Post
Topic
Board Announcements (Altcoins)
Re: [ANN][WOLF] InsanityCoin - coin for investors and traders
by
m0rf3u5
on 03/03/2014, 01:33:27 UTC
This experiment depends on two things,

1) Faith in the dev (both personal trust and future development of the coin)
2) The ability to make money from it

I would imagine most of the coin buying currently is because of 2). People are selling below 0.001 not just for liquidity reasons, it's because if the current trend continues, short term returns will decrease even further as bagholders from week 1 & week 2 compete with sellers from week 3 for the dev buyback, suggesting we won't see the price much over 0.00115 next week, and by week 5 or 6 the dev may struggle to convince people to invest at all.

Although I still have a little faith in this, this week's rule changes, the dev's protestations of 'why are people setting their sells so low?' without any plan to raise the price much, the 'accidental' early start, have all made this experiment look more like a sucker trap

The development of the project needs to accelerate as quickly as the injection of money, to increase demand. Otherwise any long term price projection based purely on supply, along with the coin itself, will fail.