wen will bc hit 50k
Looking like never at this point. Everyday i wake up to a new bottom. thats a steady decline almost this entire week. That is not normal for healthy stocks.
BC will fall until its ready to rise again, and with many community members only worried about price, i suspect we can expect the price to fall alot lower yet.
Assuming that the main market for BC is Mintpal and that Cryptsy BC market just follows it, to surpass 50k (data gathered a few minutes ago) 1,231,581 coins should be buyed and 502.9 BTC should be spent in Mintpal. That's 1.65% of the total of coins.
Also, which made me curious about the figures, (just talking about Mintpal, which drives the rest of BC markets), if instead of that 2,499,962 BC were purchased and 1413 Bitcoins spent, price would surpass 100k.
To reach 1 million shatoshis, 0.01 BTC, 2,692,434 BC should be buyed and 1952 BTC spent,
and to reach the value of 0.9 BTC per BC, 2,696,418 BC (that's 3.61% of total BC coins) should be bought and 2132 BTC spent.
When you buy a little percentage of the total amount of coins, you are creating a little percentage of scarcity that has a huge effect in the marketcap value of the coin, as most of the coins (BC in this case) are being holded and not on sale. One of the greatest features of Blackcoin is it's low inflation value, near to zero; another one is that (almost) all the coins already exist, so you don't have to worry about a price drop due to inflation or a new state of the art mining device that would dump your hard mined/buyed coins down to the ground. And it's scarce (75 millions) which is essential for anything to be able to deposit value in it. BC has great features and one of the greatest/most active community around the cryptocoins world, what this coin and its community, holders, etc. need now is keeping up the good work that have showed until now, patience, follow the right steps (or better said, don't follow the worng steps, like Faircoin lately) and marketing (which has been doing impressivelly good until now), marketing, marketing, marketing, and also marketing.
I'm sure that in the long run (months/years) BC could reach 0.14-0.28 BTC, so I will keep mine.
Sorry for the sermon, just waiting to be rich in a few months/years with BC
