so this means cheap coins for everyone looking into longer term investing
more good news please
Pretty much, it will continue to fall because no one knows when the 130 odd BTC of coins will be dumped and no one wants to pay a large amount more for coins than they could otherwise get them for. Similar thing happened with PANDA coin - Wolong dumped the premine which filled every order on the book - people were furious that there order at 10 sat was filled and others ecstatic to have there orders at 1 filled - ended up killing the coin so hope whoever has the coins doesn't do that. Please calm down. You cannot compare what happened to Panda with this current situation. Panda was a scam from the start and everyone involved with that project always intended on dumping their coins. If someone took 1.5 million BlackCoins, that means that person or persons believes BlackCoin is valuable. No competent hacker would risk stealing a coin that is worthless. Also, if this person or persons were to dump 1.5 million coins, yes it might temporarily drive the price down a bit, but that will allow more people to buy coins and eventually BlackCoin will rebound. If the coins are truly gone, getting hysterical will not fix the situation. |
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We just have to look at what businesses have successfully been built around cryptocurrencies and build them for blackcoin. This infrastructure would help our currency stay stable and make it viable for commerce. Such as payment (like bitpay), gambling (poker sites, etc), exchanges, hosting companies, etc. Services like these will go a long way to in securing our slow rise.
If you decide to move forward with the exchange, how long do you estimate before you can do some beta testing? |
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Bitcoin wouldn't be worth that much without press. Positive and negative press, that's what got the wider investment community interested. BlackCoin is still too young for that kind of press. No twitter hype and no forum con is going to convince Business Week to write an article about BlackCoin. The only thing that will give it that exposure is slow, steady growth and hammering home the fundamental fact that it's a PoS coin, it's a blackhole for the other alts, and it's no longer being minted. Those are the things that make it an attractive alternative to BTC as a store of value. If you add to that more exchanges and more merchants, anything is possible.
"Hype" is a relative thing. Hype among alt-coin speculators is just a quick boom followed by a quicker bust. Hype among mainstream investors requires a lot more diligence and time. I'm not against the latter kind of hype, provided that it's justified. I just don't want to see the former destroy the currency before it has a chance to bring in more merchants and a more stable base.
All I'm saying is that the mechanics of this coin are too good to be wasted on a P&D. If they are, another coin will arise with the same mechanics as BlackCoin, or something very similar; but if expectations are managed well right now, and the focus is on growing an economy rather than what happens by the end of the week, then our effort won't have been in vain.
I agree with most of what you wrote. However, what kills most coins has less to due with P&D, clones, or even over hyping. Most coins die because the developers are teenagers in a foreign country trying to make quick money and know very little about development. They have no interest in supporting the coin long term, and when the coin reaches a predetermined level they cash out. So I do not believe that BlackCoin will die because someone in a forum or Twitter over hypes it. |
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$5 in 6 months? That would mean marketcap is $400 million. That's the LTC market cap. Not impossible, but as much as I love this Blackcoin, I don't see that happening. That would mean faster growth then even BTC and I think that time is gone.
One word: Auroracoin Look. There are hundreds of crypto currencies. About 90% of them are laughable jokes (marscoin) or absurd appeals to a small market within a small market (spaincoin). About 10% are actually attempts to reengineer the nature of what Satoshi did (NXT). The 90% will fail. Of the 10%, the ones that succeed will be the ones that keep it simple and strike a transparent, equitable balance between private holdings and wide distribution, and between inflation and deflation. OF THOSE, BlackCoin is the only one that appears to have the community, plan and infrastructure to actually make it so.
That, friends, is how we came to the decision to start accepting BlackCoin. What happens overnight or next week is irrelevant. You need more merchants, more casinos, more people storing their value in the currency; and I'm telling you that if you are concerned with overnight prices and pumping or dumping, you are missing the larger point. BlackCoin -- if it isn't wrecked by mischief and speculation -- has the potential to eclipse Lightcoin by the end of the year. I genuinely believe that. Stop trying to tout it as a casino. That's what other alts are for. This is something different. If you narrow down all the possibilities by the criteria I outlined above, you'll see this is an amazing investment, not something you should be trying to hype for a short-term profit. Simple as that.
Without hype no coin can survive. Bitcoin wouldn't be worth $580.00+ without hype. Dogecoin wouldn't be where it is without hype. Yes you need all of the above as well, but without hype no one knows it exists. It goes hand in hand. Also, not everyone is here for the same reason. I will support the community as much as I can to see the coin succeed, but lets be realistic here. We ARE ALL here to make money. |
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You guys are crazy given the market cap. It's at $0.04 now. In 6 months to 12 months, I'd say $0.50-$1. In 2 years, $3-$5. We have 3x as many BTC in our market cap, so our jump should not be so crazy.
With all the pumps and dumps BC has a steady upward projection. All you have to do is match BlackCoin's growth with other similar AltCoins growth and you can reasonably predict where the coin will be in 6 months. In about a 4 to 7 weeks it will be at $1.00, and in 6 months we will be around $5, you can hold me to that. There is always the chance it can explode over night, that has happened to other coins before. But based on the current growth we will be at $1.00 soon. It will be at $1.00 even quicker if people would stop selling BlackCoin at reduced prices as if they are selling MintCoin  |
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You have to account that bc is still "unknown". Once the big players of the LTC and BTC world realize the potential and the threat that blackcoin is it will explode.
There is probably less then 20k people that know what blackcoin is. possibly less then 10k. What happens when that number is 200k? 2 million?
Blackcoin is stable enough to survive primetime like litecoin and dogecoin before it.
I agree with you 100% that BlackCoin will take off, there is no doubt in my mind. BlackCoin is the first coin since Bitcoin I have not just dumped after several weeks. Actually, I have sold off all my Bitcoins and purchased BlackCoin. That being said, I just do not see $200 in 1 year. I hope you are right, I think we all are, because anyone with 5000 or more BlackCoins will become a millionaire @ $200 a coin. |
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any prediction on price within the next 6-12 months?
1 USD edit: if all goes well 6 months 10$ in 12 months 200$ I am as optimistic as the next guy, but do you really think BlackCoin will reach $10 in 6 months and in 12 months reach $200? Besides 42 Coin and Bitcoin, no other coin has come close to $200 per coin. I think $10.00 in 12 months is more realistic, unless you know something I do not know? |
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Heads up; BC will be listed on Cryptsy on March 28th  Ouch...that might not be such a good idea. I was hoping BC would stay away from Cryptsy. I have witnessed dozens of coins that are doing fine before being listed on Cryptsy, die a slow death after being listed. |
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I noticed something alarming:
The price of BC directly depends on one multipool being on. When BCmultipool is down, BC goes down, even if there are others multipool available (check what happened today between 15 and 16h30 GMT). This gives these guys at BCmultipool an insane amount of power. They could orchestrate a shutdown, get the money and stat the pool again.
I am concerned.
Well we should build out infrastructure so it is easy for other multipools to form and make it easier to trade into BC. This would diversify and strengthen the currency. +1 I agree with both of you. |
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The feedback is helpful. Thank you.
My Have a BS in computer science and recently completed a Masters. I understand the risks involved, I have been building this code for over a year. This isn't a patch job, it is something I have been working on a long time and was planning to open an Alt-coin exchange but I think this might be more interesting.
I would like to find a mining pool to partner with from the beginning but it might be easier to start my own at least to start.
As long as you know the risks and the amount of time involved it takes running the exchange then you should go for it! I am sure the community would support you, I know I would. BC would benefit greatly from a dedicated exchange that allow BC to be traded against other currencies. |
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Some help about minting please.
I have my wallet open. I have entered the command "walletpassphrase <yourpassword> 999999 true". The little padlock icon is open and the pop-up note says "Wallet is encrypted and currently unlocked". When I move the cursor over the green up-arrow icon the pop-up reads "Staking. Your weight is 16447. Network weight is 18115819. Expected time to earn reward is 18 hours."
Does this mean I need to leave my wallet unlocked for 18 hours to get the coins?
Why is he/she a liar or a moron? I just jumped in and bought 2000 more BC, and if the price drops to 6000 sat I will buy another 4000 BC. Anyone that really know about AltCoins know this coin will be worth $5-$8 before the end of the year. So I just spent roughly $100 USD on 2000 BC and in about 9 months those 2000 BC will probably be worth $10,000. |
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I have a lot of the code finished, and have been writing test code for it. If there is enough interest I might be able to start with a few currencies to test the waters. Otherwise I could always hold back and create complementary mining pool software go alongside it.
There will definitely be interest. However, I must point out the obvious. Starting an exchange is a huge undertaking, the security issues alone is a nightmare. I have been a software engineer for over 10 years and I have worked on everything you can imagine, and I would be very hesitant to create an exchange because of the numerous headaches. But I do believe something like this would take BC to the next level. People would look at BC totally different if it was traded against other AltCoins. Another option is to convince one of the established exchanges to implement this. |
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+1 to everything Iconic said plus one thing (that he said last time)
Don't buy everything at once. Divide up your btc in small increments to keep the rise going. One massive buy will shorten the spike, whilst several small buy orders will lenghten it.
Sure, you will lose some satoshi (or hundred of satoshi, at present rate) in the short term. But in the long run, you help everyone (you included) getting even more money.
Iconic, please confirm I understood correctly.
Yes you understood correctly . When someone puts up a sell order for 4 BTC it slows the momentum down, and often cause the price to retract. |
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I'm thinking about starting the first exchange that uses blackcoin as the primary coin of exchange. The code I have been working on would be similar to mintpal.
For example we would have:
BC <-> BTC
BC <-> LTC
BC <-> PPC
BC <-> DOGE
etc...
This would allow multipool exchange operators to directly exchange into blackcoin making it cheaper and easier for everyone. We could even do trading discounts on targeted currencies.
How much interest is there in this idea? I love the idea of a blackhole currency that absorbs weaker altcoins.
I wrote about this exact thing a few pages ago. This is what BC needs to set itself apart from other AltCoins. It would be nice if we could convince Mintpal to do this, like they did with LTC. It will make BC value explode overnight. But unfortunately BC is not proven yet and I think you would have to create the exchange for this to happen. |
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Someone bought 3 BC @ 0.08000000, that is roughly $135.00 USD. I am assuming this person is not a complete moron and expects to make a profit on the 3 BC. So this buyer must believe that BC is going to go well above 0.08000000, which is much higher than any reasonable prediction. I would have thought it was just a mistake/anomaly, but the previous trades before that were also much higher than the trading price on Mintpal. People with over 10k BC I strongly suggest you hold and not sell, I have a funny feeling the price is about to explode.
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That my friends it is called market manipulation!!! Cryptorush halted the Blackcoin Market and blocked any transactions to do their inside job on the orders!!! Basically we can't see any coins in our balance because they are playing with our coins that are with open orders and now they are claiming that they need to update the wallet but are waiting for Cryptorush Dev's to wake up (come online). Another joy day at Cryptorush!!! Last one I had so much fun to watch was the Zeitcoin responsability shakeoff from Cryptorush to Zeitcoin team and vice-versa and we are stll sucking on our thumb waiting for the coins  I have seen dozens of pumps and dumps, and markets manipulated in both directions. I have never seen anyone take the value up that much in one trade, that doesn't make sense. This order seems legit: for Mar 24, 2014, 5:35 am EDT Bought from Seller 1,000.00000000 0.00050000 0.50000000. I think everyone selling on Mintpal should start testing higher sell walls, there might be buyers willing to pay. |
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WOW..cryptorush is out of control!!! There are more buy orders than sell orders and the prices are simply INSANE. The last sell order was for 0.08000000 sat, and before that order it was 0.04001720. Someone is testing if BC would trade at that level. It would be nice if it would stay at that level, everyone here would have an early Christmas, but unfortunately it wont  .
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Sigh... we would have been well above 10k sat if it wasn't for some people who cannot grasp the concept of trading. I know I keep repeating myself, and I apologize in advance to the more knowledgeable traders. Please stop selling for lower than the last sell order! This is NOT a pump and dump, and there is currently high demand for BlackCoin. You are only cheating yourself if you reduce your price just to make a quick sale. Will waiting an extra 10 - 20 minutes really going to make a difference? Just set your sell order(s) a few sat higher than the last price and have a little patience. I promise it will be sold within several minutes. We can easily take this to 20k sat in the next week if we use some common sense when selling.
I do not have a clue when this current wave of buying is going to stop, but by looking at the volume and buy orders it is not going to stop anytime soon.
If you are on the sideline and you think you have missed the chance to buy BlackCoin you are wrong. Even at 9000 sat BlackCoin is a good buy. BlackCoin is on track to be worth $1 USD in several weeks. This is not wishful thinking but I am basing this on some key factors.
1.) The coin was fairly distributed.
2.) We have an active developer that didn't dump a bunch of his coins and vanished.
3.) The developer actually knows what he is doing which gives everyone confidence in the coin.
4.) We have a very passionate community that is growing steadily every day.
The last piece in this puzzle is we need to break away completely from BTC. BTC value is slowly going down and with it, it is bring down the value of the rest of the alt coins. We still have to convert BC to BTC before converting to Fiat.
A.) We need a BC to Fiat exchange.
B.) As BC becomes more valuable we need to convince Mintpal to give BC it's own pair with other coins.
I know most people think BTC is the gold standard, but why? BTC is not fundamentally better than BlackCoin, and just because it has been around longer doesn't mean it is better. If we really want to see BC be on the same level of BTC or surpass it, we first have to break away from it.
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Should I sell (and buy back more later) or hold??
Hold... |
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I wish exchanges would universally adopt limitations on the minimum sat you can sell a coin below current market price. Example: If a coin is currently selling at 0.00005900, the lowest one can sell their coin is 0.00005899. And for someone to sell at 0.00005898, a coin first has to sell at 0.00005899. Also a minimum low price hold would also combat random dumping. Example: If a coin is currently selling at 0.00005900, then it has to stay at that lowest price for x amount of seconds or even minutes before it can be sold lower. Of course it can sell higher, but by putting a hold on the lowest price it will slow down the rate of dumps.
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