Post
Topic
Board Announcements (Altcoins)
Re: [ANN] BlackCoin (BC) | on exchanges | PoS | No premine
by
stormia
on 15/04/2014, 14:41:29 UTC
Open Letter



Some people here are very naive and do not understand that without hyping and yes pumping BlackCoin we will still be at 1500 sat with 50BTC or less volume.

Please don't take this personally,
Here's my issue with/question about pumping and this applies to all coins:
What happens when a coin is very quickly hyped/pumped up to a multi-million dollar marketcap, to the point of producing a number of very "wealthy" people, but there is actually not enough fresh capital coming in support these huge bagholders leaving/taking profits? So what happens when one or more bagholders want to turn their "wealth" into wealth, before another one beats them to it? The higher the price goes, the more likely the big bagholders will be tempted to exit and the easier it will be to break the support. I mean, how many people are actually trading blackcoin or any other new altcoin? Are there enough people there to absorb the costs of bagholders leaving at a given price? If not, that is why a drop follows as some of the "whales" race each other to a low.