About 4 days ago we heard the news that the COTI treasury was shutting down for the foreseeable future which left the use cases for GCOTI in jeopardy. I calculated at the time with the then current price of GCOTI if I swapped my tokens for COTI I would end up with around 46K COTI.
I was mulling over what to do whilst making a cup of coffee and by the time that took my GCOTI was only worth 42K COTI. This was within minutes of finding out the news and I scrambled into action and managed to swap out my entire stack of GCOTI for 40K COTI which is $450 in real term value. I thought that was a bad result, but looking at the current prices and swapping ratio I would only get back 7966 COTI which is worth $88 currently. That is roughly an 80% loss and shows how lucky I was as timing is everything. This is a rare win as this never happens for myself.
This process kind of reminded me about when we all left the previous chain and powered down to move selling of the token and swapping for HIVE. It was not that obvious at the time but time was of the essence as that token was going to tank with all the sell pressure. I cannot remember how much that delay cost me, but it must have been a few thousand HIVE and was kind of a lesson learned that this is more about everyone for themselves and survival of the fittest. We may be a community, but when it comes to tokens the fastest hand wins and if you snooze you lose.
Many of the crypto pumps in the past I have missed because they generally take place for some reason in the early hours of the morning. The Koreans are 9 hours ahead of GMT so a 3 am pump is basically late morning to midday so this is very convenient for those in that side of the world.
The one problem I have been thinking about for some time is what happens in the Bull cycle knowing that timing is everything because it can be over before you know it. The problem with this next cycle is we are holding much bigger bags than we had previously so missing this would be catastrophic and there is going to be many sleepless nights when it finally happens. The adrenaline and those brain endorphins will keep us awake and on edge so it will be fun yet stressful times.
The obvious solution is to set your selling prices on the exchanges, but who knows how high the prices will rise and it would be advisable to be present and wide awake. One could always move the selling points as the price rises so at least you are guaranteed to catch it on the way down if it suddenly did turn. I know it is recommended to sell when the coin is rising in price and not on the way down so the trick is not to sell too early and not too late as you will neve catch the top. The nightmare of selling at $2 when the token hits $20 is a realistic possibility as there is so much unknown and why laddering in and out is the wisest solution.
Going back to the GCOTI I feel for those still who have not claimed their tokens as we have only seen the Treasury stake drop from 153 million to now which is 123 million so 75% of the price has been removed with only 20% of the stake.