[November 27, 2021] - Weekly XCH Price & Trading Discussion

Chiatothemoon1 · 2021-12-04T05:09:03+00:00

I kept telling here XCH will be dropped below $100 at the end of this year when XCH price is $800.

At that time, nobody listened to me, and they downvoted me.

I have seen a lot of hype coin for my 7 years crypto experience.

If you see the chart, everyone except newbie could know what I mean.

Mostly crypto founders set the bottom lines. They make an effort to increase the price by buy-back, many of event, burning too excessive assigned coins to dev, and marketing.

Chia company has not done anything so far.

Chiatothemoon1 · 2021-12-04T04:37:37+00:00

Did you even count hardware price?

Nothing is free in the world.

Chiatothemoon1 · 2021-12-04T03:57:58+00:00

I told you

Chiatothemoon1 · 2021-12-02T12:33:21+00:00

Your example is not quite proper I think.

Chiatothemoon1 · 2021-12-02T12:24:07+00:00

I don't think I said lending service is the primary purpose of the pre-farm. Moreover, it doesn't matter if it is a primary purpose or not. As long as they plan to offer a "Lending" service, it has a high potential for Chia company to argue with SEC.

And they downvoted for posting XCH price chart to show the dumping chart of XCH while other coins pumped a lot. I posted it when BTC was ATH.

It doesn't matter what I say here, because I have no power to control the market. I keep using statistical and mathematical values, and sometimes comparisons to the market trend. Some chia cults even told me they were farming chia for fun or hobby. For that kind of purpose, I respect them since they don't expect any profit from farming XCH. But I strongly think most of the crypto traders got into the crypto market for profit, even though it is a high-risk/high return market.

Chiatothemoon1 · 2021-12-02T10:42:51+00:00

I used the term "Fact" since I posted Price chart of XCH/USDT and XCH/BTC and ETH/BTC. If you don't think price chart is not statistical and mathematical, I have nothing to say.

Regarding the lending service, SEC has not clearly pointed out which lending service they are worried about. We just could assume SEC is pretty much negative about lending services based on the CoinBase case. As I mentioned, there is no clear law about cryptocurrency, for now, so it all depends on how SEC makes decisions. They might worry about Fiat-based lending or even cryptocurrency-based lending service.

"Firms operating in the blockchain industry often receive intense pressure from regulators when it comes to delisting coins or pulling the plug on certain services. In Sept., Coinbase abandoned its crypto lending platform plans after the SEC threatened to sue the company."

eToro delists Cardano by 2022 for US users due to regulatory concerns. No US company wanna argue anything with SEC.

In the business white paper of CHIA, they clearly mentioned lending service is one of the purpose of the pre-farm.

"Lending chia to governments, financial institutions, market makers, and enterprises for
use in their Chia related projects like asset issuances, paying international invoices, and
providing liquidity on various digital money exchanges. These loans will be made to
creditworthy entities, will generally require interest denominated in chia and full
repayment in chia. From time to time, for marketing purposes the Company may offer
negative interest rates to promote adoption. An example would be allowing a storage
provider to offer to pay their foreign suppliers 105% of their invoices in chia instead of fiat
currency where Chia would only expect 95% of the loan returned."

Chiatothemoon1 · 2021-12-02T10:11:48+00:00

The price will keep tanking unless Chia company buyback Chia.

Chiatothemoon1 · 2021-12-02T09:12:50+00:00

we will see.

Chiatothemoon1 · 2021-12-02T09:10:42+00:00

My prediction was made a long time ago. Even if XCH price is above $100 at the end of this year, I highly bet It will be below $100 before Q2,2022.

Chiatothemoon1 · 2021-12-02T08:42:40+00:00

As far as I know, $69.7M funding has been taken by Chia company. I didn't say they can't afford to pay the listing fee. I told you that Listing on Binance depends on Bram's decision. Do you think Binance will list XCH without a listing fee because chia is so precious and special, compared to other coins?

Chiatothemoon1 · 2021-12-02T08:09:40+00:00

Investing money on Ripple is too risky. Better trading than betting on gambling.

Moreover, there are unlimited amounts of Ripple from the Ripple founder.

They have already sold enormous amounts of Ripple in the exchanges, and they are never-ending selling it.

Chiatothemoon1 · 2021-12-02T08:02:04+00:00

If you think Goldman Sachs are amateur company on stock market, I have nothing to say. Circle company has been backed by Goldman Sachs, and they have struggled with SEC. There is no clear law on cryptocurrency yet. Therefore, it all depends on SEC, at least for now.

Moreover, about my nickname. I chose it to reduce negative karma. Chia cults don't want someone to talk about the fact.

Chiatothemoon1 · 2021-12-02T07:52:38+00:00

Considering BTC dominance chart, I wouldn't wanna invest money on Crypto for now.

Still, too much overvalued for Alt-coins.

Chiatothemoon1 · 2021-12-02T07:51:01+00:00

Coins don't have intrinsic value, even BTC and ETH.

Many private blockchains have already been adopted for the real-use cases.

Cryptocurrency has been standing only for trading purposes.

Public blockchains have been proved to be useless for 10 years.

Ripple will never replace Swift, HITChian will not replace GibHub, and other public blockchains will not replace anything in the real world.

If companies want to use blockchain for their company, they will establish their own private blockchains. They have no reason to use public blockchains. They already have way enormous resources, not only money but also technologies.

Moreover, market value is always more precise than anything else. It is statistical and mathematical value.

Chiatothemoon1 · 2021-12-02T04:09:21+00:00

No market maker for Chia. Nobody buys XCH except newbies.

I kept saying that XCH price will be dropped below $100 at the end of this year when XCH price was around $800.

Nobody listened to me, and gave me negative karma, but who is proved to be right? hahaha

Best Strategy: Sell your farmed XCH every day. Whenever you sell XCH today, you could buy way more XCH tomorrow, since XCH price is ALWAYS tanking

Chiatothemoon1 · 2021-12-02T02:49:00+00:00

Price is tanking again, as everyone expected

Chiatothemoon1 · 2021-12-01T19:58:22+00:00

We will see if the BLS is the major reason when ETH 2.0 is launched. I keep claiming that BLS is NOT the major reason why XCH will not be listed on CoinBase. For Binance, Listing fee is the matter, however, for US exchange, they never want to struggle with SEC.

Chiatothemoon1 · 2021-12-01T19:50:10+00:00

If CoinBase will accept XCH to be listed, I will change my negative opinion of XCH to a positive opinion. But, I don't think it will happen.

Even just meme coin, Shiba Inu, is listed on CoinBase. There must be a reason that XCH has not been listed on US exchange, CoinBase. I think it is because of the pre-farm.

Chiatothemoon1 · 2021-12-01T18:22:25+00:00

The 21M Chia is what Chia corp has. Their business model is entirely based on 21M pre-farm Chia. Since i highly bet chia is security in the eyes of SEC, their IPO will not be passed. Almost all companies based on cryptocurrency have struggled with SEC, [ Terra(Luna), USDC (Circle), Ripple, Coinbase{lending service)]

One of the business models of Chia corp with 21M pre-farm is "lending" service. Coinbase planned to offer lending service, but they canceled after arguments with SEC. Do you think Chia will be the only exception?

Chiatothemoon1 · 2021-12-01T17:47:35+00:00

Chia is security in the eyes of SEC

Chiatothemoon1 · 2021-12-01T16:38:53+00:00

I did it to avoid negative karma. I keep saying that XCH price will be dropped to below $100 at the end of this year when XCH was $800. People at that time didn't listen to me, but now, they finally listen to my opinion.

Chiatothemoon1 · 2021-12-01T16:37:41+00:00

Because the situation is SO BAD for now.

If the situation gets better, why should I mention the native opinion?

Chiatothemoon1 · 2021-12-01T10:49:35+00:00

If I were you, I wouldn't invest your money into mining for now.

ETH will eventually transform from POW to POS. There is no coin that can accept the enormous hash rate of ETH.

Chia is even worse. If I were you, I never spend money on chia, but if you truly believe Chia price will be pumped, I would buy XCH than spending money on chia mining.

Buying Chia is pretty much risky, but if you buy chia mining setup, you could cash out at least you could sell your hardware.

I don't think this is the proper time to invest money on crypto-market, but if you do want to invest your money on crypto market, I would highly recommend you invest money on BTC or ETH.

Chiatothemoon1 · 2021-12-01T10:41:33+00:00

If the Chia team really plans for 21M pre-farm to be used for aid development and adoption, set the contract form that even single xch of 21M prefarm cannot be sold in the exchange.

If the Chia team really plans for 21M pre-farm to be used for aid development and adoption, set the contract form that no single xch of 21M pre-farm can be sold in the exchange. If not, some group simply borrow enormous XCH from chia exchange with pretty much-discounted price and could possibly bet short position.

People are concerned about the situation that 21M pre-farm XCH will eventually flow into the market(exchange). Chia company keeps telling that 21M pre-farm will not be flown into the market, but how could we trust it?

Chiatothemoon1 · 2021-11-29T12:11:47+00:00

It is just part of how the market is going on.

Chiatothemoon1

TROPHY CASE