Coin bottomed around ~500. So 1000% not 4900%. Still a good gain though.
I based my math on 100 not 500, but yea 1000% is still excellent!
Can you imagine if BC value increased 1000% every month?
It should, and could if all of us just held our coins.
What I Don't think many people understand is that the multi-pool will buy the coins no matter what the price is. If the coins are 5,000 sats it will buy them, or 20,0000 sats it will buy them pushing the price up further. The only possible way the price could be low, or not always climbing slowly and steadily is if people dump coins on market 'faster' than the multi-pool can buy them up.
It goes like this,
Person A, reads fake news article from China about BTC and BTC price drops
Person A panics and sells 20btc worth of BC at market ($400 profit)
BC price goes down
Multi-pool buys 10btc worth of BC at market price goes up.
Person B see's BC price down from 3 hours ago and decides to sell 10btc worth of BC "before its too late to dump" ($700 profit)
Multi-pool buys 10btc worth of BC at market price goes up, (but still not as high as before first seller, because multi-pool needs more time to generate 10 more bTC)
So what we have is Person A and Person B, both decide to dump BC and take profit ($400 and $700)
This cause BC price to drop 7% for the day (over 24hr) Because they are 'panic dumping' BC faster than the pool can buy the price goes down for the day.
If Person A and Person B realized that BC has a multi-pool that will always push the price upwards if no one sells lower they would have not sold coins to take small profit. Instead the Multipool would have bought 20 BTC worth of BC at market and he price would be much higher. Now Person A and Person B would both have $900 and $1700 worth of BC instead of much less in BTC (which has been dropping)
If Everyone held like Person A and Person B and BC became worth 150,000 SATs, Then you can sell very small amount and take massive BTC. And you could give someone new a chance to have some BC.
Black coin is the first coin that puts us in total control of its value. There are no miners to dump at market and lower the price, and there is no high inflation to debase the value. Black coin does not even require new people everyday to buy at market to keep price stable. If the pool has *any hashrate* the price will climb always. Always!
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