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.
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.
PXC is still taking babysteps, even JohnCar, one of the creators, says it isn't ready for a large(r) exchange like BTC-E yet.
Maybe the coins was launched 2-3 months too early, lots of work to be done.
But I'm satisfied with where we are now and things are looking good
It would be nice if more was finished but things changed along the way, like the UNOCS merge deal that wasn't expected by anyone at first.
It's not a 3 month project, nobody ever said it would be, so I'll just give it the time it needs.
If you are patient, hop in, keep some coins, wait.
If you are not, hop on the LTC / DGC train, I think both coins will go up strong
I do both, including some other coins, like ARG, spread out a little.
But looking at the people behind PXC, I feel safe. They know what's coming, I know a little too, saw some great beta stuff already, but I like to be surprised