to all the "new" guys feeling confident of their trading skills imo:
Sell XC, buy block, then see if you can augment ur position. Dont take my word for it, do ur homework and see if its any good. Imo if you can't form an xmixer, you should really see the possibility of profiting from blocknet, then reinvesting in XC. XC will bounce back- hard. But certainly not tomorrow, or next week,
I M O. And im a noob, so there's that.
short term, yeah, it might not be great, but then, you have to consider a couple of things:
1) Not every1 is a great trader. I have accumulated just enough to have some xmixers, and I am still debating in my head whether I should sell more XC for blocknet. Thus, why take the risk and sell XC, if you are not certain you can profit from it? Remember that xmixers directly profit from private transactions, and the up to the day testing has proven that with the minimal network traffic, users were able to profit by sums relative to daily staking . With blocknet, multiply that profit by 100, as the blocknet's network traffic and thus private transactions will be massive compared to just XC's network, cause lets face it, not every1 bought into XC or is willing to, for his own reasons.
2) There is the XC ITO as well. Even if you have complete faith in your trading ability, maybe the timeframe doesnt fit, and you are forced to give up on XC ITO tokens. Remember that you get 1 free XC ITO token for just HOLDING 10 XC. No need to sell or anything. Yes, the blocknet might be in the spotlight right now, and it is a HUGE, collaborative project, but Dan is the leaderin this effort and his work is the core, even though there is no central coin. You know, some1 has to code that thing:P. More people get into blocknet or become aware of it, Dan and team will take a lot of credit for its success and smooth operation, that will make people invest more into his projects.
3) Big holders and traders sell XC, take notice of the term "sell", not "dump". That implies two things, first that most of them intend of profiting and commiting back to XC at some point, and secondly, that there is nothing wrong with the coin itself. There shouldnt be any mistrust or frustration at the pace of develpment, thus you dont dump, you just sell for various reasons. This also means that a lot of newcomers find a new entry point to invest into XC, and coin wealth is redistributed.
4) There are many frustrated newcomers to the scene, myself being quite new, 6 months in this, but it is such a highly volatile environment that every month of experience in here is like 1 year in other more stable markets. Take notice of last month's bitcoin price, then keep in mind that 6 months ago, 400~450$ was considered a couple of month's stable, then it spiked to 600~650 for at least another 2-3 months. There was LOT of profit from experienced traders, poured back right into the alts scene: mintpal was the king of volume, there were THOUSANDS of BTC PER TOP10 ALT traded every single day, and XC was part of it. Then came sept/oct bitcoin crash to 350~400, mintpal hacking and A LOT of alt scene scams... BTC is the king, if it catches the flu it spreads to alt scene as well, if it rekts then alts wreck havoc as well.
5) Because of point 4 people are really skeptical of using exchanges, at least until one provides real proof that is 100% stable and longterm viable, thus stable, PoS long term projects like XC have no real value stacking in an exchange, just search the topic about user experiences losing THOUSANDS of XC in mintpal/moolah scam, resulting in really low XC volume making it easy for avid traders to manipulate XC and profit from it.
This is ofc a small timer's point of view by trying to study/analyse the last month's scene, and in no way patronising you, just thought it would be nice to share this
ps:conradjohnson, no, for this ITO you have to sell XC to coingateway(its really fast and secure), and they provide you with blocks(blocknet coin/shares). You get 10% more blocks if you do it with XC directly, rather than selling XC for btc and purchasing blocks with btc. The deal you are requiring is commited to the XC "company" ITO.
