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Showing 6 of 6 results by cnr_crypto
Post
Topic
Board Altcoin Discussion
Re: If Bitcoin dies does altcoin die?
by
cnr_crypto
on 11/09/2017, 23:46:37 UTC
I think that altcoins usually reflect the price of Bitcoin. When Bitcoin is down then typically the altcoins are down. When Bitcoin is up then typically the altcoins are up. If Bitcoin collapses then all the altcoins will probably collapse as well. The only circumstance where I don't see this happening is if another cryptocurrency rises to the top and Bitcoin falls apart. That new cryptocurrency would act as the new benchmark for all the other cryptocurrencies. In this case, altcoins may be affected in the short term, but would continue on their way as if nothing happened.

This is perhaps the most interesting theory. We have all seen the graphs - when BTC falls, alts fall with it, often magnified many times in regard to price and market cap because of the relative lack of confidence in altcoins. What is even more interesting to look at is what coins do not follow BTC when it falls.

Example: Two days ago, I was watching BTC fall between 3-6% and all the altcoins 24hour%change go with it. I was scrolling down coin market cap and saw something interesting - ARK was posting a -2% 24 hour change, but the graph was steady, even increasing a little bit. All the rest of the altcoin graphs had the same dip BTC had, except ARK. The question of "why?" then has a couple possible answers:

1. The ARK community is following a signal that overcomes the overall depression of the market caused by falling BTC price;
2. Exchanges are manipulating the price;
3. Some other party is manipulating the price, or buying significant amounts because they know something the rest of the market does not, and/or;
4. ARK does not follow the musings of BTC price.

Out of all four of these theories, #4 is the least likely to be true. Therefore, the price is going up for a reason, and is very possible depressed artificially because of people who are selling and DON'T follow signals others are following. If this behavior persists beyond the BTC depression on the market, what is the actual rate of increase we should expect from ARK in a positive market? Well, we have that answer.

During September 9th, Bitcoin fell considerably. ARK, however, posted a ~3% increase after all was said and done. BTC dropped 7%. But when the day of the 10th begins is where it gets interesting - BTC was fluctuating between a low of $4120 USD and a high of $4364. Up until this point in time, BTC has been bouncing around this range (@ 4219 as I look at it). As soon as BTC had an upturn, ARK started a steady climb. From the 10th till now, ARK has had an ~24% price increase.

BTC posts -7%, ARK does +3%.
BTC posts +2% gain, ARK does +24%.

This is what I find to be most fun about Crypto - finding the weird signals that go against the goliath which is BTC. Why? Who the fuck knows.
Post
Topic
Board Speculation (Altcoins)
Populous (PPT) Flash 370% Price Increase
by
cnr_crypto
on 11/09/2017, 05:13:03 UTC
Price went from 3.51 to 13.05 USD - Market Cap from ~144.6 MM to 538.2 MM USD around 3:10 AM UTC.

Volume on exchanges was low. What just happened? Did someone fat-finger something?

Link to coinmarketcap - https://coinmarketcap.com/assets/populous/
Post
Topic
Board Speculation (Altcoins)
Re: China ICO banned >>> ETH and tokens raise?
by
cnr_crypto
on 08/09/2017, 23:57:36 UTC
ETH is gonna die when NEO gonna unleash it's full potential, mark my words Smiley See ya in 2018Q1 / 2018Q2.
90% of all ETH ICOs are pure scam, only few are worth mentioning.
What chinesee did, is to not ban ICOs, but get regulations, so 99% of scam ICOs won't pass thu them. Only the ones worth investing prevail, so our - investors - money, will go to decent developers, and not scammers.
Where in the hell do you get the "90% of all ETH ICOs are pure scam" statistic from? Granted, many of them are unoriginal but I would argue that a minority are actual scams.  Furthermore, it will take A LOT of major fuck ups within the ETH community to completely divert people to NEO or other Chinese-backed currencies. Remember, we are talking about a government which controls all aspects of every industry within, and many outside, of its traditional borders. People talk about fear of SEC regulation, but at least the process to that regulation is fairly transparent. The "Party's" regulation process is one you won't know about till it reams you from behind.
Long term, there is no way investors with legitimate concern for where their money is being held or who it is being held by will invest in an organization backed by an opaque regulatory organization.
Post
Topic
Board Altcoin Discussion
Re: Do you hold chinese Altcoins, and will you keep holding them?
by
cnr_crypto
on 08/09/2017, 22:34:25 UTC
I do not hold any chinese altcoins, at least not any that I'm aware of. I'd worry a little bit that China will pass new legislation that isn't too great for altcoins in general.
Does anyone know of some specific altcoins that were developed in China? Couldn't even think of one to be honest.

NEO, Walton, HShares, Binance Coin off the top of my head.

I'm a firm HODLer when it comes to whitepapers originally written in my first language. For NEO, I did +120% then sold because I honestly didn't understand the crypto regulation ecosystem in China and I still don't. After the first news of the ban on Monday we get this list from Caixan of ICOs that are banned, but it's all in fucking Chinese. The time it takes for me to hear news from China is after the majority of stakeholders in these Chinese Cryptos have already begun to react, which makes me uncomfortable.
Post
Topic
Board Speculation (Altcoins)
Re: SysCoin Speculation
by
cnr_crypto
on 08/09/2017, 22:14:31 UTC
You are a little bit late to invest in SysCoin.

In August 18 its price: $0.1
Now it is $0.32

Although there are 2 developers in the team out of 6 people, partnerships and segwit are still enough reasons to invest in sys.

Why am I late? Do you think SYS lacks potential for growth in the long term? I've +70% on initial investment, considering today's dump.
Also, the team is appx eight people now (asked about updated team info on Slack).

I'm very optimistic on this project for a long term hold. I don't see this as a pump and dump or short term type of trade. Blockmarket Desktop is being released Sept 12, masternodes in Nov, Blockmarket Web in Dec. lot and lots of stuff coming:

https://medium.com/@BlockchainFoundry/blockmarket-desktop-release-date-d3a63acda1ed

https://medium.com/@BlockchainFoundry/core-research-and-development-update-503e450b380c

https://cdn-images-1.medium.com/max/1600/1*CohKqEvY0bGkUqJVJA3LXw.png

This is my exact train of thought. I've put my Sys into the wallet and it's going to stay there.

Post
Topic
Board Speculation (Altcoins)
SysCoin Speculation
by
cnr_crypto
on 08/09/2017, 07:07:04 UTC
What are everyone's thoughts on SysCoin? I bought in 3 weeks ago because
  • Partnership with Azure (I know I'm a dirty signaller).
  • Team's LinkedIn profiles looked good, especially for a coin with Marketplace (lead dev is a UI dev, and a seemingly good one at that).
  • Slack answers were straightforward and I got quick responses about a variety of questions.
  • Already implemented SegWit

With the marketplace release in 5 days I don't plan on letting go of SYS anytime soon, but what are everyone's thoughts after that?

Thanks