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Catallaxy
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I got into trading in order to support missions and ministries. In 1998 it was the wild west of pennystocks. It seemed so easy. So I promptly lost 3/4 of a small inheritance that I got. I buckled down and averaged down on a solid deal that started @ .43 and went down to .023 and then back to... More
  • Park Or Play - Bitcoin And Altcoins A Market Recap 0 comments
    Jun 5, 2014 11:59 AM

    Bitcoin is gaining market traction with increased buying pressure and wider adoption. It could and should be considered an investment at this juncture. Parked for the average investor. Perhaps traded towards various altcoins for those with penchant and skill for high risk and reward trading.

    AltCoins are a different creature however at this juncture and should NOT be considered "an investment." There are ridiculous opportunities for monumental profits within this fledgling market however. Unfortunately there are only a handful of "Coins" that even remotely qualify as an investment.

    The rest that have sufficient liquidity are high risk day trading territory. A lot of people are gaining great wealth and losing great wealth in this scam and wanabe riddled market.

    Trading in Altcoins and making 20% per trade sequence is fairly easy 4/5 ths of the time within a 24 hour period. There have been 1-3 of those opportunities daily. Making 200% in certain situations happens weekly. Remember trade costs are negligible. Bailing on a bad trade can usually be kept under a 15% loss. (Exceptional trade odds ... I know! )

    The one nice thing however in the "Coin Market" is that there are no Market Makers just supply and demand between buyers and sellers that set the market. (There are however coordinated Market Manipulators aggressively working to control markets in highly liquid coins.) I am fine with this since it is organic and offers opportunity to trade between the whale movements of manipulators.

    It goes with the territory that forums are the pump arena for scamcoins. It is far worse than trading on the OTC, Pinksheets and Grey markets.

    While I don't know if "UltraCoin" will make it; here is an article by one of their developers that does a good job of explaining the problems within the Altcoin Marketplace. thecoinfront.com/why-most-if-not-all-alt.../

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