Just transferred my meager holdings to Cryptsy.  Wonder how long Cryptsy will take to confirm lol.  Gonna post some very high sell orders

Whoa whoa whoa...WTF?  Check out the name AND the logo!  Imitation may be flattery but this is pretty damn close.

https://bitcointalk.org/index.php?topic=485846.0
"[ANN] [COIN] Coin is what you want! Coin is what you need! Start mining NOW!"

The fact that the devs haven't booted your ass off the thread for good is a testament to their patience and grace.  I would have eighty sixed you days and days ago.  You're dizzily positive, then manically negative, and you bounce back and forth between them like Atlantis on bath salts.  

G T F O

Well said, especially the part I bolded.

LOL +1

Crypto forums have been a revelation to me.  I've been in online discussions and forums since the days of the bbs and Archie clients - tech forums, hobby forums, tons of game forums, this forum, that forum and I swear I've never seen anything like this.

You get this crazy, volatile mix of a bunch of people inexperienced in any sort of investing, a bunch inexperienced in cryptocurrency, a few people very experienced in one or both, some pretty poor manipulators (and a couple of pretty good ones), and a few trolls.  Then, for the real fun, you add in a whole lot of greed and fear and mania and you end up with this crazy, scattered herd stampeding everywhere and nowhere at the same time.  It's pretty entertaining. 

Did I have a point?  Oh yeah...

In case nobody noticed, the entire crypto market is moving sideways at best.  BTC is below 600 usd and everything else is adjusting to that pricing.  Period.  Most other alts are in the same boat, and those that aren't right now either have been or will be.  The market is doing what the market does - working.  Some will rise, some will fall, some will survive and some will not and that's the way it works in every market - stocks, commodities, currencies, etc. 

As I've stated before, I think SMC is better than the average coin out there and I intend to give it the chance to succeed and help if I can.  So for me, I buy what I can afford, mine, and hold on to my fairly small stash.  But I'm not trying to convince anyone to hold on to SmartCoin if they don't want to.  If you think the time is good to sell, then sell and vaya con dios.  Just do it with less drama 

Hahaha!  Thanks for the vote of confidence but I'd never be able to dedicate the amount of time required and still keep my job, hahahahah.  Besides, I'm no guru of social media.  Hell, I still think Twitter is about the dumbest thing to happen to tech in 10 years  

On another note, I just found this site: http://liteshack.com/

Scroll down a bit and look at the hashrates for the scrypt alt coins.  We're in the upper third of all of them, which is great.  If we doubled our mining, we'd bash our way comfortably inside the top 10.  That would go a long way towards increasing our exposure as well as hopefully stabilizing the markets a bit.  Plus, the rising hashrate would attract more miners which would add to our ranks.  That should be one of our goals - double our hashrate.

If everyone who is already mining SMC could dedicate some more khs or mhs that would be great.  And if everybody who isn't mining could start or at least throw a worker or 2 into one of the pools that would be even better.

Let's hash and bash!

It'll be just like shake and bake but without race cars and Will Ferrell!  http://www.youtube.com/watch?v=vjNLsXwU790    

Umm, yeah what news?

Sorry, couldn't resist adding another word to the beginning of the question

Thanks for the kind words, all.  I'm glad you like what I wrote - it's what I believe.

If you have the time, you should go check out the threads for some of the other alt coins.  It can be pretty interesting.  Some are filled with bashing, some with goofiness, some with super seriousness, some with lament over the price of the coin.  But the ones that have a prayer of surviving all have a a couple of things in common: a working dev and a core group of supporters who ignore the noise, come up with new ideas, answer questions for newbies, and generally look for ways to support the coin and move it forward.

In other words, they're a lot like us.

This illustrates 2 things to me.
1)  We're doing the right stuff!
2)  We're not alone.  There are a lot of other dedicated people out there working towards the success of their own favored coins so we can't slow down.

How can you help?

• Advertise and promote SmartCoin anywhere you can, as long as it isn't considered rude.  (So don't just start spamming another altcoin thread with SmartCoin propaganda)  Facebook, Twitter, Instagram, Pinterest, and on and on and on.  Add a link to Smartcoin's OP in your signature.  We need to recruit new people to expand our base, pump the network, enliven the market, and offer new ideas.  The more, the merrier, except Atlantis   And honestly; if he stopped being a dick, I'd even welcome him back.
• Use the new tipbot.  Tip some people an SMC or 5 or 10 if you read a great post ANYWHERE on Reddit.  If you want to see how amazing tipping can be for a community, check out Dogecoin's subreddit: http://www.reddit.com/r/dogecoin/
• If you're creative (as quite a few here are), keep coming up with new ideas, images, promotions, etc.  For one thing, it keeps the thread interesting and fun and alive.  But it also helps generate more ideas, which in turn create even more.  We've already seen some of the things proposed here become a reality, such as Kimoto's Gravity Well.  What's the next great idea going to be?
• If you are in a financial position to buy more SMC, consider buys when the price looks right to you.  It helps with market volume and, of course, you get more coins.
• No matter what - everyone should mine, Mine, MINE!  Even if you have some beatup old card somewhere that can only output 20 khs, use it     We  m u s t  have hashrate.
• Try not to worry about the price right now.  Or now.  Or now.  Make a decision to commit whatever number of SMC you are willing to commit and then let them ride for a period of time that works for you.  1 month, 4 months, 12 months, whatever.  Think about the early participants in BTC and where they are today.  Please understand, I am NOT suggesting that SmartCoin is the replacement for Bitcoin.  I just mean that sometimes good things take a long time reach their full potential.
  

These are just ideas off the top of my head.  Add your own!

​

No way.  Arnie123 is far more lucid than Atlantis, even taking into account the fact that English is not Atlantis' first language.  Arnie is just another doubter/FUD spreader.  So what?   

__ __ __ __ __

I'm in this for the long haul.  I'm over 40, married with little kids, and have been investing my meager savings in the stock market since I was a teenager.  I've made some large chunks of money and I've lost large chunks, too.  I've never been much into day trading although I do it once in a while.  While it can certainly be profitable, it is very difficult to do well over time. Plus, it's stressful as hell   I prefer to look at long term trends, not minute to minute price fluctuations.  The problem is, this whole world is so new - even for those who were mining BTC from the beginning - that there simply is no long term.  Yet. 

Right now, the entire market is very, very volatile.  And with the explosion of popular interest over the past year, the introduction of cheap ASICs, an huge influx of noobs (like me), and a ton of other reasons, the entire crypto market is going to stay that way for some time.  It is just beginning to find its footing.

With everything based on BTC and the value of bitcoin swinging around as wildly as it has in the last 6 or 8 months, there is an immense amount of "irrational exuberance" - not for the concept of cryptocurrency but for the valuation of it.  A lot of things have to settle down before we get a clearer picture of where BTC is really going.
Will BTC be/remain the "standard"?
Can an alt coin (like Doge for example) prove that it can stick around if they don't reach the moon in the next few months, their (admittedly awesome) community calms down a bit, and the pricing stabilizes?
How will governmental regulation affect crypto?  Or perhaps I should say how badly will all of that regulation hurt it?
Or will crypto become a currency type that really does become fiat-independent and we are at the begining - the very lowest floors - of a new paradigm?

I don't know the answer to any of these questions but I do know that I'm excited enough to have invested real world money.  I don't have much - my sum total invested in crypto is 0.5btc.  I've managed, through some limited day trading and arbitrage, to acquire more than that but I am just a little fish - pretty much just krill for the whales   Still, I am in this for the long haul to see what happens.  No, I do not want to lose my money but at the same time, nothing risked means nothing gained.  And once again, this world is so young and this coins is only a month or so old.
Truthfully, we are just one alt coin in a sea that grows larger every day.  And there absolutely will be a shakeout where a lot of them (I suspect most of them) will get more or less discarded.  They'll end up like the penny stocks that you get market manipulating emails about claiming that "company x is poised to make a huge breakthrough - buy in NOW NOW NOW!"  In fact, that's really what they are now - including us.  Now some of those companies survive and prosper and some of the alt coins will, too.  The big question is: which ones?  Nobody knows.  For me, I'm looking for steady guidance, developmental progression, and, eventually, a stable and rising price.  NONE of the new alt coins has all 3 yet but after looking around, Smartcoin is one of the ones that I think has a chance.  I think our dev works hard and isn't easily shaken; I think there are some smart, enthusiastic members in this community who provide lots of great ideas such as logos, promotion, and exchange acceptance; and, yes, I think the name is good and that is a definite positive.

I chose Smartcoin because it looks like one of the better bets and my money is in for the long haul, even if it goes down to 1 satoshi.  On the one hand, my stake is worth a fraction of what it was, even as I still mine, so there is no point in selling.  But on the other, even if we were roaring up the valuation charts, I'd still be invested.  I'm incredibly curious to see where this whole thing goes!

Cool!  Thank you.

Sorry, it was late and I was quite tired when I wrote that.  I was also a little amped on the adrenalin of having witnessed such a subtle market manipulation.  Regardless, I definitely didn't explain myself well.  Let me try to clarify.

In answer to your question; yes, you can actually depress the price of a coin buy buying in, providing you are able to push the bid prices down, which I believe is what happened here.

Buy and Sell orders that night were (and still are) very low volume.  Each order may even be as small as a fraction of an SMC.  So if one just looks at the number of bids (instead of the buy quantity each bid asks for) it looks, at a glance, like there are a lot of people trying to buy a lot of SMC.  In fact, the overall quantity of coins bid is low.  As I write this now, the some total of bids is about 3 tbc and the top bid is 6900.  Last night I saw it at around 1.2 btc.  That's a lot of money for me but is chump change to big movers in the crypto markets.

Volume that evening was similar - lots of bids for not a lot of SMC.  I don't know what the total was at the time but I have to assume it was comparable as our volume hasn't had very many huge fluctuations, at least that I'm aware of.  The most important difference on that night is that the top bid was in the 12xxx range.

So, by selling into ALL of the bids from the top price (12xxx) down into the 3000's (or possibly lower as I had my own lowest buy triggers set down there but I don't actually know how low he went), he probably averaged out paying in the 5xxx range per SMC.  Once he had made his first round of buys, 2 things happened:

1.  He startled people into dropping their ask prices since it looked at first blush like a panic sell.  Remember, the buys were happening so fast that Coinmarket couldn't even display the bid and ask lists correctly.  The only way to see the current bid or ask was to look at the price under each box - the order list itself lagged significantly.  Anyway, with people seeing asks down in the 3xxx's or lower, new asks dropped very quickly.  He then bought those SMC, in turn, in subsequent mass buys.

2.  The second thing he did is the most significant.  He managed to cut the price of SMC almost in half from the 12xxx where it stood before this campaign to the 6xxx to 7xxx where it stands today. Since that night, he's been able to buy more at his leisure as the price slowly rises again.  Let's guess that at this point he's looking at average costs per SMC in the 5xxx to 6xxx range.  As the price reverts to it's former supported level of 12xxx, he'll be able to pull of an easy doubling of his money.  And, I suspect, he'll be selling some off as it goes up both to take profits and to keep the market moving.

A few other reasons I think this is what happened:

First and most significant is that there was no reason for a panic sell to happen at all.  I mean, there had been plenty of encouraging news recently and no bad news at all.

Secondly, while this spree was happening, there were several points where the total of bids was miniscule compared to the total asks - I mean like there were a total of 4 or 5 bid orders and still an entire off-the-bottom-of-the-page list of asks.  That is far, far different than I've ever seen it on SMC or any other coin.  During the recent large run up and subsequent pullback of Doge, for example, there was nowhere near the imbalance - going up or down - that I saw in SMC that night.  So people were just seeing the bids, assuming SMC had crashed, and selling into his hands.

Thirdly, we just don't have a large enough volume of traders to have caused such a huge decline to happen so quickly - almost instantly, really.  I mean, even if every single trader was online and watching the market at the moment the whole thing started I doubt we would have seen as many sales in as short a time as we did.

Fourth, I also suspect that he had seeded the bids with his own orders to help the bid list look fatter than it really was and then cancelled those bids as he started his buying spree.

Finally, it's something I'd consider doing to a coin I cared nothing about if I had the means.  What can I say?  I can appreciate the beauty of a good scheme.  Notice I didn't say scam, as this all falls within the rules of the exchanges.  Anyway, if that's what happened, it's pretty ingenious.

My own caveat:
It is absolutely possible that there was someone with significant holdings who, for whatever reason, decided to liquidate his holdings regardless of the price.  And I know Occam's Razor suggests that this simpler explanation is the correct one but...after watching it happen in real time, it just doesn't feel right to me.  Anyone doing that would have to know what the effect on the price would be.  Why take money out of your own pocket by dumping like that?  Still, it is the simplest explanation.  I just don't think that's what happened.

And to be clear, I absolutely DO NOT think it was an organic "panic" sell scenario even though that is a possibility, though in my eyes, the least likely one.
I hope I presented my theory more lucidly.

As for the scenario you saw on another market, I'd love to know more about it.  Sounds like an arbitrager's dream

 
Bastard!!    

I think some of you guys are missing the forest for the trees.  You're talking about is where the price is right now and how you have to sell to cut your losses instead of looking at WHY these fluctuations are happening and what they mean for the longer term.  Everyone seems to be forgetting the fact that we've had at least 3 instances (that I know of) of significant buying by some person or persons with a lot of BTC.  They bought quite a bit at prices that were higher than they are now.  Do you think they just threw handfuls of btc at Smartcoin to sink the coin and make no money?     That would make no sense at all.

It is very easy for someone with even a moderate amount of btc to manipulate a small volume market like Smartcoin.  Whoever has been doing this intends to make money.  They're building a large stake or stakes and then intend to ride it up before they start selling.

Obviously you can sell if you want to but...why?  The coin is a young, has an active dev that has been doing a lot to improve and safeguard it (most notably with the implementation of KGW) and, prior to last night's most recent program buying event, has been riding high on the charts as one of the most profitable coins vs bitcoin.  So, sell if you like.  I'm in for the long haul.  I bought in bits and pieces on the way down, will sell in bits and pieces on the way up, and intend to maintain at least half my holdings to see how it runs over the next 6 months + and possibly much longer.

Yup

First off, it wasn't a panic sell.  I watched it happen.  Repeatedly over a fairly short period of time, someone very rapidly bought his way through lots of pre-set sale lots, none of which had particularly large amounts of SMC.  This was done so quickly via some sort of automated mechanism or "buy bot" that coinmarket.io couldn't even keep up with the display of sale lots, only the current price.  In other words, the display would show lots from, for example 11xxx down to 9xxx but the lots being sold were at 7xxx.  You could only see the actual price in the Buy and Sell boxes.

The result was that the only remaining lots for sale were quite inexpensive and it appeared as if there had been a run.  That caused some people who believed there HAD been a run to lower their prices considerably and then the process repeated itself.  As I said, I watched it happen twice and I think it probably occurred a few more times.  In the end, someone with automated buying software managed to get a nice sized chunk of SMC for a deep discount.  And because of my pre-set sell orders, I ended up with a bunch more SMC at prices I never thought I'd see.  So yay for me, I guess.

I had a series of preset buy triggers set across fairly broad range and they all triggered in seconds.  Here's the one that had a set at 7500 and then 7006.  Both were triggered in less than 20 seconds yet there were many orders in between.  Same thing for 2 other sets I had.
Buy   Tue Feb 18 04:58:34   499.25 SMC   0.00007006   0%   0.03497746 BTC
Buy   Tue Feb 18 04:58:15   331.83812547 SMC0.00007500   0%   0.02488786 BTC

Nobody types that fast

Secondly, you think that an unfinished website is something that causes a panic sell?  Egad, man; get a grip.

LOL, I've been buying as it goes down.  Someone is just stomping on the price and buying everything, pushing the price lower so fast people think it's a panic sell.  At this point I hope it gets down to single digits and I'll empty what's left of my btc into it and wait for the rebound.

Lawl...umm...no.

Much noise about something quite significant.  Any Doge mined on the wrong fork will be worthless - in effect, not existing, once the right fork is ascertained and made official.  Likewise, transactions made with these "wrong" Doge will also be worthless.  So don't go buying a ton of Doge right now.

Indeed although I believe the reddit page is the primary location now.

Because we're on 1.5.1?