[quote author=WhiskeyOcean link=topic=78.msg612#msg612 date=1392616600]
What I said has already come to reality: the price has deflated quite a lot, but the problem is hasn’t gone back down to $1 where it’s supposed to be at the moment. [/quote]
Fallacy of the “fair price,” dating back to Thomas Aquinas at least (and if you’re implying that based on the proof of burn, that’s the fallacy of the “labor theory of value” dating back to antiquity).
The price isn’t supposed to be anywhere. It all depends on how much promise people see in it and how many people see that promise.
[quote author=Zangelbert Bingledack link=topic=78.msg627#msg627 date=1392625386]
[quote author=WhiskeyOcean link=topic=78.msg612#msg612 date=1392616600]
What I said has already come to reality: the price has deflated quite a lot, but the problem is hasn’t gone back down to $1 where it’s supposed to be at the moment. [/quote]
Fallacy of the “fair price,” dating back to Thomas Aquinas at least (and if you’re implying that based on the proof of burn, that’s the fallacy of the “labor theory of value” dating back to antiquity).
The price isn’t supposed to be anywhere. It all depends on how much promise people see in it and how many people see that promise.
[/quote]
Have you not been reading any of my posts?
It is completley OK and reasonable to say “supposed” when the price has been manipulated upwards.
It wasn’t because people saw promise or that a lot of people got interested all of a sudden, it was because a few early investors decided to take advantage of the coinmarketcap listing and drive the price up artificially. So yes the price is supposed to reflect the interest and promise people see, but right now that is very low.
And thus far all of my predictions have come to fruition because this happens EVERTIME a new coin is launched this way.
Like I have stated: I see potential in Counterparty, but due to the inflated price a lot of powerful investors like myself simply will not invest. I do expect there to be more Proof of Burn popping up soon that will capitalize on XCP bringing attention to the method.
And this is what I warned about, once the price is driven up too high artificially, there will be a lot of attention towards the crypto, but people will not invest because everyone can see it’s artifically raised and so they instead make a new Proof of Burn where all the people who show interest goes instead because there will be much more ROI.
It’s just the nature of the game. XCP can still make it, but at the current price I think things will stagnate
I agree it may have gotten listed too early, but there’s no way to know for sure. I certainly bought based on promise, and I think Counterparty is uniquely positioned. A big push to spread the word may be what’s needed to keep the momentum. It’s a tall order with Counterparty already at No. 9 and the non-mineable asterisk lumping it in with the likes of Ripple and NXT, but Counterparty is not just a theoretical proposition like most of the rest.
[quote author=Zangelbert Bingledack link=topic=78.msg629#msg629 date=1392629896]
I agree it may have gotten listed too early, but there’s no way to know for sure. I certainly bought based on promise, and I think Counterparty is uniquely positioned. A big push to spread the word may be what’s needed to keep the momentum. It’s a tall order with Counterparty already at No. 9 and the non-mineable asterisk lumping it in with the likes of Ripple and NXT, but Counterparty is not just a theoretical proposition like most of the rest.
[/quote]
Being “lumped in” with NXT is a compliment if anything, NXT is not “theoretical”, NXT is HUGE with a HUGE future.
It is the only crypto since Bitcoin to actually make a paradigm change to the crypto-world.
I don’t see XCP as a competitor to NXT at all, I think both can co-exist, but NXT had first movers advantage.
And you keep goin on about XCP being “no 9” already. IT ISN’T. Currently less than 250 000 dollars have been spent on XCP. The marketcap is at least 8 times as high as what it should be if the market manipulation ceased.
I REALLY hope you didn’t buy in post-IPO
[quote author=Zangelbert Bingledack link=topic=78.msg519#msg519 date=1392456525]
While timing the push for investment is sensitive, this cannot be allowed to obscure the fact that market cap is what drives so much of the infrastructure and interest in a cryptocoin, and the landscape in this industry changes by the week. The luxury of biding time until blowing up on the market isn’t going to last long, and Bitcoin 2.0 investors are forgiving of initial implementation hiccups. At least Counterparty is already up and running. That is massive and cannot be overemphasized.
[/quote]
+1
Agreed.