Ninjastic
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Board Announcements (Altcoins)
Re: [ANN] AsicCoin (ASC) | SHA256 - The coin for ASIC Mining! | No Premine
by
tcnitsid
on 05/01/2014, 04:25:48 UTC
Quote from: YoyodyneSystems on January 05, 2014, 04:01:50 AM
Quote from: mssonya on January 04, 2014, 10:51:22 PM
Quote from: YoyodyneSystems on January 04, 2014, 10:38:31 PM
I've been seeing large buying the last few days. The amount there were bought are in the 15,000 LTC range or more.
Yesterday and today the price has been pushed down so the "buyers" can grab more from panic sells.

Whoever is buying up all this stuff is pushing the price up and down with 100% control.
Fun to watch.

I will be sitting here waiting. It looks like a long term accumulation.
The one thing I noticed about ASIC coin is that it has very little resistance to 5x increase
than the other LTC pairs that are doing decent volume. And ASIC is still #1 of those.

And only about 1.5 million per day are new coins. So let say 75% of those are dumped daily
then that is only 150 LTC per day on a coin that is doing 3000-8000 LTC volume. Drop in the bucket.

Watching.. waiting... guess it will be awhile till they buy it all. I wonder what it's like to buy over 50%
of a whole coin. $350k could do it here. I'm sure this isn't the first time it's happened .. heh.

Actually that $350k and the 15,000 LTC of buying match up.. hmm.

You never know. I watched $70 in Sexcoin increase in value to $2250 in 48 hours, at which point I did not sell, only to see it fall by 90% within the following 48 hours, never to recover. Learning from this possibility, I had a 100% gain in netcoin, sold, and then watched it go up another 100% (it has fallen since). I sold ASC at the top of the most recent bubble.

Yesterday, I while filling my petrol tank, I imagined paying in Asiccoin, and I genuinely laughed out loud at the absurdity of the thought.

edit: to be fair though, I spent an afternoon in 2010 reading about bitcoin, only to dismiss it. (I didn't quite get it, I thought it would be an online cash for silly things like Second Life real-estate or Farmville trinkets. )

Looks like it really wants to go back to 7000. Everyone seems to have stopped buying today and it's crashing down for now.
Doesn't need any help to crash now. It's going.

I'll check back in a day or two when it's at it's low. Not sure what the deal is anymore. I woudl dump what you can and maybe buy back at 7000.
I think BTC rising is pushing down a lot of Alts.

If you look at the last three weeks, and not just the last few days you can see this is nothing new for the rise.  There is a flurry of buys, then the inevitable sells to bring it down before trading activity calms down.  For a few times now it has had a burst of buying activity after 10 days or so of calm. I would hardly say it has crashed, even if it returns to .07000mLTC (I've been holding since October).  My guess is this is the result of someone(or many) realizing for not that much they can own a significant portion of this coin and be in a very nice position if it really takes off.

The coin recently halved the rewards for mining, and will do so every three months - with everyone dumping their millions of ASC they obtained with mining, if these buyers hold, it will be rather scarce rather fast.