Who is buying?

Moonman

Happy new year!
I am one of the people that have feathercoin in mind for usage in a variety of startups (currently i am rougly designing a service that uses ftc exlusively, but it has a looooong way ahead of it untill its a valid idea, people have to see it, agree, improve, finance etc)
The community aspect of it is what makes me lean towards ftc.
Of course, i love some good daytrading but also holding for the long run, when extensive adoption will happen (and everyday use will be a reality).
Price, volume, marketcap and other financial factor speculation is just one of my kinky hobbies, hence the spec post. :)

looarn

The main purpose is to enjoy what we are doing, you got a point there @Moonman :)

My best wishes to all feathercoiners !

Moonman

So fellow traders and believers, what’s your view/guesses/estimations/feelings?

ChekaZ

@Moonman said in Who is buying?:

So fellow traders and believers, what’s your view/guesses/estimations/feelings?

About Feathercoin? - Iam not worried actually, its pure manipulation again, top bittrex wallet getting bigger and bigger…
But yeah, price could rise to 5k~ levels that would be better.

Regards,
ChekaZ

AmDD

Im still buying. I only wish Id have held out longer and had more capital to buy more now rather than the whole way to this level… Oh well…

I will say that probably about a year ago I was nearing my “goal” for the number of FTC I wanted to reach and hold long term… Im now working on double that number. Bring on the cheap coins! :)

Mansuetus

I see clear correlation between feathercoin hashrate and feathercoin price in USD (not BTC). Based on that, I am fully convinced that feathercoin price is mainly driven by miners, who sell all harvested coins instantly. If there is more miners keeping their stash for the future, price will grow by casual speculators.

Moonman

@ChekaZ that 2+mil guy, been watching that wallet a long time now, keeps accumulating :p

AcidD

@Mansuetus said in Who is buying?:

I see clear correlation between feathercoin hashrate and feathercoin price in USD (not BTC). Based on that, I am fully convinced that feathercoin price is mainly driven by miners, who sell all harvested coins instantly. If there is more miners keeping their stash for the future, price will grow by casual speculators.

I think there’s a few ways to see this…

Feathercoin pumped last year and when the price went high, alot of GPU miners jumped on board which of course made the hashrate and difficulty rise.

if you go to https://whattomine.com/ Feathercoin is in the top 10 of what to mine and exchange for BTC. (at the time of writing this)

if you go here https://bitinfocharts.com/comparison/hashrate-ftc.html look at the year 2016, and you can see the hash rate correlates with the two pumps/rises FTC got during 2016

My Two Pence: To me this looks like a mega whale purposely keeping the price down.

AmDD

@aciddude said in Who is buying?:

if you go to https://whattomine.com/ Feathercoin is in the top 10 of what to mine and exchange for BTC. (at the time of writing this)

I dont monitor daily but often FTC is fairly high on the list and typically in the positive profitability.

MrWyrm

I think I will buy some :)

Moonman

@MrWyrm said in Who is buying?:

I think I will buy some :)

Define some :p

Also, marketcap lowered a bit, but volume increased :wink: :stuck_out_tongue_winking_eye:

ChekaZ

definitely a good time to grab a junk ;)

Danlau

For anyone that is interested it would appear that FTC is once again available on Bittylicious after an absence of a number of months. You will pay a slight premium however it is a very convenient method to use. I am sure most people know about it but here is the link if you don’t:

https://bittylicious.com/

Moonman

I see 60k volume on the bottom exchange, does anyone know anything about this?

alt text

Wellenreiter

Is that a valid entry? 19800 as exchange name looks strange to me, and $60000 US?!? is very much

ChekaZ

https://www.19800.com/market/cny_ftc/

AcidD

Guys…it says it right there…“Volume excluded - No Trading Fees / Other”

They did the same for the other Chinese exchanges and Bitcoin until China recently approached the biggest exchanges and told them they cant have trading without fees anymore.

Theoretically that 60K usd can be 1 person selling 160ish FTC back and fourth to themselves 60K times… No fees = 60K volume

Wellenreiter

@aciddude ok, that’s a possible explanation.

AmDD

@aciddude thats my thought as well. It creates a very false volume measure.

AcidD

For anyone who really cares about fake-ish volume…
http://coinmarketcap.com/currencies/bitcoin/#markets

Scroll down to the bottom or just do a search for “19800”

you’ll see that exchange and a lot of unknowns that have popped up with zero fee trading, this is mostly because the Big three exchanges in china halted zero fee trading:

http://www.coindesk.com/chinas-big-three-bitcoin-exchanges-end-no-fee-policy/
http://www.coindesk.com/chinas-central-bank-continue-bitcoin-exchange-inspections/

This one explains it
http://www.coindesk.com/bitcoin-volume-move-traders-embrace-no-fee-exchanges/

http://www.coindesk.com/change-china-means-bitcoin/

Enjoy!!!