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Cryptocurrency Traders Club - Page 22

Poll Results: How do you feel about crypto currencies in general (not any specific coin)?

 
  • 31% (20)
    This is the future of financial transactions and will replace current systems in 5-10 years!
  • 35% (23)
    It's an evolutionary step, but without regulation and standardization will likely be replaced eventually.
  • 20% (13)
    It's likely to go strong for a few years, but long-term will simply be viewed as a fad.
  • 12% (8)
    It's a ridiculous ponzi-scheme, and it could all collapse entirely any second now!
64 Total Votes  
post #211 of 319
Im still holding onto my NUT's too. lol

Im holding onto a few thousand BC as well. Wasn't able to dump when it was high so nothing left to do.

Next time going to out in some stop limit orders on Poloniex. I was unsure about having all my BC held in an exchange wallet after the whole Cryptorush debacle. So now sitting on the sidelines holding my bag of worthless coins.

Im being less optimistic on some of these coins future. They have no resistance to pump and dumped to the ground. My strategy now is mine-dump, buy-dump then hold in btc.
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post #212 of 319
I don't understand why people are freaking out about BC... It is still an extremely volatile coin that gets great returns if you play it correctly... It is people who are trying to be greedy who are the most disappointed, marginal gains and losses will put you FAR ahead with this coin. Buy on an uptrend, sell at a 2% gain, if the market goes against you sell at a 2% loss and try again later. Only put around 1% of your total coins at stake at a time and you will see HUGE gains over losses. I made a mistake and left my coins in BC while I made a 30 min drive and that lost me quite a bit of BTC, but if you do not hold for long periods of time you are not going to see these -60% losses everyone is complaining about. I saw a guy post that he went from having 200BTC worth of BC to 50 BTC worth; well that guy is just doing it wrong. LoL
post #213 of 319
Quote:
Originally Posted by blkdoutgsxr View Post

I don't understand why people are freaking out about BC... It is still an extremely volatile coin that gets great returns if you play it correctly... It is people who are trying to be greedy who are the most disappointed, marginal gains and losses will put you FAR ahead with this coin. Buy on an uptrend, sell at a 2% gain, if the market goes against you sell at a 2% loss and try again later. Only put around 1% of your total coins at stake at a time and you will see HUGE gains over losses. I made a mistake and left my coins in BC while I made a 30 min drive and that lost me quite a bit of BTC, but if you do not hold for long periods of time you are not going to see these -60% losses everyone is complaining about. I saw a guy post that he went from having 200BTC worth of BC to 50 BTC worth; well that guy is just doing it wrong. LoL

That's called asset management, I'd say it's a basic thing most people overlook.
But again, as digicidal put it, who will we profit from if we teach them all the tricks? tongue.gif
They are there if you care to do some research anyway...

Personally, I don't normally base on fundamentals for cryptos, candlesticks seem to work just fine for me with a few indicators here and there but nothing over the top.
I'm taking profits in the 5-15% range normally, but if I see a wave doing a 50% gain I might as well take it. Just don't get too greedy and time your entries and exits well, oh and don't risk more than 2-5% of your total capital on a trade.
post #214 of 319
I only have about 1.2 LTC and ~5million NUT. I continue to read this thread to keep myself somewhat abreast of a few coins and to keep myself interested. Thank you all for keeping the thread alive and spreading your knowledge. It's appreciated.
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post #215 of 319
No sweat, lots of good resources out there.

I'd suggest not getting too attached to any particular coins, emotions are bad when trading.
post #216 of 319
Thread Starter 
Quote:
Originally Posted by blkdoutgsxr View Post

I don't understand why people are freaking out about BC... It is still an extremely volatile coin that gets great returns if you play it correctly... It is people who are trying to be greedy who are the most disappointed, marginal gains and losses will put you FAR ahead with this coin. Buy on an uptrend, sell at a 2% gain, if the market goes against you sell at a 2% loss and try again later. Only put around 1% of your total coins at stake at a time and you will see HUGE gains over losses. I made a mistake and left my coins in BC while I made a 30 min drive and that lost me quite a bit of BTC, but if you do not hold for long periods of time you are not going to see these -60% losses everyone is complaining about. I saw a guy post that he went from having 200BTC worth of BC to 50 BTC worth; well that guy is just doing it wrong. LoL

LOL well, I still have about 45 BTC worth in my case (but yeah did have waaaay over that amount) - however, that doesn't really bother me. I only invested 15BTC over the first month and then another 10 in little pieces on up to 50-60K (based on the fundamentals not the charts, which were dismal) and most of it was at 450-500 sats when everyone dumped early. Sure I should have dumped everything at 80K-90K... but of course, I was sleeping at the time after entertaining guests and a 16hr day working (and trading of course).

So in my case at least, I don't even consider the 350BTC I could have made... because I would have also had to leave the entire thing sitting on the exchange for a month waiting. By the time I logged back in the drama was nearly over so I pulled out a very tidy profit and shrugged off the rest. Unfortunately that's the down-side to keeping a cold-storage wallet without having a 'hot-wallet' waiting on my workstation. By the time I got everything online and transferred... price had dropped another 35%. frown.gif

Regrets, sure I've had plenty of them - but there's also something to be said with just shrugging off a loss (OK "unrealized gain" is much more accurate) that's equal to your annual salary. smile.gif

And yes, that was the gist of my original rant... don't have loyalties to anything - because even if everything is perfect - and it never is - in an unregulated market, everything is susceptible to fraud, manipulation, and mass panic. So just take the profits where they exist and move it along till the next 'event'. biggrin.gif (Also why you never invest anything your not willing to lose entirely if everything goes horribly wrong... and with cryptos that's often the case).

On the other hand... turning 25 BTC into 60BTC with an optional 45BTC additional isn't a bad 6 weeks profit!
smile.gif

Edit... last I checked it was up at 26K... guess that 45 optional is now more like 36. smile.gif
Edited by DiGiCiDAL - 4/16/14 at 8:49pm
post #217 of 319
Quote:
Originally Posted by DiGiCiDAL View Post

LOL well, I still have about 45 BTC worth in my case (but yeah did have waaaay over that amount) - however, that doesn't really bother me. I only invested 15BTC over the first month and then another 10 in little pieces on up to 50-60K (based on the fundamentals not the charts, which were dismal) and most of it was at 450-500 sats when everyone dumped early. Sure I should have dumped everything at 80K-90K... but of course, I was sleeping at the time after entertaining guests and a 16hr day working (and trading of course).

So in my case at least, I don't even consider the 350BTC I could have made... because I would have also had to leave the entire thing sitting on the exchange for a month waiting. By the time I logged back in the drama was nearly over so I pulled out a very tidy profit and shrugged off the rest. Unfortunately that's the down-side to keeping a cold-storage wallet without having a 'hot-wallet' waiting on my workstation. By the time I got everything online and transferred... price had dropped another 35%. frown.gif

Regrets, sure I've had plenty of them - but there's also something to be said with just shrugging off a loss (OK "unrealized gain" is much more accurate) that's equal to your annual salary. smile.gif

And yes, that was the gist of my original rant... don't have loyalties to anything - because even if everything is perfect - and it never is - in an unregulated market, everything is susceptible to fraud, manipulation, and mass panic. So just take the profits where they exist and move it along till the next 'event'. biggrin.gif (Also why you never invest anything your not willing to lose entirely if everything goes horribly wrong... and with cryptos that's often the case).

On the other hand... turning 25 BTC into 60BTC with an optional 45BTC additional isn't a bad 6 weeks profit! smile.gif

Prices were never as good as they appeared on the coin, sure it got up to 90k, but if you had any large stake in the coin you would have crashed it down to much lower prices. It is kinda nitpicky but when calculating 'what you could have had' people need to realize that there was not 350BTC worth of orders at 90k, realistically there was not 350BTC worth of orders on the entire exchange. That should make people feel a little better about the crash and all. On a side note, have you been mining whitecoin at all?

Edit: Also Sorry about your loss, I was actually not talking about your post specifically in my post, it was on another site that I saw that story.
Edited by blkdoutgsxr - 4/16/14 at 9:02pm
post #218 of 319
Thread Starter 
Quote:
Originally Posted by blkdoutgsxr View Post

Prices were never as good as they appeared on the coin, sure it got up to 90k, but if you had any large stake in the coin you would have crashed it down to much lower prices. It is kinda nitpicky but when calculating 'what you could have had' people need to realize that there was not 350BTC worth of orders at 90k, realistically there was not 350BTC worth of orders on the entire exchange. That should make people feel a little better about the crash and all. On a side note, have you been mining whitecoin at all?

Edit: Also Sorry about your loss, I was actually not talking about your post specifically in my post, it was on another site that I saw that story.

LOL - don't worry about it... I don't consider it a loss - but rather a massive gain - as I had planned on just leaving that in cold storage for at least 6 months (I really do still believe in the coin). However, when I saw what was going on I certainly admit to allowing myself more complacency than I should have - when it hit 50K I should have been loading most of my BC onto Mintpal and at least started unwinding 200K BC or more as it was going up.

But at least as far as I'm concerned - absolutely none of this could ever be a real loss even if I were 'wiped clean' - I mined all my original BTC, I only trade with about half of that... and so far my current 'tally' on BC is 35BTC in pure profit (back in paper wallets again), with 150K BC in cold storage and a little less than a third of that on the exchange along with a similar amount of BTC (to set spreads when I'm sleeping). Not to mention I would have to pay taxes if I cashed out and actually used any of it now that it's considered income and I sit just under the top tax bracket as it is... I'd basically lose half of everything I convert to fiat. frown.gif

I don't really mind losing out on the very top/bottom of these huge manipulated surges - because I simply don't trust the exchanges or the Interwebs enough to have the majority of my crypto currencies where I can easily get to them. That means I have to pretty much accept that there will be times when I have big losses because I couldn't capitalize in time. But it also means I have times when I completely forget about something and suddenly see that it's up 1500% from where I bought it.

Edit - Whitecoin is against my religion... I might day trade it... but I decided a while back never to mine IPO or premine coins unless there's a compelling reason. Too many fail before someone with my tiny hashrate can even accumulate enough to matter - and even if they do there's always the knowledge that someone out there has 100X as much just waiting to dump it all at a moment's notice. Also not a fan of the rest of it either actually... they somehow managed to botch a copy-paste of blackcoin and make it much, much worse in every way. The no-premine and perfect launch and difficulty re-targeting (as well as PoS and under 75M coins) was what drew me to BC in the first place - and I still think my 150K will be worth more than my 400K was 3 days ago... eventually. smile.gif
Edited by DiGiCiDAL - 4/16/14 at 10:02pm
post #219 of 319
What do you think of Vertcoin? Here to stay? Dying?
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post #220 of 319
VTC will be ltc's sucessor probably...but we'll see.
It's really hard to predict anything that's so long term really, fundamentals are hard to work with with crypto coins.

XPM is looking good right now, gpu miner's are finally out, price is reflecting that already...more descentralization of the coins, the constant botnet user's dump is gone and block reward is decreasing with difficulty.
Miners will need to cover power costs, so they can't afford to dump at whatever price.
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