Quote from: spatula on April 11, 2016, 03:17:09 AM

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Quote from: spatula on April 11, 2016, 02:54:11 AM

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Quote from: vuduchyld on April 11, 2016, 02:06:20 AM

Help me with some personal perspective, here.

To me, it seems a little bit like XMR was the catalyst for this entire bloodbath weekend for alts. XMR took that massive pounding on the huge selloff Friday evening. I could be wrong, but it sure seems to me as though at the time, XMR was the only alt significantly in the red. Most of the rest of the leaderboard on Polo was still green until sometime Saturday, and then the selloff was pretty far and wide Saturday night and Sunday.

Am I imagining this?

Does it mean anything that XMR would be the canary in the coal mine?

I think you got things kind of backwards here. If you had been paying attention to the Bologniex casino at all lately, you'd notice all of a sudden you'd have these days where numerous altcoins were all up 15% with the entire board going green. Now we have the same type of days in reverse with them all going red. It seems like there's some type of big money indicies that can't be bothered to investigate any of these coins and just started hedging in them. Now they seem to be reverse hedging for BTC halving. In the past, you never really saw days like this where all altcoins follow each other no matter how bad or good.

Started during the BTC up move in October and has been more or less that way ever since, with a slight divergence during the period of maximum velocity for ETH (ETH was sucking in capital from other alts regardless of what BTC did). It seems incorrect in this environment to try to analyze the movements of any particular alt without understand the backdrop of the overall BTC/alt trend.

I suspect it is more those alt-coins that differ from Bitcoin in a significant way. Litecoin and Dogecoin have hardly moved this time around. It seems to me that Ethereum was the leader this time around. Monero was the second and was impacted more because of a much smaller capitalization relative to volume.

Edit: It would be interesting to see if Monero decouples in a significant way from Ethereum in this, although at this point I suspect the Monero market capitalization is simply too small for this to happen yet.

What about DASH then? DASH and XMR both went up at pretty much the same rate at the same time during this last run up, but XMR went down and DASH stayed up. What the heck does that mean?

one is a shitcoin, the other isnt.

Well that's not really fair. DASH and XMR are both very real, legitimate coins, despite what either community trolls say about the other. The fact that their chats are always pretty similar seem to show that the market agrees with me. What I don't understand is why XMR would detach from DASH and fall so drastically.

Any (non "scam" or "shitcoin") theories on whats going on?

Everyone wants Monero as cheap as possible, including independent mega-whales. If the hive-mind determines that Monero could fall (in light of a possible BTC rise) then it gives rise to the possibility of acquiring even more Monero.

Thus, carnage ensues.

The same is not true for Dash because there isn't as much confidence in its longevity. No-one is trying to get Dash for cheap prices (for example) because it doesn't project the same amount of enthusiasm.