The Cryptocurrency Investing Discussion

[Patrick R]

I've already posted my thoughts on Verge... Horrible management team, inexperienced engineering staff, bad advisors and uninteresting product. The privacy is at the protocol level, not the application level, so you won't be able to shield your transactions from the IRS. In fact, there are still rich lists, so we can all see who owns a lot of the token.

Basically, all they're doing is running the token over Tor to obfuscate IP addresses -- that's not at all revolutionary. You can do the exact same thing with Bitcoin.

Oh definitely true! And good information if that's what you're planning to use the coin for. But as a completely investment standpoint, looking at their new marketing team and knowing how hive-mind public opinion is I can see a mass rush of people buying it up thinking it's a tax shelter and a great investment without knowing anything about it.

I don't plan on using it as a privacy coin but as an investment avenue. Hoping to catch in before the hive mind run up.

It's bleak but I tend to think that the majority of the "mom and pop" investors aren't doing the most research or knowing what they are reading. I think a coin like Verge can have a big run up whether it should or not and I hope to cash in on that.

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[Patrick R]

I love TRX. It's my largest holding since I got in early. I think it's going to be a long term hold for me

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[Jimmyy]

Is it likely that one single coin, whether it exists yet or not, will eventually completely dominate the market?

 

[Patrick R]

Is it likely that one single coin, whether it exists yet or not, will eventually completely dominate the market?

I highly doubt it. They thought that with BTC originally and we see how that worked. Each coin has such different uses than the others that they will continue to exist and be valuable.

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[CPisHere]

Is it likely that one single coin, whether it exists yet or not, will eventually completely dominate the market?

Yes and no.

If you consider coins as one big, single collection - certainly not. There are too many different reasons for many of them to exist. But, within pockets of specific value propositions - I think the answer is largely yes.

 

[steelandchrome]

Turns out I was right about this one being the best investment to date:

That 3000 ETH investment has now generated over $100M in profits for us.

Market cap is nearly $4B, and we're still three weeks away from product launch...

Turns out that to get our allocation, we needed to take the non-ERC-20 tokens, which aren't released until the product launches later this month, so this has been a forced HODL for everyone in the group...

If you don't own any ICX, I highly recommend it... It has a long way to go, in my opinion...

Traded all my KNC for ICX. Considering selling off half of my MTH as well since its been going nowhere...

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[steelandchrome]

MTH is now the only coin I've purchased where the current price is less than what I purchased it for. Very disappointing. Good team, but they can't execute and their marketing is horrible (obviously).

I sold all but about 5000 MTH, and I'm only keeping the rest in case something crazy happens.

I was thinking ICX would hit $10 by the day of the product launch, but with it getting there 17 days early, I really think there is additional room for a big run between now and then. I'm hoping for $20 (though obviously I have no idea). Once the product launches, there will be a big push in Korea for Icon, and I think it could go much higher in 2018.

Agreed. I am slightly underwater in MTH but down about $2000 if I wpuld have just left it in ETH. I am in ICX for an avg of $7.50 or so and agree it could easily double from here hitting $10 today already and still relatively under the radar. Damn KNC jumped 40% about an hour after I sold it to trade for ICX as well but my account is at an all time high so I suppose I can't complain too much.
Also getting close to selling off all my BTC that I bought to hedge against my alts (I know your opinion on BTC but luckily I've about tripled in BTC from where I got in so good either way.)
I personally think LTC is getting ready for another run up especially when they announce lighting swaps (rumored to announce within a month) and could be an easy 30-40%.

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[powderhound100]

- Nebulas (NAS): I consider this Neo 2.0...another next-gen blockchain that has the opportunity to make some real in-roads. Bought at $2, but didn't talk about it because I thought we were a few months from it taking off. But, it hit $12 today, and I think it has a long way to go. It hasn't hit any major exchanges yet, but hoping/expecting it to hit Binance relatively soon.

Do you mind explaining how you see Nebulas being considered Neo 2.0? Nebulas seems to be a decentralized blockchain search network. Will they be implementing smartcontracts etc. as well?

 

[Dan_Fastlane]

Best picks atm:

$LEND $CND $ENG $ICX

 

[Anon48331]

hi @JScott what is your opinion on BitDegree? have you and your group looked into that ICO? It was my first ICO and I decided to get in right before they hit the hard cap

 

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[Patrick R]

How are you guys dealing with getting into ICOs that are KYC or non-US citizens. I feel like I've missed quite a few due to that

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[Five Star]

But, I will say that I have nearly seven figures in this coin.

That's not a typo is it?

 

[Castillo]

That's not a typo is it?

"That 3000 ETH investment has now generated over $100M in profits for us.

Market cap is nearly $4B, and we're still three weeks away from product launch..."


Don't think so

 

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[biggeemac]

Does anyone have a strategy on how to ride these waves up to maximize the holdings in a given coin ? IE when or how much to sell and buy in again at the bottom of the wave?

 

[Patrick R]

Does anyone have a strategy on how to ride these waves up to maximize the holdings in a given coin ? IE when or how much to sell and buy in again at the bottom of the wave?

To be honest, now with the new tax laws, unless you've created an LLC to write off tons of stuff that will equal your capital gains losses it seems like a better strategy to buy and hold. Even if you only mid-hold for 365 days, as soon as you cross the one year mark the tax % drops significantly.

Just my opinion though.

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[James Fake]

Eth. Moon. This Week. $4000+

I'm all in at $1,145

 

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[steelandchrome]

Why don't you think so?

I'm not going to get into the habit of proving my claims (anyone here who knows me knows that I'm very straightforward), but I guess this one is a reasonable one to doubt. So, here goes...

Here's the pre-sale info for this coin:

ICON Pre-sale (ICX) - All information about ICON Pre-sale ICO (Token Sale) - ICO Drops

Pre-sale allocation was 2500 ICX/ETH + 10% bonus. For a 3000 ETH contribution, that's 8.25M ICX tokens. At a current price of about $11 (was well over $11 when I wrote that above), that's just over $90M.

And here is our transfer of 3000 ETH to the company:

Ethereum Transaction 0xafd74618456636f2fdfae96ac816ce153f46b04e6287b5bdfd7f2d3bc6b42873

You can do the math to verify...

Btw, there is another member of this forum who participated with us as well. He's not on the inside, so he's not seeing this thread...otherwise, I'm quite certain he'd respond.

Lucky guy, I'm sure he can afford to pay for INSIDERS subscription now [emoji6]. I'll get in on one with you someday... For now I'll be signing up for the crypto hotspot tonight.

Happy to say my crypto gains on $15k investment more than doubled the returns on 8X that invested in the stock market last year. Wish I would have went in bigger to start off....


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[Castillo]

Why don't you think so?

I'm not going to get into the habit of proving my claims (anyone here who knows me knows that I'm very straightforward), but I guess this one is a reasonable one to doubt. So, here goes...

Here's the pre-sale info for this coin:

ICON Pre-sale (ICX) - All information about ICON Pre-sale ICO (Token Sale) - ICO Drops

Pre-sale allocation was 2500 ICX/ETH + 10% bonus. For a 3000 ETH contribution, that's 8.25M ICX tokens. At a current price of about $11 (was well over $11 when I wrote that above), that's just over $90M.

And here is our transfer of 3000 ETH to the company:

Ethereum Transaction 0xafd74618456636f2fdfae96ac816ce153f46b04e6287b5bdfd7f2d3bc6b42873

You can do the math to verify...

Btw, there is another member of this forum who participated with us as well. He's not on the inside, so he's not seeing this thread...otherwise, I'm quite certain he'd respond.

Lol man I think you completely misunderstood me,

He was asking if it was a typo, I was stating that you guys have collectively made 100m cash from it was all. Saying it def wasn't a typo lol

 

[Five Star]

Why don't you think so?

I'm not going to get into the habit of proving my claims (anyone here who knows me knows that I'm very straightforward), but I guess this one is a reasonable one to doubt. So, here goes...

Here's the pre-sale info for this coin:

ICON Pre-sale (ICX) - All information about ICON Pre-sale ICO (Token Sale) - ICO Drops

Pre-sale allocation was 2500 ICX/ETH + 10% bonus. For a 3000 ETH contribution, that's 8.25M ICX tokens. At a current price of about $11 (was well over $11 when I wrote that above), that's just over $90M.

And here is our transfer of 3000 ETH to the company:

Ethereum Transaction 0xafd74618456636f2fdfae96ac816ce153f46b04e6287b5bdfd7f2d3bc6b42873

You can do the math to verify...

Btw, there is another member of this forum who participated with us as well. He's not on the inside, so he's not seeing this thread...otherwise, I'm quite certain he'd respond.

@JScott - my apologies. Didn't intend for this to happen.

My take was that @mcastillo actually had your back, and his "I don't think so" was in response to me - not you. He was simply using your $100mm post to further solidify your knowledge.

It's obvious you're an expert on crypto and that no-one is questioning you. I believe our comments were based on being very impressed - and somewhat in awe.

 

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[Scot]

My apologies...I got defensive.

We should make you defensive more often, share more secrets and behind the curtain stuff haha

 

[Five Star]

Relieved that ended well @JScott @mcastillo

Thanks to everyone for the awesome thread, and all the insights. At this point I feel like I've been reading long enough and nothing is really going in anymore so it's time to take action - albeit at the small end of the scale.

Although I understand the basics of Blockchain, Bitcoin, Ethereum, mining (wallets still seem a little confusing) etc., I think the only way I'll really learn is by getting stuck in and experiencing things first hand.

With that in mind....

I plan on taking £1,000 and investing for the long term in:

20% BTC
60% ETH
20% LTC

Then, once I have that set up - researching altcoins with a lower cost of entry and investing around £500 in 4-5. These ones I plan on watching more closely and trading somewhat if the timings look good.

I've never traded before - at all. Interested to know if this sounds like a solid plan from some of you more experienced traders?

My account has been approved in Coinbase, so I'm in the process of moving some funds around so I'm ready to invest.

Does anyone have predictions for dips in BTC, ETH, or LTC in the next week or two that might signal a good time to get in?

 

[Five Star]

This is one of the bigger mistakes I see people make when it comes to trading...

First, remember that you don't need to buy whole coins of anything. So, when it comes to investing small amounts, the price of what you're investing in doesn't matter. You can buy $100 worth of a $.01 coin or $100 worth of a $10,000 coin.

Now, I understand the psychology of, "Well, that $.01 coin only has to go to $.02 for me to double my money, whereas the $10,000 coin has to go to $20,000!"

But, remember, that $10,000 coin got to $10,000 and that $.01 barely got to $.01. So, there's no reason to believe it's more likely for the $.01 to double before the $10,000 -- in fact, it's probably less likely.

Long story short, I would invest in the coins that you believe will do well, regardless of their price. If it's a $1 coin, great! If it's a $10 coin, great! It doesn't matter. Pick good assets and they will take care of the rest...

Thanks for the advice.

Indeed, that's where my psychology was at. I'm almost certain I read in another thread that there's more chance of smaller value coins making a huge jump in value - though I could be mistaken.

I'll take your words of wisdom on board

 

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[Dan_Fastlane]

This is one of the bigger mistakes I see people make when it comes to trading...

First, remember that you don't need to buy whole coins of anything. So, when it comes to investing small amounts, the price of what you're investing in doesn't matter. You can buy $100 worth of a $.01 coin or $100 worth of a $10,000 coin.

Now, I understand the psychology of, "Well, that $.01 coin only has to go to $.02 for me to double my money, whereas the $10,000 coin has to go to $20,000!"

But, remember, that $10,000 coin got to $10,000 and that $.01 barely got to $.01. So, there's no reason to believe it's more likely for the $.01 to double before the $10,000 -- in fact, it's probably less likely.

Long story short, I would invest in the coins that you believe will do well, regardless of their price. If it's a $1 coin, great! If it's a $10 coin, great! It doesn't matter. Pick good assets and they will take care of the rest...

yes the price is useless but if we take psychology into this and crypto depends on new money coming in, what do you think the new buyers will prefer... clearly the low price ones and when those coins are even good ones they will explode... All depends on Marketcap a good coin from top 50-100 will more likely to tripple than Ripple with 100bilion market cap in the next 6 months. And there are a lot of better coins atm then those in Top 5, how i know? i made some transactions with them, most horrible one with high fees was BTC (i waited long time to receive BTC). I must say most positive in Top 5 for me is ETH. Ripple is not decentralized even crypto is all about decentralization. Nice adventures ahead of us!! cheers

 

[Lex DeVille]

Simple solution to which coin will explode...

Buy some of all of them.

 

[Five Star]

Regarding the high fees on Coinbase, is there a better option for BTC, ETH and LTC?

 

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[amp0193]

Regarding the high fees on Coinbase, is there a better option for BTC, ETH and LTC?

gdax

 

[steelandchrome]

Regarding the high fees on Coinbase, is there a better option for BTC, ETH and LTC?

Yup, load in money to gdax.com (owned by coinbase) and as long as you place limit orders there are zero fees and id you place market orders they are half coinbase fees.

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[BradD]

For Canadians, I like the following stack in terms of reliability/lowest fees:

1) Quadrigacx to fund acct
2) Coinigy to trade
3) Coinigy linked to GDAX for top coins, Binance for Alts
4) and withdrawals thru Quadrigacx

Just let me find those affiliate links to add in here, brb..

 

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[kubikdanon]

My holdings. Nebulas and ICX have been doing greatly so far

 

[Five Star]

gdax

Yup, load in money to gdax.com (owned by coinbase) and as long as you place limit orders there are zero fees and id you place market orders they are half coinbase fees.

Thanks. I'm in the UK, but looks like I can still use gdax.com

Why are the fees lower, considering coinbase own both?

Got to get my head round some of those these terms 'limit orders', and 'market orders', 'gas price', 'GWEI' etc.

Maybe I DO still need to read a little more - it's a real minefield