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RE: 14th April 2017 - Gridcoin 30% spike in 24hr
exciting times! i luckily bought a big chunk at around 500 sats :-) I had no idea these crypto markets moved around so much.
fyi, small typo: it went from 1021 to 1432 sats, and in USD from .012069 to .016871 (not 1021 to 1687 sats).
just have a look at Polos prices on the side, its not uncommon to have (small/new) coins go up 100% if someone pushes. Or fall 20% in one day.
But in this case its because nobody can sell, Polo is still down for incoming GRC.
Whilst true that poloniex is still in maintenance mode, no other exchange is still in maintenance mode. Only 12mil GRC are 'stuck' on poloniex for the time being.
We should be using the Bitshares DEX more for trading GRC, Openledger has been far more responsive than poloniex (who have yet to respond to a single support ticket..).
Decentralized exchanges > Centralized exchanges!
Hmmm...interesting. So, you are expecting a sharp drop in price when GRC is supported again on polo? But I thought Bittrex and C-Cex are fully functioning right now. Their prices are right there with polo. If someone wanted to transfer GRC from their wallet, to an exchange, to sell right now, they could just use one of those.
If you're sure, take a short position, or sell some GRC futures. (does polo let you do that?)
On normal days Polo does 90% of trades, so maybe there is the reason.
I have to find out what my PW to C-CEX was then. Too bad their email I have to click always takes half an hour. And today I am away for family.
Last time I sold for 750-800 and bought back for 630 a month later. Then it dropped to 400s 2 days later lol.
Current price is nearly 3 times the long time average so yes, unfortunately I think its going to drop again after trade normalises.
If not I will be even more happy then to make a good trade though ^^
We got confirmation from poloniex yesterday that they are looking into enabling deposits/withdrawals for Gridcoin, however it's still disabled at this moment.
In the mean time, the price of GRC has been pretty stable and rising again today.
Nice one spotting the typo, I had mixed up USD and BTC prices - it was pretty late last night that I created this thread, haha!