Its not FUD, it is basically fraud that I am exposing, mega miner hides himself from the richlist and takes extrordinary steps to hide how much yenten he really has while likely buying up all the supply he can. I'm stillmining but I won't be holding yenten during a pump and dump like I believe we are in. Since hashrate is rising I think he will probably try to pull this off sooner rather then later while he still controls the majority of yenten.
It's fraud to hold a coin and mine it and buy it at the same time according to newbies
Hilarious. Take your pills Mr chill. I'd like to see you involved in this coin without the obvious novice hysterics.I've been involved in this coin from the very beginning, I was mining it within the first day it was released and created a profile solely to interact here on this thread. I believe in cpu only coins and this is the very best at the moment and I see myself mining this until I release my own coin however long that may take.
What you all have to understand is that this is the wild west. If this sort of thing had been going on in stocks it would be illegal. I'm glad its not illegal but with great power comes great responsibility so we need us little guys to expose the antics of the big guys so we don't suffer for it.
People asked why would a pump and dump matter? For the hardcore early adopters we would stick around but do we really want to look bad to our friends and more skeptical people if they buy at 10,000 satoshi and loose it all when a big player that we didn't even know existed dumps? It is a morale killer and I am trying to protect us from that.
Slow and steady gains is what we want we don't need the flashiness of a meteoric rise and then a dump that kills all interest in the coin.
I think part of your argument relies on the idea that miners have figured out how to mine it cheaply. People are greedy, and if one person cracked the algo then hashrate would be 8 mh/s by now. Instead, I really believe these big miners are putting at least 250-450 sat of mining costs into obtaining each coin, which means there is simply a huge amount of investment entering the network right now.
If a single person is hoarding coins in multiple wallets... either they dump or they hold. If they dump then cheaper coins for everyone and lower diff, but if they hold until price increases then they are essentially removing that supply from the market for a period of time and so they deserve the profits that they could realize down the road.
As for the volatility, I think you are correct. People could lose lots of money if they are buying at 6,000 sat and it crashed back to 600 sat. But that’s more of an argument for why new adopters should mine, mine, and mine instead of buying on markets, and frankly I’d prefer to see an increase in individual miners over an increase in price.
Do we all want to agree on a community signature or use our own? I’m going to make my own version today and I’ll post the code in case anyone wants it too.
Go ahead and make it and I'm sure we will all adopt it until something cooler comes along
. But ya when anyone controls 1/3 the total supply like the current situation we find ourselves in, just a flick of his finger and it could cause a crash from anywhere the price becomes to 100 sat. The big revelation here is that no one knew that a single person controlled 1/3 of yenten. He hid his tracks pretty decently. #1 on the rich list is just one of many of his wallets.These crashes were very common in the early btc days. It would tank because someone early on had thousands or tens of thousands of coins (like the pizza buyers), then it would all get bought up again. This is why currency supply and emission rate matters. Bonus to this project because it's a curve ball to the miners. I can probably guarantee you the big wallet is the AWS guy. He's been renting AWS super computers to get a bunch of it, and helping others do the same, and telling people to mine it. I've talked to him in chat, he thinks it's the next btc like everyone else here. Likely banking on that being his retirement.
The less currency supply you have, and the more it is public and with buyers, the higher the prices.
