Ya not sure what's going on. I haven't seen anything that would warrant people dumping this coin like this. In fact, the only thing that would cause a major dump like this and no volume on bittrex is if either the coin was fatally flawed in some way, or if the dev disappeared. I don't think either of those have happened. So what's happening? I'm wondering if the market's just simply becoming too saturated. A new coin comes out promising anon, or maybe even already has anon established. But that's all it's offering. The problem with that is that there are several other big players that are already far more established than any new anon coin, and they have proven dev teams and an infrastructure's being built. VRC, DRK, and XC come to mind. I don't think it's enough anymore to just be a new coin with anon. You have to be something more now. A previous poster said that if this coin had come out a few months ago it would be a success. That's absolutely right. Because a few months ago, this probably would've had the success of DRK because no other coins at the time were doing it. Even if this coin had come out a few weeks ago it would've been a huge success. That would've been before VRC, XC, and RAZR. Unfortunately, unless the devs of this coin can offer something new, I'm afraid they've been outdone, and have lost the race.
We have to agree even though as a team it does hurt, we have already upgraded the wallet once and planned to do another one soon. The current state of this project however, after such a short time appears we need to completely rework our thoughts and direction. We do appreciate those that supported us through the first week though, and we have paid every bounty we promised, even to a fault it would seem. We are currently holding large bags but this is the nature of crypto, we need to go back to the drawing board. As one member of the team I must say i'm still shocked, low coin count, hard to mine...dual algo with anon I really thought we had a great coin for everyone. Our apologies to everyone, even if we cannot control this market. We will keep everyone updated after discussing internally how best to move forward.
-The Singularity
edit: I have heard the community on irc wishes to do a community takeover after merely a week? If that is true then it is your decision to make and we will take an advisory role. We will not fight with the community over who controls a decentralized currency. We can add out input and just try to help instead.
