[XMR] Monero Speculation

[smoothie]

Is it still worth to buy xmr?or better invest in eth?

Your best bet may be to seek a financial advisor or pay for some trading courses. I'm sure there are some around here and there.

Getting trading advice on this forum is probably not the best place get it from.

[neilol-real]

Is it still worth to buy xmr?or better invest in eth?

Your best bet may be to seek a financial advisor or pay for some trading courses. I'm sure there are some around here and there.

Getting trading advice on this forum is probably not the best place get it from.

If you're looking to self teach, start here: http://www.investopedia.com/terms/m/modernportfoliotheory.asp

Build a portfolio based on your own analysis of potential outcomes and their probability. Sorry for OT.

[explorer]

I don't know what to think about polo.  800 xmr withdrawal stuck for four and a half days.  I called the FTC and the SEC and got nowhere.  Then I called the Fraud and Consumer Protection unit of the Delaware Attorney General's office.   The number is (302) 577-8600.  I left a message stating that a Delaware corporation may be committing fraud on its customers, and gave the name of the corporation (poloniex) and the name and address of the registered agent in Delaware that Poloniex uses,
VCORP Services LLC
1013 CENTRE ROAD SUITE 403-B
Wilmington DE 19805

Join me filing a complaint.  Or if you have a better idea how to light a fire under polo, I'd like to know.

They've had a 640% increase in trading volume this year.  It's going to be a bit rocky in places.  Competent help is hard to find - it takes some time to smooth the bumps.  It sucks to deal with, but I wouldn't jump on the fraud bandwagon just yet.

[iCEBREAKER]

I don't know what to think about polo.  800 xmr withdrawal stuck for four and a half days.  I called the FTC and the SEC and got nowhere.  Then I called the Fraud and Consumer Protection unit of the Delaware Attorney General's office.   The number is (302) 577-8600.  I left a message stating that a Delaware corporation may be committing fraud on its customers, and gave the name of the corporation (poloniex) and the name and address of the registered agent in Delaware that Poloniex uses,
VCORP Services LLC
1013 CENTRE ROAD SUITE 403-B
Wilmington DE 19805

Join me filing a complaint.  Or if you have a better idea how to light a fire under polo, I'd like to know.

You waited all of 4.5 days before throwing a tantrum and bothering a bunch of clueless .guv bureaucrats about your precious magical internet money?   

Talk about high time preferences; sounds like you gambled more than you could afford to lose.

Keep calm and read this.  https://poloniex.com/press-releases/2017.05.16-Industry-growth-and-its-effect-on-Poloniex/

[quarternions]

Anyone some speculations on Monero?  I am currently a bit at loss on what is happening / what is probably coming up.

Edit: I'm asking because its going down right now and I did not expect that from the patterns and technicals.

[aminorex]

I advise: It is a good idea to buy some Monero, in constant numeraire amounts, on a regular and consistent basis, if you can afford to hold them for years, or if you may need to use them, to keep your financial affairs private.  It is a bad idea to speculate on timing of price moves unless you have special information.  (Note that competing speculators in a speculation forum have an interest in disinforming you.)  That said, we are here specifically to speculate, and some people will offer opinions.  The honesty and the accuracy of those opinions may or may not correlate with each other.

Regarding price, I don't give much weight to speculations about coinbase.  Demand is gradually growing, AFAICT, while supply growth is slowly declining, so prospects seem good, but without a catalyst movement is likely to be weak and take a while.  Meanwhile it can do almost anything since the cap and float is still smallish.

If you anticipate a strong demand for financial privacy in a globally liquid instrument, as I do, you probably want to own as much as you can, up to the limits of your risk tolerance.  You should also keep an eye on mimblewimble.

[Whtwabbit]

http://www.zerohedge.com/news/2017-05-17/its-much-bigger-wannacry-security-experts-warn-new-stealthy-cyber-attack-using-nsa-t

[explorer]

http://www.zerohedge.com/news/2017-05-17/its-much-bigger-wannacry-security-experts-warn-new-stealthy-cyber-attack-using-nsa-t

Also known as XMR, InfoRiskToday notes that the creators of the cryptocurrency claim that it's more private and difficult to trace than bitcoin. Unlike bitcoin, it also has no hardcoded block size limit, meaning that - at least in theory - an infinite amount of monero could be mined.

ADD:

Hash rate has remained quite stable recently.  Botnets are not a new thing, and it doesn't seem that there has been a large expansion of them lately.  Does it?  Oh well, publicity is good.

[2dogs]

https://www.yahoo.com/tech/another-large-scale-cyberattack-underway-experts-194944965.html


Another large-scale, stealthy cyberattack is underway on a scale that could dwarf last week's assault on computers worldwide, a global cybersecurity firm told AFP on Wednesday.

The new attack targets the same vulnerabilities the WannaCry ransomware worm exploited but, rather than freeze files, uses the hundreds of thousands of computers believed to have been infected to mine virtual currency.

Following the detection of the WannaCry attack on Friday, researchers at Proofpoint discovered a new attack linked to WannaCry called Adylkuzz, said Nicolas Godier, a researcher at the computer security firm.

"It uses the hacking tools recently disclosed by the NSA and which have since been fixed by Microsoft in a more stealthy manner and for a different purpose," he said.

Instead of completely disabling an infected computer by encrypting data and seeking a ransom payment, Adylkuzz uses the machines it infects to "mine" in a background task a virtual currency, Monero, and transfer the money created to the authors of the virus.

Virtual currencies such as Monero and Bitcoin use the computers of volunteers to record transactions. They are said to "mine" for the currency and are occasionally rewarded with a piece of it.

[Febo]

Seems suddenly Monero have lots of media exposure. And not crypto or tech or even economy, but general main media. Wonder how that will reflect on price. Might not at all.   Like when most people heard of Bitcoin for first time they did not buy. But for sure it stayed somewhere in our subconscious.

[bobabouey2]

They took on five or ten times as many customers as they could handle.  And that's a thoroughly unsound, irresponsible way to do business.

They took on every customer they could when there was the demand, and then tried to figure it out... something pretty much every startup out there would do as well if given the opportunity.

Along the lines of "Better to beg forgiveness than ask permission."

If you want regulated and safer, stick with coinbase and gemini, which also means sticking with bitcoin, ethereum and litecoin.  And even then, customer service is pretty thin.

[bobabouey2]

So anyone have any perspective on the Bytecoin rally?

[cAPSLOCK]

You know... with there being thousands in BTC volume traded daily.  Millions of dollars a day... there is only really one reason the price is resisting the greater trends in an amazing bull market where even known scam coins are growing orders of magnitude in value.

Someone is selling.

Our bull market is being quietly held down by someone or someones selling.

I believe it's that simple.

https://www.yahoo.com/tech/another-large-scale-cyberattack-underway-experts-194944965.html

Proofpoint said it has detected infected machines that have transferred several thousand dollars worth of Monero to the creators of the virus.

The firm believes Adylkuzz has been on the loose since at least May 2, and perhaps even since April 24, but due to its stealthy nature was not immediately detected.

"We don't know how big it is" but "it's much bigger than WannaCry", Proofpoint's vice president for email products, Robert Holmes, told AFP.

A US official on Tuesday put the number of computers infected by WannaCry at over 300,000.

"We have seen that before -- malwares mining cryptocurrency -- but not this scale," said Holmes.

Emphasis mine.

[jwinterm]

...

Emphasis mine.

There's only about 5400 XMR mined in total each day. Even if malwarists and botnetters were mining every coin that would be maybe like 50 BTC worth dumped per day. I mean, it's not nothing, but it's not much compared to volume across all exchanges.

[cAPSLOCK]

...

Emphasis mine.

There's only about 5400 XMR mined in total each day. Even if malwarists and botnetters were mining every coin that would be maybe like 50 BTC worth dumped per day. I mean, it's not nothing, but it's not much compared to volume across all exchanges.

True...

I find myself struggling to reconcile monero's price action vs the fundamentals.  Especially in light of the amazing shitcoin rally going on all around us.

[tclo]

Yes this is a joke. XMR isn't doing sh*t and every coin around it is rocketing upwards.  I think lack of a mobile wallet and the weak Windows wallet is just hurting it and there are newer, "hotter" coins that are shooting upwards.  But definitely missing out on the party being in XMR right now. 

[aminorex]

Being distracted by fad crypto can only dissipate my focus, and consequently dilute my expectations. What will I be able to keep through the troubles ahead?  What will retain value despite deflation, inflation, repression, taxation, extortion, fraud, bubbles, bail-ins and capital controls?  What is the most perfect money yet devised?  

I would much rather walk away from the quick buck than end up like, e.g. TrueCryptonaire, who will probably never have a fraction of the Monero he could have had simply by holding and waiting.  How many people rue the day they decided to time the Bitcoin market?  Where now, AmericanPegasus?

Let the players play.  Let them have their tulips, their south sea companies, and their postal reply coupons.  Greed caused even Isaac Newton to squander a fortune on such a scheme.  I prefer the calculus of rational expectations and sound fundamental laws.

I tried that road, and did not like where it was taking me. I have not yet seen anyone go that way and come back without looking much uglier, and smelling much worse.

[smoothie]

Yes this is a joke. XMR isn't doing sh*t and every coin around it is rocketing upwards.  I think lack of a mobile wallet and the weak Windows wallet is just hurting it and there are newer, "hotter" coins that are shooting upwards.  But definitely missing out on the party being in XMR right now.  

What will be entertaining is watching all of those rocketing coins around "us" explode when their pumps finish and then gravity kicks in.

These "hotter" coins are going to be just like a hot potato. Don't get caught holding it when the music stops.

Fireworks will be for the patient, popcorn will be free as well.

Stock up.  

[bitwolf]

Yes this is a joke. XMR isn't doing sh*t and every coin around it is rocketing upwards.  I think lack of a mobile wallet and the weak Windows wallet is just hurting it and there are newer, "hotter" coins that are shooting upwards.  But definitely missing out on the party being in XMR right now.  

I am since long time in the cryptovers to see many coins with 10-100x growth for a week and many 10-100x fall for a week. Monero has increased and with a reason 30 times its price in the last year. Monero is now greatly accelerating in terms of popularity and software development. Windows wallet GUI 2 quite good and stable. Mobile wallet coming soon. https://www.reddit.com/r/Monero/comments/64cxrm/looking_for_more_info/ . I know devs are working on instant transaction and multisig too.  Monero popularity on the current BTCC poll for next coin: https://twitter.com/bobbyclee/status/864155469899644928 .  Lots of other exchanges will follow.  I expect 10-50 times growth by the end of the year.

[smooth]

Yes this is a joke. XMR isn't doing sh*t and every coin around it is rocketing upwards.  I think lack of a mobile wallet and the weak Windows wallet is just hurting it and there are newer, "hotter" coins that are shooting upwards.  But definitely missing out on the party being in XMR right now. 

What will be entertaining is watching all of those rocketing coins around "us" explode when their pumps finish and then gravity kicks in.

These "hotter" coins are going to be just like a hot potato. Don't get caught holding it when the music stops.

Fireworks will be for the patient, popcorn will be free as well.

Stock up.   

What would be entertaining would be to dig out some exchanges from this thread from 2014 that were exactly the same. Some hot coin or another was always the new favorite on poloniex, one after another. Most of those coins are now dead and/or delisted.