This article is part of a series on the fundamentals of KittyCash. Over the course of the next weeks, we will release relevant information about the game and its parts.
What is KittyCash?
KittyCash is a next generation blockchain-collectables game developed on Skycoin’s Fiber technology. KittyCash is resolving the fatal issues of Ethereum-based games by using the Fiber blockchain that provides infinite lateral scalability. KittyCash is running on its own blockchain.
How is KittyCash different to other collectables games?
KittyCash is more than a mere crypto-collectable, because it allows players to customize and skill their Kitties to achieve better breeding results and prevent mutation. Although it is often compared to Tamagotchi, KittyCash has a more ambitious aim for the future — bringing real games on the blockchain. With CX, the Skycoin ecosystem offers a programming language that makes it possible to develop all forms of games for KittyCash and use them as a world for our Kitties to live and play in. We are convinced that crypto-collectables should not be mere speculation vehicles. Therefore our Kitties will require care and a (relatively) regular feeding. Taking care of Kitties will improve their breeding performance, prevent the death of Kitties and allow them to wear better accessories. The healthier the Kitty, the fewer mutations occur during breeding, the more often the cat can mate, be transferred and be equipped with items. A more detailed guide on the HP and DNA of the Kitties will be released shortly on our blog.
The Kitty Economy.
Kitties just as in real life, require attention and care. In order to guarantee a sufficient supply of food to keep the Kitties alive, each user will receive a daily supply of free food that can sustain the Kitties owned. Owners of Kitties are therefore not dependent on market behavior for sustaining their pets. This supply is sufficient to keep the cats alive and keep the health of the cat stable. If user do not feed their cats regularly, they will die and not be able to breed, change ownership or be equipped anymore. If a cat dies, users get allocated surplus food and items that can be sold on the marketplace to help players to keep their next cat alive and well. KittyCash allows the user to trade Kitties, accessories and food on a KittyCash marketplace. A constantly increasing range of accessories, food types and Kitties will be available for purchase from KittyCash. However, users can also trade their own food, accessories and cats on this marketplace, depending on their preferences and the supply and demand for the items in question. After the development of our basic infrastructure and breeding functionality, KittyCash will start the development of mini games that can be accessed with Kitties. Those games will be a place to use and win accessories. During the first stage of KittyCash development, Skycoin will be the main currency accepted for in-game purchases and payments. Together with the Skycoin team, we are working on the implementation of CoinHour payments that will eventually be the main ingame currency. During the IKO, Kitties can be bought with bitcoin as well in order to help users from outside the Skycoin community to access the game more easily. A more detailed guide on the different functions and parts of the Kitty Economy will be released shortly on our blog.
It is your Kitty and no-one else’s.
Every Kitty in the game is unique and non-replicable. All your Kitties are safely stored in your wallet that we call Kittery and only you can access your cat, equip it and transfer it. You can play KittyCash your own way, the way you like it. Whether you prefer your Kitty to be a cute home pet or a weapon-geared drug-mulling gangster El Gato. Accessories for all those purposes will be provided.
Supply of Kitties
Kitties come in a limited supply of 40,000 Generation A Kitties to be ever sold in the IKO. Together with the bounty Kitties that means that there are and will be only 42,000 GenA Kitties. The price for Kitties will start at around 10$ for the Tabby Breed. There will be five other breeds available for the start of the IKO. Every month, one new breed will be distributed in the IKO. The 40,000 GenA Kitties will be sold over the course of a year.
KittyCash is a new project with a young, enthusiastic team of developers and executives that aims to show the world how the future of gaming could look like. We strongly encourage our whole community to learn more about our project and see all the exciting possibilities and plans ahead of us.
For more information about the KittyCash project visit our .
So, you’ve finally scored big on a crypto trade! You put in a decent amount of BTC/Fiat into an investment of your choice on an exchange, and you were rewarded with a hefty profit!
You’re excited and happy, but you’re also conflicted. Is this where you pull out and ensure that you keep all the money you’ve gained? Or should you stay in the trade and ‘ride it out’?
If you’ve ever found yourself in the situation that I just described above, this article is for you.
Above is an example of a call that I had made a few days ago. I called this around 160 sats, and it had grown to 186 sats the following day. Following that, it grew to 200+ sats, representing an approximate profit gain of 25%+ from one’s initial investment.
One of the main questions I was asked about, however, was ‘should I stay in?’
That’s when I noticed that there was a major deficit in the teachings that I had delivered to folks — which was profit taking.
So, the above example will be used as our case study for this article in how one should play a coin like this:
Mini-Guide on ‘Taking Profits’
Let’s say you put in $1,000 on Siacoin at the time of the call (hopefully you audited my call, did your own due diligence and decided that it was a good entry first).
Now, let’s say that you gain 20% after the first day. This is a pretty robust gain.
What Would I Recommend?#1 — Take out 50% of your profits
Why? Well let’s break down the situation here.
You’re up 20%, which, in my trading experience, is something that anyone would be happy with. However, in the wild word of crypto, 20% can sometimes look like a pittance compared to the astronomical returns that other coins can get when they’re ‘pumping’.
In my opinion, once something surpasses the 20% range, you should start seriously considering locking in a solid amount of profits.
Now, profit-wise you’re sitting at +$200. I would recommend that you take out 50% of your profits (not of your entire initial investment).
So, this would be a withdrawal of $100 worth.
Now, you have $1,100 left in the trade and $100 of locked-in profit.
Before I move forward, let me be clear on one thing.
When I say “locked-in”, I mean guaranteed. Like no matter what, you’re leaving with that 10% profit at the very least.
Naturally, the next question that you’re probably asking yourself here is, ‘How do I guarantee that I don’t leave with any less than 10% profit?”
Great question. You do that by setting a stop-loss immediately afterward.
Now, when doing so — it’s important to note that you don’t want your stop-losses to be too tight or they might get triggered prematurely, causing you to get liquidated out of your position.
You also don’t want your stop loss to be too liberal or you’ll risk jeopardizing that 10% guarantee that we’re aiming to keep.
So, based on my estimates, the optimal stop loss to set here would be one that’s at roughly 5% below where the price is at after you’ve taken out your 50% profit.
I suggest that because even if your 5% stop loss gets hit at some point, you’ll still be left with profits above your initial investment.
Mathematically, since you have $1,100 left in the investment — if it loses 5%, then you’re left with 1,045 (1,100*.05=$45. $1,100-$45=$1045).
Remember, our initial investment was $1,000. You’d have an extra $45, plus the $145. So, $145/$1000= 14.5%.
So, with this stop loss, you’ve not only guaranteed yourself that 10% investment, but an additional 4.5% on top of that.
Is it the 20% you could’ve had? No. But this is assuming the worst-case scenario.
Now let’s imagine that you’re a poor planner and you just simply let your profits “ride”
Even if you set the same stop loss (5%) with everything in there ($1200), you would still be at a deficit. Let’s check the math on this below:
$1200*.05 = $60. So, $1200–$60=$1140. $1140<$1145.
Albeit, $5 is a small number, it’s a superior strategy. This is all assuming that one were to set a tight stop loss of 5% from where they are.
If you declined to do so? A 17% drop from that point would erase all profits.
#2 — Check On Your Trade Every 10% Gain From There
So, let’s say your stop loss doesn’t get hit and your trade is continuing to appreciate.
Another good place to take profits would be at the next 10% gain.
So, let’s recap:
You’ve put away $100. You have $1100 left. And the investment has appreciated by another 10%.
Now you have $1210 ($1100*.10=$110+$1100=$1210).
At this point, my personal preference is to take out another 5%.
Why not another 50%?
Because, that initial 50% is just to lock up the majority of your profits.
So, if you take out 5%, you’ll be removing $60.50 ($1210*.05=$60.50).
At this point, you have $60.50+$100=$160.50.
You’ll also have $1149.50.
After this point, I’d go ahead and place a tighter stop loss of 3%. Once again, this would stop you in profit. It may result in you getting stopped out of the trade at this point, but if the price is revving ahead, you should be fine.
Assuming this stop loss gets hit, you’d have $1,115.02 remaining.
Since your initial investment was $1,000 — the additional $115 (the additional .02 is irrelevant here) also serves as profit too.
This brings us to $115+$160.50 for a total of $275.50.
This would represent a profit of 27.5% (275.50/1000=.275).
Keep in mind, this is off of a 30% gain.
So, with this strategy — you’ve only lost 2.5% of what you could’ve earned at max.
Conclusion
This isn’t the perfect profit taking strategy, but it’s a mighty damn good one in my opinion. To set yourself up to lose no less than 50% of your profit in a trade where you’ve gained 20%+ is a great deal. Especially for traders that are used to trading with a lot of assets/resources.
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