Hey guys.
I'm curious what devs think about this issue.
Just checked trading volume for 24hours of ONION on coinmarketcap and it's only 14k USD. Most of coins with the similar market cap have much bigger trading volumes. Don't you find this as vulnerability? In current conditions when DeepOnion faces attack in bitcointalk it is very easy for attackers to influence the price.
Also at current conditions limited number of users receive ONIONS (approx 300), and they receive and accumulate more and more coins what makes more danger in future for sudden dump by several actors.
As for me it is crutial for now to do 2 things:
1. Raise trading volumes so ONION will become more resistant against price manipulation and dumpers.
2. Spread distribution to more users, so less people will hold in their hands to many coins that is potential danger of dump before and after 40th airdrop
I'm curious what devs think about this issue.
Just checked trading volume for 24hours of ONION on coinmarketcap and it's only 14k USD. Most of coins with the similar market cap have much bigger trading volumes. Don't you find this as vulnerability? In current conditions when DeepOnion faces attack in bitcointalk it is very easy for attackers to influence the price.
Also at current conditions limited number of users receive ONIONS (approx 300), and they receive and accumulate more and more coins what makes more danger in future for sudden dump by several actors.
As for me it is crutial for now to do 2 things:
1. Raise trading volumes so ONION will become more resistant against price manipulation and dumpers.
2. Spread distribution to more users, so less people will hold in their hands to many coins that is potential danger of dump before and after 40th airdrop
i think deeponion is still in early stage so price vulnerability is not that important yet. as more features are being added to deeponion platform, there will be more people getting interests and more and more people will buy and sell and use this coin. this will naturally result into higher trading volume.
you have a point - distribute the coins to more people. it takes time and good distribution management.
Nice analysis from sabbathhawk, was thinking about this as well. And agree with hardinero007 that CURRENTLY the price vulnerability is not the most important thing. It is normal that with such low daily trading volumes each trade has quite big impact on price. The question is, how to increase the trading volumes in a natural and healthy way? Even if DO is listed on some better exchange, the free float (and trading volume) will be still very low, because at least 90 % of airdrops must be kept in the wallets. From the personal point of view, I am a big fan of the dedicated hodlers, but purely from the economic point of view, we need the dumpers as well. Correct me if I am wrong, but the current free float of DO was created mainly by these unpopular dumpers. Without them, there would be almost no DO to trade.
I understand that some kind of DO protection is important in this phase, but in my opinion it should be treated very carefully in order to avoid negative impacts of "overprotection". Sooner or later, it will be anyway only the free market which will decide about the price of DO and I can imagine that the market (investors and potentially some exchanges as well) would not be happy about cca 300 "whales" with ability of price manipulations. Therefore it is very important for the success of DO to choose the appropriate level of protection for each phase of the project, which is definitely not an easy task for the Dev team.
