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3505389 No.3505389 [Reply] [Original]

OK hear me out bros. I think I know how to get rich.
There are 196 coins in Bittrex. Each day there are a dozen or so coins that appreciate by at least 10%. If I put $100 into each coin today then I'm guaranteed some gains from these coins tomorrow. In the meantime some of the other coins depreciate, so I'll take my gains and buy those coins to average out. Eventually they'll rise again and I'll sell for profit. Repeat until cryptos die.
Is that the holy grail? The only way it won't work is if the whole market goes down

>> No.3505407

>>3505389
Yes, buying high and selling low is a solid strategy

>> No.3505426

>>3505389
Have fun managing that portfolio

>> No.3505429

Consistently pouring money into coins that under preform couldn't go wrong

>> No.3505464

>>3505389
Put 100 into every coin and then set a sell for 10x whatever the current price is.

>> No.3505483

>>3505426
could write a bot to do that

>>3505429
price always fluctuates, even if by only a few percent

>>3505464
could do that to coins with history of pumps and dumps

>> No.3505522
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3505522

You'll just mirror the total crypto market cap - not the worst strategy. Write your bot to sell pumps and you'll outperform it.

>> No.3505531

>>3505483
Your plan is to sell gainers, and invest in losers.

Some of those losers do not come back. Some of them will be red every single day. I agree that some losers will turn into gainers, but you need to manage this in a way that protects you from consistent losers, or you'll end up with 50 million ESP on yobit.

>> No.3505537

>>3505389
Just do it with the top 20 coins. Much easier.

>> No.3505563

>>3505531
Why do I find the idea of someone investing 20K into every coin on Bittrex but somehow ending up with only 50M Espers on Yobit six months later.

>> No.3505575

This idea is retarded on so many dimensions that you'll need a supercomputer to visualize it.

>> No.3505580

"Invest 100 dollars on 200 coins"

Is like saying "A clock can't be wrong twice a day"

>> No.3505594

>>3505563
Idk how much 1 stat is
ESP on Yobit was just a meme
But he'll end up with an unproportional amount of failing alts if he always invests in red

>> No.3505639

>>3505522
makes sense

>>3505531
that's the only problem I see with my strategy, my hope was that any profits I make will be greater than the losses

>>3505537
top 20 can change tho, isn't it better to go by volume then?

>>3505575
it's not perfect but I don't think it's outright retarded, unless you tell me how

>>3505580
w-what