BTCD

File: "dead coin".png (75KB, 1103x548px) Image search: [Google]

75KB, 1103x548px

I've got a pretty massive tip for you /biz/. It's a bit long, but hear me out, it could make you a lot of money.

The devs of BitcoinDark (BTCD) recently had an ICO on a new coin called Komodo Coin, where they raised 2639 BTC.

Following the ICO, they are now allowing BTCD holders to swap one BTCD for about ~50 KMD through January, 2018. Already, 80% of BTCD has been converted to KMD, which has drastically cut the supply.

Meanwhile, the price of BTCD has begun to rise at a steady pace...almost too steady. It's as if the remaining BTCD owners are slowly pumping the coin in order to drive the price up before the switchover cutoff. In this manner they'll be able to effectively double-dip on the coin profits if they are able to drop BTCD on unsuspecting investors. Additionally the BTCD floor is maintained by the KMD value based on the conversion rate. Therefore, the rise in price is buffered by, what is in effect, the same fucking coin.

Up until now I think all of this is fair play since it's generally a good strategy to lure investors. However, I believe that the $6 million that was raised in the ICO (+ existing holdings in both coins) will be used to pump the value of the dwindling supply of BTCD, since a lower market cap is easier to manipulate. BTCD price manipulation symmetrically raises the value of KMD, which is ultimately the main goal of the KMD developers.

It's brilliant. They're pumping their dead coin to raise the value of their new one, and can exit anytime before 2018.

What does this mean for /biz/? BUY BTCD, definitively not as a long-term hold (it gets riskier the longer you hold it), but at least in the short-term while it being driven up.