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Author Topic: Current Alt-Crypto Market  (Read 908 times)
Jhyrachy
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August 10, 2014, 08:47:24 AM
 #1

Hi,
i lurked a lot around the crypto market and I invested around 20$ in dogecoin (never invest what you can't afford to lose  Grin) in the last months and i decided to "diversify" my crypto-money and i was not sure about what crypto invest in.

I really like Peercoin and it's a really good time to invest in (less then a dollar each), also they promised to deliver sidechains and other stuff that i like pretty much!

Also, NXT looks really promising! I don't like so much that is totally pre-mined, but i find the java client pretty innovative and it has a lot of possibility!

I was interested in DarkCoin, but ( i don't know why) i can't feel confident with it :/

I don't like so much  Litecoin or Bitcoin, so i'll probably stay away from them.

What's your opinion about the current market?
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August 10, 2014, 09:37:38 AM
 #2

The altcoin market is currently saturated and stagnant. There aren't that many impressive altcoins at the moment and most are just rehashed versions of other coins.

Those of us who've been here long enough will know that altcoins move in stages. Every 2/3 months there is a MASSIVE gainer in the altcoin market, and subsequently the clones follow suit trying to bank on these massive Gainer's success. e.g.

Auroracoin, which started the country coin phase.

ReddCoin and Heavycoin, which stated the IPO phase. (Not that good market wise)

BlackCoin which started the current PoS phase.

DarkCoin which started the current Anonomity phase

If you bought into any of the above coins early, you would be very, very rich if you sold them at their peaks. And even if you missed the train for those coins, if you get into the first two or three clones you can still make a ton of money

Jhyrachy
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August 10, 2014, 10:18:20 AM
 #3

i'm a student, so i have not so much money to invest in crypto, so, even in the best case, i will have gained in the best case not more then 100€ XD

TBH i was looking for a "long term" money to invest in.
Something where i can put 5€/week and, at the end of my study, had a bit more of what i put in FIAT XD

All the coin you pointed out just "faded" away with huge price drop.
Also other coins like reddcoin never had a "spike" (at least checking coinmarketcap), so i'm not so confident to put money in this type of coin. nevermind, wrong period graph
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August 10, 2014, 11:21:15 AM
 #4

Check this thread for a good long term coin, 1000's coins out there now & if you do your research... You shall find the innovation of SaveCoin, not many know of it yet & the market has just settle back from... Well I'll let you study it & make your prediction on where this rare, but unknown coin may go  Wink
https://bitcointalk.org/index.php?topic=570526.msg6215659#msg6215659
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August 10, 2014, 01:47:39 PM
 #5

i'm a student, so i have not so much money to invest in crypto, so, even in the best case, i will have gained in the best case not more then 100€ XD

TBH i was looking for a "long term" money to invest in.
Something where i can put 5€/week and, at the end of my study, had a bit more of what i put in FIAT XD

All the coin you pointed out just "faded" away with huge price drop.
Also other coins like reddcoin never had a "spike" (at least checking coinmarketcap), so i'm not so confident to put money in this type of coin. nevermind, wrong period graph

I did mention that Reddcoin hasn't performed that well market-wise. Don't be disheartened by the fact that you have less cash to invest compared to others, it's all about investing in the right coins at the right times.

Some examples :

If you invested $100 into Bitcoin when it first hit exchanges, you'd now be a multi-millionaire.
If you invested 1 Bitcoin into Blackcoin when it first hit exchanges and sold at its peak you'd have 475 Bitcoins.
If you invested 5 Bitcoins into Darkcoin around 4 months ago and sold at its peak 2 months ago you'd have 120 Bitcoins.
If you invested 1 Bitcoin into Auroracoin when it was at $0.01 and sold at its peak of $90, you'd now be a millionare.
If you invested 1 Bitcoin into NXT at its IPO, and sold at its peak market cap, you'd now have $2 Million.


It just goes to show that in crypto-currencies there's opportunities around every corner. There is no other place on earth where you can make returns as big and as fast as in crypto-currencies. You just have to pick the right coins and invest early. If you'd like some advice on investing in coins, invest in coins that are : professional, well designed graphically, innovative and well established.

The coins to look out for currently in my opinion are :

Monero
Crypti
MaidSafe
BitSharesX

One last piece of advice that I will give you is try not to take advice from people on this forum regarding which coins to invest in (despite what I just said about the above currencies, those are well established). The reason being that there are a lot of "bagholders" out there who will try and get you to buy into their dead coins like the person above with SaveCoin (a dead shitcoin), stay far away from that. Ultimately only you can make the decision which coins to invest in, but you will see a lot of users trying to spam your topic trying to get you to invest into the dead coins which they are "bagholding", if you see their post history you'll notice this.
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August 10, 2014, 01:49:35 PM
 #6

Right now, the altcoin market's going through hard times: that's why you see a lot of gloom and frustration 'round here. The current bear trend explains why "No More Shitcoins!" is the latest fad in this here board.

This kind of frustration/gloom/anger is typical in bear markets. In a microscopic fringey scale, it's a lot like the gold market in the crisis of '08. There was a lot of panic in the gold and silver markets at that time because the crisis spilled over into huge dumps of gold by big institutions who needed the cash to meet margin calls elsewhere. That's the main technical reason behind the maxim: "in bear markets, all correlations go to one."

Down in the gold-stock market, particularly in the penny-stock gold-exploration subsector that I used to watch, that panic means a lot of good companies were selling really cheaply. I actually saw exploration juniors release drill-sample assay results that would have kick-started their stocks in a hot market - and the market yawned. Not only did their price go nowhere, but also their volume went nowhere. Those great results were ignored.

That, as I proved to my satisfaction, was the time to buy in.

But if you're going to play the game this way - which is actually the best way to play for a relative newb unless you have a special knack for putting yourself in the shoes of the punters 'round here and have a finely-tuned social 'radar' that clues you in to what they'll stampede into next month - the best approach to take is:

1. Select a quality coin that's been around for a long time and has held up despite being buffered and battered by the waves 'round here.

2. Try to buy at peak gloom or peak FUD. [Important Note: This approach only works with time-tested alts that have a proven track record of bouncing back. If you get this part wrong, you will be a bagholder!]

3. Wait: if you need to, find something else to do that'll keep you distracted while you wait.

4. Keep waiting - you may have to wait for a long time.

5. When the altcoin market sizzles up again, consider selling - perhaps enough, in combination with any earlier sales, to get back your original spend in fiat terms - and hold on to what you have left. If you pull this off, you'd be playing with what's called "house money," which means you can afford to relax. If your alt hasn't gained that much in fiat terms for you to do so, you might want to sell half to limit your risk which will also relax you.

6. Check up on your hold. Is it still on the growth track adoption-wise? Or is its underlying spread sort-of stuck, like Litecoins's is now? If the former, you might as well keep your money rolling. If the latter, you should give serious thought to getting out entirely.

7. Goto 5 until you liquidate.  

As for the best coin to do this with, I'd have to say Nxt. In BTC terms, Nxt hasn't been all that hard on its bagholders who excitedly bought at the top of an intermediate-term bull run. It has the staying power - price-wise - that makes it a good starter coin for a relative newbie looking to try his or her hand at speculation the long-term way.


Variation To The Above: If you "buy the gloom," it will be inevitable that you'll buy before the bear trend ends. In the stock market, this is known as "trying to catch the falling knife." You can limit your risk of catching the falling knife by spacing your buys over time. With Nxt, for example, you could scrap up $100 this month, $100 next month, convert the found money into Bitcoin and head over to an exchange like Cryptsy or Bter and put your new BTC into Nxt. Do this over time and your average price will be pretty decent as long as you stop buying when the gloom turns to excitement again.

[BTW: I'm using '$100' because, from what I've seen at Localbitcoins, $100 is pretty much the minimum you need to buy some BTC. If you know of a gateway that accepts a lower minimum, by all means lower the example figure I gave above.]


P.S: If you're in the mood for a pure speculation, you can plunk some money into the coin I'm associated with, NFD. If you jump on board the NFD train, though, it's really important that you cultivate the art of patience. NFD is a plain Nxt clone with a rudimentary ecosystem at the moment, which makes it a pure speculation at this time. We're growing it, but we're also growing it prudently; the tech team are big fans of thorough testing. Smiley

If you check out NFD and like what you see, I suggest you buy both NFD and Nxt. Nxt is time-tested, with a lush and growing ecosystem, and is therefore safer than NFD at the moment. Buying both limits your potential gain, true, but it also limits your risk.






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Wulfcastle
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August 10, 2014, 02:03:31 PM
 #7

Right now, the altcoin market's going through hard times: that's why you see a lot of gloom and frustration 'round here. The current bear trend explains why "No More Shitcoins!" is the latest fad in this here board.

This kind of frustration/gloom/anger is typical in bear markets. In a microscopic fringey scale, it's a lot like the gold market in the crisis of '08. There was a lot of panic in the gold and silver markets at that time because the crisis spilled over into huge dumps of gold by big institutions who needed the cash to meet margin calls elsewhere. That's the main technical reason behind the maxim: "in bear markets, all correlations go to one."

Down in the gold-stock market, particularly in the penny-stock gold-exploration subsector that I used to watch, that panic means a lot of good companies were selling really cheaply. I actually saw exploration juniors release drill-sample assay results that would have kick-started their stocks in a hot market - and the market yawned. Not only did their price go nowhere, but also their volume went nowhere. Those great results were ignored.

That, as I proved to my satisfaction, was the time to buy in.

But if you're going to play the game this way - which is actually the best way to play for a relative newb unless you have a special knack for putting yourself in the shoes of the punters 'round here and have a finely-tuned social 'radar' that clues you in to what they'll stampede into next month - the best approach to take is:

1. Select a quality coin that's been around for a long time and has held up despite being buffered and battered by the waves 'round here.

2. Try to buy at peak gloom or peak FUD. [Important Note: This approach only works with time-tested alts that have a proven track record of bouncing back. If you get this part wrong, you will be a bagholder!]

3. Wait: if you need to, find something else to do that'll keep you distracted while you wait.

4. Keep waiting - you may have to wait for a long time.

5. When the altcoin market sizzles up again, consider selling - perhaps enough, in combination with any earlier sales, to get back your original spend in fiat terms - and hold on to what you have left. If you pull this off, you'd be playing with what's called "house money," which means you can afford to relax. If your alt hasn't gained that much in fiat terms for you to do so, you might want to sell half to limit your risk which will also relax you.

6. Check up on your hold. Is it still on the growth track adoption-wise? Or is its underlying spread sort-of stuck, like Litecoins's is now? If the former, you might as well keep your money rolling. If the latter, you should give serious thought to getting out entirely.

7. Goto 5 until you liquidate.  

As for the best coin to do this with, I'd have to say Nxt. In BTC terms, Nxt hasn't been all that hard on its bagholders who excitedly bought at the top of an intermediate-term bull run. It has the staying power - price-wise - that makes it a good starter coin for a relative newbie looking to try his or her hand at speculation the long-term way.


Variation To The Above: If you "buy the gloom," it will be inevitable that you'll buy before the bear trend ends. In the stock market, this is known as "trying to catch the falling knife." You can limit your risk of catching the falling knife by spacing your buys over time. With Nxt, for example, you could scrap up $100 this month, $100 next month, convert the found money into Bitcoin and head over to an exchange like Cryptsy or Bter and put your new BTC into Nxt. Do this over time and your average price will be pretty decent as long as you stop buying when the gloom turns to excitement again.

[BTW: I'm using '$100' because, from what I've seen at Localbitcoins, $100 is pretty much the minimum you need to buy some BTC. If you know of a gateway that accepts a lower minimum, by all means lower the example figure I gave above.]


P.S: If you're in the mood for a pure speculation, you can plunk some money into the coin I'm associated with, NFD. If you jump on board the NFD train, though, it's really important that you cultivate the art of patience. NFD is a plain Nxt clone with a rudimentary ecosystem at the moment, which makes it a pure speculation at this time. We're growing it, but we're also growing it prudently; the tech team are big fans of thorough testing. Smiley

If you check out NFD and like what you see, I suggest you buy both NFD and Nxt. Nxt is time-tested, with a lush and growing ecosystem, and is therefore safer than NFD at the moment. Buying both limits your potential gain, true, but it also limits your risk.

This here is sound advice, barring NFD, I'm not too sure about that, but I can't say for sure because I haven't researched it. As for number 5 on that list, the alt-coin market is bound to sizzle up again, currently Bitcoin is in a bit of a slump which is why the alt-coin market is down across the board, however once the price of Bitcoin rises again (in the same way as the November 2013 spike), expect so see some massive gains in the altcoin market.
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August 10, 2014, 02:18:44 PM
 #8

Why aren't you confident with DRK?
You should read up on RC4 which is coming in a week or two.


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Nxtblg
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August 10, 2014, 03:05:08 PM
 #9

This here is sound advice, barring NFD, I'm not too sure about that, but I can't say for sure because I haven't researched it. As for number 5 on that list, the alt-coin market is bound to sizzle up again, currently Bitcoin is in a bit of a slump which is why the alt-coin market is down across the board, however once the price of Bitcoin rises again (in the same way as the November 2013 spike), expect so see some massive gains in the altcoin market.

Fair enough; I did say that NFD was a long-term play that's purely speculative right now.  

But I want to emphasize the point: when the altcoin market sizzles up again, stop buying. Let your profits run on their own. Smiley


EDIT: Here's what CoinSource has on NFD:

http://www.coinssource.com/interview-with-nfds-developer/

No review, only an interview with (mostly) me.






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August 10, 2014, 04:24:09 PM
 #10

LibrexCoin and ShadowCoin look to be the hot not yet really taken off coins lately too. Buy some of those one or both are bound to launch off strong.
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August 10, 2014, 06:41:20 PM
 #11

The altcoin market is currently saturated and stagnant. There aren't that many impressive altcoins at the moment and most are just rehashed versions of other coins.

Those of us who've been here long enough will know that altcoins move in stages. Every 2/3 months there is a MASSIVE gainer in the altcoin market, and subsequently the clones follow suit trying to bank on these massive Gainer's success. e.g.

Auroracoin, which started the country coin phase.

ReddCoin and Heavycoin, which stated the IPO phase. (Not that good market wise)

DarkCoin which started the current Anonomity phase

If you bought into any of the above coins early, you would be very, very rich if you sold them at their peaks. And even if you missed the train for those coins, if you get into the first two or three clones you can still make a ton of money


it's a good start so
let's try to complete the list
----
Litecoin, started the ASICs suck phase.  (BBQ, FTC, Mega, World)

Peercoin, started the 51% attack is bad phase, and "Green Phase"

Primecoin started a brief botnet mining phase.

Quark started multi-algo phase.

Doge started or won the 'anyone can make a coin with meme and $50' phase.  "Fall 2013 Boom/Rush/Bust"

Auroracoin, started the country coin phase.

NXT, Karma, ReddCoin, Heavycoin, stated the IPO phase.

POT, lets not forget the 420 coin phase.

BlackCoin which started the current instata-x11POW2 purePoS phase. "Rapid Base Money"

DarkCoin which started the current Anonomity phase

Cloak started why not Black+Dark phase.

Monero started the cpu is cool again phase but lets use harder to understand software.

And it looks like we are entering ...

Hey we've got $$millions in institutional 'angel' capital lets make are own stellar coin and distribute via our social media platforms.  suckerburg coins

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August 10, 2014, 06:47:12 PM
 #12

NXT, Ethereum and Stellar are the current wave of asset backed coin.

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August 10, 2014, 09:24:48 PM
 #13

Nice, thanks for trying to take a swing @ me. WulfCastle, you're just a FUDster who spreads throughout the sites coins & I'm sure Jhyrachy is just your sock puppet account! Everyone reading this , the smart ones, will do their research on you (past messages/post) & see that you log into one account & back to the next one... But thanks for attempting to assault me, best of luck with whatever you're trying to do here. I was just trying to give Jhyrachy something to research, but didn't think I would be attacked & called a bag holder of the only coin of it's kind... LMFAO, I do recommend people will take your advise & research on their own. Just can't stop LMFAO about your last paragraph, "One last piece of advice that I will give you is try not to take advice from people on this forum". Then why would anyone listen to you, isn't that kind of an oxymoron (contradictory)?

P.S. Thanks for the proof, just watched you log off Wulfcastle & on to Jhyrachy![/center]

o_O
You must be crazy.
We are not the same person, if you just google my nick you'll have known that i use this nick from 2007 in a large variety of site and forum and i'm not the "sock puppet" of anyone.

I'll thank you for your advice but i'm pretty offended by your affirmation.
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