Those 200k that day on cryptsy were indeed mine. It was a mistake to sell but I didn't sell them to hurt the currency or to short it. I sold because I was deeply disappointed of DGC's dev, who to me is nothing but an early quitter. How could you put so much effort into coding and improving of a coin, an exchange, and all of the forums just to call it quits when running into some issues? That's insane! The fact that he closed the exchange on a super short notice, rendering all shares near worthless and throwing in the towel for the entire coin development convinced me that it was indeed him who "hacked" himself while collecting donations and deceiving everyone. It's fair to say that he needed money and he needed it overnight. At the same time telling everyone on the forums that he "just had a cash injection of 30k" that as far as I know was never used to promote the coin. Worst of all, the entire ordeal shows he as the developer didn't believe in his own coin. Under these circumstances, how could DGC possibly have a future from that point on?
Obviously someone manipulated the price or artifically supported it and I'm all out of the game. I will not buy back in higher than I sold my DGC as I'm not convinced any of the newly proposed measures will save the coin. You know why? DGC is missing the necessary attention and has been terrible at marketing for the longest time. Competition is rising every day and dilluting the market.
Mining DGC now is out of the question for me as you guys just decided to cut the supply by 2/3! Also reconsidered on buying scrypt Asics as they now will never ROI. Lucky I waited for so long. I'm sticking to mining bitcoin and only bitcoin for now.
This wasn't the first mistake I did but you don't need to worry as I was quite an early BTC miner, early LTC miner, mined almost all of my DGC myself or bought them for 2-3k satoshis, and I made some profits on Doge and MoonCoin along the way. I'll be fine. Not so sure about DGC though.
Nevertheless, goodluck.
Yes it was a mistake to sell but you still have a chance to buy back DGC at a very good price so all is not lost. We might never know why the previous dev decided to call it quits but I still feel in the long run DGC won't be overly effected by his actions or lack thereof. What we are seeing at the moment is a natural progression due to current market forces. Pretty much all cryptocoins are down including BTC and prices are being diluted by the continual creation of new 'shitcoins'. Its going to take some unique and useful ideas for coins to rise above the cesspool of mainly pump and dump cryptocoins.
You still have time to mine now before V3 is out and even then after that who knows, if the price rises on DGC your going to see profits from mining which could very well be more than what they are now.
Have you even read the DGC forums or spent time in DGC IRC lately? If you did you would know that the DGC Foundation has taken control and is working hard to bring about useful and meaningful changes to Digitalcoin by way of various projects including the V3 update. With Kenel at the helm and his 'can do' attitude along with guys like Ahmed and Xawksow developing for Digitalcoin I believe we stand a better chance than alot of other coins at becoming successful.
Anyway obviously its your choice in the end but I feel like you might want to take a deeper look at what is currently happening before you decide to walk away from the DGC community and any investment in Digitalcoin.
Cheers.
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