Hit that sell off just right on bittrex! Had about 6 buy orders in the lower 100's
There goes another million off the exchange until the coin get's pegged!!
Nice! The more get of the exchange the better I am doing similar luckily i had a few million in very cheap to balance the first hi buy in
Now it has evened out lovely and the price is rising nice and steady which is what i think is great news we don't want it flying to 200-300+ sat at once then crashing back down. Slow natural growth is awesome to see.
What's the deal with Crave? Why is everyone buying that and not the amazing Bitbay?
We are in what is very similar to a penny stock market. So people only buy into new coins that they will of course quickly sell. Pump and dump groups will make new coins because its easier to promise features than deliver and i think investors buy in because they want to gamble. I wish that investors wouldnt make it so easy for pump and dump groups to sell new coins. Of course they should be investing in coins with real developement behind them but its not the case. Perhaps if the market matures that will change.
This is exactly what the pegging system is going to (try) to solve. Its way too easy to start a new coin and some investors are not thinking about which coins will survive a year from now. Its sad but its true, the majority of the crypto space doesnt care about tech, only money. However, once we give them tools like these markets etc, the hope is eventually people will realize that coins are much more than speculative assets.
This is a good description of the market we are in the penny stock where it is easily manipulated and hyped up to be something great when the majority of the stocks will crash as fast as they was raised.
Again you hit it on the head very easy for them to hype up a coin telling that moon is coming with major awesome development the price rockets and the development never comes
Investors are like you say only in it for a few extra dollars when the 'real' tech' and everyday uses of some gets ignored that is sad and i do hope that changes soon, once they realise it is only about the tech the profit is meaningless to begin unless you are greedy type of person.
How is the pegging going, Is that now in development?
