You really need to think seriously about whether you believe this coin, given the way the devs act and "deliver", will ever be able to rise above the sea of coins, many of which are as good or better.  Compare the price of similar coins and decide whether the current price of Cloak is too high, too low or where it should be.    Ask yourself if you want to have your capital sitting there doing nothing on the "hope" it might one day at least break even.  Ask yourself what you could do with that capital over the next couple months in order to start recovering your loss.  In other words, use your brain, not emotions.

Come on, dump more people.  Just ONCE I'd like to get in one of those double your money situations.  lol

Need more fud and panic in here, gotta get cheap coins.

Can you guys dump more.  I was too slow putting in my low ball orders.  

Looking at the graph for XMR, this seems to be a trend for it with very large swings over the course of a few weeks.  It was a lot lower a few weeks ago and seems to happen anytime it gets up to the 0.005 mark.

It was actually your own greed that screwed you.  Here's a clue as to how you messed up.

Here's how I looked at the coin when I first caught wind of it.  First off, with a ticker like LSD, there's no way it would ever go anywhere.  Not with that "subtle" tie to drugs.  Sorry, but that's a reality just like all these coins like TIT, XXX, SEX, CANN etc.  They're only good for a quick profit on the initial pump and maybe, if they survive, some minor profit on the inevitable swings in price.

I then looked at c-cex to see how it was trading.  It started at 8k-10k (too high) and shot way up. When it opened on Bittrex, it was still somewhere around 30k.  It was FAR too high given the coin is nothing and would be nothing.  It was primed for a dump at any second and so there was absolutely no point to buy any.  It was dead right then and there.  Notice that when it was dumped it was dumped back down to around 10k?  That's a typical pattern for all these types of coins.  On any of these sorts of coins, if you decide to buy into the initial pump, you need to determine a opening "floor" before hand and then get out before it reaches 2x that point as that's often when they get dumped.  Anything more than that and you're being greedy and will most likely end up losing.

What you really need to learn from this is the reality of what most of these coins are for and what their typical "life span" is like.  You need to spend the time learning how these markets play out before you start putting any money into them.

Well yeah, it was pretty obvious he would offer a service at some point. lol


Oh I don't know.  I looked at a number of his trades as well and they were very realistic given what he said about how he made them.  Last week didn't go well for me, made a few good trades but more bad ones. More often than not, I missed a good exit point.  So today I've changed my tactics, really studied the charts more and used alerts like crazy.  So far, 3 trades with a profit of 6.8%-11% each.  Plus I got another 21.8% on a speculative play from Friday. No losses yet today and now I'm currently in profit.

The main reason things are going better today is that I set more realistic expectations for my current skill level.  I also spotted a trend on one particular coin and have done 2 successful trades so far with another in the works that, if it goes as I believe it will, will net me another 17% but it's already in a marginal gain so I could sell at any point. I also think I've spotted a trend on another coin as well which I'll confirm tomorrow.

The one tool I'm missing though is some sort of volume alert. Gonna have to see about coding something maybe.

I still say someone is purposely keeping this coin around the 9k mark.  If the next big thing for the coin is mid October, then I would think it will be another 2 weeks of this before they let it go up "somewhat" and then hold again for StealthSend.

When I first noticed it, there was a 110 BTC buy wall on Bter being walked up as the price rose.  It was slowly getting eaten away and it was removed either just before or just after the dump started.  I think it got placed back at 63 and then got split into 2 of about 17 BTC as that's what was left.  Someone must really believe it's going higher again to have invested that much.

It's not dead that's for sure as it has a hell of a lot of volume on Bter and Cryptsy.  When I started trading a few weeks ago I was doing some minor get my feet wet trades in Doge and then it started dropping.  Had some at 35 and then more at 23.  I figured its drop was mostly due to summer and it would rebound starting in Sept.  Looks like I was right and so made a nice profit on it.

So Bob said he thought the new floor (maybe he meant ceiling lol) was about 9k.  Twice now when it's been over 9k, it's been dumped way down so it has to climb back up.  There was a 40BTC sell wall at 9200 for a bit.  Guess they want things to move up on their time table and are saying "Don't go above 9200 until I tell you to".  lol

oldboy11 - September 04, 2014, 11:28:42 PM - "blocks : 90"

lightspeedLS - September 04, 2014, 11:39:00 PM - "COntacting pool operators now, solo mine is so hard now !!"

lightspeedLS - September 05, 2014, 12:15:54 AM - "Need pool now! Willing to pay btc bounty. Cannot solo mine anymore and was going to use mined coins to help build community. Pls help"

gr1mly - September 05, 2014, 12:16:57 AM - "Dev has contacted me to get a pool online. Working on it now, will update when it's ready."

lightspeedLS - September 05, 2014, 12:28:56 AM - "Pool is live, thank u delltop http://lsd.poolc.net"


90 blocks mined (first 66 were to that wallet address out of the gate) and the dev is saying he's mining solo and he's calling for pools to help.  gr1mly (new account) has http://lsd.bitops.me in his sig.  Yet the first block mined was with that Wallet address with massive mining hash going on given it ended up with 250k coins.  So yeah looks like a bit of deception going on there if that address is for bitops.me

You sure about that?  Cause they were mining from block 1 and what I find interesting is that the dev said he was mining solo at the start and was posting for pools to get involved.

So who are they?  A "reputable" pool or actually part of some of these launch, rape mine and dump operations.

The "devs" that come out with these fast release coins simply fork existing code, change the name of it, modify the reward structure and maybe a few other minor things and then launch it.  There was a reference to Zerocoin in the source so that was the coin it was forked from.

It was 250k coins in a week and they mined the first 66 blocks (5280 coins) solo before others finally got in.  Plus if you read the first few pages you'll see there was massive hash going on most likely in a private pool.  I posted the wallet address if you had cared to actually check it out.

The lesson here,  besides having people actually check over the code, is that people need to watch the blockchain to spot that sort of mining going on.

I get what you're saying, but those that know the code know that that value doesn't matter. And as I said, 910k is POW. Then you have POS on top of that over X years and variable staking.  So how could one actually set that to a "real" number.  i.e. If all 910k coins were staking @ 3% per year, it would overflow that 1500000 in roughly 15 years.  So you can't really set that too low.

That doesn't matter as it's only used as a boundary check and the majority of devs that fork others code are too lazy to change that.  Plus, I think it would mess things up due to POS. i.e. if that was set at 900000, then POS coins would probably not be generated and since you don't really know how many would be generated, you can't really set that to a "real" number.

The actual proof of work code determines how many coins are generated.

The code says it should be about 910,000 actually.  Most devs are too lazy to actually calculate out the exact number.  Plus with POS active it will be a bit more than that.

What drugs are you on man child?  They're not doing you any good.

I think it's an ok time to buy in given all the investors pump & dumpers that are still hyping it. You hear talk of 20k, 30k, 40k, 50k.  My personal feeling is that it could still dump to around 5k before finally climbing steadily. Where it will end up I don't have a clue but wouldn't be surprised if it hits a floor of 20k after a pump much higher.  But hey.  This is Crypto and we all frantically rub our crystal balls in the hopes of making billions.