Quote from: kehtolo on March 29, 2017, 09:45:06 AM

Quote from: European Central Bank on March 29, 2017, 08:35:44 AM

Alts ain't for hedging as far as I'm concerned. They're for gambling.

If you're looking to diversify your retirement fund you don't walk into a casino and throw everything down.

Exactly. Altcoins are pump and dump. A casino. You see the rises, +300 +500 +3000% and think wow, bitcoins is going down, civil war BU Core bad for price.
And think, I want in on that action.

You are too late, you will be scammed.

All the rises that took place happened a few days ago. You missed it. Entering now is far, far more dangerous than it was last week.

The smart money at that casino has already taken their chips off the table.

That is profits in.. what? *Drumroll* --- BITCOIN.

And that is the only reason anyone trades alts. To (hopefully) increase the number of bitcoin they have.

If you want to do this, its a good idea to get in before the pump has started. Not when it is finished or nearly finished.
All that happens next is the price drops down on these coins. Especially the thinly traded ones.

Just a word of warning.

Each to their own, but for me trading alts has been a very good move. You do need to know what you are doing though.

edit: I'll qualify it a bit, its not so much trading in my case. Rather I'd describe it as researching first. Find some crypto(s) with fundamentals you believe in and are willing to hold long term. Make sure you are able to hold them securely off the exchange so you are protected in event of govt intervention, hack or whatever and also less tempted to trade badly. Wait for a good price point to start accumulating, ie don't buy when it is rising 100's of % instead wait until after a fall daily MACD looks to be turning back up. Wait patiently. When it starts looking overbought, take some profits (add to another coin, maybe bitcoin or another).