I get that FCT is manipulated, but I still don't understand why -- or how it could be profitable. A couple days ago someone sold into a 100+ BTC buy wall in one go. With M2 approaching, how could that strategy ever be profitable? In what strategy does such a move make sense?
I find it hard to believe that it was just someone wanting to get rid of a lot of FCT right now.
And we've seen obvious signs of downward-manipulation in the past, through sell walls, real and fake, etc.
So does anyone have any theories about what's going on? How can this downward manipulation be profitable? There seems so much natural upward pressure, with promises of more to come, and more intensely. If the whale/s are playing the shorting game, there have to be easier markets ...
liquidity attracks liquidity. If there is no liquidity and you wanna buy or sell 100 BTC worth of FCT, you have to hit up to (approx) 5% away from the spot price. So for someone who doesn't want to move the market but wants to buy or sell a big size, it may sometimes be a good idea to wait. |
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Well, if it s a major product, the price should move to the next support level and stay there. At least this is the scenario we ve been facing for the last year or so.
the next big level on the upside is 0.0047 |
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probably some whale will dump it and it goes to 0.004 BTC...
Who will blink first ?
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why TODAY in particular ?
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Hi
I don't use the (command line) wallet everyday, but so far I managed to use it quite a few times without any problem
Today, i'm trying to create a transaction by typing
./factom-cli addinput transaction1 FA2xxxxxxxxxxD8 2
and i get the message "Failure to locate the transaction"
If i type ./factom-cli balances i can see the above address with my balance [of course i use copy/paste when typing the addinput line]
Am i doing something wrong ? why is this happening ?
thanks for your help
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FOMO'ing a bit in FCT.
nowhere as much as i had before
Yes i missed the last dip below 0.0037 but i managed to catch 2 bounces, so...
No strong conviction the correction is over, still think the weekly bearish divergence is into play and see much lower prices,
but hey, i might be wrong, and in the long run i think FCT is cheap enough to put some chips in, after all, i got everything out over 0.005... so just taking a bit of that.
the latest fast daily declining trendline seems to be broken so a re-test of 0.0047 (pre-flash crash level) seems now possible to me, especially BTC is taking a breather
ready to change my mind any time.
I will never see it go below 300k sat so i opened a really small margin trade, if it gets below 300k i can buy in really big. Might see a pullback to 350 levels but thats it if you ask me. never say never, when ETH was trading at 20 USD, nobody thought it would trade below 8 USD... when BTC traded over 1000 USD nobody expected it to drop below 200USD... LTC was 40 USD its now below 4 USD... There is no sure thing |
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FOMO'ing a bit in FCT.
nowhere as much as i had before
Yes i missed the last dip below 0.0037 but i managed to catch 2 bounces, so...
No strong conviction the correction is over, still think the weekly bearish divergence is into play and see much lower prices,
but hey, i might be wrong, and in the long run i think FCT is cheap enough to put some chips in, after all, i got everything out over 0.005... so just taking a bit of that.
the latest fast daily declining trendline seems to be broken so a re-test of 0.0047 (pre-flash crash level) seems now possible to me, especially BTC is taking a breather
ready to change my mind any time.
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Factoid price is one man or one team show. They constantly play pump and dump and will continue doing so until M2 and until the price breaks out up big time. There s no point in analysing fundamentals, they will never allow for the price to go down significantly and all they re trying to catch is this ping pong interval of about 15% price difference.
So stop trying to FUD and overthink this, this tactics is so predictable. 5 year old kid would figure it out. Take a look the situation now, within a next week, the price will go up to 440 again.
I'm not making predictions about where its going next week. 440 maybe, 320 maybe. no conviction here. but I think you're not seeing straight. There is no particular conspiracy on Factom. Look at any major altcoin on Poloniex and look where it was trading at the highs last month, and where its trading now, and the vast majority is down by the same order of magnitude (or more !) than FCT. The vast majority of traders is long (by definition, somebody must hold those coins, and short interest is limited, and any short is sold to an extra long...) and the markdown in price is hurting, prompting traders for the exit, regardless of the (perceived) "cheapness" of this or that coin. I don't see many exceptions ETH, XRP, ETC, XMR, LSK, XEM, STEEM,... Prices going down means destroyed margin, a lot of those coins were used as collateral for margin trades. As prices go lower, you have a wealth effect, and people cannot buy as much as before with the same collateral.... it always takes a lot to reverse this dynamic. Its a bear market in Altcoins, and in bear markets, even what is cheap, gets even cheaper. There would be no exception for FCT, if this bear market is to continue, and unless there is a big game changer (M2 is not a game changer), the pain trade is down in price. The only cure to a bear market is lower prices where assets are so dirt cheap, (new) people buy again. In the current bearish environment, i think everyone should be prudent and not overleveraged/overinvested in anything, especially not an illiquid crypto-token. |
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well the support worked, congrats for those who played it
i didn't like the setup
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FCTBTC @ 0.00367 last as i write.
this is a very important support level which worked in the 3rd week of August, and at the beginning of the month...
normally it should hold at least one more time.
the problem is 4H or 1H chart are not oversold yet, daily not at all...
and its vacuum below that level, the only graphical supports 0.00306 the intraday lows from stop-hunting day, and 0.0025 next
So the risk/reward seems pretty low, i recently played twice a bounce for a trade, but i prefer to sit out this time.
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too expensive. those who bought at ICO at still handsomely winning.
Gnosis is a serious competitor and making its own ICO.
Even if Augur is a promising project, i think REP should trade down to something like 20M-25M usd market cap , so more than halve still from now... (to 0.004 btc).
I doubt Gnosis will raise 50M USD and both tokens will trade at a similar valuation i believe.
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i prefer to wait for the files to be available on nxt.org
i don't like downloading from an untrusted source
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When you open the wallet, it will show an alert in the upper right corner just click this and then choose to download the new 1.10.3 NXT wallet. This also solved the issue for me as well.
i cannot download 1.10.3 from nxt.org i can see only 1.10.2 |
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XMR (Monero) is much better value than ZCash...
I don't know when the market will realize it, but when it does, XMR will pop up hard. But it might be from a much lower price than now
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Grossbit - I am willing to take your (criminalish) Factom shares off your hands for the price you paid. Let me know the details and we can hook it up!
listen, i don't want to sell them, and even if i wanted i cannot, the custodian is bnktothefuture, and actually all i have to prove i'm the proud owner of those shares is a screenshot from their site and a vague email. its not a matter of price. Factom has a story the valuation is cheap, and at least you know these guys actually exist and you can meet and talk with them. Better than so many other projects around in crypto which are overpriced unicorns. Its a matter of principles. "At Factom, we make the world’s systems honest." The word honest is everywhere on their HP. I had hoped their actions were in line with their words. |
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Well, as it seems right now, your attempts to crush the market have failed and your shorting tactics will not present results.
I m not a really good trader but as it seems neither you re. Still, I wish you best of luck and lots of profits in and out of Factom.
I never BS, my last 2 trades are FCT long, still long from 0.00386 as posted previously. i never short any crypto, be it FCT or anything else. Nor do i use leverage. (btw shorting involves margin and leverage). I present facts, you guys only make imaginary statements about what I'm doing. LOL, you live in your own fantasy world. yes. my post have meaningful value. Those who realized their mistake in time when i posted had a chance to sell over 0.0045 and buy back at 0.0037 again. They may be silent here but i received thank you emails for that, and did profit myself :-) very short term, i see FCT going to 0.0044 in the next few hours. We have a bullish MACD cross, might be bullish for a at least 10 Days. but i think its not a straight line and there will be opportunities to sell on strength / rebuy the dips... well if it goes up straight up i don't mind as well. resistance levels: 0.0044, then 0.0047 should be strong resistance (pre-flash crash level), support level 0.00400. When/ IF 0.0047 taken out 0.0052 next strong level, above is uncharted territory as we would make higher highs. sticking to my main scenario of a re-dump after M2, but ready to change my stance... |
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GrossBit amuck on Reddit again. Voting link above ... I don't particularly like his attitude, but I don't think your "discussion" could get any lower: "go downvote a poster I don't like on another website." It's a shame, I'd say this is worse than his FUD posts... His posts constantly derail discussion and cause misinformation to be spread among people looking to actually learn something about Factom. It's not about "not liking him." But you're right, probably shouldn't have voiced my frustration in that way ... So your counterargument is to stoop below his level? 1. There is an ignore button. 2. I thought you hated a straw man argument that you are employing yourself right now. 3. I don't know if this board is moderated at all, but such posts deserve immediate deletion. You are asking people to downvote his posts someplace else. How old are you? 5? I'd probably feel worse if every one of your comments on this post, except 1, weren't lashing out at someone ... Anyone who's read this thread knows how far counterarguments with him get. But as I said, I probably shouldn't have voiced my frustration by pointing to another user's post. I'm not going to have a draw-out discussion with you about this, much as I'm starting to think you'd like that ... Also, you don't understand what a "straw man" is. The last thing I want is flame wars. Hence my posts. One thing is seeing a basher/troll/shorter fighting a few fanboys with arguments, however absurd. Another is seeing all of you enticing personal attacks and spillover to other sources of information. And this is supposedly the best news source for all the new people coming to Factom? Please keep calm and civilized, however annoying sometimes it may be. You're not seeing well. I'm not a shorter (i NEVER short crypto) and actually i'm long FCT. Yet, I'm not removing any of my word, If you read the whole discussion you will find evidence that bnkofthefuture misrepresented to the 158 investors in Factom A-shares equity sale the amount of funds raised, overstating it by 1 million USD (5M instead of 4M, we're talking 25% of the offer) I posted screenshots of that. If you are interested you will find it by yourself. Those 158 investors (and I'm one of those) had the big surprise of learning the sad truth through the press , with a dubious timing on top of that. There has been no apologies from either bnktothefuture nor from Factom at all, despite that misrepresentation is a CRIMINAL offense. After that episode, my trust into Factom's team has gone down several levels. However given the relative cheap valuations and the economic outlook, I'm long FCT again (sold over 500 my stash bought at 250) but i'm nowhere willing to risk as much as i used to, and i will stay vigilant. I don't want to shoot myself in the foot, as an investor, thats not my interest. but if i wasn't invested anymore in Factom, maybe i would file a complaint to the SEC. Maybe those involved would take things more seriously from there, they act as if nothing happened... its a major fuckup to me. |
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I'm not mixing. I'm just saying CT is BS; and there's little to rejoice from a CT article
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the last blockchain that CoinTelegraph hyped was razormind's DeOS and it turned out to be a scam....
a favourable article for Factom in CT is more a warning sign than anything else...
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So, if there's more selling, the market will go lower. Unless there's more buying, in which case it will go higher. Thank God you are here to steer us in the right direction!
FWIW, I'm waiting on the sidelines until there's a bit of good news, maybe the testnet, then I'll increase my position.
sometimes in trading, its better not to trade. Patience is a virtue. |
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