Quote from: Mortimer452 on March 24, 2014, 03:37:48 PM

Quote from: albertdros on March 24, 2014, 03:18:10 PM

so am i the only one that made money with this one Cheesy

?

I made around 0.5 BTC, all from mining and dumped immediately when Poloniex market came online, I didn't buy any. It was tempting to purchase some when I saw the price below 0.001 but I decided not to, what a great choice that was

I guess it was people like me who probably contributed to its demise. But anymore, dumping mined coins as soon as they're able to be traded is about the only way to make money. There are very, very few out there anymore with enough support for long-term growth.

The psychology of mining and trading is very interesting. I see that many miners know that they are hurting a coin by dumping right away, but find it is the safest way to make a profit. This is under the premise that other miners will think exactly the same way. Mortimer, I don't think in this case that you alone made any significant contribution to the coins demise. This was after all suppose to be resistant against that sort of thing. Now the group mentality that seems hard to avoid did probably contribute a lot. This seems like a lesson in psychology for the devs. They laid out a plan (that they admit was flawed) that would have gone much better if the miners collectively behaved in the interest of making more money in the long run. Someone pointed out that they should have allowed the dumping first before making any implementation of a trading engine. In retrospect, yes that would have been a good idea. I should probably know better but I am hoping that this is what is occurring right now.The shaking of the weak (or sensible depending on how you see it) hands and dumpers. But I realize it is likely not. I have entered full on gambling territory of the speculative scale at this point.