Category Archives: Updates

The Real Extent and Effect The Cryptopia Hack Is Having On Me.

I don’t think about the Cryptopia hack a lot. Partly because I try not to dwell on negative things too long. It took a couple days to realize exactly what could be lost. Although, in the back of my head I always knew this was a possibility. So in many ways, I was already prepared for this. As crypto traders, we know the risks and these are the games we play.

Considering the time I’ve been involved in trading, it was bound to happen sooner or later. I missed the Cryptsy debacle by about a week. I knew something was amiss and withdrew all my funds a little over a week before disaster struck. There were signs, and I acted accordingly.

With Cryptopia, there really weren’t any signs. Honestly, I was comfortable there. I never had a problem, and I really liked the UX of the exchange. Order history was always there, pages loaded fairly quickly. I was never crazy about the charts, but everything else was perfect. Frankly, it was one of my favorite exchanges.

Which leads me to my point. I’m not super concerned about the coins I had on the sight. It was a small percentage of my overall portfolio. What bothers me more, is the work I lost. In the greater scheme of things, I spent the better part of 6 months building positions, buying and selling, and preparing for the next bull run. All that work is gone now.

For the most part, I trade altcoin on three major exchanges. I haven’t really used Bittrex since they updated the site. I don’t like the UX, and I have to fumble around with my own software when I want to review order history. With that said, I just hadn’t been trading there. I even planned on leaving the exchange this year. Only a few days before the Cryptopia incident I planned on moving my coins from Bittrex over to Cryptopia and two other exchanges. Had I done that, I would have been completely REKT, with the exception of a few cold storage wallets, and my trading nut of BTC and USD.

I suppose it was a complete tragedy averted. Thinking back on that, things could have been much worse. I don’t know what will happen with Cryptopia. For the most part, they’ve always acted honorably in the past, so I’m giving them the benefit of the doubt now. I have to admit though, the lack of communication coming from the company is rather troubling. Currently, I’m expecting the worst and hoping for the best.

My understanding is that the hack was centered around Ethereum wallets and ETH related tokens. Fortunately, I didn’t trade ETH or own very many ERC20 tokens. Considering all the information I’ve received so far has been through a third party, I’m not going to comment further on what’s happening over there. Hopefully, a statement will be made, and the truth comes to light.

In the meantime, losing about a third of my work from the last 6 months is really starting to sink in. All those trades, all that position building, gone!

I practiced decent risk management splitting my position over multiple exchanges. Again, I’m not concerned about the money either. I’ll build the money back. Christ, I started in this game with pennies earned from Dogecoin and Bitcoin faucets.  Losing all that work is the real kick in the nuts!

With all that said, who knows what the future holds. For all I know, they may announce tomorrow that they’re open for withdrawals. I’m not holding my breath on that. I’ve already written it off as a loss. If for some reason I’m surprised, I’ll consider it a nice windfall.

So for now, a nice chunk of the last 6 months of my work is flushed down the crapper. I’ve already started rebuilding my positions. That’s all I can do. Move forward. Never look back, keep on learning, and try not to repeat the mistakes of the past. Another hard lesson learned!

Happy New Year From The Dood

Happy New Year.

Like many in the crypto space, I’m happy to leave 2018 behind. We started 2018 enthusiastic and hopeful, only to slowly watch the price decline over the entire year. Some of us took record gains, while others bought the top and watched as the value of our investments slowly dwindled over time.

This is how markets work. What takes years to build and tumble in the stock market happens in mere months with cryptocurrency. Now we play the waiting game. Looking at charts for levels of support, watching trade volume closely. All of us looking for some sign the bottom is in and the bear market is over.

I honestly expected a correction in 2018. It was inevitable. I expected a bottom around $10k and my worst case scenario was somewhere around $5K. I took some profits near the top, bought some new toys, re-furnished the house, then slowly bought the dips on the way down. It’s important to take profits in this game. It’s why we trade!

I bought the dips slowly and built my dream crypto portfolio. Watched as the price and value slowly dwindled. It was painful, but this is a long-term game. I continue buying, building, and waiting. That’s my game plan for 2019. Build strong positions in strong coins. What goes up eventually goes down but the reverse is also true. These are market cycles and nothing in this life is permanent including bull/bear markets.

Although I feel terrible for the people that bought into the media hype of early 2018. Better days are coming for the strong handed and brave. I’m going to look at 2019 as a rebuilding year for me. I’ll continue to look for strong projects, and continue to build my portfolio. Watch for levels of support and resistance. Swing trade when I can and continue to build BTC, USD, and alts. Now is the time to prepare for the next bull run. Those that take advantage of the bear market will reap the rewards of the bull run!

2018 was an incredible year filled with emotion. 2019 is the year of rebuilding. Stay positive, stay focused, and always look to the future with optimism. Wishing you all a healthy, prosperous and happy 2019! Happy New Year from The Dood! Let’s make crypto great again and make 2019 another great year to remember!

The-Dood

August 8, 2018

It’s been awhile since I’ve written anything. I did a white paper review of VSYNC the other day, and beside that I’ve been doing a lot of screwing off this summer. Honestly, I spent almost 3 years sitting in front of a computer staring at charts and really needed the time off.

The 2018 crypto market is nothing like I expected. I certainly expected a correction when bitcoin rose to 20K, but never expected almost every alt to return to 2017 lows. What a pump, and what a retrace!

In the meantime I’ve been enjoying the summer, putting low buy orders in, accumulating and like most of us, hoping this bear market turns. I bought a couple motorcycles, and I’ve been riding and waiting… Riding and waiting… Riding and buying and waiting….

Finally started getting tired of riding and waiting. Time to start acting. I’ll still be traveling around a bit this summer, but it’s time to get back to work. Oh, and I’m thinking about starting a travel blog, just registered themotorcycledude.com… Nothing there yet, but the wheels are in motion.

So I’ll be working on websites, updating this one… God knows it needs it. I’ll also be posting regularly again. Not sure how often but you should be able to expect at least a few posts a month. Thanks for reading, stay strong traders, sooner or later this market will turn and we will reap the rewards of our efforts!

The Dood Makes Feedspot’s Top 100 Bitcoin Blogs

Checking my email the other day I discovered that The Dood’s blog was selected to be included in the Feedspot Top 100 Bitcoin Blogs. I received a graphic to display on my blog, and I linked back to the website hosting the top 100 blogs. It’s a great list and if you like reading about cryptocurrency news and current crypto events, you really should check it out.

I am honored and humbled to be listed among some of the great names listed there. The list includes all our favorite news sources like, NEWSBTC, Cointelegraph, Coindesk and more. There are some great names in crypto listed there like Andreas Antonopoulos, Vinny Lingham, MadBitcoins and other great internet personalities. I honestly feel the blog isn’t worthy to be included among these names, but am truly honored that someone chose to include it in the list. I haven’t been blogging as much as I would like to lately, and I think this was the motivator I needed to get writing again. BitcoinDood.com… is a labor of love and a project I work on in my spare time. I need to start making more time for writing here.

Thanks to everyone that has helped to support this project, with your comments, retweets, shares, likes and links. One of the best decisions I ever made was getting involved in the cryptocurrency space. I’ve met some of the funnest people on the internet, and learned so much from all of you. Thanks for your continued support, and I look forward to interacting with you all in the future!

You can view the Feedspot Top 100 here.

 

What’s Up With The Dood?

Chilling by the Niagara river.

A little end of summer chilling. Relax mode.

I took a short break from blogging.  I wrote about unplugging in a steemit post I did and  frankly I was feeling a little burned out. It’s the end of summer, it’s been really hot, and between trading,  twitter, social networking, and blogging, I just needed a little break. LOL, I guess you can call it that.

I have a week off from work and I decided to start a bunch of projects that I’ve put on hold for far to long. There was some badly needed site maintenance that I need to get into, I started the DoodBot project and got a cryptocurrency chat room going on Dal Net IRC. Oh, to just pile it on, switched over from coding in PHP to Python now. I guess I thought there wasn’t enough to do LOL….

So although the blog seems quiet I’m actually spending the last week of my summer vacation, taking a crash course in python, and doing a lot of design work on the site. All stuff behind the scenes, but that should improve site performance.

I discoverd bitcoindood.com… has one of those ominous code warnings when you use certain browsers! There’s nothing dangerous about the site, it’s just how I set up some API calls and different PHP scripts I have running. That’s getting fixed in the next day or so, probably even tonight after I watch From Dusk Till Dawn …

DoodBot is going to be a twitter bot, that I want to post all the news, coin prices, and cryptocurrency related podcasts. I started coding him two days ago and got him working but I’m not happy with the results. DoodBot’s search results from twitter are spammy, and I’m having a hard time getting him to post the types of results I want. If you get a chance, stop by twitter and check him out twitter.com… So far I’ve got the quote script working satisfactorily. If you follow, be warned DoodBot’s results are a little spammy with twitter searches, and I’m still configuring and fine tuning the results.

I started a #cryptocurrency chat room on DalNet IRC. DoodBot IRC is in that chat room, and still needs a lot of configuring too. Eventually I’m trying to figure out a way to make DoodBot IRC and DoodBot twitter communicate. I pop in and out of the that room a few times of day though, sooo if you’re bored and think of it pop in and say high 🙂 I’m @BitcoinDood and if it’s just DoodBot in there, type something in the room and I’ll see it when I check his host. Which reminds me, that has to get paid…

So, yeah, The Dood’s staying busy. I’m going to try and get back to regular blogging. The little bit of blogging I’ve been doing has been getting posted to steemit. I’ll be doing a review about that blogging platform too. Very cool site steemit … You can find me here: steemit.com…

On a final note, it’s end of summer here and I will be back to posting regularly. Summer past by quick this year, and I’ve just been enjoying the last few weeks before it passes me by and I’m sitting in the house snowed in! LOL… Hopefully that won’t happen anytime soon, but hey I live in Buffalo NY and I’ll tell you now, it gets cold here quick. I’ll be enjoying the last few day of summer, and I’m also looking forward to the cool autumn change of seasons here. I’ll make time to post though, I promise. Hope everyone had a delightful summer, talk to you all soon!

Peace!
The Dood