I think there are enough unrelated people who have seen the project developments over the last couple of months to be able to demonstrate sufficient proof of validity.

It is very important that the platform being released can be used by people who are unfamiliar with crypto. So while forum users who contribute nothing to the project think that they are entitled to post disparaging remarks about it or the dev, it is crucial that those who have had a chance to beta test are able to make suggestions about improvements and modifications which can actually help ensure the eventual release doesn't fall flat on its face from being too difficult to figure out.

It is amusing how people who might be skeptical as to what is in the works for this project tend to come away from a preview with their mind blown.

Probably explains why there are barely any coins for sale at current market price.

But if he said he is in BITS then it is too late, he is now out of BITS and is only just saying he is in BITS in order to manipulate the market so that he can buy back into BITS lower, at which point he will declare he is out of BITS, but will actually be in BITS . . .

etc. etc. and so forth.

'IE' has become the bogeyman of altcoins.

If you invoke his name, he will come!!!!1!!!!!11!1!!

Given the numbers related to this coin project, I don't think there's nearly enough coins available at today's prices to make it possible to pull off a successful pump and dump.

IMO, the base price would have to be in the high tens of thousands of satoshis per coin to make it worthwhile.

No. It won't.

Whatever the speculative trading that is going on now, the new platform will add an additional dimension to liquidity irrespective of where the price is today, tomorrow or next month.

That's why I am fascinated to see where the market is going right now and what will happen when the update is released versus the resultant change in market pressures from it actually being utilised. Two very different price factors.

I think a lot of these speculators will be finding that there is far less available to buy than they initially think which might cause them to rethink how quickly they intend to sell off if they are likely to be unable to buy back in again for a lower price.

This will be a very interesting market to see play out over the coming days/weeks.

Oh it'll be interesting all right, but I'd still have preferred the markets to have been sleeping when the upgrade was released. The price would have been a reflection of the perceived project value, rather than speculation.

Still, the two-year period of high interest rates on staking might lend sufficient support to the longer-term holder who wants to make like they own a free mining rig and earn a steady income from their BITS investment.

I've got to be honest, this is what I was hoping to avoid.

We've now got a ton of speculative day-trading interest buzzing around the coin creating a lot of market activity which, once the new platform is released, usually sees large amounts of rapid sell-off for profit-taking and to rattle the market in the hopes that some of the profit can be used to buy back in lower, rinsing and repeating until the price remains low long enough for the speculators to lose interest.

Personally, I'd have preferred to see the upgrade released before this happened so we could have, fairly quickly, found a workable floor to build from by way of the actual features and utility that will be available in the new version.

I seem to be stuck in a bit of wallet synchronisation hole.

I have tried deleting everything and redownloading the blockchain a few times, along with some 'repairwallet' action, but I keep finding the sync struggles to fully catch up.

Are there any additional nodes I should add or config changes to make to help it sync up? It is odd as the first time I downloaded the latest wallet it took seconds to catch up but since then it hasn't managed to maintain that.

I'd say you might as well hold off on screenshots until the actual release of the new wallet. Otherwise all that'll happen is the usual flurry of pump and dump-related inane postings.

Given that it is imminent I'd advise against it.

 

The price today is a reflection of just how little it takes to change the market due to the lack of sellers. There is no need to put in a buy wall unless you are actually asking to cash out at 600 Sats. Just because it's low now, it does not hold true that it will remain that way for long.

Coins that are dying in the markets generally have massive sell walls all the way up from people desperate to offload their bags. This is not, nor has it ever been, the case for BITS.

I could put the large buy walls back but there is little point. It served a purpose for ensuring that some stability could be restored for the period that the dev team were starting to announce project plans and progression, but I don't think there is anything to be gained by doing so again.

You'll see the the volumes being traded across the price bands are exceedingly small, simply because most people don't want to sell their coins from this intriguing project. It is something of an enigma so far, as I'm sure most of the hodlers who have been here since April would agree.

A low-key team who, just when you think nothing is happening around here, quietly drop in updates and improvements and mention along the way of some interesting new functionality being rolled out.

When the upgrade comes remember this, the value will come from it being used.

Yeah, that's not going to happen. You don't get to demand to be told anything just because you bought some coins.

If, however, you wish to ask a technical question related to the existing features of the Bitstar wallet, then go ahead.

On another note, how about some nice pics of VeriBit being used to withdraw GBP from a Bitcoin ATM in London?

Flight Tickets purchased via Cheapair with Bitcoin
Hotel room booked and paid via Expedia with Bitcoin

GBP to cover trip expenses, withdrawn via Android Vericoin wallet, through VeriBit.



KaCHing!!!

Thanks Vericoin, you saved someone's bacon when they were left high and dry by a late paying client.

You haven't presented a response that consisted of a reasoned position or challenge to anything I have asserted, therefore there is nothing to 'come back and fight' you over.

Diversion, Distraction, Deception.

Intellectual honesty, try it on for size.

I am currently travelling so I was equally as surprised to be away from the forum for a day only to find FUD starting to appear in this thread.

Glad to see it got handled appropriately.

Let me make one thing clear, if you buy into a coin it doesn't make you entitled to inside information. You are in no position to demand to be told what is coming or when it is coming.

Either buy some coins or don't.

Not saying, like I said, there are a number of different approaches to getting non-crypto people into crypto. One or more routes to that are part of the development path for this coin platform.

What can I say to that? You assert something that's entirely speculative and cannot be proven either way.

Speculate all you want, make your choices on whether to buy,sell or hodl at whatever price and strategy you think best. I know I have been supporting this coin for some time and will continue to do so. If you want to allege that I'm doing something else, you go right ahead and allege it. I say that, while I understand why people are suspicious and likely to allege such devious plans are afoot, I know that is not what I am doing so, yeah, whatever.

No they don't.

They can speculate what it is but it could be any number of things to bring non-crypto people in.

It wasn't to pump it, it was to stabilise it. If I wanted to pump it I could easily have stuck dozens of BTC on the markets and kept raising the price. As it was I ended up getting some more at higher prices than that because very few people would even sell into that wall.

I took it away for two reasons, firstly, the Mintpal incident with VRC caused me a lot of problems in my trading plans and I wanted the funds for some other trades I wished to make and, secondly, those who want to buy BITS now are tending to find that there is not a lot of volume below 1k satoshis and those who hold are less likely to want to sell for less than 1k satoshis. The trading volume on BITS is low primarily because people don't want to sell what they have.

There are *far* fewer coins available to buy than people realise.

The new services is meant to bring non-crypto people into crypto through BITS, which would mean that as the buying volume increases the price will naturally increase due to the relative scarcity of the coin and that's all I'll say at this point.