Topic: My thoughts on what's happening to Blackcoin (Read 2241 times)

Blackcoin was 99% instamined.

The creators rented out huge hashpower farms over the 1 week distribution period to get all the coins.

Avergae joe-miner wasn't able to mine hardly any.

It was all being dumped, until once the mining phase was over, they started faking the volume. They trade back and forth with themselves to pump the volume and price since they own all of it....nobody could dump on them, since they owned it all.

I don't know the history of this coin.

blackcoin #9 in marketcap- Far from a derailment
Your experiencing or may be suffering from a delusion

Ironically, even if it was just a natural market stumble, I bet some of the people in the agreement assumed it was on of their "partners" breaking the rules, and took reactive steps which led to the market stumble becoming a cliff.

Game theory in motion frankly.

But that isn't necessarily it. A lot of time when you throw in an unstable variable (i.e. market makers against sellers), it inherently creates a "chaotic" kink into a system. But like a lot of this scene, it's all about screwing others while keeping yourself up as much as possible.

Or maybe the problem is that the agreement between the huge BC holders not to sell is crumbling because a few people got greedy and once they saw some people were breaking the rules they all started selling some of their stashes to make sure they didn't get stuck being the last bagholders?

Blackcoin was 99% instamined. The creators rented out huge hashpower farms over the 1 week distribution period to get all the coins. Avergae joe-miner wasn't able to mine hardly any. It was all being dumped, until once the mining phase was over, they started faking the volume. They trade back and forth with themselves to pump the volume and price since they own all of it....nobody could dump on them, since they owned it all. People don't know the history of this coin. Whoever buys into BC may be about to lose 95% of their money, and you just made these scammers millionaires....so expect more of these type of scams. fake volume scam coin. the distribution on this coin is terrible.

yah why is it still 300% up since last week then

Hi all

I can't take this any longer...With all this madness going on right now, I have to step in and say what I gotta say.
First of all, Blackcoin is not crashing...it still is +50% comparing to one week ago.

This is what's happening, and I hate to see this happening:
After BC started to gain some decent volume, a lot of greedy ppl jumped on the blackcoin train without knowing anything about it's background. Ppl bought BC based on the green numbers and the huge trading volume they were seeing.

@ a certain point we almost reached the magical 100K barier, and that's when some big bad shark decided to collect his profits...because he knew he could do it all over again...
This big guy knows, just like I do, that there are many scared fish in the Blackcoin sea, and when he sells of in one time, he will scare them, and force them to panic sell.
Now, you have to know that these little fish swim together in a school...so when one little fish starts to panic, the rest will follow...
So, in no time we took a dive to 50k, 40K, 30K, 20K, 15K.

Because the shark is greedy, and because he wants all the shiny blackcoins from these little fish, he asks his friends to help him to scare the fish even more... He pays them to spread fud in the Blackcoin main topic...Or does the shark didn't know I would notice that 99% of the fud talking nobrainers are newcomers with profiles no older than a few weeks?

They keep on doing this, untill he decides that he collected enough shiny blackcoins for his next round...
When will this happen? No one knows, only the big bad shark himself...

The same thing happened on our way to 10K...many ppl lost their coins to this guy(s).
History will repeat itself on this coin...again we will steadily continue our path to 100K and then, suddenly...boom...110K, 120K, 130K,...

Now, what am I trying to tell you?

1. Never ever buy a coin that you don't know...do your homework, and only buy the coins you really believe in.

2. Never ever sell a coin lower than the price you paid for them...your loss makes someone else richer (the sharks).

3. Everyone is here to make some money, sell your coins when you decide that you made enough out of it, or just keep holding on to them if you really believe in the coin (like I do in BC)...but for gods sake...never ever sell when it's in freefall modus...

4. Read all 984 pages in the Blackcoin main topic, after that you are left with two options

--> option one: you are still not convinced that Blackcoin makes a good shot to become N°2, and who knows even N°1 in the world of cryptocurrencies: Please stay away from Blackcoin, and look for a coin that suits you better.

--> option two: You are convinced that Blackcoin makes a good shot to become N°2, and who knows even N°1 in te world of cryptocurrencies: Please, buy as many Blackcoins as you can @ these ridiculous rates, but only with money that you don't need to live, so you won't be forced to panic sell when we take another dive...

Regards

BTC was fallen from 30$ to 1$ once even...
BC in this few month went up and down too this are facts.
10x over pump was before.
5m volume - with 10m market cap means something many cheap coins were sold from 500-1000 deepths.
This coins is still under 1$ per each it have big room to rise.
On forex or in crypto you have ups and downs.
People who invest on way up and wanted ride waves can be caught as lat in train unfourtanetly.
When BC risen 10x in 2-3 days it was impossible to hold price all we know that nothing is rising forever up...
anyway that volume brings new people in BC and this is great.
BC to rise needs dumps to more people want join in after selling storm and new price lvl is created every time.
In long run price will go up but such events are allso necessary to new owners to be opportunity to join in.

I didn't sold my BC from beginning i was donating projects and buying new BC's.
(i tried daily trade but i wasn't good at it and decided for long houl i am very happy from my decision now. )
and  from direction which BC has it for sure is making BIG itself.
Value of it gives people and their hard work around a coin.

It was a very impressive bubble. Why would anyone who holds BC ever think it would act differently to every other coin out there?

I'm sure it's lovely. The people who milked it don't really care about that.