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Author Topic: YAC is about to RALLY in BTER  (Read 1944 times)
jomay
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May 14, 2013, 05:06:24 PM
 #21

I guess this is the distribution phase when people owning lots of YACs dump them to other people/traders. These new traders will have the current price as a reference price and are more likely to wait for better prices to sell.

As total YAC supply is roughly 2.6Mio and as we see 100.000 YAC buys in the order book I wonder how long this distribution phase will last.

To be honest, I am surprised at the size of the buy orders. I wonder about their motives. I'd love to see sb. buying up most of the free coin supply (e.g. 300k YAC or so?) and then invest some serious developer time to put YAC on a more solid ground. First make sure the codebase is solid, fix possible bugs and explain the difficulty adjustment algo. This will provide the necessary confidence for other potential miners/investors. Then maybe create a difficulty and profitability calc website, price and difficulty charts, block explorer etc.

But I have to admit, I am biased and own some YAC.

BTC 1NoV8NFSB7eiuK2aABFtBTdUdXhbEdG7Ss
LTC LaFyWSfzKY7CKwwmbxhyf8S2iJvfT7JFtL YAC YKKwR5B64Z9ww971J42vEGVPaema623Tz6
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R_Lem
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May 14, 2013, 05:25:03 PM
 #22

I guess this is the distribution phase when people owning lots of YACs dump them to other people/traders. These new traders will have the current price as a reference price and are more likely to wait for better prices to sell.

As total YAC supply is roughly 2.6Mio and as we see 100.000 YAC buys in the order book I wonder how long this distribution phase will last.

To be honest, I am surprised at the size of the buy orders. I wonder about their motives. I'd love to see sb. buying up most of the free coin supply (e.g. 300k YAC or so?) and then invest some serious developer time to put YAC on a more solid ground. First make sure the codebase is solid, fix possible bugs and explain the difficulty adjustment algo. This will provide the necessary confidence for other potential miners/investors. Then maybe create a difficulty and profitability calc website, price and difficulty charts, block explorer etc.

But I have to admit, I am biased and own some YAC.

My thoughts exactly.

I'd love to see sb. buying up most of the free coin supply (e.g. 300k YAC or so?) and then invest some serious developer time to put YAC on a more solid ground. First make sure the codebase is solid, fix possible bugs and explain the difficulty adjustment algo. This will provide the necessary confidence for other potential miners/investors. Then maybe create a difficulty and profitability calc website, price and difficulty charts, block explorer etc.

....especially this  ^. Which may be what we are seeing. But they'd have to take me with them because I'm not selling these cheap. The MOON or BUST.
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May 14, 2013, 05:27:31 PM
 #23

Someone really needs to get YAC's on BTC-E. Also as mentioned above, pocopoco needs an active dev team.
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May 14, 2013, 05:28:59 PM
 #24

Well, that's how it is... they probably think - I mine loads of these, better to sell them and bank immediately than to worry about it. Everyone has his strategy, you can't fight that.

I've expected btc-e to pick it till now to be honest though

Quote
The MOON or BUST.

Same here, first coin I had lot of them so it will be good or it won't be at all. And if it would be not at all, I'll be fine.

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May 14, 2013, 05:38:46 PM
 #25


Someone(s) are ammassing and Hoarding YAC.



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larkstongues
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May 14, 2013, 05:41:48 PM
 #26

Quote
The MOON or BUST.
Same here, first coin I had lot of them so it will be good or it won't be at all. And if it would be not at all, I'll be fine.

+1

pm for tech support
R_Lem
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May 14, 2013, 05:50:15 PM
 #27


Nice.. now I'm blasting all the Dave Clarke youtubes through the house.
fenican
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May 14, 2013, 05:55:26 PM
 #28

YAC is pretty much dead at this point
jomay
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May 14, 2013, 06:21:01 PM
 #29

WindMaster proved that he is making a lot of YAC but have no clue whatsoever why dumping his bags works directly against him.
Hmm, I might be overly skeptical, but I didn't see a proof yet of his mining power. If he mined a lot it must have been solo. He is not one of the top-30 contributors on http://yac.dontmine.me/.

18:51:15 "moneysupply" : 2705391.28305000,
19:53:13 "moneysupply" : 2706811.00305000,

Around 1500 YAC generated in 1 hour. That much was generated in like 30 seconds at the launch due to few seconds block time and 100 YAC per block reward.

Be stupid, go to exchange and sell your YAC at 0.005 or less, the same price YAC started selling around here not much longer after launch, then complain it is not profitable anymore.  Cheesy

I only partially agree. The value (of YAC) does not majorly depend on its coin generation rate at this point. It helps, but that won't generate value by itself.

1500 YAC are roughly 100$, so the YAC network currently requires 2400$/day to maintain a stable price and the whole money supply of YAC coins is valued at 180k$.
FTC generates 115kFTC/day = 16800$/day and is valued at 860k$.
LTC generates 28800LTC/day = 86k$/day and is valued at 53 Mio USD.
Of course there is much more trust and interest in LTC.

The latter point is crucial: people will only invest and be interested in YAC if they trust that their investment is safe, i.e. 1) the codebase is bug-free and 2) the network is robust to 51% attacks and drops in hash rate.

I find the last point an important and interesting one. YAC does not compete with LTC for hash rate and hence won't die a Feathercoin death by coin hoppers.

BTC 1NoV8NFSB7eiuK2aABFtBTdUdXhbEdG7Ss
LTC LaFyWSfzKY7CKwwmbxhyf8S2iJvfT7JFtL YAC YKKwR5B64Z9ww971J42vEGVPaema623Tz6
jomay
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May 14, 2013, 06:22:14 PM
 #30

YAC is pretty much dead at this point

Read my previous post. The good thing about YAC is that it can hibernate easily at a relatively low cost. YAC is more alive than FTC.

BTC 1NoV8NFSB7eiuK2aABFtBTdUdXhbEdG7Ss
LTC LaFyWSfzKY7CKwwmbxhyf8S2iJvfT7JFtL YAC YKKwR5B64Z9ww971J42vEGVPaema623Tz6
R_Lem
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May 14, 2013, 06:22:50 PM
 #31

WindMaster proved that he is making a lot of YAC but have no clue whatsoever why dumping his bags works directly against him.
Hmm, I might be overly skeptical, but I didn't see a proof yet of his mining power. If he mined a lot it must have been solo. He is not one of the top-30 contributors on http://yac.dontmine.me/.

At one point he was at about 10k coins a day.
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May 14, 2013, 06:40:15 PM
 #32

YAC is pretty much dead at this point

It's not dead but it would really shock me if it suddenly experienced a big spike up in price. What happened with Feathercoin and it's price shooting up so quick was an anomaly. It was a bubble anyway, as proven by the subsequent price crash losing 75% value.

I'm doing the same I do with all my coins... hold. I mined them on day 1 in the first couple of hours so it's a freeroll for me.

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turtle83
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May 14, 2013, 06:42:48 PM
 #33

As total YAC supply is roughly 2.6Mio and as we see 100.000 YAC buys in the order book I wonder how long this distribution phase will last.

Way too many YAC were generated early due to low starting difficulty and most of those holding them are noob traders who probably already cashed-out and are now mining some
of those crapcoins that came out after YAC. That part of the story is great since those who bought YAC at 1000 for 15 LTC or so got those coins very cheap actualy, but problem I
see is that those who are making the most YAC even now have no clue about markets. WindMaster proved that he is making a lot of YAC but have no clue whatsoever why dumping
his bags works directly against him. Not sure if turtle83 is still mining YAC but he is noob trader as well, who was surprised YAC price went from 15 LTC to 30+ LTC just few hours
after he removed his massive sell wall off the Google YAC / LTC exchange. It would be awesome if we could get rid off people like those two or educate them about how market works
but I think that would be a hard task since they are oblivious of the effects of their own actions.

Lost cases have the most money today and that is why everything is pretty much lost.

Hey! I improved after u educated me. Not doing n00b things anymore. btw what happens in PM stays in PM!

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May 14, 2013, 06:44:08 PM
 #34

Rally to the crypto-paradise... Sad

WindMaster
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May 14, 2013, 07:27:16 PM
 #35

That part of the story is great since those who bought YAC at 1000 for 15 LTC or so got those coins very cheap actualy, but problem I
see is that those who are making the most YAC even now have no clue about markets. WindMaster proved that he is making a lot of YAC but have no clue whatsoever why dumping his bags works directly against him.

Eh?  I'm still sitting on every YAC I mined since the beginning.  In fact, I've now increased my YAC holdings to about 3x the total I've mined by taking advantage of the panic sellers on BTER.


It would be awesome if we could get rid off people like those two or educate them about how market works
but I think that would be a hard task since they are oblivious of the effects of their own actions.

Lost cases have the most money today and that is why everything is pretty much lost.

Yeah, nice.  Thanks.  On what basis have you decided that I've sold a single YAC, hmm?  Did you see me on the Google Docs spreadsheet anywhere, even when it became apparent I was raking in the YAC with a massive server farm + an equally massive Amazon AWS farm, despite getting an 8.5 hour late start after the coin launched?
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May 14, 2013, 07:33:32 PM
 #36

maybe he meant bob. Huh Cool Huh
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May 14, 2013, 07:35:34 PM
 #37

I'm holding my YAC until the YAKs come home. When they do it will be a nice payday Smiley

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May 14, 2013, 08:06:38 PM
 #38

Correct, it was not you but fenican. He had serious hashpower at one of the pools, was dumping his bags, complained about low price (LOL) and went mining other altcoins.

https://bitcointalk.org/index.php?topic=202601.msg2116826#msg2116826
https://bitcointalk.org/index.php?topic=202619.msg2133239#msg2133239

Sorry!

Thanks, apology accepted.  I edited my post above to tone down my response.
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May 14, 2013, 08:23:16 PM
 #39

i have dumped 1.6k at .00068 but waiting for dumpers to 0.00030
then i will load 50k

now mining 10 a day  lol

i have mined 3k total though Smiley
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May 14, 2013, 08:35:34 PM
 #40

i have dumped 1.6k at .00068 but waiting for dumpers to 0.00030
then i will load 50k

now mining 10 a day  lol

i have mined 3k total though Smiley


On BTE-E

FTC is 0.00125

and

CNC is 0.00096


YAC at 0.00068 seems like a huge buying opportunity to me... but only the markets will tell I suppose.
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