Quote from: mercSuey on November 01, 2013, 05:07:21 AM

Quote from: Majormax on November 01, 2013, 12:13:09 AM

Quote from: allbiznessman on October 31, 2013, 11:09:18 PM

The CGB price has been very low lately, is that only due to high Bitcoin price, because it seems a lot lower that that raise in Bitcoin price should have brought on.

The low price is due IMO to insufficient holders willing to buy more. A very wide adoption is essential : the current larger holders need to be willing to spread the units around to new adopters with the incentive to buy and market more.

The price could fall to a level where a new large buyer is interested, but only if enough stake is available.

This is a confusing statement, or it's worded confusingly. The price is lower and there for the taking in the open market. So you want current holders to sell their stake rewards to push down the price further? PoW mints about 1600 CGB per day and it'll get cut in half in about ten days, minting about 24k the following 30 days. Plus, any spike in BTC (or even LTC) will have a negative effect on the rate. And as I said before, this isn't a sprint, it's a marathon.

I mine CGB with about 6mh currently and I'll send coins to my cryptsy account on autosell instead of to my personal wallet if you seriously think that'll help for the long-term, although it'll be seriously painful to do it. If your point is that it's difficult for people to build stake because of the thin sell side then I suppose this will help. Let me know your thoughts on this...

Perhaps confidence in CGB has been shaken given BTC's rise and many people are waiting for some results from devs before they exchange their BTC for CGB. Well, in that case, I don't blame them and I'm working on it. But I won't rush results either because the exchange rate is depressed--the rate will take care of itself in due time.

And the longer the rate is depressed the better it is for the long-term, which is consistent with (at least) the sentiment of your post.

But if I were a betting man, I'd bet it won't stay depressed for too long...

The thin sell side is only a problem if there is a potential dynamic buyer (new blood, strong hands) who wishes to acquire a significant stake. My point is that more distribution ( simply more different holders) will help. I would think autosell is not going to help either distribution or big stakeholders.

You are doing a good job as dev (and whatever other hats you are wearing): I think you need more clones of yourself !

In due course, fresh news and publicised projects will inspire some new investment.

My point about larger stakes is that these are most effective if targeted in private placement to someone who has the power to further the project , and not just to speculate on the price, which tends to happen in exchange trading.