Re: [ANN][DRK] Darkcoin | First Anonymous Coin | Inventor of X11, DGW and Darksend | InstantX
So someone with lots of darkcoin generates a huge volume, people think the price is supposed to shoot off, and then the same bastard sells everything down. Keeps the price deliberatelly low, accumulates decent amount of DRK and then repeats... is this what is happening?
I think Darkcoin price fluctuation is directly linked to the bitcoin price. I think some whales use Darkcoin to hedge against Bitcoin.
Dogecoin is bigger hedge coin against BTC fluctuations by "whales"
It is still mined to set market price, but it is tiny amounts that are given out on the block compared to last year.
Hash Network breakdown DRK
About 80GHs on Darkcoin network permanently, Long Term miners (own a lot of DRK from when it was under 50 cent a coin) who holding new mined coin for block reductions over next 3-10 years
Multi-Switching Profit Miners (Do not own a lot of DRK from when it was under 50 cent a coin) normally 20GHs jumps onto Darkcoin Network when difficulty goes down and it profitability rises to 0.15BTC to 0.28BTC per GHs
Price of DRK goes to 0.0084BTC, 43ghs is jumping on when difficulty goes down and profitability rises to 0.15BTC to 0.28BTC per GHs
This mean extra coins going to Multi-Switching Profit Miners, who are most likely to put them onto the exchanges; this causes the price to drop back a little from 0.0084BTC.