Post
Topic
Board Announcements (Altcoins)
Re: [ANN] [CHC] ChainCoin - 0.9.2.4 Update - Cryptopia & Novaexchange
by
lijoe408
on 13/07/2017, 01:15:36 UTC
This coin seems a little crazy.  Youtubers take the Masternode coin with the smallest marketcap and pump it with claims that it will reach 80$ etc.  I will be watching Chain closely but it seems like definition of a textbook pump and dump.
The big difference is that, per Max of HighOnCoins, this is pump-and-HODL.  There is no "dump" phase, because that is unnecessary.  

Dumping is caused by greed and panic.  Don't get me wrong, there are those that will panic, but Max has GREAT WALL buy orders at price levels to serve as a safety net.  Right now the GREAT WALL is way low at .00059 (see Cryptopia).  The GREAT WALL will move up each day.  So this is price manipulation, but this time there is no "dump" phase.  I love this idea, I don't think this has ever happened before.

Not realistic.  The whole don't need to sell b/c you have masternodes idea is pretty ridiculous.  If it keeps going up not everyone will be able to afford a masternode.  It's a pump pyramid scheme for the people that got in early to get cheap masternodes.  Of course it's easy for them to encourage others to hold since they bought 50$ masternodes.  The higher the price goes the more they make from their masternodes which have already paid for themselves several time over.  They don't have to sell b/c they can't lose money at this point.  The people that buy in at higher prices will be bagholders.

This coin is indeed interesting b/c it shows how much these low marketcap coins can be pumped just from a few "influencers"