The Cryptocurrency Investing Discussion

[MarekvBeek]

For those keeping score, I just bought into another pre-sale: Request Network. Basically, a PayPal for crypto. Great team and looking to be a great product. This will likely be one of the few where I don't sell any short-term.

I'll always discuss the bad with the good -- I had never lost money on an ICO until the past two weeks, but have now lost money on two: AVT and SCL.

I knew SCL was a horrible buy, but they were offering a 50% bonus in the first hour, and I figured it couldn't drop more than 50% on opening day...I was wrong...

AVT was somewhat of a surprise -- I expected it to do better. I'm still holding, waiting for it to hit some bigger exchanges. But, not overly optimistic about this one as a long-term hold.

MTH has been a disappointment as well, though I sold enough of it to almost cover my buy-in, so the rest of it is almost "free money"...

The "bad ones" might be caused by the recent sell-off and ICO ban, don't you think? Or would you say they were just bad in general?

 

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[steelandchrome]

So anyone planning to buy some knc tonight? I see etherdelta has the listing up and people are bidding huge amounts over ico price. Was expecting maybe double ICO price but looks like quite a bit more...

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[steelandchrome]

I have a buy order in at 3x ICO price... I don't expect to get any though...

I think I'll wait to see sell orders tomorrow morning and let people figure it out overnight. There are hundreds of ETH bid at 10-20x ico price already!

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[steelandchrome]

Had an order sitting on the books on ED today and ended up buying 250 KNC for 1.4 ETH. I'm looking to add another couple hundred if it takes a further dip as it has long term potential to grow and at about $1.75 buy in I feel thats fair enough to sit on and not care for a while.
Loving the little run the market is having now except for the fact that I used shapeshift to change 3/4 of my PAY tokens to OMG figuring it would recover a bit faster and I could buy back the PAY tokens in the mid $2 range but its shot straight past $3 unfortunately before I made the switch back...

 

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[steelandchrome]

Added 1000 LINK today when it dropped to .29 on Etherdelta. Small bet for something that has big potential.

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[AgainstAllOdds]

I'm new to this whole thing.

Where do you guys find out about these ICO's? And where do you trade?

 

[steelandchrome]

I'm new to this whole thing.

Where do you guys find out about these ICO's? And where do you trade?

I personally buy ETH, LTC, and BTC at gdax (owned by coinbase but you can trade with zero fee orders if you create limit orders) and then I pick up alt coins at shapeshift.io or EtherDelta.com and store them on myetherwallet.com and also just ordered a ledger nano s for longer term holdings. I track the gains/losses on blockfolio app.

As far as ICO buys I am in USA and basically am excluded from participating in them. I have heard you can use a VPN and send in a fake ID photo to gain access and participate but that scares me that it woukd be found out and they would keep my ETH so sitting in the sidelines for ICO at least for now...

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[AgainstAllOdds]

I personally buy ETH, LTC, and BTC at gdax (owned by coinbase but you can trade with zero fee orders if you create limit orders) and then I pick up alt coins at shapeshift.io or EtherDelta.com and store them on myetherwallet.com and also just ordered a ledger nano s for longer term holdings. I track the gains/losses on blockfolio app.

As far as ICO buys I am in USA and basically am excluded from participating in them. I have heard you can use a VPN and send in a fake ID photo to gain access and participate but that scares me that it woukd be found out and they would keep my ETH so sitting in the sidelines for ICO at least for now...

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Thanks.

And the ICO's... after they get sold at a discounted rate to foreigners, do they eventually hit American markets?

 

[steelandchrome]

Thanks.

And the ICO's... after they get sold at a discounted rate to foreigners, do they eventually hit American markets?

Yes on EtherDelta.com first before real exchanges. I've bought almost all my alt coins there as soon as they hit. Doing ok on some and some dropped off big

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[Nigel B]

@JScott and @steelandchrome - thanks for continued input on crypto - much appreciated.

 

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[steelandchrome]

@JScott see they opened up registration finally for hero? Still not available to US so might have to find a way around that... also what are your thoughts on the whole alt market dropping right now, keep seeing rumors of alts dumping to buy BTC prior to bitcoin gold and that appears to be ringing true. You going to take any actions based on the fork re your holdings?

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[MarekvBeek]

@JScott see they opened up registration finally for hero? Still not available to US so might have to find a way around that... also what are your thoughts on the whole alt market dropping right now, keep seeing rumors of alts dumping to buy BTC prior to bitcoin gold and that appears to be ringing true. You going to take any actions based on the fork re your holdings?

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Yes, I’ve registered. But still not available to the US. What sh*t regulation do you people have there? I can’t find any new date for pre-sale yet.

I felt in the trap of giving my private ETH key on a phising site. Luckily no ETH was on there. But please be aware of those fake myetherwallets, phising sites etc.

What you say about the alt dropping is what I was talking to my friend as well. It seems so weird. First they rise, and now they drop. But I think it’s because price of BTC rose above $4.500. And like what you say, people invest in hope for the upcoming fork. Where do you find this kind of information?

I don’t know what will happen. But I do know I’ll keep trading BTC and the other Cryptos. I’m basicslly waiting for the next (bigger) BTC Crash.

 

[BrooklynHustle]

Yes, I’ve registered. But still not available to the US. What sh*t regulation do you people have there? I can’t find any new date for pre-sale yet.

I felt in the trap of giving my private ETH key on a phising site. Luckily no ETH was on there. But please be aware of those fake myetherwallets, phising sites etc.

What you say about the alt dropping is what I was talking to my friend as well. It seems so weird. First they rise, and now they drop. But I think it’s because price of BTC rose above $4.500. And like what you say, people invest in hope for the upcoming fork. Where do you find this kind of information?

I don’t know what will happen. But I do know I’ll keep trading BTC and the other Cryptos. I’m basicslly waiting for the next (bigger) BTC Crash.

Admittedly I'm not too deep into crypto and don't own anything at the moment for that reason (I do understand the basics)

That said, you guys may enjoy this podcast by a friend of mine. I have no financial interest or otherwise in it, but he seems to do a good job sorting through many of the issues and has gained a significant following as a result

www.coinmastery.com/itunes
www.coinmastery.com/android

 

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[steelandchrome]

Yes, I’ve registered. But still not available to the US. What sh*t regulation do you people have there? I can’t find any new date for pre-sale yet.

I felt in the trap of giving my private ETH key on a phising site. Luckily no ETH was on there. But please be aware of those fake myetherwallets, phising sites etc.

What you say about the alt dropping is what I was talking to my friend as well. It seems so weird. First they rise, and now they drop. But I think it’s because price of BTC rose above $4.500. And like what you say, people invest in hope for the upcoming fork. Where do you find this kind of information?

I don’t know what will happen. But I do know I’ll keep trading BTC and the other Cryptos. I’m basicslly waiting for the next (bigger) BTC Crash.

Just following a bunch of groups on reddit and facebook is where I see the trend of conversation re selling off alts for BTC. I would have expected more of this to happen a few days prior to the fork not this early but I think with the rise in BTC people are fearing the price will get out of reach and are buying now. I doubled my BTC holdings this morning and may add more just prior to the fork but will probably sell off all the BTG as soon as it is available and reinvest in more ETH.

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[bigbaby]

Admittedly I'm not too deep into crypto and don't own anything at the moment for that reason (I do understand the basics)

That said, you guys may enjoy this podcast by a friend of mine. I have no financial interest or otherwise in it, but he seems to do a good job sorting through many of the issues and has gained a significant following as a result

www.coinmastery.com/itunes
www.coinmastery.com/android

I really enjoy Carter's videos on youtube. Don't watch every single one. But the ones I have watched are very insightful.

 

[steelandchrome]

I'm in "sit back and wait" mode right now. I've sold off enough of most of my alt-coins to cover my initial costs, so for the rest of the coins, I'm "playing with the house's money"...so the alt-coin sell-off doesn't make a difference short-term. And I'm holding a lot of ETH right now. I don't own any BTC -- never have and likely never will.

I'm not planning on buying into HERO at this point (my group didn't do a pre-sale syndicate, so it wouldn't be easy for me to purchase). But, I've purchased a lot of Enigma, Request, Icon and AirToken over the past few weeks, and I'm waiting for those to be tradeable. All of those but Icon will be available in the next few days/week, and I'm expecting at least one or two of them to open big.

Makes sense. I am on vacation away from my computer so not taking advantage of any of these alt price dips and only have gdax and coinbase loaded on my phone. May have to create a new etherdelta account on my phone to add some eth to if they dip any further. I am way more bullish on ETH than BTC but am using it as a bit of a hedge right now which has worked well enough to offset alt coin losses so far.

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[lucasmello]

My portfolio is down 40-50% from 10 days ago. I own a lot of altcoins, so BTC's price rising is bad news short-term.

However, I expect that once the price of BTC stabilizes, say 3-5 weeks, we should see a major sell-off in Bitcoin flowing into alts.

Don't sell at a loss.

Hodl.

 

[Coalission]

Today at 5pm EST:

 

[HackVenture]

Hey guys, transitioned here from that epic other thread.

Would be great to have another avenue of discussion on crypto investing here.

I started in May this year, and crypto really showed me first hand why "the rich get richer". I have many successful friends in the affiliate marketing world who have already made obscene amounts from this in a very short time.

I got into the ICO game relatively late and have been really selective as it's starting to get harder to make big money from ICO's and it's probably going to get even harder. My only 2 ICO's so far have been Kyber and Chainlink and both were pretty good.

I'm now quite invested in china coins as I foresee good news and that all this China FUD is going to blow over.

Personally I do see ETH as strong than BTC as well but BTC's recognition is sufficient to overcome its flaws and I'm banging on the fact that when institutional $$ comes in it's going to be into BTC's and not alt's.

So I'm holding ETH, BTC, and a whole bunch of other alt coins, many of which I really regret as I got in at very high prices, was still new to the game at that time but oh well, win some lose some, overall still very much in the black, and expect to be alot more profitable once the China FUD blows over.

Look forward to many more fruitful discussions in here!

 

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[HackVenture]

19th National Congress of the Communist Party of China opens today.

I've been waiting for this for a long time as I foresee good news for my China coins.

I intend to let go of most of my alts come 27th Oct after hard fork.

How are you guys preparing for the hard fork?

 

[steelandchrome]

19th National Congress of the Communist Party of China opens today.

I've been waiting for this for a long time as I foresee good news for my China coins.

I intend to let go of most of my alts come 27th Oct after hard fork.

How are you guys preparing for the hard fork?

I bought a ledger nano s for the Bitcoin I bought but haven't taken any other major actions yet. I am likely going to trim a few alt coins to trade for ETH or possibly a different alt coin as it gets closer.

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[HackVenture]

I bought a ledger nano s for the Bitcoin I bought but haven't taken any other major actions yet. I am likely going to trim a few alt coins to trade for ETH or possibly a different alt coin as it gets closer.

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Cool. I'm using the trezor I bought for BCC the last fork.

But this time round I am not that keen on BTG, so if alts really drop to a super attractive level on the 24th I might expend my BTC to buy cheap alts instead of hanging on for BTG.

Not going to do much during this period, just bought a bunch of ETH for ICO's.

25th-27th I would expect people to start dumping BTC for cheap alts.

I intend to get back into BTC again after 27th as I expect bloodshed again during the period leading to segwit2x.

Thoughts?

 

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[ShadowX]

2 days brand new into crypto. I have no clue what you guys talk about in this thread haha, but with learning I'll hopefully understand it one day.

My friend is heavy into crypto, invested 100k+ into it. He recommended vertcoin, what do u guys think about it?

So I went ahead took his advice, invested money (I can afford to lose) into Vertcoin when it was $4, sold it at $5.20 , made good profit

Vertcoin (VTC) price, charts, market cap, and other metrics | CoinMarketCap

 

[steelandchrome]

2 days brand new into crypto. I have no clue what you guys talk about in this thread haha, but with learning I'll hopefully understand it one day.

My friend is heavy into crypto, invested 100k+ into it. He recommended vertcoin, what do u guys think about it?

So I went ahead took his advice, invested money (I can afford to lose) into Vertcoin when it was $4, sold it at $5.20 , made good profit

Vertcoin (VTC) price, charts, market cap, and other metrics | CoinMarketCap

Good for you. I work way too much to trade really so am more into buy and holding right now and trying to stay in ETH, BTC, amd LTC for 75% of my portfolio. If you can watch and time the market there are a ton of opportunities to make good returns on a day to day basis.

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[Tom.V]

Figured I'd comment as I've been dabbling in crypto since May. Early on I had made some newbie mistakes which I took on the chin and lost a couple grand. Since then I've taken a mostly buy and hold strategy with it buying on the dips and it has been working out fairly well with a 45% return on initial risk capital. Current holdings in predominantly BTC and LTC currently, a few alts such as Siacoin (which has floundered for some time), and some ETH. At this point I am just stockpiling BTC and will continue so long as I can get in at a good price, same goes for LTC and ETH.

 

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[MarekvBeek]

@JScott any thoughts on why Ethereum is fluctuating around $300 for so long?

 

[zargor]

My take is that with the upcoming Segwit2x fork, a lot of investors are holding BTC in hopes of getting free coins after the split (like with BCC). I also think this is contributing to the stagnation of alt-coins.

I could be wrong, but I think that come December, things should get better for ETH and alts...

What will be interesting is whether people are properly accounting for these free coins, when it comes time to do their tax.

I can imagine there may be cases where some people may not even remember receiving free coins as they have either left them on the exchange or have the original coins in a cold wallet and haven’t split them yet.

 

[MJ DeMarco]

FYI: We will have someone speaking at the Summit about crypto (positively)... will be interested in hearing his take.

My take is that with the upcoming Segwit2x fork

After the fork, should we expect a sell-off?

 

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[C-Jay]

@JScott any thoughts on why Ethereum is fluctuating around $300 for so long?

How long is so long? It's been what, 3-4 months? Bitcoin had like 2 years of steady decline/stagnation between 2013-2015ish; and it just shattered 7k (!) even though it's a fundamentally useless platform. Crypto is known to move a mile-a-minute sometimes, and those periods create the stories, but in reality, 3-4 months is a drop in the bucket. Hodl or die friend.

 

[C-Jay]

FYI: We will have someone speaking at the Summit about crypto (positively)... will be interested in hearing his take.



After the fork, should we expect a sell-off?

There's a lot of sentiment around BTC being tremendously overvalued right now...then again, BTC is shattering it's records lately like nobody's home. The ETH/BTC ratio is like 0.041 right now which is making a lot of ratio-traders salivate. With DC3 happening there's a lot of ETH fans going long on the ratio which is completely in the pits but is unlikely to stay there for too long.