It's been a while since I've gotten the feeling I am having right now and wanted to share it with you guys. It's kind of the same feeling as planting your seed and then checking if the harvest looks ready. It's been a rough patch the last few years not just financially but also with my health but I'm glad things are looking a bit better in both sectors.
Last year when I folded and started selling my Steem holdings at pretty much the bottom after having held the top and almost doubled down way too early at 10x the price it was at when I sold, I decided to not dump everything for fiat but placed some of it on a few coin projects and games. I was thinking blockchain gaming would explode in 2020 and even though not too much has happened yet I'm sure it's just around the corner. One of these coins was called CHI or Xaya.
Today I randomly noticed after reminding myself that I should use @coingecko over coinmarketcrap that the coin had gone up in price and according to them was surprisingly high ranked.
Well this was a nice surprise I thought to myself, if only I'd now remember where I'd left them! Something I've advised people time after time again is to not leave coins on exchanges long term, of course if you're actively trading with some funds on volatile coins and big, known exchanges it's alright, but if you're going to plant a few seeds here and there always make sure to withdraw the coins onto their wallets. With ERC20 tokens this is easy cause you can just add the token to your MEW or Metamask wallet and withdraw it there, but with non ETH tokens it becomes a bit of a bother as you'd have to download the wallet, hardforks may occur forcing you to update once you decide to open it back up, etc, but it's still way better than losing your coins completely. Anyone remember that Australian exchange that went offline? Yeah I lost quite a bit of shitcoins in that one.
Luckily I had learned my lesson from that incident, even though it should've happened way sooner with cryptsy and many other exchanges in the past. When I went to look for the wallet though, it wasn't installed and that feeling wasn't great, until I quickly remembered it has to be on my laptop as that's what I was using at the time of the purchase and sure enough there it was!
What you're seeing here is the Xaya wallet, when I purchased the coins on an exchange I don't remember and the current ones listing it didn't ring a bell so could be it's one that either went the cryptsy way or just stopped listing the coin, I withdrew them onto the wallet. What I didn't do, though is let the wallet sync up to that date so it is now downloading the whole blockchain and once it reaches the day I withdrew them it'll update my balance with the withdrawn coins. What's kind of funny about this is that I don't even remember the exact amount I purchased or with how much funding. It wasn't a big amount I know that but looking at the chart history of the coin it's been pretty volatile. Ranging from as low as $0.005 to yesterday $0.167 on a new exchange it had been listed on, so yes, it's going to be a literal RNG ROI surprise, but hopefully on some profit.
Now comes the other issue, though, while I'm writing this post and waiting for the block explorer to sync, I noticed the exchange it's been listed on is ehm, I wanna say chinese but it could be japanese, just guessing from the looks of the letters I don't think it's korean. So the question now is, will they let me sign up and trade there, will they let me withdraw, cause some exchanges like cough hitbtc let you deposit but when you try to withdraw you're going to have a bad time. I think I'm going to try and see if I remember my login, or create a new account on the other exchange and check how liquidity is on Liquid but even though I realize this new listing is what may have caused the pump in price its chart looks really, really sketchy. I mean look at this.
That's one fat finger sell there that occurred a few days ago down to about 14 satoshis, one lucky buyer has managed to get himself a very easy 10 to 15x if it afterwards went up to almost 1800 sat. Either there really isn't a lot of liquidity or the exchange is just trading an IOU, being a rank 460 coin seems a tad overpriced to me right now so I'm thinking I should try and sell half and see if I can buy it back a bit lower again or just turn it into Hive since I missed out on buying this dip. First I'm going to check if anything newsworthy has happened with this coin, though, one thing I'm definitely going to not do is sell all of it cause there might be new listings on the horizon that may take this low liquidity coin even higher for a short while.
The wallet has yet to sync up to the date of my withdrawal and if I remember correctly I won't be able to transfer the funds unless it's synced all the way up to date. Maybe there's others out there who also have fired up their wallets and waiting for it to sync so they can sell some on the exchanges and in turn provide liquidity to newly interested investors, or they've just completely forgotten about this coin or lost access to the wallet. Who knows.
What would you do in my case? How much of it would you try and sell off and how much profit would you want to be in to consider selling some off?
Had any similar experiences over the years of buying shitcoins? ^^
Thanks for reading, maybe I'll update you in another post about how many I ended up having and what I did with them!
PS! First LeoFinance post! :)
I realized just now that I could've just made this situation up and never have bought any coins to begin with with the screenshots I provided so here's an update after the wallet synced enough.
So with that date it means I bought it around this price:
Meaning I put in $45 to purchase 1512 coins which right now are worth about $150 at $0.10 each although the spread looked really big on that exchange last I checked and I decided not to sell any off just now but wait for another more secure listing instead. Also the site looked pretty slick and they had a few games up and running so maybe I'll check what's up there another time and see if I can use some of these coins ingame. :)
What's this? A shitcoin bag in profit?! Wonders never cease :)
Shh just give me that big leo vote
Am I the only one who noticed the "coinmarketcRap"?😂
I read that too and chuckled lol too true!
I unfortunately don’t invest in many of these other coins for the issue of not being able to easily get rid of them when I want. I’m losing out on a lot I know but at the same time I don’t have time to research things the way I would like. Hell I have a draft post of Monero that’s been sitting there for 4 months now lol.
It is nice to see the prices go up on things you took a chance on. I took a chance on link and bought it at 2$ or so and sold it at 10. A bit earlier than I should have but still a solid profit for me. Snagged more Ethereum with that trade!
Decent first leo post!
Cheers!
Yeah, if only I had the time to get more into trading and researching some medium-long term seedlings. :P
Maybe some of the other daily Hive tasks will be lowered soon and I can find the time to look around again and will definitely post about it as well so others maybe can win or lose along with me. :D
Hahaha good question asking for advise what to do with this coin: hodl, sell or maybe buy more? Though you ask, I’ll not give you any advise on this one. I dont dare to. Since the 2017 bubble, I’ve stopped trading, since I felt so stupid not to monetise around the top and the many shitcoins I had of which some of them do not exist anymore or are not tradeable anywhere while I had almost nothing in the more valuable coins. That said, with a max of 150$, I would say: keep them and take the risk. It could come up 100fold over time. 150$ is a good amount but it would give me a week of food, therefore it sounds to me as being not a problem to loose it. OOPS: now I gave you advise :)
:D yeah wrote in a comment earlier that I'm just gonna gamble on a bigger exchange listing it as it seems they're actively working on their site and adding more games, etc, even had a giveaway thing going which I maybe should take the opportunity to share with my followers so they can possibly get some more free hive from ;)
Hahaha Yea I saw your comment as well. I would even gamble further, not only betting on a larger exchange listing. Gaming and Crypto are perfect match, and knowing the amount of games around, the amount of gamers around, any project has potential imho. Somehow I wonder why many to most to all games in crypto are born by crypto people, and none of the none-crypto game owners tried to do something with a crypto token. Am not at all a gamer, so I dont know this market, hence my previous statement is more like what I feel instead that I know it :)
Do you remember we received some byte balls - is there any value of them ? could we just withdraw and sell them, if they were valuable ?
I did that byteball thing and managed to get something back for what I had but don't think the value has done too much other than plummet. I swapped it all out for steem last year I think so don't know what it is doing these days in terms of price or even what the project is about 😁
I remember, we were allowed to withdraw part of it after some time. Now if I open, its just telling me to upgrade. So if someone who had a lot can try and see if they make any value !!
Yeah the deal was that you had half of the liquid amount available at the time but then had to wait 12 months to access the rest of it on the desktop app.
I remember having to update the byteball wallet as I had totally forgotten about it but I just scoured my timeline to see if I could find the post I made and looks like I did it around August 2019 and got about 70 STEEM at the time! I did manage to find the original article I sourced in that post too from @jk6276 so thanks to him, managed to get it converted - hope you can too 😃
https://peakd.com/byteballs/@jk6276/crypto-post---byteballs-to-steem-conversion
I upgraded the wallet and sent them to bittrex. Sold for BTC. The price is $25.
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So I see I have version 2.4.0, and it does not open. Now the latest version I downloaded is 3.2.0. But when I try to install that, it does not tell me that it is about to upgrade the existing version. So what am I missing ?
I'm not a tech guy so you'll need to ask someone else.
Sorry.
Posted Using LeoFinance
Yeah, I already sold half that were locked for a year.
Did you manage to post the steps followed ? I think, there would be many who had them.
Take care and stay safe and I do hope Hive goes on to become what we dreamed for steem. Looking back makes us kind of regretful and what not.
Thanks! I think things are a lot better now and will only improve from here on out! At least I'm trying to treat Hive as if it was already $1+
Before anyone tells me I can just check my wallet address and then the block explorer, yes, but that'd ruin the surprise/disappointment. :P
I was thinking blockchain gaming would explode in 2020 and even though not too much has happened yet I'm sure it's just around the corner
just my opinion , but I think online gaming will not grow too much.
Why?
Gaming is very time consuming, and with the crap that the world is facing, productive time will be a precious commodity.
Ergo, less gaming time. (imo)
Sell it all. Those low volume coins are never great to be in long term. Double down on your video game coins ( which ones are you in of those btw? Wax? Enjin? ) , Or just get some more hive. Or since your posting on Leo maybe you need to grab some Leo coins lol? I'm about to try and make my first post over there before long.
I left coins on cryptopia too long. I debated whether it's worth getting into the class action suit to try and get some money back, but I will just lose it to the game... I have coins scattered all over and it is really a hassle dealing with all of that. I have some peer plays on their wallet and I would have to sync it and do all of that before I. Would take my coins off and I just don't know if it's worth the time. I work outdoors now, all day and I just don't have enough energy after work. I need to find if though.
Anyways thanks for the list, it reminded me of a few bags I have that I forgot about, and I hope I can find the keys and the wallet/exchange I need to get into to sell them.