Topic: [ANN][BITTREX] Plankton (FOOD) - A coin designed for serious traders. Hungry? - page 2. (Read 102013 times)

Dev? Plans?

food is 1 sat. Do we have any development plan?

Some decent tips. I'm hardly an expert... actually pretty terrible at trading overall... but one other important thing is for folks to realize why a coin may be going up or down. I think it would be interesting if someone with more experience wrote an article on price manipulation -- not how to do it, just how to properly spot it.

Pump occurs, then fud/trolls pop up... price dumps... then trolls magically vanish... price rises again, and process repeats itself over and over.

Dev announces new feature, new feature has 'problems' ... price tanks... dev returns with a miraculous solution, price goes up again. Devs alternatively just take 'breaks' and don't show up for several days or more during rough patches for a coin, again, tanking the price ... which can easily be rectified when the dev becomes active posting again.

Whales dumping to themselves in order to panic sellers into selling cheap coins back to them.

That sort of thing.

One thing that does annoy me sometimes is when new traders (or will assume they are new traders) don't recognize a market may be low volume, and if a rise is going on, decide to plop down their 3+ btc sell order in a market that is sustaining crumb-like .05ish types of sells. They basically destroy the rally on their own coins. You see them jump around trying to get their giant order sold, sometimes dumping and killing the price... like they are so eager to sell they can't spread out their orders into smaller amounts and just wait.

Came across this. Explained very well.

OK... here are the time tested strategies for investing in commodities:

1) Only invest money you can afford to lose.  Never invest money needed to pay bills.

Explanation:  The market can remain low and your losses not recoverable longer than you can stay solvent.  If you need that money next month, dont invest it. 

2) Do your research.  Buy quality, not hype. 

3) Trading on emotion is pure gambling.  Use logic. Have a plan.  Set a goal.  Be flexible.

4) Learn to spot the "Pump & Dump".  Buying on the pump can be profitable, but the dump comes without warning.

5) Prices go down faster than they go up.

6) After purchase, set a "stop loss" at 80-90%.
 
Explanation:  Purchase price 1000 satoshi.  Place coins for sale at 800-900 satoshi.  This way, if the market goes down, your coins sell and losses are limited.  Remember rule #5.

If the price rises to 1500 satoshi, move your stop-loss to 1300-1450 satoshi.  Now some profit is locked in.

Price now 3000 satoshi?  Change stop-loss to 2700.  This will lock in your profit when the market turns and you are not watching.

7) Leave the last 10% gain for someone else.

Short explanation:  You can never determine the top.

Long explanation:  Greed to get the last little bit out of an investment will cost you.  Not only is the top impossible to determine as prices rise, but there is very little trading at that level.  Better to sell at 10% under your estimate of the top, and while it is still rising.....that way your sale will not drop the market. 

Selling after the top is found and the price declines only causes the drop to accelerate. (panic selling).  The fastest percentage drop is always at the top.  So sell before the top is reached.

8 ) Buy a little at a time, sell a little at a time.  You cannot know the top or the bottom.

Explanation:  Prices go up and down every few minutes.  Best to average your buy and sell prices.  Instead of purchasing 1million coins at a time, (large purchase can cause the price to climb temporarily), then seeing the price drop back down, better to buy 100,000 every day or every few hours.  Dont forget to place your stop-loss. 

When time comes to sell, sell a little every day or few hours.  That will average out the price.

9) Diversify.  Be invested in different areas. 

10) Dont chase losses.

Explanation:  Purchased at 1000 satoshi.  No stop-loss set and price is 300 satoshi.  Waiting for the price to go back up is emotional trading.  Dont buy more at 300 satoshi.  Sell now, dropping the price further,  and place buy orders for the coin at 200-250 or so satoshi. 

11) Don't buy on margin. 

Explanation:  Buy on margin means you pay 10% of the purchase price and borrow 90% at low interest.  Also called leveraging.  This is very profitable in an UP market, but when the market goes down even 5%, investments have to be sold.  This causes a tsunami of sell orders and a severe sudden price drop.  Remember rule #5.

Bitcointalk member: Litoshi

Definitely need a noob trading school! I swear they kill the markets sometimes with ridiculous buys/sells! panic panic panic

We should also have sponsor a trading noob..Maybe big whales can say sponsor a trading noob with some coins and teach them to trade..Could be good. I donated to Nala btw to be adopted.

I'd lean towards whale conservation myself, but food giveaways aren't going to hurt the coin (thanks for the pizza by the way... put up my pics the other day on that food thread). It just seems like as far as an overall purpose and use, the coin's message is rather muddled.

As has been mentioned, whale conservation could get free media publicity as an extra bonus. I'd like to see a whale of the week adoption, although of course it's not my money, so Whale would need to decide if he wants to support, umm... whales... well, real whales I mean.

Personally, I see this as our biggest hurdle right now. Plankton doesn't have a clear focus and everyone has their own ides on where they want to take it. I'm hearing whale adoption/ marine preservation, food franchises etc, sponsoring events, introducing newcomers to crypto (the original idea) etc

Here is a good list sent to me on what we need to do http://www.forbes.com/sites/jaysondemers/2014/08/05/the-10-biggest-social-media-time-wasters/

Sounds good +1

It is still under construction 

Has or had? Okay, I know what you mean.


Look at the OP please.
There you will find links to everything (News, Faucet, Twitter, FB, Google+, Reddit, stories... ), but not a unique website.
Only a hint. WEBSITE: planktonwhalefood.com
And planktonwhalefood.com is not a good site because it looks like a link farm.

We need a roadmap! maybe a vote aswell.

What way are we going to go.. Food related or whale/marine preservation? At the moment with all media coverage here in Aus about japanese whale fishers whales may be the better way. With low funding this could be an easier step to set up.

What happened to NALA ? Is she adopted. Lets have a whale a week adoption?

Then having;
- paper, web, mobile wallets
- anon
- as mentioned a % going to a donation of whales. - hardfork change POS% and introduce buy back. It's fully mined so this should be fairly easy.
- Proof of Dev
- Start sponsoring whale conservation - setting up donation wallets on their sites // potentially getting media coverage. There are heaps in australia. The biggest being the Sea Sheppard(being a TV show) http://www.seashepherd.org.au/. It is backed by a lot of celebrities too. Could be a good stepping stone
- Getting on more exchanges - MP, swiss, polo, cryptsy. Social seems to have slowed down.
- more games? we were promised at least 2 at the start, where are they? I went and invested my FOOD to get one setup myself because nothing was being done.
- We have a team... but what is everyone contributing?

FOOD for thought people.

There is a lot of potential for thus coin..It just needs a general consensus and something to bring it lasting value.

It has a proper website: http://whalepod.org

I thought the coin already had a website, or do you mean a better website?

Mobile wallets, or general wallet improvements could help. But I don't know how much funding is left for the coin.

I think part of the problem has been its focus. I hope people don't take this as complaining, as its meant as constructive criticism, but there wasn't a real straightforward goal or focus with the coin initially. It appeared to be a little fun meme coin at first, then a coin geared towards food for crypto people. Or a mix of both. But I'm not sure if that really appealed to investors, at least not without a food portal or something similar where people could use the coin to buy food. Or chat, or whatever the portal was meant to be.

With a name like plankton, I would have thought perhaps whale conservation would have been its main goal -- perhaps have transaction fees go to a donation fund, or something like that.

Anyway, the asset idea I guess could work, but of course you need some assets to start with. At current prices, you would need an awful lot of donations. I do think that Plankton shouldn't be tied too closely to qibucks however... sometimes you don't really want to start a new coin with baggage from an old one.

What is the point of buying a coin if you don't want to hold it?
By making a coin asset backed will help get the coin recognized,and not as a pump and dump mechanism.

You have some great ideas. The only idea I dislike is trying to give bagholding a new meaning.

FOOD need some technical stuff like mobile wallets - I think.
But first, a proper website.

The coin is going down people are dumping you have any POSITIVE contributions to add then? Any better ideas? At least I had an idea to help the coin.

That's fine by me..you have your opinion and I have mine. . I thought asset backed coins would produce more value..maybe you guys have better ideas. Probably the idea of asking people to donate to help this coin was a bad Idea. I guess people only want to hit and run, pump and dump..That's cool too. ..Plankton Pizza domain is up for sale if the general consensus is not to do a JV with us. If the community rejects then I have nothing more to say. Goodluck.