Open Letter
Some people here are very naive and do not understand that without hyping and yes pumping BlackCoin we will still be at 1500 sat with 50BTC or less volume.
Please don't take this personally,
Here's my issue with/question about pumping and this applies to all coins:
What happens when a coin is very quickly hyped/pumped up to a multi-million dollar marketcap, to the point of producing a number of very "wealthy" people, but there is actually not enough fresh capital coming in support these huge bagholders leaving/taking profits? So what happens when one or more bagholders want to turn their "wealth" into wealth, before another one beats them to it? The higher the price goes, the more likely the big bagholders will be tempted to exit and the easier it will be to break the support. I mean, how many people are actually trading blackcoin or any other new altcoin? Are there enough people there to absorb the costs of bagholders leaving at a given price? If not, that is why a drop follows as some of the "whales" race each other to a low.
The actions I took were the right ones and I stand behind them 100%. Trading at the volume we were trading at got us noticed by just the Mintcoin community, no one took us serious. Once we started trading over 3000BTC volume EVERYONE took notice. So yes some people will hold to a certain level and then dump, that will happen if the coin goes up slow or fast. There will always be dumps. We are trading around 30000 sat, last week it was 7000 sat.
We are trading 4x higher than just 7 days ago! We were not going to keep doubling in value indefinitely, at some point people will cash out. However, more people started cashing out because of the behavior displayed in this forum. Announcing the dumps made people lose confidence and sell off before they lost everything. People forgot that we are still at an all time high, they were all paying attention to dozens of posts about dumps.
