Tezos could sell all at once, which I think is unlikely, sell large portions weekly (likely), or only sell a little bit and wait around to pounce later on upward momentum. I'm not going to use their wallet size as a sole driver in my decision to buy back in, but it will be a bigger factor in that decision depending on whether they have started to sell off yet or not. As in, if they haven't started to sell yet, I will be more hesitant, but once they have started moving some of it, even if a lot is left, I won't be as concerned.
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Cryptocurrency |OT| Nothing from Money
- Thread starter Brandson
- Start date
Tezos could sell all at once, which I think is unlikely, sell large portions weekly (likely), or only sell a little bit and wait around to pounce later on upward momentum. I'm not going to use their wallet size as a sole driver in my decision to buy back in, but it will be a bigger factor in that decision depending on whether they have started to sell off yet or not. As in, if they haven't started to sell yet, I will be more hesitant, but once they have started moving some of it, even if a lot is left, I won't be as concerned.
CaptainZombie
Member
When is Tezos most likely supposed to start being sold off? I had read on another forum that some were thinking as of this weekend.
Nobody knows. They could have been selling already, but they haven't. Their ICO officially ends sometime on Thursday. They could start selling then, or the next day, or just wait for a while. At least some sale action from them is likely within the next two weeks I would say.
CaptainZombie
Member
Thanks for the info. It might be wise then to just wait it out another few weeks to see how Eth prices shake out. Looking at it the last hour it is trying to get back under $200 again. Sucks that this tech is tied to those stupid ICOs that are doing nothing more than damage.
They would hold the sale auction on their website, I assume?
The normal way for an ICO to sell their crypto holdings is to transfer to an exchange. To find out when that is happening, you can check Tezos' ETH wallet status here: https://etherscan.io/address/0xb56d622ddf60ec532b5f43b4ff9b0e7b1ff92db3
An advantage of a blockchain, is you can't hide your movements of Ethereum. When it gets transferred out to an exchange, there will be transaction logs on that page, showing how much ETH has transferred out and to what address. If you follow those transactions, you can see when it arrives to an exchange. It's reasonable to infer that when a large amount of ETH gets transferred to an exchange, that they intend to sell it there soon.
Oh, so that's specifically their ETH holdings. I'm more wondering where XTZ will be able to be purchased.
They will make an announcement when it's ready to be traded. Tezos' blockchain isn't deployed yet publicly, so XTZ can't be easily traded. They previously said they plan to launch about 2 months after the ICO.
walking fiend
Member
I don't use margin trading to go over my assets; let's say I have $1000, I'd margin trade at $350 with a multiplier of 3x; it is just that to utilize the down swings, you can't do anything but margin sell.
Nice ETC bump though; did it go on sale on a Chinese exchange or something?
CaptainZombie
Member
ETC was just added on to Huobi.
walking fiend
Member
Dzng. I'd be a bit careful now then; if the long trend is downard, this bump could be merely an overbought, followed by a dive. I'd watch other coins to see how the market is moving in general, as it seems all of them are following more or less together. Or it could simply be that the overall trend is upward, and we are seeing the end of the correction. I do not know enough to say one way or the other
CaptainZombie
Member
Could this be a dead cat bounce? It looks like we weren't in the red long enough and all of a sudden the looks of a new upswing is starting.
Lilalaunebaer
Member
Eth could go down to 30$ a piece, but it wouldn´t be constand. Loosing every day. There will be ups and then downs, higher ups and then lower lows, small ups, with no downtrend for a couple of weeks.
We´re talking months or a year here, not a couple of weeks. At least in my experience in the past. Goes for the rest of the crypto currencies as well.
We´re talking months or a year here, not a couple of weeks. At least in my experience in the past. Goes for the rest of the crypto currencies as well.
walking fiend
Member
I do not know enough to predict long term trends, but short term, although time-wise we weren't in the red for too long, the volume that was traded was quite a lot. So it is possible that the correction is over. But I'd stay away from long term investments still [my personal decision] until daily averages go back to normal. I'm trading in the time unit of minutes, that is how fast the market is moving.
I agree with this 100%. I don't believe the correction is over, but that prediction is quite hard to get right. My personal view is that this is setting is up to drop to 150, but who knows.
This pump on ETH appears to be almost entirely driven by Bitcoin again, and Bitcoin looks like it may be hitting USD$2400 for the second time in a few days, only with a higher 1hr RSI. That is usually a recipe for a turn downwards, which would take ETH as well. We shall see.
Borboleta Amarela
Member
Currently debating on stocking up ANS or ARK. Anyone might give me some insight on which is best in the long term? Thanks
Bitcoin got above 2400. Looks like we are going to go up a bit more still, but it could turn at any second.
Aztechnology
Member
I made like 30% return on the bounce, not that I have too much in, just like ~$500. Now like $700 if I cash out. The question is. Take profits now? Can't tell if it's still rising. I have ANS, Siacoin and Golem.
I don't really know my options or understand well enough the studies options on Bittrex or investing in general to see trends, demand for buy/sell etc.
I'm very green.
I don't really know my options or understand well enough the studies options on Bittrex or investing in general to see trends, demand for buy/sell etc.
I'm very green.
CaptainZombie
Member
I'm holding a decent amount of ANS that I've accumulated over the course of the past month. Some refer to ANS as the Chinese Ethereum. Pretty soon ANS is going to be re-branding to NEO which might help get these shares a bump in price. There is hope that with the name change that NEO will also get on other exchanges besides just Bittrex and a few Chinese based ones. If you place the ANS into an offline wallet, you also accumulate AntCoins. I think that this a good long term coin to invest in, it will not get you rich overnight. I want to add a bit more in the next few weeks since it has gotten so cheap at times.
DonMigs85
Member
HODL unless you really need the money.
These are all young technologies
Aztechnology
Member
Right that is my eventual plan. But the volatility right now is making taking profits fairly easy. My fingers are crossed that this isn't another short term rally and we've corrected. However I'm not convinced we're done yet. I guess I'll give it a few more days though. I should probably set a conditional sale order though. I haven't yet, which is practically a cardinal sin in investing.
DonMigs85
Member
Yeah, I regret not buying more SC and ARK yesterday. Thought it would dip lower
One positive day is not enough to confirm we are headed back up for sure. While ETH might rise a bit more on this push, it will come back down again shortly thereafter. What happens after that I couldn't say just yet. If you don't want to watch it like a hawk, there is nothing wrong with locking in profits. By the same token, you would also have to watch closely when to re-enter. If you don't want to devote that much time to this, just hold.
walking fiend
Member
Yeah, basically the thing is that there is no cap on how high the price can go. If you lose a rally from $200 to $250, there are more rallies you can ride on. But if you lose you money in a downward rally, there is little you can do to recover it; there is a cap on how low the price can go: $0
NiiloPielinen
Member
I'm still wondering what exactly is going to happen if BTC goes through a hard fork, what happens to the pre-fork BTC you own and to their value?
I'm wondering if it is a good idea to get BTC now if it's price drops a lot.
I'm wondering if it is a good idea to get BTC now if it's price drops a lot.
Unknown Soldier
Member
Well, look at what happened when Ethereum hard-forked into Ethereum and Ethereum Classic. The pre-fork version usually goes nowhere and the post-fork version gets all the investment and growth.
I doubt the BTC community will let it hard-fork. They will move Heaven and Earth to ensure this doesn't happen because if it does, ETH will definitely eat BTC's lunch and emerge as the dominant crypto.
Future PhaZe
Member
This gonna b gud
CaptainZombie
Member
And Eth is starting to go back down. BTC is also looking like it is going down.......guess yet another bloodbath this week.
Future PhaZe
Member
Praying for doom so I can buy back in
CaptainZombie
Member
Me too.....hoping for a nice bloodbath going into the weekend. I need some more ANS on the cheap and would like to possibly get back into Eth. This past week, I've been soured a bit on Eth just the though of these ICOs and how they can just cause so much disruption on what the coin is worth sucks.
ETH still closely following Bitcoin right now. A big selloff by Tezos, if it happens, would probably push the whole crypto market down temporarily, but ETH more than Bitcoin.
The Tezos pile is currently sitting in a smart contract address, so it's possibly they are setting up the contract to divide that up as they indicated they would on their website. For example, they mentioned that they will be paying themselves 10% of what was raised, to vest in 4 years. It would be cool and admirable if they implemented that vesting mechanism in an Ethereum smart contract. But at least the rest of it will probably be sold sooner rather than later. We'll see.
The Tezos pile is currently sitting in a smart contract address, so it's possibly they are setting up the contract to divide that up as they indicated they would on their website. For example, they mentioned that they will be paying themselves 10% of what was raised, to vest in 4 years. It would be cool and admirable if they implemented that vesting mechanism in an Ethereum smart contract. But at least the rest of it will probably be sold sooner rather than later. We'll see.
Business
Member
Same here. Sorry holders it will be just a moment, then we can all go up together.
The ICOs so far have caused major problems, but the fact that companies are increasingly viewing Ethereum as a viable way of getting funding is actually quite good. It means that Ethereum has an actual real world application right now that works and people are using. That is pretty impressive actually, and could encourage more people to seriously look at blockchains for other services. The whole ICO process just needs a lot of refining. Maybe that will come through changes to Ethereum itself, a new ERC20 token for ICOs, free market pressures, or government regulation. Long-term, I think ICO functionality is a good thing, but the market has to figure it out first. It's still a big mess right now, obviously, but it won't be forever.
Future PhaZe
Member
Were we ever able to correlate the sudden down cycle to a particular ICO triggering the domino effect?
Not precisely, but I believe all of the ICOs together helped to push it down faster. In retrospect, Ethereum was due for a correction after rising so much since January, but it really ramped up to an incredible speed from around mid-May to mid-June. The May/June push was really fast. Without that crazy rise, ETH would probably be in the USD$120-150 range right now. Maybe that's where we'll correct to. If it retreats more, to correct some of the big April-May rise as well, then we're looking at $60-$80. I would be surprised to see it fall that far though.
CaptainZombie
Member
Yup, looks like it is going to test that $200 yet again.
walking fiend
Member
Whenever it starts dipping I'm either on the phone or busy reading an article or something -_- You can't really make any money in this market unless watching the charts is your full-time job... I should seriously follow through my bot development project
That's what happened to me yesterday. I missed almost the whole thing as my calendar was booked solid. Only got to catch the tail end. Not a good look to put someone on hold to trade ETH.
Bot co-development effort? I've improved a lot at the micro movements since I bought my first crypto. I'm ashamed I got caught panic selling twice early on before smartening up. The longer time horizon movements are trickier, but I'm starting to see them earlier too, and have been developing some rules which I'm testing. I don't think I can spot signs of the complete turnarounds until they happen though.
walking fiend
Member
I have been thinking about for a while, and eventually decided to divide the bot into two different projects. One would be the development of an app that takes care of executing buy and sell orders, and the other would be the development of the for app that makes the decisions. The reason I decided on separating the two is that they require different skills. The first one would require the knowledge of securely working with exchange APIs, while the latter is mostly data analysis.
I am not a pro trader, so I obviously lack a lot of knowledge, but the obvious shortcoming that I see is that I am not consistent in the decisions that I make, which is partly because there are too many parameters that I need to check to make a decision, and in a market this volatile it is easy to miss some of the parameters or haste to misread them to confirm an emotional decision. So, for now, I'd be content to just have the latter half of the app: essentially an app which reads a stream of data from the exchange's API, uses the predetermined algorithms to decide upon a buy/sell signal, and alert me by email or something when it detects an entry point (then I'll put the order manually).
At first, the app will not be intelligent, it will just check the data against some predetermined criteria to come up with buy/sell signals; however, later on, with the help of machine learning or at least some simple statistical analysis, it can be used to develop some adaptive/tuned decision making techniques.
Edit: My to go programming language is typescript (I can use it for both backend development with node and frontend development with Angular), but TradingView has a custom programming language Pine which is used for working with its chart, and it seems sophisticated enough to be used for an initial effort. I haven't really looked into it in any detail though
Future PhaZe
Member
Any movement from tezos ?
Not yet, from what I can tell.