How about investing a small amount in every new altcoin which is launched?

robelneo

legendary

Activity: 3416

Merit: 1225

Quote from: roparker2014 on February 16, 2016, 02:29:31 PM

$10 worth of Bitcoin at the price it was a few days after launch would make you a millionaire now.
So has anyone tried buying a small amount of each new coin as soon as it comes onto exchanges?
What are the returns likely to be for a strategy like this? Will the occasional big win (hopefully) outweigh the frequent small losses?

The number of new coins is big, but not enormous - I imagine this would be achievable.

All coins are not created equals some of them are just for the devs to make money,you should have an insight first on what coins that are worth your $10 do a good research on the coin that will surely pay off..

lezin

newbie

Activity: 15

Merit: 0

is it a fork of NXT ?

Snail2

legendary

Activity: 1512

Merit: 1000

All new coins used to start with an initial pump, so buying coins randomly when they hit the first exchanges it an excellent way to burn money. BTW forget about holding coins long term, 99% of the new coins are useless P&D shitcoins what used to disappear after a few moths.

unusualfacts30

hero member

Activity: 1540

Merit: 500

been there done that. it's not a stock market so creating diverse portfolio is retarded and you'll lose all your money because shitcoins will disappear next month.

get in, get out, don't get too greedy.

The Sceptical Chymist

legendary

Activity: 3528

Merit: 7005

Top Crypto Casino

Yeah dude, that's a recipe for losing all your money. Most shitcoins are going to zero. You might get lucky but you probably won't--why don't you do an experiment and track a shitcoin index with $10 invested in each one and see how it does? That way you risk nothing but your time.

BigUpGiddyup

full member

Activity: 168

Merit: 100

BigUp & WIN

Best way to know is to give it a go.

Some will flip quick.

Some might stick.

One thing's for sure... There is no trick.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Someone statistically minded must be able to put together a list of how such a plan would've panned out with existing coins.

commandrix

hero member

Activity: 798

Merit: 1000

Poor idea; you'd lose a lot of money in the scamcoins for the slim chance of catching the 1 or 2 in 20 that might actually go somewhere. Do your due diligence and invest in the ones that might at least stand a fair chance of getting pumped at some point -- which requires a fair amount of alertness but I have been heard to yelp, "Hold still, willya!" while trying to unload a coin that was being pumped (LOL!).

ArticMine

legendary

Activity: 2282

Merit: 1050

Monero Core Team

Spend some time and do you own research first before investing any funds. Taking a very thin slice of a foul tasting cake does not make it taste any better.

owm123

sr. member

Activity: 392

Merit: 250

That's what shitcoin and scam coin dev's are counting on. Many ppl investing just a little bit.

Just invest in what you think has some future. Investing in random coins is not very good idea, in my opinion.

edmundduke

legendary

Activity: 1624

Merit: 1007

Quote from: roparker2014 on February 16, 2016, 02:29:31 PM

$10 worth of Bitcoin at the price it was a few days after launch would make you a millionaire now.
So has anyone tried buying a small amount of each new coin as soon as it comes onto exchanges?
What are the returns likely to be for a strategy like this? Will the occasional big win (hopefully) outweigh the frequent small losses?

The number of new coins is big, but not enormous - I imagine this would be achievable.

The way it can be done is not investing in all of them but in the ones that look promising and have some support behind them. After you are sure some whales, important figures are backing it, you buy them as soon as they hit YoBit or any other starting exchange. Then wait till a bigger exchange adds them and then you sell at the initial pump the coin gets. It seems to be a good way of making some extra coin as adding bigger exchanges usually gives a nice little pump to price.

BitcoinNewsMagazine

legendary

Activity: 1806

Merit: 1164

Probably a good way to lose your working capital. Why not wait until a coin has a decent market cap and has shown it has legs before investing? Let someone else experiment for you.

roparker2014

member

Activity: 119

Merit: 100

$10 worth of Bitcoin at the price it was a few days after launch would make you a millionaire now.
So has anyone tried buying a small amount of each new coin as soon as it comes onto exchanges?
What are the returns likely to be for a strategy like this? Will the occasional big win (hopefully) outweigh the frequent small losses?

The number of new coins is big, but not enormous - I imagine this would be achievable.

Topic: How about investing a small amount in every new altcoin which is launched? (Read 750 times)