Post
Topic
Board Announcements (Altcoins)
Re: [ANN] [ASIC-RESISTANT] UltraCoin (UTC) - Newly Launched
by
cointradero
on 06/03/2014, 15:41:42 UTC
Auroracoin lost 87% of it's value in the past 48 hours.  

This isn't the first time or last time this will happen.  Beware of unsustainable growth when thinking of investing in any coin.  
Why you people talk about other coins here?
And about that scam coin 50% Premined what do you expect?


If you don't expect anything from it, great.  But some people expected enough from it they were paying over $100 a coin.  Periodically you will see claims that UTC will hit 5 dollars when it hits Cryptsy - that is unrealistic and even if it did, it's completely unsustainable.  I'm more cautioning people that read our thread to be prudent investors and not to jump on every hype coin skyrocketing unless they have the uncanny ability to call tops and know when to hop out again.  

Basically, don't feel burned if you miss a rise in some coin.  If it moved so fast you couldn't see it coming, it's likely to drop just as quickly.  You're gambling if you try to time those things unless you are part of the organized manipulation.  

Just a tip for any newbies that may be hopping in here.  And for reference, we've been manipulated down the last couple weeks, or just went that way due to zero volume.  I think a little bit of both.  This current relatively large rise is more of a correction to sustainable numbers.  I'm sure auroracoin supporters claim the same, but that type of valuation (6x LTC) with no proven track record and 50% premine was just silly.