Anyhow, IF we see BlackCoin starting up a large Wave 3 here soon expect the rally to be far larger than the Wave 1 we just saw (and Wave 1 more or less took us from 5k to 95k, or an 1800% return). A large Wave 3 could easily take us to 400k (a 1900% return) and potentially much higher due to the ridiculous strength and speed of Wave 1.
I don't believe in any kind of chart analysis as a predictor... but I do believe in your fundamentals statement: coin has shown it has good value as a crypto currency for the original purpose Bitcoin was intended for: except done more efficiently and faster. And there's no mining inflation... But I actually also like NXT for the same reason (also an investor in NXT).
Short term, BC is still not known by many, yet.. and the benefits of BC not understood by many.. This will change over time, but until that time where it reaches a broader audience, it will be difficult to sustain the interim valuations we saw from past few days.. That said, long term I'm a believer in this coin.
While I partially agree with you (as far as technical analysis) - it actually is accurate enough much of the time to be very useful. In exactly the same way that studying history is useful, or psychology for that matter - because ultimately almost anything considered valuable in this world (especially crypto currencies) has little to no
intrinsic value - the obvious exceptions being food, water, and shelter. Everything else is people - so although you can debate the validity of a particular statistical or technical theory - you can't debate the fact that people are creatures of habit, the broad majority of which spend their lives following the herd.
Simply being involved in crypto currencies at this point means you're slightly more of a maverick and less of a sheep - but the 'follower' mentality is alive and well.
If stocks, currencies, and even consumer goods were purchased only based on their fundamentals - you would never be able to trade for profit. Well, you could, but it would be as boring as following Warren Buffet's trades (note that I didn't say you couldn't make money
investing that way - but you won't
trading per se).
On the other hand if you look at almost anything that has the same situation as crypto currencies - even just pop culture 'properties' like Britney Spears or Justin Bieber, or a TV show like Mad Men or CSI.... it actually follows a very similar pattern.
Does the following describe a coin, country, celebrity, band, and/or creative product?:
1- Nearly complete obscurity.
2- Tiny cult following.
3- Moderate press coverage and some public notoriety.
4- Moderate money infusion, marketing, and popularity.
5- Disillusionment of cult followers & mass popularity.
6- Explosive growth and notoriety.
------------------------------------------------------
7- Crisis of control - loss of popularity.
8- Replacement by similar property currently at step 4.
9- Return to obscurity.
-or-
7- Adaptation to current prevailing trends.
8- Universal notoriety and adoption.
9- Nominal reduction in growth but sustains value long-term.
(* And I
completely agree with you on the fundamentals of BC, of course *)
