Topic: Is Pennies the big secret thing you need to invest in? (Read 852 times)

A few days ago the CENT/XPM market was bouncing around between 0.00000001 and 0.00000002 so I invested 10XPM at 0.00000001

A few hours later they sold for 0.00000002, so I took the 20XPM and bought more.

Several hours later they sold for 0.00000002, so I took the 40XPM and bought more.

About a day later they sold for 0.00000002, so I took the 80XPM and bought more.

Now I have about 8 billion cents.

The CENT/XPM volume on Cryptsy has been absolutely insane the past few days, even though the price is pretty flat at the moment at 0.00000001 they are still moving huge amounts of coins.  Roughly 9,000XPM per day worth (~$30,000), down from almost 20,000XPM per day (~$70,000).  They might not be worth much, but in terms of trading volume, they are right up there with InfiniteCoin, CatCoin and other more "popular" currencies.

The supply of new CENTS coming into circulation will be drastically reduced come January 8, but that doesn't change the fact that there are still trillions, and trillions in circulation.  I'd like to say this will cause a huge jump in price but just take a look at the Sell list in CENT/XPM and CENT/LTC on Cryptsy - it's a mile long, with TRILLIONS of coins up for sale.  It's going to take alot of money to burn through that.

I bought a few billion more on the off chance that these may take off sometime after Jan 8.  It is a pretty low-risk investment as long as the trading volume holds (price can't go down!), the only risk is if BigVern decides to close the CENT/XPM market entirely (highly unlikely at this volume level - he is making 0.2-0.3% on every transaction) or if the volume drops off drastically, which doesn't necessarily mean you lose your coins, just might take a LOOONG time to sell.

I have heard some talk that Cryptsy might create a fourth market with CENT as the base coin.  With so many other low-value coins out there trading at extremely low prices (ColossusCoin, AndroidsToken just to name a few) it sorta makes sense to open another base market with an equally low-value coin.  But, as far as I can tell, this is only speculation.

--Edit--
If you have just a few million coins, I wouldn't hold your breath on getting rich or anything.  Even if the price does rise dramatically, maybe 10x current rates, the only people who will "get rich" from this will be holding in the tens or hundreds of billions, or trillions of coins.  If you have $1 of something and the price goes up 10x, you still only made $10

I love rhetorical questions.  Why not just post: Hey everybody, please buy Pennies so that I can get rich!

new in this
Would love to get a boost of loose change on CENT

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Well, its currently at a very low price (0.00000001 XPM) so you can grab a couple of million with the spare change you may have behind the sofa.

from what i can gather, the interest rate was bugged for a while, I believe the developer didnt know how to fix it and let it run without any solution which caused a large amount of coins to be minted but that will be fixed on the 8th of janurary by the new developer that has picked up the coin.

Appearntly there are big things planned but so far i havent actually seen any mentioned >.<

I took a gamble and bought 1.5btc worth at 0.00000001 XPM  so even if i have to add a sell order for 0.00000002 i still make a good profit.  but i think im going to sit on them for a few months and just see what happens, after all if for some reason they go back to 0.00000015 as they were on 12/12/2013 i'll be a very happy chappy with the biggest return i have ever seen :-) if the fix to the interest rate makes them sky rocket! i could be living in style in no time at all lol.

buuuuut! its a gamble! dont spend more than you can afford to lose, remember a small profit is still a profit! and the value of your investments can go DOWN as well as up.

all the best



(BTW im also prospect mining KittehCoin only need another 300k to reach 5 million :-)  and also recently prospect mined AlphaOmegaCoin to the tune of 1.8mil coins :-) hopefully they get listed on an exchange and get a bit of a return. lol i like to gamble ;-)  )

pennies sound like a great coin sure would like to own just a few.

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nope.

Pennies is still on cryptsy.

This coin was passed up in the big rally so look for it to possibly move up in 2014.
Does anybody know what the interest rate is for pennies if your store them in your wallet?

This could be the reason why Pennies is staying low...

Might want to think twice given Cryptsy turned this alt off today. Risky one. Not really any buyers to be had for it.

soo buing now cent would be a good idea in other words_?

After the LTC rally ended I've been speculating in alts. Most recent one was the CatCoin. Bought $4000 worth at 0.0006 BTC and sold at 0.0015.

Lots of money to be made if you play your cards right.

i keep wondering if this could be a fact that maybe soon pennies will go up like nuts all of a sudden. like who knows maybe 0.0000001 against BTC

and yes it is because i how a few million coins lol, but any thoughts?