My guess is there are a lot of bots and day traders flipping back and forth. Keep in mind the latest price rises have been happening when Bitcoin and Litecoin is going down. So I am assuming a lot of speculators have come from BTC and LTC to BC and that is why we are seeing these kinds of price jumps. My question is what happens if BTC and LTC resume their upward trajectories? What happens to BC then? Are we gonna have a price crash? I don't want to spoil the festive mood around here, but I think
everyone needs to take this into consideration. The fact that we have no miners dumping coins every day does not mean you can't have a sell-off.
If the multipool's were at a stage where they can buy a few hundred BTC a day worth, I would feel much better about it. But at the current rate I am not so confident. If BTC stages a
comeback things can get hairy very quickly.
Guys, help me out here.
The multipool is currently @ 6000mhs which is ~ 1000 ltc per day ~ 25 btc per day.
The daily volume of BC on mintpal alone is 2800 btc today.
So that means most of the buying from the multipool is a drop in the bucket @ this stage.
Is my math wrong here or what?
Never thought to do the math but yeah, you are right...
Consider this though: The multipool only buys once a day, and it does not sit there and day trade, which means any volume from the multipool is entirely a new influsion of capital.
Someone with one bitcoin worth of value can buy and sell back and forth all day and make ten bitcoins worth of volume. So basically, the multipool is an influx of new capital, whereas the rest of the volume may not necessary be an influx of new capital it could be someone just trading value back and forth, aka day trading. As far as I am concerned, there is no way to tell what portion of the volume is due to new influx of capital, or just daytraders trading back and forth.
