Everybody needs to relax. What's happening here is not that the price is rising, it's actually falling towards it's natural price point which is of the Litecoin variety. (More than that once the technology's established and out of beta).

Instead of a rocket to the moon, think of a marble rolling down a chute. The old price of 0.00015 is at the top of the chute and now it has been released and allowed to roll towards its natural valuation which lies at the bottom of the chute.

From this simple analogy, and given that marbles don't roll uphills, we can see it's not going back to the old price.

2500 sellwall gone in 45 seconds due to pressure of demand.

New press:

http://www.ibtimes.co.uk/cryptocurrency-round-darkcoin-rises-south-africas-madibacoin-bitcoin-2014-begins-1448694

Agreed.

He was joking.

You wait a very long time.

I do.

The uncontained seething and snarling originates from a misplaced sense of entitlement and a frustration that the market hasn't validated their point of view. (See my earlier post)

It's not exactly rare and I doubt there's a single case where a coin has taken off in the market and not left a trail of seething resentment behind where people dig up every reason under the sun for predicting its demise.

So be it. They may have a point, but the pluses now far outweigh the minuses and the launch of this coin is already ancient history as far as new buyers are concerned. Nor is the fact of alternatives coming on the scene going to affect it much because there are always going to be alternatives to everything.

This is one of the few originals in the history of alts and thats the bottom line. On top of that it's filling a glaring gap in the feature set of cryptocurrency technology, and on top of that it's not finished yet. The technical roadmap for this coin is such that it will nail down its dominance in this sector with belt and braces.

Whatever happened at launch, it's doing everything right now and the market's not arguing.

*************** THE REAL REASON WHY DARKWALLET IS NO SUBSTITUTE FOR DRK ************

Darkwallet is only an option for when YOU make a payment to someone else.

You've got no control over what others use to send payments to YOU. It is the latter that is far more critical because in finance, people are far more private about their INCOME than their EXPENSES. There are lots of reasons for that other than just tax evasion:

 - people set up a payment address for donations and don't want the donating addresses revealed
 - retail product vendors who don't want the blockchain addresses of their customers made public
 - people who delegate their money management to others and want to make sure they don't use a transparent wallet for consolidating their accounts

Dark wallet is useless in all of these circumstances because it relies on the SENDER making sure they use an opaque wallet.

So once again:

Dark wallet is no use for INCOME (the thing we want to protect). It's only any use for EXPENDITURE and then only when YOU spend it.

Nice informative post. TFFT. At least I learned something from it even though I'm into some DRK.

I don't think it's not worth investing though - just don't throw a mortgage at it when it's high. That seems to be the approach people are taking in fact. If you look at the order book it's all sub-100 DRK orders now which is still a reasonable amount of BTC.


Although technically true, people should understand by now that 'better technology coming along' doesn't do jack sh*t to the valuation once a coin's got itself established in a particular sector and doing 'the job', so I don't think that's going to scare anybody.

Neither do I think the instamine issue will - I think it's more about jealousy and a misplaced sense of justice than anything else. I say misplaced because miners seem to think that developers have some kind of "code of conduct" to adhere to which, if broken, justifies their damnation to oblivion for evermore along with their precious coin. Well, that may be so in the mining community but I'm sorry, the market doesn't see it that way.

If you think a coin wasn't fairly launched then don't mine it. There are plenty of others out there to mine. But don't expect the market to pass over a totally viable asset according to its own set of priorities which will be different but no less ethical than those of miners.

I think the relevant market analysis is here......


There you go. The market hasn't got a brain. Sounds fair to me 

For someone who can't even sort their it's from their its, you sure do throw your toys out of the pram over quality control.

I was going to say that this post was "an idiotic, totally butt-hurt load of elitist garbage", but I'll give you the benefit of the doubt that you put more than the customary 3 seconds thought into it.

Be advised that without the alts - and that means the lot of them -  the Bitcoin "revolution" would have taken about another century for anyone to raise a lazy eyelid over. There are about a thousand alt coins out there now and there might be that many a week in few years time.

Welcome to the real world of waking up the general public and letting them play with the new toy. Save your melodrama for when a whole country goes down the drain because some coin developer f*cked up or instamined too many of them. Till then just be happy that watching the 2 bitcoins they pumped into the "latest moonbound asset" shrivel to a tenth their value is about the price most people are going to pay for the adventure unless they're already beyond redemption anyway.

I'm into fully instamined, partially instamined, fucking premined, unmined and every type of mined coin. If I like the look of it I buy it - for all kinds of reasons, not just technical and not just because the developer had a Windows wallet available at launch. I make my own mistakes and pay for them and don't need to be called an idiot for it.

Sure, Bitcoin is likely to remain the reserve currency, but it's clear as a pisshole in the snow that it isn't going to be the only one. So why don't you just "stick a fork" in the antagonistic posts and come up with something constructive if you want to play the ethical evangelist role.

Need to bump this +1000

(..although I have been a guilty party. I now see the error of my ways. I've been on enough Cinderella coin threads to know that).

I remember coming here before I was invested and thinking what an industrious, level headed community it was that was more concerned with product development and technical integrity than price. (Thats why I bought).

There was nothing wrong with buying in at .004 and .005. It was maybe an all time high back then but it isn't now. The mistake you made was selling at 6 (assuming you dumped your entire holdings). If I'm in a market long term and decide to day trade, I'd maybe only risk 25% of the holding. Also, this isn't a market that's easily day tradable. There isn't enough spread or liquidity in the corrections to pull it off without a lot of experience and taking a couple of weeks off your life expectancy.

If it makes you feel any better, I bought a whole pile at 62, right at the top of the curve. Then it sunk back down to 58 and then further flash crashed to 48. I didn't mind because I knew this was going up long term and I knew there was a correction coming somewhere and I might be on the wrong end of it.

You shouldn't feel sick about your mistake, you should take action. If you really want to be invested long term just buy back in with less and take the pain. It'll wear off in a couple of days and feel laughable in a week

Also, folks.

Remember that the "last traded price" (the one that gets displayed on tickers etc), is a bit meaningless without taking into account liquidity as well.

For example, the price is now taking a dip back to the late 60's after a rapid rise. However 2000 DRK will still cost you an average of 0.007552 BTC and would push the "last traded" price up to 77.

Just sayin. Don't be spooked by corrections without having thinking caps on.

Great analysis.

Don't tax yourself too hard.

The reason you might be wrong is:

[1] - that this isn't a 'safe' "pump and dump" coin for dumpers. It is actually being bought on solid fundamentals which makes it far tighter on liquidity when there's a change in sentiment. If you watch the major dumps, they have all blown up in the dumpers face shortly afterwards as the market takes off again

[2] - it's been steadily rising for weeks. Lately, the pump and dump cycle has been getting ever faster - down to several hours for example for CINNI.

[3] - there have already been plenty of "tree shaking" moments lately. It lost nearly half it's value about 2 weeks ago and had a further few shocks since then. All of these tremors help to pack the price in

[4] - there is a certain market cap threshold which an asset can get to which gives it a stabilising inertia. Look at the top 7 or 8 coins on marketcap. They've been there since the dawn of man (well, of crypto alts at least ). That's because mass holding gives the asset a kind of market "rubber stamp" that secures its position and makes it very resistent to challenge - even from newer coins having major technological improvements. (Witness Litecoin. Almost every other coin out now is about 50 times more technologically advanced. It doesn't even do anything interesting except confirm a bit faster than Bitcoin. All the same - check its market cap compared to the nearest competitor).

On the other hand, of course, you may be right. No one can ever tell in this market. It's the wild west with some earthquake zones and a few untamed lions thrown in for good measure.

But we must keep our thinking hats on all the same and not just throw in the towel because there's too much turbulence to read the writing on the page. The writing's still there and pumpers and dumpers will definitely not have the last say on which technologies and assets emerge from all this intact.

Train approaching next station to pick up passengers...

Some huge volume just went in on Mintpal there. Talk about buying the all time high.

A 4704 DRK shot loomed over the horizon, about 4 order book levels away from the current price and a hawk swooped down on it and chewed it for breakfast.

That then set off a brief flurry of panic buying which moped up the remaining sells @ 7399. Now it's pandemonium. People have been patiently sitting waiting...."when is it gonna come down, when is it gonna come down so I can get in" and they're giving up, just buying every order in sight.

They should just hang tight.

It will correct soon enough and provide another boarding opportunity - albeit with not a huge amount of liquidity. But the thing that people need to realise is, you only need a few coins to be part of the party. If any coin succeeds in getting near Bitcoin's valuation, all you'll need will be in the 10's to have made a massive gain from getting on at this stage.

  What am I doing still holding a bag of Blackcoin  

I should ditch it and buy more Jackpot. But then again, isn't this a miner's coin ? If it gets popular with miners what's going to make it popular with traders ?

Spoetnik, someone should make a cartoon character out of you. They could save on a scriptwriter  


Not a bad bag to be holding actually. I wouldn't be letting go of it if I was him - instamine scam or no instamine scam