I think some folks on here should give the swithering and swathering a bit of a break now. The drama levels have got a bit overblown.

This correction could be seen a mile off to anyone monitoring chart technicals. In particular, the twelve hour momentum rollover to the downside was co-inciding with the 4 hour, so that was a kind of mega smoke signal if ever there was one for speculators to take profits.

Nothing to do with masternodes or XC or anything else apart from maybe a bit of a push, so all this flamewaring with other coins is a bit of a waste of energy and people should get back to using this thread for discussing operational issues. If your not day trading the coin then price corrections like this are largely irrelevant anyway - there have already been about 4 of then in the last month where it dipped to half it's value before growing again.

Another reason for keeping your hair on is that this correction is going to last at least till after the weekend and possibly well into next week. The twelve hour has a good 4 or 5 days to go to recover that momentum and the 4 hour isn't doing much else than bouncing up to the neutral level while it waits on a consolidation.

Looking at the volume history, the two big resistance levels look like being at 0.009 and 0.006. So we'll probably take a few dips, bouncing of the first one of those before next week's recovery.

Meanwhile, selling at this moment in time is possibly even riskier than holding. On fundamentals, it got past the turbulence caused by the hardfork and has taken the hit on valuation. The clone competition issue a non-issue. I don't think that did any more than slightly amplify the correction. It's not my policy to be critical of other coins - they are all viable projects in my opinion and I even have a stake in some of DRK's contemporaries.

However it's a fact that clones (I use that term loosely, meaning coins in the same technical 'sector' that are not originals in that sector) never get near the valuation of the original apart from temporarily. Witness LTC vs (All other SCRYPTS), Blackcoin vs CINNI, PPC, BTC itself etc. The market needs a damn good reason do disinvest itself of millions in market cap and throw it all at another coin. Different technical approach / dev / community are not nearly enough as long as the original is doing its job.

I was on holiday when I saw the dump on the cards about 6 hours prior to it commencing. But I couldn't be bothered doing anything about it because - hey, a person's got to have a life and I'd have had to have stopped relaxing, get my laptop out, charts, start worrying about liquidity and where to get in / out.

Sod that.

You people need to stop peeing your panties over price corrections and getting into hate mail fests with holders of other coins. Also, don't hate on day traders who decide to dump. That's their job - to keep the market 'clean'. They will dump at the end of chart cycles of moving averages. Even a robot can do it. Don't worry, they won't dump past the core valuation of the coin and it'll soon come back up while there's work in progress going on.

Get back to constructively contributing to the coin's technical evolution. Stop worrying about competition - it will sort itself out and nobody's going to run off with all the value in your precious asset. Have some confidence ffs. It takes a lot more than is currently on offer to knock an original off its stride. But at the same time, this is not tribal warfare. All these projects should be seen as constructive and complimentary, so start treating people with respect even if they don't reciprocate. You'll be rewarded a hundred times over because bad vibes are negative PR and 'noobs' can read. If you really need to attack someone, use the humour approach (there are some well qualified posters on here  ).

Sometimes legitimate critisisms are made dressed up in flamewar camouflage. Just answer it politely - or even accept the point. Defensive rhetoric just looks like you've got something to hide.

That's today's wee rant over. Enjoy your bacon & eggs.

Nice analysis. Did you think of that one all by yourself ?

Don't forget to panic folks.

You make most money that way - whether it's a panic sell or a panic buy, when you feel that wince in the pit of your stomach, thats the signal to DO SOMETHING.

It’s the first rule of markets that trading in a panic is THE best way to optimise profits or mitigate losses   

If you need it spelled out to you then here's my 4 point guide:

[1] - as a warm up, pull up a BCW 15 minute chart at maximum scale and wrap your eyes round a few of those red candles for about 20 minutes

[2] - get yourself loaded up on some fresh FUD in the DRK [ANN] thread from prime sources such as mr_random, ymer and ac2. Focus in particular on the fear factor from XC coin - its sh*t hot dev who MUST be better than Evan cos he’s done all that work in radio networks and stuff. Check the guy’s LinkedIn CV once more just to ram that point home

[3] - get onto Mintpal and check the liquidity on the bid side. Hopefully there won’t be much so you can actually contribute to driving the price down while you offload and make doubly sure this mother doesn’t come back up

[4] - check you’ve thoughroughly lost your appetite by now and, despite having a mouth as dry as a badger’s ass have convinced yourself that this coin is never ever nunca nada coming back to anywhere near the last trading price ever again and FIRE !! (Make sure you get rid of your entire holdings without trace)

Oops.

[5] - now that the shoe’s on the other foot, start panicking again. Hope to f*ck that Even doesn’t deliver on his roadmap or expand his development team to include a load of sh*t hot coders that don’t have day jobs and can concentrate on the project full time. Hope to f*ck that DRK’s commercial approach doesn’t attract more buy ins from masternode wannabees and drive the price back up. Hope to f*ck that that sell off wasn’t nothing more that just the 12-hour and 4-hour MACD crossovers coinciding and triggering a spring tide profit take by speculators who will buy straight back in again once they cross again to the upside. Hope to f*ck that the fudster material you read in the threads was well researched and made in good faith by non XC and Monero bag holders.

Yes indeed. That panic button is the boy. Press it, and hope to f*ck you maximise profits is the way to go 

Thanks for the analysis, but just "FYI"  "Time to abandon ship" is when price is high and nothing happening, not when price is low and tons happening.

What's losing momentum is parasitical FUD like this remark that doesn't stick 

Keep it up though since we might start missing the attention otherwise.

+1

Fitting development priorities to price is the road to disaster.

F*ck the price. If a change needs a hardfork then thats what it should get. I'm not saying that absolute maximum care should'nt be taken to make the disruption minimal, but design priorities and technical strategy should be done around quality, not markets.

Why is this a mystery ?

Or more specifically, what relevance does it have to the current market ?

DRK is targeting a very specific and well defined feature set.

The fact that one person's definition of 'anonymous' differs from another's is beside the point.

The fiat money system is fairly 'anonymous' in terms of public privacy, but probably not so in terms of 'NSA' privacy. It all depends on what market your supplying. The market I'm in is the public privacy one. That's where the gaping hole in Bitcoin's feature set lies and that's probably what most people are interested in given that they seem to accept already that most of their private transactions are at least "surveillable".

Tell you what. You watch it for us since you appear to have time on your hands.

When I bought this coin I knew I was buying into quite a challenging technical project. When I saw it going to 0.027 I thought it would probably correct by about 50% - if not all the way back to 0.01 for a while. Apart from anything else, it's indicated in the most basic DRK market technical analysis that there are a few days of correcting at hand.

It may or may not ultimately acquire one of the top 3 valuations in the long run, but if it doesn't it won't be for the reasons cited in all the b.s. posted in the thread, thats for sure.

My guess, however, is that it will.

The leadership position that DRK has already obtained is not one that's easily challengeable by better technology. Also, it's in a "right of passage" period right now. A hammering in the markets is just the price to be paid for that, but it doesn't necessarily reflect on the long term viability of the asset. We're less that a week into the latest major technical phase of this project and the main issues that caused the chaos the other night are already stabilised. There's at least another two years of development on the cards with no other competitor anywhere in sight that is close to such an advanced stage in its evolution.

Even if there was, one look at the market cap history of originals vs clones tells you all you need to know about the threat that that poses as long as the original stays stable and active.

So I won't be ditching my DRK holdings anytime soon unless I see a good reason to or for doing a bit of day trading in accumulation mode. The stuff posted in this thread is a mixed bag at best in terms of technical appraisal and almost irrelevant in terms of asset appraisal.

So enjoy the market sideshow f.w.i.w. but don't pretend that it's any more than that.

Anyone know why the masternode stats page keeps hanging browsers (or my browsers at least) ?

i.e. this one:

http://drk.poolhash.org/darksend.html

The Masternode stats page hangs all my browsers and I have to restart them if I even just load it. (Firefox / Safari on Mac)

They're not. DRK's market cap is still peanuts compared to BTC or even LTC. (Less than 1% of BTC and 14% of LTC)

The "so much money" bit will come once it's demonstrated to work (on a massive scale) which will likely happen over the next few months to two years.

As for the instamine stuff, as one poster has already stated, it's all gone. Washed out by the markets in the early days of the coin when people were dumping 10's of thousands at a time.

Try posting the basis for your conclusions.

They're not the same ones I come to and I don't think I'm naive having been trading 'pump and dumps' for about 6 months now. This type of volatility and technical uncertainty is exactly the sort of thing that, if survived, makes it very difficult for other coins to challenge.

Think of it as a "rights of passage" exercise  

Neither will I.

r.o.t.f.w.l.  Actually, it's about ALL they care about when it comes to money.

You really think that commercial companies, banks, investment groups, paycheque recipients or ordinary guy in the street are fine with the idea that the general public are 1 address away from knowing ever goddam piece of income they ever received and each bit of expenditure they ever made ?

When I first discovered DRK, I valued it at around the Litecoin price at least. All it's doing is gravitating towards that stable value. It's one of the few coins I didn't buy with the intention of dumping at the end of the pump.

The fact that other similar technologies are coming on the scene won't do jack to its price because its acquired a leadership position in this sector which the market has acknowledged exists. Clones never get anywhere near the original in terms of price in any of these algo wars.

Well I don't regret buying them 

BTC-e trollbox is a running commentary on the DRK market and it's not even on their exchange.

Mintpal 24 trading volume in the BTC/DRK market.

2 BILLION US dollars

5120 DRK shot at 2 munched in 15 seconds.

Popcorn moment.

DRK at 0.02

Ouch.

Congratulations for sticking with it.