Thanks, I try to educate newcomers to this game. In these new and unregulated markets any investment is basically a "lottery ticket". If you invest $100 you just bought yourself a $100 ticket in the Crypto Lottery.

When people buy a ticket in a real world lottery and don't win they think "ah well better luck next time" That is because they can't exert any control over the drawing. The fact that in crypto you can sell, buy etc at any time, that (feeling of) control is what messes with your mind. Just let go, invest, decide an exit point and wait (hold) know but not fear that potentially you lost everything you just invested. That is key, do not fear, say to yourself "I bought this coin and I will hold until it reaches this price" if you see it going down think "ah well better luck next time" That is why you should never invest rent money, grocery shopping money, mortgage payment money etc because with every price fluctuation you either think "wow I can buy this and that" or "damn I can't pay the rent if this drop continues" lose the emotion in trading, really, let it go.

In Psychology we call this loss aversion.  There is a well written Wikipedia article on it http://en.wikipedia.org/wiki/Loss_aversion  (I could bore you with scientific papers but that wouldn't be fun)

Also be aware of the sunk cost fallacy http://en.wikipedia.org/wiki/Sunk_costs#Loss_aversion_and_the_sunk_cost_fallacy. Which basically says people keep chasing their investments even if the signs indicate the investment is flawed. In a normal market people should not be afraid to minimize their losses by selling at a loss if the signs are truly bad. But this is crypto take the risk to lose it all, it's all just beer money anyway right? you invested money you could lose so risk it. In crypto trading anything could happen, a coin may be down 80 % today and up 200% tomorrow.

Let me stress this again; in regular markets or in other aspects of life, don't be afraid to minimize your losses by selling at a loss if there is something fundamentally wrong with the equity you are invested in. Ths applies to stock market trading and even figuratively to education and relationships for example. In crypto trading however the sunk cost fallacy shouldn't apply.

Let me end with a quote from Band of Brothers by LTC Ronald Speirs ( http://en.wikipedia.org/wiki/Ronald_Speirs )

The only hope you have is to accept the fact that you're already dead. The sooner you accept that, the sooner you'll be able to function as a soldier is supposed to function: without mercy, without compassion, without remorse. All war depends upon it.

If you can see the relevance of this quote to crypto trading you will be succesful.

People who think a single person can bring down the price of a coin are really obtuse. Let me tell you what happens:

Stages of a coin by SpringfieldM1A

1. Coin gets an announcement, people chime in on the thread, some start mining, some start yelling scam.
2. Coin gets added to an exchange, trading below 100 satoshi. Some normal people buy, some whales accumulate tons of coins. Price rises a little
3. Dev posts positive announcement in thread, some people are ecstatic, a little more people start yelling "scam" and "proof", price shoots up
4. Coin is now starting to trade around 1000 satoshis, peaking at 1500.
5. Dev posts new update, price shoots up again due to whales pumping, more people buy
6. FUD storm starts, people discrediting the coin, whales pull off epic dump, price drops 30 % to 40 % people are afraid and sell their coins cheap.
7. Coin starts trading in lower 500 satoshi range, whales accumulate
8. Silence for some time, 10 days at maximum
9. Dev posts another update, confirming he was legit all the time, whales now pull off an epic pump
10. Make or break point, coin will either grow naturally without the "help" of whales or crash into oblivion due to competition or fundamental flaws.

Can you see what is happening? Whales capitalize on good or bad news, they feed on both your fear and bullish sentiments. This will continue until a coin has a large enough market cap where it will be a lot harder to influence the price by large pumps or dumps. But remember above all: if there isn't found a substantiated flaw in a coin's infrastructure there is no reason for the price to go down. Stop trading with emotion.

Whales look for any signs of fear sentiments in the market, they will dump hard and inexperienced people see the price go down and think "Oh my god the coin is crashing" and sell. This is exactly what happened to VOOT, a single user (inadvertedly) posts serious FUD ammo for whales to massively dump, but there is nothing wrong with VOOT ! It is one of the coins that actually delivered a working anon function.

It works both ways, if whales spot bullish sentiments they pump.

Sometimes you see a massive dump on good news, why is that you may ask? Well if the news is really good, whales see potential in a coin and they want to buy more for a cheaper price. They dump to initiate panic sells "Hey I thought the news was good? why is the price dropping? I'd better sell" is what new people think, then proceed to dump their coins right into the whales' buy order. This will make the rich richer and the poor lose their shirt. Advice: keep an eye on the rich list of a coin in times of percieved crisis, you will probably see the top 50 or so addresses accumulate, while the smaller holders lose coins.

PROTIPS:
Do not invest more than you can afford to lose. This will take out the emotional factor in trading at least a little bit.
Consider your money "lost" the moment you invest in a coin, don't get emotionally attached to your invested fiat ever.
Decide an exit price for yourself and stick to it, don't be too greedy.
Do not cry over losses, this is crypto. You will probably lose a lot before winning. A win can compensate for all your losses though and then some.
Do not cry if you sold "too soon", profit is profit.

Mannen, XC gaat de plaats van DRK innemen en nog meer dan dat. Heb nog even geduld
Ik speel ook nog met SUPER en VOOT op het moment maar dat is tijdelijk. XC zal uiteindelijk de anon race winnen.

+1 Just ignore anything that schizo farts out of his mouth.

I feel like I just witnessed something groundbreaking, devs + 1 for your outstanding work. I admit I was sceptical at first but you guys aced it.

Bittrex trading on VOOT is insane, panic buying lvl 9000 

John 20:29 

Brilliant logo Maximuss, top notch work.

A suggestion, but I think we need to lose the word "anonymous" it has a negative connotation in the "outside crypto world" I would suggest using the word "privacy" instead. As I always say; everybody needs privacy, only crooks need anonimity.

Maybe something along the lines of this: (just brainstorming)

Vootcoin - Privacy powered by Nitesend

 

That 50 btc buy order just minutes before the dev chimed in will haunt this coin forever
I put my trust into this but I should have known better.

My guess is dev 3 works for Google 

Where are the devs?
Where is mindfox?
Where are the updates on reassuring investors this whole FUD drama is being countered?

This short term thinking is what plagues the whole realm of cryptocurrencies. Who cares that another coin gets added on Mintpal? All the best to them.
People should stop thinking they will get rich overnight, solid and steady development wins the race.
I'd rather see VOOT delivering a good anon feature than see it rushed to an exchange and peaking shortly and then falling afterwards.

Remember, Mintpal is the whales playing ground. It's the ultimate test for the survivability of a coin. If it gets pumped without being fully matured development wise it will not survive long term (look what is happening to CRYPT for example)

I'd really like to see the caffeinated, gum chewing, wannabe Gecko types who are merely in for a quick buck go elsewhere.

You are a funny man and your intentions are obvious. You support Supercoin (which is cool, no problems there) but why FUD on VOOT? Supercoin goes through the same stages as VOOT; normal market price fluctuations. When this happened with Supercoin you posted :


You really are a bit two faced and you obviously want to see lower prices for VOOT. I really don't understand why people would FUD in the thread of a coin for the sake of buying in cheap, it's really pathetic. Any coin with solid development (like VOOT and SUPER) contribute to the succes of cryptocurrency as a whole, hate between coins just makes it harder for any coin to gain real world acceptance.

Well as you can see from my signature I support Crypt, but I have sold all my coins. I am all for holding when the FUD is high, but I am seriously doubting if the price can recover from this.
Thank God for stop-limit orders.

I wish you all the best in your future endeavours and I hope things will turn out for the better

That is the long term strategy for Silk. Developing own and unique non anon functionalities and when the time comes it will integrate the best anon solution. No need to join the anon hypetrain at this point in time, true anon is being developed right now, why should a coin like SC dedicate precious development resources towards developing an own anon function when in the end, after the anon battle is fought, it will be open source anyway. Best strategy is to hold your silk, this is a long term investment.

To spread fear and make people dump their coins cheap so the whales can buy more.
Oldest trick in the book, buy and hold if you want to be succesful.

Damn 1 minute late on that dump, I could have bought 20k more

Do you guys see the buy support ? it's massive

After being here for quite some time I see some people failing to see the bigger picture with XC.
This is not just "a coin" it is so much more. The underlying infrastructure is called a "privacy platform" meaning that the coins just enable you to invest in the platform, again (i said this before) the coins are stock and more than just a currency.

We are witnessing a company being built from the ground up, providing a service that is centered on privacy.

People can FUD, people can hate, you can call me stupid, delusional and whatnot. But it is my firm conviction that when the XC platform has fully matured it willl eventually be a NASDAQ listed company. This won't be tomorrow, but if there is any "coin" that can grow beyond this crazy crypto world it's XC.

Thanks I am looking forward to it, you guys are doing a great job.