Monthly Archives: August 2017

Interview With shwifteey From FUCK token.


BitcoinDood: First off, thanks for taking the time to answer the questions for this 
interview. Could you take a moment and introduce yourself, tell us a little 
about the project you represent and your relationship to the project?


shwifteey: My pleasure dood! I go by shwifteey and I am the community manager and business developer for FUCK Token. My partner Jexprand, the creator of FUCK Token, takes care of the more technical aspects of smart contracts and other types of coding.



BitcoinDood: So I guess my first question is.. Why fuck token? What made you name your 
token FUCK? I honestly can’t wait to see this hit exchanges just so I can
 see FUCK listed.


shwifteey: Jexprand originally incepted FUCK Token in early June of this year after binge watching SouthPark. I think all of the swearing kind of gave him an epiphany. He posted his creation on Bitcointalk and I immediately saw the potential for this project. He was hesitant to turn FUCK Token into something real but I kept pushing him to the point of being annoying. Our main goal with FUCK is to give a real, tangible value to the word in the form of currency. It’s a surprisingly deep question: “How can you give a fuck, if there are no fucks to give?” We took that concept, applied our love for cryptocurrencies/Ethereum and gave birth to FUCK Token.


BitcoinDood:Before PIMPcash re-branded to OKcash I remember they got a lot of flack 
from some of the different exchanges. Many took offense to the ticker PIMP.
 How has the name been received by the cryptocurrency community, and have
 you taken any flack for the ticker from different exchanges?

shwifteey: People either love FUCK Token or hate it. Exchanges have been very hesitant to list us (big surprise, I know). We have a lot of exchanges that want to be as professional as possible and don’t want the word FUCK all over their site. As our community grows, the exchanges are starting to realize that we are not a joke and some are easing up to the idea. As our tip bot rolls out I’m expecting exchanges to no longer give a fuck about our name and take notice that we are serious about creating something fun and valuable.


BitcoinDood:From what I understand this all started as an ICO. Why did you choose the
ICO model for your coin?

shwifteey: The main goal of our ICO was to raise funds to pay for exchange and marketing fees. Jexprand and I hit a point where we couldn’t afford some of the costs of taking FUCK Token to the next level. Now we have enough padding to pay for exchanges, market properly and hire developers. We set a hard cap because most ICOs ask for WAY too much money and end up ruining trust with their investors. We needed to show everyone that FUCK isn’t a money grab and we don’t need millions to bring it to the mainstream.


BitcoinDood: 

Recently the industry has been bombarded by ICO offer after ICO offer. What 
are your thoughts on the ICO business model? Do you think it’s here to stay
 or do you think this is just an industry trend that will eventually cool
 off and fade away?


shwifteey: I think it is here to stay. It’s amazing that almost anyone can invest in a project or company without being heavily involved with investment firms. Your average person can now throw some money towards a company or idea that they believe in.

The ICO model is not perfect though. What bothers me is the current craze surrounding them. Companies don’t need hundreds of millions of dollars to build software that takes three months to build. Cryptocurrencies are highly speculative and a lot of people are going to get burned when companies don’t deliver on their promises. Once these sorts of letdowns are common, I expect the ICO craze to cool off. Investors will spend more time researching the fundamentals of the companies as the market gets over-saturated.


BitcoinDood:Many people are probably asking themselves if this is a parody token or
 you’re actually serious about this project. Where do you stand with this?
Are you serious, just having fun or somewhere in the middle?


shwifteey: We are somewhere in the middle, leaning towards serious. Although, being serious about delivering our promises doesn’t mean you can’t have fun while doing it. We want people to enjoy the process of learning about cryptocurrencies. Sending someone a FUCK is still quite complicated to a newcomer: you need to understand Ethereum wallets, gas, tokens etc. Although the Doge creator hates me for using this, I picture FUCK Token as the Doge of Ethereum. We are going to deliver our product with a nice amount of fuckery and fun in the process. We know there is huge potential for introducing newcomers to cryptocurrency through tipping FUCKs. The name immediately grabs your attention, for better or worse.

BitcoinDood: ERC20 tokens are all the rage right now. What are your thoughts on ERC20
tokens? If someone told you they were considering using the ERC20 platform 
for their next project, what would you tell them?


shwifteey: I am definitely biased on this question because I am a big fan of Ethereum. Part of the appeal for FUCK Token is that it is an ERC20 token and anyone can store it on their Ethereum wallet. For an altcoin trader or holder, having 50 different wallets can become a pain in the ass. I’d tell anyone starting an ERC20 token that they should thoroughly test their contract multiple times and have as many people check it as possible. Even companies raising millions of dollars have problems with their smart contracts.


BitcoinDood:It seems someone actually gave a fuck about The Dood… Actually a couple
fucks were found in The Dood’s Ethereum wallet. Besides people actually
 wanting to give a fuck, is there a special purpose or use case you’re
 trying to achieve with FUCK?


shwifteey: We’re leaving the door open for FUCK token use cases. Some community members have taken it upon themselves to send hackers 1 FUCK to show how they felt. These types of shenanigans are FUCK Token approved and encouraged. We’ll be pushing r/gonewild adoption of FUCK as their main tipping currency. I’m sure the ladies there will appreciate a tip of real money rather than an upvote. We’re also discussing the possibility of setting up a “Give a FUCK” charity, where anyone can donate money to a cause of their choice. The word “FUCK” has so much untapped potential and we are willing to explore any possible avenue that comes our way.



BitcoinDood: So you guys are actually working on tipbots and integrating use of the 
token into various social medial platforms. Could you give us some reasons
 why anybody would “give a FUCK” on social media, and what else can we
 expect for your roadmap moving forward?


shwifteey: Right now our main focus is ironing out the details of our Reddit tip bot. We’ve noticed there is a large demand to give someone “No FUCKs”, so we’ve integrated burning of FUCKs into our bot. The concept is that you care so little about someone’s comment you are willing to light a couple FUCKs on fire, never to be seen again. This also acts as incentive for investors because the total supply of FUCKs on earth decreases. We are also creating a “Hall of FUCKs”, where the world’s biggest FUCKers and biggest burners will be showcased. I’m sure it would be nice to know you give the most (or least) FUCKs out of anyone in the world.

After our Reddit tip bot we’ll be focusing on Twitter. We have plans to create a Chrome plugin that simplifies the process of giving and receiving a FUCK on Twitter. Later down the line we’ll move towards Slack, Discord and Twitch.

Eventually we’d like to have a central hub where all of our tipping platforms are connected, kind of like a FUCK hub. That way you can link your accounts between bots and easily withdraw/add FUCKs to all social media platforms. We’re discussing integration with WordPress, so anyone can give a FUCK about your blog posts with a small widget on the bottom. We haven’t added these to our roadmap but we’ve got to keep people on their toes ya know?



BitcoinDood: You guys are currently in the process of getting listed on exchanges. Where 
can people get some FUCK’s if they want them?


shwifteey: Currently FUCKs are available on Etherdelta and NovaExchange.

Etherdelta: https://etherdelta.github.io/#FUCK-ETH

Novaexchange: https://novaexchange.com/market/BTC_FUCK/



BitcoinDood: Thanks again for taking the time for this interview. Do you have anything
 you would like to add about the project that hasn’t already been covered in
 the interview?


shwifteey: I want to give a shout out to our tip bot developer, Dave-zilla. This guys is truly a coding wizard and has done more for FUCK Token than anyone else. Big ups Dave. Also, I want to thank you, Dood, for taking the time to interview us. We appreciate the Dood and all his work!

BitcoinDood: 
Thanks, I appreciate the kind words I end every interview with the same last question. Where do you see 
cryptocurrency headed in the future? Any thoughts, trends or predictions 
you can share on the future of cryptocurrency in general?


shwifteey: Without sounding like too much of moon-kid, I see crypto revolutionizing our society in ways we can’t even imagine yet. I think the general public will never care to understand it on a technical level but will use it every day- kind of like the internet. In 1977, you’d be called a fool for trying to explain what society is like today. For crypto, I don’t think anyone can predict which coin(s) will come out on top- all I know is we are in for one hell of a ride over the next 10 years.

Thanks again to shwifteey for the great interview. If you’d like to find out more about FUCK token you can check out these links here:

www.fucktoken.io

www.reddit.com/r/fucktoken

www.twitter.com/@fucktoken

https://bitcointalk.org/index.php?topic=1945661.0

Thanks for reading this interview all the way to the end. Feel free to comment with your Ethereum address and maybe someone will give a FUCK.

Giveaway complete! I’m using myetherwallet and I keep getting weird errors! I’ll audit what was sent out and make sure everyone got coins! Thanks

My 5% – 25% Percent Rule For Altcoin Trading

Over the last few months I’ve been working on a 5% to 25% plan for trading cryptocurrency. This is a plan to always hold at least 5% to 25% of any long term cryptocurrency position. There are several reasons for doing this.

  1. Accumulate some nice trading positions
  2. Have coin to sell for unpredicted price increases
  3. Build a really strong portfolio

My original plan was a strict 25% rule, but as I started to incorporate it, I realized that wasn’t always plausible. One reason was, depending on what you purchased the coins for, 25% is a large portion to hold. Especially if you’re selling on a 10% to 25% gain. Technically you end up holding your profits. This may not be a bad idea with some really strong coins, but for other weaker coins this may not be such a good idea.

For this reason I decided to make a judgment call based on individual coin performance. For the most part though, I now keep a small portion of almost every coin I trade. Roughly I keep 5% to 25% of every long term coin I hold.

A few exceptions to the rule. Pump and dump shitcoins. Although I rarely buy into these, occasionally I speculate on complete shitcoins. These are abandoned coins with no dev or scammy devs, or no real use case. Many exchanges are full of these coins and although The Dood tries to stay away from shitcoin projects, sometimes you can just tell which way the chart is going to head and you just can’t resist. Remember though, if you get burned on a shitcoin, you have nobody to blame but yourself! I try to cash out as fast as I buy into these projects. Remember, the best way to not get burned is to simply stay away from projects like this in the first place.

Another exception to this rule might be catching a flash crash. You buy the bottom and sell the top for a quick profit. Profits are usually taken within a couple hours. I’ve been lucky enough to catch a few flash crashes, but if I don’t completely believe in the project, why bother hodling any significant position?

Another exception is occasionally I’ll take on a project and get paid in cryptocurrency. If I don’t like the coin, I just cash out to BTC. No sense in holding a coin you don’t like.

These are just a few exceptions. The bottom line is I always go with my gut. My main motivation for this rule is so something like my experience with DASH never happens again. Basically I sold a lot of DASH early and lost a lot of money… You can read about it here. https://bitcoindood.com/bitcoin-blog/2017/03/05/the-most-expensive-cryptocurrency-trading-lesson-i-ever-learned/

Now I started incorporating this rule before this last bull run and I have to say it has improved my trading considerably. For one thing, I’ve accumulated some nice bags of coins. I currently keep a journal of my base bag, or coins that I won’t sell unless an emergency arises and I need money. The really good news is, using this system, emergency cash or crypto is always on hand.

Another benefit from this is I no longer fear the early sell. A great example of this was BitShares. I bought a ton in May around 300 satoshi, sold a bunch in June at around 3000 satoshi and then watched the price continue to climb to 16,000 satoshi. The old me would of shot my load early. We all hate to admit it but hey it happens from time to time. Using the 25% rule I was able to sell a nice chunk of coins that I purchased around 300 satoshi for around 16,000 satoshi a couple months later. I still kept a small amount just in case, but had no issues watching the price drop as I began to buy back my position at around 5000 – 6000 satoshi. I’m really happy with this short sell.

That’s just one example, of the benefits I’ve recieved since starting to do this. I’ve also watched my portfolio size grow in both coins accumulated and value of BTC. The downside to this is the portfolio value will swing considerably. At one point I was down a considerable amount in BTC value, however, all the coins are paid for at this point so you’re literally playing with “the houses money” as they say.

Another benefit is, when your coins are paid for, losing your position in an attempted short doesn’t hurt as bad as losing twice on coins you were already losing on. Sell short at the top, and buy back cheap for maximum gains on paid coins. It’s a win win!

My overall goal with this however is to create some nice postions of various coins that I feel are strong and have a bright future. Imagine buying Ethereum back in 2015 at 50 cents each and still having a bunch to sell today at around $200 to $400 dollars. Nobody really knows which of these coins will be winners or losers, but chances are that there are still plenty of Dash’s and Ethereum’s out there. Keeping a small nest egg of these coins around for future speculation certainly can’t be a bad idea. Who knows maybe those 1000 coins you put aside today, will go up to $100 USD 5 years from now and will be worth around $100,000… These things happen all the time in this game, and if we don’t at least attempt a long term strategy these types of gains will never come to us.

To summarize, my long-long term strategy is to build and hold as many coins as I can. I have to follow each project closely and watch for any signs of trouble so I can plan an emergency exit if needed. Holding anywhere from 5% to 25% of my coins, in the end, if just a couple of these bigger projects really take off and become the next Ethereum, Monero or DASH, I plan on reaping the benefits of being an early adopter and long term hodler.

As usual nothing here is meant as financial advice. This is just a strategy that I’m working on for me. Please seek a duly licensed professional for finanacial advice, not some guy on the internet who refers to himself as The Dood. Never forget, cryptocurrency trading is extremely risky and never invest more than you can afford to lose! Thanks for reading and happy trading everyone.

This post was originally published to my Steemit:
https://steemit.com/bitcoin/@the-bitcoin-dood/my-5-to-25-rule-for-crypto-trading

If you’re on Steemit, stop by my page and say hi 🙂 and I hope you decide to follow me.
https://steemit.com/@the-bitcoin-dood