I am also a bit disappointed too this Digispeed thing was meant to be the next big announcement...looks like its nothing to get excited about
This is just the testing, Do you know what Digispeed will do for Digibyte?
Yes I do but the big build up was sort of crushed today its not exactly what we were all expecting TBH with you...I can only see DGB slowly dropping in price over the next few weeks to around 50 sats or lower its been a constant sell sell sell for the last week now.....BUT i guess i will have to remove my buy orders & place them down lower for the dumps that may be pending.
All i am saying is this...Devs if you have some big idea, Announcement or something in the works its best to keep it under wraps until you are in the position to release what ever it may be..I say this because I have been in the very same position with another Altcoin that used the hype factor....it worked for a short space of time & usually by the end of the pump the price of the coin ended up being lower (after the traders ripped it apart) than it was before the hype started.....
Also on the Arbitage problem i mentioned last evening it is a problem but you do not yet see it, As Cryptsy no longer charge fees for trading & 1 sat difference in price for DGB between any exchange will make the trader profit on all buy/sell
Buy it on @ 78 on Bittrex or any other exchange & sell it on Cryptsy for 79...you will make BTC all day long this way & the price will just continue down & down just because one person feels the need to trade it out...so your beloved DGB is being crushed to death for a few sats per trade...& in all honestly there isnt much we can do about it but pray something happens to the price pretty soon
Rant over see you all in a few months
It annoys me that people post comments about development to influence price. Wouldn't it just be easier to post what you want. Maybe not easier. But, certainly it would be more honest. For instance, you could post something like this: "
I purchased some DGB just above 100 - and now I'm down about 30%. But, I want to get my initial investment back, so I'm hoping that some of you other traders will sell until the price goes down. I'd like to buy more DGB and see returns on my trade, but I don't have as much BTC to trade as I would like. Therefore, I cannot get as much DGB as I want to return my profits. But, If the price went down to 50, then I could. So, could all of you traders just sell until it goes to 50 to benefit me?" There is an old phrase in stock trading ... "sell the sizzle not the steak." I suppose if you use news as a day trading strategy, then you will benefit from the advice.
I never thought of DigiSpeed as an effort to raise the short-term price. Thankfully, I have never seen Jared - or any of the development team - make decisions about DGB based on the whims of short term traders. I believe it is a good thing. DigiByte Development seeks to maximize value of the long-term core services rather than the short term trading strategies. Just in the past 24 hours, Jared released important new information relating to DigiSpeed for the next 20 years. You seem to be thinking only a couple weeks or maybe a couple months ahead, so it does not surprise me that you don't understand the benefit of DigiSpeed.
Yesterday, Alaniz explained why arbitrage trades equalize the market price across exchanges. Maybe you didn't read his post. Just FYI, I don't do arbitrage trading across exchanges. But, your claim that the arbitrage trader will keep dumping to make the price keep going down isn't accurate. if people buy on Bittrex for 78 - and sell on Cryptsy for 79 ... then there will be more sell pressure on cryptsy for a short time. The price might decline. But, as soon as the price goes below the price on Bittrex, the situation reverses.
All that being said, the price over the next few weeks doesn't make a difference. For DigiByte; prices go up and down; and, value increases. Eventually, in a good marketplace, prices and value reach equilibrium. DigiSpeed doesn't add new users, or merchants. It adds new value. It provides ability to tailor scalable services to markets like e-commerce, gaming, m-commerce, social media, and other blockchain-based commerce solutions.
