Post
Topic
Board Announcements (Altcoins)
Re: [ANN][MINT] Mintcoin (POS) (5%) - New Wallet v2.0.2 released 3/1/16
by
coolbeans94
on 25/02/2017, 08:29:57 UTC
Anyone have any suggestions how to get this coin "rebooted" again?   There seems to be little to no activity other than hold and collect more coins.  This seems detrimental to the coin at this point without and liquidity and coins changing hands.  

How can we promote this coin to start changing hands?
Well, I can see what you're saying on the one hand. On the other hand, it is typically a bad idea to just try to "force" the market to move. It seems as though not many people are wanting to buy a lot of new coins at this point, but conversely are not willing to part with their Mintcoins either... they're content with "minting". Maybe I don't want to sell the coins I have, but I don't have any extra to invest in buying additional coins. In my mind it doesn't make sense to force volume liquidity buying and selling just to "move coins to change hands". I mean you could do it if that that trading style fits your fancy. Personally, it seems too risky. I think the general attitude here is we want a more stable exchange rate, that is not so harshly volatile. Obviously if we want our Mintcoins to be worth something of value, there has to be a buyer. And Obviously if we want to Obtain the most amount of Mintcoins as possible, for minting, then we will want to try to buy them for the cheapest price we can. So there is a balance of supply and demand at all times, and in light of what other currencies are doing, sometimes it pays to be patient..
Keep in mind that even very small price changes can add up over time. For example just a 1% move up in a currency in 1 day, calculates out to being an annual rate increase of 3,640.93% due to compounding, if a currency were to go up 1% per day for a year. So typically when you see even a 1% move in a day, it is indicative of an unsustainable long-term trend, and thus, the longer that type of price action continues, the greater probability of a pullback or reversal with each passing day.
The same logic also applies in the other direction (down); however, the math is different: For example, If a currency loses 1% per day for a year, the currency would be down by -97.42% in a year.

Something to think about. Happy trading Smiley