Scrypt: | 20.54 Mh/s
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Activity: 278
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The same "constant dumping" has been happening to TRUSTcoin. The dumping process does not use sell orders, but instead sells directly to buy orders to lower the price. Here's stafur's post from TRUSTcoin thread:
I can try to take a stab at it, but defer to the dev to please chime and correct me if I misspeak. Here's my understanding of what happened:
1. There was a market-bot running on bittrex which was pushing down the value of the coin.
2. To find out what address was behind the bot the dev requested some addy's from the community.
3. Using those addys the dev was then able to construct a tree that led to 5 possible culprit addresses that the bot was running off of.
4. Since the bot is now offline and the addresses and their derivative coins have been identified, bittrex is now good and there is no longer a threat to the coins on bittrex.
5. Price is low thanks to that bot, and others now have an opportunity to invest on the coin at PoW prices and can now take advantage of the PoS.
And, here's mitchellmint's explanation, Trustcoin's dev: BitTrex cannot lock an account for this sort of market manipulation. I talked with a representative from BitTrex to discuss my options, which were nearly none.
We caught someone buying high and selling low. We started to profit from it, tweeted to help others profit, and then the market went silent, the bot was turned off. We also notice enormous Sell Walls that were not there before. We asked the community to follow a plan.
The premine is PoSing safely in a Vault 2.18 Million
We took a pause to see who was causing the price drop. Now that it is identified I can only say... MOVING on.
By the way, you can find "the two digits buy and sell orders" on both KTK and TRUST on Bittrex, usually the first buy and sell order: https://www.bittrex.com/Market/Index?MarketName=BTC-KTKhttps://www.bittrex.com/Market/Index?MarketName=BTC-TRUSTInteresting observation. But I just cannot understand why would someone buy high and sell low, and what is the benefit of such manipulation... I don't know the reason too. That's why I called it "the strange dumping". Logic goes out the door with traders. 
legendary
Activity: 1148
Merit: 1000
I ❤ www.LuckyB.it!
full member
Activity: 182
Merit: 100
KryptKoin is one of the best!!!
The same "constant dumping" has been happening to TRUSTcoin. The dumping process does not use sell orders, but instead sells directly to buy orders to lower the price. Here's stafur's post from TRUSTcoin thread:
I can try to take a stab at it, but defer to the dev to please chime and correct me if I misspeak. Here's my understanding of what happened:
1. There was a market-bot running on bittrex which was pushing down the value of the coin.
2. To find out what address was behind the bot the dev requested some addy's from the community.
3. Using those addys the dev was then able to construct a tree that led to 5 possible culprit addresses that the bot was running off of.
4. Since the bot is now offline and the addresses and their derivative coins have been identified, bittrex is now good and there is no longer a threat to the coins on bittrex.
5. Price is low thanks to that bot, and others now have an opportunity to invest on the coin at PoW prices and can now take advantage of the PoS.
And, here's mitchellmint's explanation, Trustcoin's dev: BitTrex cannot lock an account for this sort of market manipulation. I talked with a representative from BitTrex to discuss my options, which were nearly none.
We caught someone buying high and selling low. We started to profit from it, tweeted to help others profit, and then the market went silent, the bot was turned off. We also notice enormous Sell Walls that were not there before. We asked the community to follow a plan.
The premine is PoSing safely in a Vault 2.18 Million
We took a pause to see who was causing the price drop. Now that it is identified I can only say... MOVING on.
By the way, you can find "the two digits buy and sell orders" on both KTK and TRUST on Bittrex, usually the first buy and sell order: https://www.bittrex.com/Market/Index?MarketName=BTC-KTKhttps://www.bittrex.com/Market/Index?MarketName=BTC-TRUSTInteresting observation. But I just cannot understand why would someone buy high and sell low, and what is the benefit of such manipulation... I don't know the reason too. That's why I called it "the strange dumping".
hero member
Activity: 695
Merit: 500
Mintpal will add tons of new coins in the upcoming week, there will be apsolutly no point in getting there, bittrex is bigger, and if overall volume splits on 2 big exchanges coin will lose
This last issue is debatable, as having more exposure would grab new clients too. However, observing what happened to ZS, I tend to agree with your statement. As for ZS i will state again it is brought down with purpose, someone will get rich there(dirty rich), but in our case going on mintpal will kill it, even on bittrex we have some members that try to lower price at any cost. Fully agree! MintPal in most cases is coin killer. It is happening to most of altcoins on Mintpal . Most coins are only created to be pump and dump coins, people make there money and move on. To actually create something special is becoming harder by the day. If a coin has real world uses or is supported by someone famous/well know then it has a better chance. What we need to ensure is that the fight we have doesn't diminish and we carry on pushing this coin all the way! +1 The problem with the crypto world is it seems to travel at 100mph, and we all expect things like yesterday. Out in the real world it can take months/years to build a company. We just all have to commit and pledge to stick and take one day at a time, if we all agree to that, everything else will fall into place in time. I am willing for the long haul, other coins will come and go, but our determination with some innovation will be the factor.
hero member
Activity: 1022
Merit: 1000
Mintpal will add tons of new coins in the upcoming week, there will be apsolutly no point in getting there, bittrex is bigger, and if overall volume splits on 2 big exchanges coin will lose
This last issue is debatable, as having more exposure would grab new clients too. However, observing what happened to ZS, I tend to agree with your statement. As for ZS i will state again it is brought down with purpose, someone will get rich there(dirty rich), but in our case going on mintpal will kill it, even on bittrex we have some members that try to lower price at any cost. Fully agree! MintPal in most cases is coin killer. It is happening to most of altcoins on Mintpal . Most coins are only created to be pump and dump coins, people make there money and move on. To actually create something special is becoming harder by the day. If a coin has real world uses or is supported by someone famous/well know then it has a better chance. What we need to ensure is that the fight we have doesn't diminish and we carry on pushing this coin all the way!
hero member
Activity: 770
Merit: 500
Mintpal will add tons of new coins in the upcoming week, there will be apsolutly no point in getting there, bittrex is bigger, and if overall volume splits on 2 big exchanges coin will lose
This last issue is debatable, as having more exposure would grab new clients too. However, observing what happened to ZS, I tend to agree with your statement. As for ZS i will state again it is brought down with purpose, someone will get rich there(dirty rich), but in our case going on mintpal will kill it, even on bittrex we have some members that try to lower price at any cost. Fully agree! MintPal in most cases is coin killer. It is happening to most of altcoins on Mintpal .
hero member
Activity: 1022
Merit: 1000
Another exchange is not very important now.
Someone who is getting easy coins through giveaways, faucets, etc. will almost always dump.
I think that pool constantly makes some pressure, and those dumpers will be "eaten" after day, two or three.
We have to make more promotions, also including giveaways, and continue to mining on multipool and constantly push price
All things are going good, we have ongoing development, Tommy is working on online wallet, there is also working on marketplace, android, wp plugin, etc..
Remember, distribution was for a period of month and half, to avoid many dumpers, but some are always present.
This is long-term coin, so we have only to continue to work calm.
That's my opinion.
I agree, some more promotions would be great and getting the KTK name out there a bit more is essential. I'll be on cryptsy chat tomorrow for a bit doing a giveaway.
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