Why I Sold All My LTC Just Now :(


#41

I got some kit at a very good price… just a couple of quid for a box full of miners, by the time I sorted out the broken blades, fixed the ones that could be fixed, I still had enough to hash at a little under 2000 MH/s, I have them all powered by solar panels charging up batteries, I have them all cooled by a liquid cooling system I put together myself which vastly reduces the cooling overheads…

over all, its close to recovering my total investment after 2 months of mining and doing the maths i get a higher return than just leaving my money in the bank…( the interest rates for savers here is stupid at the moment.)

My sums say that I can make a reasonable amount from mining and even taking into account the deprecation of the kit. My long-term plan is building a large mining centre into the 10’s of TH/s this time next year hopefully 40TH/s… I want to build very quick to start with and sit on that I have mined…

at the weekends, the price of ltc has been going up by as much as £2 over the weekend and dropping again in the week to around 75% of the weekend high, so I have been selling at the weekend and buying back midweek, adding on average 20% to my wallet, so I have made just as much trading as I have mining. But I am only gambling money I have made from mining…

Admittedly, getting the kit at a massive discount helped. the guy just didn’t know what he had and was selling it for the scrap value of the aluminium heatsinks…


#42

True, this is my first post, but not my first rodeo in trading. Started and holding BTC years ago, and got into ETH way ahead of the curve. Before that, Stocks and Futures for over two decades. So the underlying asset may change, but not trading.

Again, I have no problem that you made or lost, that is not the issue. It’s the thread you started where you started calling everything just short of a “scam” because of your insecurity and lack of fundamental knowledge about trading. It’s unfair towards those who are learning the business.
The fact that you made your money back is because the market went back up, not because of your research or skill.

Guys like you want comforting, not practical advice. So every word I would say here would be interpreted by you as hostile and not as constructive criticism. If you are open minded, take this advice to heart: trade size you can afford to lose and hold without needing a tranquilizer.


#43

Feel dumb yet? All you had to do was to hold for one more week and you’d realize some nice profits.
You probably made a rookie mistake of buying with the money you need/can’t afford to lose.
I simply don’t see any other reasons why you would sell for less than you bought instead of waiting.


#44

Cool story man. I bet you didn’t buy LTC during that time period. You just like looking back at the past because you think it’s cool, when you probably would’ve done the same exact thing.

Really sad.


#45

That sounds awesome! I like that your rigs are paid for within 3 months.

Thank you for the awesome info. Especially the realization that prices rise on weekends and drop during the week. Didn’t realize that!

I think LTC will get harder to mine, so buying more rigs for mining purposes is only not risky if those rigs can be used to mine other crypto too.


#46

I bought in at 15,6 and I bought a whooooole lot more than 200.

I just don’t understand the logic why you would sell for less. Didn’t you believe it would go up eventually?
Why would you even invest in something you don’t believe in? Segwit isn’t even implemented yet, 8 more days to go, why wouldn’t you at least wait until then?

There will always be small ups and downs.

I’m not even going to comment on the ¨you probably would’ve done the same exact thing¨ part. If everyone had this mentality, there wouldn’t be a single successful trader and investor.

You literally bought high and sold low, the exact opposite of what you should do and you whine about other people, not your own lack of skill and knowledge.


#47

cool so u have enough cash to buy more than 200 litecoins, nice. You’re so cool man.

I’m not sure why you would buy in at 15.6, as that’s pretty risky but okay?

I did start my post off saying I made a mistake, and was pretty honest about it.

I didn’t attack or whine at anyone – it’s that people decide to attack me after LTC’s price goes up, which is annoying because most, if not all replies before that were more conservative without any hint that LTC would go up.

Then the price rises and suddenly it’s like “I TOLD YOU SO. YOU ARE STUPID”

LTC is almost $20 and I regret not buying again. But oh well. I guess I missed the train.

I honestly don’t think LTC will go higher than maybe $25 because that’s what reddit people said (the ones who aren’t LTC fans).

Even the crypto fortunetellers on cryptocurrencynews give LTC a conservative $24 using their special geometry on charts.

BUT I REALLY DO FELL BAD THAT LTC IS $20 NOW WTF! I COULD’VE SOLD FOR $20 and made like $500 or something!


#48

any you guys know how cancel a uncofirmed transaction from my wallet please


#49

So you’ve decided to take advice from r/litecoin trolls? Take a step back and see if that makes sense.

I’ve got a better subreddit just for you:


#50

:ltc::rocket:


#51

“sense”? does that look like this guy even understands the difference between value and price?
I hope he keeps writing here because I assure you that he will buy tops and sell bottoms.
He should be an indicator on every chart.


#52

Just bought 100 LTC at 24.00.


#53

Thanks for the laugh, I appreciate it.


#54

The price went to 27. SHOCKER. I hope the guys on REDDIT are short. I can grab a sandwich with a side of Stop-Losses being triggered.


#55

I bought LTC at 25.20 and then it dropped to 22.xx :frowning:

but learning my lesson, I just patiently put in an order for the day’s high @ 25.65 and went to bed. When I woke up it sold ^_^.


#56

Hey i purchased 5$ litecoin some 23coins. should i sell or hold for 1 year. How much ltc can go up in 1 year


#57

Either 100 or 1 Dollar


#58

LTC just hit 30!

QQ. . . why I sold mine at 27, i’ll never kno. . . I bought in at 25.7 just a few hours ago and went to bed with a sell order of 27.


#59

I bought at 4 and am still holding. You have weak knees.


#60

Why the ■■■■ would you invest in LTC if you think that buying at 15,7 is risky???
And I see you’re panic selling at every small price fluctuation again (do you even check if the fees are covered???)

I’m not selling before $50/LTC, $100 preferably.