Post
Topic
Board Announcements (Altcoins)
Re: [ANN][HYP] HyperStake | 750% PoS | Advanced Coin Control Wallet | 11 Markets
by
Cor2
on 05/11/2014, 01:36:49 UTC
3. Progressive retaliation. If it is not enough, then we "go nitro". This means using some of BTC accumulated by HyperShield (donation, eaten buy walls...) to buy hashing power at nicehash. The multipool mines like crazy(loaf), much like a car with nitromethane. And I like the imagery more than "steroids" Smiley
I like the ideas, only I do not see how adding hash power could help with stopping a dump (someone selling too many coins on an exchange)
but I may be missing something.
Recently another coin suffered from a large dump by Crazyloaf and consequently the price remained half what it was before the dump.
I acquired a big chunk of that dump, so I felt happy to have bought cheap coins but also bad about the continuing low price.
So, I went into the exchange where this happened and strategically placed a buy order at the (still high) remaining sell price to get the
statistics back up to normal price, then I placed a few small buy offers at a much higher price than what was left over after the dump.
I noticed a few others also starting to act and moving their prices up, so in a few steps I placed newer and higher buy offers and got
a few others to follow, so the price ended up double what it was after the dump and stayed there. I did not use much BTC at all to do this,
so it is not required to be a whale to influence price strategically and bring it back to a sustainable level.
I feel that kind of price control might be needed after a dump to control the damage done by the price dump, so maybe you want to add that to the list.