Its a great sunday today this november to remember in 2015. Bitcoin is 7 years old and we’re still around, enjoying this multibillion dollar experiment (as some would put it). I’ve been a user of Cryptsy for a long time, even had a time where I too was locked out once, but logged in without issue. However today is about my trading activities, with a bonus review to cover their site update. Full disclosure: The link above is a referral link. I use them occasionally instead of soliciting for donations, deal with it.
This round I’ve taken a stern look at my strategy – I’ve been holding a basket of coins I liked for laughs such as doge, potcoins, gamecoin, infinitecoin, megacoin, quark, americancoin, and androidtoken. I think there’s some of the other alts listed in there as well, hold on let me find a screenshot:
If this is your first rodeo, (welcome to Bitcoin by the way!), then you don’t realize that these are all junk coins (in my opinion) They came out at a time when I was trying to speculate with them, then let things fall off so there is likely to be no gain from holding them or even from speculating with them, unless I plan to manipulate exclusively (which I don’t really have time to be bothered to anymore, anyway). The objective of today’s activity is consolidation. I plan to switch up my basket of top balances to look like LTC, DOGE, ETH, NMC, POT, etc. I have some DBL, 😢 lost 90% value of 16 LTC since I touched it early last year. I wish I could sell it but feel robbed if I were to do such an action so I’d rather hold it. Looks like I’m a sucker for torture as well, I’ve decided to pocket a little bit more, it was 4/10ths of an LTC for 3K, how can I lose?!?
In case you read some of my past Activities, I’m definitely still overleveraged on EZCoin. I now plan to off dump that into some ETH by way of selling for LTC then Rebuying said Ether. A couple seconds later, along with my horded cache of a whopping 18-ish LTC, I’m now flush in a sell order for a cool 67 ETH (which I may or may not use on Augur Later):
The more I look at things, the more I’m upset with how many of the markets I was extended in have turned out. Whenever you see a market that looks like this:
There is a major problem. This market, Fireflycoin, which looks to have been started by Jude Austin (of Bitcointalk) is definitely dead. Another market, Infinitecoin, looks even worse, with a single satoshi being left over as the bottom buy price. I feel that Cryptsy takes inactive accounts with balances of these coins and uses them to to fill in the single satoshi sell wall offered such that users have the option to liquidate at a great loss – while also still paying fees to cryptsy for trading as a result. (making me like this service less as I continue to type on). Really feeling that the whole experience with cryptsy is to be a crypto-factory to gain on fees from the pump/dump marketing of greedy manipulative coin developers. Well, that basically sums up my feelings on things, I’ll be posting another review on the site modifications they have done and more trading activity soon.