The 0.001 sell wall gives us some time to take a breathe and mine the last easy coins until it gets broken. I really worry about the next days, if it will climb up too quick, it may attract too many speculative traders moving the price irracionally and causing the coin to die as an ordinary P&D coin and being hated by its own community.
What is an irrational price move with $800+ btc?
Just wondering. The speculators are coming, some already here. Major factor though is supply is going to stay limited and most importantly distribution is widespread. I dont forsee very many large orders swampin the market as there are not many large holders. Yet.
The sell wall at .001 is intereting because it does appear to be one large holder. Pool maybe? 15btc were offered at .001 or close last night. This morning it was lifted and broke down to 4 and 5 orders between 94 and 100. 5 of that got chomped today but its really just one seller so vapor thin on the sell side and the buy wall building. It will fall soon I suspect so mine faster. Heheh. Poloniex traded to a least 126 on no volume. There is some size going there now, better than last week on liquidity for sure but still pretty thin.
Some was lifted but most of it was placed at just slightly below. People were buying at 0.00099 all night so no need to sell at 0.001. So people bought most of that 15 + a lot more.
And just now I watched the wall fall. There is a really really big demand for this coin. China was buying at 2-5AM PST like crazy also.
They love coins like this. And in reality this coin is unique.
As I said before - This coin may replace LTC. It's better. And it's cooler too.
Imagine have 1000 of these in a year they are worth $100 and you are thinking how cool you were to be there at the beginning.
edit - no one will ever get this coin for 0.001 again.
Congrats! You made a coin that people want to TRADE and USE!
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So that everyone can easily see we are the most profitable coin to mine... and we can rest safe in the knowledge that if people point their miners elsewhere we won't get stranded at a high diff and kimoto will take good care of us :p
which is pretty impressive in this rather competitive environment.
