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Cryptocurrency |OT| Nothing from Money
- Thread starter Brandson
- Start date
NiiloPielinen
Member
https://tokensale.tierion.com/
These guys seem to have already a working product with big name customers. What do you think?
These guys seem to have already a working product with big name customers. What do you think?
I know nothing about cryptocurrency so I thought I'd ask in here. An uncle of mine who's fairly well off is looking to invest a few thousand after being informed of the boom by friends, but since we're both clueless I have no idea if what they're telling him to invest in is bullshit or what. What coins would you guys recommend? He's retired already and he's looking to invest £5-10k, and if it goes tits up then it won't really impact him that much which is why he's fine with taking a risk.
I like that their ICO has a cap and if Microsoft likes their product, it must have some legitimate application
I don't know anything about this one, but a brief read of their white paper has this sentence in it, in bold: "End users do not require a token to access network services and resources." So they clearly want everyone to understand that detail clearly. Whether that makes it a better or worse investment is up to each individual investor to decide.
Nothing sure shot safe to invest 5-10k atm i think. Especially not without reading a bit into the material. ETH is/was somehow hailed as Bitcoin successor, but recent weeks have shaken things up a bit. Read at least the last 4-5 pages here. Good advise fron Brandson, walking fiend and other regulars here.
Quite a good read here to help give some perspective on crypto and some players: https://www.forbes.com/sites/laurashin/2017/07/10/the-emperors-new-coins/amp/
Rollo Tomasi
Member
How about $214?
walking fiend
Member
It mean's you should had sold some time ago and you should have been out of the market already. You never know when it will bounce back. Right now LTC is at $45 which is a good price to exit the market, even if you bought at a high of $50.
Edit: The market might bounce back, but it just might not; it is best to wait until a clear trend emerges and then re-enter the market. LTC still has a daily positive momentum, so it in a better position than ether, but it might change very soon.
Stop giving all these scams your money!
NO ICO has deserved even $100K so far. They have offered 'nothing' in return
This is from the LinkedIn of the founder of that tierion coin:
Essentially, this guys specialization is mass marketing. Now you want to trust him with your money?
I agree. This should be the default position for all ICOs.
The general sentiment is that all altcoins are presently heavily overvalued, even the good projects, and I would agree. A strategy that consists of getting out of all altcoins for a few weeks/months, is not necessarily a bad one.
Fuck altcoins... ohh did you see that shiny ICO over there? Some google guy is involved *buying BTC on coinbase asap*
It's fascinating and exciting. Then again i'm not involved with 5k+ like some others and already cashed in on my initial 1000 € investment (thanks to ANS). Rest is for the lucky shot at a lambo in a couple of years
Wow, thanks for that heads up. I didn't read into any of their profiles. Definitely need to learn to read more into these people instead of just what they're pitching
I'm currently modelling my own trading bot for ETH for this apparent bear market. It would have done well over the last few weeks at least. I'm going to make trades on paper for a few days with a theoretical 1ETH strictly following it to see how it turns out. Results will be posted on Friday. At the very least this will be entertaining.
walking fiend
Member
No, it is not a weekend dip. The downward trend has been going on for almost 3 weeks already, and there is no signal that it is slowing down. Look at the CCI chart (it is the buy/sell momentum; below 0 means pressure to sell and above it means to buy), and notice that there are 3 local minimums which coincide with the local minimums in the price? If the lows in the CCI were increasing each time, that is if the 2nd low was higher than the 1st low, or the 3rd low higher than the 2nd low, it could be a sign that although the actual price is dropping even further each time, it is a trend that will be reversed soon. Right now though, both CCI lows and actual price lows are decreasing in tandem, which means that there isn't a buy signal yet [it might bounce back, but statistically speaking, it is more likely to drop even furuther]
Aztechnology
Member
I'm glad I put just a little money into hardware and recouped most or it already. Now will be waiting for bottom out and picking up scraps from whatever looks promising long term. I'm still frustrated about my Siacoin order that I had cancelled being filled. But it's such a small amount it doesn't matter that much. Mining isn't going to be as straight profitable anymore which is probably a good thing. Maybe I can get some reasonably priced hardware without waiting months for orders to fill.
lol woke up today and saw it. Fucking nuts.
walking fiend
Member
My take on LTC:
There were 3 local minimums from around 8:00 till 12:00, and each time the price low was becoming lower, but the CCI low was getting higher, and it was following by a small reversal. But on a longer time span, there are two local minimums at 8:00 today and 19:00 yesterday, where CCI and price lows were moving almost in tandem -> there is no entry yet (the local highs in CCI were also getting lower, which is in tandem with the price, confirming the overall downward trend)
That being said, I think LTC is in a better position compared to Ether because it has volume supports at $45 (which it has not exhausted yet), and at $30, before its final support at $10. Ether really doesn't have any volume support until it hits $90.
Edit: I think everyone already knows, but the cryptocurrency market is a 0 sum game, which means, in the end, some people WILL lose money, as there is no real added value to their investments and for some people to have some profit, some people have to lose money.
Edit 2: Dash, and XMR also have good supports. Dash has a major support at $180 and its highest trading volume is at $140 and XMR has its highest trading volume at $20. Steer away from IOTA and EOS; specially IOTA. \\
There were 3 local minimums from around 8:00 till 12:00, and each time the price low was becoming lower, but the CCI low was getting higher, and it was following by a small reversal. But on a longer time span, there are two local minimums at 8:00 today and 19:00 yesterday, where CCI and price lows were moving almost in tandem -> there is no entry yet (the local highs in CCI were also getting lower, which is in tandem with the price, confirming the overall downward trend)
That being said, I think LTC is in a better position compared to Ether because it has volume supports at $45 (which it has not exhausted yet), and at $30, before its final support at $10. Ether really doesn't have any volume support until it hits $90.
Edit: I think everyone already knows, but the cryptocurrency market is a 0 sum game, which means, in the end, some people WILL lose money, as there is no real added value to their investments and for some people to have some profit, some people have to lose money.
Edit 2: Dash, and XMR also have good supports. Dash has a major support at $180 and its highest trading volume is at $140 and XMR has its highest trading volume at $20. Steer away from IOTA and EOS; specially IOTA. \\
CaptainZombie
Member
I sold off whatever I had left of my Stratis. I feel like it is a good coin, but the community and development are just at a weird place imo. I moved what I had in Stratis to ANS/NEO which I have high hopes for in the long term. It doesn't seem like ANS has been as badly affected by this latest dip in the alt market unlike a few weeks ago where I picked up a bunch around $5.
Eth still has me a bit worried, I don't have a ton invested, but enough that I'd hate to see dips back down in the 100's.
Reddit has deduced why so much EOS is getting purchased, and traded on Chinese exchanges, and it reads sort of like a Chinese pyramid scheme of ICOs: https://www.reddit.com/r/CryptoCurrency/comments/6ma3a4/the_tandem_ico_scheme_thats_making_chinese_buy/
From the reddit post:
From the reddit post:
DonMigs85
Member
I think Siacoin still has long-term potential, it may hit $1-2 in a few years.
DonMigs85
Member
Wonder if this could drive EOS up to $5 eventually. It seems even more scammy than Tezos though
Ok thanks for the tip. Any reasons why you feel that Siacoin specficially has the potential to hit that target in a few years? And your thoughts on ripple?
DonMigs85
Member
Ripple is mostly used by banks so it can't be too volatile. The coin likely won't increase hugely in value. Sia is also launching an ASIC miner sometime next year so that could drive its price up
187 now. Lol.
BTC also down big time.
I sold all of my crypto last week. We haven't seen the end of this crash. Might buy back in when we go under 100.
Nicely done. ETH just bounced but I am not at all convinced by it.
Siacoin has a product that makes sense and their team is very communicative, which is refreshing in and of itself. The product is basically a service that allows you (or anyone) to rent out partitions of your hard drive to users looking for storage. Basically, you say "I have 2 TB, I am not going to use the last 500gb, so I'll partition it off for rental." Boom, you start getting paid. For doing nothing. SC is extremely undervalued right now, even as the rest of the cryptocurrencies bleed out heavily. SC lost close to 2/3 of its value, right now if you put in $10 and it ever reaches a dollar, you've got like $1,400. It's also super easy to mine, so you could spend $0 on it and still sit on what you mine until it reaches $1 or $2 or whatever.
Overall, the market is continuing its freefall at near terminal velocity today... I went deep discount shopping, got me some sweet, sweet ether. I believe in Vitalik and his vision, so I'm highly confident that ETH will rule the crypto world in relatively short order.
walking fiend
Member
I am not sure if the market will go down even more or not, but in case you see the signs, you can make money by margin selling the coins; I know bitfinex lets you do that. Essentially how it works is that you borrow some coins, say 1 Eth, and then sell that coin at the current market price, say $205, so you'll have $205. Then you wait until price of Eth drops down, say to $150, then buy 1 Eth at $150, and return that Eth. You'll make $55 this way. You'll be paying some interest, say 0.1% Eth per day, but in a market diving this quickly, the interest is negligible.
Don't worry. We'll see 180 again probably in a day or less. This is the same pattern it's followed for a month, massive crash followed a proportionate deadcat bounce and then a gradual fall off to the point it crashed at over 24-48 hours.
This time it went from like 220 to 180 in a day, bounced back big time and is now at 212 and falling.
You will likely get another chance this week if you want to buy. I don't think Tezos has even started to sell off yet. Just like usd$240 looks good today in retrospect, usd$210 is going to look pretty good shortly too.
CaptainZombie
Member
I just sold my Eth, made a small profit considering what I bought it for in May. I am hoping that it does drop in the 100's to buy back in. I see a dead cat bounce occurring here which made me decide to jump out for the time being. Who knows we wake up tomorrow and its back up to $260-270.
My prediction for tomorrow is hovering around the $195-$200 range until another big sell order pushes it down again.
Probably - I was only trying to buy here as a short term trade as I figured a bounce would be likely. If it falls back to the 180s again, I'll probably set my buy lower.
Don't think we've seen a trend shift yet, thinking we won't until the lower $100s.
As far as adding to my long term position, I'm looking to buy at around 120. I think we could drop as low as 80, looking at how previous Bitcoin crashes went (around -80% from the peak)
CaptainZombie
Member
It will be interesting to see how tomorrow goes. Bitcoin has dropped yet again which means there isn't enough support at these respective levels.
Are there any upcoming ICOs? I've been reading that some ICOs are also cashing out right now and others are not done yet either which may help further drive this down.
That sounds about right to me too.
There's that Chinese ICO talked about in the Reddit link I posted here earlier today. Mark Cuban is lanching an ICO for something. EOS is the ICO that never ends. And I'm sure there are many more to come. It's too bad ETH has to suffer for them to get funding. I wonder if Ethereum should consider creating a new ERC20 token just for use in funding ICOs, because the current state is a bit ridiculous.
The more unknowable question is how long it takes to get back up to 300 or 400, if it ever does.
My feeling is probably next Spring for $400+, but that isn't based on anything really.
Unknown Soldier
Member
It's sad to see what happened to ETH, but I'm out at this point while I'm still in positive territory. If I had known then what I know now I would have sold it when I had double the money I put in. I'm walking away with a meager profit but hey it's not a loss so whatever, cheap thrills for the nearly 2 months I was in ETH and a small positive balance.
Let's see where the bottom is on this thing.
Let's see where the bottom is on this thing.
CaptainZombie
Member
Thanks Brandson! It is a shame that eth is tied to these ICOs, because the fate of it just hangs in the balance on these stupid ICOs.
Well that didn't take long.