Ok, I'm currently at about 250k but as a student this is already far above my money risk threshold. Now I'm just not sure if I should bet my last shirt on this coin...
IF the market cap reaches a value of say 10m, which is a realistic number IMO, then I'll be sorry not to have bought some more octos, when I had the chance.
On the other hand, if I take the profit then, spot another octocoin-like promising coin in the future and reinvest, this would be much safer.
What do you guys think: all in and hope this will be a one shot, one hit? Or play it safe?
If something is a above your risk threshold you are in effect gambling, and the game could go every which way, because you have intense feelings about it, and are bound to make mistakes and panic moves. Sort of. Unless you are a brilliant chess player.
If you are not sure if you want to bet your last shirt, then you really don't want to do it ! You have plenty of Octo already, so you should be happy.
Never bet more than half of what you can afford in a single purchase. I recently was tempted to go "all in"... I almost put everything in on "sure thing" investment.. however, even though I was tempted to go all in, i didn't, because I had my rule " never bet more than half of what you can afford", and guess what.. the investment turned out to be dud, and I lost 1/3 of that investment... boy was I happy that I followed my own rule...
I think you should diversify your alt coin investments a bit more. It just makes sense, because in alt coin land strange things can/will happen between eye blinking. - so don't blink
Just try to find a coin that gives you the same vibes as Octo (hard), or you think that has some untold potential ? (many)
Good luck!
I agree. I have been advising people financially for a very long time and have always maintained a 20% rule. Having more than 20% of your portfolio in any one investment is very risky. If you have outside holdings to balance out your "all in Octo", that would help. I have been an Octocoin holder from day one (my son mined and I bought). I have a few coins that I think have a good chance of going the distance, but Octo is only the second one that gave me that 'chill up the spine, holy crap, this one is really different - it actually sounds professional' feeling. If you are looking to diversify in another coin that has a business plan mapped out for years down the road, extremely active developers, and a very well behaved community, then check out DNotes. That was the first coin that gave me that feeling.
p.s. At this point I would not sell your Octocoin to diversify - find the money elsewhere, like selling the neighbour's barking dog!
Hi, I guess I will stick with your 20% rule. sounds pretty reasonable!
Actually I wanted to buy some more, but there were almost no sell orders left. And with the current hashrate I would need to rent some very big farms on betarigs.
Anyway, I'm visiting the coin calendar everyday, in the hope that some promising new coin will appear before my eyes
I guess thats the best strategy: patiently waiting for real coins with a serious vision.
Though I'm a bit hesitant about coins with a completely new architecture, as I know how hard it is to create a completely secure system, when there are so many smart people around searching for security breaches etc.