uh, what is going on here?? How many Panda coins are there? So New Genesis Block of panda, no premine, same logos? I don't get it.
Look who is talking about not to dump premine hahahahahh its the 42 coin team ........ strange world
Simply look at the timeline of cryptsy and openex exchange (the only two supports for 42) from dates 01-14ish until now, you can clearly see the volume didn't match the premine of what was traded. And if you trace back the block explorer, you can clearly see, there was no dump from the team-- see the point is, this instamining is not going to stop, that is the theory to this... and business insider clearly did a review about it because they read between the lines with all these new crypto currencies popping up with heavy premine/heavy instamining- Here is the source for anyone interested in reading it (
http://www.businessinsider.com/introducing-42coin-2014-1)
I can't think of the last time business insider really liked to discuss crypto currencies aside from their early on Primecoin press release/review.
My General Rule of thumb when Analyzing any Crypto Currency: What is the
volume traded vs the amount of coins currently in circulation (market cap) vs how many coins are premined. Then look at the overall hourly, 12 hour, and 24 hour volume as soon as it hits the exchange. This will tell you everything about the coin, what the team is up to, and how it will hold a future. Primecoin is a good example because of no premine/instamining theory, which I did learn a lot from Sunny King (Primecoin Developer) during my support with Primecoin.
This goes with any crypto currency as a core foundation when you are judging (to invest) or (mine) any coin. Don't follow the hype and marketing, follow the logic. In a scenario where lets imagine if 42 coin did dump 50% of the market cap (as seen in this screenshot at the time of cryptsy-
http://42coin.org/images/product-image-left.png -- the price would have went reflected a significate drop - similar to what we've seen with Panda and all these other high volume premined coins...
My Estimation- we would have seen 42 go from 2,000 BTC - 1,500 BTC immediately down to the floor (100 BTC) there was not enough coins at the time of circulation.
It was about 0.8 coins mined and the volume doesn't equal to the premine (if it was dumped) like you say its 'strange'.. not strange at all
In the next day or so, I'll conduct a market analysis for some known Cryptos that have dumped and Tag onto the theory we are speaking of now.