Topic: At what point do you sell your altcoins? - page 3. (Read 1505 times)

When you want to relate the Bitcoin of 2021, you will have to relate it to the Bitcoin of 2025, that's how it works. Bitcoin will end the bull run for this season in 2025 just as it did in 2021, and so will the altcoins. However, Bitcoin will lead while others will follow, though some altcoins would want to show some hesitance to falling before they will definitely yield to the supreme power of the crypto cycle.

However, I will not rely on anything other than my trading chart to detect this even as the cycle already hinted at the possible time.

First bit of selling for me today with Hbar & XRP going crazy I had to take some profits out.

If these last few weeks have just been a small taste of what is to come for us next year then we are in for one hell of a year.

The concept of underrated gems is nice, and is something the Galactic Milieu has long been into.

The Milieu's "treasury based assets" system, while initially adopted from sheer necessity due to it simply not being practical to attempt to rely upon "spot markets" for "price discovery" (there seemingly never being enough players actively working on market-making and arbitrage for such markets to be anything close to "efficient"), provides a built-in guide toward figuring out which "gems" are at a given moment "underrated".

Because the Latest Rates include-file shows the relative values of the treasury-based assets, it can be used to spot which of them are not trading on the spot markets at those ratios.

Obviously opinions can and presumably will vary as to the values that the other assets shown, those that are not treasury based (BTC, LTC, NMC), ought to be shown as, and fiddling with those is something many people are likely to do in many different ways, ultimately the file can also be used to spot bargains, especially in arbitrage opportunities such as, as I write this post, the probable undervaluing of anything you can buy using DeVCoins while DeVCoins can be bought for very few Litetoshis on FreiXlite exchange.

Basically anything on the list that you can pick up anywhere cheaper than your own fiddled-with Latest Rates include-file shows seems likely to be at least somewhat of a bargain.

By your own fiddled-with Latest Rates I mean for example that if you plug in some different value for something on the list and re-calculate from that change, you can make huge differences that can be very revealing.

For example, the published list always showns DVCrate as 1.00000000, indicating everything is shown as value in DeVCoins.

Comparing that to the value shown for BiTCoins you can see that typically DeVCoins are often a satoshi or more according to the treasuries-based calculations used to generate the published Latest Rates.

If you can pick up DeVCoins at FreiXlite exchange for just a few litetoshis though, that changes things... How many litetoshis are there to a satoshi?

Get the idea?

Of course the spot market prices of the assets that are not treasury-based, BTC, LTC and NMC, are also volatile so fiddling with their shown values can also be very revealing. Just because at the time the file was calculated they happened to be at or around the values shown does not at all mean they are still at that value even just by the time the calculation has looped through to completion or by the time the file is uploaded, let alone hours or days later between the re-calculation and re-upload occasions.

A really good example of an underrated gem is HORIZON's native coin, HZ.

If you look at the buy offers on the HORIZON platform for the various Milieu assets you will see that back when folks were posting those offers they were assuming that HZ was worth about a penny, whether that meant to them a US cent or a Canadian cent or an Australian cent or even maybe a UK penny or a 100th of a Euro.

That is because it really isn't all that feasible to even try to use HZ as a buy-side for a lot of those assets unless HZ is actually worth something like that or more; there simply were not enough HZ available to the players to build decent buy-sides for everything if HZ was ridiculously low in value itself.

Unfortunately a "griefer" happened along who was an HZ "whale" from many many years ago, back around the time when Poloniex de-listed HZ, and "dumped" the price of HZ on the Stellar platform down to maybe a 500th or even 1000th of that value.

This basically crippled the usefulness of HORIZON's "spot markets", since on HORIZON all trading pairs are whatever versus HZ; trading arbitrary assets directly against one-another has to be done player to player over the counter as it were in private trades not using the built in markets (although presumably one could use the built in sell anything system to contact potential trading partners).

Since we are still fairly early in the "build buy-sides on Stellar platform" stage, trashing the HZ price on Stellar was a particularly nasty form of "griefing" since everyone is still scrambling even to get hold of any Stellar Lumens at all with which to build up everything's buy-sides on Stellar; so rebuilding even what buy-side HZ once had there is proving so far to be a very slow process.

I know HZ needs to be brought back up to a penny or so and fully intend to make it so, thus to me I do not look at HZ as a long-shot hope for 100+ times value but, rather, as a sure-thing 100th or cheaper priced thing that I need anyway so am lucky to have this chance to pick it up at maybe as cheap as 1/500th of the minimum I plan to build it to.

Now that I am back in the BTC/XLM game and this time set up enough there to stay in, I have an ever-growing influx of XLM with which to get back to building buy-sides for all the Milieu assets on Stellar, and hopefully more and more of the civilisations, Corps, characters and players of the Milieu will also be back into a bull scenario so things seem to be looking good.

HZ's upside to those seeking underrated gems is that it needs to go up to hundreds of times the insanely low price the "griefer" dumped it down to just to do its job of being the buy-side for all the Milieu assets on the HORIZON platform, which is the only platform all the assets that had been categorised as "shares" on the Open Transactions platform (the ones prefixed with a lowercase s in the Latest Rates file) are implemented on.

There is no intent to make those assets more accessible by for example implementing them on Stellar because planet Earth jurisdictions can be nasty about anything along the lines of "shares" so keeping them only on the HORIZON platform, which long ago became pretty clearly a game-assets platform rather than a planet earth assets platform, helps players keep in mind they are NOT in any way to be construed as "securities" save in the game, some of whose civilisations could choose to view them as such.


-MarkM-


EDIT: I just looked at the Stellar Explorer again and it showed current or latest price of HZ as $0.003 USD, so obviously some folk have already been pushing it upward, however I caution you that that is likely to be illusory as the dumper is still "out there" and still somewhat of a "whale" thus this apparent growth might simply be a pause between times when he or she considers the buy offers column to be large enough to bother doing another "dump". Thus it would probably be wise to work on making the buy side stronger, a lot stronger, more than on raising its high end, at least until there seems some reason to believe the "dumper" has finished "dumping". Skinny little feeler columns upward maybe make sense to try to tempt the next "dump" to happen but probably better to look toward getting dumped on as much as possible first before building upwards...

-MarkM-

Personally, I'll be satisfied with 10x but it's probably because I'm still relatively new in the crypto space. Still, I believe not being greedy should be your aim. Just saying.

If you plan to let it crash into nothingness, that is, to abandon it at some point, why bother getting into it in the first place?

The ideal is for your family office or Corp or Civilisation to end up with all the coins anyway, since ultimately money is IOUs, and the value of IOUs comes from the assumption that they will be "redeemed".

So if it crashes that just means you just bought them back cheaper and cheaper and cheaper until at the bottom you got them almost free, and if you check how much some civilisations pay for paper or specie to use as tokens for their IOUs aka money, all you need do to stay ahead in the game is have that bottom be not too huge a price per token to pay for tokens you can use as IOUs aka as money for your own civilisation or Corp or family office or just as personal IOUs among your peer groups or whatever.

If you aren't prepared to back a money, don't waste time and effort on it.


-MarkM-

I too avoid DOGE, heck I even still avoid the even-earlier "lets spam more and more scrypt coins instead of working with the original ones" coin, LiTeCoin.

For those who don't recall, the original scrypt coin was TeneBriX, but it had a pre-mine so someone made a "fairer" one, FairBriX.

But then we began to see the spam more coins instead of actually supporting the coins we already have mentality rear its ugly head and the proliferation began... Someone who had the advantage of working in a job that gave him an edge on marketing decided to spam out yet another scrypt coin rather than for example updating the code of an existing one to keep it up to date with the latest bitcoin code, and LiTeCoin was not only spawned but also marketed directly in competition with the original scrypt coins and eventually DOGE came along copied from that copycat one and gosh knows how many scrypt coins we have by today.

Meanwhile here in the Galactic Milieu we continue to both buy and sell the originals, because as roleplaying game (RPG) gamemasters and players we know players do not actually like having their loot vanish from their pockets or even, really, to experience MUDflation and so on.

So as to the O.P.'s question of at what point do we sell, our answer is at every point.

If it were not that so many exchanges and wallets are so stingy with their allocation of number of offers one account is allowed we would ideally sell at every satoshi of price, even though it has historically sometimes taken hours upon hours upon hours of typing in offers only to have them all get gobbled up in moments not long after typing them in.

With platforms such as HORIZON and Stellar we can get around the pathetic number (less than 500, maybe sometimes only 100 or less?) of offers per account simply by proliferating more accounts, but with centralised exchanges their limits on number of offers is a real problem for market-making, and of course with them too one often also has to bundle more than one pair into one account thus not only limiting one further but also making it harder on the head to keep track of which sell-asset a given amount of buy-side proceeds belongs to. Arg. Yet another reason to deprecate centralised exchanges.

The real long term income is in the buying and selling, not in one's "capital".

If you make your desired income per payperiod, such as per month, do you ultimately really care whether for example your ten grand a month or hundred grand a month or whatever takes one million or more million capital to earn, once you actually have it coming in? The usefulness of capital is its ability to earn, and its ability to earn, absent built in hard-coded in your wallet staking (Proof of Stake coins) usually lies in the buying and selling.

So ideally we would buy at every point the granularity of prices subject to the trading fees permits and also sell similarly, constantly, always buying and always selling, buying cheaper of course than we sell at, huge columns of buy and sell offers.

Sure this historically has led to huge "bags" of the sell-side coins but so what, that initially means the sell side column can be built ever higher, then later it also means more and more of the sell side coins free to be tokenised to enable trading them on more platforms, and over generations it will presumably lead to more and more and more of them forever tied up, buried under swimming pools in long time frozen storage as backing for tokens that hopefully will never even need to be redeemed back to blockchain coins because they too will keep accumulating more and more, becoming ever rarer on the spot markets as more and more are tied up into long term uses.

Sell at every possible profitable point while also buying at every reasonable point, and to keep on coming out ahead make your buy offers column at least twice as "dense" as your sell offers column especially toward the bottom, so every time a chunk of your sell column gets bought up your resulting buy offers built from it never goes up past the average price paid for the span of sell column tempting buyer to sell back at greater than the average they just paid, and as long as price does not skyrocket up past your highest sell offer or drop down below your lowest buy offer you are forever "in play" profiting in both directions (both up and down).


-MarkM-

Hopefully alt season is here. Hard to pin point exactly when it is here but a few of my alts have been doing very well lately so hopefully its just starting but if its not then I expect it to in January.

Alt season.
After BTC dom falls off funds would flow from BTC into big alts - it will be time to think about fixing what you have till that point.
No need to be greedy.

It is too early to sell now , we still have many months of bull run to come.

Some altcoins are up 200% now but they will be 300% or more in a few weeks likely.

It is perfectly fine holding altcoins at this stage of the bull run , it is when the bull run is coming to the end that u need to sell.

PNL is good even now on most of mine too, however - I think we are nor done yet at all.
BTC didn't correct itself like it did in 2021 (to such a scale) and we are yet to enter the alt season.
Let's see where this goes.

I guess I will sell when I hit that 200% profit gained and don't want to be greedy on some alts knowing that some of them will experience a fast dump once altcoin season settled up.

Don't want to regret on why I don't execute my sell order while there's a chance and my trust for alts is less that's why I usually do this decision.

Only bitcoin can make me decide to hold for long years, but for other alts I guess I'm gonna pass thinking about holding it for long years. But if you can still hold on better follow the trend to monitor the movement on altcoin scene.

Thought I would bring this up again as altcoins are pumping last few weeks.

Some of mine are up over 200% since Trump won and there is a good feeling in the air again but it feels too early to sell now considering we have many more months of this bull run left.

How is everyone else feeling? What is your plan with the altcoins you are holding?

I believe in cashing out at the peak.
We got the vibe when it is PEAK n after the drop down, it's not gonna touch any specific point again.

again - some are traders, some are hodlers & some are collectors. All may have diff parametre.

It is necessary to follow the period for altcoins. A few years ago, Metaverse projects were popular and related altcoins rose a lot. Right now, all of them have calmed down. Similarly, NFT projects were popular for a while and they were preferred. There was a period when DeFi projects were also popular. I think that artificial intelligence projects will be popular and increase in the next bull period. I have already started to collect some altcoins slowly. Of course, any altcoin can be sold if its price increases to the level we want. In my opinion, the only ones that should be held in the long term are Bitcoin and Ethereum.

What you said is true, for me I see altcoin as a short-term investment, no matter how good altcoins pump during bull run they can never be compared with Bitcoin, lets not forget that there is every possibility that highly speculative coin has the tendency of pumping and dumping fast, we all know that altcoins are highly speculative as such investing in altcoin requires a high level of carefulness, as an investor, risk management should be your utmost concern, I don't think that it will be wise to take uncalculated risk because of the feeling that a particular coin may pump due to the hype given to it by the so called influencers, before making some move due to this fact, we should know that influencers are paid for their work done and whatever comes after does not really matter to them.
Know doubt altcoin can make people rich within a short intervals but the problem is knowing the particularly one that can do that, my major problem with altcoin is that no matter how good you think you know crypto, you can not invest in altcoin and feel free, there must be a little fear because of the unforseen circumstance.

Bitcoin is one in a million because it has the ability to make your money more valuable in the future but pump and dump coins can not give you such futuristic concept.

Once the bullish season appear in the market, I will begin to make some plans on how to release all the altcoins am holding at the moment, because they don't stay long like the way Bitcoin use to stay long in the market before it will decrease down for investors to purchase and hold again. It will be difficult for investors to hold altcoins when the bullish season is on ground, but you can only seen beginners holding altcoins like one or two years, because they don't have the knowledge of altcoins before they started holding it.  Ethereum and Solana are the remaining altcoins am holding right now which I know that I will release them for sale before the end of this year, because the price will definitely increase for altcoins investors to experience passive income soon.

Yeah, that was a hell of a ride but that is only just a beginning like you said and there's still more to come from it. Sometimes, it's okay to have a break for a while. It helps us to unwind and then be ready again for another bumpy ride. Indeed that for those who come this far, they shouldn't waste the opportunity but they can just wait a little more and for sure their efforts will get compensated later on. They will get proud of their selves and say that 'Phew ! Good thing I didn't give up' .

It is seems that you bought a lot during those years and it's not just a normal market condition when you bought your coins but it is when there is a bear. You have a good reason to take a rest for a while or until you sold all or most of your coins for profit during the peak of this bull run. It's nice to know that in crypto, there is more than just earning a profit but it can also teach us a lot of things and one of it is like you said, that it can test our patience. The good thing is that we can apply it in other aspects of our lives.

Anyways, it doesn't mean that when we are involved here, we will now only focus here. There is no such rule as that but just like the tagline of cryptos and Bitcoin which was 'freedom', we are still free to roam outside if that can make things more easier for us.

Anyone who's very knowledgeable about Cryptocurrency should know that Bitcoin is second to none and can be more rewarding if one invest heavily on it, I like the fact that you acknowledged that. It shouldn't be compared to an Alt in terms of investment worthiness but then due to some reasons people could still fall back to Alts for investment, well everyone has their choice of assets to invest on but then investing on profitable assets is what matters. In general why many people couldn't invest on Bitcoin is because of it's market value, and would rather invest on Alts that could give them 5x with the low budget funds they've got well it's not a bad idea since some Alts have shown good prospects over time however investing in the right asset is all that matters else the investor might be among those who think crypto is a scam. Well, it's nobody's fault that they couldn't afford to buy and hodl Bitcoin, use the dca method or even invest on (good working Alts) like you stated.

Priority matters my friend. I'm not sure the kind of profit an altcoin can give you Bitcoin will be able to give you such in anytime soon. I mean, will be a quick fix to make 5x on good working altcoins than for you to make that from Bitcoin, that's like making Bitcoin cross above $200k on the market but altcoin can make this happen under some days just that the risk in altcoins are not worth it sometimes but if you invest in good altcoins, you will only worry less about altcoins.

Bitcoin to me right now is capital requirement, you can't get enjoy the versatility in altcoin and Bitcoin. The money you need to make more money in Bitcoin is quite large, though if I personally has the money, I will pick Bitcoin before any other altcoins because it tend to give more yield on the bigger side if you have the power to hold onto 1 full BTC or even more.

As far as altcoin and any asset is concerned seling at any point is a personal decision but lets be sincere every investor  would want to sell when he or she is comfortable and satisfied with the profit have made so far, in other way round, some people invest in altcoin for diversification sake and once their expecation are not in accordance with the results seen, they pull out immediately irrespective of profit made, the thing is that, it also depends on the coin involved, we can't confidently say that we know the particular coin that will pump tomorrow, no matter how good we are in crypto business these pumps and dumps just happens and it takes perseverance and patients to keep holding altcoin, to me,  once there is a little pump in altcoin that I acquired I will pull out the profit and reinvest my capital to avoid total depreciation or lost of my asset as the case may be, the major reason why I will take  the aforementioned decision is because altcoins are not fully trusted although not all of them but dealings with altcoins should be cautiously and carefully done unless as an investor you are convinced beyond reasonable doubt.