RC4 and price

LonnieDRR

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Jun 24, 2014
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they were talking about it on bitcointalk this morning. They said they found evidence of a BOT buying and selling and pushing the price down. I don't know how that stuff works. Im new to all this.
 

acidburn

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May 26, 2014
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Hmm. I'm worried since a lot of folks might vanish from this venture. What if we lost the developer because it's now worthless? We'll all be screwed!
 

LonnieDRR

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Hmm. I'm worried since a lot of folks might vanish from this venture. What if we lost the developer because it's now worthless? We'll all be screwed!
I don't think Evan is going anywhere. This is his baby and he knows what the future holds.
 

acidburn

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May 26, 2014
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Yeah. I'm just very nervous. I have a few friends who held... Past tense around 10,000 coins and have now jumped the sinking ship in fear of their investment becoming worthless. Others follow which in turn leaves us in a bad way.

Those that provide MN services for a fee in drk will get hurt, potentially, stop providing the service... Then the infrastructure that we've worked so hard to build is at risk.
 
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LonnieDRR

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Yeah. I'm just very nervous. I have a few friends who held... Past tense around 10,000 coins and have now jumped the sinking ship in fear of their investment becoming worthless. Others follow which in turn leaves us in a bad way.

Those that provide MN services for a fee in drk will get hurt, potentially, stop providing the service... Then the infrastructure that we've worked so hard to build is at risk.
All good points. I personally hope it turns around and believe it will because of the technology. I bought my majority at 0.017 and now today its down to 0.0055
Big loss... but then again Darkcoin is still in Beta and not even fully developed yet.. RC5 is next.
 

acidburn

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May 26, 2014
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Yeah. I can only hope it makes a big drop so I can jump on, but even then it's going to take some balls to believe that the market will accept this.

It's one thing us believing in it, it's another convincing mass adoption.
 

GreyGhost

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So what do you propose?
I listed a whole set of propositions related to promoting the Darkcoin's value. ("privacy" vs. "anonymity" was one of the points I made) Too lazy to look for that thread now, but it is there.

Discussion here is good for it shows a level of concern we all share. Loses accelerate selling that than fuels new selling and, as such, does not inspire confidence in new buyers. Why would anyone buy if the price is steadily going down for over two months now? On June 2nd, the price hit all time high of 0.027 BTC and had been falling since. If this is not a red flag, nothing is. BTC falls and rises all the time, but DRK kept falling...

This is a great technological challenge for the developers, I get that. They have investments much larger than me or any of us - their time, their investors' money etc., - but this is the moment, I believe, in which all the key guys need to reassure us:

a) they are aware of the price's slide (and yes, there's nothing they can do, I get that as well);
b) they are NOT going anywhere and plan to stay with the Darkcoin for the long time. Developments just started;
c) they are brewing new, exciting, unique to Darkcoin, ideas while RC4 and RC5 etc., work is underway.

That would be a good start. We live in times in which once a product is perceived as 'fad' it stays the fad forever. The history is filed with great tech innovations that went nowhere for so many other reasons than its tech merit. I still think Darkcoin is "sexy" for layman, it has great design, and, above all, really promising technology, but this value bleeding is VERY, VERY dangerous!! I can't stress that enough. Once DRK falls below 10th - 15th place in Market Cap, the game might be over.

This WHOLE market rides on ENTHUSIASM and this, MOST VALUABLE COMMODITY is in danger. I will sink with the ship, if needed, but I would've never thought I was going to say those words ("sinking") to anyone. We need ENTHUSIASM back! I will put my money when my mouth is, and will buy DRK with BTC when deposit on CoinBase clears, but this is just a drop in the rapidly vanishing sea.
 

GreyGhost

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Evan said this on Bitcointalk forum: "From the looks of the thread all issues users are experiencing are not bugs at this point, just a misunderstanding of how Darksend works. All major bugs have been resolved and I'm going to move on to RC5 and other unique features of Darkcoin that we've had in the works for awhile (I'm going to wait till all of the weak hands have left the building then I have some really cool stuff to announce) - Evan"

Darkcoin is here. We need to hear from him here. What's the point of fiat stock market message boards lingo like "weak hands" and more importantly what is "real cool stuff"?

DO NOT GET ME WRONG - I have enormous respect for Evan and the guys, but this is also the point in which he might consider stop being mysterious and just tell us the story.
 

pyc

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May 15, 2014
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Seems market does not give a shit about funamentals. Sad thing.
Can't be more true in the case of altcoins + ....

Observed the markets for 2 and more years now, traded, invested, gained & lost money... There is one thing I'm absolutely positive about: Every fairly successful altcoin experiences initial hype & pump, and then dump to about 20% of the pre-rise value.

Conclusion is that Darkcoin (and no other altcoin) can recover on its own after rise & fall. We must wait for next Bitcoin bubble and then the ones with good fundamentals will catch the train and rise faster than Bitcoin. At the first moment, I bought DRK right on time (half of April) worth 5 BTC (could've thrown much much more). Cashed out at 7x (25x rise was too incomprehensible for me).... Then I entered the game of masternodes, ..... you may guess bought at 0.016, been holding still, lost too much that would me make want to sell.

The problem is..... when the next Bitcoin bubble will occur? There is an opinion of mine at http://www.reddit.com/r/CryptoCurre...eral_discussion_about_cryptos_ones_who_think/ Things are pretty dark for cryptocurrencies generally, in short to medium term means.

Sad story of altcoins - be exceptionally careful dealing with them and read this again :)
 

ImI

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May 27, 2014
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they were talking about it on bitcointalk this morning. They said they found evidence of a BOT buying and selling and pushing the price down. I don't know how that stuff works. Im new to all this.
thats bullshit! people always search for this kind of stuff when prices decline. a bot, a single big dumper, whatever. the simple finding that there are just more sellers than buyers doesnt come to their mind.

funny observation: nobody searches for bots, single big buyers, etc if markets are rising!

thats just bullshit-thinkin by folks who cant handle the truth of a declining market and therefore they are searching for scapegoats.
 

GreyGhost

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@ pyc -- In your article on Reddit you state: "Astronomic rise of Darkcoin was not the healthy demand by the masses for spending it, it was speculator's game. After the initial boom and crash, we will see a slow decline, every fairly successful altcoin has the same history and future."

I am not 100% sure I'd subscribe to your vision of the future. Apropos the same: Auguste Marie Lumière & Louis Jean Lumière, the inventors of cinema claimed: "the cinema is an invention without any future."

Well...
 

Light

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Jun 4, 2014
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true, just made 35 drk by playing with leftovers at the exchange ))
 

stonehedge

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Jul 31, 2014
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So have enough weak hands left for Evan to make an appearance and make his exciting announcement? Down to 0.0026.
 
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stonehedge

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I've got no choice but to hold. But seriously, this is a fire-storm that I was not expecting.
 

stonehedge

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Come on vertoe surely you have our glorious leader's phone number ;) I think a lot of people would like to hear his voice. People will stop mining if this continues for much longer.
 

andresescobar

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Jun 27, 2014
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I am not entirely sure about the best time to spread the promised news. We´ve had frustrating weeks of slipping downwards, now big hit in the face for the entire market.

-> Lots of people busy licking their wounds, maybe not giving a damn.

On the other hand, overall network health needs to be kept in mind - for some (late) masternode owners the game is on the razor's edge.
 
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vertoe

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Come on vertoe surely you have our glorious leader's phone number ;) I think a lot of people would like to hear his voice. People will stop mining if this continues for much longer.
Well he said some days ago that he puts hands down for one week to see how rc4 is performing and he will announce new juice rc5 features after that period.
 

stonehedge

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I was in a bit of a panic earlier but given how it seems no cryptos are having a good day, my belief in DRK remains in tact.

EDIT: If I make it through the day without at least one panic, its a minor miracle ;)
 
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GreyGhost

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When another 40% price drop overnight (about 90% drop from all-time high) creates only a yawn in me, I know I capitulated :)

The # of Darkcoins traded (in 24 hours) has risen to 6.14% of the total supply which is a sign that a capitulation in price may have occurred. I am really, really curios about all this. If I compare it to the fiat stock market shenanigans I don't see any real parallels:

- I am not aware of possibility to short sell Darkcoin, so short attack is not in place;
- I am not aware you could by Darkcoin on margin, so margin induced sales were not occurring;
- Given those two elements above, I can't see a 51% attack either. (even though 10 biggest holders have 32.39% off all the coins available)

I've seen only one big player selling 10,000 DRK (on 15th) while all other big holders are either holding or net buying.

So who created this huge drop? (one can't call it a volatility given a constant drop over the last 90 days; daily volatility is for day traders)

Miners leaving the ship? (any statistics I could look at i.e. how many people were mining 90 days ago, 60 days ago, 30 days ago, today?)

Owners (premined issue) doing the same?

After 90% price drop I'd really like to hear from Evan & Co. ==> are they still 100% in?
 

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flare

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After 90% price drop I'd really like to hear from Evan & Co. ==> are they still 100% in?
As i feel somehow being "Co": I still own every single DRK i have originally bought (unfortunately i was not a early bird) or i got from donations. My four masternodes still running :)

Had small chat with Evan during his nightly insomnia, and we both agree: Darkcoin is much greater than all of us - so stay tuned ;)
 

GreyGhost

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Great, thank you.

In all this mess that's going on I might have forget to tell you how great is to see developers talking with your supporters and small investors like my humble self. At this juncture I'd really like to dig deeper into this drop. In a fiat world it would mean death for Darkcoin.

I expected a vicious attack on it - given how big its potential is to fight the Financial Crime Cartel and the fascists structures of this world - but nothing indicates it is happening as I type. My admiration for the developers and their gigantic efforts on tech side is unwavering. Let us see how this will develop over the next several weeks and months, assuming masternods are still running and miners are not abandoning the ship :)