not sure about the dev on this one.... I had high hopes for him and bought a bunch of MUGA a while ago. luckily I sold most of it as the price was dropping and recovered most of my losses.
I kept some coins just in case it rebounded and still have them...
However, I just frowned as I looked further into this...
We can see that the dev withdrew the development fund coins he purchased on June 20th.
http://explorer.mugatucoin.com:2750/address/MMj8kE9EjFxTVjbazXTVXs5eM7G5XcCzAzlooking at the market history on Bittrex, there was a time period where about this many coins were traded between 17:00 and 17:29 on that date... (not sure which timezone bittrex is showing me).
during that time frame, the price was 2395 down to 1726. not sure what he bought them at, but I imagine it was higher on June 8th ( when he posted having bought the coins at market value to replace the premine). So dumping coins would have been useless, unless he was just cutting his losses as much as he could...
The dev was more of a twitter updater than posting on this forum and his last tweet was on the 19th of June...
"
So grateful for all our followers! You make our day!
"
The last time he logged into bitcointalk account was, June 20, 2014, 10:41:28 AM
This all kind of lines up to him dumping his coins on the 20th. Not exactly concrete evidence here, but BIG red flags.
Mind you, he bought these coins with his own money... so he can do whatever he wants with them, but this does not look good with the community.
At this point however, dumping my coins will get me peanuts. I would rather keep them in the hopes of a community takeover or maybe mugatucoin_dev proves me wrong and comes back.
to dump or to hold is up to you, but I would rather gamble for the big bucks as opposed to enjoying a single pack peanuts right now.
EDIT: I just looked further into the transaction out of the development fund wallet. It seems it did not go to an exchange.....from what i can tell, they went to another wallet with 40k coins and then another wallet with 157k coins... I am however no expert in tracking transactions on block explorers and could be completely wrong. If someone smarter than myself wants to follow the coins, I am sure we can get a better idea of where the coins went. Maybe he is stacking up coins as 157k is almost 10% of all the MUGA in existence.... or maybe this is the Bittrex wallet... I dont know.
