Bitcoin Forum

Can somebody explain this situation with Cloak why is up when everything else is sinking? ???

Yes just wait I will buy it on top now...  ;D ::)

No one knows.! Most altcoin now are on reds but there are some who are on greens as of now and i guess if i do posses that coin maybe its time to sell before it would already go to the flow the same on most coins in the market.My portfolio as of now as sinking the same as titanic ship. haha. I didnt see even a single coin are on positive but well theres no choice but to hold up and wait for the market to rise again.

logically altcions are not and should not be connected to bitcoin price. they must act separately and on their own. but realistically this never happens. whenever bitcoin has dropped all the rest of them dropped harder with it.

but exceptions like this happens all the time. if you look at the market in past 24 hours you will always, without exception, see at least 2 coins rising. that is the altcoin pumpers hard at work.
looking at coinmarketcap today's coins were GAS, Edgeless and Cloak

Nobody knows...

So for a simple and good reason. Cloakcoin is a very good anonymous crypto. The team has been working tirelessly for 2/3 years to create a totally anonymous and completely decentralized room. R3R is an excellent developer and many people are looking forward to the release of the open-source that is scheduled in 2/3 weeks.

The technology used is a new creation, not a clone and is called "Enigma".

Personally I love the team, and I think this is a very promising project!

Cloak also has a very low market cap, the price is easily moved in one direction or another.  That plus the the anonymous factor and the potential of the project are a decent explanation of its rise.

This is because cloakcoin doesn't have a huge market cap like other alts it has a market cap of just $14 million and maybe there are no investors from china on the numbers are less other coins including lost their price because investors had billions in it but cloak doesn't even have that much of cap so a drop in price will most likely not occur for it.

I think someone has been pumping it hard.

Roughly 5 million coins, great community, hard working devs, coin has been around for over 2 years, 6% annual staking, anonymous technology, user friendly wallet, open source for enigma engine soon to be released.

This was just a matter of time, I see this coin going a lot higher given the amount of coins in circulation.

Exactly I think this is good explanation of market situation. All altcoins drpping together with Bitcoin and this spike of CloakCoin is just hard working pump@dump groups. There is few pumps each day.

Pump? Nope.
Cloak has a lot of potentials and has been focused on development rather than hype. Coupled with the limited supply, you're looking at a winner here

Yes, no one has yet been able to give a satisfactory reason as to why altcoins do NOT follow the logical path of self determination. And like you said, all these alts that rise when others drop is purely the effort of pumpers with BTC at hand ready to stop the red wave. Will we ever know which coins will these be for the next bear? Unfortunately I won't...

Circulating supply is really low.....

It looks like a good investment right now. I better get this wallet downloaded...

thanks!

with that market cap i even pump that coin..
dont waste your time and money with theese kind of coins..

Why should someone dump a coin that could be like a money printing machine through the stake interest?

1000 Cloak earn 5 Cloak / month, at a price of 50$ that's 250 $, at a price of 100$ thats's 500$
6000 CLOAK earn about 1 Cloak / day, do the math ...

And that at hardly any costs, you do not need to keep your laptop or computer running 24/7 to get those rewards! Staking weekly or monthly is enough.

Such things happen regularly with coins with small marketcap because the price can be easily manipulated. Probably the devs and investors decided that many people will react like you did and will buy the "rising" coin. And I don't think this "rising" will last long, though they still can make some money on the manipulation.

Because it is a good coin backed by decent technology and a good community. There’s been some major speculation to see if it will hit a huge pump, which is driving up the price.

Don't you have to leave you wallet 24/7 in order to stake?
I always keep it opened to stake it. You can open it ones a month and get you staking reward? Strange, never heard of it.

No there is no need to keep it open 24/7. Keeping it open 24/7 the wallet will produce many tiny fractions, you help stabilizing the network, 24/7. But you can also send all your coins to one address in your wallet, then switch it off and sync after 1 wekk, 1 month, what ever timeframe you choose. Wait until your coins staked! You will still earn 6% on your amount per year.

If you've got 1000 Cloak in your wallet open 24/7 you will earn about 5 Cloak in many tiny fractions, if you stake 1000 Cloak (sent as 1 amount to an address) after 4 weeks, you'll get about 5 Cloak at once.

Mature time for CLOAK is 3h, there is no maximum age for the coins!

hey. but that is a huge kursansieg. it's good. I unfortunately missed it. this can be annoyed
you should pay more attention and often look at coinmarketcap  ;D
but good for all people who have invested. really cool

Ah, thanks a lot, I didn't know that.
I was keeping CLOAK wallet up and running 24/7. Will close it for a couple of weeks to test.
It consumes around 1,5GB-2GB of RAM, so that's a great benefit.