This is not the official telegram. Enter with caution, expect shitposting.

For those waiting for a good time to fill their bags: Since a couple of hours we have what must be the dumbest seller on tradeogre. Instead of placing asks and waiting that they get filled in what is clearly a seller's market, he/she is dumping into every bid (which is naturally quite low since there are no bots yet which keep the spread tight, losing 20-25% on every sale). The guy will run out of coins soon (I guess a miner without clue how an exchange works). This means you can get them at 14-15k now, instead of 18k. Once he is done, I'll paint the curve again nicely upwards like in the past three days

EDIT: I thought for a moment he has already run dry since we went to 18k again. But he is still there dumping regularly into 15k bids. Place bids and save 3k per coin before he runs dry or finds out how this thing actually works  

EDIT: He is still there, giving coins away at >10% discount  

Yeah, don't know what it is yet, we'll be looking into it, looks like the price increase comes from coinsmarkets.

error or prediction???

Typically anything that increases the supply lowers the price of an item. So if suddenly we were to find a gold mine tomorrow with a lot of gold, the price of gold would come down. So with that analogy more miners should mean a lower price.

Cryptocurrency mining is a little odd though. First of all the number of miners doesn't necessarily change the supply of the coin being mined. The blocks just re-target their difficulty to account for the increased # of miners and the same number of coins get generated. So more miners does NOT mean more supply and so it does NOT cause the price to drop in and of itself.

In fact, more miners demonstrates more interest in the coin. People are competing to solve blocks because they think the coin is worth something. If a lot of people thing that something is worth a lot of money then it becomes a self fulfilling prophecy and it becomes worth a lot of money.

So all in all a high number of miners should be good for a coin. I'd caveat that with it depends on what miners are doing with the coin. If they're dumping it right away then that could hurt the coin. But if they're mining it because they believe in it's future and want to be part of it then the coin's prospects look bright.

As for the huge number of coins - I think it's good. It means that the price of any individual Shield coin should be restrained. Look at Bitcoin today. Each coin is worth thousands of dollars. If I want to buy a cup of coffee in Bitcoin I'd have to pay 0.00051 BTC. It's such an awkward number and it's hard to imagine Starbucks or any major retailer deciding that things should be priced in the decimal points that Bitcoin would require. Shield doesn't suffer from that same weakness.

Mining does, indeed, affect the price of the coin.

I'd suggest the reasons for XSH's rise are:
- Unique multi-algorithm system
- Committed developers
- A decently active community