m_shortpants
Member
...and down it goes
-
Hey, guest user. Hope you're enjoying NeoGAF! Have you considered registering for an account? Come join us and add your take to the daily discourse.
Cryptocurrency |OT| Nothing from Money
- Thread starter Brandson
- Start date
Not sure. I do however believe the suppression on alts will last until fork for sure. BTC will probably fluctuate.
Im swing trading like crazy because Im stuck in alts. I had all of my portfolio spread to about 10 alts and when I missed a day I came back and everything was red. So Im stuck in them for the ride, but Im still managing to profit by swinging in and out.
Little less than 3 hours ago ARK hit $2.88 a coin, I sold 268 of them; then just rebought at $2.62 and now I have about 21 more ARK than before after fees for the exact same money (I got hosed a bit because BTC value dropped in the hours I waited, I could have made more...).
It's not as profitable or anywhere near as fun as the lucky bastards with a portfolio full of BTC right now; but we gotta bottom feed man. We have no choice
Learned this the hard way again.
Yeah pretty sure that's how i would end up too.
Everytime one of my coins went up nicely and then suddenly takes a big dip again i think like damn i could have increased the size of my stack! But that's just hindsight being 20/20.
No confidence at all that I could actually pull it off.
I'm pretty much the same as you but went the opposite way. Had 15 altcoins but got fomo so switched to btc with a significant cut due to fees ugh. then I realized that whatever gains I will make in btc will be nothing compared to losing out on my alts so I switched back to alts. Concentrating on chainlink for half of it and hoping that it moons lol.Not sure. I do however believe the suppression on alts will last until fork for sure. BTC will probably fluctuate.
Im swing trading like crazy because Im stuck in alts. I had all of my portfolio spread to about 10 alts and when I missed a day I came back and everything was red. So Im stuck in them for the ride, but Im still managing to profit by swinging in and out.
Little less than 3 hours ago ARK hit $2.88 a coin, I sold 268 of them; then just rebought at $2.62 and now I have about 21 more ARK than before after fees for the exact same money (I got hosed a bit because BTC value dropped in the hours I waited, I could have made more...).
It's not as profitable or anywhere near as fun as the lucky bastards with a portfolio full of BTC right now; but we gotta bottom feed man. We have no choice
Borboleta Amarela
Member
My advice is to forget about bitcoin and jump into altcoins. If you want to make money, only investing in BTC is not gonna net you that much if you only invest a couple grand.
What you should do is buy BTC, LTC or ETH to buy other altcoins (much cheaper than BTC) where the potential to multiply your investment is much greater. After you have a nice amount you can convert back to BTC and just let it rest. I believe after 100k, it becomes worthwhile to be only holding bitcoin.
Interesting. I would be tempted to use £1k at the beginning in these but is that even worth it for some decent short-term gains? I suppose I would rather do that than play the lottery or something.
Triple Oceans
Member
My apologies for my ignorance, but what do you mean that Bitcoin is only worthwhile to be holding after 100k?
Will say this to the advice above; think about how long you feel comfortable with holding an investment. Also consider the transfer fees and make sure when you buy and move, you make profit off your purchase ABOVE the fees so you don't start out negative.
Example: Buy $LTC on Coinbase for $20 bucks
$20 bucks + CoinBase Fees are 20.00 + 1.49 = total 21.49.
Transfer to an exchange (like Bittrex) will cost you $.20 .
So you're getting 18.51 in $LTC less $.20, $18.31 sent to the exchange.
If possible, wait for $LTC to climb above at least $1.00 of where it was so your total pool is $19.31 or higher.
Look at the hardware and software wallets out there and choose coins in or around the top 50 that support said hardware/software wallets. If you want to roll the dice, look at coins that may be new, small market cap (less than $100 million coins total) and are below $0.01 per coin. BE CAREFUL! There have been a TON of shit coins in the past few weeks that have folded after they basically used capital raised by coin sales to buy $BTC and cash out. Read, read, read and read.... Reddit, Slack, GAF, websites, etc before you invest. Again, make sure you can live without that money should it go away.
Example: Buy $LTC on Coinbase for $20 bucks
$20 bucks + CoinBase Fees are 20.00 + 1.49 = total 21.49.
Transfer to an exchange (like Bittrex) will cost you $.20 .
So you're getting 18.51 in $LTC less $.20, $18.31 sent to the exchange.
If possible, wait for $LTC to climb above at least $1.00 of where it was so your total pool is $19.31 or higher.
Look at the hardware and software wallets out there and choose coins in or around the top 50 that support said hardware/software wallets. If you want to roll the dice, look at coins that may be new, small market cap (less than $100 million coins total) and are below $0.01 per coin. BE CAREFUL! There have been a TON of shit coins in the past few weeks that have folded after they basically used capital raised by coin sales to buy $BTC and cash out. Read, read, read and read.... Reddit, Slack, GAF, websites, etc before you invest. Again, make sure you can live without that money should it go away.
I started with 250 2 months ago, I have 325 now. (could have even more because I tried some day trades... should have at least 10% more if I just have kept things untouched). Invested only on BTC, ETH and XRP. I have BTC (2/3) and ETH (1/3) now. Not touching it anytime soon.
Sorry, you started with £250 and have around £325 now?
Where d'you buy them?
Sorry for newbie questions :/
I started with 200€ a month ago aprox and now i am at 420€ invested. Small amount but followed the rule to play with something i could loose and not get mad at.
My gains right now are around 10€ lol (that is what blockfolio tells me) Consider that i have lost some € due to fees. I am here mid/long term but have been playing a bit.
I started with BTC ETH and LTC, then traded ETH and LTC for alts, mainly ark so i have 1/3BTC 1/3Ark and 1/3 small ammounts of altcoins (BAT NAV XRP) and a bit of LTC and ETH.
So i am happy i am still in black
First time i bought on coinbase , now i usually send money(€
to coinbase , transfer to GDAX and buy there BTC/LTC/ETH and if i want to buy altcoins i send those to Bittrex. Still have to learn more about fees , i think i have lost quite a bit there because i have not payed much attention unfortunately
My gains right now are around 10€ lol (that is what blockfolio tells me) Consider that i have lost some € due to fees. I am here mid/long term but have been playing a bit.
I started with BTC ETH and LTC, then traded ETH and LTC for alts, mainly ark so i have 1/3BTC 1/3Ark and 1/3 small ammounts of altcoins (BAT NAV XRP) and a bit of LTC and ETH.
So i am happy i am still in black
First time i bought on coinbase , now i usually send money(€
to coinbase , transfer to GDAX and buy there BTC/LTC/ETH and if i want to buy altcoins i send those to Bittrex. Still have to learn more about fees , i think i have lost quite a bit there because i have not payed much attention unfortunatelyCaptainZombie
Member
I think that Chainlink will get to $2-3 in the next few months and is worth getting into this coin considering that it is under $1.
Borboleta Amarela
Member
Because BTC is already so highly valued that for it to jump in price say 2x or 3x is doable but will take a lot more time than an altcoin valued at say 2$ for example. Of course not all altcoins will pump, you have to choose wisely.
The most recent example in price explosion was antshares (rebranded to NEO now). I was lucky to buy antshares really cheap (around 3/4$) and in august they spiked to 50$. That was a 10x in less than a month. It's very unlikely for BTC to pull a 10x so quickly.
So until you have a very solid amount of $$$, the returns you would be getting from a 10k investment in only BTC will pale in comparison to a more diversified portfolio. A more diversified portfolio implies more work tough.
criesofthepast
Member
I don't know what to do. I have FIAT. What looks good out there short term?
CaptainZombie
Member
BAT is taking a beating now down to $.16 ouch.
Triple Oceans
Member
That makes sense. Thanks for clarifiying.
This is why I don't have a lot in BTC. Just more potential elsewhere, given the already insane value of BTC.
fierrotlepou
Member
Any up and coming coins that no one knows about? It's good to dream, right?
Where would I buy some MONA coins? Is it too late?
Where would I buy some MONA coins? Is it too late?
Borboleta Amarela
Member
I'm into blakestar (BLAS). It's a total shitcoin. 50 sats. Will update to proof of stake on the 15th. Already pumped and dumped so made more than my investment back but still have a lot to play with. I think it's easy money come next week but put your sell orders before being left bag holding.
Is there another fork for ETH too?
https://www.coindesk.com/what-hard-fork-ethers-price-is-climbing-ahead-of-tech-upgrade/
Should also move eth to Exodus? Or is different from btc one?
https://www.coindesk.com/what-hard-fork-ethers-price-is-climbing-ahead-of-tech-upgrade/
Should also move eth to Exodus? Or is different from btc one?
If something is going batshit crazy, it's usually too late. That's my rule, born by experience. As soon as I buy, down it goes!
Thought of the day... how is Bitfinex consistently dominating the world's crypto exchanges for daily Bitcoin volume, when Bitfinex hasn't allowed any new fiat deposits since April? I think this is a reasonable question to be asking. Also, only crypto withdrawals are permitted from Bitfinex, not fiat. There appear to be a few possible explanations for Bitfinex's trading volume lead:
1) People all over the world, but not Americans because they aren't permitted to use the service, love Bitfinex so much that they wire fiat to a different exchange, transfer it to crypto, and send that crypto to Bitfinex to trade for USDT. And those users are fine with not being able to access their money without transferring it to another exchange. And there is enough people doing that to support $500 million daily trading volume, which is about $380 million more than GDAX, which does allow fiat deposits.
2) Bitcoin trading volume is almost entirely driven by margin provided by Bitfinex. I imagine that would have to be a huge amount of margin.
3) There is a significant amount of wash trading happening on Bitfinex, where large trades are made between two accounts controlled by the same entity or between two accounts in collusion with one another to wash trade, to give the appearance of high volume, thus driving market moves on other exchanges that follow Bitfinex's lead.
I hope there is a better explanation that I'm just not seeing. Can anyone think of one?
1) People all over the world, but not Americans because they aren't permitted to use the service, love Bitfinex so much that they wire fiat to a different exchange, transfer it to crypto, and send that crypto to Bitfinex to trade for USDT. And those users are fine with not being able to access their money without transferring it to another exchange. And there is enough people doing that to support $500 million daily trading volume, which is about $380 million more than GDAX, which does allow fiat deposits.
2) Bitcoin trading volume is almost entirely driven by margin provided by Bitfinex. I imagine that would have to be a huge amount of margin.
3) There is a significant amount of wash trading happening on Bitfinex, where large trades are made between two accounts controlled by the same entity or between two accounts in collusion with one another to wash trade, to give the appearance of high volume, thus driving market moves on other exchanges that follow Bitfinex's lead.
I hope there is a better explanation that I'm just not seeing. Can anyone think of one?
Domino Theory
Crystal Dynamics
Yeah the fork is Byzantium as part of their Metropolis upgrade. ETH is also moving to Proof-Of-Stake which is a nice bonus.
I don't know how Coinbase and others are handling the fork but I imagine owning ETH will give you that fork eventually.
TheDoldrums
Member
Funny, I made exactly a 10k investment in BTC back in March. Hloding has brought it to ~45k. Could I be up more if I correctly identified a few alts? Sure. But I guess I'm not confident enough in my prognostication skills to bet on which ones are about to moon and which are duds. God bless those of you that can pick them out. The little investments I have made in alts have mostly treaded water, so I'm glad I haven't gone very hard into any of them so far.
The one thing I'm most sure about in crypto is that the price of Bitcoin will rise. And I would encourage new investors to consider having at least some position in Bitcoin. People have been saying it's too pricey for awhile now and it keeps rising. There's a scarcity driving demand that the other coins don't have and it's only going to intensify over time.
You should move to exodus, its safer off of an exchange, and I move to wallets during forks as a rule. BUT. The ETH fork isn't like these BTC forks. There's not going to be two competing chains after the ETH fork.
No free money or anything like that. Much less drama.
Borboleta Amarela
Member
That was a good investment. As for me, I started in late July with around 3k and am now around 30k. I had a lot of luck but also put in a lot of time into this. It certainly was/is stressful.
Slayer-33
Liverpool-2
Got out in time but not early enough, BAT is an amazing project but investors are too greedy and aren't willing to hold on. Can't really blame them considering all the BS going on with this fork shit.
The crypto space is nuts, still got a lot to learn from this stuff.
Great investment and timing!
Investing that much now after the past few months of craziness is a different story.
Also, if you had invested in ETH instead of BTC you would be around $68k.
EmmaWatsonButt
Member
About time NEO picked up the pace
Triple Oceans
Member
Heres a post that Cipherr made a while back that was helpful to me.
http://m.neogaf.com/showpost.php?p=249613068
In addition, YouTube is a good place to start as a resource with getting questions answered about Cryptocurrency.
I was actually think of PM'ing Cipherr to get a guide together for new people since the world of Cyrpto is so intimidating.
Decentraland (MANA) just got added to Bittrex and... I wish I had some Mana I could deposit.
Some major trolling going on, up to 2 BTC now. Perhaps deposits aren't available yet.
e: some lucky person sold 0.00100381 mana for 1 BTC
You aren't serious are y...
The crypto marketplace is fucking nuts man
It's also selling at nearly 10 times of its actual valuation on Bittrex when compared to other exchangesYou aren't serious are y...
The crypto marketplace is fucking nuts man
If you haven't read my OP, start there. Next, read up more on what blockchains are, from anywhere you can. It can be a rather difficult concept to get your head around. I would say not that many people truly understand it.
Then consider getting yourself verified on a couple of exchanges, and then buy a small amount of Bitcoin or Ethereum to start. Perhaps experiment with trading miniscule amounts or transferring between your accounts on different exchanges to get a feel for it. For people who are skeptical of cryptocurrencies, usually seeing how efficient doing those few things, without needing a bank, changes their mindset pretty quickly.
All cryptocurrency values are extremely volatile because people are mainly speculating on future uses and adoption that everyone hopes or expects to happen. Coins other than BTC and ETH are even more risky. They could go up or down in price much faster. Only buy crypto that you have researched, understand how it works, what it is used for, and have determined whether the development team is competent enough to deliver on their roadmap. Buying crypto because someone is hyping it is extremely risky. No one ever hypes crypto to benefit you.
Do not be afraid to sell your crypto if it goes up in value by an incredible amount. It might go up more but most huge and fast increases in price are eventually followed by a retrace in price. Sometimes it will then go back up. Sometimes not.
With such a highly speculative asset, both highs and lows in prices get thoroughly explored and tested. If you are holding during an extensive retrace or correction it can be scary and depressing. The people who ultimately do well in crypto can stomach those movements or learn how to use them to their advantage. The people who do poorly, sell during the corrections and don't get back in until the price has already recovered.
For more advanced trading strategies, some people rely on something called technical analysis. I was skeptical of it at first but through practising it have come to appreciate that it is quite effective in crypto markets because so many other traders are trading using the same analysis. You can then learn when those traders are about to move the price and trade along with them.
For those who have ever wondered.... (I did...)
Link: https://blockgeeks.com/guides/what-is-ethereum-classic/
Link: https://blockgeeks.com/guides/what-is-ethereum-classic/
I don't think that NEO will be truly "unlocked" till China officially announces their further crypto plans/regulations.
My bet ia that it's going to take off if they aren't as strict as some expect. Gov just wants a big share of all that "decentralized" cash.