Topic: [XPM] Who and why someone is stockpiling Primecoins ? (Read 1510 times)

I have read the OP, dude has BTC's to spend, said dude thinks xpm is at a good price and thinks he will profit, dude buys.  It's not rocket science or failproof but not that hard to grasp.

I haven't seen any massive buys.  There have been the odd hour where 5k+ has been bought, but usually not more than 1-2k at a time.  These are NOT massive buys.  I'm sorry, I know that is a lot of money to a lot of people, but there are investors and speculators that can throw $1k at XPM just to diversify their portfolio.  I believe that XPM has a good chance to rise by 3-5x over the next month.  READ GOOD CHANCE, NOT DEFINITELY WILL.  Many people agree, hence it is worth the calculated risk for a $1k or more investment.

"Expensive" buys, what does that even mean. If they believe price will rise it's not expensive, it would be cheap.

Why do you all always need to find a special reason to justify somebody buying a coin?

If somebody buys a lot of coins, two things are known:

- They have a lot of funds
- They think price will rise (either by itself, or by performing their own action, convincing people that this coin is worth more)

That's it imo. No magic involved. Who cares who they are..

ok so you have not been reading this op.

I'm talking of massive buys and expensive ones.

Because they believe the price will go higher and hence profit?

I'm selling to cover my cost, and my farm is small... 50 vps.
We all know farmers need to cover their costs, but still the question remains who is buying so much and why ?!

who is buying so much and keeping the price so high ?!

There is possible future in primecoin, sure ppz are buying!

I as many are waiting on LTC to hit the true price, if i had BTC i would invest in prime now for sure

I'm pretty sure LTC will reach $10 before BTC ever hits $200+ again.

You will need at least $50,000 to move BTC up to $100 right now on BTC-e.

And I wouldn't call a $0.06 drop in LTC price a "crash"....

It's worth reminding everyone that difficulty doesn't drive a coin's price.

I think the GPU miner may end up disappointing a lot of people. Lets wait and see.

Ive bought "some coins" (not on that exchange though). I know why Im buying and it isnt that strange that people are. Actually my plan is too buy a truck loadd more. Look around, many of the obvious pump n dump coins are now old enough to show their true color. Forking a coin isnt enough that much is clear now. Much like Litecoin, Ppc Primecoin has something that is _new_ proving it to be more the "just a fork". Meanwhile price of Liteoin is crashing from ocerbought levels and for sure Primecoin is ready for. GPU Aminers that will runn up thw diff causing evenen fewer coins toto be mined. At the same time Primecoinn is anan "unkown" and has not yet proven too be a sucky coin - so there still is a slight chance of it being successfull thing. Hence, sell Litecoin and buy Primecoin. Sell crap coins buy Primecoin because of the fundamentals. Techbically speaking price has been inn a consolidation period, proving that noone is willing to sellell themthem cheaper, which means that the next thing we willl find out is how expensive they could get - making them an obviously very goood technical trade riskreward wise. Ive noticed that Im buying aa lot more then other people on the exchange I am at, but Im betting that more people will join inn when they begin to see price climbing. Hopefully we _dont_ see an explosionn in price but an orderly climb. At this point it is however 100% that it is a pure price speculationn on poor fundamentals. Highly illiquid maket and big risk for big positions. Just my 5 cents.

Edit: to be super clear. Which has the greatest odds of doubling, primecoin or bitcoin? How much monwy is needed toto double btc compares to xpm? As I said, right now a bet Imm willing toto make.

For every buyer there is a seller. So who is selling so many coins?

Maybe one of the big VPS farms are selling to cover their costs.

I think it's mtrlt buying all the coins as he knows his GPU miner will come online soon and the difficulty will jump and coins production will drop.

Interesting.

http://www.cryptocoinsnews.com/2013/08/10/xpm-who-and-why-someone-is-stockpiling-primecoin/

I've been following XPM trades at mcxNOW for a few days and noticed as everybody else over there that some recurring massive buy orders are taking place.
We're talking of 3k to 10k buy orders and there has been quite a lot of them, usually 2 to 5 per day. We just had a massive buy of 4842 coins an hour ago and earlier 8k coins.

So someone is stockpiling and he's (they?) not buying cheap. Realsolid talked about it, he advised to keep XPM in the wallet and told us the exact same thing, that some people are buying thousands of XPM daily.

Now the question of the who won't be answered, but the why could ! Any ideas ?

I think it's because of the algorithm that decreases the amount of coin mined as difficulty gets higher, meaning that in time a lot less coins will be mined probably leading to a higher price even if blocks are found at a steady rate.

What do you think ?