As most of people I was in shock the up rise of the VTC price in the past month.
First rational thing that came to my mind is a typical P&D , makes sense right?
– No updates on bitcointalk.org forum + postage of inactive exchanges
– Inactive main developer – Bushido
– Low volume across exchanges
– Low entry price– No solid plan for the future development for the coin.
The main supporters of the coin were here on rededit and on bitcointalk forum.
We even had community donations towards the dev team, but no euphoria and will to create.
11th of May 2015 – the beginning of the end for VTC. Aka Distraction
So on this day a new renaissance began for all VTC lovers, supporters and bagholders as the volume started to rise, so did the price break a cool 10k satoshi. – It was a beautiful day.
Next few days were just all full of joy and speculation – how hight will it go? , is it too late to buy in? , is it just a pump? Even the devs were supprised.
Or were they?
Cointelegraph.de, a German bitcoin news site wrote an article on the “sudden” price rise of VTC:
http://cointelegraph.de/news/114408/vertcoin-comeback-oder-pump-and-dump
They also point out that the Inactive dev and founder of VTC bushido logged on the forum after a long absence under his nick: VERTCOIN, hours before the first PUMP! Coincidence???
After a week of uptrend extasy we came to a point were the price was bouncing between 35k and 50k with lower volumes. In my honest opinion that was the moment were the big player was buying in by setting buy/sell walls and buying up to the range.
Not everybody knows that cryptsy.com wasn’t the driving force behind the uprend but………..
CHINESE exchange jubi.com, with 5x even 10x bigger volume then cryptsy.com, but can we believe in the volume? We all know Chinese are famous for putting there volume on steroids. Just look at okcoin or axnbtc.
It’s always calm before the storm……… aka “THE PUMP”
I truly believe that a group of pumpers had there eye on VTC for a while now and that we all withness 2 groups cross paths:
1. the investors – At this moment UNKNOWN
2. The pump and dumpers
So on the 5th of June the pump began and the price sky rocked to a new high of 100k satoshi.
Going towards the 8th of June with new highs, literally everyday from now on we saw a new high till 249k satoshi per VTC.
The community all cheerful , VTC number 1 on crypsy volume for days , In the top 15 cryptocharts , and breaking headlines that the price went up 4150% in weeks.
On the 11th on June a known P&D group Ryan pumper posted on bitcointalk.org that they were behind the pump:
https://bitcointalk.org/index.php?topic=1063638.120
BOOM THAT JUST HAPPENED, WELCOME to the VALLEY OF UNHAPPINES. Aka “the dump”
On the 11th of June the dump started and as fast as it took VTC to 249k, it took only 3 days to put the price back to 80k range. From this point on the mass suicides began and the dark knight called greed rises to remind people that pigs that get greedy get slathered.
In these dark days I watched carefully how the top 10 addresses change and how the wealth distribution starts to shift towards the top 5.
So why didn’t the early buyers “INVESTORS” cash in on the opportunity of a pump and dump some VTC bought in the 5k-60k range?
“If I ruled the world” 1996 nas ft.Lauryn hill aka VTC takeover
If you have plans and great expectation towards a coin you will not sell it for cents when it’s worth dollars.
Does this make sense?
Let’s break it down:
1. Now the price is stable in the range of 30k-36k Just look at cryptsy.com you need 31.5btc to break thru the buy walls and go sub 30k in price. This has to be controlled, if we take the case that this was the buying range of the investor.
2. The dev team has a whole new budget to work with, and they finally have the motivation. For the investors it is important the devs have the will to work on new projects or continiue there work on the android wallet, we had one for the n-scrypt algo but we don’t have for the lyra2re. Also we should mention “elasticity” which will be first in the cryptoworld and will be able to control the supply and demand of produced new VTC.
3. Top 5 addresses own almost 50% of the supply of VTC. (INVESTORS)
4. MINING – So VTC is all about CPU & GPU mining for the averge Joe, Lyra2re is much more ASIC ressistant and power efficient and now after 7 months of mining the creator on the lyra2re algo released a newer version that increases the mining power over 70%. Did he finish it yesterday or was he mining with “the edge” in a small group ot trustees from the start? 🙂 . On the day of writting this article the network hashrate was slightly above 14gh/s, which almost 10gh/s a friendly BOTNET mining on the ipominer.com pool. Really community 2/3 of the whole network is a bot, so that’s means that the price is 10x form the start of the pump and still the same amount of people mining. AND this is a coin that’s more power efficient then any other CPU&GPU coin on the market to mine for the people.
5. VTC USAGE
Scenario 1:
Vtc is used by a major bank (rather not) as a payment gateway, that’s great news, VTc will get the main stream attention that always lacked. And It becomes a superstar over night .VTC becomes a major player in the crypto world.
The price rises and surpasses LTC (not a big deal) and all the lovers, supporters and bagholders are all rewarded.
————————————–HAPPY ENDING———————————–
Scenario 2:
They use it for illegal transaction on darknet to pay for porn of young Chinese school girls. This will give VTC a label and a bad one in this case, It could make the price rise but the future of the coin is a mystery.
————————————–DOOM ENDING————————————
Scenario 3: I woluld love to hear fom you community.
Conclusion aka “yesterday is history, tomorrow is a mystery”
Crazy time for VERTCOIN:
1. Some investor came in brought his bag of around 3,300 BTC (~800,000usd) and bought couple million VTC. For what? Perhaps future usage in an ongoing project?
2. The Dev team work force is back in top gear.
3. Someone is controling the price. 4. Friendlly BOTNET is mining 2/3 of VTC production 5.P&D
My advise is to buy,mine and HOLD ON to your VERTS community because INHO we are one step before price explotion, and if someone tell you that 0.09$ is a too high to get in don’t listen because he will be the one calling you and asking if 2$ is a good price to still buy VTC. I belive we can be and we will be nr. 2 coin , LTC has nothing to offer and lets not take serious DOGE or DASH.
GREAT ALGO,GREAT COMMUNITY GREAT FUTURE INVESTMENT..
Donations: VTC ADRESS :VgrPMNwp8ycgZ3ZYDGnbgoi1pRSZ24YLz4
illuminatiinthecryptoworld 