rofl, 18 microbtc stabiilizing. Almost 50% 24 hour USD change on CMC.
dump: 0.4850 cents unit price, 4m market price, and 27k of trade vol!
0.63c 30k vol
NuShares price development (x axis BTC) over the last 90 days taken from
Comparing BitShares price development (x axis BTC) over the last 90 days taken from https://www.coingecko.com/en/market_cap/bitshares/btc/90_days:
what is this ? I know cryptsy is allegedly going bankrupt but…
EDIT: its was a single trade, just a few millis, nothing to see here.
I think there’re people that desperately want nsr price to be low. I may be narrating something that isn’t happening, but who would dump like this when we’re still full swing on buybacks? I’d almost suspect an inside job trying to lower the price for our buybacks if I didn’t think the shareholders were too lazy and risk-adverse to try such a manipulation.
The price on cryptsy was roughly double the recent NSR price at other exchanges, but it was 1.2 cents and not 12.
And it definitely plays no role, because it was close to no volume at that price.
Oh yah, the cryptsy thing was negligible, what happens on cryptsy stays on cryptsy. I was more talking about the fall from 17 to 12.5 microbtc.
Ah, right. But the BTC/USD price moved a bit. The NSR/USD price didn’t fall that much.
Any evidence? I am curious.
Of course no proof, that’s near impossible. So let’s see what I got for hyper circumstantial evidence. Now, MoD is totally right about the btc price increase, however the nsr price has been relatively decoupled to USD and has been mostly related to btc in the past. Anyway, go with me on the logic leap that nsr are priced in btc instead of USD.
So you have buybacks, and the price leaps from 10 to 20 microbtc in like a week or two. Now, there was a lot of non-Nu volume at 10 before the leap and it’s a reasonable assertion that those are the buys that are now selling. However, if you look at the volumes, we bought those people out by now, or at least mostly. They are trying to start the dump, because we bought them out.
Anyway, then there’s the wall at 20 and we have to do it all over again. We bleed nsr from them while they bleed btc from us. It’s funny, because we both think we’re winning as we provide liquidity for each other.
Or, it could be a few investors exiting Nu, that’s possible too.
Am I reading this right? Currently $0.008393?
Yah but it’s not. It’s just cryptsy being cryptsy, where coins can spike to 2x their value without opening an arbitrage channel.
The price paid for leaving a sinking ship
Many traders don’t know anything about Nu. They see NSR as yet another altcoin, and all information is in the price action. When the buy wall is gone, the trend does look like it’s all over.
I’m not even mad, that’s impressive. Somebody wants out.
Our average buyback price has been 12.57 microBTC, including this week. This amounts to ~$150,000. So for everyone keeping track, if you thought buybacks were done, we aren’t even halfway there yet.