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Eastwind
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May 26, 2014, 04:41:48 PM |
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If the value is low when the D2D starts, then it is not optimal. The receipt might think it is not worth trading and keeping the coins. There could be a lot missing in the near future. That could in fact increase the value of the existing coins. Who knows.
Then the whales will pump and make profit.
The mining difficulty of MUN is about 14 at the moment. Mining revenue is much less than electricity cost. It does not make sense to mine and dump.
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coine_smithe
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May 26, 2014, 06:56:16 PM |
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Wow I'm not worried about this coin's future, but I just checked the dump you guys are talking about. Unreal. 200,000 coins sold at 150 satoshi? Maybe someone hit sell instead of buy? I can't think of any other explanation.
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dygus
Legendary
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Activity: 1193
Merit: 1000
Peaky Blinder
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May 26, 2014, 07:40:51 PM |
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Wow I'm not worried about this coin's future, but I just checked the dump you guys are talking about. Unreal. 200,000 coins sold at 150 satoshi? Maybe someone hit sell instead of buy? I can't think of any other explanation.
It is not good if one person bought such amount of coins |
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Eastwind
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May 26, 2014, 07:55:27 PM |
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Wow I'm not worried about this coin's future, but I just checked the dump you guys are talking about. Unreal. 200,000 coins sold at 150 satoshi? Maybe someone hit sell instead of buy? I can't think of any other explanation.
It is not good if one person bought such amount of coins I have to say, I own a lot of MUN now. I shall spend it in Malta in the next few years and enjoy a good holiday there. I did a calculation, at difficulty 15 and price of 150 satoshi, the revenue is 20% of electricity cost. I do not know who is going to mine and dump. |
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radi324 (OP)
Full Member
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Activity: 196
Merit: 100
Muniti creator
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May 26, 2014, 09:13:08 PM |
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I'm also worried someone is trying to undermine the value of the coin so as to damage it before the D2D phase. Hopefully this is not the case as it would be deplorable to say the least. We will renew our efforts even more thoroughly if that is what happened, as we won't allow such tactics to throw us off course.
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YBC
Newbie
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Merit: 0
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May 26, 2014, 09:20:36 PM |
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Also Radi - at first I was thinking: normal difficulty around 5, suddenly triples and huge dump - could that be a 51% and then the whale dumping their fork at any price? I don't think it was that, since they probably would have just kept dumping til the price hit rock bottom.... but is there some way we can confirm? Do you have cloud hash capacity set up as a precaution against such an attack?
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novag
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May 26, 2014, 09:25:09 PM |
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Most likely someone in the future to purchase and really started to believe in this underrated coin investing their btc and becoming an investor.
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Donate for the support of a new Martial arts Style - Aikivindo = Aikido + Wing-Chun (in Ukraine) 5168757318423326 PrivatBank. http://aikivindo.com.uaBTC:1DpRaQjdVmrkSopRV8p9RdwvBMWNA9faCS |
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YBC
Newbie
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Activity: 47
Merit: 0
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May 26, 2014, 09:34:40 PM |
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Presuming nothing ill is going on, it is healthy to see this increase in volume running up to the D2D: hopefully free market will find a stable price bottom
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novag
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May 26, 2014, 10:03:55 PM |
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Only now it will be the present unlike all the other coins.
And we'll see how it actually works. Now price is very cheap.
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Donate for the support of a new Martial arts Style - Aikivindo = Aikido + Wing-Chun (in Ukraine) 5168757318423326 PrivatBank. http://aikivindo.com.uaBTC:1DpRaQjdVmrkSopRV8p9RdwvBMWNA9faCS |
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YBC
Newbie
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Activity: 47
Merit: 0
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May 26, 2014, 11:15:02 PM |
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Do people actually manually trade this on bittrex/pol or is it just bots?
[whenever you place an order just above the highest other buy order everything else seems to suddenly change to go higher than you]
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Robert Lewandowski
Sr. Member
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Activity: 420
Merit: 250
Bayern
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May 27, 2014, 03:02:32 AM |
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What address is the Premine in? I want to check
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coine_smithe
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May 27, 2014, 04:13:55 AM |
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Do people actually manually trade this on bittrex/pol or is it just bots?
[whenever you place an order just above the highest other buy order everything else seems to suddenly change to go higher than you]
I believe Bittrex has an API for bots but I'm not sure about Poloniex. Most people don't use them though. There are plenty of small traders/investors who enter manually. |
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YBC
Newbie
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Activity: 47
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May 27, 2014, 09:20:27 AM |
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There's a huge 417,000 muniti sell order on bittrex... so someone with 20% of the mined coins is trying to sell out?
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radi324 (OP)
Full Member
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Activity: 196
Merit: 100
Muniti creator
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May 27, 2014, 09:26:52 AM |
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There's a huge 417,000 muniti sell order on bittrex... so someone with 20% of the mined coins is trying to sell out?
Read up further in the thread. Something strange has been going on yesterday and no coins from cold storage have been touched, as confirmed. We are trying to determine if there has been a fork of some sort but so far nothing has shown up. |
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Eastwind
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May 27, 2014, 09:43:17 AM |
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There's a huge 417,000 muniti sell order on bittrex... so someone with 20% of the mined coins is trying to sell out?
That could be somebody try to suppress the price to be below 900 so they can buy cheap. So the circulation market cap of MUN is just 18 BTC? |
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ol92
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May 27, 2014, 09:49:47 AM |
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What address is the Premine in? I want to check
extract from the first post : The address for first maildrop is mWuwabhbmNHyYNLbQ8pzYfnFymHm5JicXf. The address for the bounties is me4HkydLYfdH3PP2oDudqRYnpFvxuCL3K2. The rest of the reserve for the other distributions is situated in magsvXHxvJhN3i3pEoSCPGJr5VwzFVgkrF. |
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radi324 (OP)
Full Member
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Activity: 196
Merit: 100
Muniti creator
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May 27, 2014, 10:16:15 AM |
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We just finished testing a number of paper wallets and everything seems to be in order. We'll have them settled and printed by Monday; it will be a bit tight but that is the earliest we can manage with the printing company who we're operating with.
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Eastwind
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May 27, 2014, 10:22:37 AM |
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Malta GPU was $9544 million in 2013. If 1% of that can be represented by MUN, that would make 1 MUN $1.3. 156 MUN will be distributed to each household, that is $196 per household. However, at present price of $2.275/1000, that is only worth $0.3.
I hope Maltese people have long term view of their financial freedom.
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YBC
Newbie
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Activity: 47
Merit: 0
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May 27, 2014, 11:45:13 AM |
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There's a huge 417,000 muniti sell order on bittrex... so someone with 20% of the mined coins is trying to sell out?
That could be somebody try to suppress the price to be below 900 so they can buy cheap. So the circulation market cap of MUN is just 18 BTC? I think this is probably the most likely case: If they wanted to get the maximum price for their coin they would split between poloniex and bittrex and disguise the fact that they are a whale. If they are someone with large resources they can keep pressure on the price to be low in the run up to the D2D - mining/ buying up cheap coins, then after pull out all their sell wall and rocket the price with low supply on the market. |
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YBC
Newbie
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Activity: 47
Merit: 0
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May 27, 2014, 12:03:00 PM |
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What address is the Premine in? I want to check
extract from the first post : The address for first maildrop is mWuwabhbmNHyYNLbQ8pzYfnFymHm5JicXf. The address for the bounties is me4HkydLYfdH3PP2oDudqRYnpFvxuCL3K2. The rest of the reserve for the other distributions is situated in magsvXHxvJhN3i3pEoSCPGJr5VwzFVgkrF. I don't think those addresses line up with this? http://chainz.cryptoid.info/mun/#!rich The total of the top 5 addresses is additively what I would expect for all the premine. At first I was thinking 2 of those would have to be poloniex and bittrex - but maybe they spread out over smaller wallets for safety. |
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