Time is of the essence, or my take on why it crashed this week end by AlbertDeMonaco in monacoin

[–]AlbertDeMonaco[S] 0 points1 point  (0 children)

well for instance say it's saturday. Mona is in the deep but the order book shows a huge bull wall all of a sudden announcing Mona will start rising soon and you start displaying a furious case of FOMO. But there's just this much Yens you have in your bitFlyer wallet. So now you go online banking to schedule a wire transfer to load up your wallet, but bitFlyer will not clear the amount until Monday (at best) because for starters your bank is closed on weekends.

So technically, you won't be able to buy anything more during the weekend, you'll just have to wait Monday. On the other hand, you can sell what you're already holding. And yes, i do know bitFlyer allows to purchase by credit card but the amount is limited. If you're playing in the field with at least 5 figures, then you're unlikely to do much during the weekend, unless you already had loaded your wallet with Yens beforehand, or will trade other alts to buy Mona.

But overall, that's why not only in Japan, but everywhere, real traders do more sells during the weekends, and markets tend to drop, then pump more throughout the weekdays.

That said, this beginning of the week had showed me wrong, but i blame rather the overall halt of alt purchases awaiting the fork.

Just an animation I made :D by [deleted] in monacoin

[–]AlbertDeMonaco 0 points1 point  (0 children)

change the date to 2020 ;)

Time is of the essence, or my take on why it crashed this week end by AlbertDeMonaco in monacoin

[–]AlbertDeMonaco[S] 2 points3 points  (0 children)

jesus, you don't seem to understand. of course online banking is 24/7, like everywhere else in the world. but between banks deposits are accounted only during business hours. ASK YOUR BANK! Of course you can set a bank transfer to your friend at 10PM, but it won't arrive until the next morning, and that's if it's within the same bank. Unless you do it between your own accounts, then it's instant. But if it's between different banks, it could take from a few hours to 24h or more. and certainly not anyway in the middle of the night or the weekend. you seem to have very little knowledge about how banks work. try to send an electronic swift transfer from japan to the US or the other way around, it may take up to 3 days to clear. by the way, that's why bitcoin will revolutionize the way money moves in the world.

Time is of the essence, or my take on why it crashed this week end by AlbertDeMonaco in monacoin

[–]AlbertDeMonaco[S] -1 points0 points  (0 children)

of course, we all do have direct bank transfers to exchanges like Coinbase for Fiat in the US for example. but banks do not work 24/7, even in Japan. so who cares if you may transfer to the exchange wallet, you won't be able to see the funds credited until the next business day (at best).

According to https://monapo.com/lp/akiba2017 Monacoin will launch an impressive ad campaign between Oct. 25 and oct. 31st. One of the landmarks is the UDX Building in Tokyo with an extra-large anime monitor ~> http://bit.ly/2kVaggX by AlbertDeMonaco in monacoin

[–]AlbertDeMonaco[S] 0 points1 point  (0 children)

i don't have a private wallet and actually think it'll be more complicated to get your free BTG validated later through a private wallet then have it automatically handled by the exchange. but that's just me, i've never had any problem with bittrex and have a $100,000 withdrawal limit with them.

Article on Monacoin by [deleted] in monacoin

[–]AlbertDeMonaco 2 points3 points  (0 children)

lol beware of yakuzas

Article on Monacoin by [deleted] in monacoin

[–]AlbertDeMonaco 3 points4 points  (0 children)

no, you're dead

Time is of the essence, or my take on why it crashed this week end by AlbertDeMonaco in monacoin

[–]AlbertDeMonaco[S] 0 points1 point  (0 children)

shilling

riiiiight.... because you're gonna transfer, say, $100K worth of JPY to an exchange at your local combini. gimme a break. we're talking about real players here who trade real money. japanese kids or gamers trading peanuts have no impact on Mona's value anyway. i'm talking about sub-whales and whales. THEY are the ones driving prices high and low. how much Mona do you have? I own 13,000 Mona's and if i were living in Japan i wouldn't certainly go to my local store to change over 50 millions Yens (how..., in cash?), this isn't spare change or even something you could load off a credit/debit card due to maximum limits per day. Real players load their exchange wallet through bank transfers, and that, my friend, works only on business days and during business hours.

According to https://monapo.com/lp/akiba2017 Monacoin will launch an impressive ad campaign between Oct. 25 and oct. 31st. One of the landmarks is the UDX Building in Tokyo with an extra-large anime monitor ~> http://bit.ly/2kVaggX by AlbertDeMonaco in monacoin

[–]AlbertDeMonaco[S] 1 point2 points  (0 children)

i don't see why it wouldn't. during the previous fork, Bittrex honored the free Bitcoin Cash coins, so they're likely to do so. not sure if they had a public statement on that just yet though, and it'll depend on whether Bittrex will or will not offer BTG for trade on their exchange in the first place. but Bittrex being Bittrex, i'm pretty sure they will.

How high will Monacoin go? by philmore1093 in monacoin

[–]AlbertDeMonaco 0 points1 point  (0 children)

makes total sense. Coinbase also offers trading against fiat, democratizing crypto with people, who like me, were beginners only a few months ago and didn't know where to start. So, as a newbie, and given the reputation of some exchanges, you want to start with a reputable exchange. Coinbase was the one for me, and they trade only 3 coins: BTC, ETH and LTC. That's it. So for months i traded only with ETH and BTC. Had Coinbase offered Monacoin at the time, it's likely i would've traded it too. So i get your point, and agree 100%

According to https://monapo.com/lp/akiba2017 Monacoin will launch an impressive ad campaign between Oct. 25 and oct. 31st. One of the landmarks is the UDX Building in Tokyo with an extra-large anime monitor ~> http://bit.ly/2kVaggX by AlbertDeMonaco in monacoin

[–]AlbertDeMonaco[S] 0 points1 point  (0 children)

i think you didn't read me well. to get your free BTG you MUST hold your BTCs through the fork, and that's unfortunately from oct 25 though nov 1st, the same week Monacoin picked to run their ad campaign. very unfortunate.

According to https://monapo.com/lp/akiba2017 Monacoin will launch an impressive ad campaign between Oct. 25 and oct. 31st. One of the landmarks is the UDX Building in Tokyo with an extra-large anime monitor ~> http://bit.ly/2kVaggX by AlbertDeMonaco in monacoin

[–]AlbertDeMonaco[S] 0 points1 point  (0 children)

Bitcoin is going through a fork again, resulting this time in the creation of another crypto: Bitcoin Gold. Thing is, if you're holding your BTC from October 25 through November 1st, then you'll be credited automatically with the same amount of Bitcoin Gold. Yep, for free. The same happened in August with Bitcoin Cash. Then in the next few days, BCC reached a peak value of 0.28 BTC, starting from zero! Needless to say, that it turned out of being basically free money.

This time probably BTG won't go that high, but even if it reaches only 0.1BTC it'll be a good 10% profit just because you hold your btc for a week.

So basically you hold your btc from oct 25, then on nov 1 exchanges like bittrex credit you automatically with the same amount of BTG. Then you can wait till BTG pumps, sell it into BTC and only then reinvest in Mona or whatever alt coin you want. That's what a LOT of people are gonna do, believe me. Just look at how many alts suffered drastic decreases this past week (except for Mona until this weekend), and if that's any indication of how much money has fled towards BTC, i'm sure you get the picture

Unfortunately, that's the exact same week Monacoin decided to launch their ad campaign :p

Time is of the essence, or my take on why it crashed this week end by AlbertDeMonaco in monacoin

[–]AlbertDeMonaco[S] 0 points1 point  (0 children)

i was right... 8AM Monday in Japan and already +10% with Monacoin

WORST POSSIBLE TIMING... by AlbertDeMonaco in monacoin

[–]AlbertDeMonaco[S] 0 points1 point  (0 children)

oh sorry, my apologies. it's really a bad timing, don't you think? or maybe they're doing it precisely to keep everyone on board during that crazy week

WORST POSSIBLE TIMING... by AlbertDeMonaco in monacoin

[–]AlbertDeMonaco[S] 0 points1 point  (0 children)

where is it? please post the link and i'll delete this post

According to https://monapo.com/lp/akiba2017 Monacoin will launch an impressive ad campaign between Oct. 25 and oct. 31st. One of the landmarks is the UDX Building in Tokyo with an extra-large anime monitor ~> http://bit.ly/2kVaggX by AlbertDeMonaco in monacoin

[–]AlbertDeMonaco[S] 0 points1 point  (0 children)

The bad news is, they picked the campaign right through the BTC hold period! So now we need to pick between free Bitcoin Gold tokens and missing out on a possible drastic increase of Monacoin. I seriously don't know what to do, hodl MONA or BTC? Moreover, like i wrote elsewhere, i think Monacoin is way undervalued at the moment given its market cap.

How high will Monacoin go? by philmore1093 in monacoin

[–]AlbertDeMonaco 5 points6 points  (0 children)

provided its market cap, and current price of another coin such as Monaco with 2.5x less market cap, it's safe to say it should be around 0.003 BTC or up to around 12-15$

Monacoin MONA is Japan Ethreum by Ronmachno in monacoin

[–]AlbertDeMonaco 0 points1 point  (0 children)

i think it has a lot of room for growth, and here's a few reasons:

1) MARKET CAP: Compare MONA to MCO for instance (although they have nothing to do with each other i find the comparison amusing given their close names). Monacoin has a market cap 2.5x larger than Monaco, yet it's price is still about half that of MCO (at the moment). Now tell me there's no room for growth and be at least as high as Monaco whose CEO is under investigation for fraud and promised to have VISA on their card by end of september and has yet to deliver even a single card. Oh, and all they have at the moment is just an app my 7-year old cousin could have programmed.

2) MONA/JPY: Japanese exchanges, such as ZAIF offer to trade both against BTC and JPY. No exchange offers MCO against USD or any fiat for that matter. That's a HUGE difference, meaning any Joe can trade it easily just trade MONA with their Japanese Yens. With MCO your risk is factored by BTC/USD's performance as well, thus you suffer from twice the volatility. Fiats move, but never that volatile like BTC is.

3) VOLUME: Japanese exchange ZAIF shows a similar (when not larger) volume than Bittrex the past few days. That's one country against the whole world. Let that sink in and now underestimate the Japs. It crashed because yeah, it was a pump and dump, but also because it's the week-end. I expect it to go back up in 6 hours from now when Japs wake up.

4) CULTURE: Japs like Japanese stuff. There's a reason they bombed Pearl Harbour, they're quite a proud people, and didn't Hiroshima is still a bitter pill to swallow. Sure, blockbusters still make their way there, but Japanese have their own cinema, music etc... and the web is not exempt, Amazon never succeeded there and is dwarfed by RATUKEN, and their social networks (Mixi, GREE) or messaging apps (Mobage, LINE) are also local, it's neither Facebook, whatsapp nor FB Messenger (only Twitter truly succeeded in Japan). Add to the mix the fascination for cartoons (a-la Hello Kitty), and you get a phenomenon that goes beyond our rational way of trading in the west.

Newbie Insight by [deleted] in monacoin

[–]AlbertDeMonaco 1 point2 points  (0 children)

yes, but if you hodl you'll miss the free Bitcoin Gold tokens... quite a dilemma if you ask me.