Would this be profitable

[XinXan]

I was thinking about investing 0.10 total btc into really low value altcoins between 1 satoshi to 10 satohis. I would invest 0.01 in each coin and buy as much as i could, then just wait for the price to grow, if it does. I mean if one goes from 1 sat to 10 sat you are already gaining x10 and every other coin could go to shit, at least you would have gotten your money back, things like this have happened, dogecoin went from shitty price to 120 satoshi once so its not a crazy idea, right? Obviously i would not buy just any coin but those with a little bit of potential, any ideas?

[Amph]

it's a good strategy already adopted by someone else, i remeb it it was proposed when altcoin where not so dead as they are now, but the problem is finding those alt with some potential, and unless you choose the same, usual altcoin that still on track like litecoin dash ecc, it's not that easy at is seems

because many alt that are in the position of still having the price of 1 satoshi are basically declared dead, they could at best rise to 2-3, not 10

besides that i cannot find any with 1 satoshi, minus YACC(1 satoshi) and piggy(7 satoshi), there are not even good option at that price, maybe it is better to add a couple of zeroes, and start searching between those with a 1k+ satoshi

[XinXan]

Yeah well i said 1-10 without really thinking about it, probably more like 1 - 10.000 its a good range, i bought some maxcoins at 9000 satoshis lets see how it goes, im looking for other coins, dogecoin and the others are too stable right now even tho dogecoin has been a bit volatile lately, we will see, i will probably post here what i end up buying.

[Fabrizio89]

I don't know if it's the best time to buy anything right now, if you think this consolidation in Bitcoin will resolve up then it's worth it yes, but if we drop below 200 altcoins will really waterfall into oblivion as everyone wants to get out and stay in fiat. Not saying some won't go up again and possibly by much more than expected after that. Wathever your streategy is always think about the risks

[XinXan]

I don't know if it's the best time to buy anything right now, if you think this consolidation in Bitcoin will resolve up then it's worth it yes, but if we drop below 200 altcoins will really waterfall into oblivion as everyone wants to get out and stay in fiat. Not saying some won't go up again and possibly by much more than expected after that. Wathever your streategy is always think about the risks

Yeah maybe its not the best time to buy but im doing it as an experiment, im only investing 0.1 so the risk is not big, i could just lose all and thats it, not a big deal. Im probably going to pick the ones who are really active. We will see tho.

[BrannigansLaw]

Read into Gridcoin (GRC) it wont be a bubble

[arallmuus]

I mean if one goes from 1 sat to 10 sat you are already gaining x10

Or you can get a quickswing and sell them off while they are getting at 2 sats for x2 profit which is not bad. Altcoin are pretty volatile, the moment you see the price raise then the next 24 hours you will see that the price has gotten alot lower

Market for altcoin is controlled by HYPE and FUD, which you can check in the altcoin section. If the dev announce that they will implement an X feature to the coin, this will drive the price up and if the Dev is missing for several days, people will start dumping and search for a new altcoin. Thus this require you to be active and do a regular check on it if you are planning to go in altcoin

[thebenjamincode]

well in my opinion
on what you are doing is like gambling with altcoins
but with just .1 BTC as your investment, i think you wouldn't get much profit from it

[BrannigansLaw]

I mean if one goes from 1 sat to 10 sat you are already gaining x10

Or you can get a quickswing and sell them off while they are getting at 2 sats for x2 profit which is not bad. Altcoin are pretty volatile, the moment you see the price raise then the next 24 hours you will see that the price has gotten alot lower

Market for altcoin is controlled by HYPE and FUD, which you can check in the altcoin section. If the dev announce that they will implement an X feature to the coin, this will drive the price up and if the Dev is missing for several days, people will start dumping and search for a new altcoin. Thus this require you to be active and do a regular check on it if you are planning to go in altcoin

Yes but you need the volume to do that

[goosoodude]

Altcoin trading is very close to gambling. Nobody can guarantee you that the coin won't be dead in the upcoming weeks. You'd be basically betting that a semi-dead low value and volume coin would start receiving interest again. Unlikely to happen, but great profit to be made in case it happens. I guess you'd be prepared to lose 0.1 BTC or big part of it anyway.

[sofu]

Its working but you need patience. Wait for the coin before you buy it and not after it.

Also try to buy cheap coins on cryptsy on LTC market. If the coin take of and will add on BTC market you can make much more profit than x10 

[XinXan]

Altcoin trading is very close to gambling. Nobody can guarantee you that the coin won't be dead in the upcoming weeks. You'd be basically betting that a semi-dead low value and volume coin would start receiving interest again. Unlikely to happen, but great profit to be made in case it happens. I guess you'd be prepared to lose 0.1 BTC or big part of it anyway.

Well yeah I exaggerated a little bit when i said 1 satoshi, i dont want to buy almost dead coins but rather coins with potential that have a low cost right now, so far i have invested 0.01 on MaxCoin and 0.01 on MintCoin

[arallmuus]

I mean if one goes from 1 sat to 10 sat you are already gaining x10

Or you can get a quickswing and sell them off while they are getting at 2 sats for x2 profit which is not bad. Altcoin are pretty volatile, the moment you see the price raise then the next 24 hours you will see that the price has gotten alot lower

Market for altcoin is controlled by HYPE and FUD, which you can check in the altcoin section. If the dev announce that they will implement an X feature to the coin, this will drive the price up and if the Dev is missing for several days, people will start dumping and search for a new altcoin. Thus this require you to be active and do a regular check on it if you are planning to go in altcoin

Yes but you need the volume to do that

It is easy to create a fake volume in altcoin trading anyway though , depending on what you want either buy or accumulate cheap coins then the strategy for it would be different.
Basically those in altcoin trading are always following pattern which means if they see High percentage of "red arrow" in exchanger then they would start to buy and also vice versa to it. Whats left would be either a HYPE or a FUD at the thread to boost it coming though

i dont want to buy almost dead coins

Truth is most altcoin are ninja launch anyway and they are meant to exist to provide some profit then after that they die, rinse and repeat the pattern over and over again

[shanem]

I don't like to buy altcoins less than 10 satoshi.
The risk is too high that exchanges will delist the coin.
I would rather find altcoins at a few hundred to one thousand satoshi for better potential.
The coin supply will be lesser.

[Zer0Sum]

The short answer is no.

Long answer = trading in distressed securities is strictly for experts.

Longer answer...
Unless you become an expert/pro at something (5 yrs/10,000 hours), you will never succeed at anything...
And getting lucky gambling makes you a degenerate... not a success.

[sdmathis]

I did something similar, but with a twist and found it to be profitable. I chose a few coins that were hurting but that I judged to have potential. Then I started supporting those coins. For instance, some of the coins had no mining pools, so I set up a mining pool. Also, I helped the developer of a couple of coins update their code. Not everyone can code, but there are things that you can do to support the coin other than just buying it and spamming the forums.

I found this method to be very profitable on a percentage basis, but because of limited liquidity, the absolute profit wasn't as high as one might like. I did do better that 10X though with five coins.

[XinXan]

I did something similar, but with a twist and found it to be profitable. I chose a few coins that were hurting but that I judged to have potential. Then I started supporting those coins. For instance, some of the coins had no mining pools, so I set up a mining pool. Also, I helped the developer of a couple of coins update their code. Not everyone can code, but there are things that you can do to support the coin other than just buying it and spamming the forums.

I found this method to be very profitable on a percentage basis, but because of limited liquidity, the absolute profit wasn't as high as one might like. I did do better that 10X though with five coins.

Thats an interesting strategy, say you have 10 btc and invest 5 into a new coin and other 5 into its publicity, if you succeed you only need the price to be twice as much and you would be recovering all your money. Thats something that might work but you definitely need to know how to support that coin, how to make the hype.

[sdmathis]

I did something similar, but with a twist and found it to be profitable. I chose a few coins that were hurting but that I judged to have potential. Then I started supporting those coins. For instance, some of the coins had no mining pools, so I set up a mining pool. Also, I helped the developer of a couple of coins update their code. Not everyone can code, but there are things that you can do to support the coin other than just buying it and spamming the forums.

I found this method to be very profitable on a percentage basis, but because of limited liquidity, the absolute profit wasn't as high as one might like. I did do better that 10X though with five coins.

Thats an interesting strategy, say you have 10 btc and invest 5 into a new coin and other 5 into its publicity, if you succeed you only need the price to be twice as much and you would be recovering all your money. Thats something that might work but you definitely need to know how to support that coin, how to make the hype.

Yes. That's true. You need to know how to do something that will support the coin. I can code, so that helps me, but there are many things one can do. If you're a writer, you can write press releases, you can talk to exchanges about listing the coin if it's not listed. If you're a natural salesman, you can encourage others to support the coin. The only limit is what your imagination can come up with. It works for me. Maybe it will work for others too.

[arallmuus]

trading in distressed securities is strictly for experts.

Unless you forgot we are talking about altcoin trading here which means that it is not strictly for experts. Altcoin trading is quite different because of its nature that most are created for Pump and Dump shceme making it easier to be manipulated, therefore you dont need to be an expert for this

You need to know how to do something that will support the coin.

The easiest would be to FUD the other coin. Not saying that you should do this but as you can see the ANN section, there is a lot of new account popping out just to say the coin is dead , move on X coin instead. It is pretty normal in the ANN section anyway. The other easy thing would be to HYPE a promises, nothing can be more Hyping than saying a promises that X feature will be implemented soon

[XinXan]

trading in distressed securities is strictly for experts.

Unless you forgot we are talking about altcoin trading here which means that it is not strictly for experts. Altcoin trading is quite different because of its nature that most are created for Pump and Dump shceme making it easier to be manipulated, therefore you dont need to be an expert for this

You need to know how to do something that will support the coin.

The easiest would be to FUD the other coin. Not saying that you should do this but as you can see the ANN section, there is a lot of new account popping out just to say the coin is dead , move on X coin instead. It is pretty normal in the ANN section anyway. The other easy thing would be to HYPE a promises, nothing can be more Hyping than saying a promises that X feature will be implemented soon

Probably one of the best ways is to have a website that sells things or services and tell people you will implement the payment with X coin, that would give that coin really good publicity, you could also set up a signature campaign here for 1-2 months, maybe only allow people to post in the altcoin section.