looks like the price on coinedup is being driven down by small sell orders for low amounts. If you take a look at the sell orders they are pretty weak with the occasional bump and could quite easily be pumped - my last btc however went into buying up KDC after the fork fix.
If you look at coinedup the sells are pretty small and could be eaten up by the smallest of pumps all the way up to 15.5k satoshis where we hit a 9btc wall, sadly pumps don't usually happen on coinedup (I dont think). We really need to push to get on mintpal, once the price of KDC is pumped we should find a new floor at a more reasonable price that will attract more miners and more buyers will take notice of us and it will hopefully snowball from there.
About 2 BTC would take us up to the 4btc sell at 8000 sat, just need to be on somewhere like mintpal for that to actually hold
https://i.imgur.com/jnlN0kr.pnghttps://i.imgur.com/eW8tpl3.pngYes all those sell orders at higher prices than the best BID are driving prices down!
The lack of liquidity and market confidence are driving the price down.
A pump only leads to a dump leaving someone holding worthless coin.
The facts remain that the reward system that is designed to support the network hash which is ecentially the life blood of a crypto coin was destroyed, that destruction will bleed over to the market place.
Listing the coin on more and more exchanges is also counterproductive since you just spread a finite pool of buyers and sellers even thinner. It's not as if market participants on Exchange X are unaware of CoinedUp.
If you think of a coin as a company, the devs as the executives, and the pools containing all the workers what the fork did was layoff 2/3 of the work force and cut the rate of pay by 80 percent for everyone that is left. When the dust settles in a week the net hash of this coin will be 100Mh or less since the market rate in the coin universe is just under $5 USD/day for 1 Mh/s day.
Without reducing the block time or increasing the reward, the coin is just going to slide into the bin.
You all can ignore me if you want or claim I am not contributing, but while I'm currently not mining this coin I still have open buy and sell orders supporting higher prices and I'm doing my best to keep this thread mindful of market realities. Markets just to not behave in the way we wish them to, and talking of Pumping the coin further erodes confidence of the coin as a store of wealth.
