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Author Topic: Alts are so cheap, are you buying or selling?  (Read 2584 times)
markm
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March 30, 2014, 06:36:15 PM
 #41

Well I do actually have a bias, I trade coins that I want to try to ensure go up, and failing that want to raise the floor of over time.

Coins I hold lots of in my off the exchanges wallets and thus have a vested interest in trying to prevent from becoming value-less or of less value.

So my bias it toward filling the buy side of the order book, piling up more and more and more buys trying to eventualy have so many buy orders in place that if all the coins of that type that I do not own were sold to my buy orders I'd own them all, and maybe then some.

The and then some is that even if I manage to have enough offers to buy them all at one satoshi per coin, I would keep going, heading toward being able to buy some of them at more than one satoshi and still be able to buy the rest at one satoshi; and eventaully to be able to buy some at 50, more at 49, even more at 48 and so on all the way down and still buy them all before hitting one satoshi. Then onwards to being able to buy them all before hitting two satoshis, and so on onwards and upwards slowly raising the lowest price that coin can reach if sold to me.

I like DeVCoin for this not only because I helped develop DeVCoin but also because its price has tended to be a small enough number of satoshis that I can put an offer at each and every satoshi of price despite having to type in the offers manually due to the API not allowing me to have thousands upon thousands of offers (across all the coins I trade).

I don't like leaving gaps between offers because bots tend to fight over individual satoshi changes of price so simply flooding all possible prices leaves them less space to fiddle around with, to sneak in between my offers etc.

-MarkM-

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hellscabane
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March 30, 2014, 08:35:49 PM
 #42

What new crapcoins do you imagine SHA256 ASICs are going to move on to?

I already mentioned that I won't consider the merged mined family of scrypt coins worth risking until I see litecoin and DOGE being merged mined together or one of them becoming so insignificant it no longer seems a serious fragmentation of the scrypt space, didn't I?

-MarKM-

Hopefully none. BTC has the SHA-256 realm and just let it remain that way; other coins can be made to be merged-mined as it should be for something with strong infrastructure.

Anyhow, yes you did. I guess what I'm trying to say is that even the merged-mined coins like NMC/DEV just doesn't seem worth getting at the moment since BTC is still "struggling." I'd still rather get more BTC while it is in its dip, rather than divesting what I have in BTC to get alts. Don't get me wrong, I think that the merge-mined coins will go up (and in fact will likely gain significantly more value than coins in the scrypt realm), but I'd rather see the correlative TA first before taking that risk. I guess I'm just a smidge risk-adverse at the moment.

Heh, I guess in response to the thread question, I'm holding; but if I had to choose between sell or buy, I'd buy.
Bit_Happy
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March 31, 2014, 01:17:04 AM
 #43

Devcoin is/was good for trading. It went lower than I expected the last month or so.

markm
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March 31, 2014, 01:20:19 AM
 #44

Devcoin is/was good for trading. It went lower than I expected the last month or so.

It went to 27 satoshis again like the previous low period didn't it?

Usually though it seems best to place at least some buy and sell orders far beyond the lowest or highest you expect to ever see, so that if there is a big surprise in either direction it will be a pleasant one. Smiley

-MarkM-

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kache
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March 31, 2014, 01:32:28 AM
 #45

Buying AirCoin, because I already dumped too much on it and only way to lower the point at which I can cashout without losses is to invest more at current (hopefully) floor price.

Rig: http://www.betarigs.com/rig/257
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Doge: DSdsJdTrmXSAZCdNi1iQ7zEo8nH1iBWGQv
dadao888
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March 31, 2014, 03:34:14 AM
 #46

not cheap enough.all those shitcoins and copycats worth nothing.
suttcoin894
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March 31, 2014, 03:38:20 AM
 #47

This was a difficult decision, I feel or look at the market, when our choices are not necessarily correct, but can reduce the loss of their own.
Nxtblg
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March 31, 2014, 10:10:17 AM
 #48

Well I do actually have a bias, I trade coins that I want to try to ensure go up, and failing that want to raise the floor of over time.

Okay, I stand corrected.

I like DeVCoin for this not only because I helped develop DeVCoin but also because its price has tended to be a small enough number of satoshis that I can put an offer at each and every satoshi of price despite having to type in the offers manually due to the API not allowing me to have thousands upon thousands of offers (across all the coins I trade).

Are you responsible for putting in (or insisting upon) Devcoin's merged-mining capability? What does Devcoin have going for it, end-user-wise?






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M-Plan
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April 01, 2014, 09:47:07 AM
 #49

Just holding DOGE, LTC, PPC.
You, too?

markm
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April 01, 2014, 09:53:02 AM
 #50

What does Devcoin have going for it, end-user-wise?

Unthinkingbit was the DeVCoin designer, he wanted merged mining because he wanted a secure blockchain and because he did not want all the coins to go to miners, the entire point was to create coins that someone else other than miners can get. Specifically, developers of free open source software, hardware, art and so on.

One thing I have been trying to provide that end users should like is actual "backing" for the coin: ever-growing heaps of buy-orders ensuring that anyone who wants to dump is able to dump, and hopefully at an ever growing price-floor.

-MarkM-

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vrm86
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April 01, 2014, 02:42:12 PM
 #51

I'm selling all scrypt coins, buying 100% PoS and mining alternative algos (X11, groestl, q2c).
WayToGo
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April 01, 2014, 02:44:14 PM
 #52

MYR looks like a good one to get into.
I think POS coins would be the future because of their low energy consumption.
Exciting times ahead.
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