Oh ouch. All the best with getting that problem fixed ASAP. Will the fix result in another mandatory wallet update?

The most recent update was very smooth. Thank you very much for keeping it simple.

The Alcurex market seems to have dried up, and SafeCex is basically offline (or at least a lot of its wallets are offline) for the foreseeable future. Vircurex is no longer taking deposits. Are there any other exchanges that carry Devcoin?

How much longer will BitTrex be in DMD wallet maintenance mode? It's been at least a day or two now, hasn't it?

edit: back up now

I'm still on the old wallet. My wallet hasn't minted since 5/7. I'm not worried, but wondering if the new wallet is affecting the old one's ability to mint. I will update to new as soon as it's released.

Oh well, and here I was hoping to get some lessons on profitable market manipulation... LOL. Seriously, though, I'm kind of glad the bots aren't run by anyone in the community (or at least not by anyone who will admit to it). I think it's great to pick up DMD (or any coin) on sale regardless of the reason, but trying to actually manipulate the market does seem a bit underhanded. Not only that, I bet people lose as much money doing it as they win. Some kind of high stakes game. Honestly buying and selling strikes me as fun enough. If the coin is good, then any price below normal market value is a bargain.

So are you the one with the bot on BitTrex? If so, I'd love to understand more how it works. I suppose you drive the price down to the point where other people start selling out of panic, and then you buy *their* dumps?

I'll probably be content buying *your* dumps and trying to get in before everyone else does... because I'm not that great at calling the bottom (or the top). But it sure would be interesting to know how it works...

If you spend maybe 15 minutes watching the order book while the bot is working it becomes pretty obvious which orders are the bot's--or at least which orders form the bot's first layer. Then you can pick it all up and very easily push the price back up substantially. That happened just a few minutes ago, but it wasn't all my doing. I think some others picked up DMD between .00053 and .00065.

I caught a few at that price. Price is back up to .00064 but it looks like the bot is back, so maybe it will go lower tomorrow if no one bites today

Edit: I should add that .00064 is still an awesome buy price!

I've watched the DMD order book for the past hour (I'm temporarily on bed rest so have the time LOL), and there's definitely some sort of bot that's been gradually lowering the ask price. I finally picked up everything the bot owner was throwing at it for the time being, so the ask price has for the time being stopped coming down. I suspect that later on he or she will throw more DMD at it, and it seems the goal is to bring the price down as much as possible without selling too much. Someone here was bragging that they could get the price all the way down to .0001, so I suspect it's that person's work. In other words, the current price is artificially low. It's anyone's guess how long it will last--maybe until 10K DMD gets dumped? BIG buying opportunity. For those who are lucky enough to be watching it with BTC on hand when the price hits whatever low it's going to hit, it will be a jackpot. But I suspect the low won't last more than an hour at most as it would be too good to pass up.

Well, the price of DMD tends to jump around a little. If you buy every week, you get prices anywhere from .00075 to .00095. If you're willing to wait on a limit buy, you shouldn't have to spend the higher amount.

Are you saying this correction made it into the receiver files but is not shown on DVC Countdown?

Thanks for taking care of that

Those are good fundamentals to look for. The one disadvantage, of course, is that some of them mean you have to watch and wait for a while, meaning you can't be a super early adopter. However, that's not as much a problem as I would have thought two years ago. All coins have their ups and downs pricewise even long after the presence of those fundamentals is determined, so there are always good buy-in opportunities for the patient

I will take these coins along with other ones mentioned and add them to a list to research at my earliest convenience, so thanks. And no, I wouldn't dream of blaming you if I decided to invest in one or more and it went sour--that's my responsibility.

One I happened to notice yesterday is Creditbit. Does anyone have an opinion about that one? Nice website and 8% minting rate, but that's all I know at this point.

watching...

I found the Staysibit interface a bit confusing when I first looked at it, so haven't been too interested in using it. The honest truth, though, is that I don't need a service like that to stake my DMD. The QT wallet you designed works so well that I don't mind running it. It's all those *other* minting coins whose wallets are more buggy that I feel better leaving it to the professionals to mint them on my behalf

Great post, RJF, with some great advice! I am finding that more and more, building true wealth in the cryptospace is not too much different than the old fashioned way: slowly, gradually, methodically.

I would love to see the list of coins you invest in. I have about three that I'm fairly actively accumulating and a few others that I play with or use in some way but am not trying to accumulate. I would like to know about some more good ones to buy and hold for the sake of improved diversity. I've noticed a bunch of new ones are coming on the scene but haven't had any time to research them adequately. I try to stay away from the P&D coins, but sometimes you do find yourself sitting on one unintentionally.

What I've found great about Cryptos is that I found a way to learn a lot about how various investing vehicles such as trade exchanges and stocks and even lending sites and so forth actually work because the cryptospace allows you to play with those things in small amounts and with low fees. For example, in the fiat world, the lowest I've seen for buying or selling stocks is $6.95 on discount sites such as Scott Trade. That's fine if you're buying several thousand dollars worth of stock, but it's a major bite if you're only able to spend $50. But with Crypto, trade fees are generally around 0.2% no matter how large or small, so it's workable. That's probably been the biggest benefit for me. I consider myself to be priced out of most fiat investments because putting in the minimal amounts is just too much of a risk for me at this point. But it's no problem for me to experiment with $10 or $20 worth of cryptos at a time and I can afford to lose that (and often do!). Plus I don't buy my cryptos using family money; I earn them in various ways and that's my play money.

I find it always helps to relate the various alt-coins I own back to their value in USD. This gives me a more realistic view of the actual value of my stash in terms of something that can actually buy me the things I need and want. Like RJF said, a coin that's worth only a few satoshis isn't going to be worth much to you even if you own several million of them. In fact, there is one low value coin I earn and regularly sell by the millions. At first it felt kind of weird going through millions of them in such a short time, but now it's just very normal. I guess that's probably not too far off from how people living in a place like Zimbabwe (where the currency is severely devalued) feel about spending hundreds of thousands on fairly small items. From the speculating point of view, of course, you hope to find the magic coin where you can buy and hold several million of them and while you still have them their value goes up to a dollar or more per coin and voila, instant millionaire. I think that is going to be pretty rare, though, and it's not going to happen with just any coin. I could see it happening with DNotes because of all the surrounding infrastructure, but it may take ten or fifteen years to get there. That is way more long term than most people in the cryptospace are willing to consider. To really make it in this world, you have to get out of speculating mode and invest in coins that have good fundamentals and then you have to keep track of what they're doing and how they're building value and so forth. Otherwise you could end up with something that has been abandoned or plain has lost its fundamental value (in which case you want to sell before everyone else figures it out). You have to be willing to unload those assets and not cry over what you lost from them on paper. But you also have to be willing to in a sense earn your cryptos. Do honest work in exchange for them, or outright buy them using fiat that you've earned and set aside for that purpose. As many people have observed, the over emphasis on speculation tends to hurt everyone, but the steady accumulation through honest work and a bit of smart trading and investing... well, there are probably way more opportunities here than in the fiat world, at least for those who aren't already wealthy, to make out really well that way.

Not too long ago I was catching up with an old friend I'd met back when I was more heavily involved in promoting the use of silver as a currency. He was still very much into silver as the best form of money and very skeptical about cryptocurrencies, but I told him some of my experiences anyway. He made this interesting comment to me: "The way you approach it is vastly different from the way every other person I've talked to about it has approached it. For you, it's all about value. You do some work for someone; they pay you in some kind of digital coin. Then you trade that coin into something else or keep it or cash it out. But you bring your value and basically exchange it for an equivalent value and then try to make that value grow." I got the impression that most of the people he'd talked to saw the whole thing as a speculation train or get rich quick opportunity. I guess I never saw it that way, which probably explains why I find some of what's said about Bitcoin, etc. to be totally incomprehensible. My involvement with crypto is a bit of a combination between a fun hobby that happens to at least fund itself and a part time job that doesn't yet pay commensurate with the time I put into it. But I do believe my involvement will pay off fairly well in the future, so in a sense it's also an investment, but not of the speculative type. At the very least it's extremely cheap tuition for the school of financial literacy.

LOL... it comes with the territory. Great to see a trend towards more solid ventures. I've noticed it too. I would say that there are more solid investments today than there were a year ago. I've been lucky to find some of them. I have a reasonable hope that given another few years, I and my family will be faring pretty well from my crypto-involvements. The struggles and losses are part of the journey, I think, and this time around they've actually been minimal. I'm learning to spot the warning signs and act much earlier than when I was a newbie

This week in crypto has been a rough one for me. I wrote about it here: http://creativecurrencies.cu.cc/2016/04/08/a-rough-crypto-week/

My real point in sharing it, though, is I wanted to make another shout-out to the DNotes team for standing out in the area of stability. When services or coins I like suddenly close down or make sudden changes that leave me scrambling, it really helps me to appreciate the value of coins which are actually built to last and have solid principles underlying them from the beginning.

Good job, everyone! It won't be long before all your hard work will be richly rewarded

I was kind of wondering about the price spike myself. I was busy when it happened so failed to take meaningful advantage of it, but truly wasn't interested in unloading all my coins. I'm a long term investor and only sell off my minting proceeds from time to time.

On a sad note, Coinwallet.co is closing. They had a security breach of some sort which was not successful in actually stealing any coins, but they made the assessment that the expense and risk of security was simply too much for them. I'm sad about that, as I was staking all kinds of coins there, not just PIGGY. They are giving everyone until May 1 to withdraw coins. If you have any coins there, be sure to withdraw them. I've had no problem with that but they do warn that if lots of withdrawal requests are happening all at once there may be some delayed processing times. They are also inviting anyone who might want to take over the site to contact them

I really do hope someone invents a game that pays out in PIGGY. Something fun, sophisticated, and educational. I personally enjoy those farming type games that are starting to proliferate and pay out in satoshis.

I saw this and was quite disappointed as it was a really nice service. I am in the process of moving my coins out.

They are open to someone taking it over. I'd love it if someone from this community who has the technical expertise would take it on. Pooled minting is such a valuable service, especially for those coins that need a large amount, such as Neucoin. It's also nice to mint coins without having to be running a wallet all the time (or even turning it on a few times a month). But apparently you have to be seriously on top of all the hackers trying to break into your site in order to take this on.