It turned out to be a seller's market.
That is not cool.
Whales, please make some contributions to make the list well balanced.
@seek4dream, great work with this OTC thread!
I do beg to differ though, this is definitely a buyers market for those buyers with patience.
You make a valid point though, if sellers don't do their duty now (like the NXT founders did) do you think the price is more likely to go up, or down? Yes, it'll go up a little bit, and then when the spread is too large and trades dry up people bidding at the top get freaked out and leave.
Then the inexperienced Qora whales, who thought they struck it rich (but in the real world might be a Chinese student earning Yuan from a part-time job) start to consider that things might go pear shaped after all, and they dump 50% of their stash @20 (for a still very impressive x20 return which DOES make them rich, just not x50), so the the price drops to a sustainable 10-20 satoshi.
It'll be a while before Qora is on any exchanges, and we're 2km into a marathon folks.
I'm still extremely confident I'll be buying @20 eventually!
buyer discussion thread:
https://bitcointalk.org/index.php?topic=615344.msg6805345#msg6805345this is offtopic. but wanna bet about your theory that you will buy at 20 sats a big amount at marketprice in the near future?
Of course I'll bet, but you added 'at market price', and that's not what I said above. I know for a fact inexperienced nervous whales sell well below market price if the quantity is right, when they're not certain how things will pan out - like right now. So you need to take that part out. You also say 'a big amount' so specify that.
My bids are WAY down the list, but guys still send me PM's feeling me out, why?
How many trades have occurred so far? About 20 or so. That makes 'paper whales' very nervous, especially if in the real world they're actually quite poor. Those guys know their chickens haven't hatched yet, and if they sell 25% asap they convert paper profit into reality, and they're after a big total.
A small quantity at market price can be small
A large quantity at a much lower price can be huge
Look at my big juicy 80 bitcoins - a young Qora whale in China can have a piece of that in 5 minutes, and change his life right now. The current top bid @47 is a measly 1 bitcoin -when your a whale SIZE COUNTS
The only fly in the ointment is lots of inexperienced guys quickly bidding over 40 before they think of the situation.
If you're a buyer, you want to have the lowest average buy price you can get. So why bid over 40? Distributing 10 billion coins will take years, and as long as there isn't an exchange, it's all on this thread and easy to control for the buyers. The sellers are talking up, so buyers should talk down.
BUYERS MARKET - troll or not, what I say is all true. Sellers need buyers more than buyers need sellers right now. Apply some pressure, or pay too much and overheat Qora market before its even had a chance.
Qora clone working party - https://bitcointalk.org/index.php?topic=615344.msg6845330#msg6845330
Qora MK 1 is vulnerable, Qora code with NEM styled community building = Qora MK 2
