it sounds like you are trying so hard to convince yourself!
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NEO has some good potential of rising and i can see big pumps in its future but currently the market is not in a good state at all. there is a lot of dumps going on all over the market and all you can see is red so even if you wanted to invest in int long term and you truly believed in NEO, now is not a good time for doing it because prices will continue to go down.
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Bitcoin is for digital gold, and Ethereum is a smart contract platform.
this is WRONG on both accounts! bitcoin has nothing to do with gold and it is not even like it. bitcoin is a currency so if you want to call it anything you should call it something like "digital USD" or something like that. as for Ethereum, it is not the best smart contract platform it is just the most hyped up one. there are a lot of better platforms with higher security and less centralization.
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since OP didn't post the most important thing: the link to the news and in case you were wondering here it is on Coinbase blog: https://blog.coinbase.com/adding-ethereum-classic-support-to-coinbase-becb9a337e9cof course this is already a very old news (Jun 12) and the rise has also happened already on the same day where price went up about 30% (from $12.5 to $16+). it didn't create any kind of rally so i wouldn't get my hopes up now either. maybe by the time they actually start the market and finish up we can see the rally.
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the revenue from crypto-related businesses is potentially huge.
they don't give a shit about that revenue. Facebook is making the same amount of money with or without crypto related ads on their platform. and i believe the reason why they changed their policy is because of the social pressure that was put on them after they banned them. but if they really unbanned everything apart from ICO ads then i thing it is a good thing.
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that is why everyone keeps on saying that you should not even be using "market capitalization" for cryptocurrencies. that is what you use for companies and it is used here by mistake.
you are pointing out a great flaw in Market Capitalization when used for cryptocurrencies and that is the fact that for a company you can not create shares out of thin air so your MC will be reasonable and real but for a coin/token you can easily create billions of coins (like shares) by click of a button and they don't even have to be in circulation and your coin's MC will be fake
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if you don't like pump and dumps then don't participate in them! it is like putting your hand in the fire and then complaining why your hand got burnt!
when you enter altcoin market then you also have to accept the fact that there is a lot of pump and dumps going on because of many reasons including the small size of the market which makes it easy to manipulate. this market is considered high risk. so if you can't accept it then stay away.
but if you can then really accept it and try to use that pump and dump for your own profit. meaning buy while the pumps are happening and sell fast the problem that all newbies are facing is holding too long instead of selling.
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hopefully they don't just lift the ban. hopefully they also add some sort of extreme filtering method to prevent the mess that was going on before they banned them. they need to disallow most of ICO advertisement and all of the scam ads pointing to fake wallets and viruses. otherwise in a couple of months we will be back where we started and they have to ban them again.
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i just use litecoin for "ping-pong" (short term). idk its technology take a moment take profit then leave i am all for the short term profit taking when it comes to altcoins but i am not so sure about "ping pong" strategy. it just looks terrible to me! based on what i have seen from this strategy it looks more like a gamble rather than being an actual trading strategy. not to mention that if price suddenly moves in one direction (opposite of you) you will lose money.
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don't be a fool there is no "big money" coming in the altcoin market. it is barely coming in bitcoin let alone the altcoins !!!
what happens is that from time to time we have a surge of newbies which amass to a large amount of money that is pumped into different altcoins and also we have the pumping whales who focus on certain coins.
what you see now has nothing to do with media. it is a nature course of dumping that is happening because of the pumps last year.
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more social drama to cause community to ruin bitcoin security by changing the mining algo... (facepalm)
apart from the security risks, changing the algorithm (based on the proposals that i have seen so far) will not solve anything at all. it will not even change anything or even put a dent in the power that companies such as bitmain has! the only thing that it does is to fuck with bitcoin, its price and any small or new business (like the Japanese Internet Giants) that have just entered ASIC manufacturing because bitmain has already made their profit and if the change happens they simply start creating new ASICs and make a lot more profit than before because they start selling more since the old ASICs would be obsolete and miners have to buy new ASICs. so in the end that change will just make bitmain bigger.
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he doesn't really "scold" bitcoin though! the interviewers usually ask him about bitcoin out of nowhere and force him to give his opinion and he says it. then the media reports the negative parts and puts them under magnifying glass so that it looks like it. for instance he never called bitcoin a "rat poison"!!! the interviewer told him someone called bitcoin a "rat poison" a couple of years ago and then Warren made a joke about it. then the media said Warren Buffet has called bitcoin a "rat poison".
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i am only certain about one thing: you should have dumped your altcoins a long time ago and if you haven't already you should get right on it without wasting any time. sell them and get out before losing more money than you have already lost.
but moving to bitcoin at this point may not also be the best thing. i am actually expecting a rise in the following weeks but i would never suggest it because it is still risky and may not happen. at this point i think moving to fiat but keeping the fiat on exchanges to buy bitcoin as soon as the rise started is the best solution.
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first dump it then buy it back.
that is a fool proof strategy for new coins and ICO tokens. the first step is always a dumping step where prices go down drastically because everyone is dumping fast. but just like any other fast price change there will be correction follow-up where you can buy at the bottom and then sell again after the recovery and make another profit.
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it has nothing to do with your preference! it is all about the design of the system.
unfortunately because of the false advertisement that Ethereum had in the past years people don't even know what it is!!! Ethereum is a platform which is designed to be used for smart contracts. one of the usage of smart contracts is in ICOs. this platform has a token called ETH which is used to make these smart contracts/ICOs, if you use another coin instead of that token you are not using that platform properly!
it would be like putting something else in your car instead of gas. it may still run but that would be wrong!
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ethereum is one of those projects that got big only because of hype and nothing else. and we have seen this at least 5 other times with a dozen different altcoins which come out yearly, get hyped up, get pumped, then eventually since hype always go away they get dumped and destroyed.
in case of ETH, it is huge and it has a certain centralization about it which keeps it alive for now so its demise will be slow.
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I hate my life so much right now xD Who else bought on ATH? Firstly which coin did you buy at ATH, if it's a solid Project ico no cause for alarm, because it will surely get and surpass it's all time high, but if it's a pump and dump coin just cut your lose and move on, and never forget Warren Buffet, buy when they are panicking and sell when they are fomoing all the altcoins (specially the top 20) coins are pump and dump coins and if you have bought them in their ATH then you should have sold them already a long time ago and every minute that passes you lose more and more. also even if you bought bitcoin at its ATH (doesn't get any more solid than BTC) you should have sold it because it was a mistake to buy at $20k and holding it. the trick is you sell bitcoin and buy it back after the drop was done. it can be repeated multiple times it doesn't have to be one time. so that you hold more bitcoin at the end of this.
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i dislike a couple of things about your method although i use it too. 1. using third party websites instead of exchanges. i prefer using the exchange themselves because the volume there is more accurate than looking at the total volume of many exchanges that those sites list. 2. you are not looking at the price! for example trading volume of a coin that is getting dumped hard is also huge but that doesn't make it a good investment! it is only good if a large volume of money is coming in and price is rising. 3. using market cap! that doesn't make any sense. specially when you define a number for it. calling them small coins is better than defining a fixed number for their market cap.
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what conditions are those? the conditions that have been around for nearly 9 years and you just faced them for the first time? the very common altcoin pump and dumps that has always disturbed the whole market?
you see most of the newcomers came in, saw the shinny altcoins and their false promises of riches and thought they will become millionaires they bought useless tokens like XRP and then they finally faced the reality when the dumps by the whales came.
blaming them, blaming Tether, blaming exchanges, wanting regulations,... may have some truth to it but they are not the whole truth.
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WRONG
first of all bitcoin is already a currency and it will be in the future. it just has more adoption in the future. and the reason has nothing t odo with people investing in bitcoin. it is all about the fact that bitcoin is the only currency that is decentralized, censorship resistant, boarderless, with a good privacy, cheap, fast and secure out there. and it is strong and surviving because of these factors not because some idiots invest in it. the investors come and go as the wind.
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