This coin is tight.

I notice it keeps getting its value underestimated. Whenever there's a "drop" due, it drops a little bit or goes horizontal and then into a sharp rise.

It's tight. That's why I lost my coins (I've lost them twice). Now I just sold a few cos I'm thinking it might be heading down, but I'm going to stop selling now cos it's too tight.

I think it's the low liquidity due to the low coin supply. Think of BC - 75 million coins. Thats quite a lot. This is only 15 million, so there just isn't the same scope for dumping because there probably aren't as many "lumps" in it (i.e. people with masses of coin stowed away in cold wallets).

Possibly also due to higher difficulty level during the initial mine. Maybe it's better distributed.

It's tight.

P.S. We've now reached the end of the last 5-minute down wave. (The 5-minute wave lasts about half an hour). We'll be going up for the next 20 minutes or so. Bit of resistance above 30. Those people stuck up there are wanting out so watch out for bits of dumps at the top. (Even though it's tight   )

How old are your coins ?

They need to have been in your wallet "staking" for 24 hours at least. Then at the end of the next 24 hours (say the 3rd day) you should start to get some coins.

I see. Thanks for that.

Take your point about working against the market. All the same, when you read about trading techniques in the stock market, those guys are working to 1 and 2 year cycles. The scale is on a completely different level which presumable irons out a lot of anomalies compared to market patterns which involve half a million dollars and 48 hours.

The thing about pattern templates like Eliot waves is that the longer the time period and the bigger the market, the more relevant they become.

In a tiny market like this with very short time periods, you may get patterns that resemble theory but half the time it's just a panic buy or sell that's going on.

For example, if I wanted to blow the current pattern to kingdom come - whatever it is - all I'd need is about 20 BTC and and spare hour. In fact that's exactly what happens half the time in cryptocurrency markets. They're small enough for groups of people to carry out engineered pumps and dumps so it's difficult to get a true valuation for the coin unless there are very strong fundamentals that always work their way through the artificial patterns.

All the same, we are all probably going through a small piece of financial history right now. All this trading, anxiety attacks, pumping, dumping, squabbling over "scam clones", who's the best community, transaction speed, difficulty retargets, POS, POW, high vs low supply and "early holders" is actually doing real work in bringing forth a new financial system.

Remember:

Cryptocurrencies are unlevered base money - 1 seat for 1 person
Fiat is highly levered credit money - 1 seat for 10 persons

Sooner or later this fact will find it's way into the mainstream and cracks will start to appear in the financial landscape of old. By that time, everyone who's had their baptism of fire on here will know exactly what's coming.

Others will be in for a bit more of a surprise.

The easy answer to that is DON'T TRADE THE SWINGS !! LoL

Unless your reasonably experienced and are sitting in front of a realtime chart (I mean up to the second, not minut) with variable ranges, convergeance divergeance signal lines and trading reaches, forget it. You'll loose money 4 times out of 5.

As it happens, this coin is now on Bitcoinwisdom so you can folow it there. For example, that dump that just happened from 32 down to 27 was entirely predictable to anyone watching the charts. It happened right at the top of the 5 minute wave so it may have been done my an experienced day trader who was watching that and planned to buy right back in at 27.

You don't see any of those patterns by just watching the price. You can't tell if a dip is actually part of a larges rise or is a rise is part of a longer decline in price. You can tell that with charts.

The way to "have the bollocks" is to always take a long term view. Your long term view informs your decision in the dip:

[1] - if you decided it's going up in the long term, buy the dip because even if it goes down further your in long term anyway and it will go up according to your long term view

[2] - if you decided it's going down long term, wait for the "dip" to come back up to the next peak and sell

I suppose your next question is "how do I arrive at a long term view". Here's how I did it:

Blackcoin is CINNI's "big brother" kind of. It's a similar coin with similar characteristsics but ahead of CINNI in network effect and age. It's currently at 30000 Satoshis at the moment with 5 times the coin supply.

I decided that CINNI could reasonably get to at least half of Blackcoin's price corrected for coin supply (in other words "Marketcap" if you want to use those stats). The coin supply factor is 5, so using a calculator, that works out at 30,000 divided by2 times 5 = 75,000 Satoshis.

So I concluded that CINNI could reasonably get to a minimum of 75000 Sats barring any disasters. Somehere between 75000 Sats and 150000 Sats (the current BC price corrected for coin supply) I might think about taking profits. If CINNI manages to surpass BC then we're looking at a price above 150000 Sats.

There are lots of ways of arriving at a personal valuation for a coin. Thats just my way for this particular one. (Only problem is I got thrown out of the market at 22 with the fast rise. I've bought back in at half the position I had. Still, will be interesting. Since I've been writing this we're now back above 30000).

Hope that helps you have stronger "bollocks"

b.t.w. to that guy pumping fluttercoin, I'm in fluttercoin so I'm not that fluttered about it, but I don't think the 'pump' is by any means over on this one. It may settle for a while though.

We're screaming back up.

We have 5-minute MACD divergence already.

Thank god for that.

Notice the volume on the first 2 Mintpal green candles right after the bottom was hit. A lot of BTC went in right there.

Just checked Bitcoinwisdom which agrees (obviously cos it's getting its feed from Mintpal). 2 huge volume candles right at 2300. Looks to me like nearly half a million CINNI changing hands in the space of about 20 minutes. If that was the bottom - not the best place to cash out 

Good sign.

People want the coin, they just want to know the right time to get in.

Well I think the bottom of a 34% correction sounds about the right time to me.

Enforced cooling off period by Mintpal approaching.

Coverage of play continuous over on channel cryptsy.

Hold your breath.

The interesting thing will be the next dip after this rise (currently @ 276). Lets see if it drops below 23500 or not.

I'm back in.

You know the great thing about this dual algo thing ?

When the coins are cheap, it's more economical to buy and stake, so it drives the price up and the difficulty down (because in theory, it encourages less people mining more people buying).

But when they're expensive then it becomes more economical to mine again and that keeps the hashrate up.

Nice, self-regulating balanced system.

I thought they were the same thing.

When I received coins by leaving my wallet open it has a "mining" icon next to it. But I can see they are "staked" and not mined because:

[1] - it's the right amount of coins per day (0.1%)

[2] - my CPU is almost asleep. Not one single fan is on


Staked, Minted or Mined - doesn't matter. If it's a wallet that's doing it (as opposed to a miner with masses of electricity and noisy fans) then it's probably staked.

(Don't know what the difference between "staking" and "minting" is. I think it's the same thing).

Mining vs Staking:

Here's how I see it (for someone with crap jackpotware):

Cost of 2 x 7950's: $570 + Electricity (roughly 2000 KH/s if your lucky)
Coins mined per day: 50,000 JPC (...decreasing cos difficulty's goin up)

...on the other hand...

Cost of 40 million JPC @ 4 Sats = $720 (no electricity)
Coins staked per day: ~ 40,000 JPC (... increasing due to compound interest)

No electricity and no contest  

LoL !

...plus just a tad stressful on the old nervous system.

I dumped WAAY too early during the level off at 22, convinced there was massive dump on the way. Then it just took off again. I had offloaded my entire lot which is something I never normally do ! (Basically because of the bad experience with Blackcoin where I decided to hold the hold way and then that huge dump appeared taking out 70% of the price in an hour. Now it's the other way around and I'm wrong again).

Ironic because I was the one posting crybaby photos a while back telling people not to moan about being left behind. Now it's me in the pram 

Coin certainly deserves the valuation so I've no complaints there. Somebody please just tell me how to identify a top.

I put a bitcoin back in @ 29 just to be able to be part of the party again, but jeez, I can think of more relaxing ways to spend an afternoon

Voted. Both Swissex and Mintpal.

Hi see360

I think you meant D ?

Jackpot coin is going to be the next big "up and coming" IMHO.

New independent POW and POS algos, and the first (I think   ) "true" random jackpot algo + "great dev" etc etc.

One other thing - I know everyone always says this about new coins but the the transaction speed for this coin is ASTONISHING. Withdrawal off the exchange is like 5 seconds exchange-to-wallet unconfirmed status and then another 5 seconds to confirmed. Thats one of the benefits of the dual algo. Has to be seen to be believed.

Still some available for those who want to get in at ground level. Fresh article on it in Cryptoarticles: http://www.cryptoarticles.com/crypto-news/2014/5/7/jackpotcoin-second-generation-powpos-random-super-blocks-asic-resistant

Others (apart from BTC and LTC):

NXT - superb

DRK - has to be on the list due to trustless anonymous transmission technology. Way undervalued and one of the only coins I've ever seen that might have a chance of rivaling Bitcoin's value (as a complimentary currency that is, not as a replacement)

PPC - I haven't got any right now but I still think it's one of the greats
BC - probably can't discount it due to the manic following it has (although I've sold most of mine)

Disclosure: I'm in BTC, NXT, LTC, DRK and Jackpotcoin (+ a bit of long lost Quark that I must dig out  )

Care to translate ? That post's a bit cryptic.

What has been announced ? What order book are you talking about ?