Re: [ANN] [CLOAK] Cloakcoin | No Premine | X13 | Decentralized Market and PoSA
This is not a troll, but some data for the irrational exuberance in here.
A prudent investor would wait for a full reversal signal, like bitcoin, like darkcoin. Look at these charts and tell me why its different this time. Remember, even bitcoin is not "a new paradigm", yet. And before you tell me this is just the first sell off, are you willing to handle a 50% loss, hoping for the next run up, months from now?
Does not compute. While the grphs look similar, they tell a different story if you were to use exponentials. Basically comparing a huge 10x increase in drk and btc to cloak's much smaller run-up is not prudent. Looking back, both btc and drk ran up so much they were essentially huge bubbles. In my estimation, cloak has no where near the bubble formation that drk or btc has had that led to both suffering through a significant sell-off. A prudent investor would wait for a full reversal signal, like bitcoin, like darkcoin. Look at these charts and tell me why its different this time. Remember, even bitcoin is not "a new paradigm", yet. And before you tell me this is just the first sell off, are you willing to handle a 50% loss, hoping for the next run up, months from now?
Logarithmic shows the same thing, cloak 250% increase from steady state to peak, Drk, 280%, estimated from when I noticed the take off at 0.009 to peak.
The bitcoin bubble is a larger gain, granted, but I purposely used linear charts, as most people don't understand exponential growth, this is evidenced by the constant posting of the bubble chart which I cited.
Cloak is following in a logarithmic upward channel, but since it's life span is small and there are less repeatable points for a trend line, I would place less confidence in it that than say bitcoins similar upward channel.
These small markets are controlled by traders, and most don't care if something looks promising, they want bitcoin.