Sorry. Im being sarcastic. Quantums post about the dev team doing nothing fired me up. His video though made me laugh hysterically for the entire duration.
Question is. Is everyone looking for a pump and dump or a long term hold?
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Let me know what yall think and excuse my previous sarcasm.
We need long term coins. There are too many pump and dumps on the market and more and more released every day. There's a problem though. Even a long term coin is going to get pumped and dumped. Unfortunately that's just the way it is right now. The dev and the community should focus on the product, features, advancements, advertisements, etc.. Not the markets or the price. It's hard but community threads where every other reply is about the current price will turn investors away.
The only way to break through the manipulation that causes a pump and dump coin is to get the coins spread out in more hands. With more people in control of the coins, it becomes harder to manipulate the price. Unfortunately, with the current price, consolidation has been pretty easy. You can multiply your holding with pennies on the dollar. Expect to have several cycles of pumping and dumping as the coin gets relaunched.
We need the marketplace. We need a real world use for the coin. This is the only way to market the coin and get it in the hands of more people. Without a marketplace, without the real world use, I do not see this coin being anything but what it is now.
I think regular pump and dumps are okay. It is neceasary for any coin to be lucrative on the exchanges. But pump groups with paid trolls and incessant lies to destroy price to buy in very low and pump high.. insider trading and all the other shit.. what i was talking about.
Traders are as necessary a part of the ecosystem as is the development of the coin. But is there such thing as an honest pump?
Maybe as long as all development is not included? For example a fellow i gchat was wondering when we would be completed the new wallet not for excitement of project, but to know when to buy cheapest.
The one thing that none of the development team has talked about is price. The focus is on the development. Mixing planned releases with pump groups, sockpuppets, paid trolls, regular trolls etc has been the evolution of trading.. and is beginning to cross the line and destroy otherwise useful technologies as less then thick skinned devs and communities crumple under the pressure.
This does not advance crypto, but hurts investors and limits technology growth.
It is a shrewd game this crypto. But there has to be a limit and a proper way to pump without sacrificing ethics and evolution as an entire industry as i believe it is meant to be unified.
Im not sure what the answer is here. An honest crypto will have a difficult time achieving rock star status in short term wthout crude unethical tactics, but through persistance and skill will achieve long term price goals.
Previous investors in silk, quite possibly as mentioned will be looking for exits when price is right, so we need to have a solid base of new investors and spread the currency as vastly as possible while implementing payment integrations while previous investors possibly exit.
When the new version is released, and then when the voting system is implemented, it will be interesting to see how the market reflects this.
Personally i will avoid talking about price any further but will continue my efforts to help organize the ultimate advancement of silk.
We have a long exciting road ahead of us.. havent even left the bazaar yet.