What's Going On?

Discussion in 'Marketplace' started by Shadowlance, Jan 13, 2017.

  1. 2017/12/15 - Decred v1.1.2 released! → Release Notes  → Downloads
  1. Shadowlance

    Shadowlance Full Member

    Jan 9, 2016
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    So I'm watching the price of Decred skyrocket over the last few days. It's almost tripled in value since Dec 28. Now I'm totally thrilled to see it going back up, but I want to see sustainable growth, not a boom and bust.

    Does anyone know what 's caused the huge interest?
     
    colt05 likes this.
  2. Alexoz

    Alexoz Member

    Dbt1033 and Coin artist
     
  3. Alexoz

    Alexoz Member

    They are pumping the price with all their friends
     
  4. LedgerNano

    LedgerNano New Member

    Jul 4, 2016
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    Beyond the announcement of the 2017 roadmad, with the recent appreciation of bitcoin in recent months, the value went from 0.003 (August) to 0.0004 weeks ago. Investors were selling their DCR and another altcoins to make a profit on the rise of bitcoin, and with this recent decline in btc, they are coming back before it's too late to repurchase by the same value that they sold (speaking in USD terms)..
     
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  5. Johnshpon3

    Johnshpon3 Member

    Dec 25, 2015
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    Maybe is just classical pump and dump which is property of so many altocins. Only time will tell. Just huge volume of tranasactions give us some hope for suistainable rise.
     
  6. Ian Baldur

    Ian Baldur New Member

    Jan 14, 2017
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    barcelona
    i bought a lot of cheap coins on a... little volume exchange (without names), great profit! :)
     
  7. drunkenmugsy

    drunkenmugsy Sr. Member
    Advocate (Reddit)

    Dec 28, 2015
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    It could also be affected by the whole china capitol controls going on right now. A lot of chinese are jumping in to BTC. The chinese central bank(PBOC) is now looking at the exchanges in china for irregularities. China has a limit on how much money you can move offshore. BTC has been a conduit for people to send more than the limit. Maybe some of that is spilling over to DCR. With a market cap of just a few million for DCR when it was at $.50 range even a few hundred thousand can have a big effect. As we have seen.
    Gold purchase is being mucked with as well in china. I think we will see even more money trying to get out of china funneled into crypto.
     
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  8. jy-p

    jy-p Sr. Member
    Organizer

    Jan 2, 2016
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    Per @drunkenmugsy's comment, it only takes a small amount of interest to drive the exchange rate of DCR up since the exchange volumes are small.

    While there is always the fear that any improvement in price could be due to market manipulators, we have to make the best of it and use it as an opportunity to spread awareness for Decred.
     
  9. drunkenmugsy

    drunkenmugsy Sr. Member
    Advocate (Reddit)

    Dec 28, 2015
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    I dont think this is manipulation. I think this is just people will find a way to get what they want. Regardless of local laws.
     
  10. Aniara

    Aniara Jr. Member

    Jan 9, 2016
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    You can't keep a good coin down. ;)
     
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  11. David

    David Sr. Member

    Jan 22, 2016
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    In another week or two, the developers will no longer be restricted from selling their Decred. I wouldn't expect them to dump their coins after a year long commitment to this project, but if they do, they seem to be in luck with the recent rise in price.
     
    bushjar likes this.
  12. Shadowlance

    Shadowlance Full Member

    Jan 9, 2016
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    Well, if they do, we'll be in luck with the huge drop it will create! There's a lot of people on slack waiting to snap up cheap credits. Premine was 840K and the devs got 28% according to that post so that's a maximum of 235 200 credits. That's about 600BTC at current prices and there's 129 BTC in buy orders on pol right now.

    So if they all dumped at once (absolute worst case; this won't happen), yes the price would crater, but I guarantee they'd be snapped up in no time (mostly because I would buy as many I could).

    Realistically though, I would expect some will sell part to get a return on a few years very hard work, but it won't have a long term impact.
     
  13. Nihil

    Nihil New Member

    Feb 5, 2017
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    A few notable figures mentioned the coin, including the creator of litecoin calling it the best-in-class for governance, take that with the news announcement and it was a perfect storm for people to pump the value.

    As far as I'm aware there isn't much use for DCR yet, I don't believe any markets are using it? So I would assume the price drop will continue for a while, especially with an influx of new miners that will probably sell their DCR rather than PoS mine since the price is tumbling.

    DCR is a good currency worth long term investment, but I suspect we won't see a steady or reliable increase in the value until it can be used to pay for actual goods or services. Based on the roadmap that should (hopefully) be some time this year.
     
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  14. bushjar

    bushjar New Member

    Feb 2, 2017
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    This is my guess...

    lately many other AltCoins have been going up, so it isn't strange that Decred has gone up too. Decred has been over performing, but that isn't so strange either. I think so because Decred has yet to see "its pump". Yes, many cryptos, even totally worthless ones, have a least one good pump before they whither and die. Decred is arguable trying to solve one of the pain points of Bitcoin: governance. Also Decred is PoS & PoW hybrid, so its also an attempt to solve another pain point of Bitcoin: mining centralization. Both governance and mining centralization are well known weaknesses in the space and even though we do not know for sure that it will be the end of Bitcoin, an attempt to solve it is well worth a major pump. I don't think we've seen the big pump but I think a lot of people are betting we will have one.

    If things goes really bad with Bitcoin, such as SegWit not being turned on and even worse a hardfork and panic on reddit... I'm sure some people will sell some bitcoins and buy Decred.

    Also the bull run in Bitcoin is close to an all time high, which means that a lot of people have been making a lot of money. Some of these people now look around and want to repeat this success. Decred having low trading volume and low price and so forth and so on, doesn't require much inflow to go up a lot fast.

    Also, people who bet on bitcoins going down and do not want to hold USD on shady exchanges, might also go for Decred. Maybe not with all of their money, but some for sake of diversification.

    On top of all this, we have heard from the Decred team that they will start going out on conferences and stuff and start talking more about it. So, some people I'm sure are betting on more talk about it (in an environment that should be perceptive of the issues Decred is attempting to solve) means more eyes on the price.

    Also, price had gone down a lot and all coins, even scam coins, mean revert once in a while. So nothing strange about that at all. It's note worthy that actually "only" went up to resistance. So... it wasn't that much of a pump. Only mean reversion but from a low level, so people who bought low made a lot.

    I could go on and on, but I'm not sure if there is value to this post, so I'll cut it short here.
     
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  15. David

    David Sr. Member

    Jan 22, 2016
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    Reynold likes this.

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