Quote from: AlexGR on August 18, 2014, 12:13:45 PM

Quote from: Ignition75 on August 18, 2014, 11:32:34 AM

Quote from: AlexGR on August 18, 2014, 11:26:21 AM

Quote from: MasterMined710 on August 18, 2014, 11:12:33 AM

just sent the last bitcoin i'm willing to part with to mintpal.
imo this is a result of the 2 million coin linux instamine.

The whole market is going down... -7% btc, -20% LTC, -20% Peercoin, -60% cloak etc. Is this a result of the instamine which is DRK-specific? Of course not.

IMO, what is happening is this: A large number of hacked BTCs had found their way in alt-land (including the DRK pump and other pumps with the same buyer)... These were invested in a large number of coins, irrationally (meaning that the buys were very aggressive / pump-like)... as are the dumps, which are losing the owners money but still they don't care because these BTCs aren't really bought or worked for. They were stolen. Only one who has no concern of buying or exit price can behave like that pumping and crashing coins for the lulz.

For some reason, a lot of this money is going out. All the coins which have been influenced by this pumping & dumping will gain because the market behavior of the buyer (now seller) is irrational. He bought high / sold low as he pressured the price to new depths. This money from his losses ended up in ordinary investors pockets but he doesn't care because they are probably stolen money to begin with.

That's my theory at least.

I didn't think of hacked coins, good one...

So my top 3 reasons for this manipulation:

A very high net worth individual or organisation mitigating future currency risk
Banksters putting crypto in it's place after a working Anon solution
Hacked coins for the lulz

I first wrote about this with the Blackcoin pump:

Quote from: AlexGR on April 14, 2014, 09:15:33 PM

Personally I think BC is pumped as a laundry for hacked BTCs.

Cryptsy top 9 volume:

BC/BTC    BlackCoin    5558 BTC
DOGE/BTC    Dogecoin    713 BTC
LTC/BTC    LiteCoin    417 BTC
ZET/BTC    ZetaCoin    312 BTC
VTC/BTC    VertCoin    118 BTC
AUR/BTC    AuroraCoin    106 BTC
ZEIT/LTC    ZeitCoin    45 BTC
DRK/BTC    DarkCoin    41.4 BTC
NXT/BTC    Nxt    36.3 BTC

Yeah, sure 5558 BTC, >10 times the BTC/LTC volume. Ok. Someone had a couple thousands BTCs around and said yeah let's throw them on blackcoin...

My guess is that most of these BTCs of the last few days (let's call him primary buyer) are probably "problematic" to cash out for the "owner" and is thus pumping or even trying to buy an altcoin... but not any altcoin: BC which is also prone to 51% monopoly advantage for the owner (!) - lol. But it would be somewhat irrational if the 51% controller undermined the network as he would lose himself through a blow to the currency's reliability. Unless he doesn't care.

The buying pattern is irrational with no serious periods of adjustments to buy back more for cheaper by panicking "oh it's gonna fall soon" guys... and I kind of remember our own pump to 0.008 that exhibited similar irrational behavior, and it had ...330 stolen BTCs. You just don't spend thousands of BTCs like no tomorrow if you've earned them with mining, trading, investing etc or if you bought them with fiat, knowing full well that you are creating a bubble that you will be unable to dump to other parties. It's a sure loss (unless you know the future and it's ...BLACK Tongue

)

Then I wrote again about the influence of this guy in the DRK market vs the cryptonote coins:

Quote from: AlexGR on July 04, 2014, 07:48:12 PM

DRK has someone that that I call the "primary buyer". I estimate it's someone with vast BTC resources - probably 100k-500k BTCs or so. I don't know if these BTCs are legit or hacked, but he can spend them like no tomorrow. This guy has bought millions in DRKs. This same buyer (as I can see from his buying patterns) has also gone to diversify himself in XC, Vericoin and other "pumps & dumps"... however the money he used for Moneros is tiny compared to all other coins. I believe he was more actively engaged in the first run up to 0.007-8.

If pumping & dumping was his sole purpose in engaging with all these coins, it only makes sense that he would be better served pumping a coin which he can then "sell" to others based on its superior properties. Otherwise how can he dump without crashing the market and everyone running away from the "crapcoin"? He would need adequate hype that the coin is "solid" rather than crappy. So, Monero, in this regard, given what everyone is saying, should be better pump material. One can buy more and hype it as superior, actually convincing buyers that it's a good coin to have. Once that happens, he can dump in waves - if his intention was to profit from the p&d, instead of HODLing long term.

But this didn't happen. And it has sparked my curiosity as to why. What does the multi-million guy (who buys all anon coins except the bytecoin ones) know? Is it inflation that is the problem? Is it that he has somehow independently assessed the bytecoin coins as severely problematic in other areas beyond anonymity? What is it that makes him avoid them like the plague, creating market paradoxes where Boolberry is surpassed by bitcoin-based clones that only offer a whitepaper for anonymity and not even the features for it? Roll Eyes

...and interestingly enough, Monero and other CN coins aren't going down significantly - against the overall market trend of other altcoins. I believe it's because that buyer hadn't really touched them and thus he's not exiting their markets / creating an exit impact. But those that he did touch, are crashing hard due to market-sell orders and always to the degree that he had an active involvement.

If I'm correct, his position in DRK is probably the largest among all altcoins.

Btw, in POS coins he may have also acquired a future benefit for a nothing-at-stake attack if he managed to acquire a good percentage of the whole supply.

PS. I think the real laundering is happening by the exchanges in this case, rather than RC4 of DRK. One gets the stolen money in the exchange, plays investor for a couple of months, exits the exchange and his BTCs are now "clean" - as they appear to originate from a very mixed pot of money that the exchange has.

Quote from: UdjinM6 on August 18, 2014, 12:02:43 PM

holly crap!! btc/$ hit 309 on btc-e with 10,5K BTC volume Shocked

Hacked BTCs ftw.

Very interesting. Makes sense. Thank you.