....
Ok..lets pretend I was wrong, lied, or just crazy.
BC had some great news this week and every time it is about to move upwards it is immediately pushed back down. So lets assume it is nothing nefarious and it is just normal exiting. BC is in trouble either way. DarkCoin is about to surpass BC in market cap and new shinny coins are looking more promising. Why should someone buy in at 13 cents a coin when they can invest in another POS for much cheaper and wait until it is pumped? If BC is still trading around 29,000 next week this time then people are going to start look for new places to invest. ( Short attention span syndrome)
IE - answer is simple some big bag holder wanted cash out.
Big holders cash out at good news.
"DarkCoin is about to surpass BC in market cap" - simple ASICs currently raping LTC price... and DRK strating slowly replacing it because of potential use of darksend.
Now Gpu miners are swithing to x11 and price is rising...Miners want DRK price up so they promote DRK whatever they can everywhere.
Free commercial price up. Same time ASICs lowering miners community less miners less advertisement for LTC...
"Why should someone buy in at 13 cents a coin when they can invest in another POS for much cheaper and wait until it is pumped?"
If you risk buying shit coin like WC,AC,YC,Sum,Blitz and other copy of BC you will be in 95% burned.My arguments.
- You remember BC troll Strato ? He sold BC and switched to WC. Was it worth to switch to cheap coin?
He bought 3m WC @1200sat...he laughed form BC community but not only he, many big - whales cashed out BC and moved to WC at the end all they got burned.
What a justice for trolling us.
Next Cinnin "0%" premine - self moderated thread...Cinni was instamined in cleaver way all blocks 1-600 were mined by one guy with ~600khs
this is about (~4% all supply)(when i posted that fact my thread it was ofcourse deleted as FUD- while it was fact )...3 day instamine this is big risk for holders investors that they can be burned.
Cinni owners can be burned if their dev will stop where it is and sell all coins.They last update of Cinni code was from month ago when rat4 helped them.I will put red flag here.
Next copy AC "no premine" - yea and after 2 weeks on pump some guys founded super block in code. AC had 90% premine dev runned away with 300BTC stolen from market.
So as you see 95% of POS premined coins were or will be scams - lets back here in 6 months and we will see if i were right.
This is main reason why BC is so cool.
-rat4 cannot be copied so easy - like Sunnyking PPC dev that factor is very valuable but not many focus at it.(eg. WC couldn't release POS-fix in wallet for 7 days)
IE - better for us if big holder want to cash out now without major price crash and those guys are making it fair slowly selling of without dump.
Lett them our after some time price will be driven up again.
I even made a good profit on Cinni, I bought from (20K-22K), and dumped everything in (32K-35K). I could have lost my money, as I said once I do not practice daytrading, but this time I got lucky and I gained a lot of money on a copycat.
With respect to my Blackcoins I have not yet sold any, because I believe that we gonna far away, and I'll stick with this currency for long term.
I remember that one time I had the opportunity to purchase 100K LTC per U$ 50,000.00, I had the money and I did not buy it, if I had bought LTC at that time, and holded they, today I would have more than U$ 1,000,000.00, crypto is a risk, I keep buying BC without fear, because I think we're going to over $ 2.00.