The Litepresence Report on Cryptocurrency

SomewhereInOz said:
Yes that could happen, but to my way of thinking it will only lose three 0's behind the decimal place when BTC adds three 0's to its price or say 2017. But then again who knows as DOGE now at $0.0017 was just in late December at $0.000017. The key thing will be to watch the amount of coins being mined (the rate of increase on the chart - it needs to remain steady) and the mining profitability at multipool.us. So long as mining stays steady MOON will now be on people's radar. Just now Mooncoin has taken a dip back but its #4 in profitability. As block rewards halve for Mooncoin in March this will make it much slower to mine, and by that point I will stop. As I say its a mine and hold for me.


After a 600% increase since introduction to the charts on Monday, and now trading at Cryptsy today, all reason would say at best it will achieve a further short term burst up, but then consolidate back down to hopefully the high teens on the overall list. From there it may go sideways for a long while like DOGE did. All up what was that? A month for DOGE sideways. So in that month could be a great time to mine more while few people are paying the attention to it that they are now.


Yes all the major Alts are taking a hit right now. This BTC price move down is definitely having an effect on them. It will be a very interesting weekend to watch what happens, because by Monday something should happen in terms of positive rebound move for both PPC and NMC. The PPC low of 0.00568 could well turn out to be seen as a very good price.
Click to expand...

Wow, woke up to .0055 PPC . Now that's a shocker.
 
SomewhereInOz said:
Yes, there is RED everywhere except for the DOGE still. Wonder how much longer this can continue?
Click to expand...

Right now, I'm afraid to buy anything other than the really cheap stuff. People are panic selling in anticipation of January 31st and a Fed meeting in New York this coming Tuesday ... or at least that is what the trollbox is saying.
 
For how much longer will the prices fall? Will we see prices as low as the december crash when the china news came out?
 
This Happens a bit @ Multipool

Update: DB issues forced a rebuild. Please switch to Another pool for Now. Things Should be Back to normal by Morning. coins Are safe.

www.multipool.us

Indeed coins are safe and mining is proceeding just fine. Usually they pick a Fri/Sat to do the more detailed maintenance, but sometimes its a blank white page during the week for an hour or so. Nothing to worry about . . . actually its a good thing that they are pro-active in updating their site. Way more graphs and stats than any other mining site I have found.

Mining MOON so already not working as part of the pool. This is a rarity, but I guess the one time when its advantageous to not be going along with the herd.
 
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Dianne said:
Right now, I'm afraid to buy anything other than the really cheap stuff. People are panic selling in anticipation of January 31st and a Fed meeting in New York this coming Tuesday ... or at least that is what the trollbox is saying.
Click to expand...

Two words come to mind . . . "Fear" and "Greed" . . . and this is what trading is really all about. Oh yes, and "Watching the Herd" and always doing the opposite.


When we are seeing nothing but Red on the charts and people are fearful, saying the sky is falling and they are spreading rumours about China and Fed meetings, and this and that, this is "Golden Hour", the time when we hunt out our best Buying Opportunities, because we have mapped it all out in advance and are watching for just these buy signals.


At the opposite end of the scale, when people are euphorious and screaming "Keep buying, this is going to go on forever, YeeHaw isn't Crypto-Trading Great!", we are closely watching our charts and trendlines and plotting our exit strategy.


Fear? Greed? Be watchful for those times when its most visible, because that's when we cash in . . . Ka-Ching! :-)


Anyway, back to figuring out why 0.00643 has become resistance for PPC where no obvious past trade low should be providing this resistance, and what this might mean going forward.


https://www.dropbox.com/s/m6aj8ss0xiu227t/PPC---25-Jan-14---6.jpg


One preliminary theory is BTC is stuck on 3.5% growth for the day and the Major Alts are stuck watching and waiting for its next move.


Still not convinced yet that we won't see a breakdown on PPC over the next 24 hours. As usual, time will tell.
 
Adam Back Interview on Applied Cryptography

Nice thing about trading fulltime, is you get to multi-task and listen and learn as you go:


Part 1 - http://www.youtube.com/watch?v=LT3pGvtZmI8


Part 2 - http://www.youtube.com/watch?v=ZnV7P24HrMU


Part 3 - http://www.youtube.com/watch?v=xbLRKr6XLcw


Part 4 - http://www.youtube.com/watch?v=U9HqEQEpMN0


Highly Technical, in some ways boring as Mud . . . but essential to know this stuff for trading.


Understanding the difference between Sha-256 and Scrypt coins, very important.


Altcoins role in the future of Bitcoin discussed.


Also understanding why a 51% mining attack on BTC is of no concern at all. It won't be allowed to happen.
 
Crypto Top Ten Trading List

https://www.dropbox.com/s/znm43zabfc6yegd/Crypto Top Ten - 25 Jan 14.jpg


At any point in time, click here:


http://coinmarketcap.com/mineable.html


Make sure Non-Mineable filter is applied


Next Click on Header Title "Volume (24) Hours"


Here you have the Top Ten on the move.


Now why has #8, which has put on a 600% increase in the past 6 days, not showing a even deeper Red number? Relatively minor price drop is part of it, but the fact that 400 Million coins have been mined in the past 24 hours is the real reason. Just keep watching it. If the mining keeps up, then its headed up . . . Full Stop! Only reason for a Red number now is that statistics are still relating the past spike and todays minor drop only from $0.00019 to $0.00018. Will it drop further? Could do and in reality it Should do, but so long as its sitting in visible position like it is now, it gains in visibility and people will chase it more and more.


Top 3? PPC is all but destined for 4th spot. Timeline? 2 weeks max (recall the last time I made a 2-week prediction on the DOGE, it eventuated in 24 hours). Implications for 1 Feb? Just keep watching and alter expectations for the spike high accordingly. Will still do well this week, but the DOGE will literally need to die on the vine now for 3rd place not to happen. Reason? Too much volume and the mined supply just keeps growing and growing.

Top 3 Profitable Scrypt Coins right now (multipool.us is back online)

#1 - DOGE - 73.65
#2 - LOT - 67.51
#3 - MOON - 61.99

Keeping in mind that through most of January, the highest profitability number we saw was 42 and the majority of the time the highest was 39.

Do you want DOGE? You bet you do!!!
 
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Planning for a "Potential" Move by the DOGE

As of today, 25 Jan 14, still not a lot of data on the Doge @ Bitcoinwisdom via Cryptsy:

https://www.dropbox.com/s/kjwara0dtzwtxer/DOGE - 25 Jan 14.jpg

However, for what we do have, seems a penant resolution come 6-7 Feb 14, or whatever one might wish to call it.

Remembering also that the DOGE Block Reward Halves on 15 Feb 14, could mean upward pressure then:

http://cryptocoinstat.com/reward.php?coin=DOGE

So a potential win on 1 Feb (PPC, NMC, XPM, etc. etc.) and then back to BTC? So now what to do with it?

As is always the case, your portfolio is your portfolio, so you get to decide.

Also, of course we will be closely watching BTC and the Chinese New Year / Banking Regulation Implementation.

Just saying keep an eye on the DOGE price, the mining stats, the daily volume.


Addendum: Correction, block reward halves on Wednesday, 12 Feb 2014
 
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PaulConventionWV said:
Do you think LTC/BTC is bullish? I used to play the spread, but thankfully got out before LTC crashed in comparison to BTC, and now it seems like there's a slight upward trend developing if I'm not mistaken.
Click to expand...

Round about now with PPC, NMC and XPM doing 10-17% and given their predictability between resistance lines I stick with playing them. Three is enough to try to keep a track of.

As one bursts higher disproportionately, I sell a bunch and recharge my BTC and plot the next placement for the one I think will burst next. It can be a bit of a juggling act right about now, but a few days prior to the New Moon it will all be locked in and things will calm down.

Right now sitting tight on my NMC, but working PPC and XPM. XPM could be a little over done and PPC might be due for a bit of a breather after a run up tonight.

Having a quick look at the LTCBTC chart, no I don't see it as super bullish at the moment, but it should move up a bit. Not like these other three. However, don't count out a big LTC move between now and 1 Feb.
 
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SomewhereInOz said:
https://www.dropbox.com/s/znm43zabfc6yegd/Crypto Top Ten - 25 Jan 14.jpg


At any point in time, click here:


http://coinmarketcap.com/mineable.html


Make sure Non-Mineable filter is applied


Next Click on Header Title "Volume (24) Hours"


Here you have the Top Ten on the move.


Now why has #8, which has put on a 600% increase in the past 6 days, not showing a even deeper Red number? Relatively minor price drop is part of it, but the fact that 400 Million coins have been mined in the past 24 hours is the real reason. Just keep watching it. If the mining keeps up, then its headed up . . . Full Stop! Only reason for a Red number now is that statistics are still relating the past spike and todays minor drop only from $0.00019 to $0.00018. Will it drop further? Could do and in reality it Should do, but so long as its sitting in visible position like it is now, it gains in visibility and people will chase it more and more.


Top 3? PPC is all but destined for 4th spot. Timeline? 2 weeks max (recall the last time I made a 2-week prediction on the DOGE, it eventuated in 24 hours). Implications for 1 Feb? Just keep watching and alter expectations for the spike high accordingly. Will still do well this week, but the DOGE will literally need to die on the vine now for 3rd place not to happen. Reason? Too much volume and the mined supply just keeps growing and growing.

Top 3 Profitable Scrypt Coins right now (multipool.us is back online)

#1 - DOGE - 73.65
#2 - LOT - 67.51
#3 - MOON - 61.99

Keeping in mind that through most of January, the highest profitability number we saw was 42 and the majority of the time the highest was 39.

Do you want DOGE? You bet you do!!!
Click to expand...

I bought some DOGE yesterday. It always seems to trade near the top and there has to be a reason why. Trollbox crying that mooncoin is dead lol... You know those guys. I have some Lotto, mooncoin and doge. I guess I'll sit tight for the moment !!
 
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