As you all can see there is a long way to go. We think that our goal to reach ~$ 1.00 is very realistic and maybe even under estimated. For us to reach this goal WE need to work hard and we need YOUR support....together we can make it.
The thing is, hype only goes so far...
The whales are looking to make a quick score by pumping a coin and then dumping it for bitcoin... which is then dumped for fiat. It's killed off countless good coins in the past, and it'll kill off countless good coins in teh future.
Why do you think the price of bitcoin is currently $500? Because of whales that keep pumping/dumping and killing off alt coins to convert to bitcoin and then to fiat!
So making a good coin isn't good enough!
Many coins have come out that are way better than bitcoin, but they've all gone through a big pump, followed by a big dump. Then a shiney new coin comes along that is even better and the cycle continues.
What gives a coin it's staying power is how much it's being used! Money is a tool. It's a storage of wealth used to buy goods and services. What good is a currency if it sits in your dresser and is never used? Sure it's a storage of value, but if there aren't millions of people holding it and believing it has value, then the value will dissappear.
The biggest thing is that
a coin needs to be used. I really can't stress this enough. I look at Librexcoin and it's goes up like 1000% in the past two weeks. Why? Because they're adding a bunch of really cool features to the coin and they're building a really good product. But in the end, I see it becoming like Darkcoin, Namecoin, and all the others. They have a great product, but I don't see people using it. If they get people to actually use the coin, then you'll see my statement retracted.
They (Librexcoin) took a step in the right direction though by making a mobil wallet that stakes. This gets some of the coins off the exchanges (but notice, there's still over 200btc worth of volume a day!). That tells me that people aren't putting their coins on their mobil wallets. Which tells me that people aren't using the product!
And if people aren't using the product as it was designed, then what good is the product?
If the majority of the coins are off the exchanges, then whales don't have the ability to influence the price. Which will cause the value of the coin to rise naturally because people will feel confident that they can accept the coin without losing half it's value the next day.
This is where multiwallet gets this right...- The block explorer built into the wallet is brilliant. No longer doesn't someone have to search the internet to see if a transaction they made is visible (don't know why other coins don't have this feature)
- The built in irc is nice, if you have problems with your wallet, or anything else, there should always be people on to ask without leaving the product.
- The anon function is nice, and some people will feel it's a must but it doesn't excite me like it did when I first heard about a coin trying to implement it (darkcoin)
- Finally and most importantly, the exchange. This is what's going to give this coin value, and coupled with the built in irc, it basically has it's own troll box.
Bittrex, Mintpal, Cryptsy, Poloniex, Mtgox (pre-implosion) ... all of them were making thousands if not tens of thousands of dollars a day from trading. All from micro fees whenever you hit the buy/sell buttons.
Whales
will take notice of this feature.
Average day traders
will take notice of this feature.
They'll notice for a couple reasons.
1. Security. These other exchanges can offer up all the bells and whistles they want, but they can't allow a person to hold onto their coins on their own computer
and trade for other coins at the same time. And while they may have experts in system security working for them (unless they're Mtgox), they can't mitigate a risk in a way that this coin could.
2. Micro fees. Even if this tool skimmed off the top by grabing .005% on each transaction (which for all we know it might and probably will be much lower), it would still be cheaper than using any current exchange. And frankly it has the possibilities of having ALL exchanges merged into
one. I don't know about you guys, but I'm not about to send my bitcoins to Russia if I'm living in the U.S.
This still doesn't solve the problem of whales though. Whales are still going to pump/dump coins. It just solves the problem in regards to
this coin. Because if this coin manages to deliver, they'll be pumping/dumping other coins for this one.
Final thoughts....
The time to buy is now... by all means you should buy. You can easily get almost half a million of these coins for under 1btc, and if the devs can deliver this exchange... holy hell, unleash the flood gates because we're going to put cryptsy, bittrex, poloniex, and any other exchange out of business.
-Pickle
Poll
