Cryptocurrency Experience

[PSK]

Auroracoin$ 376,275,312$ 35.5310,589,901 AUR$ 334,525+811.57 % (overtaken litecoin).

A chinese whale miner I keep in contact with on skype told me to look at this coin 4 days ago...

I did but I didn't do anything more than look....

I could of been a millionaire if I bought in when he mentioned, sometimes it is best not to hesitate.

Just seen the capitalisation drop to circa $250,000,000.

 

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[CryptO]

Just seen the capitalisation drop to circa $250,000,000.

Reminded me of how coinmarketcap can be easily manipulated with a few btc on a low volume exchange.

 

[PSK]

http://www.coindesk.com/mt-gox-files-bankruptcy-claims-63-6m-debt/

About time. Now we can move forward.

 

[CryptO]

We had an unprecedented amount of requests overnight for AuroraCoin, so we're adding a 2nd market today - AUR/BTC! https://www.mintpal.com/market/AUR/BTC

I'm staying out of that one.

 

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[biggeemac]

Like all bubbles......perfect time to sell !

 

[biggeemac]

Does anyone have a pretty easy formula to share with me to determine if an alt is undervalued?

 

[PSK]

We had an unprecedented amount of requests overnight for AuroraCoin, so we're adding a 2nd market today - AUR/BTC! https://www.mintpal.com/market/AUR/BTC

I'm staying out of that one.

Saw it, was tempted to buy and sell some for a quick profit, but that would have meant selling my MINT at a loss. That coupled with the fact that there is a 50% pre-mine (with no guarantees it is actually intended for the Icelandic recipients) put me off.

 

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[PSK]

Does anyone have a pretty easy formula to share with me to determine if an alt is undervalued?

E=MC2

Joking aside. I don't think it is as simple as a formula. I think you look at a range of factors.

1) pre-mine;
2) devs behind coin;
3) algorithm;
4) no. of max coins;
5) size of threads on bitcoin forum;
6) social media (includign followers albeit this number can easily be manipulated);
7) no. of exchanges listed in;
8) coin innovation;
9) candle charts;
10) comparitor coins.

If most of them are favorable, then I think you can say a coin is probably undervalued (again, this is only ever best guess).

Alty will probably have more to say on this.

 

[CryptO]

To identify undervalued new coins, slightly different than trading old coins, I tend to keep it fairly simple and use something that (if I was to break it down) would look like this.

Good name (a) + something innovative (a promise) (b) + mining support (c) + escalating buzz (d) + xfactor (hpye/innovation/marketing/volume building) = moon

If you look through the threads on btctalk, you can see most of the above elements are checked (checking themselves) before and during a big rise.

 

[biggeemac]

@Alty.....Well ok, but can't something be in a bubble or too pricey, but still contain all of those elements? I guess I'm trying to understand buying something at the right price vs shooting in the dark and hoping to get lucky.

 

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[PSK]

@Alty.....Well ok, but can't something be in a bubble or too pricey, but still contain all of those elements? I guess I'm trying to understand buying something at the right price vs shooting in the dark and hoping to get lucky.

I believe Alty's observations are based on emerging coins rather than something that is already on the market.

 

[CryptO]

@Alty.....Well ok, but can't something be in a bubble or too pricey, but still contain all of those elements? I guess I'm trying to understand buying something at the right price vs shooting in the dark and hoping to get lucky.

Well, let's be honest, what we are all looking for are investing before the crowd does, in bubbles, in the altcoins to make maximum profits. Hanging onto dead coins is no fun and not very profitable, unless your name is Dodder and you have a master gameplane to trump us all

I've experienced and benefited from these bubbles in Bitcoin, Goldcoin, Megacoin, Moon, Leaf, VTC and now MINT (there have been lot's of little ones along the road too such as Doge).

So the things I outlined in what appears to be a very simple formula is what I look for when trying to find the next bubble.

Typically once the bubble has been and gone, move on, get looking for the next one. Like I said a few days ago when I quit MINT before coming back, it will never rise in the same way it did last week.

It is very unusual for me to go back into a coin and stay committed to it and if you want fast btc you shouldn't either.

So, unless you are going in for the long haul because you can see a long term future for a coin, you don't want to risk getting invested in coins that have bubbled, so check their history and that can help you eliminate lots of coins already.

So to try and understand how to invest in coins in a way that involves less shooting in the dark, use that forumula, feel the force!

I identified the rising bubble in mint before it truly exploded and I posted about it here.

https://bitcointalk.org/index.php?topic=450381.msg5254838#msg5254838

MINT and VTC for example still tick all those boxes but they are no longer rising stars in this game. They've made their mark and could/should continue to grow (esp mint) but that is now a question of hard work from the dev teams to get mainstream acceptance.

Which leads onto investing in older coins... It's all about the community and dev efforts.

 

[biggeemac]

I understand.....and as I am trying to rapidly build a very small stash of BTC, holding mint makes more sense for you than it does me.

That being said, any other newbies look interesting to you. I am checking into heavy coin ATM.

 

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[CryptO]

 

[exige]

The other thing i've started looking at are coins with renewed activity that are cheap post initial bubble. Coins that have the potential for another push that you can buy up cheap. This way it doesn't cost a lot to pick up a big stake and sit on it. But you have to be patient and wait for the market to come to you, and know that it may never come.

Leaf, moon, karm, cage and tea are my current "bets".

Then there's coins with longer history and some kind of solid innovation. I'm a big Peer Coin fan boy in that regard but from a trading perspective it's not good to get attached to coins.

Aurora is an interesting "hook" but I wouldn't touch it either. Some of the initial replies in its announce thread are pretty funny and good for a laugh. They got a cool website though.

 

[biggeemac]

Yeah aurora might be fun to play with once it pops and panic sets in

 

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[mememan]

Alty and exige present 2 possible valuation models. What about we take components from each?

Let's assume you are just wanting to get coins on an exchange. The only sites I am aware of that have sortable volume data are CryptoRush and Cryptsy, but between those, you should have the majority of coins covered. You could rank by volume high to low. This is the "interest" factor. Then, rank by raw price low to high. This is the "cheapness" factor. You want coins that have interest and are cheap. Buy 30+ coins that meet this criteria and HODL as they say.

The problem is in the sell price. I think most people target x10, especially large holders. I've debated on setting out sell orders right now at x10, x20,...x100 for 10% each or just x25, x50, x75, x100 for 20% each (letting the remaining 20% just ride).

I've also seen this formula, but according to it, everything is overvalued:

Total BTC Supply ÷ Total Altcoin Supply) ÷ 5000 to 10000

 

[PSK]

I believe BlackCoin went PoS today, it will be interesting to watch and monitor and see how it affects price.

Will be relevant in relation to MINT, although I do not think BlackCoin has the same community as MINT.

 

[biggeemac]

Mint @ 18 .....scary. I bought a little more at 19.

 

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[PSK]

Mint @ 18 .....scary. I bought a little more at 19.

I bought 8.5 BTCs worth at 41!

 

[biggeemac]

Eeek.....sorry man. I bought back in around 40 and quickly offloaded once i saw that the bottom was nowhere near. I changed my strategy a bit. Bought back in at 32, then 25, then 20, and last was 18.

 

[exige]

Bought some BlackCoin today just in case it does go anywhere. Trying to sort through and find some promising coins but there is just so much to go through. I see the Panda guys re-organized themselves and have some kind of neat portal they are testing, been debating whether to buy some in case they manage to pull off their miracle.

 

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[biggeemac]

I've taken positions in mint, utc, maza, and supposed to be getting some free zeit's. I'll let you guys know if i get my a$$ handed to me or not.

 

[Scofield]

I've taken positions in mint, utc, maza, and supposed to be getting some free zeit's. I'll let you guys know if i get my a$$ handed to me or not.

I've dropped all my UTC and put it all into MINT. Waiting to see what happens in the coming weeks and especially during the switch over to pure PoS.

 

[mememan]

Bought some BlackCoin today just in case it does go anywhere. Trying to sort through and find some promising coins but there is just so much to go through. I see the Panda guys re-organized themselves and have some kind of neat portal they are testing, been debating whether to buy some in case they manage to pull off their miracle.

The question is, which Panda? PND or PANDA? I think PND didn't have a pre-mine, but also doesn't have the Gravity Well. They are both the same price I think.

I'm going to go through and add a little more to my positions, then setup sell orders and let them ride. I have a portion of the cheapass coins that I'm going in deeper that I'll watch, but the rest can just do whatever. I've got 29k FAS, 100k KINETICS, and 50k GRID on Cryptostocks that may shoot off one day too

 

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[RCore]

Everything seems to have slowed down substantially over the last few days with the exception of Auroracoin. Mtgox bad publicity perhaps?

 

[mememan]

Who knows? Hope the dude who put $100k in MINT near the peak is doing okay

 

[biggeemac]

He's in it for the long haul and is probably been through this before

 

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[exige]

The question is, which Panda? PND or PANDA? I think PND didn't have a pre-mine, but also doesn't have the Gravity Well. They are both the same price I think.

I'm going to go through and add a little more to my positions, then setup sell orders and let them ride. I have a portion of the cheapass coins that I'm going in deeper that I'll watch, but the rest can just do whatever. I've got 29k FAS, 100k KINETICS, and 50k GRID on Cryptostocks that may shoot off one day too

Well, I mined PND. I didn't pick up any PANDA yet. I need to check and see where its at in litoshis or if panda/ltc is available.

Of course, BlackCoin dropped after I bought it. Good thing I only put half a btc into it. I expect it will come back.

Everything is down down down.

 

[biggeemac]

Buy buy buy