Time to panic sell. Devs have bailed on us...
Correct me if i'm wrong. The dev's had 700 million coins premine for development/promotions. They have not accounted for any of this publicly (fine, w/e). A few posts back they asked for 5 million from the community to get some Mintcoin/USD exchange going. Basically this says there is no development coin left. The way I see it, if there is no coin left for development/promotion then they must have been the ones that dumped and killed their own coin for profit. Try not to flame. If you see this differently then please logically explain your arguments.
I have sold 3/4 of my coin to pay for the power/time from mining all this. The last 1/4 I will probably hold onto in case the community continues to adopt this coin as we don't have to worry about the already spent pre-mine destroying the value a second time.
I don't mean to sound all negative here. This is my personal interpretation of what has happened since this coins launch.
Oh, and on another note, this has also scared me away from 'zeitcoin' after seeing the exact same setup and a 'Minting suspended due to locked wallet' message within their wallet. Maybe i'm just paranoid.
Well... that's my 2 satoshis on the situation.
The wallet suspended message goes back to Peercoin as a POS wallet. That is normal. It is just letting you know you need to unlock the wallet for the minting process to take place. Jeebus people, there is no where near the volume to indicate that a dumping of hundreds of millions of coins has taken place in the last two days. Sell if you all feel the need to, but I strongly recommend you compare the actual development of this coin and the work put into it before comparing it to other coins that ended up as scams. The coin will bounce back after all the weak hands have left the room.