Re: [ANN] [CLOAK] Cloakcoin | No Premine | X13 | Decentralized Market and PoSA
Yeah people tend to get hyper emotional with alts. Cloak is a neat coin and all, but it did see its post-launch pump and charts are charts, all things being the same I would think it will continue a downward trend over a long period of time, like Bitcoin/Litecoin/DRK/BC/every other coin before it. ...Until one day it potentially sees the mega pump (a la BC). What I keep thinking of in the back of my mind as a corollary is Quark coin. Quark followed a very similar type of path. Launched beginning of summertime, saw a small pump, then long period of declining prices and accumulation, and then the big winter rally. But that was because somebody accumulated a lot and put the effort into promoting it. So what I am hoping, is that if/when the dev team delivers in September, it is a positive signal to external forces and then we see more outward promotion and it sees a cycle like Quark. Of course, after the winter holidays last year we all know where Quark went. Unfortunately that seems to just be the way the alt markets work. To some degree I suppose it is debatable if that is what we have seen in Bitcoin as well, and perhaps we are on the downward side of the great Bitcoin pump and dump of 2013.
Of course my above paragraph of commentary pre-supposes that one's only focus or interest is in price going "very very high!" but aside from that I could see Cloak gaining wider regular usage by people as...*ahem* a currency and not a commodity. A counterpoint to that argument however is that other coins have also implemented markets that...see no use. So I have to assume that most people's interest is just in price going "very very high!"
But remember, it is a zero sum game, every time the price goes very high, somebody is buying at that price, and becomes the new bagholder filled with emotion and anxiety on the other side....
...but then again maybe I'm the fool. I don't think we will ever see $1000 bitcoin again, I think the price will trend to around $100 over the next 6-12 months unless someone decides to pump it again.
Of course my above paragraph of commentary pre-supposes that one's only focus or interest is in price going "very very high!" but aside from that I could see Cloak gaining wider regular usage by people as...*ahem* a currency and not a commodity. A counterpoint to that argument however is that other coins have also implemented markets that...see no use. So I have to assume that most people's interest is just in price going "very very high!"
But remember, it is a zero sum game, every time the price goes very high, somebody is buying at that price, and becomes the new bagholder filled with emotion and anxiety on the other side.......but then again maybe I'm the fool. I don't think we will ever see $1000 bitcoin again, I think the price will trend to around $100 over the next 6-12 months unless someone decides to pump it again.