The thing that im not understanding properly is,
everybody who bought monero is expecting to make money, but if the price keeps plumetting down, the audience will get tired of it and wont give it the chance it needs.
lets be honest here 8/10 of the people who have monero now bought after 22nd of august.
how would they possibly make money out of it if the price keeps getting downtrended and finding new lows everyday.
the whales are building walls over walls but buy support is not able to hold the price at all.
this downtrend in my opinion is not over yet. unless somehow several btc whales jump in the train and pump the price upwards. however less likely.
the monero dev team also dont seem to care much. i witnessed a conversation between fluffypony and denverthedinozor on polo yesterday. the latter asked when the gui will be available and the former said, monero is open source, thus when the dev feels like it they will work on it and release it. that doesnt seem like its going to happen anytime soon. i believe the foundation made a lot of money in the hype and thus dont really care about the system anymore.
believe it or not, i am not fudding for monero to fall. i am bagholding a very decent amount myself. im still x3 profitable at the moment. however if the situation doesnt change, i will find it useless to hold any at all. ive been holding even after we came from 0.026 to 0.016 without even thinking of selling.
everybody keeps saying : whales are accumulting, whales are buying low, death to shorters. or whatever else they say. however at the current pace of development for monero, shorters are the current winners.
the price was "supposedly" stable at 0.021. then 0.020, then finding new "support" at 0.019. now we are at 0.01629 at time of writing. and the boat keeps finding new holes without being able to cover the previous hole.
i do realise and accept that a coin will not just go up and up and up (that be more likely a scam than real)
however, whales and buyers should find a spot and stay on it, instead of plumetting it down further and eventually resulting in less people being keen to trade, buy, baghold or support it.
before some people comes saying : instead of talking, build a project and put it live yourself. in my defense my team is building a project. we should be able to launch at 25-26th september. however if the price keeps finding new lows, the project will be much useless and we would have lost 30days building something that wont mean anything.
if the foundation dont come foreward stating what they are building and when its scheduled, whats going to happen, how things are going to work.. the system of monero will have another 2years of sleep or more and God knows if it will ever wake up again.
the audience is here, the demand is existant, the need is existant, what do they need more to build things for monero now? what more do they need to make things work? when the hell the 1year old promised gui wallet will be available?
and who are the whales who are bringing the price down even further? ETH foundation? BTC whales scared of parity? we have all seen how assface the eth foundation are and how they tried to bring ETC down by fudding and dumping. could they be the one who are after monero dumps? who knows...
just my 2 cents