The Cryptocurrency Investing Discussion

[mike24601]

Few key notes to discuss in the Alt realm from last night: LTC made a new run and flirted with the low 70s before settling at 67, up $4 from the previous day. We could be seeing a new foundation for a rise into the 80s or new resistance..who knows? My position is too small to be worth the effort to swing trade so, as always, I remain committed to seeing this through to the bitter end. The money is as good as gone to me, but I think 12 months from now I will be smiling.

LTC founder Charlie Lee announced on his Twitter yesterday that we now have the ability to perform instant cross-chain swaps between cryptocurrencies, which is a major building block in massive crypto scalability, and another confirmation that LTC and BTC will work hand in hand in the future. As public awareness grows and adopts cryptocurrency, I can envision 4 digit altcoin prices and thus believe there is no bad entry point at the present time.

The Lightning Network Now Supports Transactions Across Blockchains

 

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[CPisHere]

I finally jumped in and bought Bitcoin. I own like 3.5% of 1 bitcoin since that was the limit with my debit card, but wired money to my coinbase so I can buy more tomorrow.

As of now, I'm not looking to day-trade - planning to HODL as I see Bitcoin easily going above $200k/coin.

 

[HackVenture]

I continue to be impressed with how stable LTC is holding amidst everything going on. On the way up now, perhaps a rise to 70+ by EOY. I'm hodling for 12 months at least.

One thing I've learnt with cryptos that HODL-ing is not a very valid strategy for anything except BTC.

When BTC, everything really, really gets REKT.

I used to think like an investor as well and chose coins that I knew had "long-term potential".

But crypto is such a baby and manipulated market that it just doesn't make sense to HODL something when you KNOW that it's gonna get REKT when BTC rallies, and that after the rally, the alts WILL pump again. The cycle has run through too many times, and I finally caved in only after the 3rd or 4th time this happened.

If you really want to HODL an alt, you gotta
1. Make sure you got it at a really good price i.e. ATL levels
2. Know that BTC is not gonna make any major rally any time soon i.e. no forking nonsense, no momentum like CME futures, no zimbabwe disaster waiting to happen, etc etc, and we all know this is highly unlikely

Learning new things about crypto everyday, and the more I know, the more I realize I don't know. Hope this is some useful food for thought.

 

[steelandchrome]

ETH and LTC killing it for me right now! Alt coins still all down in the dumps but I love the momentum either way

Sent from my SM-G935V using Tapatalk

 

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[Tom.V]

Will BTC hit $10k today? It's getting close

 

[Castillo]

I finally jumped in and bought Bitcoin. I own like 3.5% of 1 bitcoin since that was the limit with my debit card, but wired money to my coinbase so I can buy more tomorrow.

As of now, I'm not looking to day-trade - planning to HODL as I see Bitcoin easily going above $200k/coin.

good luck when it crashes post 10k.. I'd hold off.

It's going to have a huge correction in the range of 10-13k, and it's going to fall hard.

If you look at how parabolic btc is right now, there's no way that it's going to keep going up.

 

[CPisHere]

good luck when it crashes post 10k.. I'd hold off.

It's going to have a huge correction in the range of 10-13k, and it's going to fall hard.

If you look at how parabolic btc is right now, there's no way that it's going to keep going up.

If history holds, there will be a 30-40% drop sometime in the next 2-3 months. I'm hoping it does happen so I can load up some more.

 

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[parkerscott]

I finally jumped in and bought Bitcoin. I own like 3.5% of 1 bitcoin since that was the limit with my debit card, but wired money to my coinbase so I can buy more tomorrow.

As of now, I'm not looking to day-trade - planning to HODL as I see Bitcoin easily going above $200k/coin.

This is the exact reason I rarely chime in on discussions anymore. The discussions used to be about the technology, and now it has turned into a get rich quick moonshot. What you just said brings bitcoin close to a 4 trillion dollar marketcap. Bitcoin was a gnat this time last year, governments havent had time to catch up, they certainly would at a 4 trillion marketcap.

 

[steelandchrome]

Been a while since I updated. I haven't done many more trades, just holding right now and watching the market. I'm up about $10k from initial investment and would be up another $7k or so if not for some unfortunate ETH to alt coin trades. I am actually pretty happy that the whole ICO craze has tailed off a bit from what i've seen at least. I'm going to hold those coins for a while and see what happens but if nothing changes in a few months will probably switch them back over to ETH.

Sent from my SM-G935V using Tapatalk

 

[CPisHere]

This is the exact reason I rarely chime in on discussions anymore. The discussions used to be about the technology, and now it has turned into a get rich quick moonshot. What you just said brings bitcoin close to a 4 trillion dollar marketcap. Bitcoin was a gnat this time last year, governments havent had time to catch up, they certainly would at a 4 trillion marketcap.

Talk about the technology all you want. If you buy bitcoin, it is to make $$$

 

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[nitroheadz28]

Talk about the technology all you want. If you buy bitcoin, it is to make $$$

Thats cool, but lets leave the outlandish predictions for other forums so we can have something constructive to talk about, theres enough of that on bitcointalk and parts of reddit which is exactly why I proposed a slack group here.

I hope anyone who is considering investing has a basic understanding of the tech, and more importantly how the market operates. Throwing money at Bitcoin or Ethereum just because they've increased at a steady pace doesn't guarantee anything. You've seen whats been going on with all the forks and drama lately, tomorrow isn't a given..

On another note, I stumbled upon this recently (Missed the ICO): WaBi - 蛙币 ICO

Its been featured on BBC which itself is pretty cool for a crypto thats still in it's ICO phase: Fighting the fake baby milk crooks

Pretty damn cool, with a real world application and large partnerships already secured..

 

[parkerscott]

Talk about the technology all you want. If you buy bitcoin, it is to make $$$

Translation

"Beachfront property in Nevada, cool sign me up! Im all about making money, how it works is secondary"

Its funny that nobody sees that this is a textbook bubble that is going to burst any second

I have a pretty good idea of where we are at.

 

[CPisHere]

This IS a "cryptocurrency INVESTING discussion", right? Why would you talk about investing in something without talking about what the price is going to do?

When every moron that reads MSNBC thinks it's a bubble - and none of them saw the housing bubble or tech stock bubble coming, is it *really* a bubble? And even if I grant you that it is, what happens if Bitcoin loses 50% of it's value - did the bubble pop? Even if it loses 90% - the economy isn't affected at all. There's NO LEVERAGE in the system. And leverage is what makes a bubble unsustainable/dangerous.

Compare that to the stock market, which is without a doubt a bubble right now. And when it pops in the next couple years it will destroy average people and ravage the economy. What happens to the price of Bitcoin when that happens?

 

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[CPisHere]

Its funny that nobody sees that this is a textbook bubble that is going to burst any second

I have a pretty good idea of where we are at.

Considering that almost no Institutional money has come in yet, so do I.

 

[parkerscott]

This IS a "cryptocurrency INVESTING discussion", right? Why would you talk about investing in something without talking about what the price is going to do?

When every moron that reads MSNBC thinks it's a bubble - and none of them saw the housing bubble or tech stock bubble coming, is it *really* a bubble? And even if I grant you that it is, what happens if Bitcoin loses 50% of it's value - did the bubble pop? Even if it loses 90% - the economy isn't affected at all. There's NO LEVERAGE in the system. And leverage is what makes a bubble unsustainable/dangerous.

Compare that to the stock market, which is without a doubt a bubble right now. And when it pops in the next couple years it will destroy average people and ravage the economy. What happens to the price of Bitcoin when that happens?

You literally just bought bitcoin, and don't even own a substantial amount and are calling for 200k bitcoin. You are the last person on earth I would be taking investment advice from considering you are just now getting started.

Barely anybody understands this technology or the risks involved. Nobody cares about scaling or governance issues. People are jumping into this investment blind. This is how people get burned. We are in the greed and delusion phase. The top will be blown off in due time. Me, and the other "crytpo whales" have already started to reduce our risk by cashing out large portions of our portfolios. I have been around for a while. Im not some moron calling it a bubble because im salty lol. Im not a moron calling for a bear market either to scare people into a short position. Im merely warning people that the risk is not worth the reward at this point. I have nothing to gain from scaring people.

 

[CPisHere]

You literally just bought bitcoin, and don't even own a substantial amount and are calling for 200k bitcoin. You are the last person on earth I would be taking investment advice from considering you are just now getting started.

When you start has nothing to do with what you know. I haven’t offered you any advice. I said why I am doing what I am doing.

Barely anybody understands this technology or the risks involved. Nobody cares about scaling or governance issues. People are jumping into this investment blind. This is how people get burned.

We are in the greed and delusion phase. The top will be blown off in due time. Me, and the other "crytpo whales" have already started to reduce our risk by cashing out large portions of our portfolios.

You are too close to it to understand the bigger value proposition and what that will do to the price.

I have been around for a while. Im not some moron calling it a bubble because im salty lol. Im not a moron calling for a bear market either to scare people into a short position. Im merely warning people that the risk is not worth the reward at this point. I have nothing to gain from scaring people.

Im not calling you a moron. I’m saying that morons think it is a bubble, so you just share an opinion with morons.

 

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[parkerscott]

When you start has nothing to do with what you know. I haven’t offered you any advice. I said why I am doing what I am doing.

You are too close to it to understand the bigger value proposition and what that will do to the price.

Im not calling you a moron. I’m saying that morons think it is a bubble, so you just share an opinion with morons.

I have seen an influx of crypto noobs calling for the end of fiat. That is not a value proposition, that is delusion. Believe me, I am well aware of blockchain use cases and limitations. Im sure the tens of millions of people who just created coinbase accounts and maxed out their weekly limits have had tons of time to do their due diligence also.

"You want to be greedy when others are fearful. You want to be fearful when others are greedy." - Warren Buffet

 

[steelandchrome]

Either way I'm up double my initial investment and happy with the current trend. I've debated selling off some to play with just the house money but haven't made any firm decisions yet. While I love the price movement it is a bit scary how fast it is going up and could see a big drop if it falls almost at all from new "weak handed" sellers getting scared at the smallest drop (has happened after each big run up for last few months at some point).


Sent from my SM-G935V using Tapatalk

 

[Anon1351z]

Would love to see what any of you think about Adbank, they have a pre-sale starting Monday before the ICO. I'm thinking about investing. My technical knowledge is limited, but I like the idea and can see the practical application.

Full disclosure, I know one of the founders.

 

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[parkerscott]

Look, I'm not going to pretend I have any idea where the price to BTC is going (I've said all along, I don't), but based on your simplistic theory, I'm guessing you believe that Apple and Amazon are just in "textbook bubbles" as well?

Those businesses actually produce revenue. Businesses provide tangible products or services. Bitcoin provides neither, and its changed its function over the last few years from a simple way to do online payments, to a digital store of value, and now most recently to the currency killer.

You cannot hold a candle to apple and amazon. They are not an ideology like bitcoin.

 

[ZCP]

Look, I'm not going to pretend I have any idea where the price to BTC is going (I've said all along, I don't), but based on your simplistic theory, I'm guessing you believe that Apple and Amazon are just in "textbook bubbles" as well?

Not really a comparison, is it? Those are standard exponential business curves. Is bitcoin putting out the next iPhone? Buying a grocery store chain? Is there an underlying business that has product and profit?

Bitcoin seems to me like deciding to pay with 2x4's. They are useful for other things, and now they are accepted as currency in some locations. Then everyone decides they have to have 2x4's because everyone else is buying them up. Meanwhile, the 2x4 miners (loggers) keep cutting more 2x4's.

 

[Dan_Fastlane]

FYI:
WeChat will cooperate with NEM and they want to launch a NEM wallet for WeChat at 21st December.

If you dont know what WeChat is they have 1 Billion users! and they got the title of the biggest App in the world.

 

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[ZCP]

You know, we could say the same thing about gold, couldn't we? It's accepted as currency in some locations. People buy it because other people value it. Meanwhile, miners (actual, real life miners) keep mining it.
I guess you think gold is just a sham as well?

Think you are confusing me with the other guy. I like to buy and sell 2x4's.

You showed stock growth charts to counter dude saying crypto is a bubble. Oranges and air conditioners?

 

[21elnegocio]

What is your prediction on litecoin by the end of 2018 ?

Do you guys think that litecoin is worth 5% of what BTC is worth ?

 

[Ricardo's]

I’m currently holding 17 ETH. Going to move 50% around to 2-3 other coins. Looking at IOTA and LIF.. You guys are making me consider NEM.

 

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[Ricardo's]

This is the exact reason I rarely chime in on discussions anymore. The discussions used to be about the technology, and now it has turned into a get rich quick moonshot. What you just said brings bitcoin close to a 4 trillion dollar marketcap. Bitcoin was a gnat this time last year, governments havent had time to catch up, they certainly would at a 4 trillion marketcap.

@parkerscott lets discuss how to leverage blockchain tech to create software solutions..

 

[JAJT]

Am I the only one who feels like cryptocurrency trading really suffers an ease of use problem?

I made some tidy profit since starting this little test and went looking to diversify a bit to other coins and it's been a total pain in the a$$. Being Canadian OBVIOUSLY doesn't help (but frankly I'm not bloody surprised - it's this way with every damn thing as a Canadian).

I opened a coinbase account originally and bought some ETH, but I can't sell my holdings as a Canadian.

That sucks.

Also the limits were pathetic - $250 a week or some BS even when fully verified?

That sucks.

So I opened up a coinsquare account, which is Canadian friendly, but they don't have receiving addresses for ETH, so I can't easily transfer from coinbase to coinsquare.

That sucks.

Figured I'd re-invest some of the profit I've made so far into Iota but neither coinbase nor coinsquare support altcoins.

That sucks!

So I had to open up an account over at Binance, go through the damn verification again, but what's this? They don't support cash. You have to buy the alt coins in bitcoin/eth/litecoin/etc...

That sucks!

So I transferred some ETH from coinbase to binance, then purchased some iota with the ETH. Looks like there's some remainder though on my ETH because not all of it transferred over? Maybe the conversion from one to the other wasn't 100% compatible? I don't know but now I'm sitting with an infinitesimal amount of eth instead of a nice "0" I was hoping for.

That sucks!

So now I have 3 different accounts on 3 different exchanges all with pretty different user interfaces. No central dashboard to tell what the hell the value of my portfolio looks like at a glance. And I haven't even started looking at software/hardware wallet stuff yet.

This really sucks!

I'm clearly not a seasoned vet, but if we're being honest here 90% of the folks trading in this stuff likely aren't either. It's the wild west right now and I honestly feel that the amount of hoops one needs to jump through to get access to the "whole experience" is nonsense right now.

I'm still fascinated by everything here and am enjoying getting into this world and being part of this experience as it happens but the current taste in my mouth after going through all this is pretty sour right now. Frankly the fact that I've made money despite all this is really helping my mood but I really feel like this world needs a central "all in one" solution that makes this shit easier.

(Or maybe I just have no idea what I'm doing but google doesn't seem to offer any better solutions either...)

 

[nitrousflame]

Am I the only one who feels like cryptocurrency trading really suffers an ease of use problem?

I made some tidy profit since starting this little test and went looking to diversify a bit to other coins and it's been a total pain in the a$$.

I 100% agree and think there's some real opportunity here to solve some problems. In the meantime though, you might be interested in checking out ShapeShift | Cryptocurrency Exchange | Simple Coin Conversion They don't yet have the biggest selection of altcoins, but I think they're on the right path as far as simplicity goes.

 

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[B. Cole]

Am I the only one who feels like cryptocurrency trading really suffers an ease of use problem?

I made some tidy profit since starting this little test and went looking to diversify a bit to other coins and it's been a total pain in the a$$. Being Canadian OBVIOUSLY doesn't help (but frankly I'm not bloody surprised - it's this way with every damn thing as a Canadian).

I opened a coinbase account originally and bought some ETH, but I can't sell my holdings as a Canadian.

That sucks.

Also the limits were pathetic - $250 a week or some BS even when fully verified?

That sucks.

So I opened up a coinsquare account, which is Canadian friendly, but they don't have receiving addresses for ETH, so I can't easily transfer from coinbase to coinsquare.

That sucks.

Figured I'd re-invest some of the profit I've made so far into Iota but neither coinbase nor coinsquare support altcoins.

That sucks!

So I had to open up an account over at Binance, go through the damn verification again, but what's this? They don't support cash. You have to buy the alt coins in bitcoin/eth/litecoin/etc...

That sucks!

So I transferred some ETH from coinbase to binance, then purchased some iota with the ETH. Looks like there's some remainder though on my ETH because not all of it transferred over? Maybe the conversion from one to the other wasn't 100% compatible? I don't know but now I'm sitting with an infinitesimal amount of eth instead of a nice "0" I was hoping for.

That sucks!

So now I have 3 different accounts on 3 different exchanges all with pretty different user interfaces. No central dashboard to tell what the hell the value of my portfolio looks like at a glance. And I haven't even started looking at software/hardware wallet stuff yet.

This really sucks!

I'm clearly not a seasoned vet, but if we're being honest here 90% of the folks trading in this stuff likely aren't either. It's the wild west right now and I honestly feel that the amount of hoops one needs to jump through to get access to the "whole experience" is nonsense right now.

I'm still fascinated by everything here and am enjoying getting into this world and being part of this experience as it happens but the current taste in my mouth after going through all this is pretty sour right now. Frankly the fact that I've made money despite all this is really helping my mood but I really feel like this world needs a central "all in one" solution that makes this shit easier.

(Or maybe I just have no idea what I'm doing but google doesn't seem to offer any better solutions either...)

I agree, complete bullshit. The only exchange keeping up with the influx of new users is Coinbase/GDAX, and their restrictions suck for new users. Everyone else is days/weeks behind on verification, with absolutely no customer service. I wonder if that's a contributing factor to BTC/ETH/LTC being so high, it's the only exchange that most people are willing to use.

It's actually a barrier of entry to the masses when you start having to upload pictures of yourself holding your driver's license with a hand written note. 90% of the population doesn't feel comfortable doing that. If Coinable/GDAX started doing alt pairs, i bet they'd explode.

I literally have CB/GDAX, Gemeni, Kraken and Binance accounts, all sitting there pending verification or new user restrictions. Meanwhile prices double.

It's a goldmine for he who has the ability to open a shovel store that connects all this bullshit, a crypto Walmart. I'm sure we'll see one, but I can't imagine the difficulty of creating it.

 

[Ricardo's]

I agree, complete bullshit. The only exchange keeping up with the influx of new users is Coinbase/GDAX, and their restrictions suck for new users. Everyone else is days/weeks behind on verification, with absolutely no customer service. I wonder if that's a contributing factor to BTC/ETH/LTC being so high, it's the only exchange that most people are willing to use.

It's actually a barrier of entry to the masses when you start having to upload pictures of yourself holding your driver's license with a hand written note. 90% of the population doesn't feel comfortable doing that. If Coinable/GDAX started doing alt pairs, i bet they'd explode.

I literally have CB/GDAX, Gemeni, Kraken and Binance accounts, all sitting there pending verification or new user restrictions. Meanwhile prices double.

It's a goldmine for he who has the ability to open a shovel store that connects all this bullshit, a crypto Walmart. I'm sure we'll see one, but I can't imagine the difficulty of creating it.

I haven’t been verified on any major exchange, Coinbase gave me a $10,000 USD deposit limit so I dropped $8k into it... But it takes a week for you to see the purchase verified in your wallet....

Cant even imagine what a pain in the a$$ it’ll be to withdraw