Quote from: webr3 on July 15, 2013, 02:20:54 PM

Quote from: nawazish1 on July 15, 2013, 02:07:11 PM

Quote from: webr3 on July 15, 2013, 01:59:43 PM

This is terrible.

I test out alt coins by buying 1%+ of the economies on market, and roughly the same off market. My thought process is simple, if I buy a decent percentage of all the coins and bump the market, and coins keep coming stronger than I can buy them, then I feel people are holding big and trying to dump.

I bought 150,000+ PXC on market (5% of all mined PXC), and had only two offers to acquire some off market, one person wanted the bid at that time, the other wanted twice as much as they were worth.

After buying and bumping the market several times, it was still going down, and I couldn't move a percentage of the coins I was holding on market for love nor money. So I dumped them all on market and got out. It felt like too much of a risk, for me, personally, at this time.

Regarding PhenixCoin itself. I appreciated that a lot of work is going in to Phenix related stuff, but to me all that stuff is useless and not anything investors I know, or normal people I know, or indeed I, would use - so it didn't really mean anything to me.

I'm NOT saying PhenixCoin is a scam coin, it may do well, as may UNOCS.

tldr; I bought 5% of all PXC on market very easily, could have bought another 8% of coins off market, and another 5% of coins on market easily, and when I can buy 5% of an economy, double the price, and still easily acquire 10-15% more easily then I get itchy feet and dump.

You are right at the moment there are not lots of services where a normal user can use the coins but in the future these type of services will be available. You were so quick to get in and out. you should have waited till the UNOCS timer ends.

That's a risk I was willing to take, given that there were three coins involved, I figured they'd all stay roughly the same value, and didn't see any of them breaking a market cap of about $200k each - I could be wrong though, and frequently am, I'll watch from a far and see what happens.

You should never take any risks you are not willing to carry.
I missed chances by not taking risks but I don't regret it. If it keeps you awake at night, forget it

Captain Hindsight is always right... Grin