Topic: [ANN][VOOT] OLD THREAD - page 204. (Read 302210 times)

+1000! This post is an holy grail of crypto trading. I will bookmark 10*

VOOT is going places 

VOOT coin   
 

Thanks, I try to educate newcomers to this game. In these new and unregulated markets any investment is basically a "lottery ticket". If you invest $100 you just bought yourself a $100 ticket in the Crypto Lottery.

When people buy a ticket in a real world lottery and don't win they think "ah well better luck next time" That is because they can't exert any control over the drawing. The fact that in crypto you can sell, buy etc at any time, that (feeling of) control is what messes with your mind. Just let go, invest, decide an exit point and wait (hold) know but not fear that potentially you lost everything you just invested. That is key, do not fear, say to yourself "I bought this coin and I will hold until it reaches this price" if you see it going down think "ah well better luck next time" That is why you should never invest rent money, grocery shopping money, mortgage payment money etc because with every price fluctuation you either think "wow I can buy this and that" or "damn I can't pay the rent if this drop continues" lose the emotion in trading, really, let it go.

In Psychology we call this loss aversion.  There is a well written Wikipedia article on it http://en.wikipedia.org/wiki/Loss_aversion  (I could bore you with scientific papers but that wouldn't be fun)

Also be aware of the sunk cost fallacy http://en.wikipedia.org/wiki/Sunk_costs#Loss_aversion_and_the_sunk_cost_fallacy. Which basically says people keep chasing their investments even if the signs indicate the investment is flawed. In a normal market people should not be afraid to minimize their losses by selling at a loss if the signs are truly bad. But this is crypto take the risk to lose it all, it's all just beer money anyway right? you invested money you could lose so risk it. In crypto trading anything could happen, a coin may be down 80 % today and up 200% tomorrow.

Let me stress this again; in regular markets or in other aspects of life, don't be afraid to minimize your losses by selling at a loss if there is something fundamentally wrong with the equity you are invested in. Ths applies to stock market trading and even figuratively to education and relationships for example. In crypto trading however the sunk cost fallacy shouldn't apply.

Let me end with a quote from Band of Brothers by LTC Ronald Speirs ( http://en.wikipedia.org/wiki/Ronald_Speirs )

The only hope you have is to accept the fact that you're already dead. The sooner you accept that, the sooner you'll be able to function as a soldier is supposed to function: without mercy, without compassion, without remorse. All war depends upon it.

If you can see the relevance of this quote to crypto trading you will be succesful.

Anonymous cryptocurrency + Vootmarket = Winning  shipping charges are extra

this is a very useful post. Already one time I has been in panic sell and I made a mistake. Now I hold, doesn't matter the fudstorm

People who think a single person can bring down the price of a coin are really obtuse. Let me tell you what happens:

Stages of a coin by SpringfieldM1A

1. Coin gets an announcement, people chime in on the thread, some start mining, some start yelling scam.
2. Coin gets added to an exchange, trading below 100 satoshi. Some normal people buy, some whales accumulate tons of coins. Price rises a little
3. Dev posts positive announcement in thread, some people are ecstatic, a little more people start yelling "scam" and "proof", price shoots up
4. Coin is now starting to trade around 1000 satoshis, peaking at 1500.
5. Dev posts new update, price shoots up again due to whales pumping, more people buy
6. FUD storm starts, people discrediting the coin, whales pull off epic dump, price drops 30 % to 40 % people are afraid and sell their coins cheap.
7. Coin starts trading in lower 500 satoshi range, whales accumulate
8. Silence for some time, 10 days at maximum
9. Dev posts another update, confirming he was legit all the time, whales now pull off an epic pump
10. Make or break point, coin will either grow naturally without the "help" of whales or crash into oblivion due to competition or fundamental flaws.

Can you see what is happening? Whales capitalize on good or bad news, they feed on both your fear and bullish sentiments. This will continue until a coin has a large enough market cap where it will be a lot harder to influence the price by large pumps or dumps. But remember above all: if there isn't found a substantiated flaw in a coin's infrastructure there is no reason for the price to go down. Stop trading with emotion.

Whales look for any signs of fear sentiments in the market, they will dump hard and inexperienced people see the price go down and think "Oh my god the coin is crashing" and sell. This is exactly what happened to VOOT, a single user (inadvertedly) posts serious FUD ammo for whales to massively dump, but there is nothing wrong with VOOT ! It is one of the coins that actually delivered a working anon function.

It works both ways, if whales spot bullish sentiments they pump.

Sometimes you see a massive dump on good news, why is that you may ask? Well if the news is really good, whales see potential in a coin and they want to buy more for a cheaper price. They dump to initiate panic sells "Hey I thought the news was good? why is the price dropping? I'd better sell" is what new people think, then proceed to dump their coins right into the whales' buy order. This will make the rich richer and the poor lose their shirt. Advice: keep an eye on the rich list of a coin in times of percieved crisis, you will probably see the top 50 or so addresses accumulate, while the smaller holders lose coins.

PROTIPS:
Do not invest more than you can afford to lose. This will take out the emotional factor in trading at least a little bit.
Consider your money "lost" the moment you invest in a coin, don't get emotionally attached to your invested fiat ever.
Decide an exit price for yourself and stick to it, don't be too greedy.
Do not cry over losses, this is crypto. You will probably lose a lot before winning. A win can compensate for all your losses though and then some.
Do not cry if you sold "too soon", profit is profit.

please reread this part : "I never said it was a scam, I said it could be, but do not take my word for it", that quote above is part of what I said, not all, axedcode already confirmed that

hmmm yes you did say it...  you FUDster....

MsCollec... I did not check the previous last 3 pages of the thread, you however have updated the OP with Nite69's previous post with the sync meta but forgot to say "this is sync, not voot", I did not know Nite69 was working on them both. I never said it was a scam, I said it could be, but do not take my word for it, the original chat log is gone now but the one above is a part of what I said.

Next time why not update the original with "this is the sync version of nitesend, as a example of the work we're undertaking on voot." instead of just putting them blindly there, im probably not the first person to notice that.


Updated:

Secondly, sync currently has the "First Anon TX on Blockchain" not voot, how about you stop misleading people until you actually have the first transaction preformed on voot to say that ?

yeah ok, unchecked i think that "out of context" quote could spiral pretty goddamn fast so

Let just say he doesn't know what's talking about..

Nitesend will be on two coins;SYNC and VOOT, you can tell that the anon tx transaction was on Sync. At this stage, i dont need to convince anyone to buy SYNC or VOOT, we already have a working anon without a masternode within 3 weeks of coding.

what troll box are you talking about?

if your a voot follower you have to be a sync follower, we all know us that follow voot that sync and voot are a family, im guessing at the people that dont know that it needs to be clear that nitesend is
being develop for both coins.

This is how spooked crypto has gotten, 1 guy in the trollbox who admits to not checking the whole thread can tank a market 25% in a minute.

tell me about i got some btc ready hopefully i could hit 400k.

Is he FUDer or is he telling the true?

Funny reply

[23:53]
mikegeister Of course sync transactions won't show up on the voot explorer
 

Ah! I've been waiting all night for cheap Voot 

lmao poor guy! let them dump buy orders are ready!