I made a bad call this time about bitcoin, because the alt-coin market was going to crap, and I figured the bitcoin market was also. Just read my original post, I mentioned cashing out of the alt-coin market. I never traded bitcoins, only bought them to invest in alt-coins, so I never watched the bitcoin market.
I was right about the alt-coin market at the time, and cashed out before mostly everything fell. I cashed out on Nxtcoin at the peak of .00013 making over 20x my original investment at .00000500.
I got scammed and rebought in at .00009 before the source code release when the NXT cartel decided to peg the price at .00009 forcing me to buy in high. Then I sold out at .00007 and warned everybody at .00007 that I am cashing out at that point and why. Just an hour after I warned people on the forum the price dropped from .00007 to .00005. I got scammed here due to blatant price manipulation. But I still profited from my 20x rise.
However, the alt-coin market was failing because they have to share all the money being invested in them. Most of the crappy ones will fall, and only few will survive and it will only get worse.
Trust me, I am warning people away like crazy in the alt-coin community about the inevitable price collapses of many of the crap-cions, as the market is so tiny and they have to continually share any growth with all the others and all the new temporary hot ones coming out. Plus I try and let people know just how high the growth rate is on many of them which will inevitably make them fail in the tiny market.
Trust me, many people don't like me over there, just like most don't like me here.
There was a time you could have profited with alt-coins but you have to play it very smart. I never invested in bitcoins directly, I still have about 7 bitcoins from selling alt-coins, I sold very little of them as I basically decided to sell if they went under $675 and if it didn't just ride the wave up.
However, I did make a bad call here thinking the bitcoin market was tied with the alt-coin market, which it really isn't. Weakness over there does not mean bitcoin weakness. My mistake. I really should have made the title, "I'm cashing out my alt-coins".
Actually, the reason that bitcoin may have rose was because the alt-coin market is failing and people are putting their money back into bitcoins now. It has actually made it stronger! Which I failed to see.
Just read some of my posts, I warned people in the Emark to cash out at .0003, and gave them good reason to. I already cashed out at .0004 after buying in at .0001. They gave me the same non-sense you guys give me that I don't know what I'm talking about. The Emark went down to .0002 and will go back to .0001 for sure.
https://bitcointalk.org/index.php?topic=310939.msg4294369#msg4294369Look at me warn people from earth coin, only to have it fall over 25% from the warning.
https://bitcointalk.org/index.php?topic=399855.msg4331360#msg4331360Just before saying I was "cashing out", I told people on here that the bitcoin price was going to $1000, as it did.
https://bitcointalk.org/index.php?topic=378259.msg4054436#msg4054436https://bitcointalk.org/index.php?topic=385523.msg4148790#msg4148790So you guys may say I am always wrong, with a few understandable misjudgments, I am usually right. Yes I was stupid not buying bicoins at $2.00, but I still told everyone it was way overvalued from $30 to $2.00. Does that really make me always wrong because I didn't buy in at that time.
So in a way I was right again, cashing out of alt-coins before the inevitable collapse. Just shouldn't have posted here in the topic that I'm cashing out my bitcoins.
