PIVX: Who got rich from this?

[thejaytiesto]

Well shit, this is 500%+ already. Why did this pump? another random whale pump and dump? It was stagnant for months, now it pumps to hell. Classic pumpy behaviour unless you can find a better reason.

Seems like the typical "good morals" clone of a coin, just like Zcash Classic or whatever. Who would have guessed this would make some people rich?

[JudgeDredd_]

I made 372k$ from this today alone. Feels like winning the jackpot in casino.

[iamnotback]

I made 372k$ from this today alone. Feels like winning the jackpot in casino.

Did you cash out $372,000 in BTC or fiat? Until you do, it is not a realized gain. Is there enough liquidity to cash out.


@thejaytiesto, just when you get jealous and bite, that will be altcoin that goes to 0 and you lose it all. IMO, you can only invest in your convictions. If you believed in a Dash-clone, then you invest. There are apparently professional groups that get together and pump coins. Perhaps @JudgeDredd_ is one of them. Why else would he have invested so much in such a risky altcoin.

I didn't invest in either Dash nor PIVX, because for me the masternode concept is a very flawed technology.

I don't have good advice for how to play in the speculation area. It feels and looks like rolling dice or getting involved in collusion. If our efforts and energies will be expended on those activities, then altcoins will never accomplish anything important.

[generalizethis]

I made 372k$ from this today alone. Feels like winning the jackpot in casino.

Did you cash out $372,000 in BTC or fiat? Until you do, it is not a realized gain. Is there enough liquidity to cash out.


@thejaytiesto, just when you get jealous and bite, that will be altcoin that goes to 0 and you lose it all. IMO, you can only invest in your convictions. If you believed in a Dash-clone, then you invest. There are apparently professional groups that get together and pump coins. Perhaps @JudgeDredd_ is one of them. Why else would he have invested so much in such a risky altcoin.

I didn't invest in either Dash nor PIVX, because for me the masternode concept is a very flawed technology.

I don't have good advice for how to play in the speculation area. It feels and looks like rolling dice or getting involved in collusion. If our efforts and energies will be expended on those activities, then altcoins will never accomplish anything important.

Actually I'm buying this out of spite for dash and their continual mantra of "No one cares about the instamine." And yes, the staking system will likely create equivalent centralization over time, but I can wait and will move on when that day comes. Until then, it feels real good to put dash's clique of masternode operators into a prisoner's dilemma with each slot PIVX rises on coinmarketcap.com

[thejaytiesto]

I made 372k$ from this today alone. Feels like winning the jackpot in casino.

Did you cash out $372,000 in BTC or fiat? Until you do, it is not a realized gain. Is there enough liquidity to cash out.


@thejaytiesto, just when you get jealous and bite, that will be altcoin that goes to 0 and you lose it all. IMO, you can only invest in your convictions. If you believed in a Dash-clone, then you invest. There are apparently professional groups that get together and pump coins. Perhaps @JudgeDredd_ is one of them. Why else would he have invested so much in such a risky altcoin.

I didn't invest in either Dash nor PIVX, because for me the masternode concept is a very flawed technology.

I don't have good advice for how to play in the speculation area. It feels and looks like rolling dice or getting involved in collusion. If our efforts and energies will be expended on those activities, then altcoins will never accomplish anything important.

It is a mix of luck, the tech and circumstances. The psychology must have been "well... DASH is pumping bigly, and this is a DASH clone without all the dodgy premine shit, might as well buy it". The graph was stagnant so the buyer must have thought "it cant get lower than this anyway". There is the risk of a coin getting delisted tho, but those are usually the ones that move very small amounts of BTC.

It should be all about the tech, but markets are irrational as we know and speculators are eager to make money. And obviously whales can pump any small marketcap coin out of nowhere.

Let's hope your coin is an investment I can make thinking 100% im betting on something that brings actual value. I am unable to sleep comfortably at night holding any altcoin thus far. BTC is enough stress to risk let alone alts. I just want to hold a crypto where I can store value without thinking there are always clouds around the corner in the form of a HF, a smart contract DAO-tier debacle and whatnot. That should be the priority. Just give us something like BTC, without the constant storms brewing. If proper electronic cash can exist then everything will be built around it organically IMO. I still believe the killer app is decentralized money. If the PoW problem could be solved to avoid cartels from being formed then bitcoin would be it but that is not the case thus far as we know.

[European Central Bank]

Just give us something like BTC, without the constant storms brewing. If proper electronic cash can exist then everything will be built around it organically IMO. I still believe the killer app is decentralized money. If the PoW problem could be solved to avoid cartels from being formed then bitcoin would be it but that is not the case thus far as we know.

if it ain't centralised then there'll be power struggles. if it's worth something then greed is gonna descend on it with all the horrible behavior that entails. if there's a way to corrupt it, bend it, or use it for nefarious ends then someone will figure out how.

the ultimate crypto will be pure machine to machine and maybe they'll be kind enough to let us use it too.

[thejaytiesto]

Just give us something like BTC, without the constant storms brewing. If proper electronic cash can exist then everything will be built around it organically IMO. I still believe the killer app is decentralized money. If the PoW problem could be solved to avoid cartels from being formed then bitcoin would be it but that is not the case thus far as we know.

if it ain't centralised then there'll be power struggles. if it's worth something then greed is gonna descend on it with all the horrible behavior that entails. if there's a way to corrupt it, bend it, or use it for nefarious ends then someone will figure out how.

the ultimate crypto will be pure machine to machine and maybe they'll be kind enough to let us use it too.

Indeed, I can't fathom how to do it. All systems can be exploited. So far BTC is our best bet and core has the right idea by guaranteeing nodes are accessible to the common folk without big resources. LN has its problems but its still early and new things will keep popping, and at the end of the day it runs under a decentralized network of nodes which we can always fall back to in case LN fucks up (not so much if the network was centralized due big blocks that only corporations can handle).
Of course we still got the mining cartels problem. I wonder if rules at protocol level could be added to avoid cartels from forming so a single entity can't keep stacking up infinitely and monopolizing a huge chunk of hashrate. The idea I have breaks anonymity of mining participants so its pointless... yeah I dont know. Looks like it will take another satoshi-tier inspiration to bring it to the next level.

[bathrobehero]

What? I only see this at 0.0006btc on exchanges.
Where are people saying it's risen alot. Hasn't it been on the market for a week now?
Where are people getting these numbers from?

Today it briefly reached $1 per coin. A week ago it was $0.14 per coin and a month ago it was $0.03.

All similar coins are getting pumped though (Dash, EXCL, TX). But it's understandable why PIVX is the biggest winner of these pumps; it's not just a simple Dash fork, it did/does a whole lot of things completely differently.

I sold some off in the last few days but I still hold most I mined and staked.

[Zadicar]

What? I only see this at 0.0006btc on exchanges.
Where are people saying it's risen alot. Hasn't it been on the market for a week now?
Where are people getting these numbers from?

Today it briefly reached $1 per coin. A week ago it was $0.14 per coin and a month ago it was $0.03.

All similar coins are getting pumped though (Dash, EXCL, TX). But it's understandable why PIVX is the biggest winner of these pumps; it's not just a simple Dash fork, it did/does a whole lot of things completely differently.

I sold some off in the last few days but I still hold most I mined and staked.

This scenario does really happen on a certain coin that have good potential and lucky for those person who bought this while to its lowest price.I do regret on purchasing it because when i saw this coin i just said to myself that this is an another piece of shit coin. Too bad for me and should change my way or behavior treating altcoins. hahahaha

[iamnotback]

But it's understandable why PIVX is the biggest winner of these pumps; it's not just a simple Dash fork, it did/does a whole lot of things completely differently.

Help me understand your thinking. Please enumerate for me those very important different features?

Thanks.

[metropolia]

But it's understandable why PIVX is the biggest winner of these pumps; it's not just a simple Dash fork, it did/does a whole lot of things completely differently.

Help me understand your thinking. Please enumerate for me those very important different features?

Thanks.

No different, it is the simple fork, don't think it has many features, it has the features which dash has. The pump is caused by Dash's huge pump and hype.

[iamnotback]

But it's understandable why PIVX is the biggest winner of these pumps; it's not just a simple Dash fork, it did/does a whole lot of things completely differently.

Help me understand your thinking. Please enumerate for me those very important different features?

Thanks.

No different, it is the simple fork, don't think it has many features, it has the features which dash has. The pump is caused by Dash's huge pump and hype.

Thanks.

So basically it was that plus some BS that wasn't true like the other user was writing.

Typical FOMO mania driven.

Of course I saw PIVX rising and I thought that people were going to keep buying it because of the Dash connection. Speculators are copycats. If they hear the word "Bye" then they "Buy". That pretty much sums up how logical it is.

Then I saw @generalizethis making the argument that you can take revenge on Dash by buying PIVX. I figured that would send it over $1.

@thejaytiesto the problem is that you and I aren't speculators. We are investors. These guys aren't investing, they are speculating.

I don't want to invest in Monero, because I didn't like the community and I think anonymity only coins are dumb.  I didn't invest in PIVX because Dash is the stupidest design ever. I don't want to invest in Byteball, because even though I like the stability point algorithm as a clever innovation, there are other aspects of the coin which make it unlikely to scale up.

Speculators don't think that way. They see the positives only. I see the negatives only. If I was an expert speculator I would study charts and think about all the dumb people who are going to buy something. That is how you make money speculating. Learn to think like they do.

Because I am a programmer. And I expect more.

So I stay on the sidelines of all the shitcoins. But for speculators, they aren't shitcoins and have enough WoW and suitable WooF. If it barks like a FOMO and climbs like a FOMO then it must be a Tulip.

[DiCE1904]

Picked up a good amount under 12k sat after seeing someone post about it on twitter

[kingorbust]

I made 372k$ from this today alone. Feels like winning the jackpot in casino.

did you cash out? I am sure you see those epic dumps that happened in past  few hours.

[irukandji]

But it's understandable why PIVX is the biggest winner of these pumps; it's not just a simple Dash fork, it did/does a whole lot of things completely differently.

Help me understand your thinking. Please enumerate for me those very important different features?

Thanks.

No different, it is the simple fork, don't think it has many features, it has the features which dash has. The pump is caused by Dash's huge pump and hype.

Thanks. Of course I say PIVX rising and I thought that people were going to keep buying it because of the Dash connection. Speculators are copycats.

So basically it was that plus some BS that wasn't true like the other user was writing.

No it was true. They want to implement zero knowledge protocol, relying on the Zerocoin paper, rather than mixing.
They have something they call "seesaw" which adjusts the rewards between MN's and those just staking to stop some centralisation issues with Dash IIRC.

I think there are some other nuances but can't recall ATM

[iamnotback]

They have something they call "seesaw" which adjusts the rewards between MN's and those just staking to stop some centralisation issues with Dash IIRC.

I think there are some other nuances but can't recall ATM

Hope you don't mind but I am going to be a little be sarcastic just for making a point. I actually appreciate you sharing the information.

So they blabbered some technobabble BS lies to make everyone think that theirs was different and improved. Yet in reality it is same old worthless shit that isn't going to be used by anybody.

I'm not actually interested in going and figuring out why it is lies, but suffice it to say I've studied so many shitcoins that I can assure you with 98.62345678% certainty that it is BS.

How close it PIVX to implementing zero knowledge protocol? Many have tried.

[generalizethis]

They have something they call "seesaw" which adjusts the rewards between MN's and those just staking to stop some centralisation issues with Dash IIRC.

I think there are some other nuances but can't recall ATM

Hope you don't mind but I am going to be a little be sarcastic just for making a point. I actually appreciate you sharing the information.

So they blabbered some technobabble BS lies to make everyone think that theirs was different and improved. Yet in reality it is same old worthless shit that isn't going to be used by anybody.

I'm not actually interested in going and figuring out why it is lies, but suffice it to say I've studied so many shitcoins that I can assure you with 98.62345678% certainty that it is BS.

How close it PIVX to implementing zero knowledge protocol? Many have tried.

So spoetnik's fud first and let god separate them is your new take on research?

[decentralizd]

They have something they call "seesaw" which adjusts the rewards between MN's and those just staking to stop some centralisation issues with Dash IIRC.

I think there are some other nuances but can't recall ATM

Hope you don't mind but I am going to be a little be sarcastic just for making a point. I actually appreciate you sharing the information.

So they blabbered some technobabble BS lies to make everyone think that theirs was different and improved. Yet in reality it is same old worthless shit that isn't going to be used by anybody.

I'm not actually interested in going and figuring out why it is lies, but suffice it to say I've studied so many shitcoins that I can assure you with 98.62345678% certainty that it is BS.

How close it PIVX to implementing zero knowledge protocol? Many have tried.

Hmm. Some would call that ignorance. But whatever floats your boat sir.

[irukandji]

They have something they call "seesaw" which adjusts the rewards between MN's and those just staking to stop some centralisation issues with Dash IIRC.

I think there are some other nuances but can't recall ATM

Hope you don't mind but I am going to be a little be sarcastic just for making a point. I actually appreciate you sharing the information.

So they blabbered some technobabble BS lies to make everyone think that theirs was different and improved. Yet in reality it is same old worthless shit that isn't going to be used by anybody.

. Well I think they did what most coins do. There have been several coins out there that have copied the Master Node experiment, and they have traded at low capitalisations (I held some Transfer Coin for a while when it was maybe $20k MCap IIRC)

But for one reason or another the whales have taken this for a ride.

I suspect it is because they have a team (and they might be half competent..not sure).

1. They have a dev team
2. Zero knowledge is in fashion and a worthy experiment.
3. it does not have the dash baggage ( and thus the Dash risk)

This, and the interest in alts posed by the prospect of a bitcoin hardfork has been a perfect storm.
So, I'm not sure that the dev's have been any worse than most coins, but they got lucky in that the whales chose them
Or they might have good product (I dont know)...

[iamnotback]

but they got lucky in that the whales chose them
Or they might have good product (I dont know)...

Or "reasons".  

Betcha there are "reasons".

Any way congrats to everyone who earned an arm and a leg on this*. Fire up the barbecue (before the proceeds stink up the place).

* I don't know whose arm and leg, since apparently nobody loses money any more.