Yes price was high but I can assure everyone that none of the developers sold his coins, any single one. I had about 32BTC in MEOW and didn't sold and time will show to me and to everyone that I played smart. Remember, for all coins who are popular now people had to wait 2 years. MEOW will be one year old in few days
This year showed us lot of greed and no patience.
Let me try to describe in short what happened:
Max Keiser or whatever his name is, he is the man who destroyed most of the coins. Kittehcoin is destroyed by him in just 3 days. First he invested, next day started to promote MEOW on RT then dumped, laughing to our hard work again on RT. At the time when all of that happened people trusted him but they didn't know what he did to feathercoin few months earlier. But as one of my friends told me(who has lot of confrontations with Max) big investors work in circles and all the time they get back to some coin after they buy a lot of them at small prices.
Another thing, if you look to all LTC traded coins on cryptsy you will notice that there are only few who don't need too much LTC to pump up the price, MEOW is one of them, creating pump there is way too easy...
Talking about KNC, as you know what happened to the people who received their Titans, it is quite nightmare for them right now, they can mine about 3.7LTC per day with their power machines, soon enough those machines will worth nothing and all of them will mine some scrypt, nscrypt coins. What can I say, I had argue with them on KNC forum because they mine EXEcoin who is not profitable at all because they don't know what to do, what to mine to recover from bad investment, even vertcoin is changing algo
Imagine they didn't calculated that there is something called difficulty and that it is the same to mine EXE coin with 100MH/s nscrypt and with 5 280X where is no ASIC there
At the time when I received my KNC SHA256 miners they didn't worth anything. Only winner is KNC.
Just one of those machines is enough to give huge boost to MEOW network. Strategy goes like this, 200MH/s machine will cost 100Euros in 2 month, let's say I buy it and put it to MEOW, no one will be able to mine MEOW anymore, and I m constantly buying it. Calculate for yourself.
if price rises mining is more profitable again. Right now not traders, not miners and not investors make a big profit. It's not big profit in it for anyone right now.
I am sure Kitteh will not die on the other hand. So it's pretty good to buy right now i think.
Why not together buy it all up slow and steady?
Someone just dumped a few (50m) last hour on cryptsy. As long as there are people selling so many this cheap it won't go nowhere. People with sense for success and longterm holding need to buy these dumps and hoard the coins away to later sell them not at once but slowly in small amounts. This behaviour will help the price. Right now i buy all i can get below 20 litoshi because once these prices are gone they will not come back again and in 3 months you maybe wish you would have loaded up on the coins during these times. All altcoins look very bad right now. They are pretty oversold. I see big potential for later profit not only in kitteh. All the coine struggle, many died. The ones that survive (and kitteh is one of them) will make very good profit in 2015 i believe.
Right now it is 1LTC maybe 2LTC for all miners of this coin in a day. That's not even 10$ they need to split between them.
From the inflation aspect this is very easy to hold price if we have not too many stupid big bagholders who dump progress down again. And even if we had them - they just cost time. This prices are so low if we can have/create a constant demand greater than the daily inflation this has to rise in the long run. Right now we can have more demand than supply very easy. Especially since halving 2 days ago and next halving soon again. Kitteh will rise, no doubt. Maybe not to the moon immediately but maybe later. A little rise during next weeks/months should be possible though.
Make some advertisement. New people and new money come in slowly. They need to know Kitteh too while we keep buying at least the daily inflation every day (all community needs to buy at least 10$ worth every day) - i think we can do that. I will continue to buy 2$ to 5$ of coins every day in average. If only 2 or 3 other people do the same it rises slowly already. It's really not hard to do. Patiently doing this will win in the end.
No pump and dump but real slow rise to build on that later.
And then in the end mining is profitable again too
all this thinking does not even include the possibility of larger investors coming in which could also happen anytime.
