[ANN] Blacknet BLN | Staking | Future of zApp & ZeFi

[IconicExpert]

Iconic, as far as I'm concerned you've been a success. BC has reached 10K on every exchange, except for Mintpal where it hit ~9900. No need to go overboard now or throw some claims around if it doesn't get there today.

Look at this positive : ~1000 BTC worth of BC has been exchanged at this price level over the past 36 hours. This is actually good, because when we finally do break 10K, this price level we are at now is going to become a very strong support level.

Thank you...However, this is not about it going over 10,000. I want to know why is someone pushing the price down artificially. Everything I said I would do was done. But...A lot of BTC has been spent trying to keep BC from going below 9000 and it should be well above 10,000 now.

PS: I am not "using this as an excuse"...it is fact.  

[MuffinMaster]

Iconic, as far as I'm concerned you've been a success. BC has reached 10K on every exchange, except for Mintpal where it hit ~9900. No need to go overboard now or throw some claims around if it doesn't get there today.

Look at this positive : ~1000 BTC worth of BC has been exchanged at this price level over the past 36 hours. This is actually good, because when we finally do break 10K, this price level we are at now is going to become a very strong support level.

agree with everything, just to add blackcoin hit 9970 on mintpal

Than you...However, this is not about it going over 10,000. I want to know why is someone pushing the price down artificially. Everything I said I would do was done. But...A lot of BTC has been spent trying to keep BC from going below 9000 and it should be well above 10,000 now.

PS: I am not "using this as an excuse"...it is fact. 

Possibly a fake wall, won't know until tested.

Don't worry about it not being over 10k, the longer in hangs out with solid bids at 9k+ the better the base and the larger the leg up.

what we need is to get the few dozen medium players into hundreds, then thousands.... then.... the world

[blade87]

Than you...However, this is not about it going over 10,000. I want to know why is someone pushing the price down artificially. Everything I said I would do was done. But...A lot of BTC has been spent trying to keep BC from going below 9000 and it should be well above 10,000 now.

The market can stay irrational longer than you can stay solvent.

The amount of stocks that I have bought that dropped on good news is laughable. But in the long run things were good.

[gonzoucab]

Than you...However, this is not about it going over 10,000. I want to know why is someone pushing the price down artificially. Everything I said I would do was done. But...A lot of BTC has been spent trying to keep BC from going below 9000 and it should be well above 10,000 now.

The market can stay irrational longer than you can stay solvent.

KEYNES!!!!!

[IconicExpert]

Than you...However, this is not about it going over 10,000. I want to know why is someone pushing the price down artificially. Everything I said I would do was done. But...A lot of BTC has been spent trying to keep BC from going below 9000 and it should be well above 10,000 now.

The market can stay irrational longer than you can stay solvent.

If I wasn't so tired this morning I would have recorded my screen and uploaded to YouTube. The sell orders were at 9600+ and there was a buy order for a 9550. Someone did a sell order for 9300 and it sent the price down very fast. From what I understand that is not suppose to happen but it did a few times. Many of you were still sleeping when this all was going on. Someone push BC down to nearly 9000 before a push was made to prop it up.

[hiddensphinx]

we all seriously need to re-consider lifting the ban on whale hunting 

[virtualfaqs]

Than you...However, this is not about it going over 10,000. I want to know why is someone pushing the price down artificially. Everything I said I would do was done. But...A lot of BTC has been spent trying to keep BC from going below 9000 and it should be well above 10,000 now.

The market can stay irrational longer than you can stay solvent.

If I wasn't so tired this morning I would have recorded my screen and uploaded to YouTube. The sell orders were at 9600+ and there was a buy order for a 9550. Someone did a sell order for 9300 and it sent the price down very fast. From what I understand that is not suppose to happen but it did a few times. Many of you were still sleeping when this all was going on. Someone push BC down to nearly 9000 before a push was made to prop it up.

Because regardless of everything you've done, there are still people out there who don't believe. Bitcoin had to jump through the same hurdles to get to $1000+.

also BTC is down from yesterday.

[gonzoucab]

Than you...However, this is not about it going over 10,000. I want to know why is someone pushing the price down artificially. Everything I said I would do was done. But...A lot of BTC has been spent trying to keep BC from going below 9000 and it should be well above 10,000 now.

The market can stay irrational longer than you can stay solvent.

The amount of stocks that I have bought that dropped on good news is laughable. But in the long run things were good.

The market can stay irrational longer than you can stay solvent.

The actual statement is that, in a crisis, "markets can remain irrational longer than you can remain solvent." In particular, Keynes was referring to stock market crashes, frequently resulting from panic selling. Asset bubbles consist of wild speculation in stocks, real estate or other assets (in one case, tulips). The assets rise in price far more than is justified by any rational economic analysis. At some point, the bubble bursts, and investors engage in panic selling, which is equally irrational. As a consequence, prices of that asset then fall far below the rational price

Thats what you think is gonna happen?

[mr_random]

Iconic, as far as I'm concerned you've been a success. BC has reached 10K on every exchange, except for Mintpal where it hit ~9900. No need to go overboard now or throw some claims around if it doesn't get there today.

Look at this positive : ~1000 BTC worth of BC has been exchanged at this price level over the past 36 hours. This is actually good, because when we finally do break 10K, this price level we are at now is going to become a very strong support level.

agree with everything, just to add blackcoin hit 9970 on mintpal

Than you...However, this is not about it going over 10,000. I want to know why is someone pushing the price down artificially. Everything I said I would do was done. But...A lot of BTC has been spent trying to keep BC from going below 9000 and it should be well above 10,000 now.

PS: I am not "using this as an excuse"...it is fact. 

Possibly a fake wall, won't know until tested.

Don't worry about it not being over 10k, the longer in hangs out with solid bids at 9k+ the better the base and the larger the leg up.

what we need is to get the few dozen medium players into hundreds, then thousands.... then.... the world

+1.

Don't forget a week ago we would have been very happy if someone told us that the 9000's would be the new floor.

I remember when the 5000's were the new floor. And 1500. And 600. More often than not once we find a new floor, we then move upwards.  

It's taken a lot of buy support to build up this floor and maintain and now the hard work is done as the floor is being maintained with only 400BTC of trades. Compared to 900 BTC of trades. Overall less buy support is needed and less people are dumping on average.

[blade87]

Than you...However, this is not about it going over 10,000. I want to know why is someone pushing the price down artificially. Everything I said I would do was done. But...A lot of BTC has been spent trying to keep BC from going below 9000 and it should be well above 10,000 now.

The market can stay irrational longer than you can stay solvent.

The amount of stocks that I have bought that dropped on good news is laughable. But in the long run things were good.

The market can stay irrational longer than you can stay solvent.

The actual statement is that, in a crisis, "markets can remain irrational longer than you can remain solvent." In particular, Keynes was referring to stock market crashes, frequently resulting from panic selling. Asset bubbles consist of wild speculation in stocks, real estate or other assets (in one case, tulips). The assets rise in price far more than is justified by any rational economic analysis. At some point, the bubble bursts, and investors engage in panic selling, which is equally irrational. As a consequence, prices of that asset then fall far below the rational price

Thats what you think is gonna happen?

Yes, just after we go to 100,000 satoshi.

[gonzoucab]

Than you...However, this is not about it going over 10,000. I want to know why is someone pushing the price down artificially. Everything I said I would do was done. But...A lot of BTC has been spent trying to keep BC from going below 9000 and it should be well above 10,000 now.

The market can stay irrational longer than you can stay solvent.

The amount of stocks that I have bought that dropped on good news is laughable. But in the long run things were good.

The market can stay irrational longer than you can stay solvent.

The actual statement is that, in a crisis, "markets can remain irrational longer than you can remain solvent." In particular, Keynes was referring to stock market crashes, frequently resulting from panic selling. Asset bubbles consist of wild speculation in stocks, real estate or other assets (in one case, tulips). The assets rise in price far more than is justified by any rational economic analysis. At some point, the bubble bursts, and investors engage in panic selling, which is equally irrational. As a consequence, prices of that asset then fall far below the rational price

Thats what you think is gonna happen?

Yes, just after we go to 100,000 satoshi.

Well that will be irrational jajajaja XD

[lixxy]

No volume on prelude I don't want to use Craptsy they smell like Gox  

[MuffinMaster]

we still have a powerful ally ! www.Blackcoinpool.com

Scrypt: 3119.97 MH/s | Sha256: 28.59 TH/s
Miners: (Scrypt: 736 | Sha256: 123)


growing a bit every day, I remember when it could barely get 200 people. now its close to 1000. Time to move those rigs over.

[exposebc]

This is not a coincidence...someone is sabotaging BC for whatever reason.[/b]

It's more likely to be a large holder waiting for sufficient liquidity to be available for them to cash out.

These alt coin markets are tiny. Look at the order book. It's all decimals of BTC that are on there. There's no liquidity to speak of - unlike, say BTC-e Bitcoin and Litecoin markets. That's why exchanges like BTCe don't bother with other alts. The volume in the mainstream coins is huge - pros that trade 50-100 BTC at a time.

If you have even 1 large holder who has a lot of BC wanting to profit take, you'd see exactly the pattern you've observed: wait for liquidity to emerge, cash out a load, then wait another 10 hours or so for the bid side to "recharge" itself, cash out again, rinse and repeat.

I don't think there needs to be any conspiracy associated with it - and even if there was, they'd still need to have the BC to be able to place the order so there's no material difference to what I've just described.

There are 75 million BC's in circulation. That is quite a large amount. It means that BC is already at a tenth of Peercoin's price corrected for coin supply. So even if it got to Peercoin's valuation it would only be a tenfold gain from here whereas the buy in required would be many hundreds of times the buy in that was needed to get this far.

Taking all this into account, it's not a bad point for a large holder to "get off the bus" since they could take the view that there's more chance of it going down than up from here. THat's what's behind those big sellwalls.

Think of a funnel with the hole plugged. It takes only 10 cc to get a 5 cm rise in water level but a 100cc to get the next 5cm rise. That's where BC is right now.

I agree.

BC is has become a day-traders delight.  But that is actually good, trading brings liquidity - liquidity is absolutely required to have a mature market.

The only conspiracy to contemplate is this:  trades on an exchange are not wallet to wallet.  A nefarious exchange could post all the walls they want. They can trade customer coins on deposit or simply short.  This is an unregulated market - they could get away with it.  Not saying it does happen but it sure could - just ask any MF Global customer (and they were in a regulated market!).

If this is a concern on anyone's part do 2 things:

1) Hold very little coin at any one exchange - this increases the risk of any such trading schemes.

2) As a community make sure the volume is balanced between many exchanges.  Anomalies at one exchange will stand out if multiple exchanges have statistically significant volume.

Finally many exchanges, all with volume, will allow the market to self-correct via inter-exchange arbitrage.

[Starving_Marvin]

Than you...However, this is not about it going over 10,000. I want to know why is someone pushing the price down artificially. Everything I said I would do was done. But...A lot of BTC has been spent trying to keep BC from going below 9000 and it should be well above 10,000 now.

The market can stay irrational longer than you can stay solvent.

If I wasn't so tired this morning I would have recorded my screen and uploaded to YouTube. The sell orders were at 9600+ and there was a buy order for a 9550. Someone did a sell order for 9300 and it sent the price down very fast. From what I understand that is not suppose to happen but it did a few times. Many of you were still sleeping when this all was going on. Someone push BC down to nearly 9000 before a push was made to prop it up.

I noticed the same thing. There is a small chance it could have been just a mistake, someone wrote a wrong number in the price field.

[toknormal]

The sell orders were at 9600+ and there was a buy order for a 9550. Someone did a sell order for 9300 and it sent the price down very fast

The reason for that is that the seller is maximising their trade by pitching the order at the optimal liquidity level.

If it's a half decent exchange (not Cryptorush) the trading engine will automatically feed them the highest bids, even though they've placed their order at a lower level. If someone's cashing out a large amount that's the only way to do it because if you let a large sell order sit on the book at above the top bid, all you'll do is push the bids down out of reach and destroy all the liquidity that built up during your 'waiting time'.

All this behaviour is totally consistent with a whale cashing out.

By the way, that's also sometimes the reason why you see sellwalls being pulled as the price is rising. It isn't always because people want to "hold". They're getting ready for a cash out by encouraging the bid liquidity to accumulate enough to absorb the dump they're about to execute.

[gonzoucab]

we still have a powerful ally ! www.Blackcoinpool.com

Scrypt: 3119.97 MH/s | Sha256: 28.59 TH/s
Miners: (Scrypt: 736 | Sha256: 123)


growing a bit every day, I remember when it could barely get 200 people. now its close to 1000. Time to move those rigs over.

3 day actualized data from

http://poolpicker.eu/

0.00435015 x MHS CoinShift
0.0034 x MHS hashCows
0.00331 x MHS on blackcoinpool

Profitability is coming down with the price.

[lixxy]

I would love if people used other exchanges... maybe these speculations would clear up then, you never know what's going on behind the scenes on some exchanges. I refuse to use Cryptsy after a lot of things that are shady on there and I somehow see a 2nd Mt. Gox happening with them. Prelude is freaking awesome and my new favourite but it has almost no volume because it's new and hasn't established a userbase. c-cex is okay.

[noerc]

we still have a powerful ally ! www.Blackcoinpool.com

Scrypt: 3119.97 MH/s | Sha256: 28.59 TH/s
Miners: (Scrypt: 736 | Sha256: 123)


growing a bit every day, I remember when it could barely get 200 people. now its close to 1000. Time to move those rigs over.

3 day actualized data from

http://poolpicker.eu/

0.00435015 x MHS CoinShift
0.0034 x MHS hashCows
0.00331 x MHS on blackcoinpool

Profitability is coming down with the price.

BTC profitability depends on the average BC price and standard deviation of the BC price during the 24 hour period. It was so high in the first evaluation because the BC price was rising during that time and therefore had a large standard deviation.

People who mine for quick BTC on the BC multipool should always know that they bet on a rising BC price and that they will be penalized if the BC prize drops. People who mine for BC can even see something positive if the price drops for a day, because then they receive more BC

[gonzoucab]

we still have a powerful ally ! www.Blackcoinpool.com

Scrypt: 3119.97 MH/s | Sha256: 28.59 TH/s
Miners: (Scrypt: 736 | Sha256: 123)


growing a bit every day, I remember when it could barely get 200 people. now its close to 1000. Time to move those rigs over.

3 day actualized data from

http://poolpicker.eu/

0.00435015 x MHS CoinShift
0.0034 x MHS hashCows
0.00331 x MHS on blackcoinpool

Profitability is coming down with the price.

BTC profitability depends on the average BC price and standard deviation of the BC price during the 24 hour period. It was so high in the first evaluation because the BC price was rising during that time and therefore had a large standard deviation.

People who mine for quick BTC on the BC multipool should always know that they bet on a rising BC price and that they will be penalized if the BC prize drops. People who mine for BC can even see something positive if the price drops for a day, because then they receive more BC

Thats dangerous because it could bring a downward spyral on prices, and believe nobody want that. Less proffit, less miners, less buy support, rinse and repeat.