LOL who the hell said i sold my cloaks?
who said that i even owned any? well i do but...
all i'm saying is that when PoSA finally came out, this coin got dumped like i've never seen, now a day after the dev has said that their current implementation does not work, and that they're going to have to start everything from scratch again with a new idea that will hopefully pass the audit (nothing to say that it will)... and that it should take about a month to get a working implementation running again, and then the price goes up?
crypto is fucking retarded. everyone's just trying to play everyone for chumps and no one is actually investing in anything they think is "good".
and for the guys who were saying i was making shit up here's the quote directly from alty/thedagger himself, speaking to the roadmap IF the new idea even passes an audit:
"If the results are a pass we will pursue implementing and marketing our new protocol, which we expect to take approximately a month – it’s a complete overhaul."
so by that logic we should see a 1-month steady rise in price! lol!
Point is, your statement is wrong. Price wasn´t jumping up when bad news came out: When the "bad" news came out, people dumped even harder than before, that´s were your simple logic that ends with an elquent "fuck crypto" is wrong. Only after the exchange rate was ridiculously low, the rate flipped back up. So those who sold in panic lost and those who believed in the value of this coin won (big time).
Btw. you are also wrong with "no one is actually investing in anything they think is "good". " Probably you draw conclusions from yourself, idk, but I bought into Cloak when I became convinced of the concept and I bought in again when the prices were dropping. Now I have a good plus and you know what, I am happy and won´t sell that easy, because I want to see this project succeed.
Beside the people who wanted quick money from the pump, the dump wasn´t logical at all. If I invest in a coin and the developer tells me "We want to do A B C", then after a while the dev comes up with a message "Look, we didn´t manage for now, but we will try again until we manage to do it" - why would I panic sell? It is actually exactly what I expect how to proceed. Every experiment is based on faillures, but some traders don´t care and/or are stupid (OMG, he says something is not working as it should! PANIC!).
When I put money into this project, I knew there were chances that things turn out differently as the product was not there in first place - and I will be there looking forward for the delivery of a trustless POSa and OneMarket - not to dump on that but to spend my money there.