HTML5 COIN - A Shitcoin with Imaginary Rocket Boosters?! 1000% gains after an almost successful 51% attack! WTF
Just a few days ago HTML5 coin experienced a 51% attack, the attack apparently was almost successful. @joshuaatiemo reported about it at the time.
HTML5 Coin has been trading at the single satoshi forever. Nobody cared about it and the almost successful attack seems to prove that the coin is basically dead.
And now THIS:
Really?! The coin gets pumped like crazy rising 10 fold with several hundred bitcoins in trading volume?!
Is the market really just ignorant? Or am I missing something here?!?
Just recently @fyrstikken wrote a PSA about the vulnerability of these dying altcoins.
Of course... when I saw the news about the 51% attack I immediately liquidated my tiny position i held in HTML5. I only held it because it's hard to lose much at 1 satoshi valuation... but here I am writing this post in frustration with myself for not just holding onto this seemingly dead altcoin....
What am I missing here?!
Is there any reasonable explanation for this price move after a 51% attack almost succeeding?
edit: after posting this, i discovered this post by @flycryptoguy. The HTML5 coin team seems to have rolled out some updates that might explain the sudden spike in trading?!
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Ah, the classic crypto market - everything is possible :)
yeah... still can't stop looking for a "reasoning" behind it :P
Some crazy and illogical scenario, that sometimes in crypto world happens....
I agree with you that is really a crazy thing and unbelievable...
I actually updated the post:
apparently there have been updates rolled out and the team is showing activity... so there might be some logic behind the rise after all... maybe?!
Well in this case, yes is a better explanation, for a rise, less illogical :)