Black Coin

dozerz said:
agree its easy to get a coin up and running but thats not what makes it successful and gives it value. likewise people buying into it is not the only reason it gives value as you have identified with bitcoin. so is bitcoin excluded from the ponzi umbrella?

on topic, who is calling the bottom for bc?
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The mining pool still has pretty strong support, I would hope that it can fall no lower then 15k Sat as the mining pool could buy up every coin in existence in a few months although I would like to think that 19k sat is the lowest we will see. It was an absolutely crazy weekend but if you bought in last Friday it was still fluctuating between 10k-15k sat. Definitely should have taken some profit although to be honest I wasn't around when it spiked up to 90k by the time I came back it was around 50K and I wasn't really sure which way it was going to go.

Earthjade said:
OK, prediction time -
BC will be weak another 7 days (more or less) and should go slightly lower. Then it will have another spike that will take us over 30c before that too fizzles out and BC's price falls permanently to new lows around maybe 5-8c.

I'm only saying this based on the fact many alts have two peaks before they fizzle out (DOGE, QRK, IFC, DRK).
And we've just seen BC's first peak.

It seems a typical alt price pattern is:

1) Stealth phase (this topic definitely covered that)
2) First spike - awareness (BC is now on the speculator's radar)
3) Drop and reconsolidation (still reeling from the fallout of the plummet - we are here?)
4) Second spike (now speculators are all in - those that missed the stealth phase and first spike want a piece of the action now)
5) Second drop (profits are taken, sheep are shorn)
6) The doldrums (where QRK and DOGE are now, flatlining but gently gliding downwards and in a state of constant weakness)
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At current multipool strength, I think 5c won't happen again 8c possibly (but not if btc keeps going up) The only thing I would be careful of is comparing Blackcoin to other POW coins. The POW coins constantly have new coins coming onto the market, that the market either has to absorb and buy to keep the price inflated. I am not saying that this is the "one" coin that will enter new paradigms just that the economics on it are different. We have a closed supply (1% inflation through staking) and we have daily guaranteed buy support. This is what the other coins were lacking, new capital daily to absorb the new supply

Earthjade said:
But I'd be interested to know if you think BC will see another spike.
I'm actually thinking of getting back in on Friday or Saturday, around the time of the payout.
If things start turning upwards on Sunday, we may see another stupidly unjustified spike next week, but I wouldn't know if it's going to be lower or higher than the last one.
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Sorry what payout are you referring too here?
heartastack said:
Wow what a ride that was. Can see how people completely loose their heads in bull markets (but then, I have already been through the silver bubble - how quickly we forget eh).

Glad you participated and profited Earthjade. It was a lot of fun!
I certainly can't retire on profits now lol but I took enough to cover all my debts. So it's a good day.

My most memorable moment: On the forum one member declared he was selling to buy a flash new car (when BC was 80K), and the whole forum was cursing him and telling him he was an idiot.

I may still win that ounce though...
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Glad to see you pulled your money out, and hopefully still have a decent stash of Blackcoin! Hopefully when coinkite goes live we will see another rush to get in, I think some people realized that being a month away they had some time to play around!
 
brisbanecoin said:
I am not saying that this is the "one" coin that will enter new paradigms just that the economics on it are different. We have a closed supply (1% inflation through staking) and we have daily guaranteed buy support. This is what the other coins were lacking, new capital daily to absorb the new supply.
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That's one of the reasons BC is still worth watching, the other being my theory that it's likely BC will have one more spike up. We don't know if POS coins will follow the same pattern as POW coins, but I'm going to say the dynamics of speculation are stronger than the technical characteristics of any particular coin.
Also, the "payout" I was refering to is just speculation on my part, but the Blackcoinpool community likes to make incentives from time to time, like the Black Friday one.
If the community gets together to do something like that again, then that could give the coin another bolster of support.
 
Earthjade said:
brisbanecoin said:
I am not saying that this is the "one" coin that will enter new paradigms just that the economics on it are different. We have a closed supply (1% inflation through staking) and we have daily guaranteed buy support. This is what the other coins were lacking, new capital daily to absorb the new supply.
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That's one of the reasons BC is still worth watching, the other being my theory that it's likely BC will have one more spike up. We don't know if POS coins will follow the same pattern as POW coins, but I'm going to say the dynamics of speculation are stronger than the technical characteristics of any particular coin.
Also, the "payout" I was refering to is just speculation on my part, but the Blackcoinpool community likes to make incentives from time to time, like the Black Friday one.
If the community gets together to do something like that again, then that could give the coin another bolster of support.
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Fair enough, I noticed on the chat boxes on certain sites were going off because they thought the multipool had incredible power but the speculation (almost 10,000 btc in 24 hours, the little 120btc multipool seems like nothing) So I would agree that the dynamic of speculation proved to be stronger, but the technical characteristics is what makes Black coin almost the perfect day traders coin.

I was wondering if I missed the news of a payout on the weekend (I just noticed that it seems to get pumped on the weekend) So thank you for clarifying!

Anyways best of luck to all!
 
The most horrifying thing is just how much money is waiting on the sidelines for the next best thing.
It's pretty obvious from the forums that kids are making serious dollars here.
I think looking at the big picture here, we're in that small window where it's actually easy to make money in these current, cheap, unregulated environments. I wonder how long it's gonna last?

Count me in
 
Make?
Make and lose is more accurate.
People are buying Porsches buy receiving "donations" from people that buy at the top of spikes or hold too long.

BC really is a lesson.
When the price spikes and you ride it up, for God's sake cash out your original investment and a little on the side. The rest is gravy.
If a spike looks too good to be true, it is. Why the **** did I hold thinking BC was going to get crazier when my gut was screaming "out! out!".
Greed. I lost a potential 300% return.

So what is the lesson?
Take your profits as you make them and be happy. Don't continue to hold, waiting for the big payout because chances are, you're already at the peak.
 
Earthjade said:
Make?
Make and lose is more accurate.
People are buying Porsches buy receiving "donations" from people that buy at the top of spikes or hold too long.

BC really is a lesson.
When the price spikes and you ride it up, for God's sake cash out your original investment and a little on the side. The rest is gravy.
If a spike looks too good to be true, it is. Why the **** did I hold thinking BC was going to get crazier when my gut was screaming "out! out!".
Greed. I lost a potential 300% return.

So what is the lesson?
Take your profits as you make them and be happy. Don't continue to hold, waiting for the big payout because chances are, you're already at the peak.
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Yep, so instead of investing with the mindset of "I've found the next bitcoin", we should be of the mindset "hey this looks like it could form a speculative bubble, I'm going to ride it for modest profit and move on to the next one".

Profitable strategy in this climate of pumps and dumps. It will settle eventually but look how much stupid money poured into BC. Plenty more opportunities ahead! :)
It's faster, easier and cheaper than the stockmarket.
 
heartastack said:
Plenty more opportunities ahead! :)
It's faster, easier and cheaper than the stockmarket.
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Find the next BC that's currently in stealth mode, and I'll pay attention, heartastack.
Only this time, I'll be much more conservative in how I play it.
 
BC starting to pump a little this morning - doubled in price since 12 hours ago.
If you want to exit your positions with some profit, start watching the charts.
 
Trader's paradise right now, still trading on immense volume. Looking forward to getting stuck into it this weekend. Not going to say I'm bullish yet.
 
I still say we're going to see another BC spike to around 30c.
When the price dips below 20K Sat sometime today, I'm getting back in.

Long term I have no idea where BC is going to go, but short term we'll get one more spike early next week and Brisbanecoin will have one more chance to get out with a 2 or 3 bagger.
 
Let's hope so! I'll join yas.

Only getting to sneak glimpses at work but it looks like there are still miners and enthusiastic religious BC fanatics on the forum doing what they can. Admirable. Volume looks good I'm sure the whol crypto world has now heard of BC and I can't see it going much/any lower than 19k either.
 
Earthjade said:
I still say we're going to see another BC spike to around 30c.
When the price dips below 20K Sat sometime today, I'm getting back in.

Long term I have no idea where BC is going to go, but short term we'll get one more spike early next week and Brisbanecoin will have one more chance to get out with a 2 or 3 bagger.
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Haha, I got in early! My only mistake was trading on Cryptorush. If I only wanted a 2-3bagger I would just cash out now. Just no other coins that Long term I would rather be in at the moment.

Unless something major happens, with all the support the coin has I don't ever see it returning to sub 10,000 level. Within a month when Coinkite goes live I expect another spike, add to that the last month of consistently being in the top 5 volume for a coin still makes it a winner in my books, prelude and moolah have added bc/usd markets do you really think it will take that long before a bigger exchange picks it up. The coin is only a couple months old, and the community is growing!

Even after a lot of miners pulled out, the blackcoin pool still has the ability to pump 60-80btc a day into Blackcoin.

Even with last weekends crazy spike we are still trending up week after week! Look at it this way if silver was $1.70 a month ago, $3.40 2 weeks ago $7 last week and $11 this week would you still think it was bad because for a couple days it shot up to $40 and came down higher then the week before or would you look at the long term trend? Guess it depends where you buy!

Either way, I wish everybody luck and if you happen to find what you think is the next big thing please share it with the SS community!
 
Definitely mate!

The one thing that worries me is the impact of the 1-2% bagholders. Just after the dump there was a 540BTC/1M sell wall at 50k (there 1 minute, gone the next = 1 person). There are some monsters out there.
 
heartastack said:
Definitely mate!

The one thing that worries me is the impact of the 1-2% bagholders. Just after the dump there was a 540BTC/1M sell wall at 50k (there 1 minute, gone the next = 1 person). There are some monsters out there.
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For sure, but I expect people who did really well to take profit as we go along are climb, Do you really think he would rather sell at 50k or wait till 100k and get 1080btc, just depends on the momentum. If he left It up it would take the pool about a week to get through and redistributed so not really to worried about it. If the pool regained the momentum it had when he put the wall up it would have been chewed through in a few days. Either way I am still a believer its heading up!
 
brisbanecoin said:
heartastack said:
Definitely mate!

The one thing that worries me is the impact of the 1-2% bagholders. Just after the dump there was a 540BTC/1M sell wall at 50k (there 1 minute, gone the next = 1 person). There are some monsters out there.
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For sure, but I expect people who did really well to take profit as we go along are climb, Do you really think he would rather sell at 50k or wait till 100k and get 1080btc, just depends on the momentum. If he left It up it would take the pool about a week to get through and redistributed so not really to worried about it. If the pool regained the momentum it had when he put the wall up it would have been chewed through in a few days. Either way I am still a believer its heading up!
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All great points, I really don't know. But I do think some of these early miners are quite stupid when it comes to trading/investing. That's why it is essential the distribution is fair. I know BC is better than the vast majority, but it's still got a few fat holders capable of doing damage.

In other news, I'm back in at 20500 (play-money only!).
 
Earthjade, hope you managed to get in. Pressure mounting.

Edit: Needs to break through 27k (double top). Very bullish if it does
 
I'm back in the game, but bought at 25K, not the 20K I wanted.
Opened a Mintpal account this time because Cryptsy is very unreliable today and 70% of BC trades go through Mintpal, which should mean orders get filled quicker.
 
Mintpal is reliable, has a nice layout, and is the best indicator / driver of price. You won't be disappoint.
 
I was pushing from 2550 to 2700 with 1.5 bitcoin (few other traders were helping out). Sellers only starting chipping into it at 2700. The selling is pretty weak, I'm happy to sit on it now and wait for the break-out. *turns on tv*
 
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