[XMR] Monero Speculation

[Febo]

Block 1 (2014-04-18 10:49:53 UTC)

[phishead]

Wooo what a run recently

Hope everyone has been well… if anyone would like to participate in Monero birthday festivities on Twitter I have a (sorta) give away going on there. Donate .001 to general development, post your tx hash and enter to win!

https://twitter.com/spesmonerujo/status/1516136136397275145?s=21&t=ZqmFcgTzb9TPQGFq-C4GOg

[Hueristic]

Monero rose as much as 14%, while Bitcoin, the largest cryptocurrency by market value, dropped 4% and Ether fell 5%. Other altcoins tumbled even more, with Ethereum Classic and EOS down more than 8%.

https://www.bloomberg.com/news/articles/2022-04-18/altcoin-monero-surges-as-owners-set-withdrawal-from-exchanges?utm_medium=social&cmpid%3D=socialflow-twitter-markets&utm_source=twitter&utm_content=markets&utm_campaign=socialflow-organic

[infofront]

XMR has broken out of the 4+ year downtrend...

[Hueristic]

XMR has broken out of the 4+ year downtrend...
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And its about fucking time!

[cAPSLOCK]

XMR has broken out of the 4+ year downtrend...

Ya beat me to it.

Kinda cool that we also topped out right at that last high.  And I think the next zone is in the .008 range.



I would say one more thing.  The narrative is strong right now as well.  The sort of "proof of keys" type movement going right now seems to have some actual legs.  People have finally realized that the insane leveraged interests in Monero are almost certainly heavily influenced by Monero's killer property.  You can't see the Binance wallet. 

Along with the world waking up to the looming specter of digital privacy disappearing at an alarming rate.

We *could* be on the front end of a perfect storm gentlemen, though I am a permabull and will be saying the same things even if we drop 80% lol.

https://www.bloomberg.com/news/articles/2022-04-18/altcoin-monero-surges-as-owners-set-withdrawal-from-exchanges

[tokeweed]

^  We ain't seen nothing yet as far as narratives go imho.  Give it a little more time, when XMR claws its way back to top 10 at CMC the 'narrative' would be if Monero's privacy make XMR a better store of value and a better medium of exchange.  Just watch the news...  I know some of it would be clickbait but most of it would be the truth.  I mean would a billionaire want to hold his money in BTC and be on a list somewhere for everyone to see?  :/  I don't think so...  He would like to park his money somewhere more private.

Just a couple or so Bitcoin halvings more...

[phishead]

^^ On top of all the narrative talk, has Monero ever trended on twitter?  I don't think we have, and could you imagine the sort of interest that could follow?  Doesn't seem too hard for random cryptos now and days to 'trend' if they start acting real bullish.  I think then you will start seeing a lot more people diving in to the whole #monerun narrative.   

Let's not forget Jack Dorsey follows Monero advocate @Sethforprivacy.

[cAPSLOCK]

Will this organic groundswell continue?  It looks like it could!

[phishead]

Just out of curiosity, is there any way we could have 'Chartbuddy' that the Wall Observer thread has?  Or would that be considered spam?  Think it would be an interesting addition to this thread over time.

Bitfinex

Explanation

Explanation
Chartbuddy provides a chart which shows the change of the market depth with time.

Chart shows the market depth for the last hour, the beginning of the hour at the back, latest time at the front. The bids (what people are willing to pay) stack up on the left and the asks (what people are wanting to get paid) stack up on the right.

A depth chart indicates how much it would conceivably take to shift the price. Note that orders can be cancelled so judgement should be applied. Large orders produce a large vertical part on the chart or a "wall". By watching how walls are added, moved or removed, it is possible to make a judgement of market sentiment (or arguably just observe attempts at market manipulation).

The large numbers at the top are the latest values for the closest bids and asks. The difference between these is the "spread".

World times are also listed for several major cities.

Will this organic groundswell continue?  It looks like it could!

Looks like it

[johnfoss]

THE MONERO MOON (ISSUE 39) IS OUT NOW!

Bumper issue for you guys this week.

Hopefully it provides insight into how much Monero has grown!

https://www.themoneromoon.com/p/the-monero-moon-issue-39

[tokeweed]

^ ^  It's starting imho.  All it takes is a little bit more of critical thinking and for the people in the Bitcoin community to start asking questions.  The most obvious one being why are there still lots of DNM users still continuing to use BTC?  They should drop it as BTC isn't really built for keeping your wallets' blockchain info safe from the prying eyes of TPTB.  Even their most prized use case of the store of value narrative isn't really that strong without Monero's features.

And it is sad that the WO has gotten so out of hand.

I'm trying to remember when it wasn't.

I've got nothing.

I blame cAPSLOCK and Heuristic

Just curious...  What happened?

[cAPSLOCK]

^ ^  It's starting imho.  All it takes is a little bit more of critical thinking and for the people in the Bitcoin community to start asking questions.  The most obvious one being why are there still lots of DNM users still continuing to use BTC?  They should drop it as BTC isn't really built for keeping your wallets' blockchain info safe from the prying eyes of TPTB.  Even their most prized use case of the store of value narrative isn't really that strong without Monero's features.

And it is sad that the WO has gotten so out of hand.

I'm trying to remember when it wasn't.

I've got nothing.

I blame cAPSLOCK and Heuristic

Just curious...  What happened?

Well I won't speak for smooth whose beef might be different.  But we had a combination of an influx of noisy noobs, which cause some of the longer time folks to bristle a little as they fish for merits.  Also some folks getting mad about doom-y TA from said noobs.

But also there have been a few accounts, and one in particular that just went off the deep end acting like absolute assholes. Personally I was a bit offended when after letting the board know I had just tested positive for covid this asshole started going on about how stupid we are to believe it was real more or less.  I don;t have very much bandwidth for people who cannot have a little nuance.  I am actually in the camp that thinks we severely over-reacted to covid, and that the vaccines were at best duds.  But I have compassion for folks going through it.  I know people who have died from it, and anyway... yeah mainly one asshole.

As to the maxis being maxis.  That does not bother me all that much.  Again, I prefer nuance but tolerate maxis on both the Bitcoin and Monero side.  While I think I have made it clear I see a world in which both flourish.  So I have never minded those sorts of views expressed here, or there.

One thing I agree strongly on is Monero's privacy is about to make the same kind of lightbulb go off to a LARGE wave of people as it did for so many of us.  The Guns'n'Bitcoin folks... McCormack, et al.  There are a LOT of reasonable Bitcoinners, even maxis starting to admit the fact that Monero does something that not only can Bitcoin NOT do, but that it probably never should.  I think we see privacy improve on layer 2.  But we are nowhere near there yet.  And the short squeeze coming for Monero might be crazy-go-nuts.

[Hueristic]

^ ^  It's starting imho.  All it takes is a little bit more of critical thinking and for the people in the Bitcoin community to start asking questions.  The most obvious one being why are there still lots of DNM users still continuing to use BTC?  They should drop it as BTC isn't really built for keeping your wallets' blockchain info safe from the prying eyes of TPTB.  Even their most prized use case of the store of value narrative isn't really that strong without Monero's features.

And it is sad that the WO has gotten so out of hand.

I'm trying to remember when it wasn't.

I've got nothing.

I blame cAPSLOCK and Heuristic

Just curious...  What happened?

[cAPSLOCK]

Back on topic though.  That is a damn sexy daily candle... wonder how many more of these we have in there. 

[johnfoss]

I wrote about this on Twitter and in the latest issue of the Monero Moon, but thought it is such a prominent chart I'd share it here.

After 4 years of Monero down-trending against Bitcoin, XMR has finally broken out upwards, and is looking like it will close the month out above resistance.

This is a rare and unprecedented event for any cryptocurrency to break out from such a long downtrend on the BTC pair, and as far as I’m aware has never happened before.

The last time XMR broke out of a long-term (22 month) downtrend against BTC was Feb 2016, before rallying 2600% against Bitcoin.

[Hueristic]

I wrote about this on Twitter and in the latest issue of the Monero Moon, but thought it is such a prominent chart I'd share it here.

After 4 years of Monero down-trending against Bitcoin, XMR has finally broken out upwards, and is looking like it will close the month out above resistance.

This is a rare and unprecedented event for any cryptocurrency to break out from such a long downtrend on the BTC pair, and as far as I’m aware has never happened before.

The last time XMR broke out of a long-term (22 month) downtrend against BTC was Feb 2016, before rallying 2600% against Bitcoin.

XMR has broken out of the 4+ year downtrend...

Appreciate it but infofront beat you to it earlier this page.


BTW, really enjoyed the Moon this week.

[cAPSLOCK]

I wrote about this on Twitter and in the latest issue of the Monero Moon, but thought it is such a prominent chart I'd share it here.

After 4 years of Monero down-trending against Bitcoin, XMR has finally broken out upwards, and is looking like it will close the month out above resistance.

This is a rare and unprecedented event for any cryptocurrency to break out from such a long downtrend on the BTC pair, and as far as I’m aware has never happened before.

The last time XMR broke out of a long-term (22 month) downtrend against BTC was Feb 2016, before rallying 2600% against Bitcoin.

I remember how downcast so many were even 4 years ago... 

After the 2017 bull, and brief altseason we have all been crushed so badly.  It is understandable that many lost hope.  After all, most alts are absolute garbage.  Most have deserved the 90+% losses, and the ones that have remained closer to the top have NOT deserved to be there.  The only caveat is their demise might bring some pain to all the alts... even the ... well fuck it. I honestly think there is only one that deserves attention.

That said 290-330 is the last stand of the shitcoin levels.  If it can take all that?  Well.  It's just open skies above that, I think.  And I do not think it has to stay under it's XMR/BTC ath either.  I see it having a good chance of attacking as far as .09 BTC if not the whole .1

[Hueristic]

I remember how downcast so many were even 4 years ago... 

After the 2017 bull, and brief altseason we have all been crushed so badly.  It is understandable that many lost hope.  After all, most alts are absolute garbage.  Most have deserved the 90+% losses, and the ones that have remained closer to the top have NOT deserved to be there.  The only caveat is their demise might bring some pain to all the alts... even the ... well fuck it. I honestly think there is only one that deserves attention.

That said 290-330 is the last stand of the shitcoin levels.  If it can take all that?  Well.  It's just open skies above that, I think.  And I do not think it has to stay under it's XMR/BTC ath either.  I see it having a good chance of attacking as far as .09 BTC if not the whole .1

Historically .0082 should be the next major hurdle.

[phishead]

I remember how downcast so many were even 4 years ago...  

After the 2017 bull, and brief altseason we have all been crushed so badly.  It is understandable that many lost hope.  After all, most alts are absolute garbage.  Most have deserved the 90+% losses, and the ones that have remained closer to the top have NOT deserved to be there.  The only caveat is their demise might bring some pain to all the alts... even the ... well fuck it. I honestly think there is only one that deserves attention.

That said 290-330 is the last stand of the shitcoin levels.  If it can take all that?  Well.  It's just open skies above that, I think.  And I do not think it has to stay under it's XMR/BTC ath either.  I see it having a good chance of attacking as far as .09 BTC if not the whole .1

Historically .0082 should be the next major hurdle.

I’ve always thought about it this way. With what Monero does there is no reason for Monero to be worth less than 1% of Bitcoins worth. These prices haven’t made sense for a long time, so all the hurdles we see below 0.01 is arbitrary.

But also there have been a few accounts, and one in particular that just went off the deep end acting like absolute assholes. Personally I was a bit offended when after letting the board know I had just tested positive for covid this asshole started going on about how stupid we are to believe it was real more or less.  I don;t have very much bandwidth for people who cannot have a little nuance.  I am actually in the camp that thinks we severely over-reacted to covid, and that the vaccines were at best duds.  But I have compassion for folks going through it.  I know people who have died from it, and anyway... yeah mainly one asshole.

To have your belief, whether right or wrong, make you act like a dick to another human for believing something else is just dumb. People are entitled to their own beliefs. Sorry, those people sound like the worst lol.