[XMR] Monero Speculation

[GreekBitcoin]

You couldnt have said it better. I wanted to write something like this a while ago but i got adhd bored. I bookmarked this for future use!



p.s. if someone finds the image offensive please tell me and i will delete it

[andrepd]

As a newbie to XMR, I have a couple questions I was wondering if anyone could give their opinion on.

1. Is there a practical difference between using Polo and HitBTC? I don't plan on being a very high frequency trader; I'm mostly in this for the long run. I just want to make a big initial purchase and then adjust sporadically with buys or sells. Is there for me any benefit in choosing one over the other?

2. What are, in your opinion, the mid/long term prospects for XMR? I agree with TheKoziTwo's opinion on stability, but what are your hunches about what will happen in the coming months, especially when/if the .005 sell wall is broken. Like I said before, I'm trying to minimize risk and so I will be trading low freq, and of course at the same time I will be investing in XMR for a future where I can realistically use it for real-world purposes like I'm using BTC today.

Thanks.

[smoothie]

What I am interested in, is why Poloniex took XMR on? It threw out the second alt, replaced it with XMR, and then suddenly gave it all these extra markets that LTC never got.

I'm pretty sure what happened is they added all the CryptoNote coins, probably not knowing which would be the most successful (and indeed in the early days they all had their high volume pumps), XMR became the most persistently popular and really made it for the exchange (e.g. they made enough from commissions on XMR trading to pay back the losses from the earlier hack). Once that happened they switched from LTC to XMR for the low-value coin markets to capitalize on that volume and try to extend their position as the leading XMR exchange.

This is unprecedented, other exchanges have tried with Doge and Primecoin in addition to LTC, but Poloniex effectively alienated all litecoin owners. I traded a fair bit there, btc or ltc. I no longer visit the site. It's a shame, because they have some nice support agents.

XMR is unprecedented. There is no other alt that has attracted the interest of so many (or even any) old time BTC supporters and BTC whales. There just hasn't been an alt with the same degree of genuine innovation combined with a reasonably fair launch and community leadership.

This is why I have decided to buy XMR and support it.

It is an honest coin with honest developers.

[dEBRUYNE]

As a newbie to XMR, I have a couple questions I was wondering if anyone could give their opinion on.

1. Is there a practical difference between using Polo and HitBTC? I don't plan on being a very high frequency trader; I'm mostly in this for the long run. I just want to make a big initial purchase and then adjust sporadically with buys or sells. Is there for me any benefit in choosing one over the other?

2. What are, in your opinion, the mid/long term prospects for XMR? I agree with TheKoziTwo's opinion on stability, but what are your hunches about what will happen in the coming months, especially when/if the .005 sell wall is broken. Like I said before, I'm trying to minimize risk and so I will be trading low freq, and of course at the same time I will be investing in XMR for a future where I can realistically use it for real-world purposes like I'm using BTC today.

Thanks.

1. Never traded on hitbtc before, so can't say much about that. But looking at both exchanges, if you want to make a big initial purchase I would personally choose for poloniex, because they have more liquidity and volume.

2. I think other members can answer this better, but we have a lot of great things comming up. Like the official GUI wallet, the MEW and I expect that cryptsy and btc38 will add monero also. Would be good for their profit looking at monero's trade volume.

All time weighted average is 0.0042 IIRC, so anywhere between 0.004 and 0.005 would be a good buy I think. Just do your due dilligence first before investing. Doesn't matter if your initial purchase is a bit more expensive (because you do need time to do you DD), but you will be more confident with your investment. Maybe some other members can add a little bit to this?

PS: If you're going to buy a considerable amount, consider joining this: https://bitcointalk.org/index.php?topic=776479.0 (MEW)

[smoothie]

As a newbie to XMR, I have a couple questions I was wondering if anyone could give their opinion on.

1. Is there a practical difference between using Polo and HitBTC? I don't plan on being a very high frequency trader; I'm mostly in this for the long run. I just want to make a big initial purchase and then adjust sporadically with buys or sells. Is there for me any benefit in choosing one over the other?

2. What are, in your opinion, the mid/long term prospects for XMR? I agree with TheKoziTwo's opinion on stability, but what are your hunches about what will happen in the coming months, especially when/if the .005 sell wall is broken. Like I said before, I'm trying to minimize risk and so I will be trading low freq, and of course at the same time I will be investing in XMR for a future where I can realistically use it for real-world purposes like I'm using BTC today.

Thanks.

1. Yes. You should consider the reputation of an exchange before using them. Past exchanges have turned out to be scams and stolen customer funds. Another suggestion is test it with a tiny amount money and see if the entire process of getting the coins you want to buy are in your possession. Worst case scenario you lost your tiny amount of money.

2. This is all speculation. The fundamentals say that if there are infinite amount of fiat currency and limited amount of XMR that XMR will be worth a lot more in the future should people adopt it as medium of exchange. The price in reference to Bitcoin is up in the air as they are both limited in supply.

[andrepd]

Thank you for your input. I was leaning towards HitBTC because they have very competent staff and a brilliant API and web interface. I've used HitBTC to trade BTC and BCN and they have always been great. I may use Poloniex for the initial buy, though, seeing as they have a bit more liquidity than HitBTC.

Oh and when I say big, I don't mean crazy big, I just mean ~3000€. I have been pondering this for a while and I think I will go ahead with it. Thanks for the replies.

[Ultros]

Thank you for your input. I was leaning towards HitBTC because they have very competent staff and a brilliant API and web interface. I've used HitBTC to trade BTC and BCN and they have always been great. I may use Poloniex for the initial buy, though, seeing as they have a bit more liquidity than HitBTC.

Oh and when I say big, I don't mean crazy big, I just mean ~3000€. I have been pondering this for a while and I think I will go ahead with it. Thanks for the replies.

That's not "crazy big" but big enough that you want to operate on a market with decent liquidity such as Poloniex.

[Come-In-Behind]

Thanks for that buy wall tho, gonna be fun dumping into it. I love seeing stupid whales pur up walls and then lose money once DA price keeps going down cus of xms high as shit emission

[rpietila]

Thanks for that buy wall tho, gonna be fun dumping into it. I love seeing stupid whales pur up walls and then lose money once DA price keeps going down cus of xms high as shit emission

If anyone was in the business of selling large amounts, he would have had plenty of opportunities yesterday, today and even as we speak.

I can only conclude that such people do not exist.

Shame. The walls are made by competing MEW members, who want to buy, and no one is selling.

Can I hear the sad sound of an empty XMR wallet willing to buy <0.004?

I think it is conceivable that we see that figure again. But before that happens, I am quite much richer

Let's not be so serious. MEW is gonna be real fun!! 

[smooth]

Thank you for your input. I was leaning towards HitBTC because they have very competent staff and a brilliant API and web interface. I've used HitBTC to trade BTC and BCN and they have always been great. I may use Poloniex for the initial buy, though, seeing as they have a bit more liquidity than HitBTC.

Oh and when I say big, I don't mean crazy big, I just mean ~3000€. I have been pondering this for a while and I think I will go ahead with it. Thanks for the replies.

That's not "crazy big" but big enough that you want to operate on a market with decent liquidity such as Poloniex.

I've not used it but my understanding is that hitbtc has decent liquidity as well.

One thing I dont like about htibtc is that I've been told they don't provide a txid when you make a withdrawal. That makes tracking down missing payments harder.

[Ramones]

Thanks for that buy wall tho, gonna be fun dumping into it. I love seeing stupid whales pur up walls and then lose money once DA price keeps going down cus of xms high as shit emission

If anyone was in the business of selling large amounts, he would have had plenty of opportunities yesterday, today and even as we speak.

I can only conclude that such people do not exist.

Shame. The walls are made by competing MEW members, who want to buy, and no one is selling.

Can I hear the sad sound of an empty XMR wallet willing to buy <0.004?

I think it is conceivable that we see that figure again. But before that happens, I am quite much richer

Let's not be so serious. MEW is gonna be real fun!! 

Sorry for a noob question... What's MEW ?

[wachtwoord]

Thanks for that buy wall tho, gonna be fun dumping into it. I love seeing stupid whales pur up walls and then lose money once DA price keeps going down cus of xms high as shit emission

If anyone was in the business of selling large amounts, he would have had plenty of opportunities yesterday, today and even as we speak.

I can only conclude that such people do not exist.

Shame. The walls are made by competing MEW members, who want to buy, and no one is selling.

Can I hear the sad sound of an empty XMR wallet willing to buy <0.004?

I think it is conceivable that we see that figure again. But before that happens, I am quite much richer

Let's not be so serious. MEW is gonna be real fun!! 

Sorry for a noob question... What's MEW ?

Supernode network for XMR.

[h3speros]

Thanks for that buy wall tho, gonna be fun dumping into it. I love seeing stupid whales pur up walls and then lose money once DA price keeps going down cus of xms high as shit emission

If anyone was in the business of selling large amounts, he would have had plenty of opportunities yesterday, today and even as we speak.

I can only conclude that such people do not exist.

Shame. The walls are made by competing MEW members, who want to buy, and no one is selling.

Can I hear the sad sound of an empty XMR wallet willing to buy <0.004?

I think it is conceivable that we see that figure again. But before that happens, I am quite much richer

Let's not be so serious. MEW is gonna be real fun!!  

That wall is gone =P (pls pump it to 0.005 to show that your the man)

[h3speros]

6h ma20 seems to be important in xmrbtc and 50% fibo at 0.004, both broke down just now, if we get little more volume i predict that we see lower low (after 0.0051 top), highs have been lower too, bear market is not over yet

[nakaone]

I am a long term supporter of xmr - but the market manipulation on poloniex is sick.

or is it human stupidity that the amount of bids is rising when the price is falling and vice versa? or is it bots going full retard?

economically it does not make sense at all

[rpietila]

6h ma20 seems to be important in xmrbtc and 50% fibo at 0.004, both broke down just now, if we get little more volume i predict that we see lower low (after 0.0051 top), highs have been lower too, bear market is not over yet

We should not fight the market. If it wants to go down, there is no one single holder that can prevent it. The MEW group could try to prop up the price but what's the meaning? The group is there to build the economy around monero and not manipulate the price (I don't condemn Warz' heroic effort to defend 400 but fact is it failed - but he got lots of coin at a long term cheap price) I won't take part in concerted price manipulation.

The path of higher lows continues. It's up to the market how low we go. (If we don't go any lower after battling here for a time, and then go up, it is also a bullish sign.) A long-term negative sign would be to break 290 and I don't think that's in the cards..

[rpietila]

I am a long term supporter of xmr - but the market manipulation on poloniex is sick.

or is it human stupidity that the amount of bids is rising when the price is falling and vice versa? or is it bots going full retard?

economically it does not make sense at all

No, this is very normal. If price goes down, there is more interest to buy. Monero holders seem to assume the coin has some intrinsic value. This is of course very good for the coming monero economy.

[nakaone]

the supply is rising if the price is falling and vice versa? - it does not make sense

the supply should be rising when the price is rising and vice versa.

maybe this stuff is traders business but from an economics point of view this does not make sense at all

[rpietila]

the supply is rising if the price is falling and vice versa? - it does not make sense

the supply should be rising when the price is rising and vice versa.

maybe this stuff is traders business but from an economics point of view this does not make sense at all

Only price and volume are true. And they are verifiably true only regarding your own trades.

Buying low and selling high is still the recipe to profits.

[TheKoziTwo]

the supply is rising if the price is falling and vice versa? - it does not make sense

the supply should be rising when the price is rising and vice versa.

maybe this stuff is traders business but from an economics point of view this does not make sense at all

When the price is going up people tend to pull their ask in anticipation of a better price to sell at. When the price is dropping people tend to pull their bids in anticipation of a lower price to buy at. At the same time in a falling market a lot of people wants to sell and places sell walls hoping to get out at a better price, and vice-versa.