H2. Monero's trade volumes are artificial
Below the chart you may see the trade volumes. When XMR is being traded as usual at 100 BTC volume (standard XMR market behavior), the price gradually declines. The explanation for that is fairly simple (go back to facts #1 and #2). The botnet owners are slowly dumping their coins and drive XMR market down.
Secondly, notice that upward trend coincides with the significant spikes in volume (up to 300 BTC and more). Recheck it with #1 and #3. As the natural demand can in no way match the botnet supply, someone has to step in from time to time to help get it going further. This is most likely the whale buying large XMR sizes out. Alternatively, the XMR trade volume spikes may also be someone on the core team trying to sustain the price.
Implications
That being said, XMR is likely to be mined mostly by the botnets at the rate that is not justified by the demand. Botnet owners dump the coin as it is not showing any stable growth. That's it folks, the 78 BTC of daily trades come simply from the daily emission rate being pushed to the market. No surprise, why the price is generally going down.
Why is that so? CryptoNote has created new ways for the botnet owners to profit. Monero was largely botnet mined from the inception, so the main stakeholders are basically botnet operators. How do you make sure your profits are secure? You need someone buying out those daily volumes. There are two simple ways to ensure that:
1. Artificial PR/hype through purchased hero accounts.
2. Secure yourself a whale.
This has serious implications and may actually link us back to H1 on fake marketing/PR hype. Botnet owners are securing their profits by purchasing accounts and hiring shills. However, everything they do is for just one particular purpose: profit from their botnet mined coin. They make you feel that XMR is largely supported so that you give your money to them.
It's hard to say whether XMR core team is involved. Of course, they would deny any potential connection. However, I wonder why they're not very interested with botnets and fake accounts and pretend that nothing weird is going on.
Another point is that I'm not sure why such a prominent investor and cryptocurrency activist as rpietila supports the coin with such serious issues. I assume that he was somehow tricked into believing that XMR has the future. It might also be the case that core developers are not seeing the whole picture themselces and honestly believe that Monero is actually supported by a large number of people who are willing to buy more and more Monero. However, the reality is that all these people are dead wrong. Monero is being dominated by botnet owners; everything they do with the black PR techniques is to fuel its scam growth. My last thought might be a bit brave, but could rpietila's money be the actual target of this scam scheme?
Don't worry, XMR will be deep mined in half a year. When the emission declines to 20 BTC per day, the botnet interest will disappear naturally. After they choose another victim, the Monero's black PR hype will disappear and the coin will fall down.
If you're not convinced, you may continue giving your USD to botnet owners in exchange of worthless XMR.
Hypothesis 2 is accepted. Monero's trades are artificial.
Below the chart you may see the trade volumes. When XMR is being traded as usual at 100 BTC volume (standard XMR market behavior), the price gradually declines. The explanation for that is fairly simple (go back to facts #1 and #2). The botnet owners are slowly dumping their coins and drive XMR market down.
Secondly, notice that upward trend coincides with the significant spikes in volume (up to 300 BTC and more). Recheck it with #1 and #3. As the natural demand can in no way match the botnet supply, someone has to step in from time to time to help get it going further. This is most likely the whale buying large XMR sizes out. Alternatively, the XMR trade volume spikes may also be someone on the core team trying to sustain the price.
Implications
That being said, XMR is likely to be mined mostly by the botnets at the rate that is not justified by the demand. Botnet owners dump the coin as it is not showing any stable growth. That's it folks, the 78 BTC of daily trades come simply from the daily emission rate being pushed to the market. No surprise, why the price is generally going down.
Why is that so? CryptoNote has created new ways for the botnet owners to profit. Monero was largely botnet mined from the inception, so the main stakeholders are basically botnet operators. How do you make sure your profits are secure? You need someone buying out those daily volumes. There are two simple ways to ensure that:
1. Artificial PR/hype through purchased hero accounts.
2. Secure yourself a whale.
This has serious implications and may actually link us back to H1 on fake marketing/PR hype. Botnet owners are securing their profits by purchasing accounts and hiring shills. However, everything they do is for just one particular purpose: profit from their botnet mined coin. They make you feel that XMR is largely supported so that you give your money to them.
It's hard to say whether XMR core team is involved. Of course, they would deny any potential connection. However, I wonder why they're not very interested with botnets and fake accounts and pretend that nothing weird is going on.
Another point is that I'm not sure why such a prominent investor and cryptocurrency activist as rpietila supports the coin with such serious issues. I assume that he was somehow tricked into believing that XMR has the future. It might also be the case that core developers are not seeing the whole picture themselces and honestly believe that Monero is actually supported by a large number of people who are willing to buy more and more Monero. However, the reality is that all these people are dead wrong. Monero is being dominated by botnet owners; everything they do with the black PR techniques is to fuel its scam growth. My last thought might be a bit brave, but could rpietila's money be the actual target of this scam scheme?
Don't worry, XMR will be deep mined in half a year. When the emission declines to 20 BTC per day, the botnet interest will disappear naturally. After they choose another victim, the Monero's black PR hype will disappear and the coin will fall down.
If you're not convinced, you may continue giving your USD to botnet owners in exchange of worthless XMR.
Hypothesis 2 is accepted. Monero's trades are artificial.
Jeeze it is such a waste of time responding to this when everyone else has already burned you alive so bad that you are saying "monero is a scam, leave it at that." In other words you have run out of bullshit and have resorted to high school grade stubbornness. Regardless, I have had so much coffee this morning that I would actually enjoy getting in on the gang rape which is skullfucking you and the rest of the BCN trolls into oblivion *sips coffee*
Fact 1: You reference monero's emission curve, as if this argument had a shred of validity in supporting your scam accusation. I would not be the first person to argue that a smoothly declining emission curve with high initial block reward will ultimately be better for the distribution of the coin, bw allowing noobs and resources less people a change to ge in while the going is cheap, which if I am not mistaken, is SIGNIFICANTLY BETTER THAN AN 82% PREMINE. The only thing worse than a ninja launch, IPO or bullshit 24 hour POW period, etc. is a huge fucking premine. Let me think of a good example of that...oh yeah, bytefuckingcoin. So if you pull your head out of your cock you will realize you are best off just not bringing up the emission curve because it will remind people of BCN's distribution and that is something you do not wan people to think about
Fact 2: Botnets. Yes, there are botnets mining monero, and if you are so stupid as to assume monero is the only currency subject to botnet mining you are dumber than I though. Even if botnets could create a significant amount of downward price pressure compared absurdly powerful chinese GPU farms, which are not unicorns, that still does little to support your point that monero is a scam. All that means is here are a few people who can mine a bunch of them. There is absolutely nothing about that which is specific to monero. And your point about the trojans, whatever, still, not specific to monero. You are probably just jealous that none wants to mine your piece of shit coin...probably because even if there WERE any volume, none wants to have anything to do with an 82% premise...might as well just say fuck crypto and use USD.
3. Fact 3. Whale activity. Whale activity is something that is absolutely exclusive to monero and absolutely means it is a complete scam which will ultimately lead to the death of a coin and the skullfuckery of all investors.
Oh wait, whales are all over the place all the time. In fact, whales usually only play with coins that are at least remotely interesting. HMMM, guess that isn't a very good reason to believe monero is a scam.
4. Fact 4: natural trend is declining. In fact, the natural trend is INclining. I am not going to waste time teaching you how to read a graph and analyze an overall trend. Maybe your grandmother or sister can help you with that.