That’s my view as well. Not gonna lie though, it’s REEEEALLY rough to watch these surges where I’m like 80% sure there’s gonna be a price correction I could make money on. I’m trying to remain patient and just hold.
The amount I’m moving around I could cash out everything at +/- 1% of current price in about 30 seconds.
The real liquidity problems exist when you own either much larger chunks of coin or you’re trading a coin with very low activity in comparison to total market cap.
So due diligence on the coins counts for a lot. I may be a bit too bearish for this type of stuff.
Honestly most of the due diligence is done for you. Every coin I’ve looked at has had a subreddit with a plethora of information. Between the coin’s respective site, few subreddits, all I ever have to even look up is the supporting information to fact check the subreddit info I find.
The hardest part is the FOMO stuff. Bouncing bath and forth between coins can leave you with buyer’s remorse really really quickly. That’s why I’ve relegated myself to sit & hold. Plus I’m still playing with house money, otherwise the stress would probably eat at me lol. This volatility is stoopid.
I know. If I could buy options on these, I’d sell a kidney for them.
That’s actually a terrifying thought. If options were available on all the altcoins I probably wouldn’t touch any of em. And I’d start burying my money out back and hording bottled water.
Sure, it’d be a blow up. But goddamn you could make a massive return for little risk. I’d be all in, Casino Royale, dry martini all in.
I know a guy doing triple leveraged futures on these on daily trading. I nearly spat my drink listening to that.
He’s betting his shirt and the skin on his back with that type of move.
Yeah that stuff is too housing crash-y for me. Luckily the market for things like that is currently pretty small. Hopefully if govt regs anything it’s stuff like that.
It gets worse. He was triple leveraged per basis point. On something that has had 90%+ volatility!
What?
Who is stupid enough to write that contract for him? He’ll either be a billionaire or owe more than AIG lol. Was it a fly by night company that offers a bunch of futures contracts and then disappears with your money?
I have no idea, to be honest. My mind went blank and then i started laughing for a few minutes. The basics was enough for me to say “WHAT!?” without getting into specifics.
ZCash Classic is going to have a hard fork in near future. Both BTC and ZCL holders will receive a 1:1. Obviously it’s cheaper to hold ZCL at $200/coin. This thing could take off soon.
Also Bit Gold took off today. I’ve been doing a lot of reading Scazbo and bought it last night. Woke up in shock.
The Stellar Blackwater wallet got hacked. Check the reddit page. Apparently it’s pretty bad.
Consider purchasing a Ledger Nano Wallet for your coins, guys.
I’d have thought that an external hard drive not connected to the internet would be safest?
@dt79 I got totally screwed on the NXT hard fork watching my coins go from 2.20 to .60 and still don’t have IGNIS. Fortunately, I sold 75% prior to it hitting $1.00, but people sold the news and didn’t bother with the air drop. Did you stick it out for the air drop?
I’m not sure if I’ll bother with ZCL long enough to get the coins and sell close to peak. Thoughts? Also, I’m not sure how useful ZCL will be once BTP is released. As that seems to be the big thing other companies are attempting to do (RE: XVG’s Wraith)
That’s a good option too.
No, I sold at the time I wrote above. I didn’t buy back again. I bought and recommended NXT because, looking at the chart, there was a high probability of at least a 2-3x return. Not sure about ZCL so I’m not going to touch it.