someone has an idea why the price is falling down?
This has been covered many times over the past few months, since April 20th particularly. Essentially, like many altcoins, there's no market use for the coin. Yes, you can use potcoin to buy some merchant stuff with it.. but it was designed as the currency for pot. It is not the currency for pot.
The long and short of it is that it has no commercial/marketable use, and the major updates over the past few months are all just announcements of hype with no tangible value. Maybe one day this will change.
Also, the price right now is about a quarter of what it would've been if folks hadn't demanded halving schedules be shifted up--so they shot themselves in the foot there also.
See the below quotes, these were relating to community members freaking out about price drops and calling for coin blocks to halve quickly, because they thought they had a clue about economics and basic math (which they didn't). Bold = relevant text.
I'm not really sure why people are upset about a halving...increasing scarcity is important for the value of a coin. If it never becomes harder to obtain, it'll never really gain significant value. I'm assuming there's a healthy split here between people who are speculating and want the value to go up, and people who want the coin to achieve widespread use in the medicinal marijuana community. Both should want the value to increase. Overabundance of supply and lack of demand will cause the value to slide downward.
When less new coin is mined and dumped on the markets, there will be less available to trade and the value of what IS being traded will rise, IF demand increases beyond the new supply. That demand is largely up to users to create. I see a lot of folks in this thread talking about how the developer needs to do this or that. No...it's up to you to request it and promote it. Ask your dispensaries if they'd consider taking it as payment. Educate them about it. Don't leave it all up to the devs...they have enough on their plate.
Right, except of focusing on increasing use, we're saying let's limit supply. Without use, there is no demand. Reducing supply when there is no demand is pointless.Again... backwards thinking.
-Fuse
Tell me why its a bad idea.
They are halving the coin because it needs to be done. All 420 million coins mined in a year of existence is too fast.
With respect, can you scientifically and mathematically prove 'why it needs to be done'. Use references from the past 2 year's worth of currency data, and especially cross-reference coins which have changed rewards, including the ones which survived and the ones which didn't, and show correlation as to their end result.
Because it doesn't "need" to be done. Whether you're at maturity now, next week, or 5 years from now, there's one constant: no use for the coin.
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i love opening packages