Quote from: TwentyGotoTen on April 04, 2014, 05:34:50 AM

Quote from: ATXsilver on April 03, 2014, 06:32:00 PM

"As an aside, it is quite humorous to me that Auroracoin has a $23+ MILLION dollar market capitalization, while Earthcoin sits only at less than $100K. Now you see the copycats like SpainCoin, GreeceCoin, SiliconValleyCoin, Etc. hurrying to cash in on the 'newest fad' coin to get pumped & dumped by the Devs. Eventually the sheeple will get tired of playing the (suckers) game, and look for value, and a coin that has stood the test of time, and the trial by fire. "

My thoughts:

Not that long ago, in January of 2014 I believe, the market cap for EAC was a smidge under $1 MIL, in fact, I specifically remember people posting about it. Now as I look at coinmarketcapdotcom it states EAC is at 97K??? Where is the 900 grand, did that all disappear somehow? Can someone explain that to me like a child? How does a coin lose $900,000 in value? Was that $$$ paid in and then was all taken out. Maybe I'm confused about how the market cap works but all I can think is WTF? Makes no sense to me, who has all that money that was put into the earthcoins?

I certainly appreciate all the efforts of the devs and other forum members that have developed websites & services, products around the coin but if all the coins combined right now are only worth 97 grand, somebody has that money and has taken it from the community that has built value into eac??? Confused

I'm guessing there are a lot of people who took some big losses and sold to "stop the bleeding" so to speak. If someone bought in at 10k satoshis and then sells at 5k satoshis, 50% of that value is gone instantly. Multiply that across the market and there's your evaluation. On the other hand, some will be making some huge profits if the coin value goes back up.