Quote from: Undertow8977 on March 14, 2014, 05:42:27 PM

Quote from: SeriousCoins14 on March 14, 2014, 05:11:19 PM

Quote from: Omega0255 on March 14, 2014, 05:01:04 PM

Quote from: joyztik on March 14, 2014, 04:50:59 PM

This shows how ppl dont understand the concept of BC. What most dont realize is that BC cant be dumped like other mineable coins. Once the pool gets started and assuming everything goes as planned, BC at low prices are history. If you sell now, you will hardly ever see these prices again.

It's posts like this that only shows wishful thinking. Certainly BC can be dumped by whales that hold millions of coins. They have the ability to crash the entire market in one go if they wanted to. Just because it's not mined and coins aren't being generated by PoW doesn't mean the coin can't be dumped. That said, we wont see the same kind of gradual deflation of the currency like other coins.

Right, to an extent. The largest wallet in this game is what maybe 1.6 million? Only a few people have the power to do some damage. I don't see anybody buying up a bag of 10 million at these prices just to crash the price to bits. One can speculate either way, I see the pendulum swinging toward a climb overall.

Either way what you say about whales is accurate, BC does not have strong legs at this point. This price could be blasted and send people into a panic sell short term at any time, nothing is guaranteed.

@joyztik

Your correct, short term. Anyone holding can dump or anyone can buy slowly and dump if they wanted to as well. The difference is that Blackcoin is more likely to slowly climb back up after a massive dump because there isn't the continuous influx of coins from Proof of Work mining. Compare this to, lets say Maxcoin, where somethink like 250k are created everyday. If someone dumps a ton of Maxcoin, the market has to overcome the dump plus the continuous influx of 250k coins being mined and sold daily. If you look at the Maxcoin history it shows exactly that...there's too many coins being created to recover after big sells, which is why its gone down continually since day 1.

What's interesting about Proof of Stake is all the coins are released relatively early with a lower rate of inflation (1%) limiting supply. In my opinion, this gives BlackCoin the potential to greatly increase in supply as there is plenty of room for growth in demand while supply remains at the controlled growth rate of 1%. Obviously, since this is first fully proof of stake coin I have no idea what's going to happen, but there can only be one first time to see what happens!

It resembles what's called 'holding the nuts' in a hand of texas hold'em. Watch this get scary.