Maybe just a coincidence but major PPC/BTC dump took place 08/08, day when Gavin Andersen announced IBLT as a possible solution to part of scalability issue.
It’s very interesting and innovative concept. It won’t solve all problems and probably will generate few new ones but nice to see some light from BTC core team. PPC fundamentals still valid.
I wonder what would happen if Bitcoin crashed down by 50% lets say, which is possible.
Will Altcoins follow and drop by another 75% from the current low levels? That would be the typical overreaction that everyone would expect.
Somehow I can’t believe that - with over 10.000 new registered users at bitcointalk.org every month, Marketcaps of the big Altcoins shouldn’t go much lower from the current levels.
Anway, felt great to buy more PPC today at 0.00148. - When you first informed yourself about Peercoin in December 2013 it feels like a dream becoming true to be able to finally pick up cheap Peercoins today.
Actually I had read about Peercoin briefly in April 2013, but thought it was too inflationary back then. :-\
The best strategy in Crypto is hold your coins, if it is not an absolute pump&dump coin. Do you really think price will never ever go above 5 USD or something?
The price will go up because of the low amount of newly generated coins and if that isn’t enough then wait for a bitcoin pump, because alts will be pumped at the same time or a little bit later even more.
One more thing that might make PeerCoin go up, The government scaring the public about global warming, They could easily use that card against bitcoin in a year or so from now.
When network will be consuming ~5 Gigawatt…
Peercoin’s security is sustainable.
The best bet I think you can do, when swing-trading, is to buy when price touches the lines from above and sell when price touches from below: http://i.imgur.com/n7Tqkes.png
For trend following, just buy whenever it touches the lines from above and then when prices goes parabolic start selling gradually, so you get some more money to buy once it crashes again.
Always keeping some money at hand if it crashes, never selling all coins when it goes up and always thinking in terms of “averages” and “percentages” and never in terms of price.
Also, when ever you make a ton of money, move some of that money away from the coin to another asset entirely to diversify.
As long as the longer term trend is able to sustain itself, you will be making money. Since you don’t know if it will, don’t bet with money you can’t afford to loose. When the longer term trend is over the game is up and since its difficult to know for sure when that happens, always move some money away to another market entirely.
:-*
@pillow, I agree with most of your strategy, but principally I’m not actively trading (just holding or buying. only selling when I need the money for something else).
The only thing I haven’t heard you about is the curious balance between a number of altcoins, e.g. PPC/LTC and PPC/NMC. There might be more of those. There seems to be a trend keeping them on the same rates between each other (e.g. PPC/LTC 1/7). When you have traded against these values you couldn’t go wrong in last 8 months despite some temporary fluctuations.
I’m afraid that there are some bots from whales at work here as I struggle to believe that this is just market pricing. It can also be related to the human tendency to go for round and historically known numbers. Thoughts?
[quote=“Cybnate, post:26, topic:2773”]@pillow, I agree with most of your strategy, but principally I’m not actively trading (just holding or buying. only selling when I need the money for something else).
The only thing I haven’t heard you about is the curious balance between a number of altcoins, e.g. PPC/LTC and PPC/NMC. There might be more of those. There seems to be a trend keeping them on the same rates between each other (e.g. PPC/LTC 1/7). When you have traded against these values you couldn’t go wrong in last 8 months despite some temporary fluctuations.
I’m afraid that there are some bots from whales at work here as I struggle to believe that this is just market pricing. It can also be related to the human tendency to go for round and historically known numbers. Thoughts?[/quote]
Yes human tends to focus on known numbers, even numbers and things like this. In this case with PPCLTC (http://www.cryptocoincharts.info/period-charts.php?period=alltime&resolution=day&pair=ppc-ltc&market=cryptsy) it seems to me as though there is some kind of pair trading (http://en.wikipedia.org/wiki/Pairs_trade) going on or something like that.
Personally I believe there have been very little actual real use of crypto currencies and that trading is what really moves the market. I know a lot of people talk about the unpredictable volatility in these markets, which I don’t agree with. To me, the trading looks very technical and as long as I’ve been doing this, I’ve had the feeling that there are some professional traders out there, making money by trading against crypto nierds who knows nothing about trading. I’ve got no evidence of this, only a gut feeling.
A famous professional poker player said that the most important thing is to select a poker table with n00bs with money.
For profit or loss, I took the plunge to invest in a whole load of Peercoins today, the price was 0.0155 BTC per PPC… Obviously you have to be prepared for ups and downs, but those 2000+ peercoins are going to be quietly left to mint away and hopefully in a few years or even longer I’ll look back on today an give myself a high-five…