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2961  Other / Beginners & Help / Re: Alt-Coins on: May 16, 2013, 09:18:16 PM
Almost all of the alt-coins are there are going to be a waste of time.  They're being created to take advantage of people who get super excited about different things and then get pumped and dumped.

Be careful about wasting time with too many alt coins.

tysat, if you believe they are pump and dumps, seriously who do you think is behind it?  mtgox?  the btc elites?  honestly, if someone is pumping and dumping in an organised way, as a means of screwing new investors then the entire alt community should hunt them down

How about starting with /Fontase on twitter.
Small cryptocoins are routinely manipulated. There's no denying that. Just spend a little time on trollbox, which is the epicenter.
2962  Other / Beginners & Help / Re: Beginner's guide for trading crypto ? on: May 16, 2013, 09:12:32 PM
+1 the buy and hold strategy. Buy the major drops (i/e 10% or more) and then hold for as long as you dare.

Especially with the smaller currencies, where there may only be 100's of BTC in buy orders, a single miner with a stash can really drive prices down or put a quick end to a rally.   There are also groups of traders who will (individually or together) over time accumulate a large position in a minor currency, then announce a plan to "pump" the currency at a specific time a few days in advance.  This may generate interest in the currency, and while people are accumulating coin ahead of the pump, they will slowly liquidate their position.   There are various strategies on this and ways to play it.

You really need to be careful, because cryptocoins are not like stock or mainstream currency. It's the wild west right now and they are routinely manipulated by miners and traders.
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