Re: [ANN][CLAM] CLAMs, Proof-Of-Chain, Proof-Of-Working-Stake, a.k.a. "Clamcoin"
What the digger said was:
So if you saw "waves of selling" either:
A. Digger isn't telling the truth about not dumping
B. Digger is telling the truth and the dumper was:
1. Unrelated
2. Someone else who figured out the same thing dooglas figured out before he posted it
3. Someone dooglas told about his findings before posting them
4. Dooglas
5. Someone spooked by the increase in above market sell orders.
Yes, it is true that I am digging and selling my CLAMs for BTC. Though I am not dumping hard. I usually just put asks above the market price. I rarely ever do a market sell order. So although I am adding sell pressure to the price by adding asks to the orderbook, I am not "dumping" technically.
So if you saw "waves of selling" either:
A. Digger isn't telling the truth about not dumping
B. Digger is telling the truth and the dumper was:
1. Unrelated
2. Someone else who figured out the same thing dooglas figured out before he posted it
3. Someone dooglas told about his findings before posting them
4. Dooglas
5. Someone spooked by the increase in above market sell orders.
Even if the digger never did anything other than selling into existing buy orders, the price would still drop. Selling into buy orders removes buy orders from the market without removing sell orders, leaving an imbalance. The price will adjust downwards as new sellers find less attractive buy orders remaining.
I did sell some CLAMs immediately before making my first post and didn't tell anyone else about it. I think it was around 5000 CLAMs that I sold. The price had already fallen from ~0.012 to ~0.0075 before I sold anything as I remember it, so it wasn't 3 or 4 in your list that started the price collapse.
This imo is what was happening. I know what the digger has said. But initially his sizeable sells were causing the price to drop. Definitely caused an imbalance.
I think it was only after he got a decent fill of btc and the price dropped significantly did he ease up. He may not have intended to cause what he did, but he did initiate the downward spiral.
I still believe in CLAM and i do use it on JD. In my mind i just pretend the whale digger hit it big on JD. He cashes out some, the price drops some, then we move on and CLAM survives and thrives.
It's way oversold and more valuable than current price suggests. Just my own thoughts. (Disclaimer: i own xxxx CLAM)
People are welcome to have their own.
