Blackcoin = A perfect way of losing 66% of my initial investment....
BTC & altcoin down. |
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Very sexy slow teasing uptrend.  |
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damn the whole market is one big bloodbath panic and despair everywhere you look, BC, VRC, CLOAK, you name it i'm just waiting for that magical "summertime" to end and see if _anything_ rebounds entertaining times indeed You know what they say: buy when there is blood on the streets!  Well, if this isn't the blood in the streets phase yet, I'm afraid of what that will look like. I only wish I waited till this point to start investing, but I thought last February was a good time to start. So I did some nice whale feeding unfortunately... So of the blood that is currently running through the streets, a nice puddle of it is mine ! If this is indeed mainly a summer recession, nice profits can be made by people who are entering the market at this point. I'm already full in, so holding some pretty empty bags. Ah well...who knows what happens next month. I'll just hodl on Looking at this chart http://coinmarketcap.com/, we are doing pretty good. There's only 1-2 coins who are possibly doing better than us right now in terms of surviving. You could point out that we lost a higher % than other coins, but I also think we're in best position to get it back. |
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lol your forgot LTC  Oh right. I knew I was forgetting something! |
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damn the whole market is one big bloodbath panic and despair everywhere you look, BC, VRC, CLOAK, you name it i'm just waiting for that magical "summertime" to end and see if _anything_ rebounds entertaining times indeed I like how you name mid cap coins but no DRK, NXT, DOGE and PCC. I think those altcoins in the $1 to $10 mil range have a higher chance of recovering after this than those higher.  BC needs to hold 9K for 48 hours to reverse the downtrend. |
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You have a lot of BC! |
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you can say weak hands as mach as you want, but the price is dumping too hard to be just a fault of weak hands.
Volumes seems to be for distribution and not accumulation, so people is just dumping. I just wonder why.
News and news over this coin, I can't just believe that people are selling so bad!
We are looking for our 2nd or 3rd rise, pump, whatever you want to call it. Look at NXT and PCC. You think they just rolled over and gave up? I bet they are struggling hard to regain lost market value just like us. It's an incredibly tough job to remain on top day after day for an altcoin. News and news might not do it. It might require news and news and a little luck. |
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once more good news while the dumpers dump:
and like all other "good news" before, the market doesn't care it seems And? the persons who agreed to do business with BC give a shit about the "market", as it seems. As most of us do. The current price is made by a handful of people and bots on three little exchanges, who cares about them and their games? I care. Actually this is the most buying activity in the last few weeks it seems. Very good sign. |
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How do you explain such a downtrend with almost no inflation where multipools actually help the price?
Which multipools exactly help the price? At the current moment no one I know. blackcoinpool.com is not paying out for the whole weekend cryptsy API is still fucked up since the last maintenance (they have experience in fucking things up). And noone cares. Who mines on those anyway anymore? Why would you when the price only goes down. And the volume on exchanges means they are only slowly dumping, It makes more sense to mine when the price is low since you get more coins per MH. And at their current rate, they should do 2-3 BTC/day, what would be enough to rise BC price by 2000 satoshi. Mintpal does maybe 80% of BC volume averaging 70 BTC/day... So a pool that generates 2-3 BTC/day will have near zero effect. It's not a BC problem... There has been a general selloff in alts for the last month... A lot of quality coins are down 50%... some like VTC and MYR are down 80-90%. Also, traders (who price coins)... No longer care about stuff Devs are "working on"... Unless it's released... and working... and being widely used... it doesn't matter anymore. That said... there will be a BIG rally in Alts soon enough. MP hasn't been averaging 70 BTC/day for the last week. I don't know how much effect the pool will have. But someone has to put in some market buy orders to increase the price. The altcoin market cap has dropped 25% in the last 2 months. People still care what Devs are "working on" - Cloakcoin hit 200K in the last few days with no releases then dropped back to 130K. I also am hoping for a big rally. But this is really surprising at the lost of confidence in altcoins. |
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I must admit that i've been holding since around 7k sat all the way upto the peak-then all the way back down again. My own stupid fault for being naive thinking it will go up and up forever. I lost the chance to take a clean £2300. Now i've just today sold all my BC and lost £40. I see this as a lesson learned in the world of crypto, and that is, no matter how promising the developer is, no matter how much hype it gets or media attention, or innovation- things can go very wrong for a coin in a short amount of time. I wish you blackcoiners luck in your venture, and i will be back on the blackcoin WHEN not IF the train starts to move again, but for now, bagholding is no fun, i need some excitement back in crypto. The sort of excitement i got when we struggled to pass 10ksats and it shot up to an ATH.
This is true. However they can also go very right. I'm not saying that will happen tomorrow or anytime near the future or even BC, but a movement can gain momentum that completely shifts the crypto dynamic when no one is expecting it. |
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I would take your BTC from selling off BC and buy some DRK. They have a big coin update coming this week and the price is going to jump a bit. I am doing this and plan on buying some BC with the profits since its so low. I hear so much about BC devs not being active enough. I think thats crazy. I follow the altcoin world closely and BC is always being mentioned somewhere. Hell it just had an article on Coindesk the other day.
And I was wondering why everybody is buying DRK like crazy! Not a single SELL order in hours! Somebody should give this man a prize! PS: So, is bullshit acceptable in here as long as it is accompanied by hype for BC? Bullshit? I was responding to the person whom I quoted in my post. He said he ALREADY SOLD HIS BC. A quote you curiously chose not to include in your post. So who is really bullshitting??? I gave him or anyone else that cares a potential tip if you have some BTC and what my plans are if I get some profits from following it. Is that bullshit? I don't think you know what bullshit means kid. And what hype? Simply saying BC devs are active and seeing BC news is considered hype? Maybe you don't know what hype means too. Also, what do you mean not a single sell order in hours? Who the hell mentioned sell orders? Do you live under powerlines? Some day also you will realize, that rumors, news and announcement mean nothing in the cryptoworld. BC had one good news after another and the price was going down, same happened with XC, and I expect it to follow the path of BC very soon. DRK is struggling to beat LTC-price, after it peaked a bit over 1 LTC for a short time but never went through again. Cryptomarkets are completely random and chaotic, it's impossible to predict and make promises. Only thing you can do is BUY when it goes cheap and SELL when it goes expensive. DRK is also extremely risky now with RZR, CLK, XC, VRC, MNR and a bunch of other Bittrex coins right behind them. BTC looks the safest now. But that could all change instantly. |
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I know everyone hates me saying this, but LTC, NXT, DRK, PCC, DOGE are also at ATL or 30 day Lows.
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Sorry I am new to Blackcoin. I have a question. Do you understand how Bit/Black Halo escrow works?
From Coindesk article:
"In order to enforce accountability between two parties that want to establish a contract, BitHalo requires proportional escrow deposits that act as a form of personal insurance...... Each party puts in an equal amount, making one side just accountable for the success as the other.
As David Zimbeck explained:
“Lets say you wanted to employ somebody at $30 an hour. Employees have been known to not work hard and have been known to flake and conversely in many cases, employers don’t pay and hold power over employees. So to solve this both employee and employer put up $60 in escrow (a joint account with two keys). Then the employer can pay on the hour or on the milestone for work completed. If either party tries to cheat the deal then they actually lose money.”
If I understand this correctly, if party A and party B make a contract, they both send coins into escrow. After the fulfillment of the contract, signature of both concerned parties (both A and B) is needed to release coins from escrow. If at least one party is unhappy with the fulfillment of the contract, such party can refuse to release coins from escrow. As a result, nobody receives coins from escrow, until both parties are happy and in agreement. Nobody has direct incentive to cheat.
If above is correct, then what if party A wants to harm party B and refuses to release escrowed coins? As a result, party A loses the same amount of coins as party B, but this is a cost which A is ready to pay for the benefit of harming B. Proportionate amount of money has disproportionate subjective value for different parties, by the way. For example a big corporate player can afford more to lose, not only because he's rich but also because he has a pool of contracts and these contracts cancel out each other, like in insurance, you win some, you lose some.
And party A might want to harm party B not only out of spite. Party A might seek some indirect profit, in relation to third parties (C, D etc), manipulate the market and so on?
Am I wrong in this? Or does Bit/Black Halo work differently, is it my misunderstanding?
Well, if you really want to harm someone with personal loss of money there is hardly something that can be done against it, whatever you do. In case of very large amounts you can execute the transaction in small chunks with always only a small escrow though, that drastically minimizes the risk once larger amounts come into play. Someone correct me if i am wrong, please! Smaller escrow means both parties have less protection against the bartering item and more incentive for the seller to not follow through. Of course this all depends on if there's Instant refunds allowed. Set up instant refunds. If you have no relation to someone, I don't see why they'd want to rip you off especially if it's 0 gain on their end. |
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Blackheart.com like the Marvel character! Kidding and probably already taken. When I have time to register will join in the fun. |
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And at end BC bag don’t hurt me so much as Doge or some bittrex shitcoins…
Doge? Anyone actually expect that coin to go up? -they spot all time those people. But such people can make their coin big. If want do something impossible let do it people who don't know that is impossible and they will do it... (It works from my experience in job...) But to be honest soon doge will be 5% inflation coin so will be like POS. And add to fact that Doge have more active wallets than ( XC +VRC+ RDD + PPC + BC + Quark + LTC + FTC ) http://bitinfocharts.com/comparison/activeaddresses-ltc-doge-xc-bc-rdd-qrk-zet-ftc.html- true coin indicator more than LTC with 10x more market cap... ( yea "Doge is dead" just give it time ) - so be smart when you troll Doge - hyper inflation is killing their price but not coin and distribution ( 170 000 + addresses with Doge ) those guys are active and are working around price is not value just wait till inflation part will be over. **** I like BC because it different coin it was 1st POS from POW part that is why i like it so much. BC started different economy model. Just seems like they've established themselves as a fun coin to trade, but not to hold. This coin has until Nov 2014 to go up again. If it doesn't go up in that time, I don't think it ever will. |
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And at end BC bag don’t hurt me so much as Doge or some bittrex shitcoins…
Doge? Anyone actually expect that coin to go up? |
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Bagholders has such a negative connotation.  Today has been good so far. The 12K floor is holding. On MintPal, we're the only coin with +% change. Still the #1 PoSI coin. What does POSI mean? PoSI - Point of Stake Inflation so this excludes NXT since it's not inflationary and PCC because that's hybrid. I came up with the term myself because I was tired of constantly arguing over #1 PoS* or writing 2-3 paragraphs why we're #1 in this category. |
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Army of bagholders I salute you! Soon this precious diamond shall shine! Bagholders has such a negative connotation. Today has been good so far. The 12K floor is holding. On MintPal, we're the only coin with +% change. Still the #1 PoSI coin.
If all goes well, and you give it a try you'll quickly realize we are a better exchange than MintPal. Hopefully the free trade rates will encourage you to at least give us a try.
We have launch our beta with a fully functioning API, we will release our open source trading bot for everyone to build on (and multipools to use). We can handle large very trade volumes with our new backend (being tested now with bots). The bot will come ready to connect and pull real time data from our API as well as other information information, and come stock with very basic trading strategies.
On the frontend we have made a good looking real-time live exchange page. The infrastructure we invested in allows us to show more orderbook data than MintPal offers. We also don't require javascript to make issue trades, which lets you trade quicker on slower connections.
We won't be adding flavor of the week clone coins to our exchange, we will focus on coins that add true innovation to the crypto ecosystem and maintain good trading volumes. We felt MintPal practice of ninja adding several direct clone coins of Blackcoin after BC succeeded did a lot of damage to our value for their own profit. We want to provide a quality exchange and we will select quality coins to be traded on it.
We have two market sections: The Bitcoin section which only features Blackcoin exchange currently, this is to make the transition to our exchange easier, providing values of 1 Blackcoin in Bitcoin as it is on other exchanges. The Blackcoin section currently allows you to trade against Litecoin and Darkcoin. We will be adding more as we progress through our beta mode but we want to make sure we maintain good volume on our initial exchanges so everyone can get a feel for how our system works.
On top of that we plan to reinvest our profit back into Blackcoin providing additional stability to the price, like an additional multipool. We will be transparent with our profit and how it is invested. As I said in previous announcements, I have been saving substantial bitcoins to purchase Blackcoins on my exchange.
We will provide proof of our reserves and work with the community to be transparent as possible. We have built sophisticated cold wallet storage to safely store any coin reserve that becomes too large.
And we have a great name (to be revealed with our beta launch).
Patiently awaiting What about coinmarketcap? Have you talked to them? Will they list your exchange? How will they react to no transaction fees? |
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