Am I right that the Bitstamp ask walls have not been tested?  It is tough to believe that there are 3000 coins to 600.


Edit: looks like we tested yesterday.

The devs are getting a lesson in economics 101. As soon as the light goes on (after all the warnings and advice), things will turn around. It is up to the devs to wake up and smell the roses and deploy the emergency parachute if it is not too late already - the closer the airplane speeds to the mountain the more difficult it gets to swerve away from it. Then things can carry on as they were. At these low prices the effect of gearing also becomes a big problem, but to overcome that is is economics 102. Lets first get economics 101 sorted. However, let me give you a hint of whats to come in economics 102 - at low prices gearing causes a lot of 100% profit situations very easily, this means that buyers at these prices can make a lot of profit very quickly which is a big incentive to dump. It becomes very difficult to break away once under 1000 sats and the lower it goes the more difficult it gets. A change from 300 to 600 happens much more easy and quickly than a change of 30,000 to 60,000. A price range moving between 30,000-40,000 is a much more stable environment to carry on with the long term development work and easier to contain than a price range of 300-1000. A coin <1000 sats also becomes highly susceptible to manipulation. Lets not get ahead of ourselves though and let the devs first do their economics 101 homework. With enough luck it wont be necessary for the economics 102 class.

What is the essence of economics 101 in the context of crypto? You give the market what it wants (even if you don't agree with it) to maintain a high price and stable environment in which you can develop that which the market does not yet know it wants. You keep adding or adapting to what the market wants whatever that is and at some point the market will realise it wants the main feature you have been developing and then the first features become redundant. Each adaptation might take a week to do but might buy you a another 3-4 precious weeks of time to develop the main feature. The frequency of adaptation also depends on how long the current hot feature takes to wear off and a new fad hits the market. It is like  a rocket leaving the atmosphere - the first big gas tanks are just there to break away from the earth's gravity and once the rocket is in space the tanks can be dropped and the rocket's own engines kick in. You cannot expect a rocket to break free of gravity with its own engines. Lets hope the devs can land the rocket upright, attach the big gas tanks and let it take off again and this time it will deliver its precious payload in space.

Minerals is one of only a few coins with a solid real life use case and enormous potential. However, it is not possible to get to that desirable destination with an empty or no gas tank, under powered engine or without the necessary support.

lol you should add under 8000 also.

Team mostly went off for a weekend. We still debating on anonymity. This takes too much time imo.

Very True. Litecoin is at 0.012 again, it's price is getting lower and lower, can't be sustained.

I see it as the new 100!

I will sell when bitcoin drop to $200 or rise to $2000....

The problem is, went is the next bubble? I have been waiting since few months back...

did you go from uber-bear to uber-troll?

We're really at an interesting spot right now. The price has been sort of pinned to $600 due to the government sale, yet it does look kind of weak right now. Is a retrace back to the $450 range of a couple months ago possible? Maybe. I don't think it will ever go below the $400 range ever again, though.