Post
Topic
Board Announcements (Altcoins)
Re: [ANN][VRC] | VeriCoin | POS - NSDI | VeriBit | VeriSend | VeriSMS
by
ELMER_FUD
on 31/08/2014, 16:27:28 UTC
Which one is the better investment Crypti or Vericoin? I like both coins, but the Crypti community predicts skyrocketing Crypti performance and stagnation for vericoin. What you guys think about vericoin price for the next 2-3 months? Would you invest 10 BTC in vericoin right now or better to wait for the floor?

Just my 2 cents on the situation...

1st - From a technical point of view the current support ("bottom" if you will) is around 6500 stat. That was the previous low before any recent pumps (in late June or early July... whenever that was). So if you want to wait for the low perhaps you can test to see whether it can touch 6500 or even break it. If it breaks 6500 then it will be a true free for all (in my opinion) on how low we can go. So if you agree on that take we are fairly close to the bottom. It might be worth entering a position now, adding some orders lower and then seeing where it can go from there.

2nd take - since we've been in a down trend for quite some time and have had a difficult time breaking what used to be 20k, now 15k - you can wait and put a mental stop order at 15k and wait to see if we ever do break it. You won't time the bottom this way, but by doing this you will protect yourself from buying on a downtrend aka trying to catch a falling knife.

3rd take - what I would suggest: do a dollar cost average and just say I'm going to buy 1 (or 2) BTC worth of Vericoin every week for the next 5-10 weeks. No you won't time the bottom this way but it's a more conservative way to enter in a position. You'll catch some highs and some lows within the greater trend. If you are really confident in holding the position you might as well enter in slowly but surely.

Now whether or not to buy Vericoin vs. Crypti? Well I don't know enough about Crypti to provide any advice on it. Personally I would suggest diversifying your holdings so it would probably be best to buy a little of both, over time - if you believe in the projects.

Best of luck!

Thank you for taking the time and answering. Your post was really helpful.

That was very well stated.  Personally, I tend to read the charts (technical analysis) while simultaneously engaging in fundamental and sentimental analysis.  Having said that, I chose to go with number three but with an emphasis on buying the dips in order to lower my dollar cost average even further.  It's my opinion that the overall market sentiment couldn't be much lower right now (it's about as bad or perhaps even worse than last summer, when BTC dropped from over $200 to $65) and the overall fundamentals are still solid so I buy BTC on the dips and then store enough of it on the exchanges to buy VRC when everyone else is selling it.  If I was disingenuous I would probably join barabass and AltcoinUK in their psychologically manipulative FUD campaign in order to further drive down the price to buy cheaper VeriCoins but I can't do that because I don't want that on my conscience.