Topic: [ANN] Blacknet | IBO for BlackCoin | New code | PoS | No ICO - page 1429. (Read 2510302 times)

I'm speaking long term and making suggestions, thats all. Peercoin itself will need to come up with something to hold it up at some point, it's mere speculation. Alt coins are a competitive arena, if all the people in here holding want to really stand out and make this coin a top dog for the long haul, ideas need to be tossed around. I don't care if somebody runs a peanut shop accepting Black coin, anything helps.

There's no sense in disagreeing that we should build our community and implement new ideas with the coin which in turn generates intrinsic value. This is simple economics.

And no im not one of the guys suggesting there will be a dump and the coin is going to die by saturday lol. I'm interested in holding this coin long term and thinking further along.. not in the sense of the next two days, which I suppose is where the confusion is boiling up on my comment. Call it wishful thinking, I'm just a firm believer in getting out what you put in. If everybody just holds the coin and stares at the graph, we won't reach our potential.

who is the whale? I am!     

+1000

For all other guys, please, i've been hearing about whales dumping since we hit 600 lol

Always invest carefully, if you believe the fundamentals are good, invest and ignore so called 'whale' activity - it is irrelevant. NEVER panic buy, and NEVER panic sell - if you can help it.

Lol at thinking merchant support has anything to do with an alt currencies value in the first year. Rofl.

I question the intelligence of someone who thinks Peercoin's 68 million dollar market cap is being "held up" by merchant support. Here is a clue, 99% of a crypto's value derives from speculators. Hence why Peercoin, NXT coin, Namecoin have high values. You seriously think namecoin is being bought and sold for goods much? Lmao.

Now, looking at Blackcoin's market capitalisation we see it's valued at a mere $900,000 (source - http://coinmarketcap.com/). And remember we have no new coins mined from proof of work for blackcoin anymore, only the coins produced from the tiny 1% proof of stake interest. The nearest similar coin to Blackcoin is Mintcoin valued at $2.2 million. Since Blackcoin is basically a better version of Mintcoin (no premine, transparent community bounties, active development, new ideas eg Blackcoin multipool, good momentum) it's very reasonable to see us more than doubling in price.

But that really is small fry. We should be pushing for 10 million dollar market cap and with the boost from the multipool and the lack of miners dumping their coins I see no reason why not, which would be a 11 times increase in price.

And if we go into dream territory, if this coin becomes the "fair mains NXT", then we could be looking at a 40 times increase in price from now.

At the very least we can expect another double up in price.

I think blackcoin should focus on trying to become the true Crypto store of value. It doesn't need to be a currency necessarily. Blackcoin with its slow 1% interest, could serve as a sort of Crypto bank/savings account. Being a true currency is also a possibility because its inflationary (albeit at a slow rate) but the infinite 1% inflation is another great asset. So while it doesn't have to become a true currency (in my mind) it actually has the potential to.

At this early stage merchant support would be valuable more just for hype and promotion. Fine. TigerDirect is a ways off yet. Most important right now IMHO is in fact branding/PR, and as was mentioned, attracting outside investors. That is entirely doable.

I would also add to get some projects setup over the next week or two to attact investors. The multipool could fund those projects (and faucets) through small mandatory donation like 1%.

But the latter, merchant support is the least of my concern right now. If merchant support was so important, both DGB and NOBL would be trading at ~500+ satoshi right now. Because the hard truth is, if it's not Amazon, Newegg, Tigerdirect, etc. then who really cares? And heck, NOBL even offers Amazon and NE GCs, and it's price is still in the gutter! I think merchant support is not something to jump the gun on and something that should come a lot later down the line. Because if that doesn't work, where is there for the coin to go? BC needs to take this stance : we don't want to want merchants to accept us (unless it's Amazon, NE, TD, etc. ). We want merchants to come to us and be accepted. How are we going to do that? Let's all figure it out!

Agreed but 200BTC is a gross overestimation.

You need that volume otherwise the market stalls and dumpers start to panic competing for sells knocking each other down as we have seen time and time again, let's not forget the ones getting the BC to put on the market for the pool to do the recycle process are the very people who do nothing but dump to turn a daily profit. The majority only care about 3 things, profit, btc and fiat. Those who are faithful and want the coin to succeed aren't enough to keep it afloat at current prices

You'll reach an equilibrium where price will floor to the point that the pool will be able to maintain a certain volume but it will drive the price incredibly low if the pool is the only source creating the volume which will be enough to keep the coin alive but to make the coin flourish it needs greater attraction

We need a wallet to mine at http://www.bcmultipool.com/ right?

Does anyone has a working URL to the Windows client, as the one in the first post of this topic (Mega) isn't working ;\.

Edit: negative, it looks like it's working in Firefox.

I say let's go higher than Bitcoin   

I see what you mean with the buy support, but 200 BTC / day is unrealistically high. You're assuming the majority of the trade volume is a single movement on the coins.. The majority of the trading is quite obvious high/low flipping. I still agree this coin needs WAY more buy support to maintain current price (and the current price is being held by walls keeping it from going higher). We'll just have to wait and see.

And yeah as I've said before. The coin absolutely needs a tangible value if anybody wants to expect a floor instead of a crash.

I would say the consensus here is that we need to
A) Get outside investors on board
B) Assign some kind of value to the coin.. even if its opening a store selling weaved baskets we have to do something

265 BTC is TOTAL trade volume. Not money pumped into coin. I've sold and bought 3 times today at close to min/max worth of about 1.5-2 btc each time. That would translate in 4.5btc trade volume.

And how much of that is back and forth trading using the same coins (both BC and BTC)?

24 Hour Volume:
265.626 BTC

I don't see the market having been bought entirely and that's just mintpals 24 hour volume not including the other exchanges

You seem to miss the point where total coins are 70mil. If this coin was in the billions like MINT current price would be 2 satoshi.

200BTC would mean about 20% of total coins.

To ppl who don't know. He's just trying to lower the price in order to get in.

200 BTC a day? At 200 BTC/day the entire BC market would get bought out entirely in a week at the current 1900 satoshi price.  

Back at the price floors of ~500 and ~800 with little volume, just 1 BTC was enough to move the price up 20%.

No sustaining a price comes from investors not miners, miners never sustain price they just dump and take the BTC

If you guys really think the pool is going to be able to pump out 200 BTC a day to sustain current prices then good luck to you but we should be realistic about this... 200BTC is ALOT to ask for from 1 single source, it's not impossible sure, but consider these factors.

You're going to need alot of miners for 200BTC daily average if we take 0.01Btc per 1mh/day which is the general average every miner tries to strive towards for daily profits, you're going to need 20,000mh in the pool also you're going to need to rely on the coins you've all mined to retain some decent value to turn a profit and the way things are right now that 0.01BTC average looks more like 0.008/9BTC so that's even more miners you're going to need.

I'd say from a realistic point of view BC's value will floor at around 800 to 1k after the initial hype wears off and people get bored and move onto something else unless the coin can offer something with true intrinsic value and purpose other than giving miners BC to convert into BTC or hold for 1% compounded interest

Much deserved, but how high will it get

how long till the multi pool launches?