Feathercoin up 400% in a week
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Did not have enough time to study the movement, but my chart-gut says simple pump
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@moonman said in Feathercoin up 400% in a week:
Did not have enough time to study the movement, but my chart-gut says simple pump
don’t understand how it can be a p&d… it’s only worth dumping if the price has gone up like now… unless someone knew beforehand that it was going up…
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Just a guess but say someone (A) with £100K, he buys buys buys, from 4pa coin to 8p, hoping for other people to join in who (B) even realise it’s p d, they try to make quick profit and buy at 8p. Price goes up to 10p. (A) sells all at 10p, makes a profit on each coin ranging from 2p to 6p in each coin. B who bought at 8p bought something that was worth 4p. of course. it’s easier for me to write whatever I think could have happened, will be miles away from the truth though.
But as feathercoin real worth is not affected in the price, it could all be genuine and some funds/companies etc might just be stocking up for long term.
100 different possibilities.
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@vigospqr said in Feathercoin up 400% in a week:
Just a guess but say someone (A) with £100K, he buys buys buys, from 4pa coin to 8p, hoping for other people to join in who (B) even realise it’s p d, they try to make quick profit and buy at 8p. Price goes up to 10p. (A) sells all at 10p, makes a profit on each coin ranging from 2p to 6p in each coin. B who bought at 8p bought something that was worth 4p. of course. it’s easier for me to write whatever I think could have happened, will be miles away from the truth though.
But as feathercoin real worth is not affected in the price, it could all be genuine and some funds/companies etc might just be stocking up for long term.
100 different possibilities.
I’m still learning all this…
Does seem odd how it jumped so quick… i guess as you say there could be a million different reasons as to why it’s jumped up… lets hope it means something is thinking of using it for there project :)
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This kind of movement looks like a pump, nothing more. FTC has many whales that pump the coin whenever the hell they like.
having said this, most of the big markets are reporting green atm.
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Also, regarding dumps mentioned a few posts above: Always remember skimming even cents on each bot transaction can accumulate when you are playing with large capital (thousands of transactions with marginal profit = large profit).
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A random thought comes to mind. Probably not really likely here, but I thought I’d ask.
If you ran a site like coinbase and want to fill your reserve, (initial reserve) to offer a crypto currency for sale . how much reserve would you want to hold to cover orders?
I would imagine any company doing this would take its time about gathering coins but… well i dunno.
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@acidd said in Feathercoin up 400% in a week:
This kind of movement looks like a pump, nothing more. FTC has many whales that pump the coin whenever the hell they like.
having said this, most of the big markets are reporting green atm.
Concept being just mine as much as possible and then sell it all quick? Seems to be many types of pump and dump! (google)
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If you look at volumes on DOGE, FTC, BCC, etc., there was a ton of volume on these coins yesterday all at once. In fact DOGE had the highest one day volume on bittrex in history. This makes me think it’s a single group or entity putting down some volume. Most likely this is someone that moved a bunch of coin to BTC in anticipation of the BTG split and are returning to third tier alts. (Not this kind of movement on ETH, LTC, XRP and others)
It could also be that all these new crypto hedge funds are heavy in BTC, ETH and other top 10’s and have a lot of money they need to put into older, tried & true coins that have been around for a long time. The new investment money from all the noise over BTC this year is likely to cause a second bounce for a lot of coins IMO.
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I feel the alts are undervalued at the moment, especially the older coins like FTC, Peer etc. I saw a couple of posts on reddit a week or two ago, stating how undervalued FTC was. I bet that caused a couple of people to open their physical wallets.
I haven’t bought FTC in years, I just realised I didn’t even have an account on this forum but I have been lurking on here since 2013. I was an avid miner and bought some when they were 10p’ish a coin. Wish I dumped a lot of money some money a few weeks ago now ! haha . But then again I bet we all wish we put in 10k in to LTC etc when the price was only £1 a few years back. god damn it makes you sick doesn’t it! :)
I lost my 100LTC wallet after a reformat too, every time I look at the price i wince.
Once these coins are easily exchangeable I think the price will rocket. The main problem with these coins at the moment is they are such a pain to sell and not enough merchants take them.
One day when we can all use our phones that are loaded with coins, touch to pay at any merchant, between friends and countries will be the day this stuff really works. -
@digga said in Feathercoin up 400% in a week:
I lost my 100LTC wallet after a reformat too, every time I look at the price i wince.
Ouuch : I feel that. Been helping some meat worlders recover some wallets, still to open Bitcoin wallet with forgotten password.
Trying to be positive …
The only good thing to say is it get’s you “up to speed”, learning and setting methods in place to secure your own finances. It’s also a valuable skill to experience recovering wallets and keys, sort of “future accountant”. -
@wrapper
Yeah I can’t believe I was so careless. Back then 100 LTC was £100. Incidentally I made 2 purchases that day from bittylicious, some FTC + some LTC. I went and backed up my FTC wallet as I bought those first. Looks like I bought the LTC and had the wallet installed on C: and forgot about it. Crypo was so dead then and I guess the £100 really wasn’t a big deal in my life entiretyI decided to upgrade my desktop so I took the SSD and installed it in my new machine, formatted and reinstalled windows. Fast forward 12+ months and then I see LTC hit £50. I was like hmm, let me see how many LTC I got (out of interest) oh… I can’t find my LTC wallet, wait a sec! oh shit…
Many a night I tried to recover the wallet.dat file with various recovery tools, but I could only recover some of the program files. Those blocks were no doubt overwritten and overwritten again months ago.
Decided to take it on the chin, as it was causing me many sleepless nights and anxiety as I continued to see LTC hit £70 and was thinking what I would of done with that 7k. If I could find a specialist to take the drive to bits, then perhaps i’d have a chance. If I had 1000 LTC on there, then I probably would have.Nowadays I decided to buy 10% of my pay check (after tax) on some crypto per month. So i’ve got about 11LTC so far. This helps adjust for crash and hikes, as for all we know if the government bans/makes it impossible for exchanges in 2 years, we are all out of luck.
I also decided that i’d never sell what crypto I do have for this small gain. I’d rather wait until this system finally works and it’s worth selling, or I’ll take the money I have invested on the chin (which will probably be less than a few thousand.
Hell I guess if FTC goes to £4, i’ll cash out too :) -
@calvinweight
FWIW, mining activity also picked up in the past few days. FTC network hashrate more than doubled from around 1.5 GH/s to 3.5 GH/s. Coincidence? -
@taurus not suprised since the price has quadrupled. More profits for the miners. Wonder how long the price rise will continue.
Wish I could go back in time 3 days ;) -
@digga said in Feathercoin up 400% in a week:
More profits for the miners.
Actually, no. Since the network difficulty has also quadrupled, the profits are essentially unchanged.
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@taurus hmm, looks like it’s only gone up about 2.5 times to me. 20->50. Profits should be significantly better, until everyone else moves :)
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Don’t underestimate the hashrate thrown in by the multipools. They switch on and off, creating peaks in hashrate.
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@wellenreiter said in Feathercoin up 400% in a week:
Don’t underestimate the hashrate thrown in by the multipools. They switch on and off, creating peaks in hashrate.
Was a fairly consistent 1.2-5gh until this madness! Gone from 20-30 coins a day depending what i had mining to around 10 with both cards at max :(
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@gooders well at least with the price is triple what it was. The value should be about the same. (assuming it maintains)
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@j_scheibel said in Feathercoin up 400% in a week:
@gooders well at least with the price is triple what it was. The value should be about the same. (assuming it maintains)
Yeah… i’ve not cashed out just yet… going to risk it!
Wish i hadn’t cashed out 250 coins at 850 just a week ago! Part of trading i suppose… i am not mining to make money, that’s just a bonus towards costs!
