Re: The Bullish Media Center (The 1 stop Bullish BTC news source)
Also, when I said I'm officially 52/48 in BTC/ETH, that was only on BitFinex. I also have and trade Bitcoin on Coinbase and BTC-e. I don't keep all of my eggs in one basket in case one of the exchanges I trade on get hacked. So, I was 52%/48% into it for trading purposes to make gains and not for any thoughts of it being a legitimate player in crypto. Not enough time has passed to convince me of that.
Well, fair enough. Seems like you and I are engaging in some similar practices of distributing some of our funds in various exchanges, and sometimes also we are keeping track of distributions of coins in various regards. Personally, I have found it quite a learning experience and handful for me just to keep track of my various BTC holdings and potential arbitrage opportunities therein and risk management therein, and I had dabbled a little bit with some other coins, but really I found that I was not really personally ready (nor my BTC portfolio) for adding other coins to the complexity of my BTC holdings - and even in light of my other fiat based financial investments.
It's definitely the way to go [Multiple exchanges]. After Mt. Gox and Stamp getting hacked, it's better to be safe than pissed!
The only reason I get involved with other coins is to accumulate BTC. I have yet to find another crypto I can find confidence in for the long term. So, most of my trades with those alts are with BTC. I occasionally sell an alt coin for USD and then buy back into BTC with USD. However, it is rare going that route with the fees is more profitable than just selling the alt coin for BTC.
I'll attempt to give a very summary anecdote to illustrate this point. I started buying BTC in November 2013, and I bought all the way down, and throughout 2014 and most of 2015, whenever I sold any BTC I replaced them within about 24 hours because I considered that my BTC portfolio was not in a selling position (mostly because it was overall in the red through most of that time). Since BTC prices remained so low through most of 2015 (mostly in the $200s), I was able to sufficiently acquire an adequate number of BTC throughout that part of 2015 in order to begin to trade in October 2015. I accomplished this "beginning to trade" position by conceptualizing my BTC portfolio more or less into three divisions: 1) those BTC acquired under $280; 2) those BTC acquired under $380 and 3) total BTC holdings. Anyhow, initially, I authorized BTC trading only in terms of the first conceptualization, but as BTC prices rose, I was able to increase my authorizations because my average cost per BTC went down and I was slowly able to increase personal BTC trading authorizations.
I found myself doing the same thing back in April through May of 2015 with the LTC pump and dump. I bought LTC several times on the way up and had to keep up with how many LTC and at what amount to make sure I did not do more harm than good in future trades on the way up. At least that's the way I approached it while accumulating LTC during the pump. Once we started having consolidation (small dumps) on the way up, I stopped keeping up with it. The volume was so heavy and it was so easy to sell the amount you wanted to when needed that I would just sell all my LTC when a small dump would occur and buy back in on the dip when it would begin heading back up.
Pump and dumps with alt coins have to be handled differently from what you were doing with only BTC/USD trading during the bearish trend we had in all of 2014 and most of 2015. I had that same thing in mind [To keep up with quantity and at what price] in the beginning when I bought in at 0.0065'ish to 0.012'ish on LTC/BTC. As time passed and I began to see the consolidation moves during our climb up, I made the decision to dump everything on those consolidation dumps and buy back in with all the BTC I accumulated after selling the top before the consolidation dump. They were 100 to 200 pip moves each time it seemed like. It was glorious!
I had a total of 46 bitcoin at the time. I used 36 of that 46 bitcoin to accumulate BTC during the LTC pump and dump we had last year. Most may not have been willing to risk that much of their BTC bank roll. However, I saw what was coming and was determined to capitalize from it without risking everything.
ETH is NOT a pump and dump like LTC was last year at the LTC block halving. I do believe a form of pump and dump trading will commence with ETH but mainly because of DAO's dumping to gain FIAT for capital in FIAT to conduct business. Those are the dips I intend to jump in and sell on or near the top of waves.