Ups and Downs - Today's Strategy
Pre-2017
I always watched the digital currency markets since the beginning of trustless peer to peer crypto coins. From the beginning, as coins forked and grew, I observed that when the bitcoin price ran upward, other alternate coins lost value - like clockwork.
Let's call that "drainage" because it seemed like people were selling off everything they had in litecoin, darkcoin, ripple, and other altcoins in order to buy into the bitcoin rally. That is my theory as to why the phenomenon occurred.
The opposite would happen when bitcoin dropped. The alts would rally on the bitcoin drop as people wanted out of a falling bitcoin and used exchanges to trade their bitcoin for any and all alternatives.
Post-2017
When bitcoin got clogged and there were over a half million new transactions waiting to be recognized by the blockchain and coinbase was hobbing the knob of some politician somewhere in order to continue converting cash to coins, something changed. Bitcoin could run up to new ATH levels and the alts would delay a bit but follow, rallying with bitcoin. Let's call this "inflow" because paper money was more able to flow in to crypto markets. It is my theory that people did not need to keep everything on one side of the crypto/FIAT gateway. There were more options to buy with dollars.
So for the last four years or so, alts rose with bitcoin after a bit of a delay. Then they fell along with bitcoin with some delay.
All of the above is most relevant to large increases or plunges, mostly.
The Recent Rally
I have been focused on buying low value, high usability coins during my silent period here on Leo. I told you about most of the picks I have been dealing with. Continuing strategic dumps of hundreds of thousands of coins that popped up a bit like Doge and Shiba. It is a long process to dump large quantities because I set a mental floor where I stop dumping and wait it out. I also buy back some that were sold at higher prices. My original investment gained back years ago, just maximizing the dump without causing a price drop.
I am noticing a possible change from inflow movement to drainage movement recently. At least, it looks like the kind of environment we had pre-2017. I was watching the coins I hold and as bitcoin ran up this last 10k, I saw a flat period (delay) and I was ready to buy a lot of everything-not-bitcoin to catch the delayed-reaction rally. But what I am seeing are price drops in alts and shits.
This could be people draining out their non-bitcoin holdings in order to buy into the big daddy of coins. If so, we are probably headed for huge increases in bitcoin prices - maybe even the 100k or higher bitcoin price that everyone is talking about. It could also mean a start of the highly profitable drainage environment.
In this environment, I dump bitcoins for alts.
Recently I was using mid-60k bitcoin to purchase $620 bitcoin cash, $170 litecoin, $1.90 part, and hopefully some fifty cent Hive. I would like to have some liquid Hive to buy more Leo and POB.
I have only drained my hot bitcoin wallets. This could just be a delayed rise in reaction (of false alarm) in which case all my buys will be reversed as bitcoin comes back down. As bitcoin hits new all time dollar values, I am moving cold storage to hot in order to pick up some land or other assets in order to get me through the next lull.
I have also found a USDT wallet that has not failed to function and will be putting a chunk there to preserve the high sixty thousand dollar range for later sale if news organizations attempt to cause fear and doubt in crypto again. They seem to ignore important news in order to attempt to control the emotions of people lately. What do you think of all this?
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Electronic-terrorism, voice to skull and neuro monitoring on Hive and Steem. You can ignore this, but your going to wish you didnt soon. This is happening whether you believe it or not. https://ecency.com/fyrstikken/@fairandbalanced/i-am-the-only-motherfucker-on-the-internet-pointing-to-a-direct-source-for-voice-to-skull-electronic-terrorism
I just made $500 on SHIBA INU .. sold it and took out my starting cash times two bought LTC to HODL then rebought SHIBA when price dropped.
Shib is a useless coin. Many have come to me to buy in to it. I tried to send 9 million coins to a friend after he gave me a hundred dollars. When I went to send it, there was a 4.2 million coin fee for the transfer. Hilarious! A $49 fee to send $100.
I have him the choice to get another coin from me and he did. Later I made a killing on it. Mentioned it to him. He told me he tried to buy Shiba from simpleswap and he was charged a 50% fee for that. When he tries to send it out of his wallet, half again will be charged.
Shib and Doge are the only coins I am holding on an exchange. I send Doge to the exchange and dump it. Shib is a side trade that I made while dumping.
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SHIB is definitely a shitcoin.. that doesn't stop me from holding 11M ...
I am on route to 150 millie:)
I think you are spot on with reading the markets and how they are playing out. I am also buying alts right now as they will rise after a delay. Bitcoin I can see easily shooting past 100K and who knows how high it can go. Alts will boom at some point so it is weird seeing them drop like this when Bitcoin is moving up and why your analysis makes perfect sense.
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Nice name! I spend most of my day with those two vices...
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Thanks that is exactly why I chose it. And ezrider comes from where. Maybe you like motorbikes?
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You got me! I am also really laid back - take it easy kind of guy.
I also feel this is the time to dump bitcoin on alt coin, if we noticed, other Altcoin didn’t really run up as high as BTC. But am glad I made the right decision buying BNB and FTT. I’m in huge profit right now.
Is there a wallet to hold BNB? I would have loved to get in on that coin, if it is a coin. But my large investments are either kept in an open source desktop (linux) wallet or they are kept in a hardware wallet. No exceptions.
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Can you use DEX like trust wallets, metamask or even enjin? You can hold them there. I think you can hold them on Hive-engine, not sure though
Thank you for your support @ezrider
Pre 2017 too, I discovered it was mainly all emotions when buying, people bought what they'll consider to be moving up rather than do their research. These days now there are many projects that are even doing better than BTC with their use case, I believe that's why you're even diversified. It eventually pays in the long run. It might not be quick Money but Alts gives people the opportunities to be an early adopter, provided they could just open their eyes and do their research. BTC could even do 200k and many wouldn't still fomo into selling their Alts. It's been a long time, hope you have been good?
Well said! I sent off some bitcoin fifteen hours ago and it finally got its confirmations this morning. That is the "Western Union" use case. Slow and expensive.
I live on crypto so I have to spend it. I need something that is cheap, fast, and accepted everywhere. Litecoin has always been great for buying things. Now Doge, in a fluke, has been put on many sites as a choice for payment. I love knowing that my purchase will confirm before the price moves $1,000 lower.
Monero and Dash work well and both can easily be private but they are not yet accepted everywhere. I miss the xmr.to site.
Then there is Part - public transactions use the bitcoin code and anon transactions use the monero code. I dumped a ton into that coin because of the new market release. I think we will have a winner when Amazon goes full woke.
I have been good. Thanks for asking. Out riding a lot while I can and enjoying life. Heavy trading means more time if front of the computer. Leo will get a post if I am in my chair.
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That is outrageous, so all the while you couldn't have access to that fund and it must have been frustrating. Eth is following along with the ridiculous gas fee and how expensive it is to actually transact on the blockchain.
This is probably the biggest benefit of the Hive blockchain. I believe that feeless features are attractive, by this one wouldn't be limited by how slow it takes for them to actually transact.
Good to have your writing again, maybe more often. Riding is definitely telepathic, enjoy.
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STOPGood to see you posting again! Was curious if you were jammed with your transactions and stuff.
Good deal with the different things you point out. I’ve only really been watching hive, Presearch and some other common tokens to see what they will do for price action. Dreaming to one day have the knowledge to snap up some random coins and watch them go up for a profit and then reinvest elsewhere. In the meantime I’ll live vicariously through you lol
Hive is a prize possession of mine. Shooting for a quarter million profit!
I love the configuration options of Presearch. I have all the blockchain explorers configured. Paste address and click to see how many confirmations I have. It is the only thing that I have configured on all my devices.
Random coins: It is more about percentages and patience than knowledge. I plan to write on that - waiting for more followers.
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Yeah for sure I’m not discounting hive. I love it and the whole ecosystem! Up quite a bit on my 500$ investment that’s for sure! Not to mention Splinterlands, took 4K in liquid hive profit from that as well.
I’m not too deep into the different things that Presearch can do but I love the tokenized searches even if I can’t use the coin itself for anything since it’s on Korean exchanges mostly. Hopefully that improves in the future!
I was wondering when are you going to come back to post and here you are, which I'm really grateful for!
I needed this post while enjoying my morning tea. It just confirms I've been doing the smart thing and I could not be more happy about it. Please keep posting as we need you!
Have a nice day 😊
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Utopis is a nice one maybe.
!BRO
Hey @ezrider, sorry to jump in off-topic.
Do you mind reviewing and supporting the Hive Authentication Services proposal? That would be much appreciated.
Your feedback about the project is welcome too.
Thank you.
I did not know something like this were possible. I read it and it sounds great. You have my support.
Hello.
Your votes on these scam accounts have been decreased:
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The accounts belong to a well-known scammer "mocoyoton".
His group of scam accounts has almost 400 accounts.
Hi.
Even more of your votes these scam accounts have been removed by us:
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melamin