I see nothing wrong in trading with the bay token. If you bought at 579 satoshi and it goes to almost 900 satoshi i will sell because i know it will come down again. Now i bought back at less than 500 satoshi. If i just would have hodled i do myself short. Now i have more and cheaper bay. By the way, am i doing something wrong or are there really so few sellers on the bitbay market? I see only 5 or so sellers with stuff.
Of course it was a good plan this time.
One time though you may sell for 900sats and get price out watching it travel to 10000 sats and beyond.
With a coin with this much minting and so many in the hands of day traders and scalpers/churners bay will find it tough get a good rally going.
You need to transfer these coins to the investment types that like to accumulate nice interest in return for buy large chunks and holding them a long time.
Masternode TYPE variable savings bonds would save this happening forever.
People arguing against introducing masternode type savings bonds now are litterally crazy. We can get the same effect and greater than the best masternode projects.
Until that point we are in for much of the same.
Bay does not have enough hoarders/savers... we have a majority of churners. We are attracting more with our great yoyo graphs too.
It's almost like a guarantee now. You sell into any quick double up then buy back for half price.
Introducing new tech to these types is casting pearls before swine.
Bring in the hoarders and savers and watch the liquid supply dwindle down then bring in some nice rallies.
The new improved pos rate will help but it is not enough alone to compete with masternode type models in terms of incentivising accumulation and saving long term.
It is hard to see with bay how many are in the hands of real long term believers and holders. I mean i even think many churners believe in it they just like making a few btc whist accumulating. Sadly this is long term detrimental to the project.
Get this coins out of the hands of churners into the hands of accumulaters and savers. These two types of people have totally different mindsets we need the latter.
We need to work smarter not harder here. You can litterally code and code and code until we have product that is the most advanced and useful crypto out there but if nobody finds it on page 1 because the churners like bumping it up and down extracting btc from new investors then forget about it reaching its rightful place.
sad to see bay bumped out so harshly of the top 100 but it really is not so surprising.
all crypto today is based on speculation not real use cases the world is not yet ready for the real use cases so my advice play to the speculator and give them what they want rather that what you know is better for them long term. Worry about the real use case (which we have in abundance) later when we have satisfied the speculators and got up there with projects people are talking about in the top 10 or 20.
we can even phase them out if the peg really will work as we hope
