SOLD LoyceVs Legendary 10 Month 10 Person 10 Altcoin Investment Roller Coaster#2

[LoyceV]

I've been thinking about a new round for a while now, so I came up with a plan: when/if Bitcoin market dominance reaches 80%, I'll open a new topic for Round #3. It's currently 68.3%, up from 55.1% when Round #2 ended. If I open the topic at 80%, I'm hoping it hits 85% by the time all spots are filled.

It feels like altcoins can drop less if they have a lower market capitalization when we start, but of course it's still a gamble. I'd hate to see a third round in loss, even though people are still volunteering to join.

[TheBeardedBaby]

I've been thinking about a new round for a while now, so I came up with a plan: when/if Bitcoin market dominance reaches 80%, I'll open a new topic for Round #3. It's currently 68.3%, up from 55.1% when Round #2 ended. If I open the topic at 80%, I'm hoping it hits 85% by the time all spots are filled.

It feels like altcoins can drop less if they have a lower market capitalization when we start, but of course it's still a gamble. I'd hate to see a third round in loss, even though people are still volunteering to join.

I stopped following the alts for maybe an year, but if you are planning to make another round i will gladly join and make my research. Crossing fingers for a new round

[HCP]

Oh... I am totally in! #reserved or whatever the cool kids are doing these days to queue up for a slot

Honestly, I don't think the market dominance really makes too much of a difference. I suspect it is more that the market is a bit more mature these days now that the ICO/IEO goldrush is well and truly dead and you're not getting new coins every other day.

[HeRetiK]

Oh are we lining up already?

I'm not much of an alt coiner but I do have my doubts that we'll see Bitcoin at 80% market dominance any time soon. Alts are just too tempting a gamble for many people.

Honestly, I don't think the market dominance really makes too much of a difference. I suspect it is more that the market is a bit more mature these days now that the ICO/IEO goldrush is well and truly dead and you're not getting new coins every other day.

I wonder what's going to be the next big thing though. Both the 2013 and 2017 bull markets came with their own flavours of gold rushes (unregulated securities / mining bonds in 2013, ICOs in 2017).

[DarkStar_]

I'd be open to running a round if people are interested (and if Loyce doesn't mind). Kinda wanna scratch that altcoin "gambling" itch 
The only downside would be that coins would have to be purchasable and held on Binance, as I'm not comfortable on any other exchange at the moment.

[Steamtyme]

Darkstar_ If you do run a round count me in. I'm in a speculative sort of mood lately.

LoyceV I would jump in for your 3rd round as well, but I think it will be a long time before we see 80% BTC dominance, I'll keep my eye out for it though.

[LoyceV]

I'd be open to running a round if people are interested (and if Loyce doesn't mind).

I don't mind, go ahead!
If you run this, I wouldn't mind scraping (hourly?) price data for iasenko's graph.

Only Binance means no Obyte (former Byteball), so if I can join, I'll probably pick Stellar Lumens.

[ralle14]

I'm interested as well if there would be a new group hold. I haven't held any alts for a very long time except for those bounty rewards that had little value.

Binance still has a lot of alts so i'd have no problems on which alt to pick(probably bnc).

[KingZee]

I know it's a bit late, but even Binance is sketchy at times :

https://www.reddit.com/r/CryptoCurrency/comments/e3e1uj/reminder_not_your_keys_not_your_coins_binance/
(I know of this thread because I'm a cardano hodler myself, the incentivized testnet is a major event and the fact that binance did this is extremely messed up imo..)

You never know through a duration of 10 months what is safe and what's not. Making the only 100% foolproof way imo is for someone to setup wallets for all the coins people are going to be investing in. It makes sense since you would just be hodling the money anyways, and then sell all of it on whatever the "trusted" exchange will be 10 months from that date.

[HCP]

Sooooo... Hypothetically... if a thread titled something like "HCP's Ode to (aka Blatant Ripoff of) LoyceV's Legendary 10 Month 10 Person 10 Altcoin Investment Roller Coaster" were to pop up... would I get any takers? Or would everyone prefer for LoyceV or DarkStar_ to start it up again?

I'm bored... it's hot... and I feel like throwing even more money away on frivilous investments

Note that I'd be wanting to go with coins that were listed here: https://shop.ledger.com/pages/supported-crypto-assets (in the Nano S column)
or here: https://trezor.io/coins/ (in the Trezor ONE column)

And that are "easily" obtainable... (on an exchange like Poloniex or Binance or Bittrex etc)

[LoyceV]

Sooooo... Hypothetically... if a thread titled something like "HCP's Ode to (aka Blatant Ripoff of) LoyceV's Legendary 10 Month 10 Person 10 Altcoin Investment Roller Coaster" were to pop up...

You'll see your title is too long, it's going to be cropped to:

Code:

HCP's Ode to (aka Blatant Ripoff of) LoyceV's Legendary 10 Month 10 Person 10 Al

And I can't help but read "AI" there. You did that on purpose, didn't you?

would I get any takers?

Probably! I've severely lowered expectations by losing ~50% twice, and still people are lining up.

I'm bored... it's hot... and I feel like throwing even more money away on frivilous investments

I see potential here for the thread title.

I like the hardware wallet improvement. even with the extra transaction fees it's better than relying on exchanges again.

[OgNasty]

Sooooo... Hypothetically... if a thread titled something like "HCP's Ode to (aka Blatant Ripoff of) LoyceV's Legendary 10 Month 10 Person 10 Altcoin Investment Roller Coaster" were to pop up... would I get any takers? Or would everyone prefer for LoyceV or DarkStar_ to start it up again?

I think it would be cool if someone started one with a catch to make it more fun.  For example, at the end of the time period everyone who lost BTC with their pick would take possession of the altcoins they selected.  This would leave only the outperformers, to be liquidated and split between those who selected them.  This way you either get an altcoin that you selected, or you make BTC.  Win-win.

[HCP]

I'm bored... it's hot... and I feel like throwing even more money away on frivilous investments

I see potential here for the thread title.

Agreed...

I think it would be cool if someone started one with a catch to make it more fun.  For example, at the end of the time period everyone who lost BTC with their pick would take possession of the altcoins they selected.  This would leave only the outperformers, to be liquidated and split between those who selected them.  This way you either get an altcoin that you selected, or you make BTC.  Win-win.

Oh... that is a fantastic idea... stolen!

[TheBeardedBaby]

Sorry for the necrobump but..
Alt season seems to started good. Last time it was fun, maybe we can do it again if LoyceV has the time and want to.
Think about it

[LoyceV]

Alt season seems to started good. Last time it was fun, maybe we can do it again if LoyceV has the time and want to.

I kinda want to stick to this plan:

I've been thinking about a new round for a while now, so I came up with a plan: when/if Bitcoin market dominance reaches 80%, I'll open a new topic for Round #3. It's currently 68.3%, up from 55.1% when Round #2 ended. If I open the topic at 80%, I'm hoping it hits 85% by the time all spots are filled.

Bitcoin is currently at 65.5% market dominance.

Even though altcoins have (more or less) maintained their market share in total, the number of altcoins keeps going up, so their individual market shares are continuously getting diluted more when new altcoins are being added to the pool.

It would be interesting to do a similar experiment in which Bitcoin is used to buy shares (stock). Doing so in December 2017 would have been a good call (in hindsight). But this would violate my broker's terms: I'm only allowed to invest my own money.

[icopress]

I've been thinking about a new round for a while now, so I came up with a plan: when/if Bitcoin market dominance reaches 80%, I'll open a new topic for Round #3.

I would join this experiment, but unfortunately the dominance of Bitcoin in such a ratio as you indicated this year will be unlikely.
And I have a suggestion, what if we open a short round? Very soon the altcoin bull market will peak, (I believe this trend will continue for another 3-4 weeks). This is the reason why I suggest starting a short round.

[LoyceV]

And I have a suggestion, what if we open a short round? Very soon the altcoin bull market will peak, (I believe this trend will continue for another 3-4 weeks). This is the reason why I suggest starting a short round.

I don't really want to do it now, even though some altcoins went up, the total keeps getting further diluted by newly created ones. That's why I think 80% Bitcoin market dominance would be a good start.

Looking at CMC.com, used even in the top 30 there are many coins I've never used.

I want to try something new, just for fun: 10 people each put 0.01 BTC ($18.80 now) in a pot, for which I buy 10 different altcoins.

How times have changed, it's now $484.30

[icopress]

I don't really want to do it now, even though some altcoins went up, the total keeps getting further diluted by newly created ones. That's why I think 80% Bitcoin market dominance would be a good start [...] How times have changed, it's now $484.30

I think this is not a problem, and 10 people will easily participate, although I would prefer to enter against the market since in my opinion it is really risky to bet on an uptrend right now. The losses may be greater than in the previous round, since some coins have increased their capitalization by 10/15 times. At the very least, we can discuss this option, conditions and immediately see interest in such a round. In addition, USDT's capitalization over the past year has grown from 4 billion to 32 billion, and this is another reason why Bitcoin will not reach 80% dominance this year, (because if I understand correctly, the circulation of this coin will not decrease, + fixed price). I mean, at this rate, the share of USDT could easily reach 7/10%, not to mention other top coins.

[LoyceV]

what if we open a short round?

I thought you meant "short" as in "maybe 2 months only".

I would prefer to enter against the market

I've never done that. Which exchanges offer this?

[icopress]

I've never done that. Which exchanges offer this?

I would opt for Binance as it is the most liquid exchange (and there is no need for KYC/2 BTC). In any case, this issue requires discussion and public support.