Max Keiser's twitter feed is retweeting a favourable view of the Darkcoin technicals right now:

https://twitter.com/maxkeiser

Well, actually, the joke might be on you 

That could have been a very experienced day trader who's been trading in and out of DRK since it started moving significantly a month ago. They might have been making money on every rise and every fall.

You're just looking at a single trade. You can't tell if that was simply a profit take from a longer term trading strategy or not. Not everybody is a long term investor.

To day trader whales, markets like this are just a way to accumulate more Bitcoin. They don't care what the price of the day is as long as it's moving. Also, they don't worry about getting "left behind" because they're in and out of this coin the whole time. Whenever you see a big buy or a big sell there's probably a 75% chance that that money has been going in and out of the market about 50 times.

Yes. That did cross my mind and could have contributed. But a code fix and a major fiat gateway are kind of leagues apart in terms of long term valuations.

b.t.w. I didn't mean to bite your head off in my last post. Should have previewed it and apologise if I was a bit antagonistic there.

I haven't assumed anything. I've OBSERVED that a chart which had been behaving absolutely normally for the best part of 10 days suddenly doubled back on itself for no apparent reason other than the fact that it coincided with a barrage of rumours and screenshots about DRK on Bitfinex.

The rest of your post is wishful thinking if I ever saw it. w.t.f. does this mean ?


Is that supposed to be a joke ? Do you realise how attractive a volatile market is for day traders ? The truth is you've not one clue as to whether "there are now more investors who are in for the long term..." and neither has anyone else. This market can get dumped in a second on the slightest bit of bad news so lets not kid ourselves with crap like that. Bitcointalk graveyards are full of those kinds of meaningless statements.

As I say. Wishful thinking is going to get us nowhere and realism is. Concentrate on what's really going on rather than what isn't.

It was due in the sense that day traders buy and sell on cycles. In particular the 4 hour chart - which has a period or about 2 days for DRK - is a favourite for them to buy in and dump on.

Yesterday was a clear dump opportunity as far as that cycle went. Around midday Sunday it was clearly heading down but it balked just as it was about to turn over. May be just co-incidence but it happened right when people started posting all those screenshots of the DRK market on Bitfinex.

All I'm saying is that that is a fairly huge rumour now that will backfire quite significantly if it turns out to be no more than that. You start rumours like that and it basically becomes fact quite quickly. Then when the truth behind it emerges (e.g. there are no plans at all to incorporate DRK) you end up doing more damage than you would have just by shutting up.

The market just read your post I think.

I hope you people talking up this bitfinex stuff realise that this now HAS to happen otherwise we'll have a crash on our hands.

This development has now been getting slowly priced in over the last 24-48 hours, in particular regarding the fact that a correction was due yesterday that didn't occur - the price went up instead.

That's the price of jumping on these kind of rumours.

The rumour will be bought and the news will be sold. When bitfinex come out and state that periodically run viability tests on their new API functions using a variety of tickers but currently no plans to add any alts then that's going to no be seen as negative news and trigger a good old dump.

Just saying'. Watch what you talk up.
 

The point I was trying to make was that it doesn't make an exchange any more or less of a target by carrying so called 'anonymous' coins.

As far as regulators are concerned there are not different types of crypto - there's just 1 - the crypto economy. They don't give a sh*t if a particular coin is anonymous or not. As far as they're concerned they all are due to the simple fact that there's no counter party involved as with fiat.

[quote author=EvilDave link=topic=587007.msg7085805#msg7085805 date=1401697169Sadly, mate, Ethereum probably won't. Ethereums current launch date is 6 months away, look how far NXT has come in the last 6 months. NXT will have a full years lead time on Ethereum by then, and that year is important. Ethereum may well be technically superior, but by then NXT will dominate the 2nd gen space.
We'll see....interesting times, anyway.
[/quote]

NxT and Etherium are different markets.

There are areas that Etherium is going into that NxT won't ever go near. They are about as different as the clothing industry and the machine tool industry.

I agree that NXT will grow and have a well established client commercial base in 6 months, but Etherium is a very different type of technology that is unprecedented. So its market will be unprecedented as well.

2nd gen's are not like currencies - they're more like services. There'll be loads of them facilitating different sectors and product types. There is no need for one to dominate and others to "fail". They just are what they are all along side each other - like web services.

In 6 months, Etherium will be out which will probably blow every 2nd gen initiative to kingdom come unless it's already well established.

Don't say you weren't told.

I don't think that clandestine product merchants operating outside of the law are the biggest target market for anonymous coins. If they were, none of them would have anywhere near the value they have right now.

Nor is 100% untraceability the most important thing either. Whatever technology these coins use it has to be accepted that some theoretical element of traceability exists.

What's more important is opaqueness. i.e. your average joe can't look up a blockchain and discover what transactions went through some random address - i.e. practical opaqueness in the financial system.

The reason that is the target market is that that's what people currently expect from the fiat financial system. e.g., if I set up a website to do sales and supply a payment address, people can't easily see what my turnover is on that address.

Absolute secrecy, "hiding from the NSA" and the like is a much lower priority. It might be technical one for some but it isn't such a big commercial one IMO.

I don't agree with this being as significant issue as everyone' string to make it out to be.

The bitcoin blockchain is anonymous.

Although you can 'track' transactions, they are moving between addresses which do not correspond to real world identities. You might be able to find out who has a private key for a particular address or you might not.

DRK takes this 1 step further by obfuscating the actual transactions themselves.

The idea that regulators are going to be happy with one of these and not the other is a bit ridiculous I think. They will have a monumental problem with both and if they have the first clue about whats good for the Fiat money system will not allow crypto anywhere near it in any shape or form.

There are other reasons for this which are much more important than anonymity. In particular the fact that crypto is unlevered base money. That makes it a threat (a bit like precious metals) to a money system which is levered off a fixed capital base and underwritten by nothing more than private debt.

Well hold your fire right now.

The optimal moment still looks about an hour away I'd say so you might lose a bit more sleep than you thought  

If you just want to buy more, you should get a chance in about half an hour to an hour as we're just about to enter a small correction for the last rise.

Looks like it might go back to just above the .02 for a while (or even the late 19's if your lucky).

My main conclusion as to why this afternoon's dump didn't happen is: Reason = Litecoin

DRK and Litecoin are moving towards each other like magnets across a street. Except that Litecoin is slightly the more enthusistic of the two having the buoyancy characteristics of a safe with the door open right now.

There's been a lot of background chatter and speculation as to the terminal nature of Litecoin's decline on places like BTC-e trollbox.  The problem is that the only thing it has going for it is history and a couple of Chinese exchanges. DRK is probably high on everyone's list as a replacement candidate being a genuine alternative to BTC not just in algos but in end user features as well.

The BTC/LTC 1-week MACD is a sight for sore eyes if you're an LTC bag holder. (I was until about a week ago when I jettisoned my last load at a loss as usual).

I think the biggest weakness it has is the fact that almost all its all-time-high value was gained in the space of about 1 week back in mid November. Since then it's done nothing but lose value which is it was doing prior to that huge pump.

So it looks increasingly like LTC is in a slow death spiral and will bite the dust sometime soon as Bitcoin's number 2. That leaves the position open for a new candidate.

Stakes are high. F*ck ups are off the menu from now on for any prospective contenders.

Hey. This is "crypto" not "cryptic"   

You seem to like living dangerously.

Even if you time it to perfection, you'll be lucky if you get a spread of 0.001 to accumulate over. And then you've got to find enough liquidity to get back in before a whale comes along and hoovers it up in front of your nose leaving you crawling back to a long position at 50,000 satoshis above your exit point and the corners of your mouth pointed at the floor.

We're now number 37 on Mintpal.

Keep voting. Every hour.

There's no sound.

(Is that the whole idea   )