The Devcoin pump didn’t last long, and the price has fallen back down to almost as low as it was before. It’s still high enough that I would feel OK about selling off a few DVC at the bid price, but I decided not to. I saw the price shoot up to 100 sat and back down. If it happened once, it can happen again. This time I have a few sell orders at high prices and the next time there’s a pump I’ll be sitting pretty. I didn’t manage to benefit as greatly from this last pump because I just wasn’t around with DVCs sitting around to be able to take full advantage of the very short lived high prices. By the time I’d gotten my Devcoins to the exchange, the prices had already begun to fall back down.
I’ve learned two things from this latest rise and fall in the price of Devcoins.
1. Be willing to hold out for the best possible price I can get When I first started I decided my game was not currency speculation so I used the exchange more like a tourist. I have one currency and I need the other currency to do what I want to do, so I trade one for the other at whatever the going rate is. I think this was a decent strategy for a while. By quickly selling my Devcoins I was able to accumulate quite a few TAT.ASICMINER shares which now altogether pay a dividend that’s more than just a few microbits. It was important to buy up some shares early on and at least start a pipeline of dividends flowing. Now that I have those shares in my portfolio, I don’t have to be in a huge hurry to get more. Yes, I do want to buy more, but since I already have some, I can get more picky about the Devcoin price. Now when I send Devcoins to the exchange, I don’t sell at the going rate unless it’s really good (61 sat still doesn’t cut it for me). Instead I place sell orders at a range of prices I would like to sell them at. And I wait. I could be waiting for a while for those orders to get fulfilled. On the other hand, I could also log in to find they all sold because there was a pump.
2. Pumps favor the prepared I don’t really like the idea of just sitting on coins waiting for the right opportunity to do something with them. You could say they burn a hole in my virtual pocket. Because I wasn’t willing to hold out for a good price, because I found other ways to spend my Devcoins while the price was tanking, when the price shot up, I had no Devcoins on hand to sell at those fleeting high prices. Nor did I have any sell orders placed to take advantage of them while they were good. The reason I didn’t have any high sell orders was that I couldn’t stand the thought of having to wait and wait for those orders to be fulfilled. Needless to say, my thinking has changed a lot. As more Devcoins come in, I’m going to sit on them, either as high sell orders or just available on the exchange, so that when the opportunity comes I am prepared. Since I’m not always on the Internet (I have a life!), it makes the most sense to always have a range of sell orders in place that I can be happy with so that even if a pump only lasts for a few hours I have the opportunity to benefit from it.
I’ve also considered the possibility of playing around with currency speculation. I could sell my Devcoins high, hang onto the Bitcoins, and then buy them up again when the price drops. I could put buy orders in just as easily as I could put in sell orders. At this point the pull to use my Bitcoins to buy more shares is too strong. However, when my dividend pipeline has grown some more, I think that might become a new hobby. What it comes down to right now is that I have a greater desire to grow my Bitcoin income than I do to grow my Devcoin income. The Devcoins keep rolling in thanks to the Devtome. But I have not encountered a Bitcoin equivalent of the Devtome, so I’m having to build up a Bitcoin pipeline using my existing Devcoin pipeline. But once that’s established my perspective on how I want to use my Devcoins will no doubt change considerably.
Speaking of building up a Bitcoin pipeline, I discovered a new faucet which so far is the most generous faucet ever. In order to use it, you do need to get an Inputs wallet. An Inputs wallet allows you to use email addresses rather than Bitcoin addresses for making transactions, bypassing the transaction fees. This actually opens up all kinds of possibilities so it’s well worth getting one and playing around with it even without the faucet.
Another thing I noticed was that all the faucets which use the Coinbox service have increased from 1 uBTC to 2.5 uBTC! I had lost interest in the faucets when my Devtome earnings started rolling in because the faucets are a tiny drip in comparison. So while I wasn’t looking that drip got a bit bigger.
BitVisitor, the granddaddy of Bitcoin earning, also seems to be expanding. Not only are they attracting more advertisers so you don’t often see the no more ads message, but they are attracting some serious companies that are willing to pay big for advertising. It’s not uncommon to be compensated over 100 uBTC for viewing a single ad. They still have the ads with the smaller payouts, but the ads that pay more are always at the top of the list.
I continue to view ads on BitVisitor even though I could earn more elsewhere. Part of the reason is that I don’t have to think too hard to enter a Captcha and view an ad. But I also enjoy checking out the new ventures which are out there. It seems I almost always learn about a new way to earn Bitcoins by first seeing it on BitVisitor. I also learn about the new retail sites that are selling interesting products for Bitcoins.
The great thing is that even when I don’t feel like I can build up my Bitcoin pipeline by selling my Devcoins, it seems like it just gets easier and easier to obtain Bitcoins. Those small amounts do add up.
Read Meanwhile on the Devtome!