why does everyone jump to sell these coins so quick. If you hold of your sell orders you will build demand for the coin raising the price. If you fill the sheet with your sells as quick as possible you flood the market with the coin and the price goes down.
People have different time constraints, required returns, and expectations of how any given coin or market will react. Also, it's not presently possible to control the actions of everyone else and restrict economic free-flow of goods (maybe some coin will do this in the future?). With that said, these various constraints will cause users to monetize their positions from mining by selling the product they mined as quickly as possible. I think this is a GREAT coin and truly unique concept, but I still need to generate revenue from my mining activity, and can't speculate on the future value of this or any coin at the moment. I assume many other "miners" take a similar approach.
Can someone explain the current market rate? (0.01BTC = 25PX = 40,000 satoshi/PXL)
Let's say PXL has a market cap of $500K USD in the near future with total 2,073,000 PXL coin cap.
Each PXL would then be worth $0.24 USD or 28,750 satoshi (0.00028750 BTC/PXL). Now, this is based on an extremely optimistic outcome, good recognition by media, community, internet, etc. Most on CMC average $500K...
People are already trying to sell the coin 40,000 satoshi and the coin is 1 day old. There's a reason why no one is willing to accept your stupid sell offers
How'd you come up with a 500k USD market cap? I could just as easily assume it will be a 100MM USD market cap and have outrageous assumptions on valuation.
I think most people are basing their valuation on the goals set forth in the announcement of a concept comparable to the $1,000,000 dollar website of 2005. Marketing is a pretty big industry. Companies are willing to pay a lot of money each year through various advertising avenues. Owning PXL is effectively owning a piece of internet real-estate. You could even lease your pixel space out to companies if you wanted to (theoretically). I personally think PXL is worth far more than .4btc / 1000pxl, but that's the nature of the business we're in. You're free to buy pixel if you feel it is appropriately priced. Otherwise, you can pass. Up to you.
