Re: [ANN] Signatum - New Algorithm - Fair Launch - No Premine - Cryptopia
You guys are really pathetic, so sadI can tell you 1 thing, in 3 hours there will be no moon, nothing will happen
I can tell you one thing that is an absolute certainty about SIGT once the 60K block is passed...
Those who are mining it because it is marginally more profitable than ETH and who are cashing in their SIGT every day and buying ETH will not be able to do that anymore... UNLESS...
...the value of SIGT heads for 2200 and maintains that level.
There is solid reason to believe that the constant selling pressure from these people will abate when profitability drops off, and it will not become an issue again until SIGT roughly doubles in value OR the difficulty factor becomes so low with miners leaving the coin that blocks are being solved in half the time.
Wouldn't this logic have held true the last time Sigt halved? If I recall correctly, Sigt was trading around 4,000 Satoshi's pre-halving and then just tumbled while the price of BTC simultaneously shot up.
A fair point you have made. However...
The issue here is not where the highest valuation can be, it is where it tends to gravitate towards. There is little doubt that many who were mining SIGT when profits were significantly higher than ETH mining were doing so to turn the coin over into ETH. And... when they did, that caused a wave of selling. And, do not forget that when SIGT was 4000, it was both very brief and at a time when BTC was NOT in the mid 4000's USD.
My point is, SIGT hit quickly with strong daily mining profits and that invited the opportunity to SELL SIGT and roll over into more stable and mature coins. That will cease to be the case in just a few hours.
This is just one part of the equation, but it is the part that, at least for the last 30K blocks, explains where SIGT can only seem to get about 20% above ETH mining returns before it finds a ceiling in value.
If someone is always there to sell just a little higher than what they want to roll into, SIGT cannot advance. That opportunity will likely be gone in just a few hours and within a few days we will see what happens when these short term traders no longer can profit from their quick selling.