We have one main developer who started this thing, he just implemented a new version of KGW (see comment above) He's been working on this for 2+ years, that he would jump ship is silly.
I don't understand it, but those two that hacked the pools and stole rewards from other miners might have been doing that for some time without us realizing it? even so, they may be dumping now. Early miners who haven't been following here, don't care about the coin much, could be dumping what they have, possibly even a bit at a time? I don't know.
As far as the price goes . . if we assume every single one of the coins mined in a day were dumped . . you'd need about 15.6 bitcoins to sustain the price. That's about $9900 to give some better grasp.
Clearly, not everyone is dumping all at once all the time so we can knock that down a little bit to say . . $7000 a day just to hold the price.
This doesn't even account for people who buy the coin and then walk the price down to keep the price low . . which can have an incredible effect if there's not much demand for the coin. Hopefully they don't take it too far.
As far as why anyone would seriously hop into this coin apart from speculation yet, I can't account for . . because I don't see us in many markets besides armory, and DarkSend is still in beta. This leaves us with a very nice 11 algorithm coin with a great future and a dedicated developer. The problem here is that nobody can really do much with any of those three things yet . . like buy things or participate in a dark transaction history. I'd like to say there's more here, and would love to find a way to better contribute . . but it seems like all I can do is make posts and offer opinions.
I'm seeing volumes of about 48 btc on coinmarketcap. What this means to me is that there's about 11 times more coins per day being traded over those created based completely on wild speculation right now. That's still something big.
I'd like to see the speculation move the price upward rather than downward, but it's hard to tell people to hold onto their coins if they've made the decision that they are worth a little less than market value . . . especially right now when IMO we're in a phase where these coins should be traded to people who think they can be worth more some day.
We should be looking more to let the coin grow, rather than the daily price and volume right now. Honestly, i like the lower volume because it matches closer a sustainable growth rate rather than say a 1000 btc volume which can take prices to 10% of the current market price overnight while you sleep.
I agree. I suspect it's just some short termers jumping ship to try to day trade on whatever clone coin is getting 50% swings on any particular day. That's fine - it just puts the coins in the hands of others going long and interested in supporting something innovative.
Only a matter of weeks here until DarkSend is out of beta. Hardly a long time to wait!