Why is Maxcoin dropping so quickly?

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Meconomy153
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Why is Maxcoin dropping so quickly?

Post by Meconomy153 » Sun May 03, 2015 1:33 pm

It's not just Maxcoin, all the alts are suffering in the wake of the MtGox fiasco. This isn't anything new, whenever BTC takes a hit the other altcoins do twice as badly.

In the past it worked the other way around too. When BTC shot up to $1200, Litecoin went up twice as fast, along with many of the others, even Chinacoin came back from the dead when that happened.

When the MtGox story is old news, the alts could stop falling and maybe they start to recover.

At least Maxcoin has the advantage of using a different system (Keccak), it's not just yet another Bitcoin or Litecoin clone.

Dogecoin
After it's initial peak, Dogecoin just kept falling and everyone said it was a dead scam coin. Look what happened to that afterwards and the only different thing that coin had in its favour was a picture of a cute dog and a few silly phrases. Actually that dog looks like it's planning to bite whoever's hassling it. Fortunately, Maxcoin has no logo with dogs.

Meconomy153
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Posts: 95
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Bad first month for Maxcoin

Post by Meconomy153 » Sun May 03, 2015 1:36 pm

The first month of Maxcoin was one of great inflation and low prices. But this year will be one of a huge growth in market cap due to 96 coins entering into circulation every 60 seconds.

Developers and early adopters need to be very patient and believe in the innovation of Maxcoin (SHA3) and the value of the 60 seconds confirmation time. They know that Maxcoin is not only more safer than Bitcoin, it is also much faster.

It will ultimately depend on the preparedness of the community: are they willing to invest their time to promote Maxcoin and so help to grow the community and the value of the coin?

Meconomy153
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Maxcoin is a cross between a stock and a form of payment

Post by Meconomy153 » Sun May 03, 2015 3:48 pm

Maxcoin future was called into question due to the collapse of the value of the coin. The good news for Maxcoin is that prices of the virtual currency have stabilized. That's because the supply of Maxcoin is reduced to a total of just over 100 million maxcoins. Maxcoin is actually a cross between a stock and a form of payment.

It’s a form of payment because you can use maxcoins to pay for things. You can also send money to people in other countries, without worrying about exchange rates or currency conversion fees.

And this last is pretty important. No currency conversion or exchange rates.

It’s a stock because there’s a fixed number of “maxcoins” in the universe. The value of each maxcoin fluctuates based on the law of supply and demand. The more people that want to use them, the higher their value.

If you buy four maxcoins with one US dollar right now, you may be able to sell them for a 1000 dollar each in the future. Or for only one cent. We don't know what will happen and that's why it is a stock in the Maxcoin community!

Meconomy153
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Maxcoin still doing brilliantly compared to growing pains Bitcoin experienced

Post by Meconomy153 » Sun May 03, 2015 4:05 pm

Maxcoin is a brand new cryptocurrency in the broad scheme of things and it's community is still in it's early stages and quite weak.

It took years for Bitcoin to develop the community that it has behind it and almost as long for it's price to rise from 0 to where Maxcoin currently is.

So to be honest, Maxcoin is still doing brilliantly compared to the growing pains Bitcoin experienced, and it is one of the most traded altcoins right now meaning the potential for future gains is huge.

Maxcoin has strong fundamentals, which is the most important point:
- Maxcoin transactions are much faster;
- hashing function is technically superior;
- the initial distribution of mining profits was fairer than even bitcoin was;
- the SHA-3 of Maxcoin is a more efficient algorithm for mining, meaning you can get more money from your mining rigs.

Meconomy153
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Posts: 95
Joined: Sun Oct 12, 2014 2:00 pm

Support your coin, support Maxcoin!

Post by Meconomy153 » Sun May 03, 2015 4:07 pm

You are the only responsible for the creation of your own wealth, and just because the first months of Maxcoin has been very difficult in terms of the price, mining conversion to BTC and hashrate distribution, this doesn't mean that we should not support our coin. Let's support Maxcoin and tell the whole world about this coin.

This project will not go anywhere if the people that believed in it don't stick around and protect it. This project will not succeed if you sit from your couch and scream “Fuck You Maxcoin” whilst contradicting the reasons that made you come here in the first place: to place a bet in a new de-centralized technology that permits the certification of ownership and transfer of a value on/to any corner of the world in less than 60 seconds.

This is a message of encouragement, a message of spiritual and technological support. ITS TIME TO WAKE UP. Its not Max Keiser the Great's Coin, Its YOUR coin. It will not work without you. It will have no value if you don't support it and cherish it. Bitcoin’s price was not 1000 USD in the first month and the reason why it grew to todays relevance is because the believers believed and they were more than the haters that were going to hate.

Own Maxcoin, spread Maxcoin, promote Maxcoin, give maxcoins to friends, re-tweet Maxcoin, defend Maxcoin, understand Maxcoin, love Maxcoin.

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