Bitcoin Forum

What is wrong with those dumpers?

Someone's manipulating DevCoin market from a few weeks ...

when this madness will find the end??
What do you think?

I know someone want cheap coins ;)
but perhaps miners of devcoin are not really happy with this what is happening ...
http://www.marcinkozbial.host56.com/dvc.png

Honestly, who cares about Devcoin? Unless, you're cloud mining with cex.io, I don't even understand why anyone would even want to mine this coin.
Good luck though, If you can ever make a profit.

Time to buy, eh? ;)

Yeah :) seems like time to buy indeed. But I am in fear that those guys who want to dump the price so much are hitting it to hard ...

time to buy ... yes ...

I bought 250k @ 48 sat... and already lost 20% :)

I know how Devcoin alltimechart looks :) and I am watching Devcoin from it's release.
And I know that (perhaps) soon prices will go up up and away to 120 sat of some..

Just now I am getting worry when it might happen ... and how low price can go?
to 1 sat? Is it possible??

Impossible is nothing ... but 1 sat can kill DevCoin.

As you can see from it's hash rate and rising diff this coin is very alive and people want it to be alive...
:)
I care about Devcoin because I am trading Devcoin science release.

This is strange coin but as you can see from history charts you can make a good profit while trading it.

I am not a miner and I do not mine.

I miss the old days of dev at 2 satoshi, stocking up on it.

I've been watching this coin for awhile and it has not gone much of anywhere.  Given that so much of it goes to the foundation, you would think they would be able to build more infrastructure for it.

Devcoin has been quite easy to make profits from, check the charts.

Buy low, sell high  :)

I have a problem with patience, and I hate sitting on any Alts because of the fact they can crash so easily and recovery time is much more than I can stand.

I have a problem with patience, too. I'm trying to overcome it because it nearly always ends up costing me profit.

I feel your pain. I have lost a ton of money because of my impatience.
And it's funny, because usually when I do sell, it seems like in an instant the price starts rising dramatically.

Soo, i guess now is a good time to get into DEV? :D

you think this is bad?

look at DGC. nightmarish dive into limbo

lol take a look at 80% of alts.... dev coin is holding up well.

Think i will invest after seeing how resilient it is.

DeVCoin is still way up above 30 satoshis, sure it is dipping deeper into my buy orders (which I have at every satoshi of price from 1 on up to the active trading range) than it did on the last couple of dips, which is great, but it has gone down as low as 27 satoshis not so very long ago and that was great.

Dumpers must be tryign harder this tiem around though as last couple of dips they only managed to push it down to 50 and 55 or somesuch.

The deeper they manage to push it though the more coins we buyers get to buy and the cheaper we get to buy them, so that when the uptick comes and we get to sell them all for two or three or more times as much as we bought them for we will have that many times as much bitcoin to sit back down on the buy side to make it that much harder for dumpers to drive it down on the next downtick...

-MarkM-

Merge mining destroyed all the SHA256 coins.  I talk to so many farm minersof BTC that merge mine all these coins that they end up not knowing what to do with them.  They just dump them as soon as they get them because the prices keep going down.

Merge Mining is the worst implementation for coin networks.  I can't believe they didn't forsee this happening.  That is what happens when you get a computer science degree but don't double major in finance.

Indeed! at least 90% if coins are in a serious bear market. Bitcoin is even down just under 50% since it pre China confusion of December.

Especially considering the ballooning size of copy cat coins... Devcoin the first (and only? if not only, the top one) to design a coin not motivated chiefly by investment/spending value. It has a very different value system that all of the coins, bitcoin included, which is this emphasis on valuing open source creations. Creative action for the benefit of everyone measures much better IRL than by any metric like fiat currency. This coin will be useful even no matter its USD value.

Once the overall bear market reverses, Devcoin's unique flavor makes it stick even more as we we have 150+ coins nowadays.

Without merged mining blockchains are insanely expensive to secure.

Look at all the scrypt coins that cannot be merged mined, the highest hashing power of the lot was litecoin yet almost overnight a stupid meme drummed up more hashing power than litecoin had, showing that even the most secure of the lot was actually not secure at all really, just some stupid meme could have blown it away. Luckily it happened to be a "lets be yet another crapcoin!" meme instead of a "lets PWN the crapcoin blockchains!" meme but it showed how pathetic even the "most secure" scrypt coin was.

Now there are two scrypt coins about that pathetic (litecoin and DOGE), and all the rest are just so insanely pathetic that encouraging anyone to buy any of them should be criminal negligence or maybe outright fraud for pretending they aren't just honeypots waiting for enough suckers to put money in to make it worth attacking.

-MarkM-

The coin may stick for the financial types, but having watched the value dip slowly downward this past month while writing my fingers off I can tell you with some assurance that a lot of the "artists" will disappear if this keeps up ...

Creative action requires a patron - when that patron turns out their pockets the artist flees. I know Devtome has been through this cycling before, fewer artists equaling more shares for the remaining ones - it just seems an odd way to run a ship.

But I guess that's high finance for ya'.  ::)

The low prices mean that artists who got coins during times of higher prices could well have sold some thus being ready to buy back cheaper now that prices are lower.

Plus of course those who do not write when the coins people wrote for two months ago are at low prices will not have coins coming in in two months when prices might already be much higher.

Maybe it is a selection mechanism that will help select artists who are intelligent and have the discipline to manage their business/finances, to defer gratification and so on.

Those who sold some on the way up to 193 satoshis per coin a while ago should be happily buying on the way down right now ready to catch the next uptick... Or writing like crazy if they figure the next uptick will not happen until after they get paid for what they write today...

However it seems possible that we might be gradually lowering the volatility over time. As more and more orders pile up from the top down on the sell side and from the bottom up on the buy side we might already be squeezing the volatile range.

-MarkM-

Hehe yes :) recovery time sometimes takes too long :P I have problems with patience too :)  but seems like DVC price is going up from morning ;)

Perhaps upticks are comming back to dvc :)

See vircurex wall :)
It looks much much better then yesterday :)

http://www.marcinkozbial.host56.com/dvc2.png

Dumpers seems to be not so happy right now :)

Hash rate is rising due to merge mining with Bitcoin.
People doing the merged mining have no interest in Devcoin, so dump it as soon as they can, so the price goes down.

Yesss :)

Price is going up :P

wall looks much better :)
http://www.marcinkozbial.host56.com/dvc3.png

Evry hour price is going up for now. And according to it's history - I think it is possible that we will see +20% tomorrow.
What do you think?

Excellent points - thank you! I've never seen it explained quite this way before and it makes it abundantly clear.