Post
Topic
Board Speculation (Altcoins)
Re: [XMR] Monero Speculation
by
TrueCryptonaire
on 04/04/2015, 12:43:56 UTC
Think about .004 XMR with 16000 coins mined per day.

 0.004 * 16000 = 64 BTC per day. 23360 BTC per year. It's not all sold, but it's a lot of value created quickly.

There can and will be spikes to .01  and higher but it can't maintain those highs. Even with interest from bitcoin whales with 10,000+ liquid bitcoin. Do you think those bitcoin whales are going to spend all their bitcoin on buying XMR every day so that XMR never ever goes down?

Monero's daily emission is currently well less than 16 000, it is something like 15600 and declining fast.
After 1 year it is signigiciantly lower.
Therefore I think it is possible to keep up the price.
Keep in mind, not only btc whales buy into XMR but people who have fiat... They get Moneros now very affordably (like bitcoin in 2011, only 1 usd per coin).

While some might sell Moneros if btc rallies, I don't think it will be something that lasts for long time.
Usually altcoins (for some strange reason) tent to rally against btc when btc rises agains fiat and vice versa. I don't quite understand why it is like this but the history shows this type of behaviour in altcoins.
Miners, especially those whose mining costs are low, are probably cashing out coins on regular basis no matter what the price is. After all, they are in business and not speculators.
I have fiat and I am buying btc in order to buy xmr every now and then, just to support the price.