/biz/ - Business & Finance

>>53058276
How does this all tie together? Kevin has 'sticky price theory' from a decade or two of experience. He decides he could reinforce these sticky prices with price floors. The first two times he does this (conservatively) it seems to work.

During a period of general good news and progress for Coinmetro, XCM price powers past €0.60 but begins falling back as the general outlook for crypto turns (it seemed at the time) short-term bearish. Rather than see XCM sink towards it's previous sticky price (whatever that is: 12c, perhaps 20c) and then have XCM spend months trying to get back to the 60c range- and struggle to be further bullish, since it will have already 3-5Xed at that point- Kevin decides to use a sell wall at 60c. This will then reinforce 60c XCM in everyone's mind, and help eventually make 60c XCM seem 'normal'. As soon as the short bear is over, XCM will launch from 60c. This would have been massively beneficial for XCM holders, but not really beneficial to Coinmetro at all. If you accept that Kevin isn't currently selling his XCM, it's a benevolent move to help the XCM 'community'.

Of course, crypto actually blows the fuck up, liquidity evaporates, and XCM holders (perhaps remembering that CM previously bought €1M of XCM and also apparently believing that Kevin could persuade a wealthy Arab to buy millions of dollars worth of an unknown crypto token) decide that their best hope is to relentlessly fud Coinmetro and act like cunts to every member of the staff until Kevin relents and magically conjures up the money to buy their bags from them at 60c. This massively damages any possibility of organic growth (which was already unlikely in a bear market), further reinforcing XCM illiquidity. And so we have the current shitshow.

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