Topic: PACCoin - This needs to stop (Read 172 times)
As anticipated for this shitcoin, it dipped so hard it got sent straight back to the Stone Age.
Why does this literal shitcoin have $600M market cap?
http://paccoin.net/ - Look at the website..Yeah.
http://paccoin.net/ - Look at the website..Yeah.
I think its because there's a big influx of new people who are very clueless about this space and investing in general. Whenever I hear people unfamiliar with crypto talk about returns in crypto they say; ''Oh but Ethereum started out on 70 cents and now its hundreds (now a thousand) dollar! So I think a lot of new people are just buying seemingly cheap coins in the hope they can reach a dollar, this theory is reflected in the fact that over the last couple of weeks almost every pennycoin has gone atleast 100%. Seems like people are just throwing money at whatever and hoping that if they have 1000000000 coins and the price reaches 1$ they will be a millionaire. Looks like a lot of people are going to get burned though.
Thought I came across some youtube video where a guy had tons of KIN and said ''if it reaches a dollar I'm a millionaire, i'm holding because of that reason'' Not really realising that IF KIN would reach a dollar it would be the most sought after asset/currency in the world with a good 10trillion marketcap. I think the general populace either sees crypto as a scam or a get rich quick scheme..
Yep, as was mentioned above - marketcap is only digits on the monitor screen. If the token(coin) is unknown and trades on some small exchanges you can sell it from yourself to yourself, and place the price you want to. And you will not lose anything but exchange fees. And then sell it to newbies who got interested by 1000%+ daily gain. I think it will go higher, wait for it 
Why does this literal shitcoin have $600M market cap?
http://paccoin.net/ - Look at the website..Yeah.
Don't take it seriously. Big market cap but not like you have endless of order at that kind of price. Market cap is decided by users or traders. http://paccoin.net/ - Look at the website..Yeah.
because market cap is easily faked ...thought 99% of people aware of this.
Yeah? Well, that doesn't change the fact that it has risen x100++EDIT: Since you're legendary, can you explain me how the PAC/BTC price is rising in USD, when BTC is staying the same and the PAC/BTC is 1 or 2 sats.
You can tell by the abnormal increase in volumes too.
Probably pumped by whales and pumped groups, then FOMO investors buy in late, and the price dips hard soon.
These numbers are not 100% accurate:
From 28.12.17 to 06.01.18.
PACcoin gained about 5760% in USD.
About the same % in terms of BTC too.
On the other hand BTC/USD gained about measly 7% in the same period.
because market cap is easily faked ...thought 99% of people aware of this.
Yeah? Well, that doesn't change the fact that it has risen x100++EDIT: Since you're legendary, can you explain me how the PAC/BTC price is rising in USD, when BTC is staying the same and the PAC/BTC is 1 or 2 sats.
because market cap is easily faked ...thought 99% of people aware of this.
Why does this literal shitcoin have $600M market cap?
http://paccoin.net/ - Look at the website..Yeah.
http://paccoin.net/ - Look at the website..Yeah.
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