Cryptocurrency Experience

[rexxkai]

I have more than 100+ alt positions. I break my wrist going into positions; why do it again so soon?

My theory is that for this to pay off, BTC and others have to go mainstream. There's a panic to get into the assets, maybe the average goes up x100, and then I cash out. If not, well, I wasted some money.

You are the textbook definition of what diversification is. LOLLL

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[rexxkai]

I got some Doge.... again.

What am I thinking?

Doge fever?

 

[CryptO]

You are the textbook definition of what diversification is. LOLLL

I talk with JayKim on skype and we started calling this diversification technique "doing the dodder" lol

 

[mememan]

I talk with JayKim on skype and we started calling this diversification technique "doing the dodder" lol

Haha: I love it I went into this with the idea that I don't think a long term investment in BTC will make me rich (I really don't see another x100 with it, that'd make it $1T in market cap), and I can't really discern all that much from the trollbox. Of course, if you're willing to put big money, say $100k up, that'd make a difference, but would require complete faith in BTC.

I trying to target a x100 return overall, but looking at the market caps, I think that perhaps I should weight the diversification on the low coin end. A current market cap of $1M means a coin would be a $100M market cap then. There are only 4 coins above that at the moment. Then again, the process from coin release to growth has slowed a lot. I think FTC was one of the best performing coins last year. However, in about a month, Mooncoin is already 1/2 its market cap, and then we have Doge, which came out of nowhere and is #6 already.

So diversification wise, maybe I should move onto buying coins exclusively below the $1M market cap, and maybe even below $100k. That could get me to x100 easier, even though my original plan was that these coins need to have a massive public frenzy (think grandma and grandpa pouring their life savings into them) to lead to that return.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[rexxkai]

I see potential for this coin being p&d. We should do a fastlane group pump & dump!!!

 

[mememan]

I see potential for this coin being p&d. We should do a fastlane group pump & dump!!!

Mooncoin? I keep seeing people say KittehCoin will go to the moon. The whole Dogecoin v KittehCoin dynamic should excite the Internet dwellers.

 

[mememan]

And of course, there is also the CageCoin. It's laying pretty dormant now, but maybe it could be a CoinyeCoin replacement. Then again, they may be worthless, just like Lebowskis are. It was on Cryptsy at one time, but it's gone now. I don't even see it in the balance list, unlike StarCoin and HyperCoin. Actually, I think several coins on Cryptsy have super low market caps. They aren't even registering on cryptocoincharts.info.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[rexxkai]

Haha: I love it I went into this with the idea that I don't think a long term investment in BTC will make me rich (I really don't see another x100 with it, that'd make it $1T in market cap), and I can't really discern all that much from the trollbox. Of course, if you're willing to put big money, say $100k up, that'd make a difference, but would require complete faith in BTC.

I trying to target a x100 return overall, but looking at the market caps, I think that perhaps I should weight the diversification on the low coin end. A current market cap of $1M means a coin would be a $100M market cap then. There are only 4 coins above that at the moment. Then again, the process from coin release to growth has slowed a lot. I think FTC was one of the best performing coins last year. However, in about a month, Mooncoin is already 1/2 its market cap, and then we have Doge, which came out of nowhere and is #6 already.

So diversification wise, maybe I should move onto buying coins exclusively below the $1M market cap, and maybe even below $100k. That could get me to x100 easier, even though my original plan was that these coins need to have a massive public frenzy (think grandma and grandpa pouring their life savings into them) to lead to that return.

I like your way of thinking! Basically buy up everything cheap and wait for more ppl to get into cryptos to rise the tides!

I checked November's alt coin prices and compared with today's prices, and u would have profited if u bought any alt coin.

I am also calculating the rate of return for each coin, from November to now, to find out which coin is undervalued. This should show which coin is gonna give most profit!

 

[rexxkai]

Mooncoin? I keep seeing people say KittehCoin will go to the moon. The whole Dogecoin v KittehCoin dynamic should excite the Internet dwellers.

shit ppl noticed it already and ppl setting up small sells. GDC on cryptsy

 

[mememan]

I like your way of thinking! Basically buy up everything cheap and wait for more ppl to get into cryptos to rise the tides!
I checked November's alt coin prices and compared with today's prices, and u would have profited if u bought any alt coin.
I am also calculating the rate of return for each coin, from November to now, to find out which coin is undervalued. This should show which coin is gonna give most profit!

Yeah, except I'm thinking of being a little greedy and stupid and rather than getting into all the coins I can, just focus on sub $1M coins going forward. But then, if one of the coins above $1M kills every one else, I'll have lost out, so sticking with my original strategy may be the way to go.

What I was thinking of doing was going on coinmarketcap and looking at 180 day chart (or whatever's longest), for every coin. Take starting price (marketcap), peak price, and current price. See multiple from start to peak and start to current. That way, maybe I can put the coins into market cap "tranches" and see what the possible future multiple is. Like, I'd much rather sell in another November frenzy than in December. I also think when coins were added to coinmarketcap, they will already "live" and maybe on exchanges. Of course, I think the period of time for getting in really low into the coins is over, since a lot are launching with high market caps. Like Junkcoin was around $2k for a long time, but even the crappiest coin probably has a $50k cap instantly.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[PSK]

Did anyone see what happened with battlecoins. New coin. Opened at 0.05 and has quickly droppped to 0.00003. Feel sorry for the creator. He basically gave away a million and told people to hold, needless to say the vast majority dumped for a quick profit and sealed the fate of this coin. He spent 3 months working on this apparantly.

 

[CryptO]

Did anyone see what happened with battlecoins. New coin. Opened at 0.05 and has quickly droppped to 0.00003. Feel sorry for the creator. He basically gave away a million and told people to hold, needless to say the vast majority dumped for a quick profit and sealed the fate of this coin. He spent 3 months working on this apparantly.

Those spikes are very common when a new coin gets onto an exchange.

You want to buy before it gets on and be one of the first to sell in the mad initial rush.

I made some nice profit with moon yesterday by selling into the initial rush.

 

[mememan]

Did anyone see what happened with battlecoins. New coin. Opened at 0.05 and has quickly droppped to 0.00003. Feel sorry for the creator. He basically gave away a million and told people to hold, needless to say the vast majority dumped for a quick profit and sealed the fate of this coin. He spent 3 months working on this apparantly.

Wow, good thing I didn't buy it yesterday. Has anyone noticed a quickening of pump and dumps when coins are added to Cryptsy? I looked at a few charts and thought 7 days should settle things, but then something like this happens. RPC and OSC seem flat too, maybe since the pump already happened on Coinedup.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[mememan]

I made some nice profit with moon yesterday by selling into the initial rush.

Did you have MOON before? It doesn't look like it went up all that much to be honest on the "all" Cryptsy chart.

 

[rexxkai]

Went up from 1 to 38 at highest

Did you have MOON before? It doesn't look like it went up all that much to be honest on the "all" Cryptsy chart.

 

[rexxkai]

Thinking of pumping GDC. Not sure if gonna lose or gain money haha.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[mememan]

Went up from 1 to 38 at highest

I only see 17 as the open on Cryptsy.

 

[rexxkai]

I only see 17 as the open on Cryptsy.

Hmm. Maybe I got confused with another exchange. If u bought from Coinex.pw and sold to cryptsy you would have made a fortune

 

[CryptO]

Did you have MOON before? It doesn't look like it went up all that much to be honest on the "all" Cryptsy chart.

I started buying before cryptsy, between 5 and 15 satoshis on coinex.pw

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[mememan]

I started buying before cryptsy, between 5 and 15 satoshis on coinex.pw

So between Cryptsy, Coinex.pw, and Coinedup, that should cover all semi-decent (lol) coins then, right? What about openwx.pw?

 

[CryptO]

Yeah, Coinedup for example is exclusive for TIPS or fedoracoin, which I missed the boat on today. So those types of exchanges you can discover some brand new coins in their infancy. Fedora will hit cryptsy but will it drop after todays massive pump. I'm not risking it.

Never looked at openwx.pw, going to investigate.

 

[mememan]

Yeah, Coinedup for example is exclusive for TIPS or fedoracoin, which I missed the boat on today. So those types of exchanges you can discover some brand new coins in their infancy. Fedora will hit cryptsy but will it drop after todays massive pump. I'm not risking it.

Never looked at openwx.pw, going to investigate.

I see 5 coinex.pw exclusives, BFC, BOC, EXC, FRE, GRW.

Openex.pw has some coins no one else does, but they are super new, have been hacked once, and aren't on the list at cryptocoincharts.info.

I think I'll check Coins-e and then maybe that's it unless there is another place with a bunch more coins

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[mememan]

So I was bored and went through some sites to see what extra coins are out there:

COINEX

BFC
BOC
EXC
FRE
GRW

COINS-E

CIN cinnamoncoin
DTC datacoin
REC realcoin

OPENEX

BIC binarycoin
BLC blakecoin
BTCS bitcoin scrypt
CASH cryptocash
CHC chaincoin
CIN cinnamoncoin
DTC datacoin
KDC klondike coin
MMC memorycoin
PAND pandacoin
RAD radiactivecoin
SKC skeincoin
TES teslacoin
UNI unitecoin

That's about 20 coins. Openex.pw has some really weird ones I've never heard off. Not all of them are on cryptocoincharts.info.

 

[exige]

There are some coins with a lot of potential on coinedup.

 

[mememan]

Yeah, and my BTC is delayed due to MLK day. So hopefully nothing fancy until then :/ Any thoughts on the openex.pw coins?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[exige]

Yeah, and my BTC is delayed due to MLK day. So hopefully nothing fancy until then :/ Any thoughts on the openex.pw coins?

Well, Unobtanium is not exclusive to openex, but I am continuing to accumulate it because I think it is extremely undervalued right now. I don't know what they are up to, but I get the impression from idling in their IRC they are up to something, or at very least working their butts off buying ads and talking about buying billboard ads in L.A. I have no idea if their path will pay off, but its more than most other coins are doing so thats why I'm bullish on it...mining it and buying it up. Somebody is dumping money behind it, and I imagine they are going to want to get their money back... The time to have bought a crapload of UNO was a couple days ago when it dipped into the 3's.

QRK looks overpriced on openex, but I am holding a lot of it still on a wallet around here somewhere, it will take them a long time but I think the community is coming together in a way that it will eventually recover.

BinaryCoin I was looking into earlier today (because I was going to do a coin called Binary), and Radioactive. MemoryCoin still intrigues me, I think they have a really good idea, I just still don't know how I feel about the weird structure behind it and their ability to truly realize its potential.

Right now I'm going to call my next coin Version (units: vbills), it will spank MemoryCoin. But I'm 3-6 months away from having that one complete, as it is a from scratch implementation.

Anyway, the future value of a lot of these coins really depends on how much effort is put behind them, how much integration they can get with 3rd party sites and services, and how much publicity they can generate or leech off of bitcoin. Some of these guys are a lot better at it than others.

 

[mememan]

Do you have a simple quantitative way of seeing if a coin is undervalued? I've seen "assume current price is fixed, multiply by total if all coins mined" from here: http://altcoinspeculation.com/wp-content/uploads/2013/12/Report-3-Coin-Supply-Cap.pdf.

 

[exige]

Do you have a simple quantitative way of seeing if a coin is undervalued? I've seen "assume current price is fixed, multiply by total if all coins mined" from here: http://altcoinspeculation.com/wp-content/uploads/2013/12/Report-3-Coin-Supply-Cap.pdf.

I personally don't feel there is a mathematical way to determine that. Its just too random and too dependent on non-quantitative things. If I were going to make an algorithm I'd try to do it based on things like social media participation, news and publicity, IRC activity, etc. as opposed to the numbers of the coin design.

I'm no expert at this. I made a lot on LOT, by accident, and to date I've lost a lot on Peercoin and a few others but I am holding them believing they will climb a lot again.

The market is just waiting for someone or something to come along that provides an outlet into the mainstream.........

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[mememan]

I personally don't feel there is a mathematical way to determine that. Its just too random and too dependent on non-quantitative things. If I were going to make an algorithm I'd try to do it based on things like social media participation, news and publicity, IRC activity, etc. as opposed to the numbers of the coin design.

I'm no expert at this. I made a lot on LOT, by accident, and to date I've lost a lot on Peercoin and a few others but I am holding them believing they will climb a lot again.

The market is just waiting for someone or something to come along that provides an outlet into the mainstream.........

Yeah, which is why I adopted a "buy most everything" strategy. In stocks there are a lot of ways to tell if something is unvalued and if there is quality to the stock. Not here I guess.

 

[JayKim]

Any thoughts on the openex.pw coins?

Yes Id get blakecoin and datacoin.