Thanks guys. clearly "makemebeat" has no clue about what he is talking about. I did the math, read the order book and sold it all. If i want, I can buy it all back for cheaper than what I sold it for. Not a bad return for a few days of mining.
exactly...
I've been a contributing member of this community for a while, but I know a good business decision when I see it.
The price was artificially high and unstable. The price is now too low, but stable for the moment and will eventually rise again.
I sold and I'm buying back now. I will end up with the same number of coins, plus a new mining rig.
Dumping means selling and getting out of the game with your profit. Selling high and buying back low is just good business.
That being said, its almost time to buy back in.
I've been watching coin trends for a while now and I've come up with a pattern that surprises me how often its true.
Coin enters a first exchange at value X. In this case ~100 satoshi were the first large legitimate sales
Coin gets pumped to 2-2.5 * X. EBT peaked at ~200
Coin gets dumped to hell, bottoming out at 10-20% of X. In this case, 10-20 satoshi
After a couple weeks when community starts getting restless, a second pump brings value back to ~ 50% of X.
Last, for many coins it is a slow painful death after second pump.
I believe this coin will make it back to a stable 50-60 satoshi in the near future, but if you want to keep it from dying like the rest, you better have some plans that separate it from the rest. You cannot compare to other successful coins and say thats the price you should be at. Those prices don't just happen based on total coin supply. Those coins have massive communities and massive efforts to build price. I don't care if there are 50 million or only 50 of these coins. You're never getting back over 60 satoshi unless you start doing something BIG with your efforts.
I could make maybe 3-5 BTC with selling my EBTs, but I decided not to do that, because it will hurt the price of the coin. I know that this has been already done, but I really believe in EBT's future. We are expecting new wallet, LazyCoins and soon - halving. People must understand that this coin is unique, because it is the ONLY one in the WORLD without BTC address for votes on Cryptsy and MintPal. It is one of the first coins with PoS award and it is the first, who stand up against paid votes on exchanges. Even a member from Cryptsy told me in conversation that he liked the coin and it's honesty. People must understand also that the market is in pretty bad shape, because of constantly launching of new coins, who are in hurry to be listed on big exchange and dumped. At the end many of those coins will die and few will succeed. I believe that EBT will be one of them!
EDIT: Do not forget to vote on Cryptsy and MintPal, so we could prove that one coin can be listed around the markets, because of it's strong community!
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