SOMEONE POSTED THIS ON ANOTHER COIN AND I WAS READING AND I JUST WANTED TO SHARE SINCE THIS IS SORTA WHATS HAPPENING HERE...


So here we are with people destroying themselves from the inside out (yet again) and trying to sell off coins for well under value.
 The crypto movement started as an idea or way to get out from the repressive form and highly manipulated form of currency that is controlled by those who do not have the best interest of the longevity of the currency in mind. Those who want to print $$$ or sell $$$ to line their own pockets regardless of the damage that is being done to the very currency that they holding.

Now if you look at it... the exact same thing is happening here!!!

The worst part is that these people will claim to support the idea behind the crypto "down with fiat, down with the bankers, down with the fed" but they are perpetrating the exact same personality traits that they are railing against.

 

Because of the actions of several , the first exchange that has opened to carry this coin has seen a large drop in value. People who are willing to let the coin go for 1/10th its value have set the precedence for the image of the coin for everyone.
 Couple of things are happening or will happen now:

1) When the coin gets picked up by another exchange, it will start off at about +/- the current rate of exchange (which is way lower then it should be)

2) The value is currently driving miners away from the coin in search of something more profitable for their time (thus driving the value of the coin lower again)

3) The number of buy orders are dropping along with the value as they get filled by those who are willing to sell to make a small value instantly.

 

Let me put this in another way. Should you ever win a $30,000 car... I will gladly give you $3k cash for it (in essence it is what you are doing now), selling something of value for way less just to make a quick profit.

If you put it in terms of cars, most people wont make that trade... they would hold out for $23K at the very minimum claiming all the while that its $7K off the current value and that is a good deal for the buyer.

Maybe the problem with the coins are that they are not tangible, either which way you are doing every coin a disservice when you try to make a quick profit when you would be more richly rewarded to just hold for a while and sell at the coins peak.
 Just think of how many people sold bitcoins at under $1... how many thousands or hundreds of thousands were lost there just to make a quick buck!