COIN VOLUME the PENNY STOCK TYPE MINDSET

Trading crypto-currency from may 2013, mostly I stuck to peer-coin, prime coin and others worth over 10-20 cents at the time, also the coin market was easier to read being only about 70 different alternative coins to research and choose from to trade in. Then in early December 2013, I purchased Dogecoin which was at the other end of the spectrum due to coin maximum coin volume of 100 billion and a price of the time, something like  .000011 which moved up quite quickly at the time.

So the Penny Stock type mindset can have value for returns (due to holding high volumes in a coin and the movement up and down is magnified due to volume of held coins and percentage of the total coins minted), so for example I have a long shot bet on fedora coin and myself holding 1-2% of all coins minted in the end, depending on the year I sell them, due to the coins minted or mined for that year. I do still like and have these coins, reddcoin, peercoin, primecoin, mintcoin, karmacoin, fedoracoin also other coins like lite coin dark and stealthcoin which could be good movers up in the future, the risks are all alternative coins and bit-coin can move up and down fast.

There is a direct correlation between the market cap, coin volume and coin price, also other factors like pre-mine effect price, plus supply and demand on exchanges, buying and selling. Its the mindset of the world population that drive coins up and down, just like shares, media plays a role also in the mindset of people buying and selling coins, which effects prices on exchanges.

There could be a very good future for tipping coins on social media, I have read there were 14 coins in total approved for FB, these are the coins (The full list reads: dogecoin, digibytes, einsteinium, fedoracoin, mintcoin, reddcoin, quark, worldcoin, vertcoin, karmacoin, earthcoin, trollcoin, HTMLcoin and donationcoin) this list is from an online article /facebook-approves-first-cryptocurrency-tipping-apps/ Helpful links below:

http://www.coingecko.com/

http://www.cryptmarketcap.com/

https://coinmarketcap.com/

P.S (These are my own personal experiences and I am self taught)

donate BTC, Bitcoin   16bzN1pYPGeqKW1jMTJbgHeyMUkSEU5cNR

Share This

About the author

I am a Carpenter By Trade and a Ex-Sapper in the Australian Army Reserve, inventor of the Roofing Protractor, Stair Square and Chalkine Protractor, father of 4 children and married, living in Melbourne also as of May 2013, a Crypto-currency trader, Alternative coins Trader, from 2000 to 2002 I day traded trades shares in the Australian Market, combined with my inventor skills, Military training my perspective can be quite different and methods. I am a keen cyclist, bush-walker, play station 1,2,3 games player, past, soccer, volleyball, tennis, hockey.

View all articles by Derek Pater

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>