It is nice to see this coin in the move again. But the problem is a lot of people try to keep this price as low as possible for profit. It is easy to see how much profits were made:
- Bought at 1 sat, sell at 2 or 3 sats (200-300% profit).
- Bought at 2 sat, sell at 3 or 4 sats (150-200% profit).
- Bought at 3 sat, sell at 4 or 5 sats (133-167% profit).
With this pattern it is easy to see why the 3 sats sell order wall was put back every time.
IMHO, for this coin to make a move to 10 sats range, it needs a lot of things to be happen like alcurex announcement or block rewards drop to 20k. Right now this coin is one of the most profitable coin to mine, and some big miners just dump at 2 or 3 sat because it is for them still the best option now.
Regards,
After watching the trades... There's a small whale sitting on the buys and sells... selling @3, with a buy @2. As more people buy in, he may allow the price to swing up when he can still keep it in his control. After that, the cards fall. If the mining can pick up more though, it will change. This is looking exactly like the buy/sell wall that FTC had i previously ranted on. Anyone want to bet 1 MRC on the results?
That is simply not possible due to the size of the walls. Orders are filled I the order they are received. If there are 10 BTC of buy orders at 2 and you place an order to buy at two.... You are last to fill.
Your theory doesn't work. If it did it would be very easy to game the system.
I agree with what you are saying exactly, but not the result.
As a whale, I put in a sell order of 10BTC worth at 3, and a buy at 2 worth 10BTC. As people buy and sell, i make my profit. Now add in others... Total there's 11 BTC Selling at 3, and 11 buying at 2. If its the same person who put in the 1 BTC, over time they will join in the game too. If the 1 BTC on each is comprised of many different people, could argue i'm the only one winning. I agree, its first come first served, but if you are the bulk of the volume of standing orders, it becomes moot. in that example, 92% of the volume is passing through my hands, and I profit. When you sell yours at 2, i'm turning around and selling it for 3. Now the price could go up as people see the volume, and the price goes up, but as long as the volume doesn't kick up enough, the whale is able to create profit. By the price being so low, from 2 to 3, thats super easy to do. No one can come in at 2.1, or 2.9 and start to mess with the plan. If the price does get higher, and the gap wider... the whale will only allow the gap to grow wide enough so that if you tried to buy and sell from a different exchange the fees would eat away at the profit.
*** Its going to be a little tough to read through some of the random chatter, here's the FTC forum thread discussing when their happened. Its amazing some of the chatter is the same as on here.
https://forum.feathercoin.com/index.php?/topic/6276-feathercoin-on-the-rise/page-2