Looking at the
BTC-chart these days AND the
611 / BTC chart it was for sure an awesome deal to buy and/or keep SIL coins
What a crock of sh*t. Who are you trying to kid?
Are you kidding yourself?
There are not many niche (or call it penny stock) altcoins following the
BTC / usd monster rally during the last six months.
At this time, if someone sells 0.1BTC worth of 611 the price will be back down to 0.00002002 from 0.00008268.
What's your point, IconFirm?
Even if 611 goes back to 0.00002 that's ok. If you bought 611 at this level you did not loose money against
BTC for the last six months, which means that you have also followed the rally of
BTC.
Seems to be a pretty tough buy wall around 0.00002
BTC because this has been the stable base level during the last six months.
You are buying your own orders in an attempt to pump the price in preparation for dumping your badly hidden 50% premine.
To put it straight in your own words: "What a crock of sh*t."
I invite you to read the technical specs and source code yourself instead of raking over old coals.
If I would pump the price buying my own orders you and anyone could make a great deal betting against this trend to buy back later.
I don't fear a massive pump & dump situation, because the creation of money is limited: actually 411,208 out of less than about 611,000 max. Declining mining rewards have been a good indication for stable values in the past.
I have another suspicion why 611 is pushing to higher levels at the moment.
But don't get me wrong: It is
not my personal recommendation to heat this or any other crypto coin rally.
Nobody is fool enough to fall for it.
You are welcome to sale your 611 inventory if you know it better.
Otherwise sit back and enjoy!