Any theories why? Looks like a decent sized investor just jumped in.
Owners of PPC changed from traders to strategic investors.
[ul][list]
[li]Smarter investors, ignoring the media and hype over just focusing on Bitcoin, are finally starting to diversify, look into, and realize the long-term benefits PPCoin has over Bitcoin[/li]
[li]Miners are switching to mining PPC because it is regularly more profitable than mining Bitcoin now[/li]
[li]More miner, equates to higher difficulty, which equates to lower block reward, which equates to lower inflation rate than previously expected, this equates to PPCoins being more rare, and for some investors, it becomes easier to buy them, vs mine them[/li]
[li]PPC v0.4 is coming out in a few weeks, which is an anticipated upgrade, that should make it easier to allow for PoS minting setup; the increase in the ease of use equates to a higher likelihood of greater adoption, and mainstream acceptance[/li]
[li]PPC is expected to become fully decentralized by the end of the year, speculation is picking up[/li]
[/list][/ul]
it’s not exploding, ppc was 0.40 a pop a while back, but it’s bouncing back and will continue to rise.
get in now before it’s too late.
Nice, I just hope it doesn’t go up too much just yet. I just placed another Bitcoin order with Coinbase and it will take until October 3rd before I can transfer my coins to BTC-E and get some more Peercoin. In about a week though, I’ll be able to buy coins instantly without the long wait, so looking forward to that!
Buy them from mcxnow!
Looks like you’re a little unlucky, price has jumped about 30% the last week and a bit. Market cap back over $5M! Also seeing big % increase in Primecoin. Seems as if a big investor is trying to spread out their buy over a couple days to avoid a massive price shock (which is only partially working).
Good news either way!
I like PPC and would like to see it rise in price, but not through manipulation on BTCe. Right now there are two very large walls at 0.0014 and 0.002, forcing everyone to trade between them. You can expect both walls to move upwards very slowly. Same thing happened over and over with LTC and many other altcoins.
How is obvious manipulation like this helpful for PPC? Wouldn’t you rather see the price go up in response to positive news, such as new services or marketplaces that support PPC?
[quote=“Quantum_Negatum, post:8, topic:379”]I like PPC and would like to see it rise in price, but not through manipulation on BTCe. Right now there are two very large walls at 0.0014 and 0.002, forcing everyone to trade between them. You can expect both walls to move upwards very slowly. Same thing happened over and over with LTC and many other altcoins.
How is obvious manipulation like this helpful for PPC? Wouldn’t you rather see the price go up in response to positive news, such as new services or marketplaces that support PPC?[/quote]
There is no such thing as “manipulation”, unless BTC-e is creating walls themselves and then removing them as the price inches closer. That scenario is implausible, because in the event of artificial price ceilings created there would be arbitrage opportunities on other exchanges (buy artificially low on BTC-e, and sell at true market value on another exchange).
PPC is rising because people are slowly realizing the benefits of the coin design. As well, the impending client upgrade is good news on the horizon, as you suggest.
[quote=“MeBeingAwesome, post:9, topic:379”][quote=“Quantum_Negatum, post:8, topic:379”]I like PPC and would like to see it rise in price, but not through manipulation on BTCe. Right now there are two very large walls at 0.0014 and 0.002, forcing everyone to trade between them. You can expect both walls to move upwards very slowly. Same thing happened over and over with LTC and many other altcoins.
How is obvious manipulation like this helpful for PPC? Wouldn’t you rather see the price go up in response to positive news, such as new services or marketplaces that support PPC?[/quote]
There is no such thing as “manipulation”, unless BTC-e is creating walls themselves and then removing them as the price inches closer. That scenario is implausible, because in the event of artificial price ceilings created there would be arbitrage opportunities on other exchanges (buy artificially low on BTC-e, and sell at true market value on another exchange).
PPC is rising because people are slowly realizing the benefits of the coin design. As well, the impending client upgrade is good news on the horizon, as you suggest.[/quote]
It is mere coincidence that people are realizing the benefits immediately after the ask/bid walls pop up? lol.
Doesn’t matter whether the owners of BTCe control the walls IMO. I guess we have a different definition of “manipulation.”
I would consider the following to be manipulative: A large investor has millions of USD worth in PPC. He wants to increase the USD value of his investment. So, he creates massive ask and bid walls forcing everyone to trade between. He slowly moves both walls upwards. Once a price point has been reach, he dumps all his ppc, causing the price to plummet. He then re-buys at a fraction of the top.
The risk involved in this kind of manipulation is minimal as long as the walls are large enough to stop another whale from eating through them instantly and without warning. Regardless of the risk involved (or lack thereof), the basic scheme is still manipulative (and illegal in nearly every country :P).
I wonder what Sunny King things of the moving walls.
Perhaps …
i don’t kno about you, but im not a saint.
trade manipulation is part of trading.
there’re more manipulations, illegal insights, and shady practices in the stock market. i mean way way more.
If somebody fears manipulation, then be a contrarian. If somebody also fears a contrarian position, he does not believe in PPC. If the gain as contrarian is not enough for you, you are greedy. Be a contrarian, then you win for sure, and compete against manipulation and benefit from it and raise wealth (money, not health) from it. Timing is possible. Shall I create a topic for it, with examples how to do it?
I opened a thread for contrarian trading now, go here:
http://www.ppcointalk.org/index.php?topic=528.msg4279#msg4279
You need to compete your own greed and panic, then you can relax and enjoy.
[quote=“Alertness, post:3, topic:379”][ul][list]
[li]Smarter investors, ignoring the media and hype over just focusing on Bitcoin, are finally starting to diversify, look into, and realize the long-term benefits PPCoin has over Bitcoin[/li]
[li]Miners are switching to mining PPC because it is regularly more profitable than mining Bitcoin now[/li]
[li]More miner, equates to higher difficulty, which equates to lower block reward, which equates to lower inflation rate than previously expected, this equates to PPCoins being more rare, and for some investors, it becomes easier to buy them, vs mine them[/li]
[li]PPC v0.4 is coming out in a few weeks, which is an anticipated upgrade, that should make it easier to allow for PoS minting setup; the increase in the ease of use equates to a higher likelihood of greater adoption, and mainstream acceptance[/li]
[li]PPC is expected to become fully decentralized by the end of the year, speculation is picking up[/li]
[/list][/ul][/quote]
+1, that’s the merits that BTC doesn’t have. Another thing is that the NO CAP design is really genius. Gold may be scarce, but its supply never stops. Gold price fluctuates and gold-mining company profits or loses for that. That’s how PPC should work. I really appreciate Sunny’s bold yet visionary design on this.
PPC looks like a victim of pump and dump though. What can you do with the coin ? At the current price, LTC had a good number of acceptances.
It’s not so much what you can do with it, but that it is more secure than anything else. People buying it as a safe-haven. Acceptances will come, in due time.