Quote from: JulioCesar on July 16, 2014, 01:34:15 PM

Quote from: jabo38 on July 16, 2014, 06:08:41 AM

Quote from: ma72835 on July 14, 2014, 03:06:51 PM

It's fairly obvious what is happening with trading of this coin. There isn't any dumping happening.

Due to the volatility in (low) price, it's very feasible to quickly increase your holdings by relatively high percentages. Think of it this way: if you sell at 5 and buy back at 4, you pick up an additional 20% worth of coin. It's not about making money on trades ATM with this coin, it's about taking advantage of volatility to increase holdings. The lower the value, the higher the return. How else would anyone explain 5+ BTC orders on both sides? It's the reason Mintpal is so popular as an exchange. With high trade volume there is extremely high volatility, and those that pay enough attention can pick up small amounts of money all day long by hedging themselves and staring at the screen for changes.

Trades between 4 and 3 pick up an 33% increase, etc. The value will not increase as it is extremely profitable to trade on these low numbers. We need to do something drastic to pull the coin out of single digits. My recommendation: pull ALL sell orders.

Simply stated: Trading in single satoshis can net upwards of a 10% increase per trade. Trading over 10 sats lowers this quick buy/sell profit potential to under 10%. Break out a calculator and see for yourself. Altcoin markets are popular simply for this reason, and this reason alone. Nobody cares about "features", nobody cares about the dev teams, and nobody cares about a "cause". It's literally all hype and market manipulation. Look at some coins recently that were obviously scams and massive fails like AsiaCoin, yet for some reason those continue on because nobody gives a shit. Shit on Poloniex like "Limecoin Lite" that was sold even before the coin was *invented and released*, which to my knowledge to this day hasn't happened yet but it still trades. They just look at numbers and how to manipulate them.

You guys forget that this is a Chinese exchange and they are AMAZING at this. Chinese absolutely LOVE to gamble, and since they can't here as gambling is illegal in China, cryptos are a way to gamble and not an investment.

I think the only way for this coin to break the cycle is either deeply integrate with NXT as a "silver", and seriously step up our game with utility. By utility, I don't mean buying stuff online (because honestly, even if the website takes BTC I still use my credit card, I did that today with VPN service), but doing things like making a secure online wallet publicly accessible for all and removing the tech barrier that is keeping cryptos stuck in toxic online forums. This "boys club" attitude needs to stop. Bounties are pointless because it doesn't elicit professional work, it just "gets the job done". Seriously, hire the right people to get the job done right.

There's a word in Taiwanese with means "people that got rich quick by pure luck and have no class", and that's my sentiment towards cryptos now. Whatever happens with this coin in the future, it needs to not be a repeat of the others. Otherwise, I'm calling it quits completely on crypto, mostly out of disappointment that so many people have fucked up a concept that could change the world. I've spent a considerable amount of time and energy supporting both Noblecoin (that guy is an unqualified, lying scumbag and everyone should stay clear), and EMC2 which was an amazing idea but was spearheaded by that scam artist bob something whom everyone is familiar with now and he fucked that all up. He commissioned me to provide a Chinese localization and tried to undercut my firm's actual rate by 1/3 and refused to pay. I eventually got it out of him, but the lack of professionalism displayed by all of these coins is disgusting. These coins are products and need to be treated as such. Coders are not traders/bankers/marketers/advertisers/account-managers/business-advisors, and need to stop pretending they are. There's a reason we all use banks and nobody uses crypto. Bank lobbies look nice and have friendly staff, but we all have to look at under construction websites rushed together, bitchy, self-entitled (for absolutely no reason, might I add) developers, and non-functioning markets based in Serbia? F that.

I run a successful media business in Asia and cryptos have brought me nothing but anguish and stress for the past year. I cannot waste any more of my time using my resources and skills trying to help causes and coins I want to support to be continually disappointed and disrespected like "I don't understand". For anyone who is curious, look through my previous posts for proof that I'm not retarded.

Credit to MaWo and Nxtblg for being very responsible devs, although I do wish they would act on my recommendations more quickly because I know what I'm talking about. I'm not a 19 year old who can install a graphics card, or a "gamer" who believes this is some sort of natural extension to my hobbies. I do not sit in trollboxes to lie to people, it is so classless and disgusting to deliberately mislead someone for a quick profit. I do not have time to sit around here any longer wishing for coins to gain in value. I'm getting stressed from the stupidity that routinely happens in this crypto "community" (whatever the hell that means), and then some new "prodigy" comes along and everyone falls for that guy's tricks. Then the cycle repeats.

As an honest businessman, I no longer feel comfortable participating in this crypto bullshit charade, which is now just like playing a slot machine. I believe this concept can change the world, especially for places that don't have govt/banks that function as well as ours do. Hours upon hours spent in these chatrooms, writing code for people, translating and not getting paid, my suggestions being ignored (only to be done by someone else terribly 2 months later), all for what? A few thousand dollars? Totally not worth it.

Things that need to be done ASAP:
Publicly accessible wallet so I don't have to type a friggin terminal command to use it. I said this a month ago and it hasn't been implemented yet. It takes a maximum 6 hours to do the method I mentioned before in a PM.
The weird version numbering and date system looks unprofessional.
The wallet layout is confusing and there needs to be a professional web developer to completely revamp it. I don't care about the assets or forged balance, or even the version number. I also don't care about the recent blocks. That is not relevant to daily usage.
Drop the whole sob story about being scammed and rising from the ashes. Nobody cares.
Focus on following the development of NXT, but the vanilla clone aspect is (in my opinion) pointless. Why wouldn't I just get NXT instead? What is the difference between NFD, NAS, and NTX again?
Increase the amount of and streamline the asset exchange and explain what the hell that is.
Professional translations and not begging someone who "just speaks the language".
Stop the associations with other bull alt coins and focus on BTC and LTC trade. Those are the only feasible coins.

Good luck to NFD, and I swear to god if I see someone type "to the moooooooooon" one more time.....

I think it is just that somebody programmed a bot to buy low and sell high, rinse and repeat. With predictable volatility, this is pretty easy to win most of the time. If I could script I would do it too!

What we can do against that?

dont sell ure coins in a smooth panic thinking. simple HODL and the we will all have a thanks to the value then Wink

CoinKombinat

Posts

Merits