Unfortunately, this sell-off was predictable...there are many miners looking for a profit/paying the electric bill, and only ~ 36btc worth of IPO buyers (only 2-3 large buyers). With the general state of bitcoin disfavor, coupled with the >100 altcoins (and it seems a new one announced every several days) it's easy to see this happen. It is rare to actually have something new...most are incremental upgrades. CAI is such (an upgrade). The discrimination between this coin and others needed to be before the IPO, rather than "we have a great bunch of devs, and we will WOW you with what we have planned!" Listing on an exchange such as MintPal before the rollout of the "wow factor" will ensure a selloff by the miners, and much headwind to compensate.
I hope this is not another Ultracoin, but I fear so.
I personally learned from the mistakes of other coins, the WOW factor is only good as the next exchange. Miners are not expected to hold forever, all of them have bills to pay. That's the case with every coin. We never based our plans on miners holding, although we would not mind if they do. However, I expected we will be doing most of the hard work after Mintpal, that's why I am very careful about not letting every detail out too soon.
Now we need to make sure every move we make is positive to CAI on the market. Things will get better. The sell wall that someone put to undermine us is not that big, but it shows how the market can be played easily. We had two choices buy into the wall, and by that we eat into the bait and get into a cycle of never ending blackmail. Or let the whale drop the price now, and suffer a price drop on what he owns in CAI. Since our investment in CAI is long term, I do not see a benefit in chasing market manipulators as that will only bring short term results. We have some great news coming, that should improve things, and CAI pump will be based on that only.
