Black Tuesday for altcoins!

[devphp]

Perfect time to buy your favorite altcoin, if you're sure about its future of course

[Hfleer]

Perfect time to buy your favorite altcoin, if you're sure about its future of course

Yeah, I loaded up on NXT and another 2.0 coin.

[akujin]

Whales are cashing out because BTC is going down 

You mean they have prior info about a btc drop?

so they cash out everything to btc and then from btc to their nation's currency tomorow

Maybe they know it's going down 

[nutildah]

Maybe the bubble has finally burst. I hope not. Time to do some coinsolidating.

[devphp]

Perfect time to buy your favorite altcoin, if you're sure about its future of course

Yeah, I loaded up on NXT and another 2.0 coin.

Which other 2.0 coin? Just curious, I might check it out too.

[hyunsookmom]

Quality will rise, that's why Qora is steady and has been rising in this slamdown.


Massively undervalued, impossible to crash from this price IMO.

[nutildah]

IF the bubble is not bursting (and that's a big "if"), I would be inclined to buy the coins that haven't been sinking in value with the trend.

Its really hard to know whats a surefire win these days given the fact that even bitcoin is facing strong headwinds at the moment.

Mass adoption is everything. New fancy widgets and names are nothing. Anonymity... will always be something, but perhaps the market for "anonymous" coins isn't as big as all the speculation would have you think.

If you are of the "buy when there's blood on the streets" mentality, well first of all, you ain't seen nothin yet, but second of all just because a coin goes down doesn't necessarily mean it has to come back up.

So buy the coins that haven't sank much or even gained value while the bloodbath is happening all around them.

Just my long-winded advice.

(ps: if the Winklevii ever made a Triple Leveraged Short Altcoin ETF I would be all over it right now)

[fluffypony]

IF the bubble is not bursting (and that's a big "if"), I would be inclined to buy the coins that haven't been sinking in value with the trend.

I fully agree: https://i.imgur.com/gyMMHcC.gif

Mass adoption is everything. New fancy widgets and names are nothing. Anonymity... will always be something, but perhaps the market for "anonymous" coins isn't as big as all the speculation would have you think.

I fully agree: http://imgur.com/a/ERheR

[Puberty]

Quality will rise, that's why Qora is steady and has been rising in this slamdown.


Massively undervalued, impossible to crash from this price IMO.

Not really. Qora has been hovering around the 20 sats/$1 million MC for a very long time. Sometimes it goes a bit up, sometimes a bit down.

[trader001]

There is blood and body on the street.

Traders must find a place to duck and cover for a while.

[akujin]

As expected. bitcoin going down.. LOL! 

[TaunSew]

The interesting thing is that the Alts were going down like a day or two before Bitcoin did.  What did the alt holders know that the Bitcoin masses did not?

[subSTRATA]

Well folks, we all knew it was going to continue like this forever. (images of titanic come to mind )

I wouldn't say forever. If you were around last November you'll remember this is exactly what happened.  People were panicking and freaking out cause alts we're completely collapsing.  Little did people know that was the best time to buy all you could afford.

First off, I was. Secondly I think this is just round one. Lets see what the next couple of days bring... Don't get me wrong though, there will be a time to buy but honestly only a couple options will be worth it.

Any cheap altcoin (low marketcap) which is traded on at least 1 good exchange - especially exchanges that does not remove coins (Cryptsy, Bter) - is a good investment right
now but do not buy too much coins in one trade, spread investment over multiple smaller buys and over a few weeks period. As always, nothing beats a good strategy (plan).

Bitcoin is going down also.

If all alt coins are denominated in bitcoin, shouldn't this be considered normal?

No, because the coins go down by a factor of 10!

Exactly.  But also, when Bitcoin pops hard most alts go up by a factor of 10-100.  The key is buy them at the bottom which I think is now...or maybe in a week or two.  We're definitely near the bottom I would say but I thought so last month.  lol.

Or those high market caps were fads all along and there is no real floor. We will see soon enogh I guess

None of cryptocoins have real floor. No matter what anyone say, zeroes and ones can not have intrinsic value. What they have is utility value and it can drop to and stay at
zero - one major sunspot or EMP incident and all electronics gonna end burned so what use cryptocoins would have? Anyone investing in cryptocoins should be aware of such
scenarios at all times.

[foxkyu]

many altcoins are just having a meltdown... does anybody know the reason?..

yeah
almost all my altcoin minus
when i see my balance on the exchanger i feeling sad 
hope it will rebound soon

[counter]

You can't say Cryptology is a wast of time because an EMP could talk place maybe one day.  That is like saying why build the electrical grid or use satellites because if an EMP or whatever comes takes place they will all be wiped out also.  That doesn't mean we can't benefit from their use from now till then if it even happens at all.

[vuduchyld]

Well, I've been doing some work that I haven't shared, but this seems like a good place to do it:

Indexes were all balanced at 100 just nine days ago at noon.  Info source is coinmarketcap.com

These figures are from about an hour ago

Index 1: cap-weighted, includes all cryptos except BTC is now 77.86
Index 2: cap-weighted, includes all cryptos except BTC and LTC is now 83.79

(These indexes are imperfect because coinmarketcap has added 5 or 6 cryptos in the last nine days, which skews them a little high.  Interesting that the HUGE dump by LTC has such an impact)

Index 3: cap-weighted, includes a basket of 31 NON-LTC cryptos selected by cap/volume metrics is now 76.44
Index 4: cap-weighted, includes the basket of 31 PLUS LTC is now 73.6

(I think Index 3 is actually the closest to what I'm trying to accomplish, which is to judge the general movement of the alt market as a whole.  I created Index 3 and intentionally left out LTC because it was so much larger than the rest of the alts and I wanted to gauge the movement of my portfolio against a representative sample.  Again, note that LTC influenced lower.)

Index 5: price-weighted version of Index 3 is now 79.81
Index 6: price-weighted version of Index 4 is now 77.46

(Dow Jones is price-weighted.  S&P, Russell, most others are cap weighted.  I just set these up to see if there would be much difference.  Again, LTC provides downward weight.)

Meta index is 78.16.  This contains elements of all above. 

My feeling is that Index 3 is the one that alt traders would find to be the most representative of general market direction, but I'm open to any feedback if y'all have some.  This weekend, I will re-balance the basket.  I'm using strict cap/volume statistics to mechanically re-balance.  Right now, the basket is 31 cryptos, but it's possible that it could drop to 26 or go up to 36 representative examples. 

I'm planning to seek out some help from somebody who can integrate API so that I can put some or all of these indexes up on a website that updates every 5 minutes along with coinmarketcap.com. 

TL:DR If your alt portfolio hasn't dropped by 23.66% in the last nine days, you might be beating the market.  If this kind of info is helpful to you and/or if you can help me put together a simple website so that alt traders can access this info, hit me up.

[Equate]

Maybe the bubble has finally burst. I hope not. Time to do some coinsolidating.

Same statement is repeated every few months , and still we have Bitcoin at $500+.

[Hfleer]

You can't say Cryptology is a wast of time because an EMP could talk place maybe one day.  That is like saying why build the electrical grid or use satellites because if an EMP or whatever comes takes place they will all be wiped out also.  That doesn't mean we can't benefit from their use from now till then if it even happens at all.

Exactly.

Also I think that cryptos do have intrinsic value: The time it took to implement everything

[subSTRATA]

You can't say Cryptology is a wast of time because an EMP could talk place maybe one day.  That is like saying why build the electrical grid or use satellites because if an EMP or whatever comes takes place they will all be wiped out also.  That doesn't mean we can't benefit from their use from now till then if it even happens at all.

If it even happens at all? Like it never happened so far? I suggest you to check for some facts and history on topic, posting fiction and bullshits around makes you less credible.

[TaunSew]

EMP who?  You realize banking this day and age is all digital right?  EMP over the US and all your savings account would state: "$0" as the banking servers are centralized in a few locations. 

Better yet, as we saw in Iraq, all you need is a few guns and an USB stick to rob $500 million.


Crypto currencies are decentralized - for you to wipe out a crypto currency you would have to EMP the whole planet and somehow wipe out the internet (which was built to withstand a nuclear war).