Hm.. bots trading on cryptsy? Between 1-5 MEC every 15-30 seconds. Been going on for hours, all for the same price.
Someone correct me, but I think it's the bigger pools like Multipool/Middlecoin dumping.
You're probably right. I should actually set up my cryptsy with my miner too.. not for selling though, just auto deposit.
Why would you want to deposit MEC into cryptsy? I only withdraw MEC from cryptsy...
Same here. I only use Cryptsy to move MEC that I buy to my wallet. The only place secure enough for my MEC is my wallet, or encrypted wallet on 3 or 4 flash drives, and an optical backup. I predict there will be a lot of sad tales about selling MEC at these rock bottom prices.
I can only figure some people are desperate for money (quite possible in this economy), or a lot of kids that think 3 or 4 Bitcoins is a lot of money.
I've made a few large sales...but only on spikes with the intent to buy back in when things dropped back down (which I did every time.) At this point, I think you'd have to be crazy (or clueless) to sell period -- things are still bouncing around a bit but before you know it things are going straight up and never looking back. Not even worth the risk to sell as far as I'm concerned (even for the chance to make a few points -- it might not happen.)
Assuming this difficulty adjustment is as smooth as it appears, things are going to be rocking. When it gets down to 25 coins/block and the price is creeping past FTC levels, people are going to start kicking themselves. If Zerocoin is implemented as well, and a few more services pop up, we're looking at an insane amount of potential; I don't think a $1 target is unreasonable in that scenario. I think LTC prices are a bit out of reach at this point simply because so many people are heavily invested in LTC and missed the boat (or, I should say,
are missing the boat) on Megacoin. Many of the larger, stubborn investors will hold out to protect their investment in LTC. I think it's important to keep things in perspective...but I say with confidence that Megacoin offers more potential than any other coin at this point (and especially at this price.) You'd have to be pretty desperate for money to still be selling.
Megacoin is already #15 on the crypto market cap list...and it's still recovering from the bump in the road during the last halving (not to mention Megacoin is fairly new, comparatively.) With the difficulty tweak, there isn't a doubt in my mind it will be in the top-10 by the end of the month. Crazy to think I was buying MΣC at 0.000035 BTC just a week ago!