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1  Alternate cryptocurrencies / Altcoin Discussion / NFT market, dynamics October - November 2021. on: November 23, 2021, 08:49:04 AM

The market is subject to cyclicality, we are now in the dump stage and there are several reasons for this:

1 Withdrawal of huge sums from the market.

The amount of funds of NFT speculators is limited when a powerful sale occurs (Meebits in mid-May, Larva Labs collected and withdrawn $ 90M from the market) - the market freezes and goes into a dump.

2 The nature of speculation

NFT cycle: I bought it for cheap, the price soared 30 times, I sold it, I went to look for a new sparkling collection.

From July / August 2021, miners, influencers, as well as unethical teams began to interfere with the cycle.

Miners / MEV extractors: they saw that they can buy out almost the entire collection. Now a standing sale - gas for 5-6000 gui.

Miners buy up 30-50% of the collection, their cost per 1 NFT in terms of gas costs becomes 0.5-1 ETH, which forces the project to be dumped on the secondary in order to recoup costs.

Influencers: In keeping with the best traditions of 2017, crypto-twitters realized that you can manipulate the crowd, only unlike the ads for scam coins that you can grind for, in NFT - the shilling cycle is like: “Oh! cool art ", changes the avatar (while receiving several NFTs as payment), after waiting for a small pump, he drops the NFT below the market. Ale op, I have 5-10 ETH in my pocket, but the fact that the collection fell 3 times the next day - well, we are here behind beautiful avatars, it's impossible to accuse the influencer that you bought a JPEG for 0,13$.

Unethical team: some projects have mastered the development cycle:
- artist with FIVER, $ 500 for drawing art
- list of influencers compiled
- make givas on Twitter, so 5-10 thousand people will run into discord
- play 10% of places in WL for discord players
- 40% of WL places to distribute to your own, insiders
- to wash up the secondary sales market before the public mint (conduct deals for 1-2 ethers so that speculators rush to buy the collection in the hope of converting 0.05 ETH mint into 1-2 ETH profit at once)
- dump the market with insider NFTs, start coming up with a new collection - rhinos / lions / zebras / pandas / smoking babies / I think you get the logic.

3 Transferring money

After a powerful bull run on the cue ball in February-April 2021 - money flowed into dog meme-coins, Vitalik Buterin and the Chinese FUD cooled the market until July 2021, meme-coins fell by 90-95%, FTX is raising $ 900M of funding and practically in one person, the crypto market is deployed at the end of July 2021. Almost 30 days of non-stop growth, all alts doubled / tripled and went to transfer money into the hot topic of NFT.

Aug. Sept. The first collections take off, the NFT 10K collection collects a turnover of 5-10K ETH from the market, the market begins to fill with low-quality projects, miners, and scammers.

When collections cease to feel good in the secondary market after a couple of days, influencer pumps begin to disappear within 24 hours, capital starts to flow to where?

You read that right - back to the dog meme-coins (October 2021), here you have SHIBA INU for $ 45B and DOGE COIN for $ 40B.

Due to the rise of memecoins, the network, which favored the development of NFT in August-September (30-70 gwi average gas, put up for sale NFT - $ 25), due to dog madness - gas stably holds for weeks above 100 gwi, which means - put up for sale - $ 100-150, accept a bet - $ 200-300 - almost certain death for the NFT market.

Beginning of November: current state - the played SHIBA INU pump ends, wallets with $ 5B are in motion, degens receive a leisurely -50% free gift in a couple of days.

Gas will begin to drop by mid to late November and the market, fed up with meme coins, will carry its money into the shiny new NFT New Year collections.

And then, the cycle will repeat itself over and over again.

Translation from: DEFI Scam Check
2  Alternate cryptocurrencies / Altcoin Discussion / Scam project on Binance Smart Chain on: March 05, 2021, 07:53:09 AM
Meerkat Finance launched just a couple of days ago and almost immediately announced a "hack" of the smart contract vault that resulted in the theft of 13,000,000 BUSD and 73,000 BNB (~$31 million).

Immediately after the "hack" the project website was closed and the Twitter account was deleted.
3  Alternate cryptocurrencies / Altcoin Discussion / Grayscale removes XRP on: January 05, 2021, 02:49:46 PM
Grayscale removes XRP from its Digital Large Cap Fund

Crypto asset manager Grayscale has removed XRP from its Digital Large Cap Fund.

Announcing the news on Tuesday, Grayscale said it sold all XRP from the fund on Monday and bought more of bitcoin (BTC), ether (ETH), litecoin (LTC), and bitcoin cash (BCH). XRP was approximately 1.46% of the fund.

The revised components of the fund are BTC (81.63%), ETH (15.86%), LTC (1.43%), and BCH (1.08%).

Grayscale did not mention the recent lawsuit filed against Ripple by the U.S. Securities and Exchange Commission (SEC) as a reason for removing XRP from the fund. But said Genesis Global Trading, the fund's authorized participant, is suspending XRP trading on January 15, so it had to remove the asset.

It is not clear whether Grayscale's other XRP product, Grayscale XRP Trust, would face similar action. The Block has reached out to the firm and will update this story should we hear back.

4  Alternate cryptocurrencies / Service Discussion (Altcoins) / Bitstamp will restrict XRP transactions for US users on: December 25, 2020, 05:19:43 PM
Bitstamp: XRP trading and deposits to be halted for US customers

In light of the recent SEC filing against Ripple Labs Inc., which alleges that XRP is a security, we are going to halt all trading and deposits of XRP for our US customers on 8 January 2021 at 9 PM UTC.

We will closely follow the unfolding situation and continue to adapt accordingly.

Our US customers will still be able to withdraw XRP from Bitstamp. Customers from other countries are not affected.
5  Alternate cryptocurrencies / Altcoin Discussion / BITBAY is a huge SCAM alert! you will not regret reading this. on: November 16, 2014, 02:30:41 AM
Dear friends,

first take a look at this log leak.

Bitbay is pluffing about this Chinese as a great resource, but never willing to reveal his identity. this man is claimed have worked for Alibaba for ages, and have good connection to different major Chinese Exchange beside BTER.

Believe me many Alibaba employee are btc fans, they are most likely to verify it. but it is impossible, cuz if the identity of Chinese guy revealed, bitbay will crash even harder. The chinese group behind shitbay is well known scam maker.  No Chinese gives a shit to them.

ppl will learn from shitbay.

let me tell you why.  these organizers bought most of shitbay themselves. cuz no one give a shit to this scam. BTC turns back to their pocket and they can profit at any price with free premine.

And compared to counterparty and ethereum smart contract, David made a kid's toy. 

This Chinese promised some btc to David, and some of you may know david ask for 30 or 50 btc for licensing.
6  Alternate cryptocurrencies / Altcoin Discussion / {WATCH OUT} BTS bitshare is biggest scam on: August 28, 2014, 03:36:11 AM
Chinese Pumper want to turn you bagholders.

they simply pumped BTS to ATH and slowly release this PONZI-scheme COIN to you guys
7  Alternate cryptocurrencies / Altcoin Discussion / [ NEW] New Exchanges Hitting Chinese Market Today on: March 04, 2014, 11:15:41 AM

Ecoinfund aims to become leading altcurrency exchange.

launch soon and welcome to submit coin request.

8  Alternate cryptocurrencies / Announcements (Altcoins) / [ PRE ANN] New Exchanges Hitting Chinese Market on: March 04, 2014, 05:54:47 AM

Ecoinfund aims to become leading altcurrency exchange.

launch soon and welcome to submit coin request.

9  Alternate cryptocurrencies / Altcoin Discussion / a legendary fore-teller millonglong on: February 21, 2014, 04:21:07 PM

here is his twitter

he is a legendary hero in Chinese twitter weibo.

now he is opening twitter account.

Now he is holding great amount of mintcoins.

10  Local / 中文 (Chinese) / wolong 中国比特币界的人渣 on: February 20, 2014, 04:00:46 PM
11  Alternate cryptocurrencies / Altcoin Discussion / wolong is so cunning, claiming every big climb as his job! on: February 20, 2014, 06:50:04 AM
even the sharp jump of MRC on mintpal, he claim as his job!

and he just missed his own shit pandacoin planed pump!

now he will regret saying kill vert.

so pathetic!!!
12  Local / 山寨币 / wolong 垃圾? kill doge? kill vert? doge stable; vert double! on: February 20, 2014, 06:33:32 AM

"有认识wolong这个傻逼的么? 这个孙子今天说什么首攻pandacoin结果没有人被他忽悠贡献btc;完全打脸失败;现在说mintpal上的MRC上涨 是他的功劳; 这个孙子 是不是什么上涨 就说是自己搞得? 前两天居然说doge是他搞的; 说要kill doge kill vert; 结果doge平稳  vert翻倍! 现在就是个小丑了;"
13  Alternate cryptocurrencies / Altcoin Discussion / big move! smartcoin powered on on: February 14, 2014, 10:18:46 AM
volume is coming up!!!!!!!!!
14  Alternate cryptocurrencies / Altcoin Discussion / BQC on VIRCUREX NOW!!! on: May 22, 2013, 01:43:30 AM
this is not a joke coin.

BBQ is now seriously a coin accepted by merchants.

Big potential.
15  Alternate cryptocurrencies / Altcoin Discussion / best litecoin typo domain on: May 21, 2013, 02:07:39 AM
accepting offers
16  Alternate cryptocurrencies / Altcoin Discussion / WTS 25k RYC only 250L TOTAL on: May 20, 2013, 04:16:48 PM
we can start from small amount. 10LTC/1k RYC
17  Alternate cryptocurrencies / Altcoin Discussion / 《WTB>> WDC 10k @20L/1000WDC on: May 20, 2013, 06:52:07 AM
start from small amount let's say 500WDC.

Seller send first.

and we can endorse our credit here after trading.
18  Alternate cryptocurrencies / Altcoin Discussion / [b]WTB 30K WDC @20LTC/1000WDC[/b] on: May 19, 2013, 03:43:44 PM
We can start at small amount
19  Alternate cryptocurrencies / Altcoin Discussion / BQC/BBQ is no more a joke now? on: May 18, 2013, 11:15:24 AM
bqc is going to be accepted by more restaurants?

is that a joke any more?

but the price is rediciously low on the exchange.
20  Local / עברית (Hebrew) / עברית bitcoin on: May 12, 2013, 01:35:34 PM
עברית bitcoin
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