Quote from: sussex on November 01, 2016, 10:49:20 PM

Quote from: btvGainer on November 01, 2016, 10:09:33 PM

Do you think ZEC price was high just because of less quantity?If ICN were also only 5000 would it also be sold for 1000 btc each?I dont think that was the reason of ZEC high price

The price hit it's insane heights on ZEC because of morons not doing the maths, the low supply of coins was a huge contributor to this.

At the start, there was less than one coin available and idiots were fighting over this, not realising that in an hour the supply would increase twenty fold. ZEC is still in this position because the coins mined increases the supply by a massive amount every day - there are still less than 3000 coins available and this will increase by something like 10 - 15% over the next 24 hours.

So, long story short, the combination of idiotic investors and a tiny supply created the huge price. I'm still laughing my tits off... Grin

IMO those who bought ZEC with 3000+ BTC wanted to sell 4000+ or 5000+, it's just a trading game. Unfortunately someone has to lose.