Author

Topic: Altcoin trading - buying new coins? (Read 791 times)

sr. member
Activity: 259
Merit: 250
March 26, 2015, 01:15:50 PM
#10
Because some new Coins can fill a niche of a particular market in some ways or can offer improvements in which larger Coins cannot. Most every Coin is a clone of another Coin including the mainstream Coins, often many of these are much better than the mainstream Coins in certain ways and offer the chance to try new things. The majority of them are pump and dumps though so if you are interested in any particular one, you should research and see how development is going after a couple months and if it's got activity and developer working on it then by all means take a position in them.

The key is to do your own research. I agree with the quote above. There are two types of coins, those who hope to replace bitcoin with newer technology and those who fill a niche.

I am not a day trader but a longterm investor, and frankly there are so many coins offering new technology in hopes of competing with Bitcoin, I am not smart enough to pick the winner of that race, if there will ever be one

So I hold longterm positions and accumulate more when the price swings. My top picks are AppleByte, which supports the artist community and Gulden, which is gaining a foothold in the Netherlands. I also hold Doge from way back, as I like their niche in social media tipping.
sr. member
Activity: 266
Merit: 250
March 26, 2015, 04:35:58 AM
#9
Big buy orders is generally not a signal you should buy.
legendary
Activity: 882
Merit: 1024
March 26, 2015, 04:35:21 AM
#8
Because some new Coins can fill a niche of a particular market in some ways or can offer improvements in which larger Coins cannot. Most every Coin is a clone of another Coin including the mainstream Coins, often many of these are much better than the mainstream Coins in certain ways and offer the chance to try new things. The majority of them are pump and dumps though so if you are interested in any particular one, you should research and see how development is going after a couple months and if it's got activity and developer working on it then by all means take a position in them.
legendary
Activity: 1246
Merit: 1000
March 25, 2015, 10:22:33 PM
#7


This is a genuine question as I am not understanding this part of the market.


Thanks!

It's 99.5% manipulation. Big buy orders to lure newbies and unskilled traders to buy, and then they dump on them.



Yup.  "Oh WOW, look at that buy order volume!!!  TO THE MOON!!!!11one"

.00000010 - 0.002 btc
.00000009 - 0.009 btc
.00000008 - 15.69 btc
.00000007 - 0.012 btc
.00000006 - 0.003 btc
.00000005 - 0.001 btc
.00000004 - 0.001 btc
.00000003 - 0.001 btc
.00000002 - 0.100 btc
.00000001 - 1.020 btc
hero member
Activity: 574
Merit: 500
March 25, 2015, 10:04:45 PM
#6
We cant ignore the fact that a few new coins have really enhanced technology, such as more anonymitous, better diff retarget algo, better mining algo comparing with the existing ones. The speculators wont miss these opportunities if there is a chunk of profits arising.   
hero member
Activity: 966
Merit: 500
📱 CARTESI 📱 INFRASTRUCTURE FOR SCA
March 25, 2015, 02:46:24 PM
#5


This is a genuine question as I am not understanding this part of the market.


Thanks!

It's 99.5% manipulation. Big buy orders to lure newbies and unskilled traders to buy, and then they dump on them.

legendary
Activity: 2506
Merit: 1030
Twitter @realmicroguy
March 25, 2015, 01:45:00 PM
#4
Hello,

I am quite new in this world. I have read and studied lot of information about bitcoins first and then altcoins.

But there is something I can't figure out.

I am seeing in the exchange places some new coins having lots of buy orders. I really wonder who would buy some new coin and why?

I can understand the mining of those coins, and the will to sell them to make some profit. But i can't really understand the buying process. How can we think a new coin will gain value (most of them have no real enhancement in comparison of existing leading coins) ?
I guess the coin makers can try to level up the prices placing buy orders and increasing liquidity, but there are probably not the only one to place buy orders.

This is a genuine question as I am not understanding this part of the market.


Thanks!

At some point in the future, cryptocurrency is going to take root in the mainstream. This is an assumption - but I think a pretty good one.

Many early investors are speculating on which coins are going to succeed in capturing the hearts and minds of the consumer. Buying a coin now is basically placing a bet (speculating) as to which coins will eventually succeed in that critical quest for the consumer.
newbie
Activity: 16
Merit: 0
March 25, 2015, 01:33:38 PM
#3
Thanks for your answer.
I still don't understand what are the factors that can make someone think that a new coin will gain value.
Is it pure speculation and trading game? Or has it some fundamentals that I am missing?
legendary
Activity: 2002
Merit: 1051
ICO? Not even once.
March 25, 2015, 01:14:52 PM
#2
People who see it as an investment. They buy in hopes of selling when and if the value increases in the future due to whatever reason, be it a new feature, future block reward decrease, pow period ending, PR campaign, insider info, to accumulate enough to be able to move the market, you name it.
newbie
Activity: 16
Merit: 0
March 25, 2015, 01:04:57 PM
#1
Hello,

I am quite new in this world. I have read and studied lot of information about bitcoins first and then altcoins.

But there is something I can't figure out.

I am seeing in the exchange places some new coins having lots of buy orders. I really wonder who would buy some new coin and why?

I can understand the mining of those coins, and the will to sell them to make some profit. But i can't really understand the buying process. How can we think a new coin will gain value (most of them have no real enhancement in comparison of existing leading coins) ?
I guess the coin makers can try to level up the prices placing buy orders and increasing liquidity, but there are probably not the only one to place buy orders.

This is a genuine question as I am not understanding this part of the market.


Thanks!
Jump to: