Bitcoin Forum

what is going on? is everyone on vacation or something?

stuff just keeps dropping more and more, in generally my portfolio is down like ~60% since last month

Volume is less than half it was 2 months ago.

whales are on vacation spending scammed btc

damn that is exactly how it looks like

Maybe everybody is either spending their time and money on summer holidays, or desperately short of cash after they get back home.

hrmm everything is possible i guess, maybe next month will be better

Welcome to my old world...namely, penny stock speculation.

The gold-exploration penny stock I ended up making the most $ with, went absolutely nowhere for a year after I first bought in. (March of '09.) If I wanted to, I could have examined their books like a venture capitalist, got a complete tour of the abandoned mine they planned to (and did) open, looked at all their rock samples, blew a thousand bucks on bar bills to entertain their geologists, and after all that due-diligence work I could have bought more at the same price.

Actually, I did buy more over the course of that year. At the end, I was all-in.

True, it was a boring wait and I did have to find something else to do with myself while I cooled my jets. But when the wait was over, I walked out with a double and could have gotten a quadruple if I had been disciplined enough to stick to my original plan.

The above vignette might not help, but it does indicate the environment where a guy like me ends up thriving.

It's made easier by taking these two rules to heart:
1) "I'll end up being compensated for being bored and depressed";
2) "The boring wait time is easier if I find something to occupy myself."

Case in point: Reddcoin. I bought some in the second stage of the IPCO, bought more at 8 satoshis, bought some more at 5 and was aching to buy even more. During the long slow grind, I clubbed around here but I also poked through some source code while I was cooling my heels. RDD took the longest time to wake up, but wake up it did.

Bitcoin isnt making any more news of people making money with it so there is less new fiat in crypto. Alts get even less attention as they are only used to gamble on to increase your btc holdings.

IMO only coins that actually solve some issues will be worth. So far even BTC didnt solve any major issue so entire scene looks quite grin at the moment.

But it could be summer time is influencing too, old saying says Sell in May and go away.

There's at least 300+ alternates to Bitcoin right now and almost all of them are gambles (or scams) to increase your BTC holdings.  The honest few are so small in capitalization that they receive little attention.

It'll be years until we find out whether any alternates can rival or surpass Bitcoin.

The prospect for alternates seem largely dependent on Bitcoin.  Like if crypto currencies hit $1 trillion someday

 (investment gold is $2 trillion, $37 trillion investments worldwide, $400 trillion derivative bubble, dot com in late 1990s was $7 trillion)

 then the good few alternates might have $1 - $50 billion each, while King Bitcoin has $750 billion capitalization.

Wrong investments will do that. Have relatively safe investments like BTC.

nice keep em coming the opinions i like to see what everyone thinks

this!

it's summertime, markets slows down

I think everyone is realizing that every alt coin is/was pumped by organized groups. Once the organizers finish their pumping volume starts to dry up price starts to stagnate and everyone begins to slowly sell off. Look @ the volume on DRK, that should tell you everything.

You do realize that every bitcoin bubble or bull run in the past was because of a trading bot buying bitcoin with fake/nonexistent cash on mtgox.....

Truth be told, if there was no bot buying up bit coins illegally, then the price of one bitcoin would be less than $1 by now.

Bitcoin will never see anything above a 20 billion dollar marketplace cap. That's for sure, in fact,  some alt coins  have more of a chance of surpassing bitcoin quite easily and truly have a high market cap, in the trillions.

Too many coins, BTC spread too thin, a downward trend because it's harder and harder to make a dishonest buck pumping and dumping crapcoins.

The alt crypto scene is dying a slow death.

Too many coins. Too many scams. Too many pump&dumps.

The end result:    People lose money and leave. Never to return. Less and less btc invested.

Personally, I just sit on my btc and a few altcoins waiting for better times. Does not pay to invest in a failing market.

Summer + a handful of actually good coins in a sea of hundreds of scam coins.

Are you sure that you picked quality? Is there a game-changer - a catalyst - for the coins you're bagholding that gives you confidence in those coins' future?

I have one - one that I'm riding a greater than 90% loss on - and the catalyst in its case was a community takeover to eliminate a controversial premine and the controversial dev who seems to have vanished.

I sized up the community members beforehand, and felt confident that they could maintain the coin and build its ecosystem over the long term. I also watched its price and saw it slowly shake off its lows. Even though it's well above its bottom now, it's still way way below the price at which I bought in.

I had 0.5 BTC to spare, which I sent up to Bittrex earlier today. With it, I placed a big bid at a close-to-ask price. Not right at the ask, but well above the then-high bid.

That 0.5 BTC was one-sixth of the amount I had originally sunk in. If my whole bid goes through at my price - which I had to up by a teeny bit because at least one other got the same idea - I'll end up with 2.75 times my original stake. 1/6th the BTC for 1.75 X the coins: doing the math will show how much I'm down as of now.

But, as I said, I'm confident that this coin is going to turn around. The general lull, as well as the general cloud this coin is still under, have combined to give me a chance to add to my stake at a much cheaper price. In stock-market lingo, I'm "averaging down."

Just a warning: Although I've had some prior luck with averaging down, it's well known to be a perilous and risky maneuver. It's also known as "throwing good money after bad." Had I done so with Juggalo Coin - there was a time I was tempted to do so - I would have been entirely wasting the BTC. Thankfully, I refrained from buying more Jugglao Coin because there wasn't any catalyst. The dev had deserted and there was no community takeover to look over. No catalyst, no throwing any good BTC after bad.

If I were in your shoes, I'd be thinking that I have a real judgment call ahead of me. Which coins in my bagholding bag are a write-off, which have potential but are kinda iffy, and which have a solid catalyst that rates averaging down through buying more and lowering the cost basis?

One thing about speculation: if you go bargain hunting, you have to be awfully choosy.

Now, I know I'm not you - I know I can't even play you all that well on the Internet  :) - but if you don't mind a little more nattering, I suggest that it's time to give your portfolio a serious look-over with an eye to pruning. Sorry about your losses, but there is a time for salvage too. Some BTC is better than none.  :)     

[FACT] End of month dumping.. (https://bitcointalk.org/index.php?topic=710859.0)

80% of players were whiped out by scams and left the scene. In the end the only survivors in here will be like 20 paranoids who then own all the non-scamcoins  :D

Yes, or - gasp! - the 20 or so who came here to learn something and build the future.

this post pretty much says it all!  ;D

who can afford to keep risking it all in a down market?

A bitcoin pump to 1.3k or more would bring lots of new money in altcoins.

Just to give you an update, the coin I mentioned above is Quebecoin. It was launched at the tail end of the airdrop country/nation coin fad, turned out to have a dev who was in over his head, and was taken over by a solid new team of community members - all Quebecois francophones, thankfully.

The odd thing about my bid - now is the first time I've experienced this - is that it seems to have kickstarted a kind of foot race that's upped both the bids and the asks. I've actually had to raise my bid by small amounts several times. When I stopped foot-racing, hoping that the climb would cool off, it didn't - not enough for the price to sink back to my bid. So I went back to raising my bid, with smaller volume to go with the higher bid price. Currently, I have the high bid at 803 - up from my starting bid at 700 - and most of my BTC @ Bittrex is still BTC.

https://bittrex.com/Market/Index?MarketName=BTC-QBC

[Oh hell -the high bid is now 999 with a substantial bid at 900. You'll see a fuller update here: https://bitcointalk.org/index.php?topic=708702.msg8106986#msg8106986 ]


EDIT/UPDATE: Pulled back to 900, I waited at 805, then it turned around and headed above 1000 again. I just upped my bid to 1100 and the low ask for QBC is now 1200. My fault for being a blabbermouth, I guess...

i noticed they have pumped keycoin to x10, here your answer they are there, they usually pump at least one coin

There's always been a pump of a month.  It's an organized group with huge capital which attracts in the lemmings and the lemmings tend to get destroyed in the process.  Much like in the stock market a lot of alternates can be rigged nowadays with insider trading and bots that can perform transactions within milliseconds of a price update - a human daytrader has no chance, intuition cannot beat machine.

Of course the whine threads will continue forever until  the alternate section gets shut down.

A lot of people compare alternates with gambling but that's only IF you don't do your homework.   It might be a 10x to 1000x return but there's many promising upcoming coins where, if you invest in the beginning and are willing to hold for months / years, you're going to make money on it..  definitely more ROI % then you can get off real estate or regular stocks on the stock market.