[XMR] Monero Speculation

[explorer]

Some of my thoughts on Monero and the current crypto currency boom.

Monero has been in a consolidation phase with respect to Bitcoin since August of 2016. Take a look at the XMR/XBT weekly chart on a log scale https://bitcoinwisdom.com/markets/poloniex/xmrbtc and tell me what you see. The last major move was from 0.0016 XBT in June 2016 to a high of 0.0265 XBT in August 2016 for an increase of over 1600%. If the 0.0265 XBT high is broken on volume another major move upward is possible.

The current @crypto currency boom has seen Bitcoin to fall to under 40% market dominance. To put is bluntly this is indicative that there is something seriously wrong with Bitcoin. My take is that this is related to the fixed 1 MB blocksize limit in Bitcoin together with the consequence of skyrocketing fees and seriously delayed transactions. These are problems for which @Monero has a solution. The market is looking for an alt coin solution and for the time being has focused to a large degree on Ethereum. My take is that while @Ethereum has its uses that may justify its market cap replacing BItcoin is not one of them.. If the market chooses Monero then all bets are off.

The hackers are quietly hacking away. Sooner or later significant improvements will materialize. As to when? Who knows. That is the nature of FLOSS development. A recent example of this is multi sig, which is current being tested and not yet ready for main chain deployment.

My take is that if one is short Monero, the risk of a brutal negative reckoning is very high. As to when and to what extent I have no idea

https://steemit.com/bitcoin/@sayyedraza/xmr-monero-speculation

is there a point to plagiarizing a 7 month old steemit post?

Here is my original BCT post. The Steemit post was also plagiarized:

Some of my thoughts on Monero and the current crypto currency boom.

1) Monero has been in a consolidation phase with respect to Bitcoin since August of 2016. Take a look at the XMR/XBT weekly chart on a log scale https://bitcoinwisdom.com/markets/poloniex/xmrbtc and tell me what you see. The last major move was from 0.0016 XBT in June 2016 to a high of 0.0265 XBT in August 2016 for an increase of over 1600%. If the 0.0265 XBT high is broken on volume another major move upward is possible.
2) The current crypto currency boom has seen Bitcoin to fall to under 40% market dominance. To put is bluntly this is indicative that there is something seriously wrong with Bitcoin. My take is that this is related to the fixed 1 MB blocksize limit in Bitcoin together with the consequence of skyrocketing fees and seriously delayed transactions. These are problems for which Monero has a solution. The market is looking for an alt coin solution and for the time being has focused to a large degree on Ethereum. My take is that while Ethereum has its uses that may justify its market cap replacing BItcoin is not one of them.. If the market chooses Monero then all bets are off.
3) The hackers are quietly hacking away.  Sooner or later significant improvements will materialize. As to when? Who knows. That is the nature of FLOSS development. A recent example of this is multi sig, which is current being tested and not yet ready for main chain deployment.

My take is that if one is short Monero, the risk of a brutal negative reckoning is very high. As to when and to what extent I have no idea.

This is not investment advice. The risk of a complete loss of funds on a Monero position long or short (or more for a leveraged position) is very high. Please do your due diligence and obtain appropriate professional advice before investing or speculating. Disclosure: I have long positions in XMR, XBT and NMC, and I am also involved in the Monero project as a core team member.

I didn't see that one.  I saw this one https://bitcointalk.org/index.php?topic=753252.msg21206724#msg21206724  dated later, but couldn't reconcile any sort of plagiarism with what I know of you, so I ignored it - no need to dig deeper for the purposes of cleaning up the thread

[1714678310]

1714678310

[infofront]

It seems we are not safe yet... 400 bi total marketcap is a support... hope we hold

Never a worry with XMR. Just fill yer boots with as many as you can. We have been here many times before, and those long term hodlers are so used to these cycles we just ride them, i used to get so stressed and depressed when xmr tanked, now i almost find it amusing that its become so predictable.

made me laugh as well that so many put the btc tank down to the Asian exchange news....seems to work everytime still. Bitcoin is a technical beast, fundamentals seem to be orchestrated perfectly to fit its technical trading. Honeybadger dont give a monkeys.

One must experience death and rebirth in order to become an ascended crypto-master.

[cAPSLOCK]

It seems we are not safe yet... 400 bi total marketcap is a support... hope we hold

Never a worry with XMR. Just fill yer boots with as many as you can. We have been here many times before, and those long term hodlers are so used to these cycles we just ride them, i used to get so stressed and depressed when xmr tanked, now i almost find it amusing that its become so predictable.

made me laugh as well that so many put the btc tank down to the Asian exchange news....seems to work everytime still. Bitcoin is a technical beast, fundamentals seem to be orchestrated perfectly to fit its technical trading. Honeybadger dont give a monkeys.

One must experience death and rebirth in order to become an ascended crypto-master.

What happens when you have done this 7 times, master?

[johnfoss]

For those of you not on Reddit and whom may be interested, I posted a write up titled:

Your Guide to Monero, and Why it Has Great Potential.

https://www.reddit.com/r/CryptoCurrency/comments/7ra409/your_guide_to_monero_and_why_it_has_great/

[infofront]

It seems we are not safe yet... 400 bi total marketcap is a support... hope we hold

Never a worry with XMR. Just fill yer boots with as many as you can. We have been here many times before, and those long term hodlers are so used to these cycles we just ride them, i used to get so stressed and depressed when xmr tanked, now i almost find it amusing that its become so predictable.

made me laugh as well that so many put the btc tank down to the Asian exchange news....seems to work everytime still. Bitcoin is a technical beast, fundamentals seem to be orchestrated perfectly to fit its technical trading. Honeybadger dont give a monkeys.

One must experience death and rebirth in order to become an ascended crypto-master.

What happens when you have done this 7 times, master?

You become a hodler. 

[cAPSLOCK]

For those of you not on Reddit and whom may be interested, I posted a write up titled:

Your Guide to Monero, and Why it Has Great Potential.

https://www.reddit.com/r/CryptoCurrency/comments/7ra409/your_guide_to_monero_and_why_it_has_great/

Nice piece there one true John...

[rdp]

For those of you not on Reddit and whom may be interested, I posted a write up titled:

Your Guide to Monero, and Why it Has Great Potential.

https://www.reddit.com/r/CryptoCurrency/comments/7ra409/your_guide_to_monero_and_why_it_has_great/

Great writing! Thanks!

[chanler]

monero is a pretty good coin today. monero coins that are potentially in the future and of course very certainly can give you great results if you want to be invested in the long term.

[jhontwis]

There was a cloud mining company related to XMR. I can check that site and share the situation from here. Monero is a very solid project. If there are small declines, the price is rising steadily.

[joroz]

Here’s what Fluffy had to say at the Bitcoin Conference in Miami today:

https://youtu.be/HTbE8DXyjG8

[iCEBREAKER]

One must experience death and rebirth in order to become an ascended crypto-master.

What happens when you have done this 7 times, master?

One experiences the supreme satori of Brother Satoshi and sits at his side in the Council Of Light.

All illusory notions of separateness, being mere cognitive artifacts, dissipate and the process of Universe, which has no beginning and thus no ending, unfolds in its manifold splendor and recedes at the speed of entanglement as awareness expands to fill the infinite Void beyond Creation.

The screaming of the One Holy Electron is resolved into heavenly music which forms dazzling standing waves as it orbits the primordial Instantaton in all places and at all times.

Then one gets hungry and goes to the kitchen, seeking sustenance of a tasty nature as well as beverages of a frosty, refreshing, and/or adult nature, and remembers to check Coinmarketcap for the latest XMR Moons and Dumps, perhaps pausing to find amusement in the eternal drama of Bitcointalk and the self-righteous wailing of the Bcash subreddit.

At least that is how it works for me.  YMMV.

[fromholland]

For those of you not on Reddit and whom may be interested, I posted a write up titled:

Your Guide to Monero, and Why it Has Great Potential.

https://www.reddit.com/r/CryptoCurrency/comments/7ra409/your_guide_to_monero_and_why_it_has_great/

Thanks for sharing on here.

[Billy Bunter]

New iOS wallet for Monero:

https://www.reddit.com/r/Monero/comments/7ri9v8/our_monero_wallet_called_cakewallet_for_ios_is/

[Nathan047]

New iOS wallet for Monero:
https://www.reddit.com/r/Monero/comments/7ri9v8/our_monero_wallet_called_cakewallet_for_ios_is/

Is there any credibility to this?

[Billy Bunter]

New iOS wallet for Monero:
https://www.reddit.com/r/Monero/comments/7ri9v8/our_monero_wallet_called_cakewallet_for_ios_is/

Is there any credibility to this?

Well it exists - it’s not vaporware. It’s on the Apple store apparently. That said, it’s not yet been open-sourced so people are understandably wary.

[cAPSLOCK]

It this causing the current kerblammo in price?

[Billy Bunter]

It this causing the current kerblammo in price?

Well, kerblammoish, I would say.

As a Monero holder of some tears (that was, originally, a mistype and I was going to change it, but then I thought "how appropriate") I realize that patience is not a simply a nice-to-have but, rather, an absolute requirement. It is a safe assumption that any new features will always take a great deal longer than even the most pessimistic of forecasts. Such is the way of FOSS.

That said, if the emergence of a third-party iOS wallet can raise the price just a little, imagine if/when we have the official light wallets, a Ledger wallet, multisig and bulletproofs. Imagine further that this all might happen by the end of Q1. Imagine.

Patience, everyone.

[tuyulcrot]

We'd like to see that aswell. After RedHack, Anonymous should accept Bitcoin & Monero donations. We put our national currency donations to Monero, too. These prices are good for us in the long term.

[explorer]

Polo buy orders over 1000BTC for the first time in a good while...  What's up?

[Red_Sanford]

Polo buy orders over 1000BTC for the first time in a good while...  What's up?

Not quite sure why the market is so skittish. I was watching the charts last night when a single order pushed up the price of BTC over $500. Some big fish getting in the water