Quote from: tyranosaur on November 26, 2013, 03:16:03 PM

Quote from: glendall on November 26, 2013, 02:39:57 PM

Novacoin has some good fundamentals. I thought it was much undervalued last week. It always traditionally was around 0.02 or at least more than LTC so glad to see it come back to it's position. Though ya, the spike and height it has reached from the recent boom is certainly surprising. I was guessing more along the lines of 10-15$ but hey, the market wants lots of Novacoins.

Honestly less surprised to see NVC at over 15$ than I am at seeing NMC selling for 7 bucks. Pretty nuts stuff.

Novacoin has no fundamentals. It has no market, no volume, no demand. It offers no innovation. The only thing it has going for it is that the half dozen Russians that premined it own 95% of all the coins and collude to control the price. If you're not one of them and you choose to own this coin, then you're a fool.

And the market does not want lots of Novacoins. The order books are completely bare. The scammers just sell the coins to themselves making it look like there's demand to sucker in the noobs.

Where you going for sarcasm here ? I'd be surprised if it was by pure accident or not any knowing better that each point you made is incorrect.

1)NVC has a market cap of over $11 million now.
2) NVC has a normal volume traded considering it is a savings-encouraging coin.
3) There is demand for it. If you think the owner of BTC-E is buying his own NVC at increasingly higher rates to increase the price, well, your gonna need some sort of evidence beyond just your idle speculation. Are you also ignoring that NVC is traded on 6 exchanges? Sure most of the volume is on BTC-E, but do you think Vircurex and Crypsty are in this Novacoin conspiracy?
4) NVC is an innovative mix of scrypt/pos/pow. It is one of the older, more original alt's. NVC has itself been copied hasn't it, into Bitbar (don't quote me on that).
4) Premined coins were destroyed. 95% is wildly inaccurate.
5) I've been mining NVC for many months with my remaining 2 gpu's I kept and bought a couple dozen NVC when it was 3.50. Am I a fool?
6) You can not seriously suppose that 'scammers' are doing all the trading with themselves, driving the prices, that is silly. And hey sure may even a big pump and dump right now going from 5 to 20. But people trade coins in the open market and the market is liking NvC, and that is why it is at the price it is, simple as that.

Sorry guys, guess I shouldn't feed the trolls....