Post
Topic
Board Announcements (Altcoins)
Re: [ANN][DRK] DarkCoin | First Anonymous Coin | First X11 | First DGW | Fork for Masternode Payment
by
toknormal
on 16/07/2014, 10:37:44 UTC
Whales pushed the price slowly down to 0.009

I don't know how you arrive at that conclusion.

I only see 2 big volume spikes - June 21st when the RC3 fork issues appeared and then a smaller one around July 3rd which pushed it from 14 to around 11/12. Other than that the price has drifted on very low volume. I couldn't remotely describe it as "whale manipulation". Looks more like lots of tiny trades of sub 100 DRK - probably for all kinds of reasons.

Remember this: what we know as "price" is only the price of the last trade. We tend to make the mistake of projecting this onto the entire coin supply as if the entire coin supply was being traded at that price (that's what "market cap" is). But you try and buy 80 BTC's worth of DRK just now - that's just over one tenth of 1 percent of the coin supply. You can't have it - it's not available on any market. (Obviously if you put the work out you might get a taker, buy I'm making a philosophical point here).

If I decide to sell my mate 1 DRK at a price of 0.005 and that's the "official" last trade, then I've revalued the entire DRK market cap based on just a transaction of that 1 DRK. That's what's going on at the moment - low volume trading which has some significance but very limited relevance to the long term prospects. 98% of DRKs are being held and not traded.