Particl and ex-ShadowCoin (SDC): Going Super Fast in their Funding Round - A Gamble Trading Story
image source: Particl logo at Particl.io
Through Steemit I started trading crypto currencies very recently. I'm trying out super short term trading, ie holding position in a coin only for minutes to maximum a couple of hours, riding the upward part of the short term waves.
Last weekend based on several triggers, I made an instant decision to go all-in on ShadowCoin (SDC), but didn't know anything about SDC, their history, and about the news they just posted regarding their plans to discontinue SDC and startup a new coin and enterprise, Particl. Since others had this news, a lot of SDC was for sale on the exchanges, the value dropped because of that, and I immediately lost quite a bit of value, 50% or more actually. Frustrated that I was, I tried to make something good out of it still, but in the process of selling and re-buying again and again, I lost another 10% of SDC value.
Then I decided to read up on SDC and found out about their plans. Pfffff, that was kind of a shock, since not that much positive opinions regarding their plans around on the Internet or Troll/Chatbox at the exchange.
Last Monday I decided to take another gamble, give my SDC to Particl including 15% BTC to get their premium offer for exchange of my SDC into the new Particl coin.
Now about 4 to 5 days in their crowd funding, it looks they are able to attract quite some funds. The marker for initial milestone funding by SDC is reached and therefore in the green. The US$ they are crowd funding as well, reached it 3rd milestone already, meaning they pocketed 500k US$ already and now on the way to pocket their 3rd milestone 750k US$.
Still, this doesn't say anything about the success of Particl in what the claim to create, or if they ever will make it happen (ponzi or whatever scheme?), but at least the greens in funding gives me kind-of-a-good feel about their attractiveness to other investors. Already funded with 500k-750k US$ in a matter of days is not small pocket money, and it is fiat money as well, so not SCD holders who will more or less forced to convert to Particl, or BTC holders who bet on anything new out their in the market. Although it is still a gamble, at least the gamble shows some positive signals.
For those, like I, who likes to know what Particl intentions are, in summary:
- Establish a marketplace supporting not only Particl coin, but a whole lot more crypto/virtual currencies
- Complexity of crypto currency conversions shall be under the hood
More information can be found on their website, for those interested, here it is: https://particl.io/
Steem and Trade on!
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"My Transition To Enlightenment" series: Previous articles
My Transition To Enlightenment: 6 Days Of Trading - How I Reach >30% Gain With Low Risks?
My Transition To Enlightenment: How To Trade?
My Transition To Enlightenment: First Hours Of Crypto Trading
Useful
Certainly full on gambling mode. But what you did by averaging in isn't necessarily a bad strategy.
It's the context that matters. If you're averaging at logical support levels (if buying) and you know how much you're willing to risk ... And it has an edge in the long run then it's ok.
Much more difficult and time consuming, but is profitable .
Love the passion, come over to trade-ideas on steemit.chat , only a few of us there but a good place to meet some traders.
Thanks for the invite. Will check in one of the coming days.