rpietila
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November 08, 2016, 12:34:04 PM |
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It is bordering insanity to buy now. We are right at resistance and the VWAs are coming to meet us from above.
If you are out, a much better bet is buy when the resistance is cleared (let's say 0.012) or we descend to the last week lows (0.0058) or the support (0.0042).
I don't usually consider shorting XMR but this is one of the rare occasions.
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HIM TVA Dragon, AOK-GM, Emperor of the Earth, Creator of the World, King of Crypto Kingdom, Lord of Malla, AOD-GEN, SA-GEN5, Ministry of Plenty (Join NOW!), Professor of Economics and Theology, Ph.D, AM, Chairman, Treasurer, Founder, CEO, 3*MG-2, 82*OHK, NKP, WTF, FFF, etc(x3)
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dEBRUYNE
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November 08, 2016, 01:18:01 PM |
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It is bordering insanity to buy now. We are right at resistance and the VWAs are coming to meet us from above.
If you are out, a much better bet is buy when the resistance is cleared (let's say 0.012) or we descend to the last week lows (0.0058) or the support (0.0042).
I don't usually consider shorting XMR but this is one of the rare occasions.
Shorting when we just broke out of the exponential downtrend of 2 months seems a bit unwise. In addition, the daily MACD flipped to green.
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Bagatell
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November 08, 2016, 01:27:16 PM |
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and the daily pSAR just flipped to bullish
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bobabouey2
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November 08, 2016, 02:07:44 PM |
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Zcash's technical difficulties can be solved over time.
What can't be solved is the 'trusted setup'. A 100% no go if you use the coin for it's fungibility and privacy. Who wants to risk jail time or life based on trusting six people? I rather trust the math and maybe myself to some extend, although external pressure goes a long way. A 5$ wrench comes to mind.
Additionally the 20% cut to the founders of every block found, for four years, can only fixed by forking. Which I would encourage.
I just don't understand the hype, except for traders and speculators trying to earn some extra BTC / XMR / USD.
FWIW, if the trusted setup fails, privacy is apparently not compromised. The "only" problem is that anyone who possesses the toxic waste from the trusted setup could create infinite coins for nothing. And, no-one would know about that supply. Zooko's proposed solution to verifying this has not happened is to force people to periodically move all hidden coins to the public blockchain, or lose those coins.
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bobabouey2
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November 08, 2016, 02:20:26 PM |
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Buy orders back above 3,000 on Poloniex for the first time in a while...
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obit33
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November 08, 2016, 02:21:44 PM |
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Zcash's technical difficulties can be solved over time.
What can't be solved is the 'trusted setup'. A 100% no go if you use the coin for it's fungibility and privacy. Who wants to risk jail time or life based on trusting six people? I rather trust the math and maybe myself to some extend, although external pressure goes a long way. A 5$ wrench comes to mind.
Additionally the 20% cut to the founders of every block found, for four years, can only fixed by forking. Which I would encourage.
I just don't understand the hype, except for traders and speculators trying to earn some extra BTC / XMR / USD.
Zooko's proposed solution to verifying this has not happened is to force people to periodically move all hidden coins to the public blockchain, or lose those coins. you forgot the /s tag, right?
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Dafar
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dafar consulting
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November 08, 2016, 02:26:47 PM |
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Well I'm glad to see Monero up a bit. Maybe people are starting to realize Zcash won't totally kill the market and that Monero is a solid technology?
Maybe it's painfully obvious that if you go back to the same levels BEFORE the pump even started -- 0.06/btc -- a price that was steady when there were NO DNM's using Monero.... it's probably a sign that XMR has been oversold and this is probably a good entry point. RingCT and GUI is still yet to be released, as far as I know. There is plenty of room for growth from here. The market can still be irrational and re-visit 0.06 or even dip down to 0.04 as BTC keeps looking hella bullish. But for long term 0.06-0.08 is solid imo. It also helps that Zcash is turning out to be a disaster... what kind of idiot would support a coin where founders get 20% of all supply lmao. RingCT essentially gives Monero the same features as Zcash I think you are missing a zero just to the right of the decimal. Monero opened this year @ 0.001142 so we are up ~715% since then vs btc and btc is up ~62% vs USD so......hold on I have to take off my shoes. And no the pump started before 0.006, around 0.00420 and there was obvious upwards pressure before the pump. I can say what has happened but as far as what will happen I can say little except............overall up over the long term, unlike almost every coin. I was missing a 0, whoops! Regardless, 0.006 is a good buy for long term. Right now at 0.0086 I'm not sure since we are still in a bear market... sharp rises should be looked at with caution. Lol! Good one I can't stand Dash and their shady smear campaigns
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dEBRUYNE
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November 08, 2016, 02:29:51 PM |
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Zcash's technical difficulties can be solved over time.
What can't be solved is the 'trusted setup'. A 100% no go if you use the coin for it's fungibility and privacy. Who wants to risk jail time or life based on trusting six people? I rather trust the math and maybe myself to some extend, although external pressure goes a long way. A 5$ wrench comes to mind.
Additionally the 20% cut to the founders of every block found, for four years, can only fixed by forking. Which I would encourage.
I just don't understand the hype, except for traders and speculators trying to earn some extra BTC / XMR / USD.
FWIW, if the trusted setup fails, privacy is apparently not compromised. The "only" problem is that anyone who possesses the toxic waste from the trusted setup could create infinite coins for nothing. And, no-one would know about that supply. Zooko's proposed solution to verifying this has not happened is to force people to periodically move all hidden coins to the public blockchain, or lose those coins. It isn't compromised until the exploit is used. However, after the exploit is used the attacker could comprise privacy too. See this article (under "Sybil zk-proof attack") for a more extensive explanation: http://weuse.cash/2016/10/28/the-untrusted-setup/
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dEBRUYNE
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Activity: 2268
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November 08, 2016, 02:30:49 PM |
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Zcash's technical difficulties can be solved over time.
What can't be solved is the 'trusted setup'. A 100% no go if you use the coin for it's fungibility and privacy. Who wants to risk jail time or life based on trusting six people? I rather trust the math and maybe myself to some extend, although external pressure goes a long way. A 5$ wrench comes to mind.
Additionally the 20% cut to the founders of every block found, for four years, can only fixed by forking. Which I would encourage.
I just don't understand the hype, except for traders and speculators trying to earn some extra BTC / XMR / USD.
Zooko's proposed solution to verifying this has not happened is to force people to periodically move all hidden coins to the public blockchain, or lose those coins. you forgot the /s tag, right? No, they are serious about this proposal. See: https://www.youtube.com/watch?v=P6RLjcGVUnw&feature=youtu.be&t=29m00s& http://weuse.cash/2016/10/28/the-untrusted-setup/ (under "Chain rollbacks")
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obit33
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November 08, 2016, 02:41:02 PM |
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Zcash's technical difficulties can be solved over time.
What can't be solved is the 'trusted setup'. A 100% no go if you use the coin for it's fungibility and privacy. Who wants to risk jail time or life based on trusting six people? I rather trust the math and maybe myself to some extend, although external pressure goes a long way. A 5$ wrench comes to mind.
Additionally the 20% cut to the founders of every block found, for four years, can only fixed by forking. Which I would encourage.
I just don't understand the hype, except for traders and speculators trying to earn some extra BTC / XMR / USD.
Zooko's proposed solution to verifying this has not happened is to force people to periodically move all hidden coins to the public blockchain, or lose those coins. you forgot the /s tag, right? No, they are serious about this proposal. See: https://www.youtube.com/watch?v=P6RLjcGVUnw&feature=youtu.be&t=29m00s& http://weuse.cash/2016/10/28/the-untrusted-setup/ (under "Chain rollbacks") What? damn, mindblown here... This is a techno-geek speaking without any understandig of monetary theory/economics...
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CryptoPH
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<3 Crypto
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November 08, 2016, 03:09:38 PM |
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It is bordering insanity to buy now. We are right at resistance and the VWAs are coming to meet us from above.
If you are out, a much better bet is buy when the resistance is cleared (let's say 0.012) or we descend to the last week lows (0.0058) or the support (0.0042).
I don't usually consider shorting XMR but this is one of the rare occasions.
Shorting when we just broke out of the exponential downtrend of 2 months seems a bit unwise. In addition, the daily MACD flipped to green. So we are really in a long-term bullish set-up. That 3-pushes to a high, then revisiting the 1st push confirms continuation of that long-term bullish view. XMR FTW!
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BitcoinNewsMagazine
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November 08, 2016, 03:41:03 PM |
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So we are really in a long-term bullish set-up. That 3-pushes to a high, then revisiting the 1st push confirms continuation of that long-term bullish view. XMR FTW! I doubt that Monero is obeying Elliott Wave theory yet but if true price would not drop below .00772. The bigger problem is the overhead resistance at .01.
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CryptoPH
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<3 Crypto
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November 08, 2016, 03:46:20 PM |
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So we are really in a long-term bullish set-up. That 3-pushes to a high, then revisiting the 1st push confirms continuation of that long-term bullish view. XMR FTW! I doubt that Monero is obeying Elliott Wave theory yet but if true price would not drop below .00772. The bigger problem is the overhead resistance at .01. XMR's chart actually attracted me to invest for long-term. Specially that inverted H & S, then the 3-pushes to a high. IMHO, Monero have enough liquidity to obey EW now.
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bitwolf
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November 08, 2016, 04:10:01 PM |
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Monero always the top traded coin even from one single market and still the corrupt and selfish markets don't adopt it.
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Hueristic
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Doomed to see the future and unable to prevent it
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November 08, 2016, 04:28:51 PM |
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So we are really in a long-term bullish set-up. That 3-pushes to a high, then revisiting the 1st push confirms continuation of that long-term bullish view. XMR FTW! I doubt that Monero is obeying Elliott Wave theory yet but if true price would not drop below .00772. The bigger problem is the overhead resistance at .01. XMR's chart actually attracted me to invest for long-term. Specially that inverted H & S, then the 3-pushes to a high. IMHO, Monero have enough liquidity to obey EW now. Wrong, it's just manipulated at a much higher level now.
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“Bad men need nothing more to compass their ends, than that good men should look on and do nothing.”
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CryptoPH
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<3 Crypto
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November 08, 2016, 04:37:32 PM |
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So we are really in a long-term bullish set-up. That 3-pushes to a high, then revisiting the 1st push confirms continuation of that long-term bullish view. XMR FTW! I doubt that Monero is obeying Elliott Wave theory yet but if true price would not drop below .00772. The bigger problem is the overhead resistance at .01. XMR's chart actually attracted me to invest for long-term. Specially that inverted H & S, then the 3-pushes to a high. IMHO, Monero have enough liquidity to obey EW now. Wrong, it's just manipulated at a much higher level now. Seriously? Then somehow the manipulator follows EW and applying basic patterns on the chart.
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BitcoinNewsMagazine
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November 08, 2016, 05:15:17 PM Last edit: November 08, 2016, 07:36:50 PM by BitcoinNewsMagazine |
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In reference to @CryptoPH posts yes three impulse waves up is a common trading pattern, usually followed by two corrective waves down. Even if the wave structure does not fit the strict EW criteria, buying at the top of the third impulse up, especially if close to resistance, is usually not the best idea. Instead consider waiting for a two step correction down to buy. If Monero is following this pattern now on the one hour chart price should decline to .008 soon perhaps today. I would not buy there though for reasons below. As long as I have been following Bitcoin and Monero the most useful TA tools to help give me an edge on entries and exits are Fibonacci retracements and extensions which definitely work very well with Monero. The 200 moving average on daily and weekly charts is another. Also at present looking at the weekly chart 0.01 is stong overhead resistance because the previous ATH of June 2014 is reinforced by a Fibonacci 23.6% retracement level at .0107: With the strong overhead resistance at .01 it is hard to justify going long now. Risk vs reward is not good. If price were to decline to .004 now that would present a buying opportunity.
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Hueristic
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Doomed to see the future and unable to prevent it
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November 08, 2016, 05:17:21 PM |
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So we are really in a long-term bullish set-up. That 3-pushes to a high, then revisiting the 1st push confirms continuation of that long-term bullish view. XMR FTW! I doubt that Monero is obeying Elliott Wave theory yet but if true price would not drop below .00772. The bigger problem is the overhead resistance at .01. XMR's chart actually attracted me to invest for long-term. Specially that inverted H & S, then the 3-pushes to a high. IMHO, Monero have enough liquidity to obey EW now. Wrong, it's just manipulated at a much higher level now. Seriously? Then somehow the manipulator follows EW and applying basic patterns on the chart. Pretty good smoke screen to follow, isn't it. It's been seen before. Not hard to do if you know what your doing and the market wants to react that way anyway. just wait for a large indicator and smack those riding it. It's not rocket science.
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“Bad men need nothing more to compass their ends, than that good men should look on and do nothing.”
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rpietila
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November 08, 2016, 05:51:14 PM |
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I'd skip this one.
I am a follower of Monero since May 2014.
It has a slim chance of breaking 0.01 now, and even if it does, it'll get stuck (and you lose nothing by waiting).
If/when the breakout proves to be false, the price is easily halved => so much more coins for the prudent ones.
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HIM TVA Dragon, AOK-GM, Emperor of the Earth, Creator of the World, King of Crypto Kingdom, Lord of Malla, AOD-GEN, SA-GEN5, Ministry of Plenty (Join NOW!), Professor of Economics and Theology, Ph.D, AM, Chairman, Treasurer, Founder, CEO, 3*MG-2, 82*OHK, NKP, WTF, FFF, etc(x3)
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smoothie
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LEALANA Bitcoin Grim Reaper
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November 08, 2016, 08:22:10 PM |
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this is a good way to look at monero measured in oz of silver
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| . ★☆ WWW.LEALANA.COM My PGP fingerprint is A764D833. History of Monero development Visualization ★☆ . LEALANA BITCOIN GRIM REAPER SILVER COINS. |
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