Long John wrote:Market participants didn't base their decision what to dump today on the number of dApps. They sold pretty much everything on the market list (exception: NEO), with QTUM and its dApps slammed harder than anything else at one point this morning. I don't know why. I don't have anything bad to say about QTUM. They should have dumped Ripple a lot harder than QTUM.
Not true - market participants include the hodlers, most of whom could give a rats azz about the market, as long as there is an overall upward bias.
There have been a number of times when I'll go for a couple of days without checking the prices. I don't even think about it. That's the Zen of being a hodler.
If there has been a big correction since the last the last time I checked, I have no emotional response to it. I do have an intellectual curiosity for the reasons that caused the decline.
Long John wrote:NEO's dApp list is a couple dozen deep, not 1. But I doubt that's why NEO owners held tight through the big sell-off today.
I admit I was wrong on this one, but I've been saying that for awhile, so why haven't I been corrected before now? I thought we're all here to learn.
Long John wrote:
Once upon a time when QTUM was a small fraction of its current price you were warning people not to waste their money on it. Oops. QTUM has done very well in its short existence, today's dump notwithstanding. I was in and out of it a couple times. In hindsight I should have stayed in. But I was consolidating into Bitcoin. Oh well.
I never said not to "waste your money". At that time and price, QTUM was simply water - there was nothing behind it. My perspective was maybe a bit skewed because buyers at $12 were getting the same product I bought at 31 cents. My intention for that post was to protect newbs from getting burnt. It did run higher, but it also fell back to the $7-8 range.
One of the newbs on BS was whining about QTUM being stuck at $12. I told him to quit whining and relax, Qtum will take care of itself, which it has.
I don't understand why you would want to consolidate into Bitcoin. That train left the station a long time ago and you missed it. $1000 was OK for an entry price, but sub $200 was the sweet spot. Besides, Bitcoin is a dinosaur. The only thing it has going for it is first mover status, name recognition, and the fact that there is a lot of institutional interest and infrastructure in it. That's a lot of what drives/supports the price. It is hard to imagine Bitcoin ever being a currency. Bitcoin Cash.....maybe.
It's going to be interesting watching the big money short Bitcoin down to $7-8 thousand dollars to scare the crap out of us little guys. Reddit/r/bitcoin will sound like a nursery. The hodlers chuckle, because they know this is just a big experiment, albeit profitable, that is still in progress.
You'll make a lot more money by just picking a good ICO like QTUM, buying it at the issue price, and sitting on it. Let's walk thru the math.....
1900 QTUM cost me $596 in Bitcoin. Last Saturday night when it was at $103, my position was worth $195,700. Right now, it is worth $105,000, and that is from a $596 investment.
Let's talk about another one. Me and 11 thousand other people ground-floored Ethereum. I bought 1000 at 31 cents...yeah $315 for a 1000 Ether. I traded in and out of it a few times, and each and every trade was profitable. I sold out after the DAO fiasco. Again, I made money on ETH.
However, if I had just sat on my $315 investment, it would be worth over $1 million dollars today. I'm not going to make that mistake with Qtum.
Buy and hodl - that's how you make money in these things, not going "in and out a couple of times". Sit on your hands, and don't click the mouse. I'd rather do that then trying to make (or lose) $500 by trading. Traders like to talk about their profitable trades, but they never mention their losses. Plus, you don't have to thumb your phone every 15 minutes.
Congrats John, on your 1st year in crypto. You're no longer a newb.