I got a lot done today and I decided to take a quick break and read the funny comments.
In the other thread I am being painted as "crazy".
In this thread in am being painted as an "inside trader".
If creativity and passion = crazy then I am very crazy.
I did not acquire my BlackCoins by participating in insider trading. I dumped my load of MintCoins and bought BlackCoins.
Unfortunately I am starting to see the same delusional behavior the Mint community exhibited months ago. Lets say I am crazy and I made everything up. Lets say I am "bat shit" crazy.
The dev team announced they hired one of the most well known PR firms with a reputation for representing top technology companies. For the crypto world this is some pretty amazing news, but the price of BlackCoin just briefly shot up and then quickly settled. For a moment I actually thought it was a pump.
Why did it quickly settle? Is someone suppressing the price? Are people just exiting? Has BlackCoin peaked?
By the time the PR firm gets up to speed it will be approximately 60 days from now. 60 days in crypto is a very long time. 60 coins would have been launched by then.
When I was pushing BlackCoin and told everyone we had to hit the ground running and never look back I sincerely meant it. But unfortunately other coins caught up quickly because focus wasn't where it should have been.
As I pointed out to someone in PM earlier today. Crypto is the only industry I know of where unemployed adults with no experience in finance or business are allowed to maintain multi-million dollar projects and no one cares.
Isn't it quite telling? Not only the (always imminent) launch of multipool V2, not only the maybe-may-not-be draw of the Titan and not only the big PR firm hiring... and yet... somehow, no one seems to be buying and every minimal spike is quickly run over with a flood of tens of thousands of coins dumping. I find it quite telling, now that I know The Black Hand is controlling the whole shebang: See, buying up here has already proven to be "dangerous" for "The Black Hand". Above 30, it's rather time to dump instead. It would have looked great for everyone if the announcement of the PR would have lifted the price to 40+, so I am sure some minimal funds were destined to pump that idea but within minutes, whatever the allotment, was quickly drowned, so back to the master plan of orderly dumping because, you know, there's a lot to dump. Millions in fact. And at 800 BTC a day total volume, that is quite a tall order... The Black Hand may be the only organized group with access to inside info, but it is not the only group trading on BC and maybe not the only one dumping on BC.
But, to the sheep, what really counts is that 30 is not broken and will not be broken significantly. Not with the pr announcement, not with the maybe-maybe-not Titan draw, not with V2 of the pool that won't even remotely attract the number of miners and hashing power V1 had at it's peak -it remains at basically 20% that-, so 20% inflows in the market have a much lower impact than 100%, 1/5 to be precise. The "buying pressure" effect, has all but disappeared from that front so the dumping has to be supported by the market. THAT is why 30 is such a tough nut to crack. The cat's out of the hat in crypto world, everyone already knows there's official manipulation in place. More and more people refuses to play a rigged game.