Post
Topic
Board Announcements (Altcoins)
Re: ★★DigiByte|极特币★★[DGB]✔$250k Investment, DigiByte Gaming, #DigiByteTip, DigiSpeed
by
EPLDCC
on 06/01/2016, 05:32:54 UTC
You've been posting here a long time MTNSAA.  If you weren't a long time member of the conversation I probably wouldn't reply.

I'm going to call bullshit on your reference to the price target.  You know, as well as I do, the price target doesn't give a date.  It doesn't say that DGB will be trading at $1 by January of 2016.  It's a long-term target.  DGB is only 2 years old.  We're only 2 years into a 21 year production cycle.  The price target is not a fixed guarantee.  You cannot use it to defend the position you are taking in your post.  There is not any problem.  I think DGB is undervalued at the moment.  But, It's not DigiByte's responsibility to attempt to manipulate the market price.

The view that DGB is doing something wrong because they are not trying to manipulate the price is hypocritical.  Hypocrisy is not even a gentle enough word.  It is disgusting.  Digital currencies began with BTC following the financial crisis in 2008.  I cannot count the number of posts about how we need digital currencies to save us from the market manipulation and greed of big banks, corporations, and corrupt governments.  Just a couple of days ago there was an article in CoinDesk that referenced the possible regulations in 2016.  All of the comments to the article railed about how regulation is a problem because BTC (and digital currencies) represent trust and open exchange, how they are disruptive technologies that will provide low fees and open access to financial exchange.  One response to the article even suggested that people should boycott any company that accepts regulation.

However, then we look at our exchanges and markets.  Our exchanges actually encourage manipulators.  They have "trollboxes" where they tacitly encourage the practice because it increases volume, which increases revenue for the exchange.  And, I look over the posts here in BTCTalk over the past year.  Let's think about the trends we've seen in the past 12 months.  More and more people openly posting about their efforts to pump and manipulate exchange.  Coin developers engaging in underhanded sabotage efforts.  BTCTalk is so bad that I don't even consider new accounts to be real people because, more often than not, they're not.  People have multiple accounts.  People sell established accounts to market manipulators.  And, people come in here and post things like ... "sorry, but it is all about the money."

If digital currencies have proven anything over the past 5 years, they have proven that there are lots of hypocrites who are just as corrupt and filled with greed as the quote-unquote big-banks.  Our exchanges are a disaster.  Our markets are manipulated to the point where people openly post about their efforts to pump coins, or write things like "just wait for the next pump," etc..  

Cryptsy is only the most recent example.  It looks to me like Cryptsy is done.  Many people are going to lose money when Cryptsy goes out of business.  Not a single person in this conversation can post a negative thing about Crypsty if they have also posted about how they are just in it for the profits.  That would be disgusting hypocrisy.  But people will do it anyway.  People in BTCTalk will post all sorts of condemnation and deeply worded laments.  They will write things about how corruption and big business are filled with scammers.  And, then those same people will continue to post about how they're just in this for the money and they will work to encourage market manipulation and unfair exchange practices.  Laying blame at the "system" is an excuse.  Saying "it's just the way things are" is nothing more than a flimsy attempt to justify personal weakness.  Even worse people attack our DGB community and developers because some of us value ideas that go beyond individual greed and corruption to profit at any cost.

I don't have any problem with profits or with traders.  I correspond regularly with many people in the DGB community.  Several of them are active traders who hold lots of different coins and actively seek to profit from exchange markets.  I have no objection to seeking profits.  I have no objection to businesses seeking to maximize returns.   I believe in free market exchange and part of that process is profit.  Profits are great.  Money is important.  I'm not suggesting that we all go live in a commune, hold hands, and sing to each other.  But, profit at any cost, without purpose, is not respectable.  Corruption is not the standard.  We can be better.  We are better than that as a DGB community.  We can make a profit an still work toward values and community.

We can make digital currencies into whatever we want in the coming years.  They can be a fantastic contribution to our world of global exchange.  Or, they can just be another example of how greed and corruption spread.  It's up to us to make DGB better and prove that we can profit and still have our dignity.  That we can believe in something like a community and contribute to that community that is more valueable than just having a bunch of individuals lie and cheat to get more money, or more profit.  We can make the world a better place, but we have to choose to do it.