The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

Bitcoin accumulation phase - the best time to buy some alts?

Accelerate wealth. Build a business that pays freedom. Join more than 70,000 entrepreneurs and register for the Fastlane Entrepreneur forum. Remove ads? Join the INSIDERS.

whirl

New Contributor
Jan 20, 2018
13
8
14
28
Poland
Hi there,
As I've written and you probably know, the crypto market is already in the accumulation phase. Retail investors are scared, bored and angry due to losses. According to history, moments like that were the best times to buy cheap but fundamentally strong crypto projects. Is anybody here familiar with fundamental analysis? We can share some knowledge here about certain projects, as well as data and tools you use to research each project.
 

GPM

Platinum Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Oct 25, 2012
1,110
4,471
1,015
Canada
There are a lot crypto guys on here. Check out this particular crypto thread for more details. There are a couple on the forum, not sure if they have been merged or not, but this is the most active one.

 

alexkuzmov

Silver Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Sep 20, 2019
735
922
335
Bulgaria
Hi there,
As I've written and you probably know, the crypto market is already in the accumulation phase. Retail investors are scared, bored and angry due to losses. According to history, moments like that were the best times to buy cheap but fundamentally strong crypto projects. Is anybody here familiar with fundamental analysis? We can share some knowledge here about certain projects, as well as data and tools you use to research each project.
Why do you want to buy alt coins?
 

DougRMR

Contributor
Apr 19, 2019
39
25
44
Why do you want to buy alt coins?
You can make good money on alt coins BUT you have to either have some inside info or a good hunch to really gain some profit. A lot of times you can look at the token's mission or latest news and get a decent read on where it'll go but it's still a gamble short term.

I do short term for fun but have a few long term coins I have good faith will rise eventually
 

PizzaOnTheRoof

Moving Forward
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jul 30, 2018
1,201
2,587
671
Texas
There's Bitcoin, and there's shitcoins. Nothing else.

Every other cryptocurrency is centralized, and offers nothing unique that can't be added to Bitcoin in the future.
 

thechosen1

Platinum Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Aug 25, 2020
1,489
2,779
648
Galt’s Gulch
There's Bitcoin, and there's shitcoins. Nothing else.

Every other cryptocurrency is centralized, and offers nothing unique that can't be added to Bitcoin in the future.
I’m a total crypto noob, but who would do the adding and updating to Bitcoin?
 

PizzaOnTheRoof

Moving Forward
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jul 30, 2018
1,201
2,587
671
Texas
I’m a total crypto noob, but who would do the adding and updating to Bitcoin?
It's actually really cool and ingenious.

In short, Bitcoin is decentralized and runs on nodes (computers) all over the world. Each of these nodes run on the main bitcoin codebase called Bitcoin Core. It's open source and available for free for everyone.

Each node has the full ability to modify the source code, BUT a majority (51%) of the nodes MUST also be running the same exact code.

This creates a "voting" system in which a node operator can vote for the new change simply by updating the code that their node runs.

If someone decided that there should be 42 million Bitcoins instead of 21 million, they could change the core code and let the decentralized community of node operators "vote" on it. However, node operators are going to do what is in the best interest of themselves and bitcoin so that's very unlikely to happen.

These are just the base layer changes. Other teams are able to build "on top" of the bitcoin code base called Layer 2, Layer 3, etc. Each one building on each other.

Right now the biggest Layer 2 advancement is the Lightning Network, which makes transacting in BTC instantaneous and damn near free.

This is still all VERY new and anyone that tells you that bitcoin is failing or is a shitty currency is full of it because it's not even at that stage yet. The foundation is being laid first.

We're just getting started :cool:
 
Last edited:

thechosen1

Platinum Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Aug 25, 2020
1,489
2,779
648
Galt’s Gulch
It's actually really cool and ingenious.

In short, Bitcoin is decentralized and runs on nodes (computers) all over the world. Each of these nodes run on the main bitcoin codebase called Bitcoin Core. It's open source and available for free for everyone.

Each node has the full ability to modify the source code, BUT a majority (51%) of the nodes MUST also be running the same exact code.

This creates a "voting" system in which a node operator can vote for the new change simply by updating the code that their node runs.

If someone decided that there should be 42 million Bitcoins instead of 21 million, they could change the core code and let the decentralized community of node operators "vote" on it. However, node operators are going to do what is in the best interest of themselves and bitcoin so that's very unlikely to happen.

These are just the base layer changes. Other teams are able to build "on top" of the bitcoin code base called Layer 2, Layer 3, etc. Each one building on each other.

Right now the biggest Layer 2 advancement is the Lightning Network, which makes transacting in BTC instantaneous and damn near free.

This is still all VERY new and anyone that tells you that bitcoin is failing or is a shitty currency is full of it because it's not even at that stage yet. The foundation is being laid first.

We're just getting started :cool:
That’s amazing!! Like an open source mod for an mmo or something
 

alexkuzmov

Silver Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Sep 20, 2019
735
922
335
Bulgaria
It's actually really cool and ingenious.

In short, Bitcoin is decentralized and runs on nodes (computers) all over the world. Each of these nodes run on the main bitcoin codebase called Bitcoin Core. It's open source and available for free for everyone.

Each node has the full ability to modify the source code, BUT a majority (51%) of the nodes MUST also be running the same exact code.

This creates a "voting" system in which a node operator can vote for the new change simply by updating the code that their node runs.

If someone decided that there should be 42 million Bitcoins instead of 21 million, they could change the core code and let the decentralized community of node operators "vote" on it. However, node operators are going to do what is in the best interest of themselves and bitcoin so that's very unlikely to happen.

These are just the base layer changes. Other teams are able to build "on top" of the bitcoin code base called Layer 2, Layer 3, etc. Each one building on each other.

Right now the biggest Layer 2 advancement is the Lightning Network, which makes transacting in BTC instantaneous and damn near free.

This is still all VERY new and anyone that tells you that bitcoin is failing or is a shitty currency is full of it because it's not even at that stage yet. The foundation is being laid first.

We're just getting started :cool:
Bitcoin is first to the game
The utility of Cardano and Nano is far greater IMO.
 

LPPC

Bronze Contributor
Mar 6, 2016
358
303
137
29
How do you know it's accumulation phase? I would be very careful with crypto, unless you invest for the long term. Do know that all the influencers hold crypto themselves and might be biased.

BTC and ETH are the safest. Maybe best not to be greedy and think long term. Invest only 33% or so of the money you want to invest in crypto in total. That way you will still have enough fiat to invest after you've made mistakes and you wont be out of the game.

What has happened to me in 2017 is that i invested in coins like Neo, Iota, Monero etc and those have gone down a lot in the marketcap. Now the hype is that solana is the ethereum killer, back then it was EOS. Look what happened to EOS.

Invest most of your portfolio in the safer coins, knowing that when the bear market hits, the alts crash the worst.
 

PizzaOnTheRoof

Moving Forward
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jul 30, 2018
1,201
2,587
671
Texas
How do you know it's accumulation phase? I would be very careful with crypto, unless you invest for the long term. Do know that all the influencers hold crypto themselves and might be biased.

BTC and ETH are the safest. Maybe best not to be greedy and think long term. Invest only 33% or so of the money you want to invest in crypto in total. That way you will still have enough fiat to invest after you've made mistakes and you wont be out of the game.

What has happened to me in 2017 is that i invested in coins like Neo, Iota, Monero etc and those have gone down a lot in the marketcap. Now the hype is that solana is the ethereum killer, back then it was EOS. Look what happened to EOS.

Invest most of your portfolio in the safer coins, knowing that when the bear market hits, the alts crash the worst.
Simple. Don’t invest in shitcoins.
 

Ing

Silver Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jun 8, 2019
944
936
291
56
Bavaria
why do you want to invest in a coin?
If you want to make money, the question isn’t BTC or shitcoin. But what shitcoin.
Why?
Imagine, you bought in 12/2019 or 01/2020. The biginning of the BTC halfing year.
Imagone, you bought any 5 „shitcoins“ for 1000€ each.
You sold on end of Mai short after all crashes.(as I hadnˋt sold much earlier)
Lets have a look, examples are arbitrarily: token, faktor - sum of money in the end:
1.ZEN, 14000,-
2.SNX, 6800,-
3.STX, 10000,-
4.BNT, 20000,-
5.WIN, 5500,-

So, from 5000,- I have made 56300€.
In the same time from BTC : 26388,-

Maybe BTC is the creme de la creme of the coins, but with any 10 different tokens, yoo will make more money than with BTC in a cycle.

If you additionally make any due diligence before buying, you can multiply that.

Just my 2c to the theme „shitcoins“ or alts vs. real coins.

And you can have a look on coinmarketcap at the 5000 and more tokens. Not many differ!
 

vivian

New Contributor
Sep 8, 2021
15
6
12
You can make good money on alt coins BUT you have to either have some inside info or a good hunch to really gain some profit. A lot of times you can look at the token's mission or latest news and get a decent read on where it'll go but it's still a gamble short term.

I do short term for fun but have a few long term coins I have good faith will rise eventually
Yes. I agree with you! Bitcoin is suitable for long-term holding, and the longer it takes, the higher the profit growth rate it will bring to you!
 

Sponsored Offers

MARKETPLACE Fox Web School "Legend" Group Coaching Program 2021
Hi - I sent out some emails with the updates but I'll PM you now also, thanks. The issue is...
  • Sticky
MARKETPLACE NEW: The Best School for Going Fastlane (Now open for summer enrollment)
Read the free book, some excellent insights. I also did the website quiz and I did a visual on a...
MARKETPLACE Not sure how to start? This free book will teach you how to build a successful web design business
Hi Fox. Starting the book and got through the introduction. Had a conversation with Andy Black...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Chris is super sharp and is aware of many facets of entrepreneurship and can help get your...
Introducing MJ's Personal Unscripted Network, Join Now for FREE!
Any chance to make it available outside of US? It has been available outside of the US on...

Forum Sponsor

Learn Fastlane Business Skills & Get Profitable Within 30 Days...

Get Started Now

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom