Boy oh boy
I bought some lite coin at 93 it hit 400 now back down to the 300 neighborhood
I’ll give some tips, some currencies I invested in:
ADA, XVG, XRP, litecoin, iota
I am making a killing
Discuss?
I Roulletteghost .....
Can you explain A to Z how do you by bitcoin ... What exchange site you use ....
And walldt you use and trading site you use ..... Cause im interessed in crypto
Thanks
Government currency is actually based on LESS than Bitcoin.
Government money is a debt note. It only has value because people think it has value. In this sense its the same as bitcoin but without banks. The miners have the control with bitcoin though, instead of banks. But government's have control over miners.
Bitcoin is part of a big change. But its not the saviour people are thinking it is. I could really type for hours about this.
Rg those are good coins. Ive made my own investments too, and just acquired an exchange a few months ago.
Anyone who buys coins should understand what gives a coin legit value. Many coins fade to nothing.
2 days ago as xrp boomed, investors started to think the experts were right about bitcoins flaws like scalability. People started to dump btc which then crashed the market. Its recovering.
This reality check crash will happen repeatedly as the inferior technologies get weeded out. If you choose right, remember to hold.
@RG: I'm glad you're making money with Bitcoin. GL on that
I can't help but think Bitcoin, Lightcoin are virtual assets. (in a negative sense)
What's the difference bt this and a possible Enron?
Bitcoin was just the start. Its now old technology and definitely going to crash hard if it doesn't change technology. It did and forked to bitcoin cash because miners didn't agree, but that has problems too.
The whole field is changing very fast. Lots of new exchanges popped up and the software is easy enough but the hard part is government compliance because you need a financial services license, which is loads of paperwork. But soon enough the exchanges will mostly be a thing of the past because of atomic swap technology. Ive already started ico promotions in arrangements where companies pay in coin for promotion. It costs them very little up front, like 500k coins worth $0.005. But when the coin reaches $0.20+ or even $20+ Its more significant. There are thousands of coins now all wanting promotion. Most arent even listed on exchanges yet. Ico promotions are basically the same as stock promotion i did 20 years ago but i was paid in stock instead.
Another booming sector is coin related domain names but that's smaller scale. Lots of other even better areas if you look.
Anyone not familiar with what's going on better get on board quickly. But if you don't understand the technology and make mistakes you could lose your entire investment. If you are unsure, then dont invest more than you can afford to lose.
Ps proof, money is a virtual asset too. Its all just numbers.
Quote from: iar000 on Dec 22, 10:19 PM 2017
I Roulletteghost .....
Can you explain A to Z how do you by bitcoin ... What exchange site you use ....
And walldt you use and trading site you use ..... Cause im interessed in crypto
Thanks
I live in the US we are limited to Bittrex and kraken
I’m in NY so even more limited. Bittrex is what I use along with gdax
Quote from: Steve on Dec 23, 01:19 AM 2017
Government currency is actually based on LESS than Bitcoin.
Government money is a debt note. It only has value because people think it has value. In this sense its the same as bitcoin but without banks. The miners have the control with bitcoin though, instead of banks. But government's have control over miners.
Bitcoin is part of a big change. But its not the saviour people are thinking it is. I could really type for hours about this.
Rg those are good coins. Ive made my own investments too, and just acquired an exchange a few months ago.
Anyone who buys coins should understand what gives a coin legit value. Many coins fade to nothing.
I missed the bitcoin train
Lite coin is actually better tech. And xrp is even better
Thanks
Quote from: Proofreaders2000 on Dec 23, 03:37 AM 2017
@RG: I'm glad you're making money with Bitcoin. GL on that
I can't help but think Bitcoin, Lightcoin are virtual assets. (in a negative sense)
What's the difference bt this and a possible Enron?
You are skeptical. Rightfully so
Wow xvg (verge) is going wild! My investment increased by 8 times in a week
I never invested in anything before so this is surreal to me
!!
Verge is good but be careful of the privacy coins. One announcement about government regulation and they'll crash bad. And litecoin is not a lot better than bitcoin. For now the gains are strong for almost all coins because of so many crazy new investors flooding the market. It wont last. Maybe 6-12 months before a big shake up. Then the better coins will perform much better. Weaker coins will crash.
No doubt many will fail. That’s why I bought a few. Lol
Must admit its catching everyones interest at the mo. I think the media hype around start of decemeber is behind a lot of temp.increases.
Steve are there any good sites to get a grounding in everything crypto?
I definitely want to invest. I'm tired of watching those young guys on youtube raking in huge profits, while I struggle with my <$10K/y salary and miss out on everything.
I was looking at Ripple before Christmas when it was around $0.70, but I was too busy with everything to work out the best way to put the money in. Apparently it's not that simple.
Ripple is now worth $1.85! I could have doubled my investment in two weeks, but I missed out again...
I have 650 ripples that I bought at 20 cent
2700 verge I bought at .05
If I knew then what I know now I would have put everything into ripple and retired.
I also bougth XRP when it was @ 24 cents :) I recommend you old on to them, it will go up more.
If it hits gdax expect $10.
Can we breach $3 today?
Ripple is definitely going up, but it has probably passed the optimal growth point. So if you weren't in on the ground floor, you mostly missed the boat. If you managed to buy early, just sit back because even small price changes are often $100k profit. Yes, cryptocurrencies are definitely worth looking into. But don't go nuts because if you make mistakes you can quite easily lose heaps.
Back when I started in stocks I often backed some that increased over 1,000% within weeks. One of them was Rentech, which you may have heard of associated with me before. That sort of gain was nearly unheard of with stocks, but its common with cryptocurrencies.
Fossel, I wanted to write an ebook about it when I had time. But some quick tips:
* Research and understand the technology and why it's important. Mostly the blockchain just means "a bunch of computers around the world that share the same information and agree on something". For example, they all know your account has 10.3 Bitcoins and that you sent some to another person. When enough of the computers know about the transaction, it is considered confirmed.
* Recognize when new use for the blockchain is innovative, or just repeated crap. For example there are thousands of new cryptocurrencies that just copy bitcoin, trying to be the next bitcoin. There are so many crytptocurrencies now. How many do we need?? Many new and inexperienced investors buy into new currencies at like $0.001 expecting they will worth $100 per coin later, when they in fact die and become worthless.
So understand when the new use for the blockchain technology is likely to be USED.
For example, ripple took off because it's like bitcoin except hundreds of times faster. Plus its cheaper for make payments. Unless it changes, Bitcoin will eventually become nearly useless because it is an old and slow system. The only thing keeping it afloat is its name, its acceptance, and the need to use it to buy other crytptocurrencies.
* Look at the company behind the coin. Do proper research. Some are probably one man bands.
The above parts are what usually separates successful investors from the everyday investor. The difference can be millions even with the same starting balance. Most people probably don't have the technical expertise to understand what's good and what's not.
* Use only reputable exchanges. They often do some of the weeding out of scam coins. But at the same time, the more reputable exchanges are often slow to add new coins... and by the time you can buy them, the price is already much higher and you miss out.
* Dont rely on what other people say alone. Many people are full of shit, and just want to hype a coin so they profit. But often there are serious and honest reviews of coins, from people who also own the coins because they believe in them. Just check any facts they present, and don't rely on claims like "this coin is gonna rise".
* Just because a coin shoots up 100% in 24 hrs, it doesnt make it a good coin. Often "whales" (big investors) manipulate the market by buying from themselves or associates. Basically they start buying a dormant coin to make it look like a buying frenzy. Then everyone hops on board buying too, which makes the price go even higher. Then after perhaps another 20% price increase, the whale dumps and sells. Then the price falls suddenly. It happens with the stock market too, but it is much easier for scammers to do with microcap coins (coins with fewer amount of coins in circulation).
* HODL (means "Hold On for Dear Life). The coins are very volatile. They go up 120%, then down 40%, then up 60%, then down 30% etc. If you chose good coins, just hold. Never sell in a dip or you'll lose for sure. Understand while some people are selling in a panic, there are others waiting and wanting to buy the coin cheap. And that's when the price quickly "recovers". It happens all the time. So don't freak and panic when the price dips.
* Follow the news. Keep an eye on :.cryptopanic.com and a few other sites. Keep an eye especially on company news on their websites. I use a bot that messages me whenever particular companies publish news. So if the news is bad, and likely to dip the price, i'll sell - then re-buy when the panic wears off. This is called "shorting". So even when the price dips, you can still profit.
Also consider is the news really bad for long term value, or just likely to cause a short term panic? If there's a long term problem, get out asap.
Some people respond to news almost instantly. But usually it takes the market to respond to news within 12-24hrs.
* Start small. Don't play with more you can afford to lose. You'll hear this often but really if you make rookie mistakes you can lose a lot.
* Expect this buying frenzy to eventually slow, and become more docile like the stock market. At the moment, most coins are going up because of the new money coming into the market (most people are BUYING). So its all shiny and new for now, but sooner or later there will be a reality check. 2017 was the major period of growth. This will probably continue into most of 2018. Many coins/companies will die, the better ones will live and continue to grow, although at a slower rate.
* Be very careful of coins that ignore government regulation. they will eventually likely end in disaster because governments can ban them from exchanges, which makes them much less valuable overnight. Focus mostly on companies that are prepared to work with government regulators, like Cardano and Ripple. Most people dislike regulated coins, but regulation is "mostly" a good thing. We are a while off not having draconian governments, so if you want to accumulate wealth, you cant ignore them, yet.
* Have a good and quick exit strategy. If the market turns to absolute crap for some reason, and its likely to continue, you need to be able to quickly convert to fiat currency like USD so you don't lose heaps. For me, I sell straight to XRP (ripple) then use BTCmarkets to covert to AUD. Then it goes to my account. Lucky for me its a local company even in the same state. If your exit strategy is just sell to BTC (bitcoin), you will lose because the market follows BTC price. So if you have one coin and it tanks bad because of news that affects all coins, then BTC will probably be tanking too. At least if you convert to ripple then AUD/USD it will be quickest. If you tried going to BTC then AUD/USD it would take many hours, and be too late.
* Every now and then, hedge your profits. Take some funds out just in case things turn to crap.
* Understand the types of waves in the chart (known as "technical analysis"). Most technical analysis is bullshit. Where it's not bullshit is humans are pattern-seeking morons who look for patterns and think there are patterns where none exist (same as roulette system players). But because many people look at waves and price charts, this makes everything easier to predict. You need to consider what the sheep are thinking and will do. For example, when a coin starts to take off and you see the uptrend curve, people start buying more. But when it is absolutely goin nuts (like vertical line), people are just waiting for the sudden drop. Then the "bears" manipulate the price and it drops suddenly, and triggers more selling. Then the bulls start buying cheap and it starts going back up.
* Diversify. Don't put all money in too few coins. Having 8-10 coins is ok. 30+ can be difficult to manage. I prefer to have 1-2 leaders per particular industry.
* Be Disciplined. This is harder than it sounds because when prices are in free fall, you will want to panic sell, which will probably end up losing money. And when they are shooting vertical, you will want to buy, which will probably end up losing money too. So carefully think out your plan and stick to it.
* Have a really good chat with your accountant. Capital gains tax is a killer.
* If you have nothing else to do with the profits, buy land. It's by far the best asset you can have. If you profited with investment fund land, then you get taxed much lower (around 15% instead of 49%), and later you can buy the land personally from your superannuation fund. This is leveraging yourself. It's basically buying land without mortgage interest. I do recommend getting mortgages to leverage yourself regardless. This is good debt because you profit from it. Bad debt is something like credit card debt and interest where you get nothing from it.
Anyway there's a lot more to it but this should help avoid common mistakes.
I added more to the above post. It's all very similar to the stock market which I've been in and out for 20+ years. It's mostly about human predictability.
read and noted
that capital gains tax is a killer...like 30%
i have had ripple since .20 and ADA since .50
litecoin since $90
im up several thousand so i am a happy camper
they are very volatile
sell ripple or hold? i dont know what to do
if it hits $10 im taking half the profit and leaving the rest in
today i bout PAC, its a sub penny coin, i have 700k coins worth. if it hits a penny I sell and make good money.....the trick is to get into a sub penny coin that will "make it"....a few hundred dollar investment in a sub penny coin can easily net you 100k dollars if it hits a penny lol
right now my portfolio (you are right, diversify) is ADA, XRP, LTC, IOTA, XVG, PAC
give me some luck on PAC huh, lol 700k coins worth...it will fork in march and i will go from 700k to 7k coins but the worth will be the same...research the fork on it and get in :)
LTC has a bright future to i believe
to add to above, I am on bittrex, coin base, binance, and cryptopia. you may know cryptopia, it is new zealand based
always use two factor authentication, my bittrex got hacked and it saved me
Good read Steve cheers. December has been nuts across the board it seems in crypto. I'd imagine it would level off except most of the big exchanges are all overloaded and cant process registrations and verifications with massive backlogs.
That huge influx of new clients are still to invest, be it bitcoin or ripple etc. Thats a lot more money to come to market still!
Actually getting into the market and buying any coin from a noob perspective is hard work and full of pitfalls!
It seems the one of the very things crypto sets out to solve in this world, in that making transactions quick and cutting out the middlemen is its main huge crux.
Lots of cryptos seem to be trying to instigate FOMO speculation with media hype about upcoming announcements of partnerships etc.
Tron as an example announcing a major new partner in January that could lift its price.
It does seem like the ship set sale for most coins at the start of December. Just be interesting to see what all the new money does to the market.
Unfortunately I only tried to get in after the December hype, and I have still not been able to deposit any money. I've spent a lot of time researching the exchanges, signed up for a couple, but I cannot get my accounts verified. Some exchanges don't even accept new members, and some are just thieves, charging 5-10% transaction fees.
It's weird that I have to take webcam photo of myself (which GDAX rejected 15 times so I gave up), upload selfie holding a hand written note, or on one exchange I have to video chat with their staff in order to get verified. I have never seen such requirements on any site before.
Forexfactory has a few threads on cryptocoin. You can leverage trade with MT4 fx brokers.
link:s://:.forexfactory.com/showthread.php?t=724338
link:s://:.forexfactory.com/showthread.php?t=432733
link:s://:.forexfactory.com/showthread.php?t=649649
link:s://:.forexfactory.com/showthread.php?t=725415
The recent surge in bitcoin to $20k is due to the futures launch on CME.
Quote from: cht on Jan 06, 06:07 AM 2018
Forexfactory has a few threads on cryptocoin. You can leverage trade with MT4 fx brokers.
link:s://:.forexfactory.com/showthread.php?t=724338
link:s://:.forexfactory.com/showthread.php?t=432733
link:s://:.forexfactory.com/showthread.php?t=649649
link:s://:.forexfactory.com/showthread.php?t=725415
The recent surge in bitcoin to $20k is due to the futures launch on CME that followed by a crash to a low of $11,139 two weeks ago.
Quote from: Steve on Jan 04, 06:59 PM 2018
* Understand the types of waves in the chart (known as "technical analysis"). Most technical analysis is bullshit. Where it's not bullshit is humans are pattern-seeking morons who look for patterns and think there are patterns where none exist (same as roulette system players). But because many people look at waves and price charts, this makes everything easier to predict. You need to consider what the sheep are thinking and will do. For example, when a coin starts to take off and you see the uptrend curve, people start buying more. But when it is absolutely goin nuts (like vertical line), people are just waiting for the sudden drop. Then the "bears" manipulate the price and it drops suddenly, and triggers more selling. Then the bulls start buying cheap and it starts going back up.
Steve, based on the description of your speculation activity you are essentially a fundamentals investor.
You have zero knowledge nor experience as a trader.
Just stating this relevant point to the comment above.
QuoteYou have zero knowledge nor experience as a trader.
I suppose you've earned millions with stocks too, right?
Quote from: Steve on Jan 06, 10:59 PM 2018
I suppose you've earned millions with stocks too, right?
I wouldn't post that on a forum. ;D
Good discussion is fine but remember nobody is an expert in everything.
Everyone has an opinion, sorry Steve but note the following:
- Not wise to give tax advice unless you are a tax agent - Australian Tax System: The amount of tax applied on Capital gains depends on your marginal tax rate (All income is combined and rate is used) and if you have held the asset longer than 12 months potentially your assessable income is halved but depending on whether you are an individual or another entity as a company would not get this concession.
Yes perhaps on average then it could potentially be approx 30% but depends....
eg. As an individual if your only income is a $100,000 then your average marginal tax rate (total tax) could be potentially $26,600 (approx 27%)
If your total income is $200,000 then tax potentially is $67,232 (approx 34%)
If your income is total of $20,000 then no tax at all.
- Technical analysis - Stocks in my opinion isn't the way to make millions (some do) as you need to do what the banks are doing and trade Forex and I'm sure they will eventually kill the market with their Crypto involvement. You need stocks to go up to make money. In Forex you can buy or sell currency pairs so greater potential for profit either way.
With Forex, technical analysis is all about waves and reading the charts. It seems perhaps your knowledge and understanding of chart analysis is lacking if you are saying money cannot be made by technical analysis. Trading fundamental news can make higher gains quicker but also depends on your technique. Picking the direction is only part of the picture, equity management is the key. I only need to win 35% of trades and still be in profit (adequate risk/reward ratio).
My turn to fluff my feathers out to see who is the most beautiful peac***.
I would tend not to use bold statements as this can decrease your credibility.
My 2 cents worth.....out
Regarding taxation, it's something I know very well. The advice is from my accountants, but its really not hard for anyone to read the tax office guidelines anyway. But the kind of thing you wont find on the ATO website is how you can buy a property with your superfund then buy it from the the superfund with no interest.
Regarding stocks, technical analysis looks at the effect. All investing is about ROI. The "edge" you get with technical analysis is marginal compared to factors like the company's long term value, competitiveness, and value of stock. We are talking potentially hundreds of times greater returns than technical analysis alone. Technical analysis is more about the psychology of other investors.
QuoteMy turn to fluff my feathers out to see who is the most beautiful peac***.
I would tend not to use bold statements as this can decrease your credibility.
Sure in the eyes of anyone clueless who thinks I'm full of shit.
Quote from: Steve on Jan 07, 05:03 PM 2018
Regarding stocks, technical analysis looks at the effect. All investing is about ROI. The "edge" you get with technical analysis is marginal compared to factors like the company's long term value, competitiveness, and value of stock. We are talking potentially hundreds of times greater returns than technical analysis alone. Technical analysis is more about the psychology of other investors.
Sure in the eyes of anyone clueless who thinks I'm full of shit.
Why would Goldman Sachs commit billions in trading the financial markets if the returns is hundreds of times greater in stocks investment as you claim ? There are trillions traded daily on the largest market with banks, thousands of hedge funds and other financial institutions that trade the fx market besides other futures and options trading diverse assets. The key word here is
trading.
I'm not putting you on the spot. It is what it is. More shit talk only lowers your credibility.
Quote from: cht on Jan 07, 08:57 PM 2018
Why would Goldman Sachs commit billions in trading the financial markets if the returns is hundreds of times greater in stocks investment as you claim ? There are trillions traded daily on the largest market with banks, thousands of hedge funds and other financial institutions that trade the fx market besides other futures and options trading diverse assets. The key word here is trading.
I'm not putting you on the spot. It is what it is. More shit talk only lowers your credibility.
No more comments from me on this. Back on topic.
I'm not shit talking. It's just your understanding.
Regarding your question, I haven't referred to anything like that, and I don't know enough about their investment to comment about that. Although when you are investing larger amounts like billions, your approach changes. Like if you have $1m of a particular stock you are trying to short, but the trading volume is very low, it's much harder because you have a lot more to sell. But it's easy if you are only looking to short say $5000. Now try doing something like that with $1B+. It is more feasible to deal with entire economies and a nation's currency.
Anyway my comments were about using technical analysis vs my approach, which applies to any form of trading - but more specifically stocks and cryptos. It had nothing to do with fiat currencies.
I'm not sure why you want to argue. How about you do what works for you, and I'll do what works for me.
Sure ok, back on topic. On that note, again be very careful investing in a coin unlikely to compete. The only reason crappy coins are doing well is because of the new money flooding the market. Many coins are going to go down the tubes. A lot of coins are created solely for the creators to sell their pre-mines. After that, the developers dont care what happens.
Quote from: RouletteGhost on Jan 05, 06:35 PM 2018
read and noted
that capital gains tax is a killer...like 30%
i have had ripple since .20 and ADA since .50
litecoin since $90
im up several thousand so i am a happy camper
they are very volatile
sell ripple or hold? i dont know what to do
if it hits $10 im taking half the profit and leaving the rest in
today i bout PAC, its a sub penny coin, i have 700k coins worth. if it hits a penny I sell and make good money.....the trick is to get into a sub penny coin that will "make it"....a few hundred dollar investment in a sub penny coin can easily net you 100k dollars if it hits a penny lol
right now my portfolio (you are right, diversify) is ADA, XRP, LTC, IOTA, XVG, PAC
give me some luck on PAC huh, lol 700k coins worth...it will fork in march and i will go from 700k to 7k coins but the worth will be the same...research the fork on it and get in :)
LTC has a bright future to i believe
Where did you buy PAC? I can't find it on bittrex...
PAC is on cryptopia. No verification required
New Zealand exchange.
I have 740,000 of them. In March it will fork and the value will go up
If it hits 5 cents I’ll sell
Quote from: RouletteGhost on Jan 08, 09:28 AM 2018
PAC is on cryptopia. No verification required
New Zealand exchange.
I have 740,000 of them. In March it will fork and the value will go up
If it hits 5 cents I’ll sell
Can't even register there... it says:
Registration Paused
:(
Pac coin's whitepaper is not solid enough to convince me. Lots of people wonder what it is Pac Coin realy does.
PacCoin doesnt even mention who is in their Dev Team.
I say Nah to this Coin!!
IMO PAC is just another cheap and nasty coin that will probably go nowhere. And if it does, then it will just be hype.
At some point probably during this year, there will be a big crash for all coins. Then people will be more reserved about investing. The companies that actually have value in the coin will do better, and the useless coins will be virtually worthless.
There is still money to be made but be very careful of investing in useless crap coins. For now the whole market is 90% speculation and hype. It's unsustainable.
Quote from: Steve on Jan 08, 06:31 PM 2018
IMO PAC is just another cheap and nasty coin that will probably go nowhere. And if it does, then it will just be hype.
At some point probably during this year, there will be a big crash for all coins. Then people will be more reserved about investing. The companies that actually have value in the coin will do better, and the useless coins will be virtually worthless.
There is still money to be made but be very careful of investing in useless crap coins. For now the whole market is 90% speculation and hype. It's unsustainable.
I agree. Bitcoin is expected to dip below the $7000 mark. To make the big bucks is a short strategy when there's the retest of the $20k top. It's now bouncing between $14,000 and $17000 with the current extreme support at $11000 and resistance at the $20000 all time high done in mid-December.
One thing many people forget is any coin can perform the same function whether it's $25,000 or $0.005. But people are buying coins like their true value is changing, when it never changes.
The only thing giving most coins value is hype and perception of value. The coins that have real value are coins like Ethereum and Power Ledger where there is a real use and value for the coin. About 30% of the coins have a real value like this, but they are being treated like Bitcoin where they are just a number everyone hopes goes up. It doesn't mean all of this 30% are definitely going up in value because there is now so much competition. There will be dominant blockchains eventually. I have loads of cardano and expect it will be one of them. Also if you have any promotional capability, you can partner with companies to be paid in coin. It costs them nothing unless your promotions increase the value of the coin. I did this way back with stocks (stock options, where you can sell but only when price reaches agreed value). Ripple has been doing this extensively and they called it their "war chest" of coins to destroy competition - basically bribe strategic partners who then have an interest to see XRP rise.
Again for sure this is going to crash, and the real utility coins will survive and probably thrive. That's why i'm not a fan of coins like PAC. My impression is the creator just wants to sell their pre-mine coins, then doesnt care what happens as they've made millions. There are many coins like it. I could be wrong about PAC, but at least that's my first impression - it looks unorganized and messy. Whereas Cardano is highly organized and well-backed by institutions.
The entire industry speculation is under the 'pump and dump' model.
It is similar to trading the 'penny stocks'. You have to know whether it a bull or bear bubble at play.
Ride the bull bubble up to the top till the maniac frenzy is overturn by greed(profit-taking) and fear where you sell short to ride it back down.
This is the perfect opportunity for contrarian trading strategy where loads of global dumb money fuel liquidity and volatility on both ends.
No argument from me, most of these coins are garbage pump and dump schemes
I’m proud that I have ripple and cardano because those are actually partnered with big things. Not sure how to feel about litecoin but I got in at 90 so happy regardless about that
Coins like pac coin, have to get in at rock bottom. In 30 days I think it’s up 20,000%
Confident in:
LTC
XRP
ADA
Not confident in but own:
PAC
XVG (up nicely today)
Iota
Key is to get in at the beginning and cash out after the pump
I’m always looking for sub penny cryptos to get in early
I don't know how Gov't regulated these coins are. I know from
experience with trading stocks after $2K profit I got large cap gains tax bills.
Is this a situation where you need a good accountant?
I lost heaps in the last 2 days. Well temporarily anyway, its normal to take a step back after 3 steps forward. Big panic sell on my main coins although it was expected after the huge gains. It just happened later than expected. They will probably recover in 1-3 weeks though. Really should have shorted but you need time to watch the prices like a hawk.
In around 4 weeks a custom trading bot will be finished. It will enable custom auto trading strategies and backtesting. There are two main ways to trade these. Trade for an edge like day-trading, or choose wisely and HODL.
Ripple on strong recovery:
(link:://:.pichost.org/images/2018/01/10/temp_291269.png) (link:://:.pichost.org/image/ntHg)
They are really fun to play with. Even if you just wait for a coin to hit the lowest support level, then jump in, its very easy money. But if you don't read the support level right you can easily make a loss.
I think XRP dipped because of the misleading news about Ripple labs being able to freeze accounts. They cant realistically do that because it would mean controlling all the validation servers, which they don't. That's why they had to ask the exchange to freeze Jed's account. That was the exchange that did that, not Ripple labs.
Besides XRP will soon be fully decentralized. It should happen some time in 2018. And then, you can guess what will happen. I suspect similar to the news about escrow that got XRP moving.
Red flag from FCA on ICO using cryptocurrencies.
link:s://:.theguardian.com/business/2017/sep/12/cryptocurrency-investors-bitcoin-could-lose-money-fca-warns
With mifid 2, we can expect to see a concerted effort in EU to rein in cfds, bo and this ponzi style crypto ico.
Icos need regulation as theres lots of fraud. I believe most coins are purely to profit the creators.
Eventually it will smooth out and the legitimate coins will survive and thrive. For now its crazy speculation and traders taking advantage of the mania.
I really hope Ripple won't recover for at least one more week. I still don't have any of my accounts verified, so I haven't been able to buy any cryptos yet.
BTCC was the quickest to respond, but they didn't accept my photo, so I had to upload a new one today. I'm still waiting for other exchanges to approve my account, but since many people posted on various forums that they had to wait over a month, my hopes are not very high.
You can buy ripple other ways but its more expensive. Usually you buy bitcoin first, then send it to the exchange, then buy other coins. You don't need id for that usually. Usually id is only for withdrawals later
I'd prefer to deposit by bank transfer to avoid the ridiculous 5-10% transaction fees. Most likely the banks will rip me off for the fiat currency exchange, because I don't have a USD or Euro bank account. I sent 1 Euro to coinbase to verify my account, the fee was 8.6 Euro. >:(
Verification on the exchanges is a pain in the ass!
Photos. IDs etc
I got in ripple at 20 cents.
What I did was I bought bitcoin on coin base.
I transferred the bitcoin to bittrex exchange. And used the bitcoin to buy ripple on bittrex.
Bittrex, binance are two exchanges I use
The other exchanges are banned in New York including bitfinex
I was hacked because I was mining. The mining software I used was a scam. Luckily I outsmarted the hacker. That and my bittrex wallet was under maintenance so he couldn’t steal
After being hacked I set up two step auth on all my accounts. Now being hacked is next to impossible. It was a close call
Next big ico : Kodak coin
Yes, that Kodak coin is in the news. Kind of surprising -- I guess, it is Kodak's desperate attempt to get back into relevancy (regardless of how far removed crypto currencies are from its core business). >:D >:D
RG what were you mining?
ATI, I'd be careful about getting into Ripple at this late stage. I think you are much better to get into something that is new, likely to have good long term value, with good "hype-factor", and get in on ground floor. If you do that right, its not unrealistic to turn $1000 into $20,000. Then repeat the process, and turn it to $100,000+
But again you really must have a solid exit strategy. If everything turns to crap, you cant just go to Bitcoin because that will be falling too. USDT is a good option but that's not real currency. It just has the same hypothetical value as the USD.
I was mining doge coin on a free mining website that utilizes your CPU for transactions
My anti virus went haywire and I ignored it so what followed was my own fault.
I had logged into my email as well as bittrex while doing the free mining. Those are what got hacked. So the hacker slipped in through the mining website and had a keylogger on my machine
The only thing I lost was my email. I was able to recover bittrex because I think the hacker was a an automated bot and I was able to be quicker than it
So moral of the story. Buy mining hardware if that’s something you want to do, those free websites leave you vulnerable
I won’t even touch the faucets.
I got incredibly lucky. I did “forgot password on bittrex†they sent me a new code to my email. But my email was hacked. So I did “forgot password thereâ€
I was then able to get in and activate a new Bittrex password and just after that the hacker hacked my email again and changed my security questions.
After changing my Bittrex password I set up two step auth so now any hacker will have a very tough time. It was a crazy few hours but I prevailed.
I was seconds away from losing thousands in ripple.
Quote from: RouletteGhost on Jan 11, 07:40 AM 2018
After changing my Bittrex password I set up two step auth so now any hacker will have a very tough time. It was a crazy few hours but I prevailed.
Given how web sites get hacked so easily these days, two step authentication is the way to do things for anything online that you want to keep secure nowadays. It is pretty much the only safe option that we "little people" have at our end.
Yeah it's really hard to decide what to invest in. There are so many videos and articles about altcoins and how they could rise. Most of those videos are quite convincing. I have to admit that I'm a total noob, so I have to trust in other people's opinions.
My coinbase account has finally been approved, so I'm ready to make my first deposit.
I'm about to buy a property, so all my savings will be gone soon, but I still have the money and I often fantasize about making a big bet. What if I could double my savings or half of it in just a matter of weeks? I've been saving up for 10 years, so obviously it would hurt to lose, but there is a gambler in me giving me these advices :)
ATI, you should tread very carefully. One mistake and you could lose 20% in an hour. Then chasing the loss you can make more panic decisions.
Start very small like $100 or whatever is ok to lose, just to get a feel for how everything works.
Loco, I wouldnt even trust 2fa. I dont even like having funds in offline wallets but besides fiat currency there is no safer option. Just have only what you trade with in exchanges.
Quote from: Steve on Jan 11, 06:33 PM 2018
Loco, I wouldnt even trust 2fa. I dont even like having funds in offline wallets but besides fiat currency there is no safer option. Just have only what you trade with in exchanges.
OK, forget crypto currencies. But for most other things (like email or online bank accounts), 2FA is the best security option that we "little people" have to lower the chances of someone hacking into our accounts (at our end).
A huge market crash is happening today, looks like a good time to buy. What would you guys buy?
I finally have â,¬350 on Coinbase to spend. Thank god I didn't buy XRP when it was $3 :)
It's the annual market crash. It has happened before and will happen again. Anyone who sold in panic at a loss will be regretting it soon. Already market is in recovery.
As time passes there will be more shitty coins that die. During these crashes, everything crashes. But the better coins recover quicker.
When I see a crash, I only get disappointed when I dont sell and re-buy when prices start to rise again. I lost heaps in past few days, but have no doubt it will come back up mostly in next few days.
Every year at this time there is a dip
I took the opportunity to buy 4 more litecoins at $150
When I first saw a major "dip" (aka crash) I panicked and sold 90% of my bitcoin. After all it wasn't like a normal stock crash, because the technology is still new. I lost about 30% of the total amount although still made a profit.
Then in the coming days, the market quickly recovered. And weeks later, there was a new all-time high. And a few months later, the price had increased to over 5 times from when I sold.
Everyone who sold in the panic of the last few days is now regretting it. The bears were driving the price down and feeding off the negativity and fear. You can see their bots constantly place low volume orders with low prices to drive the price down. Then right at the bottom of the dip, it's a war between the bears and the bulls. The bulls do the opposite, and drive the price up. Then both the bulls and bears become bulls and the price rebounds quickly. Meanwhile the typical investor is left wondering what the hell just happened.
This is what bear action looks like. Notice the long thin line:
(link:://:.pichost.org/images/2018/01/17/temp_278689.png) (link:://:.pichost.org/image/ynoH)
This is bull action:
(link:://:.pichost.org/images/2018/01/17/temp_464632.png) (link:://:.pichost.org/image/yz6d)
It's a sign of market manipulation that triggers a wave of panic buying and selling. You can try doing it yourself (although it's unethical and illegal) but realistically you need a bot to place fast orders to make your orders look like lots of people. OR just observe what's happening and ride the wave of buying or selling. Again day trading as I see it is understanding investor psychology. But I dont recommend day trading unless you have a really good bot and algorithm. Doing it manually is far too stressful and time consuming.
In this recent dip, I just sold part of everything then re-purchased when things started to turn (shorting).
Here's another example of bear action. They try to bring the price down multiple times, then eventually give up because there's too much buy pressure. No doubt they'll try again when they see a scary looking price increase, because they know people will be expecting a sudden drop, at which point people panic sell:
(link:://:.pichost.org/images/2018/01/17/temp_644172.png) (link:://:.pichost.org/image/z5DU)
While for stocks I prefer fundamental analysis (a la Benjamin Graham), for crypto currencies, I can understand why technical (chart) analysis might be relevant at least for now.
It is literally a brand new commodity and market and it will take some time before we can understand what the underlying "fundamental" factors are that move prices up and down.
Im not really a fan of technical analysis. It gives an edge but there are much better approaches. Technical analysis still has a place because it relates to investor psychology.
Weeeeeeeeee...
Enjoying the ride, RG?
One mention of regulation, and the market craps itself. Regulation is a good thing. I expected this, but expected it later this year. The coins open to regulation will last, although all appear to be hit. I should have been shorting the coins but havent had time to watch the movements this time. Just had to HODL. One month I made over a million, then lost half of it. It will be back. My selections are good.
Be careful of verge and other coins that cant easily be regulated. There is no way cryptos will be outright banned because they are too important for innovation. And its only a matter of time before fiats all go to blockchains. Digital money is where it is headed, and there will likely always be private blockchains - but they will be regulated.
I dont see the good coins going down much more. I suggest though avoid coins that only function as a payment, like bitcoin. They have no additional utility or purpose. They are no more useful at $20,000 than $1. Whereas coins like Cardano have a proper function. Well not yet, but they will - more so than ETH.
One thing to keep in mind is when the market dives, consider is it an over-reaction, or valid bad news? Definitely it's an over-reaction.
Either way the bears push it down even further which exaggerates the loss. But then the bulls push it the other way when the support level is reached.
This time its a combination of:
* Too many scam coins around
* Serious lack of regulation
* Talk of scary sounding regulation
* It's partially a healthy correction
If you own shitty coins, you need to get out of them asap, but first wait for some upwards movement. But it may even be better to dump them now and move to better coins, because they are all in a slump. Everything will move together back up anyway. Long term the better technology will hold.
Main question I have is how will government cryptocurrencies perform compared to public blockchains like bitcoin? Although simple currency coins like bitcoin dont have as much use as like ETH, I expect they will still mostly do well because of demand. After all, consider FOREX.That's just money and people still trade it. But add the utility functions of blockchains like with ETH and they have better value than mere numbers and perception - they also have a real use.
I forgot to add, most investors are a few cans short of a slab. That's why they're sinking money into useless coins. They have little understanding of what's valuable and useful, and what's not. But these idiots largely control price movements, so they need to be taken into consideration. Like serious coins are down more than some really bad and potentially scam coins. This is temporary. Over time, eventually, the real truth comes out and the better coins will dominate.
Thank god I couldn't deposit money in December, I would have made some bad calls, and would have lost even more money. I've spent probably well over a hundred hours in January learning about cryptos, and it has been very useful.
As someone who doesn't have a lot of money to play with I try to find good opportunities in new and upcoming coins that have the potential of a 50x return in a year. Maybe I will try to learn day trading as well. People on youtube who make $500+ a day make it look so easy.
Currently I have around â,¬1300 invested, and due to the high transaction fees and the recent market crash, I already lost about half of it. But hopefully things will turn around.
I put 5K more onto my Coinbase account, but I can't decide when to buy. Many people expects BTC price to go down to $5-6K, because that's where the price would (or should) normally be without the exponential boom at the end of last year.
Some of the altcoins I'm currently looking to invest in are, Utrust, Ethos, Trinity network, Internet node token, Wanchain, maybe some Electroneum, Cardano, ICON and NEO.
(link:://:.pichost.org/images/2018/02/06/temp_215375.png) (link:://:.pichost.org/image/G0Qbc)
Eyes on bitcoin. There was lots of news that caused the nosedive. It was expected but I thought it would be mid-2018. What am I doing? Just holding. The companies I'm with are good. If you are with companies that function solely as a coin, you need to swap to a real company with technology functions as more than a store of value.
I think the price of BTC can go to around US$4500. But keep in mind the bulls are watching and waiting. In the attached image is when they jumped. If they fail to boost the price, they will try again soon. They already boosted it, but we dont yet know if the trend will continue up.
I dont expect the whole market to recover for perhaps another few months. There are lots of factors at play. If you shorted, I think now is best to buy back in because the bulls have started. If not, just HODL and be patient. There are going to definitely be a series of big ups and downs in at least the coming weeks. Its going to be a bit crazy but if youi panic sell you're far more likely to lose imo.
Disclaimer: I'm not a financial advisor, take you own risks, use your own brain blah blah
Here's the "dot com bubble" around year 2000. Looks like a small blip, right? See what happened later:
(link:://:.pichost.org/images/2018/02/06/temp_599402.png) (link:://:.pichost.org/image/G0Yga)
The blockchain and related technology has a lot of applications. I expect it will be very widespread. there's no doubt about its value. The question is more which technologies and companies will become dominant. In this case, we see a lot of the large companies died off although still recovered very well. But apple's recovery was exceptional.
Again with any new technology, the better technology prevails and inferior companies die off. Choose your company carefully. Fundamental investing, not technical analysis. There's a place for TA but its looking more at the effect of price movement, whereas fundamentals look more at the cause.
Quote from: cht on Jan 10, 05:29 AM 2018
Red flag from FCA on ICO using cryptocurrencies.
link:s://:.theguardian.com/business/2017/sep/12/cryptocurrency-investors-bitcoin-could-lose-money-fca-warns
With mifid 2, we can expect to see a concerted effort in EU to rein in cfds, bo and this ponzi style crypto ico.
Read this thread.
link:s://:.forexfactory.com/showthread.php?t=731832
My earlier post(8 Jan) predicted price is expected go below $7000, now it's at $6453. :thumbsup:
The whole field of ICOs are very scammy. That's not the problem. This price dive was expected. It happens all the time. Human emotion drives the prices and its quite a predictable cycle. And I bet my balls this is what it will look like after the dust settles:
(link:://:.pichost.org/images/2018/02/06/temp_374715.png) (link:://:.pichost.org/image/G03TF)
A lot of the price dives starting with China banning ICOs. They did that because the couldnt regulate it. And there were and still are so many ICO scams. I dont think banning ICOs was the answer though. Anyway people saw the word "banned" and they panicked. And from there, was a lot of stupid little news stories that spiralled out of control. Like the word "regulations", and people panic. Regulations for finance are good, not bad. Otherwise you get all sorts of scams gone wild. But over-regulation leads to things like the federal reserve, and global slavery. There needs to be middleground.
Overall I think the move towards digital everything is a trojan horse. It will be used for nefarious purposes - already is. It's not just digital money, its control. That's another story.
For future reference, here's bitcoin today. Let's see how it goes compared to the dot-com bubble chart:
(link:://:.pichost.org/images/2018/02/06/temp_611105.png) (link:://:.pichost.org/image/G0A3i)
And do you have statistics where correctly shows? And then everyone is different.)
Are you investors enjoying the recent gains? ;)
Two weeks ago my portfolio was at -55%, today it is -19.8% :thumbsup:
Still a significant loss, but I'm happy to see something positive finally. Anything I try for an extra income online, I lose money. I hope this year will be different. I envy those who could turn a few grand into a million last year, I'd be happy to 10X my investment.
My top three investments at the moment are Credits, Wanchain and Wepower. Too bad I was expecting WAN to drop to $2, so I only bought a little at around $4.
The biggest losers are Telcoin (still -67% >:(), Bitdegree and Trinity.
Unlike stocks or currencies, digital coins are very speculative...
You're pretty much betting more and more people are going to use them and govt are going to let this happen.
Stocks, however overvalues they are, do propose some fundamentals to start from. I try to get a ratio market value/ book value 1/1 or near it.
Currencies are now digital currencies, but different than crypto in the sense they are commonly agreed upon.
So you bought bitcoin early 2016? You are as happy as can be and swear only by cryptos.
So you bought bitcoin early 2018? You are as mad as can be and swear to god this is bs...
If I had bought a stock at price/value of 1,x, and is now 50% lower, it is an even better deal! whereas cryptos half the price might suggest the hype is gone.
The hype in cryptos is just another delay until the hype of precious metals rages in again.
Gold and silver: it all comes down to this: the real money.
We will see. I'm very confident that the crypto market will keep growing. If you follow the news, you see that more and more major companies announce that they are planning to use blockchain technology. Also, the US and EU governments do not want to ban crypto, they just want to regulate it. With only a 400 billion dollar market cap, investments can be risky, but no other investment have this kind of return.
I personally hold very few bitcoin, and I'm not even sure what to think about it. Many people think that bitcoin is the king, but I'm leaning towards the group who says that bitcoin is useless. It has no purpose, slow and expensive. I think once people will be able to buy tens or hundreds of different altcoins with fiat currency, bitcoin will no longer move the market and its market dominance will plummet. It will likely happen in Q3 or Q4 this year. But I'm no expert.