Quote from: rpietila on October 06, 2014, 07:43:27 PM

Quote from: freebud on October 06, 2014, 06:03:46 PM

Quote from: rpietila on October 06, 2014, 05:40:28 PM

Quote from: rangedriver on October 06, 2014, 05:30:13 PM

Unlikely to go down now. There would need to be a good reason for it to do so.

The mechanism for going down requires everybody to simultaneously decide that the current level is too high. If there is even one who thinks otherwise, it does not go down.

Going up is much different. A few, even just one, people deciding to buy, make it go up.

I can't believe you really think that..
I perceive most of real XMR supporters as quite intelligent, and you being the executive of MEW should think a bit longer before writing nonsense.

My intention (along with some that the others have already interpreted), has been to elucidate the asymmetry between the impact needed for price going down and price going up.

Currently, to force the price down 10%, one needs to sell 39,000 XMR. About ~9 people have this amount if they sell it all. Needless to say, it is unlikely that the price would go down unless many of them combine to sell large parts of their holdings.

To keep the price from going down 10%, one needs to absorb the 39,000 XMR by selling 100 BTC. There are 10,000 people in the world with 100 BTC, and if fiat holders are taken into account, the number rises to high 100s of millions(!).

Therefore, any 1 out of 100s of millions can keep the price up (or make it go up, which is analoguous), but it takes concerted (in)action of several out of ~9 to make it go down.

ok, this is an interesting argument, quite different from the initial one. Sorry if I was too harsh in my previous comment, I think it's very important that you and other prominent figures in the XMR scene will stay honest and rational.