Oh, gee, what a surprise. All the exchanges are in the 0.002's. (Isn't that what I said we should be trading at weeks ago? (Because that's all the community can afford to support it.)) Now, instead of a healthy building valuation profile from 0.002 to 0.0029, UNO is looking piss-poor, and the most vested and interested parties have a loss for every purchase over that time period.
[tapping foot in anoyance]
It's not like I didn't try to communicate this to everyone. I haven't even participated in this market for weeks!
Buyers are in no hurry and are taking advantage of weak hands. I see a clear shakedown occurring. I would rather see Uno higher because, well, my pride -- I prefer a strong Uno. It makes it easier to get things done for Uno and to get attention of people if I can brag of a 500k market cap, good trade volume and a "top 50" ranking on coinmarketcap.
But I'm not too worried right now. On MP, UNO can be bought up to .004 with only 1.7 btc. And .005 is only 2.9 btc away. Wouldn't be surprised to see some big sell wells to try and push it lower. Someone wants cheap Uno.
I think what's happening is a continued transfer of Uno from weaker hands to whales who have a longer term interest in Uno.
The markets are very thin right now on both sell and buy side. Buyers keep moving down thin offers, and as long as people keep dumping into the lower price, they have further incentive to keep moving the buy orders lower, especially when it's so easy to bring Uno back up later.
I'm at a loss right now, but I could buy a helluva lot more Uno at .001 and lower my average buy price. My concern is for the community, that new traders will lose interest, and a low marketcap makes Uno look unimportant. And if volume drops too low on exchanges for too long, that could eventually be bad for Uno.
When the dumping stops, it will head back up. There's much less new Uno coming on the market. At least 1k Uno less has been generated since the switch to Kgw/3 min. blocks last month. And the coinex dumping is over, I feel quite sure about that. That's probably what's contributing to these thin markets.
That's my take, what's yours? Love to hear what you guys think.
This might be interesting to some of you hardcore traders.... it's Wolong's "book" and he mentions Uno. Take it for what it's worth. The guy has an ego so large he loves to brag about how he operates (or is this just more deception... hmm?) Decide for yourself....
https://bitcointalk.org/index.php?topic=686525.0 I thought it was fun to read.
