Bitcoin Forum

Hello all,
I just wander how you make profit of all those altcoin on the market nowadays. I know pump and dump, but is there another way to make a good profit from all the new coins and is it still worth the time? I am interested in investing some amount of money if a good offer is available right now. I was off the Bitcoin world for some time and will be happy to spare some time playing around :)
Thanks!

Regards,

Gondel

Well it is hard to say these days... Observing the community and developments is the first thing to do imo. People like originality right? Try looking for a coin which offers something new. And if you can read code its even better. You can pick out the pumpanddump clones and the longterm projects  ;) Lets just say one does not change/transform the code for a quick profit  ;)

But then again... Im in the same boat as you.. Been away for a while, and when I came back everything was really ripped to shit so to speak  :D Its hard to find a decent coin these days

Nowadays it is very hard to make money from the altcoins trading. As you can see, even the price of Bitcoin is decreasing a lot. The altcoins are following it. For example, some new coins, most anticipated NEM (https://poloniex.com/exchange#btc_xem), the price is down from moren than 100 satoshi at its launching to 53 satoshi now.  And Monero is falling in the downtrend as well. So if you want to earn a quick profit, it is the wrong time.

If you want to be safe.  Pick the projects that got millions in funding.

For NEM, I think 100 satoshi price wasnt high. However, even if you think its expensive ,now its cheap.

Yes, NEM can go down a little bit , but then? With comparing DOGE, I think NEM can go back easily to 100-120 satoshis.  

Not an investment advice. Just my opinions.

And what do you think about Stellar? I see the price is not dropping at all since the start..

I'd rather take a look at Maidsafe than Stellar right now.

My personal picks:

[DOGED] DogeCoin Dark - Electrum wallet on the way
https://bittrex.com/Market/?MarketName=BTC-DOGED

[BCN] ByteCoin - GUI wallet and tons of other features on the way
https://hitbtc.com/terminal/BCNBTC

[NEOS] NeosCoin - Dedicated dev, a wallet like no other coin, continuous progress and undervalued right now
https://www.bittrex.com/Market/?MarketName=BTC-NEOS

If you are after a pump and dump I would take a look at CYP.

Those are all junk.

Mintcoin is a good option. It mints new coins in your wallet just for holding them. Price is low because the current annual rate is high at 15% but it is dropping down to 5% after next year sometime. Good rate of return.

You seriously need to re-look at NEOS.

Lol...  .59 BTC daily volume.  https://bittrex.com/Market/Index?MarketName=BTC-NEOS

Less volume at Polo...  Are you fucking kidding me?  NEOS is a joke.

So...    the reason for you to call it a crap coin is because it has low volume? You gotta be kidding me.

Yup.  Because it means no one is interested in buying it.  Now why is that?  Maybe the team behind it sucks who knows...  There's no marketing for the coin, no merchants.. Maybe there is, but it's not making a dent in the already saturated altcoin market.  What about funding?  How many months more do they have until they burn all their money? And who are the devs behind this coin? 

These questions have been answered several times in their official thread, you need to just find the time to read.

The developer goes by the name 'syntaks' who is always up on IRC and Twitter and is happy to answer whatever you throw at him. Just get 15 minutes to chat with him and you'll know.

I think the price of altcoin is more volatile than Bitcoin. Whether you can make a quick profit is depending on you luck, especially for the day traders. 

k

Most of my profit from alt-trading was down to luck and good timing. Buy 'em up when they're worth a few satoshis then sell before the inevitable dump ;)