In essence, he s been centralizing CLAM digging big time. One person who can influence the market whatever way he wants.
I don't think so. He had hundreds of thousands of CLAM, and has been steadily selling it on poloniex to whoever wants to buy it. That should have a decentalising effect on the coin. The only problem is that almost everyone who buys from him ends up putting the coins on Just-Dice, and so no decentralisation happens.
Well, again, it all comes down to patience, if you believe in something, all you need to do is wait. But I have to admit, this development does make me restless. I did buy most of my CLAM at 2x this current price and now when I realize one single person can affect the market this much, I start to wonder if my CLAM involvement was a good idea or not.
I think it's always going to be the case that a coin with such a small market cap can be easily pushed around by someone with sufficient wealth. The market cap of CLAM is less than a million dollars, which is tiny in comparison with Bitcoin, say. In CLAM's case things are made worse due to the initial distribution, which gave huge numbers of coins to people with big messy wallets.
Comparing CLAM to BTC is really something I would not dare to do. Maybe one day.
The reason I went into this coin is its high liquidity and market cap, the highest of all PoS coins. This guaranteed ability to buy and sell, consult and exchange opinion and ideas with lots of other smart people which I something I like to do. Some of you I ve been bothering via PMs know this very well.
) Also, this high market cap means there should be lots of related services, like just dice, which should generally provide sustainability of the CLAM economy. SUSTAINABILITY!! I like that word, so rare in crypto world. This was the way I used to think about CLAM.
Then, there is this whale asshole who s decided to implement some kind of vicious plan targeting at either a) destroying CLAM and all other nice things I have already mentioned or b) dump the coin to its lows so he could pump it again and make more money. Either way, I m not happy, not cause of the price or my loss if I would decide to sell now but cause of the lack of sustainability and stability I d hoped I ve found in CLAM.
I know discussing about some form of protection against this kind of whale behavior s futile cause he s not manipulating CLAM PoS or doing anything considered illegal, he s simply doing what he wants with his coins. However, there are tons of other people here and if CLAM turns to be all about him, then why are we all here?