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RE: PieCoin Masternode: I just grabbed 25,000 PieCoins. Today: 500-900 Satoshis.
So did you ever hear about Chaincoin? .... Maybe go look it up. Also masternode coin, went up crazy last month. Then crashed and is still not really recovered. Some people are trying to replicate this with Piecoin, I believe. Invest at your own risk.
Will check it out. Thanks.
#payitforward
In case my comment wasn't entirely clear, I meant it as a warning, not as a tip. Be careful.
That's cool. Looks like a great time to buy Chaincoin though. LOL.
But to be honest, you could look at ANY of the coins and say the same thing - including bitcoin - depending on where in time you are.
THIS COIN is using words like FLAVOR, GOODNESS, TASTY, FAMILIAR, JOY, and EVERYONE GETS A SLICE.
And you know what?
I want these things in my life.
I am gonna talk about PieCoin at my local and very amazing Pie Shop. I think they ship Pies and I BET they would be interested in accepting PieCoin. LOL.
Besides, I plan to hold it for ten years just to see where it goes.
How fun is that?
(This is not investment advice. DYOR. Spend only what you can afford to lose. LOSE I say. Zero. Zilch.)
: )
#payitforward
I know where you are coming from. I was one of the first people to get onboard the Chaincoin train and was a true believer of the concept too and was spreading the excitement. I am just saying it left me very disillusioned with the power of the people, and community-driven coin concept.
The worst part was that when, specifically, Trevonjb and Suppoman's groups came onboard, they all supposedly were going to be true hodlers until we reached the moon, but then they both subsequently dumped all their coins on us, crashing the price and leaving many good, honest and trusting n00bs holding the bag. You can look at Chaincoin at the spike and subsequent dump on the charts to see when and where this happened. How this works is you have to keep your finger on the trigger for when it all goes to shit, and the people at the top are the ones who decide when the dumping starts (they will be the very first to push the button). The only way you can win also, is if you are online 24/7 and the very moment they say to start selling, you are amongst the first to dump. Should you be busy that day doing other stuff, and miss the pivotal point, you'll be the one left holding the bag.
Same with Chaincoin, Piecoin seems to try the meme-approach. Chaincoin was massively popular, had cool memes like the Chaingang and everybody was really feeling the hype.
Point is, it's all a house of cards. The very moment a small % starts selling, the doubt and uncertainty sets in. Without very strong fundamentals, the coin starts wavering much quicker than something more established and supported. It creates a death spiral, which will shake out 90% of the 'true hodlers' and make them sell. Look at Chaincoin, once again. You will see the amount of 'true hodlers' represented in the current charts... The point where it's hovering at right now, is the amount of true hodlers that were left after it all came crashing down.
Additionally, I will want to point one more crucial thing out to you, if you do get involved. If this is a community driven thing that organizes strategic buy and sell walls, let me point out 1 very important thing out to you that nobody realizes until they try to get out.
There will be Sell Walls which prevent price from shooting up above a certain point (to maintain price stability), and there will be Buy Walls which are set up about 20-30% below market price, to keep it from dropping to zero and crashing the market. These sound like a great idea, it's to keep dumpers from crashing the price, right? Yes, and no. When you think about it, a dumper really is somebody who just wants to get out. One day, you too want to get out. The moment you do sell some of your coins, what will happen is that between the Buy Wall and the market price, there will be a ton of tiny tiny buy orders which are fake and only there to give the appearance that the market price is the price to pay. In reality, the moment you sell, you will sell a tiny % of your coins at market price. Then the rest of your sell will punch through the tiny fake buy orders like a hot knife through butter, and 90% of your coins will end up being sold for the price that the massive Buy Wall has been set up.
The way this works is that the people setting up Buy Walls are buying up all the coins on the cheap from people who want to cash out, and they are putting those coins right back on the Sell Order to sell them back at a higher price. The people who benefit are the whales doing this trick. They are generating both profits in the coin, but also in btc from all the buying and selling.
Now let's go further... YES, at some point you may own coins that are worth more than what you bought them for. BUT... that's only on paper if you look at what the displayed market value is on the exchange. But the displayed value is not the true value that you will get, but rather is manipulated by the strategic buy/sell walls and the fake, near empty orders in between.
It's a paper tiger. Your value will be the number displayed on the screen but it will not represent the value that you will get.
You seem pretty convinced, so maybe this won't reach you. Just be careful. After witnessing this happening to Chaincoin and seeing people like Trevon getting onboard and pumping it up, then dumping it and bragging on his stream about how he made so much money (over everybody else's back). A couple weeks ago, news was already making it's rounds in the Chaincoin community that they were going to copy the idea and do it themselves with another coin. I think that coin is Piecoin, because it qualifies for all the right reasons.
Good luck.
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.
#payitforward
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%.
Just after writing my response, I just stumbled on this video which explains what happened to Chaincoin last month. Don't just take my word for it, go watch it.
https://steemit.com/cryptocurrency/@crypto-p/the-chaincoin-pump-and-dump-scheme-and-why-you-shouldn-t-believe-everything-you-hear
I know sometimes the charts look great. But keep in mind that in a small market of 1-2 million, the whales who own the most coins can manipulate the price so that a 'perfect' chart appears which will draw unsuspecting investors in. This is exactly why they choose 'dead' coins for this, the market is small enough to buy up all the coins. In effect, the Piecoins that you bought you did not buy from the open market.. They were probably already bought up by the people running the show, and by the time you got onboard, you purchased the coins from them. And by the time you ever do get out, you'll be selling them for less and the losses you made, will end up in their pockets, and they will be calling you the traitor.... That is how this game is played.
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