Hopefully it doesn't bounce before I get off work... I want to jump in for the bounce.
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Yes... Keep holding while the whales keep dumping lol.
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What the exchanges need to do is make BTC-LTC transactions commission free.. they we can effectively use LTC to switch between exchanges and have far fewer fees. This is what I suggested to poloniex. They won't do it, but until they do I'm not going to do a lot of moving stuff around between exchanges.
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Getting a stake of NEM and cashing out 75% of it and withdrawing it into fiat starting at $1B market cap to about $2.5B market cap.
Aside from that I've had a few multi bagger altcoins.. Xtrabytes, Ark... I missed most of the boat by not selling my NEM and reinvesting it in altcoins the instant it hit $2B. Hindsight is always 20/20... looking back it's still a bit fuzzy.. speak of mutually assured destruction.. nice story, tell it to reader's digest. That and I didn't and still don't fully trust the exchanges, except for coinbase, but I trust them more now.
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I sold all mine @ 2760. When should I try to catch the falling knife?
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I sold all by BTC and LTC on my GDAX and Gemini accounts earlier today after I saw a potential technical breakdown. Got a good enough price on the BTC but did lose $2K on the LTC I bought yesterday. :p While I was contemplating how we've gone from a 10 billion to 120 billion dollar market cap in a couple of months, I came to realize how silly it was to be so into the cryptos and looked at the risk vs reward ratio, so I took about 66% off the table earlier today.
I could try to put it all into BTC for a technical bounce but GDAX is extremely laggy. Has the bubble burst? Just a temporary selloff? Ignoring my emotions and looking at a long term technical chart, we have a serious gap to fill. I might be wrong, but I'll take my chances. I'd sell my alts but bitcoin is already down a couple hundred and I don't want to take everything off the table, in case I'm wrong. I still did very well.
Time to concentrate my core holdings into the altcoins I truly think have the best tech: NEM, Xtrabytes, Pascal... with an honorable mention to Bitbay, Ark, NXT, Ardor because they are cheap. If they were expensive I'd sell them as well. Actually I don't hold any NXT or Ardor.
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Too long a time frame to speculate
I'll say...
NEM BTC ETH LTC
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Shit.. I go for a jog, come back and it's gone up $3 and made me $3000. That was fast. New all time high. Smooth sailing to $40+ The trend is your friend. Technically we did have a spike to above $38 back on May 10th so I suppose that's the level we test and try to break above. It's nice that GDAX doesn't charge you any commission if you are a maker. That's pretty freaken sweet. No surprise there are so many bots there.
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There's been steady accumulation into the sell walls on GDAX. I think I'll take my own advice and pick some up. Just a hunch, and looking at the technicals.
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Bitsend is doing well today. Nice move for me on that one. The rest are doing rather mediocre. (Xtrabytes, Pascalcoin, VIA, Blackcoin, Shift, Bitbay, NEM, Ark) All these bring something useful to the table and have active developers though. I try to buy the tech if I can, and not just pump ones that are completely dead. Moves up go in phases after the whales accumulate so I'm not worried. There's a whale here that owns a lot of VIA, so aside from I already owned it when I found this out, that makes me feel fuzzy inside.
I have this gut feeling LTC is going to shoot up to a $3B market cap in the next 7 days. I should probably buy some since I have cash laying around in the GDAX account. People are too bearish on it, so that's when I usually buy (note to self, take my own advice)
I see future potential in Ardor, if they don't milk the child chain thing by issuing ICOs for each one that comes out. I didn't buy NXT at $80M like I was supposed too. Sigh.
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These replies are kind of silly. The charts say this is going to at least test the all time high. The only way it doesn't is if the whole bubble bursts. I would be careful listening to advice on here, including from me. Nobody is right 100% of the time and a lot of people have an agenda. My advice.. buy when everybody hates it, sell when everyone loves it. I would not be buying ETC over LTC at this point. LTC was the second. It will get respect like bitcoin, especially with the recent developments with lightning network, segwit, etc.
There's a good chance this displaces ETC and NEM to take the number 4 spot in the next 7 days. (even though NEM is better :p) I don't know what ETC brings to the table to sport it's spot other than being a fork of ETH.
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The bitcoin purists are incredibly short sighted. Ethereum will likely knock bitcoin out of the number one spot within a month or two. If NEM gets their Mijin/Catapult rolling, bitcoin won't hold a candle in raw transactions per second and transaction fees. This bitcoin superiority complex and overconfidence could be bitcoin's undoing in time. Other coins are quickly trying to develop the tech to bring the scalability and services businesses need to reality. Innovation and change are a constant in life. Adapt or die.
I respect bitcoin, I hold a bunch of bitcoin, but the fact of the matter is that these altcoins are not just some scams with inferior code that will never amount to anything. (well, maybe 95% of them are, leaving about 30-40 good projects out of the 700+ coins out there)
Altcoin purists are shortsighted because BTC is still the golden key. Without a rise in the price of bitcoin, your precious altcoins wouldn't be going anywhere. Both feed into each other. Until exchanges can trade any currency with any currency directly, BTC will remain the golden key. You only pay a transaction fee when you have to move money around from exchange to exchange anyways. Bitcoin is not going to be widely adopted by any business at this point with the fees though.. if we want cryptos to be used to pay for say an ebay auction or used at amazon, we'll have to come up with a solution that has much faster confirmation times with much lower fees.
It's in everyone's best interest to get to that outcome. (Hurry up NEM with that mijin)
Also, I believe proof of work is going to fall by the wayside eventually. The coin on top in 3 years won't be proof of work based, or at least not 100% proof of work, that's my prediction. A blend of the two where the proof of stake has the fast block times seems to work nicely. If we could have blockchain trim technology which Pascal is promising, that would be really big. Child chains have promise, but to me seem like more of a gimmick to just have more coin ICOs at this point.
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Something will give eventually. No large businesses are going to start to transact in a currency with 30+ minute confirmation times and multi-dollar fees. The free market will make a replacement in due time. NEM with Mijin/Catapult would be a good one.
The bigger they are, the longer it will take for them to fall, but make no mistake, they WILL fall in time. The free market naturally corrects market imbalances in time. For now, the miners can enjoy their profits.
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I have enough for a static and will hold as I keep my portfolio diversified. Get that static chain going, retire the old chain, and get it on bittrex, and it will gain more credibility. It's definitely useful in some applications but don't think it will necessarily be the next big thing... Pascalcoin which has block chain trimming would be once the tech matures. Being able to keep the chain size around 6GB like they promise would be huge. Combine that with child chains and you've got something scalable. Both promising coins with unique features though, especially at their respective market caps. I just wonder if requiring every node to verify would make it less scalable... Maybe it would be more scalable. The coin that can make the fastest confirmations will be the next big thing... I'm talking it showing up in your poloniex account under 60 seconds after sending.
In any case I'll keep holding as I try to find coins that have unique tech of any sort. The dev is pretty straight up too. Good guy... And the main programmer is very talented.
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https://medium.com/the-qchain-blog/introduction-to-qchain-and-a-peak-at-our-user-interface-861280335becQchain is an application being built on the Ethereum and NEM blockchains that will facilitate transactions between advertisers and content publishers, mediated and arbitrated by hosts. It is a three-agent system that will offer economic benefits and incentives for all parties. And Why Are We Developing For Two Blockchains? We are convinced that Ethereum and NEM are the two most promising blockchain technologies for enterprise in development right now, both for their tech visions and robust developer communities. They have different strengths and focuses: Decentralized smart contracts are currently a bit easier to develop on Ethereum, while NEM offers the Proof-of-importance (POI) algorithm and the Eigentrust++ reputation system to encourage transactions. We believe that giving our users choice and flexibility can only benefit them, as they can opt for the blockchain that best suits their needs.
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Nice article. It can be painful to wait when watching other altcoins go parabolic during the same time frame. I get the hunch NEM will move soon... They tend to move when you least expect and when everyone starts to lose patience. It is the best tech but we are in a bubble and I want to maximize returns before it pops. We have maybe a month or two in my opinion. I hope I'm wrong.
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So we have some agreement on slack about dropping "coin" from the name and simply calling it Pascal. We should get rolling on that. I still like Pask more. . Pasa would be a fine name, too.
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Bitbay, blackcoin, VIA, pascalcoin, shift are all good coins that are still cheap. These will double or more.
ARK will double yet and get to $200M.
Xtrabytes will when they get their static chain running and get listed on bittrex... Until then accumulate or not.
NEM might be getting ready for a rise... I'm seeing signs....
NXT and ardor just pumped and I missed my chance to buy yesterday. Good luck to the longs there.
Bitsend is one of the few sub $5m coins left with active developers.
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Blackcoin, VIA, and Pascal. All trade on poloniex. Bitbay and Ark trade on bittrex. Xtrabytes is yobit.
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