Alt Coin Thread (Vertcoin, OMG, CVC, PAY etc).

JohnnyFlash

grindle wrote: »

https://ethereumworldnews.com/tenx-cofounder-linked-pyramid-scheme/

Funny that any positive news would cause a dip and this crap is up 5%.

¯\_(ツ)_/¯

Even by crypto standard, that Julian Hosp lad is some cowboy.

asteroids over berlin

so is anybody else buying in this market, i have made some moves on more well known projects and a punt on 2 minnows which i view as great potential, taking a step back again to see how things pan out but thinking about making a substantial move in January, really more so in BTC and ETH then - should they keep dropping. Interesting times, it's not going to disappear (my opinion only).

snowstreams

Im just cost averaging a small amount in each month. So if it ever comes back I will have a bigger holding to play with.
Im just really looking at BTC, but I have bought a few Alts that dipped heavy, but then sold a part back to btc on their minor recoveries.

Dohnjoe

asteroids over berlin wrote: »

so is anybody else buying in this market, i have made some moves on more well known projects and a punt on 2 minnows which i view as great potential, taking a step back again to see how things pan out but thinking about making a substantial move in January, really more so in BTC and ETH then - should they keep dropping. Interesting times, it's not going to disappear (my opinion only).

Can we ask - which minnows and why?

On a side note, Dec seems to be a "dead" month, but Jan/Feb seem to have some happenings, complete and utter speculation but I wouldn't be surprised to see a small rise at end of month or in those first 2 months. Don't know if the bear will immediately cull it though

makeorbrake

Dohnjoe wrote: »

On a side note, Dec seems to be a "dead" month, but Jan/Feb seem to have some happenings, complete and utter speculation but I wouldn't be surprised to see a small rise at end of month or in those first 2 months. Don't know if the bear will immediately cull it though

December is definitely a dead month - we may still see further price depression. January sees Bakkt launch. February sees the SEC having to make a decision on VanEck.

I don't expect there to be any major lift until June at the earliest regardless of how these things go. The institutional investment will not come in to play for a long time yet. It will be a slow process.

asteroids over berlin

Dohnjoe wrote: »

Can we ask - which minnows and why?

On a side note, Dec seems to be a "dead" month, but Jan/Feb seem to have some happenings, complete and utter speculation but I wouldn't be surprised to see a small rise at end of month or in those first 2 months. Don't know if the bear will immediately cull it though

not now, hopefully by the end of January. Both are down to 2c and 5 c range, trying to accumulate 250k and 100k in them

TallyRand

Penny shares! Stay away asteroid

ZeroThreat

TallyRand wrote: »

Penny shares! Stay away asteroid

exactly, I prefer to wait till tokens are worth multiple $ and then buy.

Dohnjoe

From my view, crypto is impossible to valuate so personally I always look at max supply

e.g. how much to hold one-millionth of max supply

Again there are many factors, but it's one that can be vaguely quantified

asteroids over berlin

TallyRand wrote: »

Penny shares! Stay away asteroid

i am in this game quite a while, this is the 3rd major bear market i have encountered, this being the most dramatic - as i said, they are a punt, both have great potential, if it works out, happy days, if not, so be it:pac: i take a punt every now and then on a minnow, Ethlend being the last effort last year - dear oh dear, managed ot get out even on that though

asteroids over berlin

Dohnjoe wrote: »

From my view, crypto is impossible to valuate so personally I always look at max supply

e.g. how much to hold one-millionth of max supply

Again there are many factors, but it's one that can be vaguely quantified

indeed, 1 billion is my absolute max limit, people are delusional if they think projects like xrp will get over $10 or even $5, maybe in a decade or so but no way in the near future

Missthekids

Watching the poor invest in 'alt coins' has been a few years of an education. What is an 'alt coin?' That would be anything that is not bitcoin.

You've all been investing in something that is not quite the same as the main player that ultimately failed. Oh dear. Oh, and to cap it off, they are replicated as soon as one becomes worthless. How many 'alt coins' are there now?

Keep picking the winners lads, it's like betting in a race where the favourite has a broken leg but you cloned it and gave it a different name.

Invest in the racetrack (blockchain) and ignore the masses gambling on the ponies hobbling around it.

makeorbrake

The old blockchain good, crypto bad mantra ...as started by the banks.:rolleyes:

Pintman Paddy Losty

makeorbrake wrote: »

The old blockchain good, crypto bad mantra ...as started by the banks.:rolleyes:

It is a stupid mantra.

Should be bitcoin bad and morally repugnant. Block chain almost entirely useless.

Missthekids

makeorbrake wrote: »

The old blockchain good, crypto bad mantra ...as started by the banks.:rolleyes:

The banks! It must have been the banks!

Oh dear. This old chestnut is the last stand of every other bad investment. Property, the tech bubble, opium and even tulips.

Greed is the scapegoat you seek.

makeorbrake

There's no earthly need to look for a scapegoat.

Missthekids

makeorbrake wrote: »

There's no earthly need to look for a scapegoat.

In the abscence of profits one seeks reason.

makeorbrake

I'm glad you came here and told us - we would be totally lost without your sage advice...

TallyRand

makeorbrake wrote: »

I'm glad you came here and told us - we would be totally lost without your sage advice...

Obviously you’re being smart here but I don’t see anything from that poster that is wrong or seem wide of the mark.

You often say I’m not objective because I don’t praise blockchain (even though I have to as much as I believe in it) but if that makes me not objective then I would counter your experience of hitting the crypto winners and cashing out at the right time doesn’t put you in an objective place.

Actually did you cash out of the coins because you wanted to realize a profit or because you no longer believed in the tech of the particular coins?

makeorbrake

TallyRand wrote: »

Obviously you’re being smart here but I don’t see anything from that poster that is wrong or seem wide of the mark.

In the same way as I don't influence your opinion (and despite what you expressed, I'm not interested in doing so in any way, shape or form), I fail to see much tangible being offered by said poster. I'll leave it at that.

TallyRand wrote: »

You often say I’m not objective because I don’t praise blockchain (even though I have to as much as I believe in it)

I didn't ask you to 'praise' blockchain or cryptocurrency. I believe I was explicit in what I stated but I'll have another go.
I said that the fact that you had NOTHING and I mean nothing positive to say about cryptocurrency or blockchain technology was and is indicative of a total lack of objectivity. When that was focused on, your response seemed forced. You can take it any which way you want but I don't see anyone here that can't come up with some advantages of blockchain tech as objective.

TallyRand wrote: »

then I would counter your experience of hitting the crypto winners and cashing out at the right time doesn’t put you in an objective place.

Ok, so you say it was a bubble and now I'm wrong to take profit? Are you saying I was wrong to cash out?? Really?

TallyRand wrote: »

Actually did you cash out of the coins because you wanted to realize a profit or because you no longer believed in the tech of the particular coins?

You appreciate the notion of taking profit, right? I found myself ill-prepared for the surge that occurred this time last year. That placed the vast bulk of my 'worth' in crypto. Naturally, there's nothing balanced about that.
I believe the tech has a future but there are many aspects to it. There's the tech itself - and the various projects. There's regulation and the role that the traditional financial services world and authorities play in all this. There's lots in the mix. So I won't be predicting anything but I am as strong a believer in the tech today as I was this time last year. In fact, those who have been watching it will see that 2018 was actually a good year. For the market, it was dreadful but for the development of the tech and nudging on regulatory aspects, it's been useful.

Just to add, I've gone back in to the market in recent weeks in a significant way. Furthermore, naysayers that have strength in their convictions have the ability to make $ - and put $ where their digits are and short crypto if its going to zero. This whole year represented an amazing opportunity for people who held that belief. Your bags must be bulging at this point, right?

JohnnyFlash

makeorbrake wrote: »

Just to add, I've gone back in to the market in recent weeks in a significant way. Furthermore, naysayers that have strength in their convictions have the ability to make $ - and put $ where their digits are and short crypto if its going to zero. This whole year represented an amazing opportunity for people who held that belief. Your bags must be bulging at this point, right?

Where would one short crypto in any meaningful way? On Bitmex? The whole thing is a shítshow of insider trading and manipulation. I managed to get a monkey on bitcoin being less than €10k on Paddypower. I'll make two rounds of drinks out of that.

makeorbrake

I see...so it's being manipulated so thats going to get in the way of a belief that it will go to zero.

Just so that nobody is under any illusions, market manipulation has been around for donkeys years before any of us had ever heard of crypto or bitcoin. It comes from the conventional financial services world. Crypto market is a drop in the ocean so it's vulnerable to market manipulation on the basis of its size alone. That's a fact of life until it gets more liquidity and it grows as a market. I'm not familiar with the gold market but from what I've been led to understand, its been the target of manipulation for the longest of times.

JohnnyFlash

The conventional markets don’t have: fake fun money like Tether, wash trading, painting the tape, Bitmex offering 100x margins and operating their own insider arm to profit from this, exchanges getting ‘hacked’ etc.

Where there is money and greed there will always be a certain amount of manipulation. The crypto bubble of 2017 was founded on it though. It was all fomo, hype, and hysteria. And now it has burst. That’s why they’ve dropped by over 90%, not a single mass market product has been shopped, and actual user adoption is less than it was 5 years ago.

Dohnjoe

JohnnyFlash wrote: »

Where would one short crypto in any meaningful way? On Bitmex? The whole thing is a shítshow of insider trading and manipulation. I managed to get a monkey on bitcoin being less than €10k on Paddypower. I'll make two rounds of drinks out of that.

Margin trading, futures, using call or put options

It's quite accessible now

Daithi40

Dohnjoe wrote: »

From my view, crypto is impossible to valuate so personally I always look at max supply

e.g. how much to hold one-millionth of max supply

Again there are many factors, but it's one that can be vaguely quantified

The Crypto Millionaire app should be useful to you so.... no seriously

Dohnjoe

Daithi40 wrote: »

The Crypto Millionaire app should be useful to you so.... no seriously

haha someone made one, that's cool

makeorbrake

Dohnjoe wrote: »

Margin trading, futures, using call or put options

It's quite accessible now

Indeed but if he's just looking for an opportunity to soap box, I guess he won't find any of that information useful.

asteroids over berlin

Missthekids wrote: »

Watching the poor invest in 'alt coins' has been a few years of an education. What is an 'alt coin?' That would be anything that is not bitcoin.

You've all been investing in something that is not quite the same as the main player that ultimately failed. Oh dear. Oh, and to cap it off, they are replicated as soon as one becomes worthless. How many 'alt coins' are there now?

Keep picking the winners lads, it's like betting in a race where the favourite has a broken leg but you cloned it and gave it a different name.

Invest in the racetrack (blockchain) and ignore the masses gambling on the ponies hobbling around it.

rubbish,obviously Bitcoin is the daddy and everybody should have as much as possible. However there are some great projects out there and many will take off and indeed many will die a death. It's early days!

smacl

makeorbrake wrote: »

Indeed but if he's just looking for an opportunity to soap box, I guess he won't find any of that information useful.

Agreed. I enjoy Mike Orcutt's articles which are both informative and critical as needs be. Problem I have with the would be critics on this forum is they're grossly under informed and tend roll out the same old lines from the soapbox that we've all heard a million times before. I'm of the opinion that both blockchain and cryptocurrency are here to stay but wouldn't be sure if any of the current projects will still be playing a major role in ten years time. If ETH can get over its technical hurdles, it is certainly a contender, and while many have written it off, I still think IOTA answers a lot of questions for all its shortcomings. Time will tell.

JohnnyFlash

Time will tell indeed, smacl. There may be some niche uses for blockchain, even though I'd be skeptical about that. Google Spanner, Cockroach, and a host of other upstarts are making shapes when it comes to distributed DB tech with time sync and non-repudiation technology. Blockchain is very '2010'. It's not great tech to be honest. It was 'trivial' at the time because it solved a computer science problem.

It's all gone Peet Tong though. Proof of work is a morally repugnant answer, as it involves participants spending as much energy as they can to get involved in this idea that the more they spend the more they can be rewarded. And that's bad. Or is it? That's the crux of the issue.