Looks like someone is purposely pushing the price down on bittrex to force miners to sell out for less. Clever tactic unless someone takes that sell order out.
More like the multipool driving the prices down with auto conversion to btc going on.
Might as well put in low price orders in if the multipool will sell cheap.
Should we get more mining power to make it less attracting for multipool ? I kinda suppose multipools still pick the profitable coins to mine... Higher difficulty = less miners. With your theory it should increase the price.
I'm interested about the price since I'm now holding 85919.71800398 SLG and going up to 100k.
Hey Sapton,
Thank you for believing in Sterlingcoin, don't worry about the mining side of things. It was brought to my attention by the team yesterday that the POW phase is going to end early January because for every 1 POW block being found , 2 POS blocks are being generated. The POS generation is a lot smaller in amount so there will be less coins as kenchanyu pointed out.
So we should all be thanking the multipools for these short term low prices.
Before I committed myself as a community manager to Sterlingcoin I asked the team if this will be there sole focus in the crypto world. They said we wouldn't of given up our identities if we planned on creating more coins. The work the dev team will be doing is on sterlingcoin and building services around the coin.
I asked what happens if price goes to 100 Sat? They told me they don't care, they will work just as hard to provide the best possible coin for merchants/consumers and investors.
This is what sold me.
