[ANN][KARM] Karma / ₭ / X11

[p4r4m0un7]

This dump is well calculated. It is to prove what I have told you that money spinners don`t mind if the market is LTC or BTC. This is why I insisted to push for BTC market when possible. At least it will be more expensive to speculate there.

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[CatKiwi]

This dump is well calculated. It is to prove what I have told you that money spinners don`t mind if the market is LTC or BTC. This is why I insisted to push for BTC market when possible. At least it will be more expensive to speculate there.

Well at least we now know that the rise in price was in fact a pump n dump. I have to be honest, I was pretty convinced we were on our way to the moon there, but it seems we a destined to spend a bit longer in the 30s. No big deal I suppose.

[Alphi]

This dump is well calculated. It is to prove what I have told you that money spinners don`t mind if the market is LTC or BTC. This is why I insisted to push for BTC market when possible. At least it will be more expensive to speculate there.

I wouldn't say it was well calculated... it wasn't well coordinated that's for sure.. unlike the pump, it didn't happen on both crapsty and mintpal. so the modus operandi is different.
the price on crapsty has not fallen so if it was a calculated dump then it has clearly failed.

as I have stated before.. it is more than likely Scrypt miners (probably in china) looking to cash in on the recent rise.

the pumpers are still there... and noticing this trend of selling overnight and buying during the day US time..they are even more likely to pump again.

just something to take note of if you want to trade swings..

I don't think opening up a BTC market would make much of a difference at this point.. so I think I am agreeing with you there.

there were some 200+ litecoins (100 on each exchange) used to start the latest pump.. those coins did not go into buying Karma so no doubt they are available for the next pump.

[learminer]

To the guy/gal(s) walling at 49 - that looks damn tasty, I have serious doubts that wall is going to survive the day.

[Chargin]

http://www.reddit.com/r/Karmashares/comments/24r22p/question_whats_going_on_with_pos/

Can you provide an update on this please?

What are the current plans?

Given the impact of this I believe it should be discussed more.

Thanks.

Chargin.

ya know the current price stability is very clear indication that things are being done right within the Karma community.
lets not forget that very important point when we debate changing things...

the thing that will end up giving us the widest distribution and create the most wealth for everyone involved is a stable price with a slow and steady rise...

EDIT: 5 minutes later.. I should have said relative stability... looks like our dumping friend is back (down to 37 litoshi as I speak)... I am more confident now that he/she is not in the US.

This dump is well calculated. It is to prove what I have told you that money spinners don`t mind if the market is LTC or BTC. This is why I insisted to push for BTC market when possible. At least it will be more expensive to speculate there.

Lol...50 to 36 in 3 seconds, 220 million karma 88 LTC, average price of ONLY 40. Not stable or smart.

I'm going to indulge in some speculation like everyone else.

Is this a pump and dump?
I have seen little evidence of a pump, just people buying in. It is hard to tell if that is simply the readers of this thread getting exited because they read about a pump or if somebody really is buying in for when they want to pump the prices. This does not look like a dump from a pump and dump given the average price of just 40 and it being limited to 1 of the 2 main Karma exchanges.

Is this a large miner or coalition of miners offloading?
I doubt it. Average price was only 40. They'd want the price to look strong like everybody else. They didn't sell at around 45 LTC worth of coins @ 40 on Cryptsy, they still haven't.

Is this somebody trying to hold down the prices, maybe to buy in cheap?
Until that transaction I was sure everybody was reading into things way too much. I still think people are reading into things way too much. I haven't seen any transactions on the market that look like they are for the purpose of decreasing the price. There isn't a sell wall to back up the dump.

Was that just some impulsive person not really thinking about their actions?
I think we have a winner...

[CatKiwi]

Do we have a KARMA rich list? I'd be interested to see the transactions in and out of the bagholders.

[CatKiwi]

Interesting - so someone bought up that 49 wall. But it doesnt make any sense, no one would buy 70 LTC worth of a coin for 49 when someone dumped 100 LTC down to 36 an hour ago....my bet is on multiple mintpal accounts buying his own order.

[Alphi]

Is this a pump and dump?
I have seen little evidence of a pump, just people buying in. It is hard to tell if that is simply the readers of this thread getting exited because they read about a pump or if somebody really is buying in for when they want to pump the prices. This does not look like a dump from a pump and dump given the average price of just 40 and it being limited to 1 of the 2 main Karma exchanges.

I guess you missed the 2 buy walls yesterday that were placed at the same time on Mintpal and Cryptsy at 37 litoshi of about 100 LTC each...


ill give you an alternative scenario of what might have happened..

some pumpers moved in and thought they could pump and dump the coin..... they pumped it all the way to 58 and probably thought they could start dumping into the 60s... meanwhile mr Scryptminer who has been collecting coins for way less than a GPU miner ever could.. sees an excellent opportunity to cash in while the price is relatively high to what is has been in weeks...

he/she/they sell their coins and the pumpers miss the boat having sold only a small portion of the coins they were going to quietly dump into the market using multiple small orders to cover their tracks..

[CatKiwi]

Here's a snapshot I made a couple of hours ago - was keeping it to myself but with all the fake buying and selling going on I think it should be taken note of - As many know I watch the Mintpal order book like a hawk 18 hours a day - always open on my secondary monitor - I caught this guy, a single sell order, for just long enough to snapshot it. Someone out there is holding over 500 LTC worth of KARMA to manipulate the price with and after the last hours activity I am getting mighty nervous.

[Chargin]

http://www.reddit.com/r/Karmashares/comments/24r22p/question_whats_going_on_with_pos/

Can you provide an update on this please?

What are the current plans?

Given the impact of this I believe it should be discussed more.

Thanks.

Chargin.

ya know the current price stability is very clear indication that things are being done right within the Karma community.
lets not forget that very important point when we debate changing things...

the thing that will end up giving us the widest distribution and create the most wealth for everyone involved is a stable price with a slow and steady rise...

EDIT: 5 minutes later.. I should have said relative stability... looks like our dumping friend is back (down to 37 litoshi as I speak)... I am more confident now that he/she is not in the US.

Price stability (or lack thereof) has nothing to do with the Karma community doing things right so it should have nothing to do with debating if we should change things or not. The thing that will give the widest distribution of wealth is increasing the number of people that know about Karma.

Interesting - so someone bought up that 49 wall. But it doesnt make any sense, no one would buy 70 LTC worth of a coin for 49 when someone dumped 100 LTC down to 36 an hour ago....my bet is on multiple mintpal accounts buying his own order.

I bet it was learminer, he looked hungry haha.

[Alphi]

Here's a snapshot I made a couple of hours ago - was keeping it to myself but with all the fake buying and selling going on I think it should be taken note of - As many know I watch the Mintpal order book like a hawk 18 hours a day - always open on my secondary monitor - I caught this guy, a single sell order, for just long enough to snapshot it. Someone out there is holding over 500 LTC worth of KARMA to manipulate the price with and after the last hours activity I am getting mighty nervous.

why would you get nervous? if you watch the market like a hawk for 18 hours a day then all you need to do is place orders above and below theirs to trade on the swings...

if you can see them coming its not difficult to swim around them like little fish swim around whales.

also if someone owns that much Karma and are trying to get more, that only means that they believe in the coin enough to put that amount of money on the line...

[kosmost]

"If we talked about adding value as much as we talk about price, we'd have far more reason to talk about price"

-E. F. Kosmost

[kosmost]

Please take a moment to register at the new Karmashares forums:

http://karmashares.com/forums/index.php

All the action will take place in the new forums rather than on r/Karmashares

for increased+active participation, better organization of topics and tasks, to provide greater transparency to our operations, and for newcomers to easily understand what we're up to and participate as well

[Chargin]

Here's a snapshot I made a couple of hours ago - was keeping it to myself but with all the fake buying and selling going on I think it should be taken note of - As many know I watch the Mintpal order book like a hawk 18 hours a day - always open on my secondary monitor - I caught this guy, a single sell order, for just long enough to snapshot it. Someone out there is holding over 500 LTC worth of KARMA to manipulate the price with and after the last hours activity I am getting mighty nervous.

Actually CatKiwi that was me. It was a much smaller trade (for minor buy/sell spread transactions) that for some reason got processed over and over again. I don't even have that much Karma on my MintPal account. As that trade was being executed (or shortly after) MintPal suspended trading.

[Alphi]

Price stability (or lack thereof) has nothing to do with the Karma community doing things right so it should have nothing to do with debating if we should change things or not. The thing that will give the widest distribution of wealth is increasing the number of people that know about Karma.

says you buddy... Price is directly tied to market confidence which comes from information which being provided by... *drum roll please*... the community....

so to say that community actions do not influence price stability is..... BS.. IMO..

[karmala]

Please take a moment to register at the new Karmashares forums:

http://karmashares.com/forums/index.php

All the action will take place in the new forums rather than on r/Karmashares

for increased+active participation, better organization of topics and tasks, to provide greater transparency to our operations, and for newcomers to easily understand what we're up to and participate as well

I cannot register with my username KarmaKaguy cause Karma is a reserved word.... I really would like to have my name there....

[Chargin]

Is this a pump and dump?
I have seen little evidence of a pump, just people buying in. It is hard to tell if that is simply the readers of this thread getting exited because they read about a pump or if somebody really is buying in for when they want to pump the prices. This does not look like a dump from a pump and dump given the average price of just 40 and it being limited to 1 of the 2 main Karma exchanges.

I guess you missed the 2 buy walls yesterday that were placed at the same time on Mintpal and Cryptsy at 37 litoshi of about 100 LTC each...


ill give you an alternative scenario of what might have happened..

some pumpers moved in and thought they could pump and dump the coin..... they pumped it all the way to 58 and probably thought they could start dumping into the 60s... meanwhile mr Scryptminer who has been collecting coins for way less than a GPU miner ever could.. sees an excellent opportunity to cash in while the price is relatively high to what is has been in weeks...

he/she/they sell their coins and the pumpers miss the boat having sold only a small portion of the coins they were going to quietly dump into the market using multiple small orders to cover their tracks..

I didn't see that. Maybe somebody is pushing up prices. I still think it was somebody being impulsive.

Chargin.

[CatKiwi]

Is this a pump and dump?
I have seen little evidence of a pump, just people buying in. It is hard to tell if that is simply the readers of this thread getting exited because they read about a pump or if somebody really is buying in for when they want to pump the prices. This does not look like a dump from a pump and dump given the average price of just 40 and it being limited to 1 of the 2 main Karma exchanges.

I guess you missed the 2 buy walls yesterday that were placed at the same time on Mintpal and Cryptsy at 37 litoshi of about 100 LTC each...


ill give you an alternative scenario of what might have happened..

some pumpers moved in and thought they could pump and dump the coin..... they pumped it all the way to 58 and probably thought they could start dumping into the 60s... meanwhile mr Scryptminer who has been collecting coins for way less than a GPU miner ever could.. sees an excellent opportunity to cash in while the price is relatively high to what is has been in weeks...

he/she/they sell their coins and the pumpers miss the boat having sold only a small portion of the coins they were going to quietly dump into the market using multiple small orders to cover their tracks..

I didn't see that. Maybe somebody is pushing up prices. I still think it was somebody being impulsive.

Chargin.

100 Litecoins is a hell of a lot of dough to be impulsive with imo. Generally those with that much coin to spend have a pretty good idea of what they are doing.

[kahir]

catkiwi look at recent LTC - BTC price changes ..... people don't know what to do

what happen at karma/LTC looks so random .... complete miss

it will keep being like this .... as long as no one is leading the market with momentum so people would follow .... where that momentum is up or down ... people always want to follow

[learminer]

I bet it was learminer, he looked hungry haha.

You overestimate my purchasing power, lol. But I have a gut feeling there are a few people out there right now that are bullish about Karma and want to get a piece of the pie. So I was pretty confident they'll take that bait. And they did - yumm.

While I am not following the markets as closely as CatKiwi, I do pay close attention to the trends and timing of bigger buys/sells. I don't know who the big market players/manipulators are, but by now it is obvious they are here and watching. None of the recent price actions are random, or small buyers/sellers. But there are apparently conflicts of interest.

The people that are pumping the price are new to Karma, they probably don't have huge amount of coins yet and still accumulating. They have also been - relatively - smart and coordinated in their moves. While they did cause almost 50% price increase, they did distribute their buys over multiple exchanges and a longer period of time (at least several hours a day over multiple days).
The dumper(s?) on the other hand are either people with massive mining powers dumping their mined coins coins (unlikely though, some of these dumps are far too large to be "new" coins), or someone that already owns an enormous amount of Karma and either wants to "get out", or has "other" plans for this coin (plans that don't involve a premature price increase). His/her dumps are almost always done in a very short amount of time and often on only one exchange. Which leads me to believe it is a single big whale...

A Karma rich-list would rock, does one already exist?