Author Topic: I don't understand cryptsy's actions  (Read 1894 times)

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Offline bppsp1

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Re: I don't understand cryptsy's actions
« Reply #15 on: January 27, 2014, 05:11:31 pm »
I wish we had more pro-active traders on BTER, I am doing my thing constantly whenever possible adjusting my sell orders upwards when lower buy orders clear quickly.

Far too many people just list their MMC and leave it no matter what happens on the buy side, this is making it hard to have a upwards price movement on BTER.

Moral of the story, we need greedy traders like coinedup/cryptsy who actively trade and adjust orders based on demand.

Offline MaxPWR

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Re: I don't understand cryptsy's actions
« Reply #16 on: January 27, 2014, 05:57:03 pm »
Coin development has management aspects that are completely new to most people and hard to understand / separate the intricacies...it's almost like we've created a new profession.

For the most part, overall price doesn't affect merchants and traders too much - they base in fiat or other virtual currencies, so they can adjust sale / cost prices in MMC accordingly. 

Miners are more affected by overall price, because it is "new income" - zero cost basis to them.

The "bad MMC" merchant does pump-and-dump / loves trade volatility / large site sales to collect fees / etc.  The "bad MMC" miner just mines and sells regardless of price.

The "good MMC" merchant markets to MMC miners with their products and/or price discounts - they "sink up" some of the "bad miner" MMC with services before it hits the exchange.  The "good MMC" miners hold their MMC, hire developers with MMC, or promote MMC merchants within the MMC network instead of selling on exchange.

We need more people to come out as "good MMC" supporters and sponsor development of some sites / volunteer / etc.
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Offline smokim11

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Re: I don't understand cryptsy's actions
« Reply #17 on: January 28, 2014, 08:18:22 am »
It would be nice to see MMC on coined up, if its on cryptsy it will drop to a few cents if not less.

Sorry but there are some idiot miners that dump thousands as they mine bringing down the price.

Coined up has less pumps and dumps, downside that the site loads slow but there's never problems with depositing/withdrawing  which the most important thing.
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Offline bppsp1

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Re: I don't understand cryptsy's actions
« Reply #18 on: January 28, 2014, 08:53:01 am »
It would be nice to see MMC on coined up, if its on cryptsy it will drop to a few cents if not less.

Sorry but there are some idiot miners that dump thousands as they mine bringing down the price.

Coined up has less pumps and dumps, downside that the site loads slow but there's never problems with depositing/withdrawing  which the most important thing.

Thats one of the nice things about MMC, idiot miners wont jump on and mine it considering the scrypt altcoins is more profitable to mine with gpu's thus meaning if its trading on cryptsy most people would be buying/sell coins on the market rather than mining and dumping since that is simply not profitable right now with MMC and gpu mining.