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March 15, 2015, 11:33:01 AM |
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TL:DR~
Don't buy into a dump.
Provide buy support for when natural attrition hammers the coin, work against BTC movements and community issues but don't buy into the dumps.
That is what the dumpers want you to do and they have nothing to lose and everything to gain.
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I'm not sure if this has been discussed before but Mark and I had a decent chat about 'buy support' vs 'paying for a dump'
I'll post a brief here now.
There are two things I learnt being part of the whole 'GAWMiner' thing.
1) It is really easy to find yourself in a position where you simply have no out, and so you go along... and along and along, and finally all the signs are bright neon and lit 'DANGER BEWARE' but you got trapped three suburbs and 4 one way streets back thinking, oh shit... I hope this doesn't go bad. I am glad I was cautious, and disappointing that nothing good came from it. I have long since dropped any pretense of thinking GAW will rise from the ashes like some kind of Phoenix. That belief sits right beside winning the lottery and I don't buy lotto tickets.
2) GAW bought into a massive dump, it was a critical mistake.
They promised 'significant' buy support. We can speculate the actual buy support but personally I might suggest a few hundred thousands, tens of thousands most certainly. Add to that the almost rabid like support base and their belief the GAW Project would hit 100 USD within weeks and we should have seen at least a quarter of a million USD (GAW supporting Speculators considered upwards of a million though clearly GAW did not put up that promised amount) prepped as buy support to what was (arguably) a tangible business deployment of a new and cutting edge cryptocurrency (tech realities aside).
The money literally dissipated. So hard and fast was the dumping that cryptsy's system broke. It was unable to fill orders that had been easily filled and the book filled orders out of synch (questions of legitimacy were risen but it was a pretty hectic moment. Watching that breif less than a minute period of trading was... confusing at best). It took seconds for the buy support to be crushed and the only people who benefited where the dumpers.
So why be cautious about buy support and dumps?
It's very hard to prepare buy support. Firstly its USD, real "bread and milk" money (no offence regarding cryptos we're all in this together) and that money is pulled directly from the rent, the food, the real life budget. Secondly its politicaly difficult finding a community willing to gather resources to strengthen the 'baseline' of a currency. UNO is unique (in my experience, this kind of mature and not knee jerk reaction regarding financial support) in this and GAW was... I dunno, hypnotically powerful marketing or individuals so far down the rabbit hole they were simply gambling at that stage. We build at the current value, the high value at the coins strongest point (that is when a dump hits) and it makes it more expensive, higher risk.
A dumper on the other hand, bought when it was low, got the coin cheap easy and has no risk. If a dump fails they walk with money, real money, hookers and blow money. If a dumper fails they walk like nothing ever happened and find a new target, you don't hear about failed dumps because nobody suffers, nobody crumbles it hurts nobody. Dumping offers no risk (there is always risk but its a quantity quality thing) and so much reward potential. Gather a horde of small timers for a massive dump, oh so easy. The mentality is there, the sociopathic disinterest in long term stability of the crypto scene at large. So much easier than getting hard working honest community members to risk their own hides staunchly working towards a better stronger community and coin.
Dumpers don't dump because it is fun (though I am sure it is), it's not a bout 'the lolz', it's a market manipulation, it is about money. They want our money, not our coin. They already have our coin and if they've got our coin they've got us by the balls. If we let them they will milk us for everything we have before walking away leaving us unfulfilled and lighter in the pocket.
The dumpers have so much to gain and the supporters have so much to lose.
TL:DR~
Don't buy into a dump.
Provide buy support for when natural attrition hammers the coin, work against BTC movements and community issues but don't buy into the dumps.
That is what the dumpers want you to do and they have nothing to lose and everything to gain.
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