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The price of the coin, and the success of the developers project hinges largely on the confidence of the large bag holders, which is in turn built on the developers communication and product. It is as simple as that.
Your argument is based on the above and you couldn't be more incorrect.
Large bag holder have had a freeride to making allot of money, that's where their involvement ends. if they want to dump their coins that's not going to kill this project, people like me, and there are allot of us, will happily pick up those coins at a cheap price because of the foundations behind this project. It's completely self righteous that you believe you contribute to this project anymore than making money from speculation.
Anyways, Dump your coins, let every large bag holder dump their coins and see if it affects the progress of this project at all. It won't. The technology and the team are what dictates the value of this project, not large holders. If every large bagholder dumped their coins the price would crash, but new speculators would pick up those coins near immediately, and over the longterm the price will recover probably stronger than before, because the value is stored in the technology, and people will happily buy through that sell pressure because we appreciate the true value of this project, not what some early adopter thinks the price should be. Welcome to a free market economy. if you want to sell your coins cheap, trust me, there are hundreds of people just like me who willl buy them off you and restore the price, People who don't need constant validation from the developers that they speculated on a good project.
Honestly, Arguing that large holders of this coin play into the sucess of this project is insulting to the developers who have spent actual time building this project. I'm taking a break. Be greatful you've had a free ride, stop assuming the developers should run to support the price just to protect your free ride, you've done zero to contribute to this project, and you can't affect the price long term fullstop.
I'm sorry if this sounds personal, but stating you contribute to the success and the ultimate valuation of this project fullstop is beyond insulting to those who have actually put time into developing this project, and those who understand the basis of a free market economy.
Your thought is that lack of confidence created by price swings only affect short term price and that long term the quality of the product will see the price rise back to where it should be.
I wish I agreed with you. I have spent 25 years as a project manager in a development environment (games), and seen many a good project fail not because of the quality of the product but because of a loss of confidence. Sometimes if a price falls far enough the loss of confidence in the price, not the product stops it retracing.
Maybe I'm just a little jaded.
Unfortunately it is absolutley true that the market contributes to the success and ultimate valuation of a product, and the market is the people who hold the coins. the more coins someone holds the more influence they have on the market. You only have to watch the daily whale manipulation of bitcoin to see that.
I am totally grateful for my free ride, and it is just that. I've never claimed otherwise but, I also think that my statement of the symbiotic relationship between the developer and the holders of the coin stands true, maybe they did nothing to deserve it. Happy to accept that, but their stake in the project is still there.
Anyway I think you totally misunderstand my intent. I have stated enough times now I have no intention of dumping my coins, I think its a great project with loads of potential, but not without potential pitfalls. Why would I dump when I want it to succeed? I want market confidence not fear.
This all stemmed from the fact that there are certain people in this community that call any difficult question or probing of the coin fud. This is not, in my mind a way to success.
Software based projects improve and get better from the difficult questions and tests, that's how the problems are found and solved. As a community we should be able to spot the difference between trolling and important questions, just because you may not like it doesn't make it 'fud'. We are the perfect focus group and testers, it should be embraced and made the most of, not pushed aside and, to ATCSecures massive credit, he has not shied away from testing the coin in public. That should be massively applauded.
Somehow all this has stemmed from the fact that I wish the loljosh thing had been more clearly resolved sooner before it became a big deal. No idea how.
I am not looking for argument or conflict here, just stating some thoughts I have. I know you disagree, that's cool, there is no definitive truth in my opinion or your opinion, just a subjective assimilation of the information available to us. You will note, even though I disagree with you, I have never said your opinions are bullshit or said anything personal about you. I would appreciate the same respect in return
Sorry. It's been a heated morning outside of the bitcoin world. You are correct. And your opinion is completely valid. I do apologises.
You are right, without some sort of confidence in the technology it is possible the adoption could stagnate, but unlike computer games, where sales usually rely heavily on marketing and positive reception, the sucess of this project relys allot more heavily on the useable application if the technology, and allot less by its appearance. To make an annalogy, While arts can be interpreted differently, technologies are extremely black and white. It's easy to manipulate an art into being unwanted, but to do that with a technology such a cryptocurrency, it is extremely hard. It's because the foundations cannot be interpreted differently, while games can.
And I do agree the loljosh situation could have been handled differently, but for people to assume that ATCSecure hasn't had to outsource something seems rather crazy to me, and to assume he should stop developing to ease the mind of speculators to me seems absurd. This is his project, in my professional opinion, he has absolutely zero responsibility to explain his actions, I think the software he develops is the only right we have to judge him on.
Anyways, going back, I think the main argument I'm trying to make is it is very hard to distort the true value of a pure technology, even if everyone sold the value would still be realised at some date because technical specifications leave extremely little room to interpret.
Once again, I am sorry. I shouldn't bring my personal emotions into a serious discussion.
