Post
Topic
Board Announcements (Altcoins)
Re: [ANN][NOBL]*NOBLECOIN*WATER PROJECT SUCCESS:$5,147 RAISED!**COINEX**MARKETPLACE*
by
hellscabane
on 20/02/2014, 15:48:19 UTC
Dif going up today, we're #2 on Coinwarz.
Quote
Coin    Difficulty    Coin reward/day    Exchange rate BTC    Exchange rate USD    Revenue/day    Days to create 1 BTC
 NobleCoin    8.87000000    11339.666072    0.00000061 ?    0.0003662379    $4.15    144.57
Numer 2? We are even behind Litecoin, the exchange rate is still downwards without explanation. Sad
It's without explanation in the sense that there doesn't seem to be a clear reason for this dip. But it looks like general market health. When over 75% of markets are declining, and all of the big markets are declining it's bound to create lots of downwards pressure. Unfortunately, NOBLE is not immune to this despite all of the good news surrounding it.
True, I have been wondering if that was the cazy but to be honoust was too lazy to check all other markets to see if it was true. It seems you should just mine a 'shitcoin' market where the exchange rate is 1 or 2 satoshi, those can't crash. :p But there you have the risk of the market disappearing.

If you think about it, the conversion rate to BTC shouldn't change if the BTC exchange rate to USD is already crashing. The latter already takes all other coins value down with it, so why the double crash?

It's seems counter-intuitive but it makes sense when you think of it like this:

The less USD in the BTC market, the less USD that can be poured into alts. So both BTC and alts go down in price compared to USD.
To compound this effect, when there are bear markets, most investors will put their money into something perceived as more stable. So people will want to lock in the best BTC price they can find so that when BTC/USD recovers, their overall financial hit won't be as bad. Usually when there are bear markets, a lot of investors are significantly risk-adverse. The funny thing is that it also follows basic human psychology. When things are looking bad, most people want to find the thing that will be the least detrimental.

A lot of the time, this has the effect of stemming the bleeding in the BTC markets, at the cost of significant impact on alt markets.