The Cryptocurrency Investing Discussion

[GPM]

I have yet to buy any, however I am going through the verification process on QuadrigaCX right now.

I do have my computer set to mine, and I added a second GPU to it for mining as well. I will "pay off" that new GPU in about 2 months or so through mining. I am actually going to pick up a super old XPS desktop tonight, and 2 last gen GPU's that I am getting for cheap. I will put linux on that machine and have it run non stop mining. It should also "pay off" in about 2 months. These systems have the added bonus of heating my office, which is currently absolutely freezing due to these crazy temperatures outside.

 

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[Nigel B]

Parts of this thread are essentially "I really don't know what to do in crypto, what do you guys think I should do?".

I'm wondering whether J Scott or others have any knowledge of the Covesting platform which is squarely aimed at that kind of investor (Covesting - #1 Copy-trading platform for Crypto Currencies.) - not the coin (which hits the market post ICO 1/20) but the people behind the platform. There have been a bunch of failed stockmarket sites like it, but generally they did not screen the 'traders' building the portfolios as Covesting claims they do.

 

[amp0193]

Dammit James, i went all in on ETH because of your post!

Don't try to follow @James Fend , he moves way too fast.

 

[amp0193]

I'm wondering whether J Scott or others have any knowledge of the Covesting platform which is squarely aimed at that kind of investor (Covesting - #1 Copy-trading platform for Crypto Currencies.) - not the coin (which hits the market post ICO 1/20) but the people behind the platform. There have been a bunch of failed stockmarket sites like it, but generally they did not screen the 'traders' building the portfolios as Covesting claims they do.

Looks like the worlds biggest pump and dump platform.

 

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[Nigel B]

Looks like the worlds biggest pump and dump platform.

That might yet be Telegram ...

You mean the platform offers that potential - for a crowd to follow someone who is intentionally pumping, before dumping? If so, they would have to keep reregistering (which you'd hope the vetting process caught) or their track-record would simply negate them as someone for 'investors' to follow.

Without the vetting, this is certainly the case and as I noted, there are any number of stock sites with portfolio following which fail that test.

 

[steelandchrome]

Korea made an announcement that -- to some -- sounds like they might be banning crypto exchanges in Korea. That's what's driving the downturn... Very similar to when China did the same thing. Hopefully this is just a mischaracterization or manipulation. We'll see...

Good time to buy ICX though...

Seriously, was down 30% from where it is now not too long ago but coming back steadily..

Sent from my SM-G935V using Tapatalk

 

[Nigel B]

Good time to buy ICX though...

@JScott - so much value added to this thread (and many others) but your ICX recommendations are starting to sound like pumping

 

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[Nigel B]

. Of course, that assumes this rumor about South Korea banning crypto isn't true...

Yep, to see the vast swings in the market against rumor is really quite entertaining - but as you say if that ban was real, things might be a bit different - not just for ICX!

 

[steelandchrome]

Okay, I have it on reasonably good authority (someone in Korea that is high up in the industry) that this isn't a ban, and that the government is just looking to shut down unregulated exchanges and put tighter restrictions on KYC... Hopefully that will be made more clear publicly pretty soon...

Crossing my fingers!

Sent from my SM-G935V using Tapatalk

 

[Nigel B]

Hopefully that will be made more clear publicly pretty soon...

Here's hoping.

That said all the hand wringing by people 30% down on any given coin they are (or should be) way up on highlights the problem with a relatively accessible embryonic market - an expectation that it only moves in one direction and absolute panic when it moves against them.

 

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[James Fake]

Hey guys.. I may be updating this too late but hopefully you have a few hours. If you can; I would suggest going all into fiat for the next day or so.

I see a few too common traits to December 22 in my charts. I have my Bitcoin buy orders set at $10,500..

 

[James Fake]

Don't try to follow @James Fend , he moves way too fast.

... @biophase $1100s is good buy in. Expect some big dips through out tomorrow and possibly Eth continuing a .5 retrace but Eth will be the first to bounce back. I actually think Eth's "day" is coming soon..

There's two sides to a correction. Coins that are over-valued. And also coins that are under-valued. In Eth's case; it's the later and I believe a correction to it's price will happen right after Bitcoin settles down from bottoming out and then finding support after the bounce back.

 

[biophase]

... @biophase $1100s is good buy in. Expect some big dips through out tomorrow and possibly Eth continuing a .5 retrace but Eth will be the first to bounce back. I actually think Eth's "day" is coming soon..

There's two sides to a correction. Coins that are over-valued. And also coins that are under-valued. In Eth's case; it's the later and I believe a correction to it's price will happen right after Bitcoin settles down from bottoming out and then finding support after the bounce back.

I’m not a trader. Just buy and hold.

Not to be a downer on this thread but what I’ve learned from years of stock market investing is that buying and holding is a much easier strategy, less stressful and ultimately more profitable. I used to trade when I was younger and never beat a buy and hold of a quality stock. For example i got into Tesla at $30 and Amazon at $230.

In fact i just notice that the only time i check my coinbase prices is when i get an email that there’s a new reply in this thread. I haven’t logged into Bittrex in 3 weeks.

 

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[Dan_Fastlane]

I’m not a trader. Just buy and hold.

Not to be a downer on this thread but what I’ve learned from years of stock market investing is that buying and holding is a much easier strategy, less stressful and ultimately more profitable. I used to trade when I was younger and never beat a buy and hold of a quality stock. For example i got into Tesla at $30 and Amazon at $230.

In fact i just notice that the only time i check my coinbase prices is when i get an email that there’s a new reply in this thread. I haven’t logged into Bittrex in 3 weeks.

i also dont trade by any means but hodl just 3-4 coins and sell 50% on ATH and rebuy on low so i have more coins for the long run!

 

[CPisHere]

My current view is that altcoins are massively over-valued, but the over-valuation may continue to get bigger for another year or two. At some point, people will realize 90% of these coins are worthless (Ripple is garbage) but I don't see anything forcing that correction for quite some time. The money is likely to flow between coins for one heck of a bumpy ride and drive the total market cap of altcoins much higher.

Bitcoin will perform best in 2018 whenever bad news strikes a hot altcoin, as money moves back to the "safer" Bitcoin, which then starts an upward trend until people move back to altcoins, causing a drop. Bitcoin will under-perform altcoins until the reckoning happens.

Ultimately, it will be a VERY volatile year for cryptocurrency but I expect the overall market cap to grow substantially.

I've changed my mind on so many coins I hate to even mention, but at this point Bitcoin and Monero (where all the drug dealers are moving to) are the only two I consider solid, safe investments due to how proven their products are and their network effect. Ethereum is a close third here, but they have a lot more technological issues to solve before I would consider them safe. If they solve those issues they will be huge though.

I see two ways to play it. One - value invest in solid currencies, or Two - speculate on which coins could spike/ride the wave up/move to Bitcoin in-between.

 

[BradD]

Anyone else see an opportunity to create indexes around Crpyto / Alts for investors?

Say, an Alt 500 index, or a Crypto 100 index (inc the top coins)- the indexes could be market cap weighted (similar to S&P) and weightings would adjust daily. You would then have the ability to invest in it similar to an ETF w/ low management fees.

Big questions- 1) would this fall under the supervision of the SEC 2) how do tx fees on buying/selling crypto impact the ability to execute

Perhaps this is already happening.. I'd be interested in it personally

 

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[CPisHere]

Anyone else see an opportunity to create indexes around Crpyto / Alts for investors?

Say, an Alt 500 index, or a Crypto 100 index (inc the top coins)- the indexes could be market cap weighted (similar to S&P) and weightings would adjust daily. You would then have the ability to invest in it similar to an ETF w/ low management fees.

Big questions- 1) would this fall under the supervision of the SEC 2) how do tx fees on buying/selling crypto impact the ability to execute

Perhaps this is already happening.. I'd be interested in it personally

I believe a few attempts have been made to create a crypto ETF and all have stopped due to the SEC.

 

[Coalission]

Anyone else see an opportunity to create indexes around Crpyto / Alts for investors?

Say, an Alt 500 index, or a Crypto 100 index (inc the top coins)- the indexes could be market cap weighted (similar to S&P) and weightings would adjust daily. You would then have the ability to invest in it similar to an ETF w/ low management fees.

Big questions- 1) would this fall under the supervision of the SEC 2) how do tx fees on buying/selling crypto impact the ability to execute

Perhaps this is already happening.. I'd be interested in it personally

Bitwise

ICONOMI

 

[BradD]

I believe a few attempts have been made to create a crypto ETF and all have stopped due to the SEC.

Not surprised...

Bitwise

ICONOMI

Awesome, worth a look! And unlike many crypto sites, it doesn't look like they threw their website together in 2 hrs using MS paint

 

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[James Fake]

I agree. Buying and holding is the best strategy for the majority!

However; I wouldn't quite say it's the "best" strategy (as far as optimal returns go).. I turned $2,000 to $100,000 in a month and have recently took out my first $25k into the bank account from reaching the $100k milestone.

As you can imagine; that first $2 to $25,000 was the hardest to reach. But things grew crazy exponential when I was playing with a $50k bankroll; jumped to $100k in one day. Went to $117k then market turned bear (without me noticing), and went back and forth above $100k line to $86k where I decided at that point to go ahead and take out the $25k as planned (some jokingly said I hit a resistance line at $100k lol). Next milestone is $250k where I plan on taking $100k off the map.

If my projections hold up right; I will be at my first $M in the next 3-4 weeks.. WITH another million cash money sitting in the bank account (the absolute most important goal: pulling profits during the ride, not what you end up at the end) on top of the $M bankroll I plan to keep in the exchanges.

I'm currently still sitting in fiat, patiently waiting for Bitcoin to bottom out in the next days then I am going back in with crazy leverage.

Again; this path isn't the right one for everybody as I have time to run this full-time. And I fully agree with @biophase that holding is the best strategy for 99% of people. But the actual act of trading can be used as a fastlane vehicle once you nail down the right strategy.. having an edge in trading helps a ton too. =)

Here are my trade logs for those still skeptical. The slack I'm in with many INSIDERS can attest to this as I've shared almost everything on the way up with them: Journey: From $2,000 to $10 Million Trading Crypto

I also want to add this; My goal is actually $25M. I think I could do a lot more in the coming months.. and I say this with the most serious face.. but I think I can milk this market for $100M in my bank account before the bubble comes. And tons more after the bubble is done..

 

[Five Star]

I agree. Buying and holding is the best strategy for the majority!

However; I wouldn't quite say it's the "best" strategy (as far as optimal returns go).. I turned $2,000 to $100,000 in a month and have recently took out my first $25k into the bank account from reaching the $100k milestone.

As you can imagine; that first $2 to $25,000 was the hardest to reach. But things grew crazy exponential when I was playing with a $50k bankroll; jumped to $100k in one day. Went to $117k then market turned bear (without me noticing), and went back and forth above $100k line to $86k where I decided at that point to go ahead and take out the $25k as planned (some jokingly said I hit a resistance line at $100k lol). Next milestone is $250k where I plan on taking $100k off the map.

If my projections hold up right; I will be a my first $M in the next 3-4 weeks.. WITH another million cash money sitting in the bank account on top of the $M bankroll I plan to keep in the exchanges.

I'm currently still sitting in fiat, patiently waiting for Bitcoin to bottom out in the next days then I am going back in with crazy leverage.

Again; this path isn't the right one for everybody as I have time to run this full-time. And I fully agree with @biophase that holding is the best strategy for 99% of people. But the actual act of trading can be used as a fastlane vehicle once you nail down the right strategy.. having an edge in trading helps a ton too. =)

Here are my trade logs for those still skeptical. The slack I'm in with many INSIDERS can attest to this as I've shared almost everything on the way up with them: Journey: From $2,000 to $10 Million Trading Crypto

I also want to add this; My goal is actually $25M. I think I could do a lot more in the coming months.. and I say this with the most serious face.. but I think I can milk this market for $100M in my bank account before the bubble comes. And tons more after the bubble is done..

Seriously impressive projections!!

Thanks for sharing your progress, it's great to get insights from someone who knows what they're doing.

I've a couple of questions if you don't mind:

- how did you learn your trading skills?

- what are your tips from getting to that first milestone you mentioned that was the hardest; $2k-25k?

Cheers.

P.S. Think I'll go on over and sign up to your slack group if you don't mind, from your earlier link. Already following you on telegram

 

[Contrarian]

Wow. Thanks for all the value in this thread.

I agree. Buying and holding is the best strategy for the majority!

However; I wouldn't quite say it's the "best" strategy (as far as optimal returns go).. I turned $2,000 to $100,000 in a month and have recently took out my first $25k into the bank account from reaching the $100k milestone.

As you can imagine; that first $2 to $25,000 was the hardest to reach. But things grew crazy exponential when I was playing with a $50k bankroll; jumped to $100k in one day. Went to $117k then market turned bear (without me noticing), and went back and forth above $100k line to $86k where I decided at that point to go ahead and take out the $25k as planned (some jokingly said I hit a resistance line at $100k lol). Next milestone is $250k where I plan on taking $100k off the map.

If my projections hold up right; I will be a my first $M in the next 3-4 weeks.. WITH another million cash money sitting in the bank account on top of the $M bankroll I plan to keep in the exchanges.

I'm currently still sitting in fiat, patiently waiting for Bitcoin to bottom out in the next days then I am going back in with crazy leverage.

Again; this path isn't the right one for everybody as I have time to run this full-time. And I fully agree with @biophase that holding is the best strategy for 99% of people. But the actual act of trading can be used as a fastlane vehicle once you nail down the right strategy.. having an edge in trading helps a ton too. =)

Here are my trade logs for those still skeptical. The slack I'm in with many INSIDERS can attest to this as I've shared almost everything on the way up with them: Journey: From $2,000 to $10 Million Trading Crypto

I also want to add this; My goal is actually $25M. I think I could do a lot more in the coming months.. and I say this with the most serious face.. but I think I can milk this market for $100M in my bank account before the bubble comes. And tons more after the bubble is done..

Wow.

I got into crypto just over a month ago. I bought £1000 of ADA at $0.12, intending to just let it sit there for a year or five and see what happens.

Weeks later I'd already 10x'd my money. Then I started thinking...I only need to do that twice more to be a millionaire. Or double it several times. 100% gains within days haven't been a rare occurence.

Nice to know my thought process might not be as crazy as it seems!

I took $2000 out of ADA when it had dropped back to $1 (not because panic, because I'd started thinking about diversifying) and split it pretty evenly between VEN and ICX, with a small amount into the HQX ICO.

Even after all the bleeding these past days, I'm still up nearly 600% on my original investment.

Still considering what to do next when the market rebounds.

 

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[James Fake]

Create Account | Slack

This Slack group was originally made and still is for the INSIDERS! There are a few good friends of INSIDERS in here but it's 85% of us in there. Hope to see more in there! @Five Star

 

[James Fake]

And yes @Contrarian - exactly. So our whole foundational base of this "fastlane trading strategy" lol is:

1) If you hold a coin; although you will gain every single last bit of any run - you have to go through it's dips, corrections, and retracements as well.

2) There is almost ALWAYS a top 10 coin that is going on a positive run (sometimes not when the overall market sucks like right now) and ALWAYS an equal amount of coins going through retrace and ALWAYS some coins just sitting there ready to explode.

3) Why sit in a parked bus? or one going down? When you hop over into the coin that is moving, and then hop back into your original coin when it gets moving again? (many times, you will even get more position aka more coins of what you originally had)

4) This way; you are always moving up.

Now; that's not to say; this strategy takes no work. You have to study, study, study. And experience. And know some charting. And know the crypto heartbeat and how everything Yins and Yangs in there.

The main thing; you have to know what bus (coin) to get into.. NEVER try to board a bus that is already moving lol. (imagine this literal in your head and you can see why it's a really bad idea) Instead, get on a bus 15mins before it leaves.

So until you get the exact science down on when and what bus to board.. Again; just holding and forgetting is the best strategy..

 

[CPisHere]

Create Account | Slack

This Slack group was originally made and still is for the INSIDERS! There are a few good friends of INSIDERS in here but it's 85% of us in there. Hope to see more in there! @Five Star

Thanks! Just joined.

 

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[TKDTyler]

Don't try to follow @James Fend , he moves way too fast.

Gotta be nimble, Gotta be quick.
Better not chose or you catch a red wick

 

[Castillo]

What are your guys thoughts on XP, Kin, and Rchain?

 

[James Fake]

Back in the market now.. Inside XRP and XLM at the current moment. Since this is the INSIDERS; I will go ahead and post the other coins I am eye'ing on moving onto once I feel XLM has reached top:

ADA (really ready to pop any time)
XVG (kind of ready to pop any time)
LTC (if indeed BTC is near the bottom and has a pop up; you know LTC aint far behind.)

 

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[SwissTuxedo]

Back in the market now.. Inside XRP and XLM at the current moment. Since this is the INSIDERS; I will go ahead and post the other coins I am eye'ing on moving onto once I feel XLM has reached top:

ADA (really ready to pop anytime)
XVG (kind of ready to pop anyimte)
LTC (if indeed BTC is near the bottom and has a pop up; you know LTC aint far behind.)

Thanks for the share, saw you posted on telegram as well. How do you structure your trades If you are invested in multiple coins at once ?

 

[James Fake]

I'm actually in the rare 50/50 right now with XRP and XLM. However; most times I am actually 100% inside one coin.

I like to find coins that are very poised for a breakout; has signals that it's hit the absolute bottom and then go 100% in. Very low downside with nothing but huge upsides.

However; I don't recommend this tactic until one gets a full feel of the market pulse. It takes a second level of emotional and psych discipline + experience enough to feel comfortable and say "everything is okay" while every one else is partying.

I was actually talking to somebody about this; if you absolutely know for a certain fact that the pitcher is going to through a nice, medium fast ball right down the center.. no reason not to try to smash that into a home run (no bunting, no trying to finesse the ball a certain direction,.. just pure swing for the fence and kill it).