I just have to step in and respond to the people saying this is a twitter pump. For those of us who have been here from the POW phase and beyond, it's quite obvious its not.
The coin dipped down as low as 500 satoshi, when it jumped to 1000 "Whales" started tweeting about how it was a pump they were trying to reach 1200 etc. The coin went to 1000, and stayed at 1000.
The same thing repeated yesterday with a jump to 2000, tweets coming out from "whales" about the pump and to sell because the "stable" price is 800 satoshi, once again the floor stayed at 2000.
Yet again it repeats today. It's been flying insane but it seems the floor has been upgraded to 3000. Just because you don't see behemoth buy orders holding it up doesn't mean the support isn't there. People are staring at mintpal 24/7 waiting for opportunities to buy in (including myself). I don't post buy orders and leave them there nor do the majority of traders. You'll notice there have been 2 flash crashes in the past hour or so, and they are almost instantly offset by a barrage of buys recovering the price, that speaks volumes.
These people you are following on twitter are scammers, they tweet these things to gain attention and followers. I went into the IRC to follow one of their "pumps" in which they prepumped a coin, then announced it and dumped their bags on their victims 100% higher. I won't name names.
This coin has 74~ million total, popularity is exploding, 24 hour volume has conquered DOGE, pool seems to be hashing out around 1ghash which just adds another ~5 btc per day in buys. I think the correlating price trend is obvious.
Growing community with the same total coins = increased base price.
I am absolutely uncertain where the coin will top out, but I'm holding out.
Yeah I looked at the "pumpers" and the IRC pump one of them did. Lasted less then 5 minutes and people got taken. Price crashed.
Blackcoin is not that kind of pump. blackcoin is attracting alot of people who are tired of all the drama of typical coins.
blackcoin does not have any claim.
Its a coin with no starting purpose like bitcoin with some obvious improvements.
-fast
-1 % inflation
-no large holders of coins that can dominate the market
-no corporate mining involvement
I see this coin very conservatively priced at 5 million market cap or 7000 sats. At some point BC could challenge Doge and even litecoin, which are 10 and 100 times the 5 million target.