Drxne

[Peiixe]

Hi, I'm Paulo, I live in Brazil and I'm starting out without trading the Cryptopia site. Today a catastrophe happened.
A coin called Droxne valued from 1000 satoshi to 140,000, I bought 40000 satoshi but it devalued to 7000, I lost all my investment, can anyone suggest a solution?

[mk4]

What solution are you looking for? You saw the huge percentage growth in price of whatever that cryptocurrency is, got too greedy, FOMOed out bigtime and probably went all in since you lost all your investment like you said, also probably expecting it to x10 in a day or something.

Just accept it that you fucked up and made a huge mistake, and learn from it. Make it a habit of not just going in on shitcoins. Do your research first on the cryptocurrencies. Not because it rose in price doesn't mean it's a good investment.

EDIT: Just checked coinmarketcap.com. That "Drxne" coin isn't even listed there. 

[iamTom123]

Hi, I'm Paulo, I live in Brazil and I'm starting out without trading the Cryptopia site. Today a catastrophe happened.
A coin called Droxne valued from 1000 satoshi to 140,000, I bought 40000 satoshi but it devalued to 7000, I lost all my investment, can anyone suggest a solution?

I am sorry to hear your big loss. You have been a victim of the usual pump and dump maneuvered usually by a group of people who have the money to boost one coin and then left as fast as they can when they reached their goals. You must be careful because pump/dump is very common in cryptocurrency.

Now, what can you do? You can cut your loss by selling your Droxne coins and maybe start all over again using the funds left on your account or you can wait just hold your Droxne coins in there and wait for it to go up and then sell. It is all up to you. You are not alone with this bad experience so don't worry that much.

My other tip: Take this experience of yours so you can be a better trader next time around. Plus do not give up...you may choose to take some rest but make a plan for a return (hopefully with a vengeance at that time!).

[simrac]

I think  this is good coin ,this project have roadmap clear, i  invested drxne  but i bought cheaper than you bought,  i keep hold long term , i don't worry ,hope you have lucky .

[Peiixe]

I think  this is good coin ,this project have roadmap clear, i  invested drxne  but i bought cheaper than you bought,  i keep hold long term , i don't worry ,hope you have lucky .

Thank you!

Where did you find information on the same, and how to calculate a forecast so that perhaps, or if possible, it come to value again?

[simrac]

I think  this is good coin ,this project have roadmap clear, i  invested drxne  but i bought cheaper than you bought,  i keep hold long term , i don't worry ,hope you have lucky .

Thank you!

Where did you find information on the same, and how to calculate a forecast so that perhaps, or if possible, it come to value again?

i don't sure about that ,maybe is one year ,everyday i always keep follow topic drxne to see update news ,if possible i will buy more drxne to sum value is min . sometimes drxne increase 100% so everything can happen. 

[InvisK]

From my experience, you should wait for their increase.

[xtraelv]

Hi, I'm Paulo, I live in Brazil and I'm starting out without trading the Cryptopia site. Today a catastrophe happened.
A coin called Droxne valued from 1000 satoshi to 140,000, I bought 40000 satoshi but it devalued to 7000, I lost all my investment, can anyone suggest a solution?

Sorry to hear you lost your investment. Crypto currency can be very volatile. If it was easy then everyone would be rich.  

What i found that works best for me is to have a long term strategy rather than following the hype of coins. With ICO's and with pumps and dumps there is frantic trading and the price first goes up and then usually goes down.

You can analyse the cycles of a coin and predict when it goes up and when it is likely to go down. But I am not a particularly good trader.
I like capital gain rather than trading profits.

I find it easier and less time consuming to buy coins that I think are long term winners.
The criteria that I use are:
If it is POW coins - how much does it cost to mine v to buy ?
Was there a pre-mine and who benefited and why ? (e.g. if it is used for ongoing development then that is good - if it is dev get rich quick then it is bad)
With POS coins - is the rate of return sustainable. How is it generated ? Transaction fees or new coins generated?
What is the total number of coins in circulation.
What is the usual daily number of coins being traded
What is the maximum amount of coins that will be / are created.
How popular is it ?
Importantly - does it have a particular purpose?
How useful is it ?
Do i understand how it works ?
Its special features - Would I use it ?
Does it have some really good features ?
What is the market CAP - is it realistic ?
Does it have a busy developer community ?
Are funds from its value being used to develop it further ?
Is it ethical and does it have legitimate use ? (For my own peace of mind and to prevent regulatory shutdown)


Spread your investment - do some cloud mining, some home mining, invest in a promising exchange / crypto related startup / ICO , Invest in some established coins like BTC, ETH, LTC and invest in some lesser known coins that show some promise. Don't be too greedy - diversify. Take some risk but make sure to do your homework. Last year after everyone was selling ETH after the DAO hack - I took a risk and stated buying ETH mining contracts and ETH.  I made a larger % from that than trading. It outperformed my expectations.

Some coins are worthwhile holding on when the price crashes and sometimes you are better cutting your losses.

I hadn't heard of Droxne until I saw the trading volume this morning with a large volume being dumped and the price crashing.


“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
― Warren Buffett

(I have to add - Warren Buffet does not like crypto and has said crypto is a bubble that will burst)

[BitPACK]

don't buy any shit coin like this. pump dump groups are playing those kind of coins.

[xtraelv]

don't buy any shit coin like this. pump dump groups are playing those kind of coins.

Pump and dump happens with all crypto. With shitcoins it is just more noticeable.

https://www.worldcoinindex.com/

This pump was quite obvious.

[sepely]

don't buy any shit coin like this. pump dump groups are playing those kind of coins.

Pump and dump happens with all crypto. With shitcoins it is just more noticeable.

https://www.worldcoinindex.com/

This pump was quite obvious.

small pump&dump groups doing this kind of actions.