Topic: Should I randomly buy into pumpcoins/shitcoins on bittrex ? (Read 3731 times)

sure why not

make sure to buy rubles and greek government bonds while you're at it

Another thing that's very important - it took Bitcoin 4 years before it went to the moon. 

If you want to have the opportunity to spend a few dollars on a coin and sell it for thousands, you will have to wait.  Not days, not weeks, not months, but years.

And if you're going to keep some of these coins for years, you cannot trust any exchange to stick around for that long and keep your coins safe. 

So if you think there's a 1% chance that a coin could go from $0.01 to $100.00, then buy some.  But withdraw some of it and keep it in a wallet.  You might not even be able to sync the wallet for some of these coins, so that may be a sign that the coin doesn't have a good future.  But for the coins that do have a working blockchain that you can connect to, learn how to store the coins in an offline wallet, encrypt the wallet, and make secure backups of the wallet.dat file for each coin. 

Thanks for your advices man !

As long as it can be traded, there's the possibility for a pump&dump. You could use this chance to sell your coins with a lower loss.

I'd just second that. Some good coins turned to be shit and vice versa. Id'd devs ftw.

go for EXCL and u will be good

I used to do this when I started out, and it worked ok.  I would buy almost every coin on poloniex, maybe .01 worth of each, and then start setting orders.  If the coin goes up 1000%, I already have an open order to sell 10% of what I bought.  Then another 10% if it goes up again.

The reason I did that is because I didn't know much about crypto, so I was trusting that poloniex had chosen some of the better coins.  I did avoid some like BALLS, or ones that were too expensive like SYNC.  So I made a little money that way, but then I started researching, googling, and reading hundreds of pages of information here at bitcointalk.  You can't believe anything that one person says, especially about an altcoin, so you have to keep digging until you get a bigger picture of what's real and what is lies.

So I started selling my coins that seemed to be outright scams - URO, BCN, anything with huge premine or false promises.  

Then I started selling the coins that are just clones or have nothing special to offer.  But I waited until I could sell them for more than I paid.

I still have some of those randomly-bought coins, still waiting for the price to be more than what I paid.  Some of them will probably never get there, and some of them will probably be delisted.  But it will only be .01btc for each coin, while I have already made an overall profit on other coins.

My "buy everything strategy" got me some coins that I am still holding, for example I bought Stellar at 400, 600, and 700, and now it's selling for 1800.  I bought Opal for 899, and now it's over 3000.  I bought some Storj for 4000 and 5000, and now it's over 10,000.  I bought Dnotes at 1400, and now it's 4000.  

But I also bought some Altcoin Herald for 3000, and now it's 100.  (I did sell some for 4900, but I still have some).

So, without being able to see the future, how can we buy more of the good ones and less of the bad ones?  

#1, try not to buy high unless you're really sure the price will never drop again.  If you think a coin is selling for a good price today, then obviously it would be an even better price if it was a little cheaper.  Put in an order for less than market, and wait.  Have patience.  And seriously, don't pay the ask unless you can admit to yourself that you're afraid nobody will fill your bid.  Emotion drives many traders;  they sell because they're scared, and they buy because they're excited.  You want to be the calm person, buying from the scared people and selling to the excited people.

So find a good coin with solid fundamentals, no huge premine, no trillions of coins floating around, with a good name and good reputation.  And then look at the charts - has it been cheaper recently?  Is it on a sharp upward spike that you've already missed out on?  Maybe wait.  Maybe it will keep going higher and maybe it is a good buy anyway, but there are plenty of other coins that are currently cheap that might be better buys today.  

nan

and you are an asshole.

Many small wins pale in comparison to a big loss.

+1 .. I've been down this same road before, and had nothing but loss. maybe i just suck at trading, but now i only buy BTC and hodl. Yes, it's boring at times, but at least i'm not losing money and worrying about holding bags of shit (coins).

YMMV of course.

Yeah you're right I think.
But I mean here, the dev said to people that he scammed them, he insulted them, changed the coin-related thread name into "DONT BUY ICO SHIT MORONS". So what could they hope ? It's more than dead.

If you're right about it, they must be really stupid...

maybe a better idea to buy coins with potential

It is the hope. psychological factor, it is all about it-

You have coin that costed 100USD/1  now it  costs 1USD/1coin. You do not want to get delisted  because you are keeping telling yourself- it will come back. But if you do this, you already lost.

The biggest danger is a sudden delisting or blockchain problem.

If you have the tools to analyze network health I would do that before buying any random coin. Make sure there is still a strong heart beat before you risk money.

I would also stick with an exchange like Cryptsy where delistings do not strike like lightning. I would never use Bittrex for a plan like this.

Man, this makes no sense at all. Do not tell me that people who bought at 800 sat really care about their coins worth 5sat, this is not even called money, it's nothing.
So then, why the hell is this happening ?

Bagholders my friend. You got a few btc into a coin you don't want to see it die. Once off the exchanges the coin is dead dead dead.

For example guys, take a look at this.





This coin is 100% a deadcoin. The dev, after selling every single coin of the ICO, put pictures of him happy in a fucking badass hotel to make people rage, so it's clearly a deadcoin.
Then, why the hell are there every 2 weeks 2 btc worth of volume just to avoid a delist of the coin ?

What is the plan behind it in your opinion ?

Thanks for your awnser ! I'll tell you if it paid out

I think devs tend to make sure they own almost all the coins minted for a particular shit coin before they pump it. Then they become the only person able to significantly dump the price back down. They can use tricks like a huge premine or instamine to achieve this,