The Cryptocurrency Investing Discussion

[CPisHere]

Why do you say that?

They have a great management team, awesome engineering group, a real product with a solid roadmap, they have over a hundred very large customers lined up to test their product, they have partnerships with Amex and MoneyGram and their business model is one that would allow them to generated significant revenue, and potentially significant profit.

They have executed better than anyone in that space so far, and from a product and customer standpoint, I don't see anyone even close.

Why do you think it's garbage?

Ripple the company is fine. They are great at marketing. The problem is that XRP's market cap is entirely speculation (as are the majority of altcoins). No bank is actually using the coin, and the way banks operate - they are at least 3 years away from usage justifying basically ANY value - much less the 2nd highest market cap in the industry. If Ripple ever got a substantial amount of banks utilizing XRP, then sure - XRP would deserve a huge market cap. But frankly, I don't believe banks will ever substantially utilize XRP.

That doesn't mean there isn't money to be made with it though.

Like I said, I see 2018 being a volatile bull market for altcoins. Even ones that have no value and will eventually die. XRP might be one of the ones that makes it out to the other side.

 

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[amp0193]

LTC (if indeed BTC is near the bottom and has a pop up; you know LTC aint far behind.)

Yup, LTC sitting at 50% retracement, just biding it's time.

I'm in it, waiting for a multi-day run up to $600.

 

[Nigel B]

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. =)

I totally agree with this. Took me 3 years to figure out my options trading strategy, but am sitting on about a 70% trade success rate - gradually getting the balls to increase stakes. Problem with any volatile market is you have to be prepared to accept the losses and many people just can't cope with losses even against massive gains.

Loss aversion still eclipses upside desire for the majority.

 

[Nigel B]

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.

This is interesting advice, in that Trend Following in traditional markets pays very well if you set your parameters right (Turtle Trading and other strategies) - are you just saying the market is too volatile for this?

I appreciate that maximum upside gets missed this way. but equally you make less mistakes because even the best signals are sometimes noise (so you get on the bus, just before it goes back to the last stop).

 

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[Dan_Fastlane]

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).

what you think about $TRX, also found bottom!

if you have 4 coins with potential how you decide which one you go all in? like you mentioned here, your gut decide between those? ;D

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.)

 

[Nigel B]

Is anyone actually discussing blockchain/mesh applications on FL anywhere? I mean generating cashflow from trading is nice - but real (delivered) value will come from applying the technology to new and old problems. And isn't FL about providing value?

 

[steelandchrome]

Is anyone actually discussing blockchain/mesh applications on FL anywhere? I mean generating cashflow from trading is nice - but real (delivered) value will come from applying the technology to new and old problems. And isn't FL about providing value?

Not that I recall. Most of the discussion has been investing/speculation related but there have been a few comments here and there from folks with ideas mixed in one of the 4-5 crypto threads. I as well as most in this thread don't intend crypto as a fastlane or to make me rich but is sure a fun side gig that is making solid returns for time and money invested.

Sent from my SM-G935V using Tapatalk

 

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[steelandchrome]

Just for fun..., My brother built a ML bot and put in all binance coins with data for the past 90days with 10 day runs and this is what machine learning thinks has the highest chance of increasing over the next 24h.

I thought it would be fun to post, so it will be interesting to see what happens. This is what he sent me

NAME . PRICE TICKER
TIME NEW BANK $0.17 TNB
NEBLIO $33.3 NEBL
VIBE $1.33 VIBE
TIERION $0.29. TNT
DISTRICT0x $0.31. DNT
GENESIS-VISION . $33.90. GVT
SUBSTRATUM $2.25 SUB
LOOPRING $1.40. LRC
RCN $0.41 RCN
Blockmason $1.30 BCPT
Amber $1.15 AMBR

Projects ADA to go up about as much as everything else, and stellar to do bad tomorrow

Sent from my SM-G935V using Tapatalk

 

[CPisHere]

By that definition, nearly every crypto coin/token is garbage. Right?

Yes. Except some coins have the runway to solve their issues before a major correction and some have much easier to solve problems than others.

Doge coin has a $2 billion market cap. BILLION.

Again, that doesn’t mean you can’t make money with them.

 

[James Fake]

INSIDERS! Here's a copy/paste of my current trade: Ethereum.

- - - - - - - - - - - -

My sit of the week is Ethereum. I have been inside Eth at $1300 since last night. I will likely ride this for a few days. ALL of the market money coming in is going straight into Ethereum (then not leaving it).

Think about it... every time the total market cap increases; the ONLY coin that increases (that isnt a pump & dump poocoin) is Ethereum. Like in the past 24hrs; total market cap goes to $740B from $720B. But the only coin that moved was Ethereum from $1200 to $1400. $200 x 96 million Eth coins = roughly $20B.

Now most people wont enter or take Eth serious until it hits $1800 or so. In which case; I am already up 30% on them and almost 99% immune to any dips or retrace by entering coins early.

Right now; people are fighting over scraps. The money in the market now is full of us same ol’ traders who have been doing it for weeks.

Eth is slow and old. Its not sexy. But thats not the point; its only old, slow, and unsexy to us.

Its the complete opposite to anybody new coming into the market including wallstreet who has been dying to get in. They see Bitcoin down; Ethereum up. Ethereum is fast, sexy, and full of utility.

So quit fighting over scraps with each other & zag when everybody else zigs.

- - - - - - - - - -

EDIT: Watch for cup and handle possibly forming before making entry.

 

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[Nigel B]

My sit of the week is Ethereum

ETH has been my main holding over time - kicking myself for not liking/trusting BTC - but hey, it's about the technology if you are holding it long.

Personally like ETH, LTC and XRP for long term. There's a bunch of unproven (AFAIAC) alts which may get added to those long positions but everything else is driven more by hype, news, panic, hysteria and manipulation than by any real market demand (for the tech, not speculators playing the numbers).

 

[CPisHere]

And why don't you think Ripple is in that category? They have 5 years of development, a strong engineering team, an amazing BD team and real deployments. From what I've seen, they have more opportunity to generate a higher-than-zero P/E over the next 24 months than nearly any other company I've seen in this space.

Ripple as a company will be fine. Their coin, XRP, is completely unnecessary and a poor use of crypto/blockchain, as far as I understand it. Even if banks wanted to use the technology they don’t need XRP and getting banks on both sides of a transaction as customers is a hell of a challenge.

 

[c4n]

But, you also have the fact that none of Ripple's customers have created or used a coin on top of the platform other than XRP. While it could happen, the likelihood isn't great at this point.

This could quickly change if acquiring XRP became too expensive, couldn't it? Or the company could just issue more XRP, nothing is stopping them from doing so, right?

I am nowhere near as knowledgeable and experienced in the space as you are, but Ripple (the company) was also one of my big bets from when XRP was still veeery cheap (and one of my greatest regrets that I didn't acquire more at that time).

 

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[Tom.V]

Found this in the EOS Telegram group:

EOS just released big news. Among these is that block.one (the company behind EOS) has so far raised ~1.1 billion dollars from the token sale. Also, the CEO of Bithumb is joining block.one (good for Asian markets), and finally, that the first serious project on EOS, everipedia (a decentralized wikipedia by the co-founder of wikipedia), will be airdropping their tokens.

Which means there is no ICO. They are airdropping everipedia’s IQ tokens to the EOS distribution list instead. All of them. And this sets a precedent: it was announced they are the first but definitely not the only dapp who does this on EOS.

Okay, cool. But, like, many of you, I was up late refreshing blockfolio with simian paws and grunting “When Apple?” “When Moon?”

Took a little while to sink in. And I think a lot of people don’t understand just what happened. EOS just debuted a completely new and innovative economic model that goes beyond the crowdsourcing of ICOs on ethereum. And unlike ethereum, this model ensures that the value added by ICOs on top of EOS is not tangential, but will rather accrue directly to the EOS token holders.

How does this work? Basically, new EOS tokens are released every day during the ongoing token distribution sale. This is economically similar to mining (like PoW with bitcoin and ethereum), except we just contribute to a smart contract and get our EOS tokens. This means that no whale can buy up all the EOS tokens, since any attempt to buy them all up will result in rising prices. This year-long process has essentially lead to the GOAT of all distributions: a fair distribution full of highly-motivated and tech-savvy individuals who are likely to secure the chain via good voting when it goes live. It has also generated above a billion dollars in revenue for B1.

Basically, what was announced is that B1 will take that money from “mining” and act like a VC for the EOS ecosystem. The standard route for EOS projects will be to not launch their own ICOs, but will rather receive funding directly via B1’s EOS VC fund (say, 50 million), and then airdrop their tokens directly in a 1 to 1 manner to EOS holders.

Just be clear, this means that if you are the 2000th largest holder for EOS tokens, you will be the 2000th largest holder for IQ tokens, and then X, Y, and Z tokens as well. This is like if ETH holders received not some piddling amount of OMG as a marketing move, but literally consumed the entire value of the OMG chain. EOS holders will not just indirectly benefit from their chain being successful, but will directly benefit from it via a linear summation of wealth. Holding EOS tokens now means the value of every EOS token is [EOS + IQ + X + Y …] for every project airdropped this way, which it is now looking like will be a significant amount.

Wait, but how can this EOS VC fund get any return for their billions of dollars of funding projects? B1’s not a non-profit. How are the incentives aligned? They’re always aligned! B1 holds 10% of all EOS tokens, and will be airdropped 10% of each project! The circle is complete!

We’ve never seen a distribution so primed to absorb wealth. This may be the greatest long-term investment of all time.

This is a gamechanger if EOS reaches the scale they intend to reach.

 

[CPisHere]

That was the same argument I was making 6-12 months ago (here in this forum). I've since changed my thinking...

You have to recognize that when you buy a coin, you're not buying equity. This is the same problem with every company that creates a non-utility coin (or in Ripple's case, a platform that doesn't require the coin). So far, investors haven't responded negatively to that fact. Will it change? Possibly.

But, you also have the fact that none of Ripple's customers have created or used a coin on top of the platform other than XRP. While it could happen, the likelihood isn't great at this point.

None of Ripple's customers are EVER likely to use a coin, in my opinion. That's why I call XRP garbage.

At some point, companies such as Ripple are going to screw over coin holders by flooding the market with additional supply, and then investors WILL respond negatively. I think we are at least a year away from that happening - as you seem to also recognize in your other comment, and when it happens even the great coins are likely to suffer.

 

[MitchM]

I'm personally not willing to put any of my money outside of my business right now - but my father is interested in investing in some cryptocurrency. Any advice on how to play it safe with a good bit of money? I was thinking he should buy some Bitcoin and Ether and then go in pretty heavy on one that is growing as well. Thoughts?

 

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[steelandchrome]

Enjoying a well deserved vacation in Cancun and all my coins are in the green

Sent from my SM-G935V using Tapatalk

 

[CPisHere]

To do that, they'd have to mint new coins, as their existing supply is escrowed with very detailed escrow instructions that would prevent them from flooding the market.

If the concern is minting new coins, then this is a concern with about 70% of companies out there -- of of those that aren't mining...

Yes. It will only take one of them to take advantage for the market to punish all of them.

 

[IGP]

Glad to see this thread... I invested a good amount into Bitcoin when it was about 300. Took some nice profits and have been sitting on the rest. I also own some ETH and LTC and got a good bit of BCH when Coinbase decided to support the hard fork.

I am a novice when it comes to ICO's and other ALT coins though, my goal is to take my BTC profits and diversifying ASAP.

What is the easiest way to exchange BTC for other coins without having to sell it and pay transaction fees?

 

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[IGP]

Most alt coins can be purchased directly using BTC or ETH on any of the major exchanges.

Thanks @JScott - any recommendations on an exchange that doesn't take weeks to verify your account these days? Signed up for bitstamp to buy XRP like 3 weeks ago and still waiting verification.

 

[IGP]

I hear that Binance is open again to new customers, but I don't know what the current timeline is for getting verified...

Yep, i'm in. Already transferred some BTC over. Thanks!

 

[James Fake]

So between now and the next 24 hours will be the absolute bottom of this annual cleansing. Have a look at every other January..

If you wanted in; get your cash in and loaded into an exchange to pull the trigger.

If you plan to hold long once you get in, it would be okay to buy now although we are near the bottom but not absolute (but close enough imo).

If you are stuck in a coin; just hold, it will clear up here in within the next 2 weeks.

Bitcoin will most likely touch $10.5k at the least. Very likely the bottom wick of the candle reaching even lower if you're risky in trying to catch the BOTTOM lol.

Good luck!

EDIT: Also; my advice would be to only buy "blue chip" crypto at this time. Bitcoin, Eth, Ripple.

INSIDERS's Special
- - - - - - - - - -
If you want to be more risky than to stick to the Bigs during the recovery period: NEO, ICX, XLM, EOS.

Sleeper Coins: IOTA, Dash, Monero, ADA.

Speculative with the most upside: Verge for Q2.

Stay away from: TRX lol.

 

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[jimmeboy]

So between now and the next 24 hours will be the absolute bottom of this annual cleansing. Have a look at every other January..

Love your crypto posts @James Fend Big thanks for the value you're bringing in this space!

Any thoughts on the talks from South Korean/Asia actually impacting prices further, rather than this being an 'annual cleansing'?

 

[James Fake]

Meh.. I think this for some reason just happens every season. For whatever reason or FUD we can try to tie the reasoning too. I think it just has to do with the new year, maybe people pulling money out now to avoid 2016 taxes, paying taxes, gifts for Asia New Years, etc. etc.

 

[ddzc]

I've been really keeping an eye out on ICX. I feel this is a good pump and dump coin. It's been going up and down from $7-$12 on the daily for a bit of time now. I want to pump some cash in to it right now and then sell when it hits $12+ again...

I'm thinking about loading up on eth also right now at below 1K (long hold).

 

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[jimmeboy]

Loaded up on ETH, BTC, LTC and XRP over the last couple of hours.

Was down 20% in the space of an hour, but it's clawed most of that back now.

Planning to hold over the next few weeks.

 

[ddzc]

Do some research on ICX and you might decide to hold it long past $12...

Yes, already have, I like it. I bought some a month back and I plan to hold that batch long term. I was just analyzing the major fluctuations with this coin going up and down recently, making it a good pump and dump also for quick day trading - imo.

 

[GPM]

These are some fire sale prices of some coins.

I had a list of some that I wanted to park a few dollars in for a while, ICX is definitely on that list. I have had one person I know closely IRL who has been heavily involved in the crypto space for a few years mention that one to me as well.

 

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[dmichaelmccann]

Thanks for all this great info and advice guys. I just bought my first coins over the last few days during the dip. Only some ETH, BTC, and LTC through coinbase for now but I'm looking to buy some more once I get verified on an exchange.

 

[jpmartin]

Meh.. I think this for some reason just happens every season. For whatever reason or FUD we can try to tie the reasoning too. I think it just has to do with the new year, maybe people pulling money out now to avoid 2016 taxes, paying taxes, gifts for Asia New Years, etc. etc.

That and also because generally people are clearing up their accounts after a year. In BTC, there's been a lull in Jan before taking off. I had a chart to show that, but will have to dig it up again.