are /were proeminent members of various monero team).

The current dumping is due to the zcash hype (people buying zcash now for holding will suffer: the current price is due to very low current supply : mining reward is very low the first weeks to prevent instant mining, but will increase sharply after. Nevertheless, due to the rich investors behind zcash, this anonymous will keep high trading volume and keep some relatively high price).

[sparky999]

Don't see how 0.007 doesn't get tested this weekend if that busts then 0.006 seems a certainty. I'd like to think it couldn't go lower than that though. This zcash hype is going to keep rolling and a rising bitcoin is a double whammy short term. Even a GUI release now wouldn't make much of a ripple imo.

[starmman]

Don't see how 0.007 doesn't get tested this weekend if that busts then 0.006 seems a certainty. I'd like to think it couldn't go lower than that though. This zcash hype is going to keep rolling and a rising bitcoin is a double whammy short term. Even a GUI release now wouldn't make much of a ripple imo.

I agree with you there, I have some buy orders set at both levels though, the market conditions and trend suggest to me like there will be a little more to drop before any future bullish period.

[coinfanman]

With seemingly no interest in getting the official GUI ready, zero marketing and some actually discouraging newbies to buy
Monero - what else than going down can be expected? No matter how much of a centralized shitcoin ZEC is, it is now all over the place and everybody in crypto will surely know about it.

No matter now good the technology in XMR is, nobody knows about it and it is too difficult to use for average user, fall is what happens.

No point to argue these issues, this is the comment I get from people I have been discussing Monero with.

And to reply any nonsense in advance, I have been in XMR since mid 2015, been promoting and tweeting and giving funds for development.
Coding I can not do unfortunately.

[ozkraut]

Don't see how 0.007 doesn't get tested this weekend if that busts then 0.006 seems a certainty. I'd like to think it couldn't go lower than that though. This zcash hype is going to keep rolling and a rising bitcoin is a double whammy short term. Even a GUI release now wouldn't make much of a ripple imo.

Actually the Zcash launch couldnt have gone any better for Monero imo. The hype, the ridiculous price. I cant find words for that kind of stupid greedy frenzy.
This will be the most hated coin in a few weeks.
People are losing btc hand over fist right now, waiting for zcash to be back at 700 or 500 btc even! Its absolute carnage. Medication review alone will not suffice!

 All those btc 'liberated' will flow back into the now bargain basement top alts in a hurry. Its a huge shakeout of the weak hands and possible extinction of the plain silly. This will cement Moneros place as no 1 privacy & financial sovereignity solution.

And that without the distinct possibility of technical issues with zcash at any time. Anybody want to be in that if it needs to fork?

[dEBRUYNE]

Some USD support in this area:



Also the 78.2% Fibonacci level is at ~ 0.007.

[sparky999]

There were some bigger buys coming in when we just dropped to 0.00715 but it doesn't seem like enough to me to reverse the trend. I'm sad to say it looks like some sticky-ness just north of 0.007 for the next few hours before another drop back to test 0.006. I do see some secenarios where 0.006 bursts and we flash drop to 0.004x before a quick rebound back to 0.006.

Going to stick a few bids in and see what happens.

[jehst]

If bitcoin breaks the ATH, the slingshot will happen. The slingshot, for those who haven't been following my posts, is where bitcoin goes up, leaving altcoins behind. But then altcoins rip upwards as everything in crypto becomes hot.

This is where you fight your instincts and keep your XMR despite XMR going down against BTC. There is a good chance that we see XMR reach a billion+ dollar market cap in 2017.

Bitcoin rips upwards to $4,000 - $8,000. XMR hits .025 or .05

Yes, that means $100-$400 XMR. But very few people will be mentally *able* to hold.

[gkv9]

If bitcoin breaks the ATH, the slingshot will happen. The slingshot, for those who haven't been following my posts, is where bitcoin goes up, leaving altcoins behind. But then altcoins rip upwards as everything in crypto becomes hot.

This is where you fight your instincts and keep your XMR despite XMR going down against BTC. There is a good chance that we see XMR reach a billion+ dollar market cap in 2017.

Bitcoin rips upwards to $4,000 - $8,000. XMR hits .025 or .05

Yes, that means $100-$400 XMR. But very few people will be mentally *able* to hold.

I believe that the value you are suggesting for Bitcoins is currently "out of reach" and will only be possible in a P&D scene, else there are no buyers or moves that are suggesting that the price would spike that hard... It will take a lot of time, we are to see a new ATH though that's for sure...
XMR is holding at BTC0.007 currently and I am seeing a reverse pattern currently being carried away against everyone's expectations, so we need something huge either as news or anything which could drive away XMR back to better prices...

[ozkraut]

If bitcoin breaks the ATH, the slingshot will happen. The slingshot, for those who haven't been following my posts, is where bitcoin goes up, leaving altcoins behind. But then altcoins rip upwards as everything in crypto becomes hot.

This is where you fight your instincts and keep your XMR despite XMR going down against BTC. There is a good chance that we see XMR reach a billion+ dollar market cap in 2017.

Bitcoin rips upwards to $4,000 - $8,000. XMR hits .025 or .05

Yes, that means $100-$400 XMR. But very few people will be mentally *able* to hold.

I believe that the value you are suggesting for Bitcoins is currently "out of reach" and will only be possible in a P&D scene, else there are no buyers or moves that are suggesting that the price would spike that hard... It will take a lot of time, we are to see a new ATH though that's for sure...
XMR is holding at BTC0.007 currently and I am seeing a reverse pattern currently being carried away against everyone's expectations, so we need something huge either as news or anything which could drive away XMR back to better prices...

I find that if I fear it dropping more I sell a few only and am all of a sudden happy and looking forward to getting more back if it continues to drop. Quite funny psychologically. Only a hand full like 30 or so.

[jehst]

I believe that the value you are suggesting for Bitcoins is currently "out of reach" and will only be possible in a P&D scene

$4,000/BTC means a market cap of <70 billion USD. It's peanuts. It's basically a failure scenario. It means bitcoin was unable to surpass Australia and unable to become a medium of international exchange despite the extremely low quality of the competition (banks/paypal/western union/etc.) and unable to become a store of value despite having superior qualities to gold and other stores of value.

I'm not sure what kind of future you think bitcoin has, but in my model, I am giving bitcoin a 5-10% chance of becoming a Top 10 currency with a base money supply worth trillions of USD and more than 200 million users taken mostly from the wealthiest 10% of the world's population. This is going to mean that one bitcoin will be worth $X00,000 each. And you can guess what the strongest altcoins like XMR will be worth in that scenario.

[sparky999]

Survived the first attack on 0.007 but it's going to have to hold at least once or twice more today - my guess is it won't be able to and we will move to 0.0065 for a while before testing 0.006 in about 4-6 hours from now