Topic: [pandacoin] The Panda Coin ♥ Scrypt Adaptive-N w/Kimotos Gravity Well ★ - page 43. (Read 398951 times)

Hope + Greed

and

Fear + Despair

Noobs need to stay out, this is exactly the formula to lose money and this coin exemplifies that

This coin has no fundamentals and is now a plaything for the traders.

So many coins are under 5 satoshis right now, this is the worst one for a noob to touch.

I'm not want to post on message boards, however I feel compelled state my opinion on what I see going on here.   Most people are are going to hate what I have to say, but F them they are the sheeple that are bitching about getting scammed.

So here we go....

If you are "investing" cash you can't afford to lose in an alt-crypto currencies, you are a moron.  If you don't realize that the whole crypto currency is the new "Wild West" (USA slang reference) you are also a moron.  I have no problem when stupid people do stupid things and get crushed, learn from your mistakes.  I've traded futures and commodities for 16 years professionally as an exchange member, I learned what to do by learning what not to do.  The pain of losing money is a great teacher.  However, most people are to weak to learn from the pain and just quit. If you want to ever really make money trading anything, you need to realize losses are inevitable, and you need to take your losses when you plan isn't playing out.

I wasn't going to mine this coin because it premise was retarded, "backed by Wolong" Who the fuck is Wolong?  I looked him up and he is some "Asian Crypto Currency Sage"(sarcasm inserted).   Ok, after finding that out I thought... I want to mine this knowing this is going to be a pump and dump, especially after with all the hype that was coming around the launch date.  I was only made aware of this coin cause I was mining VRT, and another VRT miner told me about it.  So Mined the coin from the get go and 24hrs after.  I mined around 37million coins and sold up from 45 all the way to 98, my volume weighted average sell was 72.  This was my plan, be out within 2 days, max. Sooner if the market takes me out at prices.  

What I see on these boards are a lot of people who want to be "crypto currency traders" and a lot of people looking to get rich quick, but don't have a clue what they are doing or how markets work.  It's like the poker saying,  "If you sit down at the table and can't spot who the sucker is, it's you".  So to all the suckers you bought my coins from me, thank you and please learn from your mistakes and review your logic for buying this coin at the prices you did.  Don't ever put your money at risk because someone else gives you a tip,  consider who they are and what there angle is.  

My final thoughts are this... my miners are back on this coin and I'm using 20% of what I made from this coin to buy it back (my plan is risk 20% of what I made from this coin to buy it back knowing it could be worthless, but if it works the rewards are worth the risk) I've been buying below 5 sats and have bids in from 4 down to 1.  My premiss is probably 2/3 the coins are now controlled by less then 10 people.  It may take few more days to get the weak hands out and absorb what the other miners are selling, but I don't think the other big stake holders are are looking to for a few statoshi's on their positions.

Lastly, everyone says this coin is dead fuck it.  But I guarantee if this coin does move back up everyone denouncing it will come back and mine, in the end its all about the money.

FYI what are the odds I put on this coin coming back to life, I think around 20%, but if it does the size of my bet is worth the potential payoff.  

My rambling is over, hope I didn't piss off to many people.  If I did, then you don't get this game anyway, so who cares.

Ohhh, just to be clear I am not advocating this for the current team. There's no community trust in either party to pull this off, I was just thinking of how it could succeed on a conceptual level (possibly)

Agreed! It doesn't have to be this exact plan (as you point out), but something very similar.

Stop all of the whining and get a plan like this together -- now.

The only people who really got hurt are:

- The whales, like Molly, who for some reason had faith in Wolong
- The IPO investors who got greedy, they saw instant 200-400% ROI and didn't sell
- The traders who bought at the top and the way down

Now, the traders (as i'm not one) should expect that risk on any coin, so is it a hurt? Maybe, but that's the game they play.

0 day miners had it the best, IMO. You ended up with a lot of coin that you were able to instantly flip at great profits. If you mine hype coins and don't immediately unload 50-75% as soon as you can, I think you're just being greedy. Figure out what you want to save and see if it goes to the moon. Sure, you won't make as much as you could have, but you also won't be left in this situation.

Now, with all that said, I am still compelled by the idea of this coin from a conceptual level. If you could work out some form of actual trust in an IPO (i think that vodcast mentioned multi-sig wallets as an example), and use the IPO BTC as a form of "stock buyback" to support the coin. I think that's a pretty good idea. It's what corporations do to support their shareholders if the price falls, so why not in crypto.

It clearly failed here on 2 fronts.

- The devs seemed relatively naive to cut such a deal with Wolong (I had no idea who he was before this coin). I mean, you let this guy get his hands on ALL the BTC AND the premine?! Did no one think this was a bad idea? This, plus the IRC logs, really illustrate to me that they are knuckleheads.

- Wolong's instability. Regardless of whether he got pissed off at a dev for selling some or not, he still could have made a shit ton of money if he kept things going and talked to the devs privately. This just reinforces the notion that the devs are kinda stupid for not really having full understanding of who they went into business with.  

So... how could this have succeeded?

I dunno, you needed some method to insulate the IPO BTC/Premine from the person(s) supporting the price. Put it in escrow, multi-sig (does this even exist yet?) wallet, in the hands of a reputable person.

You would also need to outline the use of the IPO BTC in support of the coin. i.e. "we'll support the IPO price with BTC and every 7 days, purchase x amount of BTC at current market prices until the IPO funds are used up (make it something like a 6 month timeframe where IPO funds would be put back into the coin if the price stays above IPO price). These bought back shares will be split among the devs/team as their salary (and outline specifically who is getting what)". Do something like that and have no additional premine on top of it and it might just work. But i'm only spitballing here, haven't really thought it through.

The shortcoming on any scheme like this though is the human/greed factor... which there seems to be plenty of here

Only animal on the planet that has celebrity status by default.

Men i stop with bitcoins, all coins are ponzi scheme.. bye bye.. and wolong.. if u read this, die with your mom and your family.
I know u visit sometimes Netherlands nearly Rotterdam and i know how you look like.

Come here and if i see you, i will kipnapp you and knock you down till u almost dead. still alive to let you suffer.
Mother fkcer

I'm not want to post on message boards, however I feel compelled state my opinion on what I see going on here.   Most people are are going to hate what I have to say, but F them they are the sheeple that are bitching about getting scammed.

So here we go....

If you are "investing" cash you can't afford to lose in an alt-crypto currencies, you are a moron.  If you don't realize that the whole crypto currency is the new "Wild West" (USA slang reference) you are also a moron.  I have no problem when stupid people do stupid things and get crushed, learn from your mistakes.  I've traded futures and commodities for 16 years professionally as an exchange member, I learned what to do by learning what not to do.  The pain of losing money is a great teacher.  However, most people are to weak to learn from the pain and just quit. If you want to ever really make money trading anything, you need to realize losses are inevitable, and you need to take your losses when you plan isn't playing out.

I wasn't going to mine this coin because it premise was retarded, "backed by Wolong" Who the fuck is Wolong?  I looked him up and he is some "Asian Crypto Currency Sage"(sarcasm inserted).   Ok, after finding that out I thought... I want to mine this knowing this is going to be a pump and dump, especially after with all the hype that was coming around the launch date.  I was only made aware of this coin cause I was mining VRT, and another VRT miner told me about it.  So Mined the coin from the get go and 24hrs after.  I mined around 37million coins and sold up from 45 all the way to 98, my volume weighted average sell was 72.  This was my plan, be out within 2 days, max. Sooner if the market takes me out at prices.  

What I see on these boards are a lot of people who want to be "crypto currency traders" and a lot of people looking to get rich quick, but don't have a clue what they are doing or how markets work.  It's like the poker saying,  "If you sit down at the table and can't spot who the sucker is, it's you".  So to all the suckers you bought my coins from me, thank you and please learn from your mistakes and review your logic for buying this coin at the prices you did.  Don't ever put your money at risk because someone else gives you a tip,  consider who they are and what there angle is.  

My final thoughts are this... my miners are back on this coin and I'm using 20% of what I made from this coin to buy it back (my plan is risk 20% of what I made from this coin to buy it back knowing it could be worthless, but if it works the rewards are worth the risk) I've been buying below 5 sats and have bids in from 4 down to 1.  My premiss is probably 2/3 the coins are now controlled by less then 10 people.  It may take few more days to get the weak hands out and absorb what the other miners are selling, but I don't think the other big stake holders are are looking to for a few statoshi's on their positions.

Lastly, everyone says this coin is dead fuck it.  But I guarantee if this coin does move back up everyone denouncing it will come back and mine, in the end its all about the money.

FYI what are the odds I put on this coin coming back to life, I think around 20%, but if it does the size of my bet is worth the potential payoff.  

My rambling is over, hope I didn't piss off to many people.  If I did, then you don't get this game anyway, so who cares.