Black Tuesday for altcoins! - page 3.

negafen

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Quote from: Benjig on August 11, 2014, 11:57:07 PM

Quote from: Hfleer on August 11, 2014, 11:14:13 PM

Quote from: vuduchyld on August 11, 2014, 11:11:03 PM

I've been working on a variety of price-weighted and cap-weighted index concepts for alts...indexes that do NOT include BTC, which has lately been 93% of the total market cap (though now more like 94.5%).

It just doesn't make sense to me that one can't compare one's alt portfolio with some kind of benchmarks, and if the 2-3 indexes out there have BTC (they do), that comprises the vast majority of index movement. If I can't find an an index, I'll use my own for market direction and portfolio management.

For what it's worth, I have six different index concepts I've been toying with and they are all down 20-30% since last Monday morning. Selection is based on combined cap and volume figures. I've been re-balancing every two weeks, but considering changing that to every week. The one with the least number of coins has 31 coins that are not BTC, and, in that one, no LTC, either. Probably saved that one from oblivion!

Is it consistent with the ~30000 BTC being drained from then for Ethereum, StorJ, Stellar and Syscoin?

Well stellar also went down.. so the downtrend of other alts is not because of stellar.. maybe is because of the price of bitcoin that is going down..

Bitcoin only went down less than 5%. While litecoin went down 20% +. Something else is at played here.

Lauda

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Terminated.

Quote from: IXC2XIC on August 12, 2014, 01:09:44 AM

Quote from: Lauda on August 12, 2014, 12:51:47 AM

Then how do you explain DRK falling?
Surely it has nothing new to provide. Roll Eyes

Seriously? What does dark have to offer beside bogus anon tech?

You want real anon tech, your best shot is Cryptonote, the rest are all gimmick monkey anon coins. Dark will be tomorrow's Aurora.

Bogus?

Whenever you want to admit it or not, this technology works and the update is almost here. Even an developer of a Cryptonote admitted to it working. Wink

IXC2XIC

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Quote from: TaunSew on August 12, 2014, 12:52:36 AM

Many of those coins only had $5K to $50K volume in a 24H. Then came along Stellar which did almost $500K in one day, Ethereum with the cash slurping machine at the front door and other odd coin or two which is undergoing huge gains.

Not inconceivable that people are cashing out their alternates to invest what they perceive to be better opportunities (whether that's a long term hold or a pump-n-dump).

This theory makes a lot of sense. The alt market was already shaky. It wouldn't take much to make it collapse as selling begets selling. These events could have provided that catalyst to create the spark in mass selling of alts.

IXC2XIC

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Quote from: Lauda on August 12, 2014, 12:51:47 AM

Quote from: byt411 on August 11, 2014, 10:46:10 PM

Quote from: cuddaloreappu on August 11, 2014, 10:43:44 PM

many altcoins are just having a meltdown... does anybody know the reason?..

Because most of them are shitcoins with nothing new or innovative, and just copies of each other?

Then how do you explain DRK falling?
Surely it has nothing new to provide. Roll Eyes

Seriously? What does dark have to offer beside bogus anon tech?

You want real anon tech, your best shot is Cryptonote, the rest are all gimmick monkey anon coins. Dark will be tomorrow's Aurora.

TaunSew

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Activity: 756

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Many of those coins only had $5K to $50K volume in a 24H. Then came along Stellar which did almost $500K in one day, Ethereum with the cash slurping machine at the front door and other odd coin or two which is undergoing huge gains.

Not inconceivable that people are cashing out their alternates to invest what they perceive to be better opportunities (whether that's a long term hold or a pump-n-dump).

Lauda

legendary

Activity: 2674

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Terminated.

Quote from: byt411 on August 11, 2014, 10:46:10 PM

Quote from: cuddaloreappu on August 11, 2014, 10:43:44 PM

many altcoins are just having a meltdown... does anybody know the reason?..

Because most of them are shitcoins with nothing new or innovative, and just copies of each other?

Then how do you explain DRK falling?
Surely it has nothing new to provide. Roll Eyes

IXC2XIC

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Quote from: Hfleer on August 12, 2014, 12:38:54 AM

250% market cap up

http://coinmarketcap.com/currencies/stellar/

Well, that's good to know. I just dropped my buy-in price. Way too many coins out there to pay that much. Once these eager buyers are done buying it should drop.

Hfleer

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250% market cap up

http://coinmarketcap.com/currencies/stellar/

IXC2XIC

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What exactly is xxx%? It would be nice to know the lowest low so far to use as a baseline. Anybody know what the lowest point was so far? Thanks!

Hfleer

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Quote from: Benjig on August 11, 2014, 11:57:07 PM

Quote from: Hfleer on August 11, 2014, 11:14:13 PM

Quote from: vuduchyld on August 11, 2014, 11:11:03 PM

I've been working on a variety of price-weighted and cap-weighted index concepts for alts...indexes that do NOT include BTC, which has lately been 93% of the total market cap (though now more like 94.5%).

It just doesn't make sense to me that one can't compare one's alt portfolio with some kind of benchmarks, and if the 2-3 indexes out there have BTC (they do), that comprises the vast majority of index movement. If I can't find an an index, I'll use my own for market direction and portfolio management.

For what it's worth, I have six different index concepts I've been toying with and they are all down 20-30% since last Monday morning. Selection is based on combined cap and volume figures. I've been re-balancing every two weeks, but considering changing that to every week. The one with the least number of coins has 31 coins that are not BTC, and, in that one, no LTC, either. Probably saved that one from oblivion!

Is it consistent with the ~30000 BTC being drained from then for Ethereum, StorJ, Stellar and Syscoin?

Well stellar also went down.. so the downtrend of other alts is not because of stellar.. maybe is because of the price of bitcoin that is going down..

Stellar is still up xxx% this last 10 days.

zhinkk

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Quote from: byt411 on August 11, 2014, 10:46:10 PM

Quote from: cuddaloreappu on August 11, 2014, 10:43:44 PM

many altcoins are just having a meltdown... does anybody know the reason?..

Because most of them are shitcoins with nothing new or innovative, and just copies of each other?

And reality is finally catching up with prices. I hope this continues for shit coins and only innovative coins thrive (very few).

Benjig

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Quote from: Hfleer on August 11, 2014, 11:14:13 PM

Quote from: vuduchyld on August 11, 2014, 11:11:03 PM

I've been working on a variety of price-weighted and cap-weighted index concepts for alts...indexes that do NOT include BTC, which has lately been 93% of the total market cap (though now more like 94.5%).

It just doesn't make sense to me that one can't compare one's alt portfolio with some kind of benchmarks, and if the 2-3 indexes out there have BTC (they do), that comprises the vast majority of index movement. If I can't find an an index, I'll use my own for market direction and portfolio management.

For what it's worth, I have six different index concepts I've been toying with and they are all down 20-30% since last Monday morning. Selection is based on combined cap and volume figures. I've been re-balancing every two weeks, but considering changing that to every week. The one with the least number of coins has 31 coins that are not BTC, and, in that one, no LTC, either. Probably saved that one from oblivion!

Is it consistent with the ~30000 BTC being drained from then for Ethereum, StorJ, Stellar and Syscoin?

Well stellar also went down.. so the downtrend of other alts is not because of stellar.. maybe is because of the price of bitcoin that is going down..

Hfleer

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Quote from: IXC2XIC on August 11, 2014, 11:18:08 PM

Quote from: Hfleer on August 11, 2014, 11:14:34 PM

Quote from: cinder on August 11, 2014, 11:13:42 PM

Bitcoin is going down also.

If all alt coins are denominated in bitcoin, shouldn't this be considered normal?

No, because the coins go down by a factor of 10!

Exactly. But also, when Bitcoin pops hard most alts go up by a factor of 10-100. The key is buy them at the bottom which I think is now...or maybe in a week or two. We're definitely near the bottom I would say but I thought so last month. lol.

Or those high market caps were fads all along and there is no real floor. We will see soon enogh I guess Wink

IXC2XIC

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Quote from: Hfleer on August 11, 2014, 11:14:34 PM

Quote from: cinder on August 11, 2014, 11:13:42 PM

Bitcoin is going down also.

If all alt coins are denominated in bitcoin, shouldn't this be considered normal?

No, because the coins go down by a factor of 10!

Exactly. But also, when Bitcoin pops hard most alts go up by a factor of 10-100. The key is buy them at the bottom which I think is now...or maybe in a week or two. We're definitely near the bottom I would say but I thought so last month. lol.

Hfleer

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Quote from: cinder on August 11, 2014, 11:13:42 PM

Bitcoin is going down also.

If all alt coins are denominated in bitcoin, shouldn't this be considered normal?

No, because the coins go down by a factor of 10!

Hfleer

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Quote from: vuduchyld on August 11, 2014, 11:11:03 PM

I've been working on a variety of price-weighted and cap-weighted index concepts for alts...indexes that do NOT include BTC, which has lately been 93% of the total market cap (though now more like 94.5%).

It just doesn't make sense to me that one can't compare one's alt portfolio with some kind of benchmarks, and if the 2-3 indexes out there have BTC (they do), that comprises the vast majority of index movement. If I can't find an an index, I'll use my own for market direction and portfolio management.

For what it's worth, I have six different index concepts I've been toying with and they are all down 20-30% since last Monday morning. Selection is based on combined cap and volume figures. I've been re-balancing every two weeks, but considering changing that to every week. The one with the least number of coins has 31 coins that are not BTC, and, in that one, no LTC, either. Probably saved that one from oblivion!

Is it consistent with the ~30000 BTC being drained from then for Ethereum, StorJ, Stellar and Syscoin?

cinder

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Bitcoin is going down also.

If all alt coins are denominated in bitcoin, shouldn't this be considered normal?

IXC2XIC

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Quote from: williamevanl on August 11, 2014, 11:09:45 PM

Quote from: IXC2XIC on August 11, 2014, 11:05:31 PM

Quote from: williamevanl on August 11, 2014, 11:03:33 PM

Well folks, we all knew it was going to continue like this forever. (images of titanic come to mind

)

I wouldn't say forever. If you were around last November you'll remember this is exactly what happened. People were panicking and freaking out cause alts we're completely collapsing. Little did people know that was the best time to buy all you could afford.

First off, I was. Secondly I think this is just round one. Lets see what the next couple of days bring... Don't get me wrong though, there will be a time to buy but honestly only a couple options will be worth it.

I totally agree with you. I think we're gonna have a few more bad days although it could stretch to 2-3 more weeks but with a bounce off the bottom. The prices right now for most alts are ridiculously low as it is. What a bad time to be broke. lol.

vuduchyld

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I've been working on a variety of price-weighted and cap-weighted index concepts for alts...indexes that do NOT include BTC, which has lately been 93% of the total market cap (though now more like 94.5%).

It just doesn't make sense to me that one can't compare one's alt portfolio with some kind of benchmarks, and if the 2-3 indexes out there have BTC (they do), that comprises the vast majority of index movement. If I can't find an an index, I'll use my own for market direction and portfolio management.

For what it's worth, I have six different index concepts I've been toying with and they are all down 20-30% since last Monday morning. Selection is based on combined cap and volume figures. I've been re-balancing every two weeks, but considering changing that to every week. The one with the least number of coins has 31 coins that are not BTC, and, in that one, no LTC, either. Probably saved that one from oblivion!

Benjig

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Topic: Black Tuesday for altcoins! - page 3. (Read 3308 times)