Bitcoin / Cryptocurrency Discussion (And Predictions)

[farmer79]

So I thought I'd put my trading hat on and make a few comments. I didn't mean to come in and say Bitcoin is going to 0 because it is a bubble. Also my sense from reading this thread is it younger guys who may be trading seriously for the first time in their lives. I am a bit of a grizzled vet and maybe too old and set in my ways to have embraced this technology anyways. However I was a full time self financed stock and commodity trader for nearly 12 years and for approx 5 years made a living doing it. Not a great living, probably not enough for a wife and kids,but still actually paid the bills. I don't say that to brag I was no George Soros but trust me it is harder than you think. I don't think there are too many trading experiences that I have not experienced. Everything from drug like highs to actually needing to lunge at the garbage so I could throw up. (Lock limit move in live hogs don't ask anymore please)

Full disclaimer I truly believe Bitcoin is going to 0 someday, and if not I believe the advantages, especially in US will be legislated away eventually. But good trading is good trading.

A few points to BitCoin traders,
1. You have caught a 1-3 market of a lifetime. ENJOY IT!! If you are new to trading you have no idea how rare this is. Savor it. Trading is usually extremely hard, low margin, thankless etc, The last market like this was probably Internet bubble 1999-2000. Be addicted to it! Eat, sleep, breathe Bitcoin. Know everything. Sleep with your phone so you can check prices at night. I am not joking I am really not. In the fall of 2008 I made a small fortune (to me anyways) when markets were collapsing, my regret is I didn't enjoy it more. It was my high water mark as a trader and I didn't enjoy it like I should have.

2. Why is it important to savor it? Because it will not last, simple as that. I don't mean it will go to 0. I mean volatility will dry up. Although I here a lot that it "is totally new", or "nothing like it in history.". It is still a tradable instrument, and one that appears free of manipulation. So it will trade like every other instrument. Which means eventually the market will figure out how to price it and the volatility will disappear and it will move into a range. At this point the wild trading swings and just being able to hold for new highs will be gone.

3. If you are absolutely confident in your beliefs and analysis push the envelope and your risk factor. Although I suspect it is very late to suggest this. The point is when markets like this come along they can be life changing, don't miss that. This is my biggest regret in 2008 when markets were starting to collapse. I had quite literally a perfect read on the markets, I understood what was happening and I had strategies that worked perfect in that environment. Without a word of lie I could have made 7 figures in 90 days. But I made less than a tenth of that because I was afraid to push the envelope. Thinking I should still be trading cautiously. What I missed in 2008 wasn't market analysis, it was how special 2008 was. Same thing with internet bubble.

4. Remember the true measure of a successful trader is not %return, not what one year of your income tax return says, not how many great calls you make, not how high your account equity got, the true measure of a trader is, "how much money did you take out of the market?" I can't stress that enough. By out I mean out of your trading account into a bank account where you can buy stuff with it. I don't mean you need to spend it, but it needs to be removed from trading account. Pay living expenses, buy a car, or just save it. But actually remove it from harms way in your trading account.

5. Building on point 4. DO NOT SPEND UNREALIZED GAINS EVER! Especially for taxes. And they are due on Dec 31st not April 15th. Sorry for the caps but it is that important. You have no idea how many traders got badly burned during internet bubble when they had a huge tax bill in 1999 and all the money was gone by March 2000 but they hadn't paid taxes yet. And unrealized includes trades closed but money still in trading account. I dont mean to pick on James as his contributions here are epic and more importantly he has been gifted an INSIDERS subscription which is the highest fast lane honour of all. Also I don't like giving unsolicited advice especially to people I don't know. He may have more trading experience than me in which case I look silly. So I mean it as a painful lesson I learned trading junior exploration stocks in 2005-2006. James made the comment that he went out with family for fresh expensive crab with a tiny portion of trading profits a day ago. You should absolutely do things like this, you need to celebrate successes. It is important and fun. But make sure you actually take the money out, even only a few hundred dollars. Make this a rule you never break. Trust me not only will you enjoy it more but if you do get caught in downdraft it won't hurt nearly as much. Especially as gains get bigger. Next thing you know you'll pick up 10-15K on a Friday trading and decide to fly to SanDiego for a football game, however you'll think"I'll take money out next month or once account is over 250k etc." You get hit with a downdraft and suddenly you have the bill for a trip that may represent regret rather than celebration. Everyone says how easy to convert or send Bitcoin is. If you are going to spend gains take them out of account and really enjoy.

6. The Bad will happen. I know it feels like Bitcoin is revolutionary. It feels like there had never been anything that even compares to it, so old rules, especially valuation rules don't apply. There may be a kernel of truth to this in the early days when it is taking off to the moon. But ultimately it is currency, a freely traded currency without central bank influence obviously, but still a currency. Its value will eventually be set solely by that metric. Because it is a unique product and because it being used primarily as a tool to speculate in it is easy to forget that. We could soar to 12,500 tomorrow on George Soros saying Bitcoin is the future. Remember how internet analysts could move stocks back in 1999-2000? But eventually it is going to move on its utility as a currency.

7. Markets at all time highs trade differently. They are special. They can run up much farther than you think. Up until the drop today yesterday there was not a single person who was down money from any purchase point. This gives unbelievable rocket fuel because all the "sell when I get back to even people" simply do not exist. Once we retrace more for a significant period of time rather than price a market accumulates a lot of these. And this make new highs much tougher.

8. If things work perfectly there is still much that can go wrong. As I have thought about Bitcoin the last few days I thought maybe a good best case comparison is Amazon. The internet was completely disruptive technology. I don't think even the most bullish Bitcoin person could think Bitcoin is more revolutionary and transformative than the internet. We'll call Amazon the cream of the original internet crop. It has risen from virtually nothing to nearly 1200 USD per share. However between March of 2000 and Oct 2001, Amazon dropped from over $75 to 5.5. It lost over 90% of it's value. And it was the perfect internet company. If you don't like stock comparisons go to currencies. Although not as dire as stocks 30-50 percent moves are certainly possible. So build that into your risk profile. A 50-90% move is not only possible it is probable. And it doesn't mean anything is wrong or bad, it is just moving like every other tradable instrument in the universe.

I wish all of you really good trading . If it is just the first of a huge leg up to 25000, I really do hope you all catch it. If your understanding of this unfamiliar technology allows you to understand an intrinsic value of 100,000 I really hope you have the fortitude and patience to ride it out. But please take some money all the way out along the way.

 

[MJ DeMarco]

I am trying to find a better link on this but these are some big numbers.

Lead. Don't follow.

So many takeaways here that I think most people will miss, including Gary's hardcore sycophants.

Gary's leading, not following.
Gary's a seller, not a buyer.
Gary's selling shovels, not digging for gold.
Gary's a producer, not a consumer.
Gary's monetizing his personal brand, not wasting time on someone else's.

That's how you make $250K in one day.

People are sheep and the sheep think that his results are repeatable if they just buy some dumbass shitcoin. No, Gary made $250K in 1 day because he spent 1 decade building a personal brand worth millions.

 

[James Fake]

Hmm, if you spend time daytrading, is there any time for the fastlane business left?

This. How you organize yourself on those two?

Sure thing.. basically, my fastlane path is baked right into the act of day-trading. So day-trading (apart from just looking for signals and analyzing stuff) involves quite a bit social activity; whether that's sharing ideas, reading/consuming content, or real-time chatting with others. By me simply trading throughout the day; I also grow my business at the same time.

Granted, eventually I will need to spend some time on outside stuff on marketing, right now; to gain traction - I can grow users by just being in it.

I don't plan on publicly explaining or starting a thread on this fastlane, simply because probably about 95% here are my target market - and I don't want to feel like every time I talk about crypto here, it feels like an under-cover ad. But I do hope that more others from this forum jump into & start some type of support product or service in this crypto space.. it's ALOT of money & ALOT of people willing to spend ALOT of money. It's still developing, so you may not be able to think of any viable ideas now, but trust, there will be an entire industry of avenues to choose from as it matures!

Out of curiosity, and this is 100% a "dumb trader" question, is day trading crypto to see these kinds of gains simply a result of taking advantage of fast moving volatility?

So I'll start off with what I always tell most people: Hold lol. In order for me to make money; someone has to lose it. The only way someone loses in this bull market is when they sell (usually panic sell) or attempt to sell high, buy at dips, to buy more coins. One can only do that for so long before taking a good amount of losses because no one can time this market.

With that said; you are speaking of swing trading.. I have done that before with some success but it's way too time & energy intensive with minimal profits. What I do is spot which coins are primed for a big run & go sit there before it happens. We are talking about runs of 10-15% minimum (which is an every day thing in crypto).. a few times per month; there are coins that go on 50% days back to back.

I catch 1 or 2 real good runs like Litecoin's most recent, etc. per month and about 2-3 of those smaller 10% runs per week and you can see where my bankroll is tripled pretty quick. I will take losses sometimes, but at this point; I usually go about 4 or 5 wins before I take a loss..

A specific example: This week and upcoming weekend; I suspect Bitcoin to make a big break towards the $20k's on Friday evening. Most would think I'm crazy and there is chatter that Bitcoin is on a bear'ish slope, but through experience I think it won't. Iota is sitting in a HUGE pennant pattern and consolidating waiting to bust out. LTC likes to piggy-back off any big BTC runs. So.. if we put that together, my bets are:

1. Sit in IOTA until it breaks. (hoping it breaks up which is more probably than not). Profit & move to..
2. Bitcoin by Friday til Monday. Profit and move to.. (this is conditional, I may not move on, it just depends)..
3. Litecoin to catch any mimmicking run that happens 12hrs to a day later..
4. Eth (sometimes) will mimmick a similar run.. (this is hit or miss)

 

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[Fox]

So to throw out some actually numbers on this thread...

After the dust settled from yesterday I am down $97,540 USD from when I last added everything up on May 10th.

No worried though - I took out gains over the last while and I bought in at a great price way back too.
It was clearly running super hot also - not overly surprised it crashed.

Some lessons:

- Easy crypto gains are not real and what comes easily can easily go away.
Take out your principle the best you can on the way up and don't go all in.

- No one can predict this accurately - "a broken clock chart is still right twice a day".
I follow a few "experts" and while they are decent at knowing what will go up on a good day they got no idea when things like this will happen. Just too many factors at play - you can can't call what you don't fully know.

-Your main business should always be your absolute #1 focus.
At the end of the day you need a stable way to produce income and a real asset is one that produces cashflow. I am not pro or anti crypto but thats just the reality that I see. I think its fine to do some speculative investing if you got your main bases well covered. Crypto never took up more than a few minutes of my time per day and I was never relying on it for anything. When I put the first dollar in I already accepted it could all go to zero.

Anyway that is it. I am far from an expert but these are my thoughts on the approach I have been using.
I didn't sell anything yesterday and don't plan to for a while either.

Hope everyone came out of yesterday all good and didn't end up in a tricky spot. If you are new to the game of business Crypto should only be taking up a small part of your time and the best investment at the start is always yourself.

 

[MJ DeMarco]

My take is only put in what you can afford to lose and we all want to win

Yup, it's money you take to Vegas. If it isn't, one needs to have their head examined.

I realized that this crypto craze has been distracting me from my primary entrepreneurial pursuits

Crypto should be in the f*ck you/speculative pot and considered an investment unless you're on the entrepreneurial side and messing with the technology and an ICO.

Isn't crypto just an "event" and not a "process"?

People are confusing this as a business. It's a speculative investment and belongs in the F*CK YOU pot where speculative adventures are drawn.

Dumb money is definitely here.

Yup, I walked through that door a few weeks ago. Problem is, most people won't admit their the dumb money. I will. {Here's me raising my hand!}

 

[Yoda]

I'm a big fan of diversity, just not right now.

 

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[Vigilante]

Horse racing is my real game. It's definitely gambling, but gambling with an edge. What happens in horse racing is you get to analyze charts and bet against dumb money. You are literally better off when dumb money flows into the race, because anytime you can gain a statistical Edge against the money flow you can win. Now horse racing is still dependent on variables that are outside of your control, but hopefully you are wagering with money that you can afford to lose. You do your homework, you take a Plunge, and you hope that the external factors break in your favor. However, the most money to be gained is the surge that happens when the uneducated money comes in. It's nothing to be afraid of... It's the reason you are there. Gaining an edge against the odds when dumb money Flows In is how you win at gambling. You don't have to have everything figured out. You just have to be one step ahead of the public at Large. One edge. One reason. One gamble that you can back with cash. And a little bit of luck on your timing.

 

[AceVentures]

Real estate. Precious metals. Stocks. You know how much they've gone up over the past, idk, say 20 years?

If you denominate their price by the ballooning fed balance sheet - you'll notice they've actually not done shit. Since the crash in 2008 and the massive growth in debt - every one of these asset classes you look at has barely held it's own. This intuitively makes sense - wages were tarnished and many people never went back to work. Distrust has been growing and all economic/social/political aspects of our lives have been growing more tense.

Fastforward to 2020+ and the balance sheet has been on a straight vertical line up. No end in sight. Printing trillions. Everyone around the world. The USD doesn't seem to be going down? How come? Well everyone is printing. CPI seems to be fine and inflation is not a real problem... Where does all that money go? Debasement. It hides under higher asset prices. If scarce/valuable assets are a means to attach our savings to - well people's ability to create meaningful savings is becoming exponentially more expensive as our leaders take our future wealth from us.

CPI doesn't change much, your toilet paper might not cost you much more, but good luck buying a house now. Good luck trying to create "wealth" over the long haul. Good luck protecting your wealth. Good luck not getting rugged by the country your money is tied to.

Bitcoin and crypto in general, belong to the only asset class that has outperformed every other asset class, while the others barely held their ground since 2008. Why they're now booming is because they were built for this type of thing. They're the ultimate antidote for the problems we're facing. Don't look at the prices, go read the Bitcoin whitepaper first and then go learn fiscal and monetary policy, learn the history of money and our relationship with it, the history of economy tied to governance. It all ties beautifully.

Guys wake up - the printing is not going to stop. There is no stopping it at this point. The central bankers have spoken - they will do everything in their power to keep this from going down, and their only remaining option at this point is to create more dollars. If you are holding on to this belief that the ballooning debt across the world is somehow going to be financed you're F*cking delusional man. Wake up, the new world, the next technological revolution is happening today and it's infrastructure needs money. The trillions being printed will create this new system, because there is no way in hell the previous system can be bailed out at this point. I know it. The governments know it. Even you know it.

The future belongs to those who create it. It is not being created by the old farts that have vaults of shiny metal. In fact, in this new world, the creators dislike the vaults of shiny gold AND the farts that sit on top of them. Their imagination and their ability to collaborate with one another allows them to create new forms of shared belief. New economies. These economies already exist but people don't F*cking understand because they think it's just "dumb kids addicted to their phones" and refuse to appreciate what's actually happening across these digital ecosystems.

How many more trillions need to be printed before you realize there's no end to this? The train has left the station - if you're waiting for people to start buying gold all of a sudden you're not paying attention to what's happening. You're refusing to see that crypto is the innovation the world needs most today. Every talent, every industry, every person, every conversation, is converging to crypto. If you like "technology" and you appreciate "Uber" and "self-driving cars" and stuff like that - how do you not see that crypto is a new form of technology that is eating up every other technology.

Why you think this is a scam is in my opinion because you're actually not as unscripted as you think you are. You've accepted the narrative as you've heard it but have not begun to think for yourself. This new truth would challenge the previous truth you knew, and challenging it is exhausting and frightening. I understand. But if you have not asked enough questions - in your ignorance you will miss the most obvious and life-changing opportunity of our times.

I'm fully prepared to be wrong and to lose everything I've got. Are you?

 

[James Fake]

Although it looks like I'm inactive; I browse through most of the posts.

Whether right, wrong, etc. I can say with 110% the regulars (a core of 10-12) are some F*ckin' rockstars.

You guys are right. 100% right, actually. Likely won't happen during this bull cycle, but it will happen either with the next or the one after before we end this decade (2029). And/or it happens as a result of a likely global depression at the end of this decade.

Near the end of 2017; many discussions were similar. Many discussions and perspectives on Bitcoin's utility, including Ethereum, blockchain tech, etc. Most of it never came true. It was too early. But you know when it did?

Today. "Just 4 years later"; I think the average Joe investor could give you a rough overview of what blockchain is, the utilities that Bitcoin does factually provide now, and how Ethereum would essentially become the core skeleton mainframe for the blockchain tech, etc.

Now guess what? Every single thing these guys are saying WILL HAPPEN just like what was discussed in 2017.

If you want to be early on the next wave of blockchain and where it's headed and want to be sitting in coins that are (or will be eventually once it hits crypto winter) cheap AF coins so that you can stop reading about crypto millionaires and become one...

Then you need to spend 20 hours and read through this entire thread from the past year and identify the core people I am talking about. Note every single thing they say, they like, and what they are looking at, their theories, their gut feelings, etc.; skip any mentions of their short-term projections and listen to what they like mid-long term. There's many coins, tech, utility, etc. mentioned.. and I GUARANTEE YOU, IF YOU SIT IN SOME OF THESE MENTIONED BY THESE GUYS EITHER NOW (AND ONCE WE HIT WINTER) CAN AVERAGE DOWN AND HOLD FOR YEARS... YOU WILL EXPERIENCE EXTRAORDINARY GAINS.

Of course; saying is easy to say than do. People paper hand, lose faith, need to dig into the money, etc.

Many people forget there is a (not often talked about) execution side of trading/investing than just predicting what will happen in the future.

Not all my predictions were right; but my mid-long term predictions aren't too shabby at all. And I've given the success treasure map with all the answers on the test to many of my peers/friends/etc; and most failed the open book exam due to poor execution (scared, greed, forgetting the big picture, etc.).

Anyways; again, read through the past year, and study this thread. The treasure map is there for the next 4, 5, 8, 10 years. And if you fumble the ball; then you executed the investments poorly.

 

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[nitrousflame]

Honestly, I sold. I'm not a great crypto investor, I'm happy I got mi money back from my loses of 2017 and I also put some money in February and sold in April for a nice fast profit. (I "lost" a lot in the last crash thought, I would have been much better if I sold all higher). But hey, I'm actually making money instead of losing !
Since btc passed the previous ath of 20K, I had always believed it will be at that price again sooner or later, maybe in a few months, maybe in a few years. I sold some days ago cause I still believe that and I'll wait to buy at 10-20K price point.

 

[Coalission]

My 100k "F*ck you pot" grew into a serious pot in a few months...thank you altcoins

 

[Frinys]

How f*cking ridiculous is it that we've started burning absolute heaps of energy to produce fake internet money?

I fail to see how crypto is advancing society rather than throwing us back to the stone age of trade.

Uninformed guy shares opinions based on zero knowledge and 100% feelings. Close your eyes, and you'll fail to see anything at all.

Didn't expect to trigger a lot of you bitcoin fanboys like that, sorry, but none of you explained what value it is actually capable of providing to our society? You all just attempted to either ridicule my statement, or argue that burning excessive amounts of fossil fuels is somehow a good thing..?

Mining bitcoin consumes an absolutely agregious amount of resources. Why don't one of you try telling me what problems (that someone actually has,) that bitcoin is solving, or is going to solve in the near future? Because as of right now, bitcoin exists solely as an investment vehicle for investors.

This post is better. At least you explain why you think crypto is throwing us back to the stone age of trade. If you want an explanation, you should ask questions to increase your knowledge.

Bitcoin is not just online magic money.

I don't know where you are from, but it sounds like you are from a place where you trust the banks, and everyone has access to a bank account. This is not the case in most developing countries. Banks refuse to give people a bank account and sell the information about those that have. For people living in these parts of the world, Bitcoin is a blessing. It's a completely trustless, 0% downtime, peer-to-peer system that is controlled by no one. It's simply a game-changer for developing and least developed countries.

Developed countries are mostly built on trust. For people from these countries, it is hard to understand why a trustless system is necessary. And truth to be told, you can go a long way with fiat alone in these countries. This makes it hard to understand why bitcoin is worth its energy consumption. But just because it's hard to understand why we need a trustless system, doesn't mean that we don't. It's just that we don't experience the problems bitcoin solves that often.

I can share one problem I have. Global bank transfers. I think it is really crap. The bank requires a lot of information about both the sender and the receiver, and the transfer takes several days to complete. I'd always prefer a system where I just have to provide an address to be paid, and where the transaction settles completely in less than an hour.

To round up, let's look at the energy consumption narrative. Many compare bitcoin's energy consumption to for example paypal. However, they forget that bitcoin is a closed, self-sustaining system. Paypal, however, is just a layer on top of a gigantic fiat system. So when people do these comparisons, they compare a single layer (paypal) to a self-serving system. That's like comparing the calorie count of a cake to the frosting of another cake. That doesn't make the frosting cake any less calorie dense, you just forgot to add up the rest of the calories.

Now, you have received a lot of information to start learning about blockchain technology. I suggest that you do some research on your own, and then, after that, answer in this thread. Because right now, we are at two very different levels in understanding of this technology.

 

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[James Fake]

Hey Fastlaners,
As Bitcoin is slowly becoming the real deal. I wanted to give Bitcoin it's own thread containing just long-term & short-term predictions & any big crypto news to help any others who's trading, hodling, etc. a place to throw in your predictions & any actions you plan on taking.

I see the current stage of Bitcoin & crypto as the new Napster & Limewire. Industry bigs (middle-men) will do all they can to fight it & shut it down, but they will soon find out - You can't beat the under-lying ideals & world-changing tech. It will carry on & win out in other forms because the market has experienced the benefits and the market always wins (it will even beat out government regulations).

Bitcoin is in the experienced the benefits stage. As more and more adopt to use Bitcoin as a form of payment (even if the sellers offering to take Btc as payment are valuing on speculative price/trading); the fact remains: They are still using Bitcoin as currency. It is being used as the real deal of exchange between goods & money.

Predictions Nov 8, 2017:
A fork titled B2X was recently cancelled (or "suspended") by their own backers & creators. This is going to give Btc a big bull-run for the next week or so to ~$9,000.

Once it hits this; if the bull-run slows down; a market correction drop of ~20-30% will hit around early or mid December. This will be a short-lived correction though as many are waiting on the sideline (who haven't jumped in the game) for this drop to happen and ready to buy into Bitcoin.

With or without this market correction happening; I strongly believe Btc will at least flirt with $10k before the year is over with.

My actions: I am going to Hodl until I see about a ~15% drop then going to sell half of my coins to later re-buy in once it begins climbing back from the drop. Then Hodl, Hodl, Hodl.

 

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[MJ DeMarco]

I did set up a Coinbase account, and dropped some money into ETH and LTC.

When the two old farts of the forum have bought into it, that means we're all in trouble.

 

[James Fake]

These past weeks.. Outside of Feedbackz; I have been up to my neck in crypto. I move so fast now & I will have to self-profess that I have become a fairly good crypto trader. My plan is to exit out of this with no less than $10M.. hopefully $100M if my cards play out super-right.. all within 2 years.

At my current rate; I'm gaining 100% of my day-trade amount every week or so; this is profit pulled out. So every month I am nearly 3x to 4x my initial investment. Most of my profit is going back into Gen2 coins for long-holds. I'm looking to get 100x out of my long holds by mid 2019.

Outside of just trading & positioning coins; I also have a fastlane I'm almost done completing. If all goes well; this will bring in $2-3M to compliment my coin exit strategy.

Bubble or not; I am taking FULL ADVANTAGE & once I reach my projected number within a projected time frame; I'm out & gone. Once the smoke clears; then I'll come back & find the Apples, Facebooks, and Amazons of today...

 

[Lex DeVille]

Newbie Crypto Advice From A Crypto Newb

1. If you can't research which platforms to buy/sell on or to get a wallet on = you shouldn't be in this game because you're gonna lose.
2. If you don't got money to play with, you don't get to play.
3. If you play with money you don't got, you're gonna lose.
4. This is a game of some risk.
5. If you're not willing to take risks, you won't win big (true for business also).
6. Who cares if it's a bubble. Markets go up and down and eventually back up.
7. If you have to ask which coin you should invest in, you shouldn't invest because you're gonna lose.
8. Just because you can't see the opportunity doesn't mean it isn't there.
9. Just because you believe something (i.e. a bubble) will happen, doesn't mean it will.
10. Just because a bubble pops doesn't mean it's the end of the world.
11. Your beliefs are invalid and irrelevant until validated and relevanted. <--- not sure that's a word.
12. If you wait too long, you'll miss out.
13. Just because the "masses" are jumping on board doesn't mean you can't still win.
14. Playing with house money instead of your own is a good idea.
15. The only thing that matters is the results you get. Try to come away with good results.

 

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[Fox]

Getting pretty close to buying a house in Ireland from 100% ETH gains.

It is a house in an area that flooded way back so it would need to be a cash deal (no mortgage possible).
They did a lot of flood prevention work since and the house was fully fixed so it is fine now.

It will cashflow around 1k euros a month and I only need a few more weeks with the current ETH gains to pay for the whole thing. Just got to account for 33% cap gains for Ireland.

When things are heating up so much it is tempting to see how long it goes but at the same time to buy a whole house with a reasonably small starting crypto investment would be solid. No point getting greedy.

I will keep you all posted if it happens.

 

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[AceVentures]

When you discovered the iPhone - did you think that people were going back to using Blackberries?

When you discovered Uber - did you think people were going to instead hail cabs and get jipped by a**hole Taxi drivers?

When you discovered Social Media - did you think people were going to ditch the internet thing and go back to writing each other letters instead?

When you discovered self-sovereignty - did you think people would instead prefer to submit to a set of rules that work against them? Within a rigged game?

Our laws of governance were created and evolved during times of chaos. People couldn't organize and couldn't agree with one another. Few had access to education and information was withheld to enforce power. Brute force had to be used to establish legitimacy.

None of our previous thousands of years of existence could leverage the network consensus mechanisms that the internet provides the collective. Imo this is bigger than currencies - it's about establishing a framework for governance using game-theory to coordinate behavior.

Idk man... from my own short-lived experience I have discrete examples of disruptive technology changing the game in an overall net positive way.

I'll take my magic internet beans and wait until the equilibrium line shifts - for now I'm happy being the crazy hopeful outlier.

 

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[biophase]

I tried to open a Coinbase account in June and could not get verified. Tried again in July, didn't work. It was never a huge priority. Then in October I finally got verified, deposited money and bought some stuff. Treating it all as education at the time. No sense of urgency. But ended up paying over 2-3x more for everything for just being lazy.

So even if you are on the sideline, I'd say set up that account, because the waiting times could be huge and cost you alot.

As with MJ, this is all a learning experience for me. I am treating it as such. I actually sent $15 to a friend in BTC the other day. It was pretty cool to do it using QR codes. Transaction fee was $15 lol.

I also sold some ETH and transferred it back into my bank account just to see the process and time frame.

I also transferred some BTC from coinbase to bittrex to see how that worked and how long it took.

I feel it is important to understand all these processes so when the time comes you aren't struggling to figure out how to do things.

 

[Coalission]

Awesome. Congrats on your ROI

What are your lessons learned from this success? How much time did you put in on a daily basis to stay ahead of the markets and make your predictions?

Thanks, I think the most important lessons to learn during a market like this are about yourself, not about what coin to buy or when to buy. Like @JScott said, it doesn't take a genius to pick winners in this market, and my 10x in a few months is not really that impressive when you look at what the market as a whole has done during that time.

One important thing I've learned is you have to know what you're buying, and why you're buying it. If you're only buying because it's going up fast, fine, you may make some money that way, but it may also turn on you in the blink of an eye and you'll lose money when you sell, or even pat yourself on the back for an 8% profit, only for you to check on it a few weeks or months later and realized you would've 50x-ed your money if you had just held it. But you didn't. And why would you? You had no clue why you bought in the first place, so you didn't know what the near-term and long-term catalysts were for the coin to move in the long run.

I obsessively research every coin I buy, so I can only own 3 or 4 at most at a time. I want to be on top of every little thing that happens with them, and why it's happening. Others take a more "fund-like" approach, and buy like 50 coins, but I'm just one guy. I've tried that approach before, and what ends up happening is I end up selling most of them and keeping the few that I really like, so it just makes more sense for me to limit the amount of coins I buy to begin with but with more conviction. That way, I can buy during the inevitable dips vs. not knowing what's going on and just panic selling. Every extra investment takes up "mental space" I just don't want, even if I try not to think of them it's just there.

This is awesome.

I remember you posted a while back that you made roughly $300k profit on a $100k alt coin trade.

Is this the same trade ?

Also what alt coin did you invest in ?

Thanks.

No I'm no longer in that one, it was MANA.

 

[Fox]

 

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[AceVentures]

Yes, @AceVentures has talked about it quite alot. Thanks to him I've spent the last month learning in detail about crypto in a general sense, and will now be diving into the technical and programming aspects.
I also wish I would have found Ace's posts earlier. LYXE is now at $26 ! I'm wondering if it will ever go back down because the last few weeks it didn't move much while all the other cryptocurrency's were on a downtrend.

We are sitting at the dawn of a new layer for social coordination. Not talking about LUKSO here, but about what happens when human beings are connected together through a transparent social and financial grid enabled by cryptography and the open internet.

Keep paying attention. Forget the fear that you have missed out - it is a fear from those that have not yet understood what this technology enables. They're thinking in terms of money. For many - what is happening is boiled down to some words describing "investing in crypto" as playing market move with the aim to get rich.

What is happening is far more visionary and significant in the context of our evolving human civilization. It is about connecting human beings together through a grid that empowers every unit. These layers of coordination have never existed before - and they completely obliterate legacy top-down power structures that have kept a lid over what the collective consciousness could accomplish as creativity converges.

You are not late my friend, you are watching the birth of an empowering future for us all. You are exactly where you need to be.

 

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[MJ DeMarco]

On top of that, Wall Street is not at the ground floor of this bubble.

True. In all past bubbles, Wall Street already made their fortunes and the public was left holding the bag.

Maybe this will be the reverse, the public will make the fortune and when/if the bubble bursts, Wall Street will be holding the bag!

 

[Coalission]

Actually, I think BTC is losing dominance. I think this will be the year of the altcoins.

 

[Coalission]

Just closed out the best swing trade of my life, an altcoin I had been holding for a few months popped, avg. ~$125k total cost basis, closed out for $410,931, almost 300k profit. Expecting a pullback in Bitcoin soon so won't keep it BTC for long.

 

[AceVentures]

You can't ban a global computer, you can only ban yourself from using it.

This needs to be repeated because of how often that FUD of a narrative is spread, and how people on this forum still don't seem to get it. Pointing to yahoo finance articles about the next narrative some out-of-touch-with-reality boomer thought up.

Go tell your friends that still don't get it. You can't ban the internet. The US can't ban it either - neither can the SEC. They can only try to change your perception - beyond that they're powerless.

If ever the FED imposes laws against Crypto transactions, it's the USD price and the Central Banks that would collapse, not the other way around! Because crypto would continue to trade freely, it's the US entities that would be barring themselves from engaging with this economy.

Whoever is talking about "banning" crypto needs to learn what it is.

It still blows my mind that most people are still uneducated on the topic, despite everything that's going on in the world and the literal LASER BEAM eyes on crypto.

"Banning" crypto is akin to setting up sanctions against your entire nation from participating in a booming global economy. Even if imposed as law, how long before that nation falls out of favor with it's citizens because it's citizens prefer to engage in another economy than their nation's closed market?

Look at Venezuela's currency. Look at Iran's currency. Look at Argentina's currency. Those guys' ability to engage in free markets was disrupted and their shit is now worthless. Their own people don't even use it, in fact they'd rather Runescape gold than that shit!

Can you ban WiFi communication? What about NFC? Can you ban people from bluetoothing information to each other? Why or why not? If you can answer those questions, you can stop worrying about anybody "Banning" crypto.

You never could ban it. Not even 10 years ago. You could never have banned it, the same way you couldn't ban the Internet Protocol. It's inevitable, because it's a form of communication that's peer to peer. You can't "ban" people from talking to each other. If you can understand that, then you can understand that crypto is a form of talking, and it can't be banned because this form of talking happens whether anybody likes it or not.

 

[Timmy C]

 

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[Fox]

I got some DMs on Crypto.

I don't really have any advice to offer - I only bought a few things and I am not day trading or putting much time into this. I more keep an eye on this thread out of curiosity.

I have some Eth, some SOV (sovryn), and some smaller coins like Cardano.
I am around x4 on what I started with and am planning to pull some time in the summer.

Personally I think if you don't have a solid main business this stuff should be taking up a fraction of your time.
Pick one or two good coins, put an amount if you can afford to lose, and then get back to work.

 

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[letter9]

Anybody here thinks that bitoin is big bubble? And that it's not fast lane?

Are you building business? Are you providing value?

All my slow lane friends keep talking about it. Often it's a sign to stay off.

 

[MJ DeMarco]

Its gone mainstream, the end is near.

While I hold both ETH and BTC, I unfortunately have to agree with you because I look at myself. My knowledge is still at a 3 (out of 10) so I'm definitely in the "dumb money" category. And as I preached in TMF , when dumb money shows up, it's the end of the road.

The other part of me sees the potential in the decentralization aspects, plus added resistance to big banks/corporations/gubbermint. So I'm making my bets at the latter beating the former.