RE: PieCoin Masternode: I just grabbed 25,000 PieCoins. Today: 500-900 Satoshis.
This is a great post. Thank you so much. I am more than happy to be corrected, especially by such a thoughtful response. I really appreciate it.
I do like to point to the phrase "do you want to get rich quick or poor fast?". I would venture to guess that nobody wants to get poor fast...
But look at XRP for example. So many people got raped by that coin, not a small volume or pump and dump coin. So many others too. I like to buy double what I want and sell half incrementally as the coin rises, then buy back the same number of each sale - and putting the "profit" in a VERY low buy that will never happen. As the process continues, and the price goes up and down until finally these low bid "holding bins" build up - with any luck - and then I can capture back some portion - or all - of my original investment. Maybe even plus some profit? Changes the equation a bit, yes?
I see a lot of people criticizing various pumper types. Such a drag but that will eventually cost them their integrity to a large enough extent as to diminish their influence. I did not witness the "switch" on chain coin advice/dump event from Trevon. He seems so nice. Hmmmm. Seems like he has a clear conscience.... Hmmmmm...
BUT ALSO: I have been the victim of FUD several times. I sold BitConnect coin right out of the gate at 8 dollars because of all the FUD, then dumped the rest at 12. So dumb. I would have been so happy now with my holdings but I got scared. I actually got my original investment out and some profit with the first sale. I had literally nothing to lose, yet I dumped. I think this is the lesson I hold most closely when doing my final "dump check". Did I get my original investment back? But again, I did not dump at a loss. The loss came after I dumped. ARGHHHHH!!!!
Thanks again. Our brains are getting smarter with each trade. You might lose money, but don't lose the lesson I always say!
And if you don't sell, you don't lose - as I also always say. I remember dumping DASH years ago. Had a ton of it. I would be retired today, several years later. So sad looking at those old spreadsheets. I sold DASH at a loss back then. Running for my life thinking it was done. LOL. Booo me. Boooooooo.
Anyone Chain coin dumping might have the same sadness in a few years. I say move forward, go out and earn more income, sell stuff around your house that you don't need and even go out to garage sales and pick up treasures that you re-sell online - 500% profit can be attained easily on a consistent basis with this "arbitrage" technique. Got that one from a crypto you-tuber. LOL. All options better than dumping? You have to decide for yourself I guess.
Well, the thing about crypto is.. you really have to stick to things that are really good projects. Something like Piecoin or Chaincoin really lacks a solid basis and is mostly just hype and community spirit.. But if you pick a solid project, and there are many coins out there that qualify, you can almost be guaranteed that it will go up. For example right now I have expanded my Stratis holdings, even though it dropped lower than my buy-in price from a while ago. I am not worried at all... I am just sad I did not get ALL of them for the same cheap price, but I know in the long run Stratis will be worth double digits so it really doesn't matter. That's the trick.. if you just stick to markets that are guaranteed winners, the worst that can happen is that you end up holding the bag... but you can always rest assured that at some point the price will go back up again.
It's tempting to get into all these tiny coins since they spike so much pretty much every day... But I witnessed it from closeby, there's really SO much manipulation and shady stuff going on, it's not funny anymore really. About half the time the price that is displayed on the exchange is not really the actual price.. whales are making graphs look just the way they want, to trick people into selling or buying. The main way to win is to pick a winning crypto, and just stick with it until you make 10x. It's a much safer road, and pretty much everybody who made massive gains did it this way. And besides... if you're doing short trades, you'll always miss out on the massive gains because you'll be selling when you see 30% gain.
Some projects I have FUD on as well. TenX gave me serious FUD, so I sold at a measly 10% profit. Looking back, I think I could've done better, probably 20-30%, but the problem was that I lacked true belief in the TenX project. When push came to shove I wasn't sure wether this price was really the real value of the token, since I did my calculations. But still, you can't understimate the power of hype in this market.
On the flipside, you have projects like NEO or Stratis, where I don't feel a thing when it goes down.. I am not worried at all, because I've looked in the project and realize that they are winning formula. So whatever I do in that market is okay, I feel.
Any projects that I am not sure of, I stay away from. It makes much more sense to put more money into a project that I do believe in, instead. And those projects, I just hodl.. It's probably better to sell at tops and rebuy at bottoms, but I know they are going to take off so I am kind of afraid to miss the boat. I did do daily trading with NEO before the boom, but luckily withdrew my sell order just in time when my gut was telling me it was going up! Otherwise I would've sold part at a measly 10-20% gain instead of the 900% I had..
By the way I do think even Chaincoin or Piecoin will be worth a lot more in the future. But by comparison, I think they will not be able to keep up with other, real crypto by a longshot in terms of gains.
Arbitrage? Hmm... I don't do it... You have to remember, every plan you think of somebody else has thought of before. Usually when it seems like there is great arbitrage opportunity, another person has spotted this too and you'll be competing against eachother. Or perhaps you'll find out that there is some roadblock that prohibits you from succeeding (like Bitcoin Cash seemed crazily good for arbitrage during the first days when nobody could move their funds). There are bots that auto-trade between exchanges for arbitrage, and as a human you won't be able to outperform them.
IMO, the true way of crypto for small fish is to buy and hodl coins that are guaranteed winners. It's the only way to beat the whales at their game: you just don't play it!
I got burned by pretty much every major coin. I don't mind parking a few bucks on the cheap coins that have a bit of sparkle. Shiny object!!! The whole thing is nuts in my opinion. LOL.
#payitforward
If you got burned by major coins, I can only assume that you've been buying them when there was hype and gains, and then when it went down you sold.
That's the problem really.. If the projects are truly winners, then if you would have held on, the price would eventually rise back up to a higher level.
Anyway, this is why I don't even bother getting on the train when a coin is already rising, because it will be too late by then. I am pretty pumped about having increased my Stratis position a few days ago still. I'm certain I got them at a steal and they will be going all NEO in a month or two. The only way to go is up, IMO. By the time the hypetrain arrives and all the people chasing the money get onboard, I will rise 5-10x while they risk everything to get 20%.