[ANN] Blacknet BLN | Staking | Future of zApp & ZeFi

[k-meister]

The same person or group has been dumping at just under 9k for 15 hours now! They stopped for an hour a couple of times. That is one hell of a lot of blackcoins.

How would you know that it is the same person?

I've watched this and interacted with it for about 14 hours, the shape of much of the graph has been affected by my interaction with the dumper (I did about 10% of todays bc volume on mintpal).

1) When it takes a break, it stops suddenly in an on/off way. All sell orders will stop at the same time and the market recovers. Then a while later it suddenly switches back on. Clearly 1 person is commanding it.
2)  I've seen what I think is the same person before on other coins. They choose a target number and reaching that number is always in near sight but impossible. Every time you buy another sell order pops up a few seconds later (its done by bot, probably browser extension). After a while the number will drift slowly down over time, but if more than one person/team was dumping it then it could not possibly be this uniform and controlled.
3) The sell list order amounts will all randomly flick up and down, there's no way multiple sellers just happen to all be changing their sell amounts so often.

so... how do we kill the beast?

It's good that most people are in agreement that there is a “BlackCoin Monster” doing a controlled dump, here are a few of my thoughts:

1) I think the monster is doing it to get rid of its holdings at a profit rather than to control price. Controlling price by selling seems ultimately futile. It is not using big sell walls which it doesn't want to sell, but rather a bot to insert lots of small sell orders dynamically. Looking at the sell order list does not show the massive scale of the dump, so I think it's being hidden to keep people buying into it.

2) It surely has to run out of coins eventually. Its goal is actually similar to ours, it wants to get rid of its coins and we want to buy cheap coins. The way to kill the monster is to do what it wants and keep buying. It's just that there's so many of the coins it's causing problems.

3) This monster has a LOT of coins. I own 2% but it seems to have a lot more than I do.

4) When the monster has dumped for a while the market volume slows and eventually grinds to a halt. People stop buying when they see the price not moving, even though it's good for them if they can get cheap coins instead of expensive ones. Then usually the monster moves the price down a little to stimulate things. The only way to keep the market moving is to either raise or lower the price.

5)  I believe this is the same dumper who dumped on SpainCoin a couple of weeks ago and destroyed it (see my previous post on this in my account profile). SpainCoin had a surge of optimism and a big push upwards from 0.00028. Then this dumper kicked in selling at just under 0.0008. It stayed like this for many hours, then slowly the price went down. The dumper stopped dumping around 0.00045, but it was too late by then and everyone had lost confidence and the coin never recovered.
I don't believe there's a chance of the BlackCoin community losing confidence and killing the coin (SpainCoin was toilet paper and had no community) but I can see hurdles ahead if this keeps going and the price lowers or the momentum is killed. There could still be quite a bit of lost confidence temporarily.
The bot software on the SpainCoin dump worked very much like this “BlackCoin monster” bot does. The situation was also similar – the SpainCoin dump happened just after a pre-publicised event designed to push the price up so people bought into it - like Black Friday was (the SC event was a fork with a new mining algorithm).

[Jilixi]

Is there a need for online wallet in Black Coin?

YES!!!!!!!!!!!!!!

[johnngbluntzky]

i like the devs and the community, but sooner or later someone has to point out; this coin has already risen over 1900% in value. what makes people have such wildly speculative opinions about blackcoin's future price?

[zeta93]

i like the devs and the community, but sooner or later someone has to point out; this coin has already risen over 1900% in value. what makes people have such wildly speculative opinions about blackcoin's future price?

BlackCoin is Great, but always can be a new better coin tomorrow
will attract all buyers, Altcoins are trading coins, just to make profit for a short time
dreams will make you lose your reality.

[heartastack]

i like the devs and the community, but sooner or later someone has to point out; this coin has already risen over 1900% in value. what makes people have such wildly speculative opinions about blackcoin's future price?

LoL... There's over 600 pages you can read to answer you question. And how much % have the other successful alt coins gained in value? Hint - 10000% +, sometimes in a matter of months.

Look at the market cap and volume, not the price.

[johnngbluntzky]

i like the devs and the community, but sooner or later someone has to point out; this coin has already risen over 1900% in value. what makes people have such wildly speculative opinions about blackcoin's future price?

LoL... There's over 600 pages you can read to answer you question. And how much % have the other successful alt coins gained in value? Hint - 10000% +, sometimes in a matter of months.

Look at the market cap and volume, not the price.

i'm looking at more factors than that. there was the cr incident, and some asshat in this thread is trying to recruit large holders for price fixing in the name of helping a coin.. which is an absolutely ludicrous idea. time always tells i guess, but i ain't against ya, i'm holding since 4500.

[zwiggelbig]

For early investors,  what do we need to fund the most?  a Android wallet?  Or push to get BC accepted by merchant payment gateways?

No rushes. We're in a good position right now with current developments and the state of the community.

I personally would be interesting in funding the following
1) Android wallet
2) Wallets with 2FA authorization option

I'm not really interested in merchants right now because BC is still very young, and merchants will come to us after BC continuously makes crypto headlines. But others can feel free to fund that if they wish. The BC Foundation is already doing a lot, but without a premine, they need help. And that's where we come in and really help out and help double up the amount the BC community can produce (and what's already doing is nothing short of amazing).

2FA enabled wallet is an awesome idea. I spoke to a programmer about it a week ago and he's looking into Yubikey-integration in the form of an add-on. But it would be great to already have this built into our standard client. In fact, it would be a brilliant selling point for the coin, yet another reason making Blackcoin superior to all other alts. Let's make this a high priority!

do you mean 2fa on the normal wallets on your pc? Cozz that would be awesome. Making us even more diffrent then any other coin. And yea an android wallet with 2fa Authorization would be AWESOME

[thenukemforall]

+ 1, this would be a great feature

[heartastack]

i like the devs and the community, but sooner or later someone has to point out; this coin has already risen over 1900% in value. what makes people have such wildly speculative opinions about blackcoin's future price?

LoL... There's over 600 pages you can read to answer you question. And how much % have the other successful alt coins gained in value? Hint - 10000% +, sometimes in a matter of months.

Look at the market cap and volume, not the price.

i'm looking at more factors than that. there was the cr incident, and some asshat in this thread is trying to recruit large holders for price fixing. time always tells i guess, but i ain't against ya, i'm holding since 4500.

If the multipool fails/flops and volume drops due to lack of interest, and no further development occurs to incentivise merchants or actual use/transacting then yes it will fail.

So far each of these factors are in their VERY early stages, so the current price is based on speculation that some or all of these will be a success. The only fundamental that has been accurately priced in is the stablility of the code / PoS and distribution.

If the stars align and the multipool + development + volume + incentives all align like stars then there will be a moon shot for sure. I'll be the first to cash out at signs of weakness of that model.
We are still in the high risk = high reward stage, but it is maturing as we will know very soon the outcome.

[zwiggelbig]

Help!! I unlocked my wallet. And on the bottom right it says its encrypted and unlocked but I just tried sending to someone and I did not had to fill in a password how do I fix this fast?

[Charloz24]

Close the wallet then reopen it, it should be relocked.

[johnngbluntzky]

i like the devs and the community, but sooner or later someone has to point out; this coin has already risen over 1900% in value. what makes people have such wildly speculative opinions about blackcoin's future price?

LoL... There's over 600 pages you can read to answer you question. And how much % have the other successful alt coins gained in value? Hint - 10000% +, sometimes in a matter of months.

Look at the market cap and volume, not the price.

i'm looking at more factors than that. there was the cr incident, and some asshat in this thread is trying to recruit large holders for price fixing. time always tells i guess, but i ain't against ya, i'm holding since 4500.

If the multipool fails/flops and volume drops due to lack of interest, and no further development occurs to incentivise merchants or actual use/transacting then yes it will fail.

So far each of these factors are in their VERY early stages, so the current price is based on speculation that some or all of these will be a success. The only fundamental that has been accurately priced in is the stablility of the code / PoS and distribution.

If the stars align and the multipool + development + volume + incentives all align like stars then there will be a moon shot for sure. I'll be the first to cash out at signs of weakness of that model.
We are still in the high risk = high reward stage, but it is maturing as we will know very soon the outcome.

.

well stated. i guess i agree on your points. i just hear wild speculation here is all. but.. i guess that's the norm for any coin.

[zeta93]

i like the devs and the community, but sooner or later someone has to point out; this coin has already risen over 1900% in value. what makes people have such wildly speculative opinions about blackcoin's future price?

Altcoins are designed to make miners and pools survive
buyers should look to their own interests, if you can get 10% profit from a coin weekly, do it and don't think too much, one day devs will dump all their coins, take your cash, and leave you with digital code and huge dreams.

[Charloz24]

What all this FUD this morning? People angry that BC isn't 10 000 + sats?? I really like what I see, small steady increase instead of huge spike and falls....

[johnngbluntzky]

What all this FUD this morning? People angry that BC isn't 10 000 + sats?? I really like what I see, small steady increase instead of huge spike and falls....

hope you ain't referring to me.. i asked an honest question, was given a valid response, and agreed.

maybe you meant the guy with the bot theory.. yea i don't buy that one. who would wanna hold a coin down when they could uncap it and sell way higher? nobody. nobody smart anyways. if they were smart enough to bot sell, they would be smart enough to bot sell higher. i would assume.

[phaddie]

Any news on why there was no payout last night?

[heartastack]

i like the devs and the community, but sooner or later someone has to point out; this coin has already risen over 1900% in value. what makes people have such wildly speculative opinions about blackcoin's future price?

LoL... There's over 600 pages you can read to answer you question. And how much % have the other successful alt coins gained in value? Hint - 10000% +, sometimes in a matter of months.

Look at the market cap and volume, not the price.

i'm looking at more factors than that. there was the cr incident, and some asshat in this thread is trying to recruit large holders for price fixing. time always tells i guess, but i ain't against ya, i'm holding since 4500.

If the multipool fails/flops and volume drops due to lack of interest, and no further development occurs to incentivise merchants or actual use/transacting then yes it will fail.

So far each of these factors are in their VERY early stages, so the current price is based on speculation that some or all of these will be a success. The only fundamental that has been accurately priced in is the stablility of the code / PoS and distribution.

If the stars align and the multipool + development + volume + incentives all align like stars then there will be a moon shot for sure. I'll be the first to cash out at signs of weakness of that model.
We are still in the high risk = high reward stage, but it is maturing as we will know very soon the outcome.

.

well stated. i guess i agree on your points. i just hear wild speculation here is all. but.. i guess that's the norm for any coin.

Well.. that's just part of the fun really, and usually coming from people who probably threw 50 bux at it an think it's like a greyhound track (which it does feel like at times!), but cutting the crap what do people really know? Nothing is what.
All I know is that I invest on a model and continually analyse the health of that model. A crazy speculative community gives the community part of the model points, so I like it. But the multipool still hasn't prooved anything, so I am worried about that, it has scored no points on my model.
Will breathe a sigh of relief when/if we get positive data. In other words, I hope we haven't pumped BC way past what the multipool can handle.

[Charloz24]

Any news on why there was no payout last night?

On the blackcoin multipool news page:

Payouts are stuck again on Cryptsy.

A small part of the Scrypt payouts is stuck in Pending Withdrawal limbo on Cryptsy. The moment the BC hits the pay out wall out it will automatically get dispursed.

We apologize for this inconvenience, but this is unfortunately out of our hands, as we have to use Cryptsy to sell some of the alt-coins we mine. This is unfortunate, but there's nothing we can do about it at all.

[phaddie]

Any news on why there was no payout last night?

On the blackcoin multipool news page:

Payouts are stuck again on Cryptsy.

A small part of the Scrypt payouts is stuck in Pending Withdrawal limbo on Cryptsy. The moment the BC hits the pay out wall out it will automatically get dispursed.

We apologize for this inconvenience, but this is unfortunately out of our hands, as we have to use Cryptsy to sell some of the alt-coins we mine. This is unfortunate, but there's nothing we can do about it at all.

Cheers, thanx.

[UdjinM6]

Any news on why there was no payout last night?

On the blackcoin multipool news page:

Payouts are stuck again on Cryptsy.

A small part of the Scrypt payouts is stuck in Pending Withdrawal limbo on Cryptsy. The moment the BC hits the pay out wall out it will automatically get dispursed.

We apologize for this inconvenience, but this is unfortunately out of our hands, as we have to use Cryptsy to sell some of the alt-coins we mine. This is unfortunate, but there's nothing we can do about it at all.

What a coincidence... Cryptsy always have problems in the "right" time