LauriElias
Long

PotCoin - hasty bets cost money

BITTREX:POTBTC   PotCoin / Bitcoin
278 views
3
I got the idea of starting a trade journal from this guy on Medium: https://medium.com/@EvreuxFX/how-to-avoi...

This is going to be my most embarrassing entry so far. I thought about making a few bucks off April 20th (https://en.wikipedia.org/wiki/420_(cannabis_culture)) and jumped at it without basically any DD . I checked out April 2018 of the main drug coins on CMC:
https://coinmarketcap.com/currencies/pot...
https://coinmarketcap.com/currencies/hem...
https://coinmarketcap.com/currencies/can...
https://coinmarketcap.com/currencies/dop...

There was a clear bump around April and that's all I needed to buy a bunch of all 4.

What I did not notice though was that the coins were already in the stratosphere since March 25th this year and I was hopelessy late.

I am still holding on to the coins but it's starting to feel like we're in for a round of Bitcoin dominance again. That would spell a bloodbath for all alts, including my bagholds...
Trade active: Bought at 0.00000552 on 2019-04-07.
Comment: Looks like Bittrex is delisting CANN and DOPE. I took in the earlier loss with THC to buy more of the 2 victims + POT which seemed to be hit for no reason.

So now I have 83000 POT waiting to recover on Bittrex, 100000 CANN I need to dump on some other exchange, ditto 30000 DOPE.

Hitting zero with this trade is not impossible.
Comment: Took the loss on the CANN because it's so impossible to get to another exchange. Direct deposits are closed and the Google Play wallet reportedly syncs for weeks.
Comment: Got out of DOPE, which frankly feels dead in the water. Going to try to salvage something from POT still and be thankful BTC rallied so hard in the meantime I lost little in dollar terms.
Trade closed manually: Got out of POT at 0.00000175, turns out 185 would have been possible, but it is what it is. Opportunity cost was immense here. Live and learn.
Comment: Gotta remember to revisit this March 2020.
Comment: 4/20 not that far off...
Comment: Fuck, did I really miss it? : )
Comment: If it dips before mid-March I might try getting in again, but the daily volumes are really low. Can get trapped...
Trade active: Bought a bunch around 0.00000095, let's see what happens before 4/20. Balls deep in BTC anyway, can keep a tiny bit of it in wild gambles.
Trade closed manually: Sold 83, the world is fucked.
Comment: No Christmas this year.

Comments

I still think Pot has a chance. There's actual work behind the project. At least some correspondence on its Twitter.
+1 Reply
LauriElias BikBookly
@BikBookly, I certainly think it won't remain this low forever, but I've become a bit of a Bitcoin maximalist and am contemplating selling all my shits : )
Reply
BikBookly LauriElias
@LauriElias, I understand completely. My heart is telling me bull market, but the brain is saying bear. I've taken some profit out, but I'm letting the long rest (specifically IOTA and ADA). Best of luck to us all :)
+1 Reply
yeah youre probably hitting zero
+1 Reply
onefry noam_chom
@noam_chom, yeah right, check out the potcoin telegram, it's popping. Potcoin did some good things in this world, it will continue to.
Reply
What's weird is that THC didn't get hit like the others.
+1 Reply
Just push them to your QT wallet and stake. Make 10% a year and sell once #potcoin dev team does something drastic. Something is coming. Maybe a hard fork/token exchange. Will be an interesting time to hold this coin imo. The new team has some old members back and is planning to do big things (they're based in Canada) Talk to josh-in-the-city on reddit/r/potcoin. He works with them.
+1 Reply
@onefry, should install it on an always-online server then?
Reply
onefry LauriElias
@LauriElias, no need, you still stake even if the wallet/node is offline :) just unlock and collect every so often :)
Reply
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