So increase the price with speculation. Then dump on your investors create panic and buy up the cheap coins. That's what they call Pump and Dump! I know some dreamers in this world but it looks like mankind is doomed! It's now +200% down in a couple of hours so what would you call it?
Actually this is what we think happened. Keep in mind, we're not affiliated with this project:
Before a large volume of trades began, the network had a very low hashrate.
Outside Bots obviously boosted the price because of low availability.
Most of us are almost certain none of the DEVS wanted to flood the network before a transition, this can create headaches on its own, never-mind a wallet upgrade during a massive buying frenzy! They're busy at the moment ensuring the integrity of the block-chain while releasing the new wallet upgrade, they really don't care about the current price or your opinions. We decided to voice ours instead.
Prior to this week; very few people were mining it, and even fewer are willing to sell because they see the potential in this project for its long-term uses.
A large portion of the demand, and thus spike in price for this coin the last few days; was due to a small spike of volume from long-term holders.
This intrigued bots and new investors (like you) who simply pump their money into anything "going up" and then cry when you miss the "dump"
High hashrate miners jumped onto this coin when the prices and difficulty increased and what everyone is buying now is their cheap labor, and "newbie" speculative losses.
