Ninjastic
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Patel
on 22/05/2014, 18:10:44 UTC
Quote from: FattyMcButterpants on May 22, 2014, 06:09:55 PM
Quote from: Patel on May 22, 2014, 06:07:37 PM
Quote from: Adrian-x on May 22, 2014, 05:54:25 PM
Quote from: oyvinds on May 22, 2014, 05:42:29 PM
Quote from: seleme on May 22, 2014, 04:58:41 PM
Interesting that this time alts are not following BTC, they're even going lower. Are we going to see decoupling again like before December?

Look at Darkcoin. +30% last 24h, yeah that's sustainable. Smiley

I too have noticed that alts like LTC and DOGE are not following BTC, they are flat or even seeing new lows (DOGE).

I suspect Darkcoin and perhaps a few other alts have something to do with it. Darkcoin has anonymous transactions. Now, ignore Darkcoin and that for a second, my point is really that LTC and DOGE has basically nothing that BTC does not have (LTC has slightly faster transactions, DOGE has MARKETING) and that leaves the door open for any new altcoin that does something which is fundamentally different (more anonymous transactions, for example).

Regardless, it seems BTC has come out #1 and left the challengers in the dust this round.

Darkcoin saved my alt portfolio, but i think other ults will start pumping, when the new crypto proponents enter, this space, (they all dislike bitcoin for some reason and justify using alts, just wait until the feedback loop starts)

At the start of the bitcoin run up from $120 to $1,000 i picked up a fiew LTC at $3 it then outperformed bitcoin i believe for the reason above. I never thought it could take off, but it did.  The same thing will happen to a few select alts, not sure how LTC will go though, but it will be something to monitor.

Darkcoin is a great concept, but I wish they would start over. Reason being, originally there were supposed to be 84 million, and there was a bug that instamined 10%, and then they lowered it to 21 million after those coins were out. So about 8400000 coins from the instamine if I calculated correctly.

really? i had no idea. any idea how those coins were distributed? was it just a handful of insiders who developed the coin like an actual premine? or was there just a general mining frenzy?

the mining algorithm they were using had a bug, which determined how many coins would be rewarded

correction:

Was Darkcoin Instamined?

~2mn coins were issued in the first 48 hours due to problems with the difficulty readjustment. That represents approximately 10-15% of the total money supply that will ever be issued.

The majority of these coins were distributed through the market in the following weeks and months at very low price levels* (0.0000x BTC per DRK to 0.000x BTC per DRK) and a lot of them were also absorbed in the April/May 2014 price increase.

  • Examples of prices and selling action almost two weeks after launch:

https://bitcointalk.org/index.php?topic=421615.msg4861558#msg4861558

https://bitcointalk.org/index.php?topic=421615.msg4889177#msg4889177