I let the record speak for itself when Mr Murphy likes to call bullshit on other people...
the guy clearly has a very limited understanding of crypto currency economics.
http://www.maxtalk.org/index.php?topic=51these are Mr Murpheys own words..
April 15, 2014, 04:48:54 am
From a look at the monthly MAX:BTC chart above, a triple bottom chart pattern seems to be emerging on MaxCoin at 0.0002 btc.
Considering the price is currently trading under the cost of production, this could well be an indicator of a reversal of the existing trend.
oops wrong... the floor fell right out of that argument.
April 15, 2014, 04:48:54 am
The MaxCoin project is currently in the very early stages, yet the developers have acted swiftly to patch TWO serious exploits very recently discovered (namely, the Kimoto Gravity Well Time Warp exploit & the heartbleed OpenSSL exploit) showing just how serious they are about ensuring a secure and fair network.
yes and so has every other serious altcoin out there... what he neglects to mention is that the Dev and Marketing teams have not adequately addressed the issue of 51% attack which is the biggest threat to the security and trust of the network...
April 15, 2014, 04:48:54 am
Looking at the SHA3 algorithm (keccak) - it's faster, more efficient and more secure than it's older SHA-256 brother. There are no ASIC platforms as of yet, meaning it alone will be the beneficiary of a large amount of mining power from GPU's (especially if/when scrypt ASICS like the ones from Gridseed start to dominate scrypt mining).
Again more bullshit... yes keccak is theoretically more secure than sha 256.. but that point is moot because its not the algorithm but the size and distribution of the network which provides real security.
with 75% of the hashing power in one pool Maxcoin is currently one of the least secure coins and the price reflects this.
Additionally it is a complete lie to say that Maxcoin alone will be the beneficiary of a large amount of mining power from GPU miners who flee from Scrypt Coins. there are atleast 10 other coins out there (and more being released each week) using anything from Scrypt-N to X11 (11 different hashing algos) which will and have benefited from the Exodus of GPU miners away from Scrypt.
April 15, 2014, 04:48:54 am
Max transactions are also a lot faster, with 30 second blocks and faster confirmations.
yes faster than Bitcoin but what he neglects to mention is that ALMOST every other crypto coin in existence is much faster than bitcoin... most of them have confirmation times between 30 seconds and 2.5 minutes. and this is only confirmation times not transaction times... transactions across all crypto coins are near instantaneous.
April 15, 2014, 04:48:54 am
It is also one of the most actively day-traded altcoins, implying a high speculative interest.
again this is more BS.. it is only one of the most actively traded coins on MCXNow which is one of the smaller exchanges. right now in terms of volume MAxcoin is about the 21st most actively traded coins. and it wasn't much different back in April either. Now it should be noted that transaction volume and exchange trading volume are different figures... but since we do not have access to a complete set of exchange volume history it is the closest number we can use in any argument.
April 15, 2014, 04:48:54 am
Speculators will often sell under the cost of production if they think they can panic others out of their positions at a lower price. The smart money is using these panic selloffs as an opportunity to get some even cheaper coins.
Again this is only half the story.. market manipulators don't only try to create panic sells so they can buy cheaply.. they also pump (like Max kaiser did) so they can dump at a high price and then buy back again when the pump is over...
April 15, 2014, 04:48:54 am
I for one am more than prepared to part with my btc fiat for MaxCoin at these prices so there should be very little *panic volume* left in this market right now.
and we all know how that turned out since this prediction way back when the price was at 0.0002 anyone who followed this advice would have lost almost half of their investment.... apparently there is still lots of panic selling and there will continue to be until the representatives of Maxcoin become more open about their development plans and deal with the issues plaguing this coin.... one of the biggest being one pool controlling 75%+ of the hashing power. which leaves the entire network wide open to double spend attacks...
April 15, 2014, 04:48:54 am
MAX has a lot more to offer, which I will get into another time, so to get to the point ... with such positive underlying fundamentals of this coin and an emerging triple bottom pattern in the charts, I think we might just have about seen the end of the bearish trend.
again a completely wrong prediction which only highlights this mans inexperience with cryptocurrency markets. The fundamentals of a coin can't be POSITIVE if one of the biggest fundamentals i.e. its very security is compromised by one pool having too much power.
I could go on and on but I think I have made my point...
