Topic: [DVC]DevCoin - Official Thread - Moderated - page 415. (Read 1058927 times)

Well, I do somewhat regret not buying out yesterday... I was thinking at 45sat or so it was going to be a great deal... but then figured it may go down a bit more first.

This is to be expected with such risk reward situations as these... they don't come very often.

Where do you see someone SOLD 50 million(you're probably referring to the wrong chart btc/dvc, most ppl look at dvc/btc)? 35 million were bought secondary buy wall set up ready to go to war...

Holy crap... I did NOT expect that big of a jump that fast. I'm pleasantly surprised and I'm very glad I didn't do a fear-dump like a lot of people did.

Devcoin will be two years old on August 11th (it started on August 11th 2011). This makes it the third oldest cryptocurrency (only Bitcoin and Namecoin are older).

I think we should do something to mark the occasion because not many coins survive this long! Any suggestions?

[email protected]  I wrote Bitstamp to add DVC as well, as I did and continue to do for btc-e, mtgox. Do the same! lets make some breathing space for our currency!!!

Hehe sorry funny if someone was to read our posts they would laugh at the misunderstanding then..
Ok so its all to do with phsycology I believe. Think about what happens in the trading pits when they were around.. Someone comes in with confidence and buys ok noone notices except a few but then as price comes back to test more orders to buy pop up from this mysterious buyer.. ok so now people want in thinking he or she knows something.. so now people buy above market the mystery shopper buys a bit above to exasberate the rise and imagine someone who had been waiing for low prices now believes the bottom may be in they buy into the rally aswell. When i say starting a pump thats what i mean. Its percieval of future pricing is what drives equilibrium.

So what happena when price fades back down? the smart mystery buyer decides he got a good avg price and wants to avg in some more with half of his intended buying. He sets up another wal above and buys above market each time a sell comes. What does this do? It will bring in hesitant money which thought this pump and dump is unlike any other and its the real deal. This is where the real demand will come from and a sustained pump will allow for dvc to start looking good to those developers looking at potentially some of the biggsr bounties as market cap rises. Its a chicken and egg argument and dvc is very intriguing in this manor as the higher it goes the more successful it will be. I expect that to look like an exponential curve with no pause as people will be greedy at higher and higher potential targets to sell. Kinda what happened with btc as the
hope there was that it was going to dethrone usdx and thats kind of priceless when compared to usdx.

When someone puts up a buy or sell wall they have to follow thru or let others follow thru for them.. Seems like we are still in a large bear market on this currency until i start seeing those things. I suspect it wl be quick and probably because of maybe a new project or breakthrough. At that time you wont be able to buy enough dvc as it will rise quickly without pause.

The general theory behind it is that when you pump, there is a slight permanence attached. For example, you may boost a coin from being worth (arbitrary numbers here for show) 1 up to being worth 10. While it is likely going to drop down again, it may only drop down to 2 this time, meaning that not only is the rest of your fortune worth more, but the future fortune you're still building is worth more as well. In some pumps, the change has been more drastic, such as going from 1 to 10 and settling back down at 5-6. In these cases, the small loss is easily made up for it in the massive gains there will be even over a short period.

And the wall would be where they put in a massive buy order at 15 so no one can sell at a lower price for a while.

It would have to be a coordinated effort among all the people who want to buy.  And all those people have to be willing to buy at a higher price than they might otherwise be able to get.  So they would have to have a very good reason to drive the price up, enough that they'd be willing to buy some at the inflated price.  Maybe they do this in order to then dump at the higher price?  Would that be a pump and dump?  What other reasons might people have to be involved in a pump?

Someone correct me if I'm wrong but based on my understanding, a pump is when people remove their buy orders and buy down a lot of the sell ones. For ex:

Buy orders are at: 5, 6, 7, 8, 9, 10
Sell orders are at: 11, 12, 13, 14, 15

For the pump, those buying at 5-10 take their orders down and buy out all the 11, 12, 13, 14, leaving up 15. Then they re-list at 15, 16, 17, 18. This theoretically boosts the value because now the lowest sell price is much higher than it was before.

Fair enough, at least about the price.  I understand that if I sell DVCs that does contribute to the prices falling.  This isn't a complaint but I do have a difficult time finding ways to use my Devcoins as Devcoins, and that's why I sell them for BTC (or did--the current price is a bit too low for my taste so I'm holding for now).  At this point, there is more to do with BTC.  I'm optimistic that this will change for the better over time, and I'm looking forward to learning more about that, and hopefully being among the first to invest my DVC in some of those new projects.  But in the mean time, I'm not content to just sit on my DVCs.  I do want to do something useful with them--something that will in some way improve my life now (not just in some hypothetical future where DVCs are worth a dollar each and I'm glad I sat on millions of them now), whether that is to cash them out and pay bills or buy some dividend paying stocks.

That thing I never said keeps coming back up LOL.  The quote you are referring to where I contradicted you was wrongly attributed to me.  I actually would like to understand better how walls and pumps work.  You refer to a wall without a pump.  I get what a wall is--a very large order or group of orders to buy or sell at a particular price.  What is a pump?  Is that when someone keeps adding orders to the wall to keep it up?  Like for example, if I put an order to buy 20 million DVC at 65 sat, and then 1 million of them get sold, I then place another order to buy 1 million DVC at 65 sat so as to keep the wall right at 20 million?  Do I understand this correctly?  Or is a pump something else altogether?  If so, then what is it?

Would you be willing to write an article about the science involved in creating interest in rising prices and then send me the link?  I want to learn how that works.  Thanks

Ok.  I can make card templates and creature names.
We can have an artist, storyliner, and some other guys, if you're interested, quote and reply!

You need to understand what moves price. That buy wall created some interest but it quickt fell when ppl realized there was no pump. As days went buy small sells broke into it. Like i said before when price sits on support for a while it will fall like a knife or be a long term bottom. As dvc the true value was lower because noone was willing to buy above market
not at market.

I said it before and wiser contradicted me but there is a science involved in creating interest in rising prices. You have to buy a bit above market a bit below as limits and a bit at market as you support a rise. Walls are only good from a distant price at it invokes fear greed.

DVC supports open source but... where is that value from? People aren't going out and saying "I have $100... I'll go buy some Devcoins so I can support open source stuff." You can give people billions of DVC's but if there is no outside reason to purchase into them, it has no value regardless.

I don't really agree (other projects in the works as you say, and stan's point about anyone's ability to fund anything of value in dvc) - I understood the 'true value' of dvc as supporting open-source work and what they may encompass.

But assuming that's correct, by saying there is no true value outside of converting to btc that implies that - at least as of now - the visible rewarded projects (primarily devtome) have no intrinsic value, because value is underwritten by rewarding or paying for those projects undertaken. And so if that's the case why are writers being paid in dvc when to realise any value they will convert it to btc?

Why there hasn't been more buying pressure is an easy one to answer: there is no true value to DVC outside of converting it to BTC. At least as of now.

A market, while it would help with some of this, would lead to the same general issue: if I want to sell something for $100 each... I have to get the money somewhere. So I sell for DVC, then sell the DVC to get money so I can get more items to sell.

A game would be different, in that you don't necessarily need to keep converting to fiat to keep the ball rolling. For example, take Facebook's credits (or any F2P game for that matter). There are millions of dollars being poured into the fake currencies to be used in the game. This is what we really need -- something that gives the DVC true value without requiring us to keep cycling it straight back to fiat just to sustain the process.

I can’t see why anyone or group with dvc can’t already offer bounties. In fact that seems like a pretty straightforward solution or process for those with ideas or frustrations with particular aspects but without the technical expertise to do it themselves.

Ranlo – I know what you’re referring to. The problem with that perspective in isolation is (1) The price had already been falling for some time (whether just in trend with other cryptos, or dvc specific) (2) that the seller(s) sold into a wall is perhaps better than if they had just sold right down the orderbook. Those with dvc have the right to sell them, even if it’s just to buy them back cheaper via trying to provoke a capitulation, so rather than appealing to justness perhaps it’s better to simply ask why there has been more selling pressure than buying.

Wiser - that's fine, but then people (not referring to anybody in particular, including you) shouldn't complain about the price, lack of incentive to initiate or develop upon other projects at that price, or any resulting dearth of bid interest.

Perhaps the guy who dumped the 20 million is planning to rebuy them all when the price drops to 35 sat...

I agree with Ranlo that we should leave the reward system as is.  That's what we agreed to as writers.  What we do with our earnings is up to us.  Personally, I use my DVC to better my life.  For me, DVC will become more valuable as more options to use them (without having to first trade them) to better my life open up.  People who develop such opportunities are welcome to promote them to me.

Ahhh, so this is normal? I think part of what is causing the dumping (other than the 20m from a single person) is how many people got shares the last round. At almost 1.5k shares across tons of people... those who got a few shares likely throw theirs up for sale because they don't feel it's worth holding since they won't accumulate more. It's possible that once this pay round ends, it will slow down on the selling end.