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Topic: Alts are so cheap, are you buying or selling? - page 2. (Read 2789 times)

newbie
Activity: 28
Merit: 0
That should see I was buying price, now the price is higher than the then buy price, then I sell, and buy. No confidence in the long-term.
What do you think?

Indeed, now the price tends to make people so embarrassed, don't know how to choose.
hero member
Activity: 672
Merit: 500
merged mining is not true POW ,  Angry
legendary
Activity: 1876
Merit: 1000
Yes there are alot of older coins out there with active devs that are indifferent to the coins price vs USD they are the ones to keep an eye on, and the most likely to survive a prolong bear market.
legendary
Activity: 2940
Merit: 1090
Exactly, that is why the time to buy is on the way down and at the bottom (on the way is so you definitely at least got some somewhat cheap even if you don't guess the exact bottom), not once they start going up. Once they start going up you want to already have your sell orders in place waiting to sell at a profit the coins you already bought back when it was going down. (And while it is going up, people buying your sell orders, place your buy orders ready for the next down-turn.)

The trick is to figure out which are the serial up-down-up-down coins and which are only going down because they are merely a dump not a blockchain with serious miners devoted to securing it.

A big clue there is that miners who do not have to abandon one coin to mine another can well afford to continue securing the coins they already mined while still being free to mine new coins. Thus the appeal of the merged mined coins. Look at DeVCoin for example, it has gone down many times but keeps on skyrocketing back up again too.

Basically those coins continue to have hashrate securing them even when they do go down in value, so are well positioned to go back up after each wave of useless garbage that lacks hashpower gets dumped into oblivion.

-MarkM-
legendary
Activity: 896
Merit: 1000
From a purely financial perspective, I feel that the markets right now are too tenuous for people to buy. So for now, I wouldn't necessarily say sell, but I probably wouldn't buy.

A lot of this is due to the price of BTC. I think once BTC starts showing signs of a prolonged rally, then it'll be another good time to buy some coins, but there is usually a very small window between those times. There is only a slight delay between the time BTC goes into a prolonged rally and altcoins following suit.
legendary
Activity: 2940
Merit: 1090
Or buy old ones that are cheap. Some have patiently worked for years preparing themselves to be secure before going onto an exchange; miners with that kind of patience seem less likely to just dump all those years of work for a pittance, whereas miners who simply instamined for a day a coin whose starting difficulty was way too low or that had extra-high block rewards on its first blocks (often alongside having ridiculously low starting diffculty so those superblocks could be instamined) have proven to be almost unable to resist the temptation to insta-dump the moment they hit an exchange and instamine another such scamcoin abandoning the one that got onto an exchange.

-MarkM-
full member
Activity: 154
Merit: 100
Definitely most altcoins have a lifetime attached to them, but not all. Best to go with the newest coins and wait for their value to appreciate than buy older ones that are expensive.

I think the LETS systems are good, there are some benefits to them over cryptos, they don't require much resources, no need to worry about block chains, they are just centralized.

I saw one online LET for Australia called ozcoin, www.ozcoin .tk it looks very simple.

cyclos offers people free websites to run their own online currency.

It seems decent enough. Most of these crypto coins, there is not much of a worry of governments banning them anymore so I can see them being ok to be centralized. A lot of the ultcoins are really still centralized, the authors have complete control over updates and can force people to use their updates if they still want to use the coin.

 
  
legendary
Activity: 2940
Merit: 1090
It has nothing to do with centralisation, it has to do with securing multiple chains with the same hashpower so that mining one chain does not require abandoning the other(s).

The current tendency is "divide and conquer": dividing up the miners so that no coin has enough miners to be secure.

Defenders need to defend all targets, attackers only need to attack one at a time. The only way to feasibly defend is thus not to divide up the defense force between targets but to defend them all at once with the same force.

-MarkM-
hero member
Activity: 798
Merit: 1000
‘Try to be nice’
Merged mining helps because you do not have to abandon the coin(s) you are already mining in order to also help secure more blockchains also at the same time in other words to also mine other coins at the same time.

This jumping from coin to coin is an artifact of the failure of the coins to implement the ability to merged mine as a secondary chain.

If the new coins could be merged mined each one a miner starts mining they can keep on mining at almost no cost "forever" so newer coins coming out would not need to undermine the security of the existing ones by luring miners away from them. They would simply compete on features for a place in the merge, then just keep on chugging along forever like Namecoin, Groupcoin, Devcoin, IXCoin, I0Coin, Coiledcoin and Geistgeld.

-MarkM-


Not going to be able to push the old centralized = secure much anymore soon I dont think, it was always going to just be a matter of education,  I think we are starting to see real small investors come into the market.

These people are becoming much more educated.

This free market evolves very quickly.
hero member
Activity: 798
Merit: 1000
‘Try to be nice’
This was intended as a general question not about your favorite alt coin(s)

Buying/Mining new promising alt coins. Those older alts failed, just look at primecoin etc..

Please define "promising", do you mean hoping it gets on Cryptsy?

+1 ha ha

To your Question

Yes definitely buying quality now.

There are a few out there, I see Bitcoin fading away post crisis but it will be as good as any Quality during USD collapse / revalue.
legendary
Activity: 2114
Merit: 1040
A Great Time to Start Something!
I just saw where the USD markets are listed on Cryptsy. That should help some more cash flow into the alts!  Smiley

https://www.cryptsy.com/markets/view/2

I did see that too.
Let's hope they have clearance to start those very soon.
member
Activity: 112
Merit: 10
From the Place of Mount Everest & Buddha
I just saw where the USD markets are listed on Cryptsy. That should help some more cash flow into the alts!  Smiley

Usd Market
Cryptsy is most used Platform and US Based platform so this movement will help Bitcoin and Alt coins.
More flow of Fiat in Bitcoin and altcoins will help crypto development.
legendary
Activity: 2506
Merit: 1030
Twitter @realmicroguy
I just saw where the USD markets are listed on Cryptsy. That should help some more cash flow into the alts!  Smiley

https://www.cryptsy.com/markets/view/2
newbie
Activity: 28
Merit: 0
Hopefully none. BTC has the SHA-256 realm and just let it remain that way; other coins can be made to be merged-mined as it should be for something with strong infrastructure.

Anyhow, yes you did. I guess what I'm trying to say is that even the merged-mined coins like NMC/DEV just doesn't seem worth getting at the moment since BTC is still "struggling." I'd still rather get more BTC while it is in its dip, rather than divesting what I have in BTC to get alts. Don't get me wrong, I think that the merge-mined coins will go up (and in fact will likely gain significantly more value than coins in the scrypt realm), but I'd rather see the correlative TA first before taking that risk. I guess I'm just a smidge risk-adverse at the moment.

Heh, I guess in response to the thread question, I'm holding; but if I had to choose between sell or buy, I'd buy.
sr. member
Activity: 338
Merit: 250
...
Im selling most of my coins quickly to USD as Id rather have what I can get now guaranteed rather then wait and see.

Selling near the bottom when things look "hopeless" (and buying high when things look great), isn't that why most traders lose money?

I net a weekly profit and choose not to speculate on the market much longer then that.  But yes buy low sell high.  I feel the market is not at it's lowest, that seems to be your speculation not mine.   So wouldn't I sell.....and yes I know that is still speculating on the market longer then a week so fuck myself.

PS I never buy, I mine.
legendary
Activity: 2114
Merit: 1040
A Great Time to Start Something!
...
Im selling most of my coins quickly to USD as Id rather have what I can get now guaranteed rather then wait and see.

Selling near the bottom when things look "hopeless" (and buying high when things look great), isn't that why most traders lose money?
legendary
Activity: 2940
Merit: 1090
What do you think of proof of stake coins and their methodology in securing their blockchains?

The last I heard, no one had actually implemented any of the methods of implementing proof of stake that seemed at least theoretically to be potentially able to be secure.

That is why ppcoin for example is a hybrid; proof of stake is not secure, and even being hybrid it still apparently needs a centralised potential-attacker who gets to control which branch of the chain to promote as being the "real" one. (Some kind of central bank or whatnot that gets to create checkpoints that the clients blindly accept as correct, or something like that? Much like realsolid's solidcoin except its maybe not a bunch of special nodes doing it but just one guy/company?)

-MarkM-
legendary
Activity: 2506
Merit: 1030
Twitter @realmicroguy
then you haven't bought much  Roll Eyes and if you have then what u r really saying (as dev) is it should be worth even less  Shocked

No. I continue to buy Goldcoin because I believe it will become a highly successful cryptocurrency.

I'm just sticking with my original plan to continue averaging into the currency over time.



legendary
Activity: 1386
Merit: 1045
A promising coin is one that seems like there might be some chance its blockchain can and will actually be secured.

Namecoin for example might have promise if there is any chance that merged mining will become more widespread as margins on mining get tighter. At some point with profit from mining being harder and harder to make, the extra percent or fraction of a percent that one can get by merging could become pretty much the only profit miners are likely to make, at least those who don't have the cheapest electricity on the planet. So maybe merged mined coins, or some of them anyway, might someday have hash rates closer to those of bitcoin. That is more promise than any other coins so far it seems.

Basically some day it might happen that very few bitcoin miners are able to eke out any profit at all except by merging, since only mining bitcoins would not counter the profitability edge that people with slightly cheaper electricity have.

Even then though that would only make up for a rather small difference in electricity cost, unless some of the merged coins also enjoy a price increase relative to bitcoins so they contribute a larger percentage to a merged miner's income.

Thus I am buying I0Coins, DeVCoins, and even - although the question of whether pools will continue to merge them once they are not being minted anymore is a worry - IXCoin, and plan to start also buying NaMeCoin when I have enough bitcoins on the exchange to start into buying that relatively more expensive coin; and am of course merging all eight merged mined coins in my mining.

I would probably also be buying GRouPcoin, CoiLedCoin and GeistGeld if they were on any exchanges. (Though I can of course by dGRP from users of my Open Transactions server.)

-MarkM-

What do you think of proof of stake coins and their methodology in securing their blockchains?
legendary
Activity: 1876
Merit: 1000
Many older "respected" alts are extremely low now.
Are you following the crowd and selling/waiting or are you buying while prices are low?

I spent more money buying Goldcoin (GLD) during the past 3 months than at any other time.

then you haven't bought much  Roll Eyes and if you have then what u r really saying (as dev) is it should be worth even less  Shocked
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