Lol, I told you guys to take down your sells and help with buy support.
Now were only going to keep going lower.
We are dealing with a lot of folks who were given coins for nothing - these people have no sense of value. We have to wait for them to pass on their coins to folks who do.
totally agree!
I should have known this would be the case though - More fool me for going all in without a thorought SWAT analysis.
Here's the deal:
- We know that the coins were distributed for nothing. When you dont even have to mine a coin who have NO incentive to hold - you could sell for 1 Satoshi and still be happy.
- We also know that the coins were distributed transparently. Unless people have bought more on the exchanges there is no one who 'aquired' more than 500,000 coins.
- The total number of coins that are on the market now are all we have to worry about - we wont see massive dumpings of mined coins in the future because there aren't any. 100% are out there right now.
- Those who did buy more on the exchanges should be considered rational economic thinkers - they will NOT dump their coins below what they paid unless they are sure they can buy them back cheaper - we are at the point now where less than half a bitcoin sits between us and 200 Satoshi - If someone sells for 150 they are taking an enormous risk of it dropping further.
- Even the worst coins on the market go back up after a big dump - its what MUST happen. We just have to wait for those who got free coins to be done dumping. Once that is finished the coins will start a spike back towards 500 Sat provided the dev pulls his finger out and gets back into this coin. At the moment his activity (days at a time without any posts or updates) is not sufficient and the website is still not fixed.
1000 sat will require a deliberate pump but it will benefit those of us who bought low and held.