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1  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] RootCoin [ROOT] - rootEX™ announced - ANON-tx using BitKey™- PoW/PoS/PoI on: August 29, 2014, 02:17:46 AM
So someone on bittrex just sold almost 120,000 root to themselves. Of course this being the world of altcoins nothing is illegal as far as market manipulation goes, but can anyone tell me what the point of that was, is it just to try and make the coin look attractive to bots or day traders by artificially boosting the market volume? Either way be warned someone out there has a massive amount of this stuff and if their end goal is to increase the price so they can dump it's going to severely impact the market.

Also now that root is on bittrex it might be an idea for us to start petitioning other markets to list root as it will help to stabilise the price and make manipulation more difficult if the trading is spread across multiple markets.

Edit: So the story gets deeper, in the space of a 2 minute window almost 300,000 root was bought, and in a 9 minute window the market volume of root went from a little over 30,000 to 430,000!!! I gotta tell ya I don't feel super comfortable being as leveraged as I am on something that seemingly a single person has so much control over. If one single person actually has 400,000 root, basically 1/4 of all the root, they could crash the price to virtually nothing. If root is going to suffer the same pump and dump fate as every other altcoin out there then wth is the point of even trying to come up with innovative features. I mean we do actually need a decent anon coin, and there are a few contenders now, but if they all get destroyed by people trying to make a quick buck at the expense of everyone else, so that the only coin that retains any modicum of stability is btc then we'll never solve the problems that btc has.

Lol that´s fake volume buddy, dont worry, it will stabilize and go up pretty soon.
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