I think Decred price will be low after launch. Biggest part of the miners will sell their coins as soon as possible. There are at least few reasons for that: 1. Nobody from big players will accept decred as payment method in first few months (except few people from the forum, but I'm afraid we don't have Elon Musk registered here) 2. While it's difficult now to mine bitcoins, it will be very easy to mine decred right after launch. So many people will try to mine as many decreds in a first few weeks as possible and sell them for any price to get some bitcoins. It seems that decred already quite popular, so thousands of miners can bring price down to a few cents for 1DCR. Anyway, we will see soon.
Look ETH as example. After 1 week after launch price reached 4 usd each, and there were million eth out due to previous ICO. everyone who bouth ETH during ico made +150% right after eth launch, but price instead dump as everyone was suppose to, encreae till 4 usd each. Cause buy demand was higher then sell demand. So,if 10 people going to dump, but there are 100 people going to buy, price will rise cause felling is that got potential (what is happenede to eth after some companies like samsung that used eth as payment) If at launch there is only dump and no buy support, this is a fail for decred cause most of investor think is not worth to buy or invest on it.
That is a given. Thanks for trying to clear things up for us all, I see that you do that a lot in this forum.
In my humble view it won't be the miners that will dump and tank the price initially. Miners produce new DCR at a significant cost and they produce them slowly. Hence they will not sell them cheap. I think the big dump that will drive price down will come from those who got the coins for free without any cost and effort in the airdrop. Many of those 5000 will have signed up only to get fast some "free money" and cash-out quickly. And who knows how many have signed up with a dozen sockpuppet accounts each from BCT or Reddit just for that. More than 600k coins available immediately! If only 100k of those will be for sale...
If this is true, means that airdrop was fail, since that potential activity required for an invitation was just an alibi. But i believe decred looked everyone who applied to airdrop to check if they were not a bot. So i'm confident about them.
I do not think is a fail justfog. No one can control how many accounts a user or how many times you change your ip to register. The system is so... Secure and unsafe.
Hahah) Great proof for my words, thanks. ETH was launched at price 0,01BTC and in first 3 days fell down to 0,002BTC. And actually, since then it's never again reached the price of 0,01BTC. Sad story.
What to look up? That a linked user profile on BCT or Reddit does exist? There's nothing more they could have done. Now how many people there have multiple accounts? Providing pairs of email addresses and URLs to (even other peoples') user profiles is trivial, without being a bot. Making it look legit by using different VPS, user agents and so on is trivial too. If they accepted registrations over Tor (don't know) even more trivial. No way someone who would have wanted to register with 500 different IDs couldn't have done so. Disclaimer: I have registered only with one ID. Not everything that can be done should be done.
This is of course a legitimate concern. However, in the "big picture" It won't make that much of a difference, imo. Remember, in the course of getting the system up and running- not only will there be individuals who 'hoard' their DCR, but there will be more than enough who lose the key to their wallet, misplace their private key (when we get that far along), etc... During this phase, at least among this group of users, the main priority will be to 1.) support development and developers 2.) actively support and encourage the transition and 3.) USE your DCR in a bigger way than BTC. BTC created awareness and demand of digital currencies, now let DCR push it. Dont' worry about what a few ppl attempt to do during the first days of kick-off.
Now, to get back on topic my plan is to immediately (well, I've already started, so better say "continue") alerting online merchants of the next developments. Once GoLive occurs, it will be up to the initial group to begin using the coins or if they are not accepted, assist the merchant in gaining the ability to accept them in exchange for goods and services. Other uses such as remittance and trading will come with time. I will purchase enough DCR over the exchanges, so that it will begin to add up (ca. EUR 1k) and from there begin using them.
Mind to share the Musk story? I must have missed that. Did he buy BTC in the early days? As much as I admire him for Tesla and SpaceX, with regard to money and politics he is pro-government and pro-exceptionalism. Which just proves that being brilliant in engineering doesn't prevent you being a nitwit in politics. His knowledge of history in general is probably lousy at best. He even said he prefers the Edison fraudster over Nikola Tesla
We need some big PR. Like a billionaire like Musk,Winklevoss twins, Gates or somebody with a big impact, to support or adopt Decred. This can also be done by a big company. Nowadays, all it takes is a blog post (like Medium) or elsewhere to increase or decrease the value of something. If a cryptocoin wants to disrupt Fintech completely, it would need to support hundreds (even thousands) of transactions/second and maybe like a Trillion dollar market cap. For a coin with 21mil supply, the value of each coin should be somewhere around 48,000$ to attain the aforementioned cap. So, it's not uncommon to see coins with this value in the future, provided banks and/or Fintech startups do not figure out a way to to invent Crypto-currency like property with Fiat. So I would happily say there's a lot of potential in this field to change how the world works.
So, I will be than first one with concrete offer. I'm paying 49$ (or BTC equivalent by Bitstamp) for 100 Decred to first one who is willing to accept this offer. Transaction will be executed after main net and wallet launch. I will pay this amount directly to seller account but after few confirmations. Seller should have EU-SEPA account with valid SWIFT code to receive ammount directly on bank account, or BTC address. P.S. Not send without contacting me first and settle out deatils!!!
So, I will be than first one with concrete offer. I'm paying 60$ (or BTC equivalent by Bitstamp) for 100 Decred to first one who is willing to accept this offer. Transaction will be executed after main net and wallet launch. I will pay this amount directly to seller account but after few confirmations. Seller should have EU-SEPA account with valid SWIFT code to receive ammount directly on bank account, or BTC address. P.S. Not send without contacting me first and settle out deatils!!!
And why you copy-paste my post but add nothing, ask nothing, offer nothing...? You accept my offer or you only trolling all over the forum?
Actually, he did change the dollar amount. I agree though, that post was bad form regardless if it was a troll or a legit offer.
We should create a new Discussion Topic called 'Market Place', where buyers and sellers or any interested party can contact each other and trade.
I already send PM to _ingsoc, asking may I create something like "Bid" and "Ask" threads on forum. He didn't respond yet. Because in case of any problems, when someone will loose his money or coins, people will start spam developers with their complaints, but devs can do nothing. So maybe that not so good idea, unless developers want to have that pain in the ass on the forum.