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 Crypto Currency

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Mohawk Ridge Marauders
 
 
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PostSubject: Re: Crypto Currency   Tue Jan 16, 2018 10:10 am

I'm trying not to check Laughing


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Kane County Goon Squad
 
 
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PostSubject: Re: Crypto Currency   Tue Jan 16, 2018 10:12 am

Minnesota Eternals wrote:
Southside Spartans wrote:
Ugh...just got a text from a friend that reminded me why I don't tell people what I'm buying or give money advice.  Not sure if he's joking or not but he seems pissed (I find people don't usually joke about money loss).  He bought in around New Years and bought some I owned from long ago and now he's down and sounds like panic sold some.  I don't remember ever telling him it was a good time to buy those or anything like that.  I specifically told him this is the Wild West and no one is really sure what's going to happen and only play with money you can lose without worry.  My mistake for answering his questions I guess.  Think I'll just ignore this text instead of making things worse.  Sigh

Because I'm a little off in the head tho a part of me wants to buy the coins he sold at this price and then send him a text in a few months showing profit.

You've made yourself very clear about that around here so I imagine you do the same elsewhere.  Rule fucking #1 is don't invest in something you don't understand so he has nobody to blame but himself if he is in fact giving you attitude.  Hopefully it was just him venting and not being THAT GUY.
agree


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Southside Spartans
 
 
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PostSubject: Re: Crypto Currency   Tue Jan 16, 2018 10:34 am

Well to figure out where my buddies head really is I responded with this earlier today:



He'll either laugh at it or he's THAT GUY.  He hasn't responded yet so we'll see.


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Nevada NightHawks
 
 
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PostSubject: Re: Crypto Currency   Tue Jan 16, 2018 12:04 pm

I'm with you Russ, this is like a night in the casino.  Justin & John have been nothing but helpful with answering all questions and helping me understand this crypto world.  Justin has been adamant about investing only what you can afford to lose.  My wife and I were talking last night as I was explaining how I came in when the ETH was pushing $1400 and last night it was was hitting the $1100's.  She wanted to know if now was the time to buy more?  I was thinking $1000 would be the magic number.  Didn't pull the trigger last night, but here we are at $1000 again this morning.  shrug


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Mohawk Ridge Marauders
 
 
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PostSubject: Re: Crypto Currency   Tue Jan 16, 2018 12:20 pm

There's nothing harder to do than timing the tops & bottoms in the market. That's why they always say time in the market > timing in the market. I'm holding strong to my investments. No plan on selling here.


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Bergen Brawlers
 
 
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PostSubject: Re: Crypto Currency   Tue Jan 16, 2018 12:24 pm

BTC about to dip below 11,000 ... wait here for a minute




LEROY JENKINS!


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Minnesota Eternals
 
 
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PostSubject: Re: Crypto Currency   Tue Jan 16, 2018 1:10 pm

Southside Spartans wrote:
Well to figure out where my buddies head really is I responded with this earlier today:



He'll either laugh at it or he's THAT GUY.  He hasn't responded yet so we'll see.

lol 2

Here is me...



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Carolina Silverbacks
 
 
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PostSubject: Re: Crypto Currency   Tue Jan 16, 2018 2:36 pm

Sorry your having that talk with your friend John. It's been loud and clear about not investing more than you can afford to lose. It's easy for me as i'm not in very deep but I'm looking into the long term so just doing my best to watch and learn. It's not even been 2 weeks for me so I'm not panicking. I really do appreciate all the advice and love checking into this topic daily.


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North Carolina Cobras
 
 
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PostSubject: Re: Crypto Currency   Tue Jan 16, 2018 2:52 pm

This has peeked my interest. I signed up wiyh coinbase (under your link Justin) but have decided to first set up a sepate bank account later this week so my big account isnt linked to this volatile market. Will bee keeping (pun intended) an eye on this thread.


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Southside Spartans
 
 
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PostSubject: Re: Crypto Currency   Tue Jan 16, 2018 3:00 pm

No way I'm selling into this market. If anything I'll be a buyer in coins I believe in. Have a few things I'm watching closely and may buy more later today. These dips are what create the wealth, not the fomo reactions. My buddy (the smart one) is pushing me to increase stake in BTC if it can bounce off resistance. Nothing solid yet so still waiting. Was a lot easier buying BTC 10 months ago. LOL


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Nevada NightHawks
 
 
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PostSubject: Re: Crypto Currency   Tue Jan 16, 2018 3:34 pm

Carolina Silverbacks wrote:
Sorry your having that talk with your friend John.  It's been loud and clear about not investing more than you can afford to lose.  It's easy for me as i'm not in very deep but I'm looking into the long term so just doing my best to watch and learn.  It's not even been 2 weeks for me so I'm not panicking.  I really do appreciate all the advice and love checking into this topic daily.

This is me exactly.  I love learning about something new and why not put a little skin in the game too?  I've had the ETH ticker running all day.  I thought $1000 was where I should jump in, but now it dipping closer to $900. 

I mean, the technology is there so I don't think that's going away anytime soon.


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Bergen Brawlers
 
 
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PostSubject: Re: Crypto Currency   Tue Jan 16, 2018 3:44 pm

I'm not sure where it was but I remember Justin talking about valuing your portfolio based on bitcoin (or satoshis) because you should just hold bitcoin if you don't outperform it.

Rumor has it that Andy and Greg both took your advice and kept $500 in USDT (it's been around for a while).  Just 10 days ago they had 0.03 BTC.  Now, with some shrewd maneuvering, they now have 0.05 BTC!


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Oaktown Malosos
 
 
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PostSubject: Re: Crypto Currency   Tue Jan 16, 2018 4:00 pm

Nevada NightHawks wrote:


This is me exactly.  I love learning about something new and why not put a little skin in the game too?  I've had the ETH ticker running all day.  I thought $1000 was where I should jump in, but now it dipping closer to $900. 

I mean, the technology is there so I don't think that's going away anytime soon.

With you on ETH...have a limit order set at 807 (which is a retrace of Justin's NOV quote)...if it hits great; if not, probably won't chase it up.  Also, BTC looks good to me at the $8,500-$9,000 level;  KCS dropping to tempting levels as well...hell, almost everything is dropping into reasonable price points, and crossing key numbers; but it's all too new to me to go in big like I would with Stocks.  

I may switch to more of a "day-trading" mentality when/if these start to recover.  


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Mohawk Ridge Marauders
 
 
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PostSubject: Re: Crypto Currency   Tue Jan 16, 2018 4:22 pm

Same Tom. I'm waiting for $8,000ish BTC to buy more. If it doesn't hit that and rebounds, great, if it does hit that then I get cheaper BTC.

Sounds good to me.


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Southside Spartans
 
 
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PostSubject: Re: Crypto Currency   Wed Jan 17, 2018 2:11 pm

One story for why the markets have tanked peaked my interest and it may have some legs to it so figure I'd share it here since still waiting on buy signals. There is no real story that drove the market down, the charts weren't unanimously screaming sell or short me, and while profit taking was expected and drops happen these last few days have been bigger than most anyone expected except the super bears. Here's the theory bouncing around today:

Theory is this drop is based on the BTC future contracts expiring. This is the first time this happened and this market can be manipulated so kinda makes sense the institutional money could possibly make this happen. Who knows

-Futures contracts went online a few months ago and higher than expected shorts (Wall St money?)
-Over next few months they slowly accumulate BTC causing price to rise and media interest goes through the roof (and we know Wall St and the media can be in bed together). Even some of the bigwig bankers that originally said crypto was junk changed their tune publicly and said may have spoke incorrectly
-Over the last week way more than usual FUD news hits all the major news companies (S. Korea banning, regulations especially in China and Japan, etc...). Again media and Wall St. marriage?
-Institutional money sells off huge amounts of BTC at once
- Weak hands/ crypto noobs with weak hands sell off crypto in mass accelerating price drop and extending it
- January contracts expire today (Wednesday) and big money shorts make a killing

So yes it has some conspiracy elements to it but makes sense to me and these big banks are smart and knew they could manipulate this market. Hell market manipulation has 100% gone in several alt coins so why not on a bigger scale?


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Southside Spartans
 
 
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PostSubject: Re: Crypto Currency   Wed Jan 17, 2018 2:21 pm

Did a little looking also and here are some other things with this theory that have me wondering...

Futures started trading on CBOE on 12/10/17 at $15,000 and is linked to the Gemini Exchange

Contract ends today - BTC price ~$10,500ish for about 30%

I looked at chart and don't see anything crazy with volumes that would indicate this theory but I'm bored and wanted to spread the latest reason for the bloodbath. Good conspiracy theory is always fun right...

New contracts open on 1/22 so we'll see if market starts rising again (maybe they'll go long this time and it goes to the moon after it hits 8-8500).


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Southside Spartans
 
 
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PostSubject: Re: Crypto Currency   Wed Jan 17, 2018 2:59 pm

On a more serious note few things triggering this afternoon so cautiously adding to some positions. Will hopefully be buying more next few days. Being very cautious still tho and keeping stops on these new positions.


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Bergen Brawlers
 
 
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PostSubject: Re: Crypto Currency   Wed Jan 17, 2018 3:13 pm

I wouldn't put it past the Wall Street crowd to do something like that. And, TBH, I'd be disappointed in them if they didn't try it. But it looks like this thing might be turning -- at least temporarily -- so let's get ready for the ride!



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Mohawk Ridge Marauders
 
 
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PostSubject: Re: Crypto Currency   Wed Jan 17, 2018 7:46 pm

The Ponzi known as Bitconnect blew up today. Glad to see that fucking dead.


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Nevada NightHawks
 
 
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PostSubject: Re: Crypto Currency   Wed Jan 17, 2018 11:18 pm

Mohawk Ridge Marauders wrote:
The Ponzi known as Bitconnect blew up today.  Glad to see that fucking dead.


I don't know what that was but it was at about $430 a couple of weeks ago and now it's below $30.  surprised


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Bergen Brawlers
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 18, 2018 8:06 am

It's not often that I find something helpful on reddit but I saw this recently and it sounds like some good advice.

https://www.reddit.com/r/CryptoCurrency/comments/7r4vlc/why_we_wont_have_a_long_term_bear_market_and_how/?st=jckkibai&sh=47fee342

Some random redditor wrote:
With so much uncertainty right now it would be a good time to take some time to go over what happened recently and how to invest moving foward. We've seen a peak bubble at around 850 billion total market cap in the first week of January, consolidated down to $750 billion and have now just experienced a 40% correction.

What's happening now and how bad will it get?
First of all you should realize that there is a January Dip that happens every year, when we see a roughly 20-30% decline around mid January. This year its been much more severe though for several additional factors that have compounded on top.

Different theories exist on why this happens (its actually the mirror opposite of the "January Effect" that happens in the US stock market), but the two major theories are:

1) Asian markets pull into fiat because of Asian New Year spending needs

2) People in the US sell in January to defer their capital gains tax liability an extra year

While this cyclic event has lead to a healthy correction in the last few years, this year we got these new factors making more fear as well:

Yet more scary news on China cracking down on crypto exchanges

Korea regulatory uncertainty

European governments talking about regulations

BTC futures contracts are now expiring this week, and possible manipulation there with contract hedging pushing the price down

Bitconnect Ponzi finally collapses

We had a new breed of speculators come in during the November/December timeframe after media made cryptocurrency mainstream following the Bitcoin 10K landmark. While cryptocurrency markets have always had too much hype, the latest rise wasn't just over-enthusiasm in fundamentally sound cryptocurrencies like Monero and Ethereum, but mass inflows of fiat into vaporware and complete nonsense without any use case. Many people came in to essentially gamble on symbols on an exchange, and are thus short term oriented and quick to sell on any slight downturn, which such further adds to selling pressure.

So in essence we got a storm of scary news along with the usual cyclic downturn. Currently I don't see this as being a systematic crash like Mt.Gox was that would lead to a long term bear market because the fundamental ecosystem is still intact, and I suspect that after about a month we should consolidate around a new low. All the exchanges are still operational and liquid, and there is no breakdown in trust nor uncertainty whether you'll be able to cash out. What range the market trades in will all depend how Bitcoin does, right now we've already broken below 10K but I'm seeing a lot of support at around $8000, which is roughly where the long term MA curve settles. I don't expect us going below that support line anytime soon without any systematic breakdown. The fact we got closer to it is actually quite healthy in the long term because it is a valuation that can be logically justified using the cost factors of the mining network. In addition when I run a regression on the price history before the crazy Nov/December bull run, the first Fibonacci level seems to be just around $8000. So I think we should consistantly move above that support level, possibly with a few weeks of fluctuations between the $9-$13K range.

What should you do if you recently entered the market?

If you did buy in the last few months at or near ATH, the very worst thing you can do now is sell in panic and lose your principal. You shouldn't have more money in crypto than you can afford to lose, so it shouldn't be a problem to wait a few months. You have to realize that 30% corrections in crypto are relatively common, just last fall we had a 40% flash correction over more China fears. Unless there is a systematic breakdown like we had during Mt.Gox, the market always recovers.

The other worst thing you can do is unload into Tether as your safety net. If there is one thing that could actually cause a long term destruction of trust within the cryptocurrency investment ecosystem, its Tether having a run up on their liabilities and not having enough reserve to cover the leverage. It would not only bring down exchanges but lead to years of litigation and endless media headlines that will scare off everybody from putting fiat in. I don't know when the next Mt.Gox meltdown will occur but I can almost guarantee it will involve Tether. So stay away from it.

What should long term investors do?

For long term holders a good strategy to follow each year is to capture profit each December and swallow the capital gains taxation liability, park a reserve of fiat at Gemini (whose US dollar deposits are FDIC-insured) and simply wait till around late January to early February to re-enter the market at a discount and hold all year until next December. You can keep a small amount in core coins in order to trade around various Q1 opportunities you anticipate. Others may choose to simply do nothing and just keep holding throughout January which is also a perfectly fine strategy. The cyclical correction usually stabilizes toward late January and early February, then we see a rise in March and generally are recovered by end of April. Obviously this decision whether to sell in December to profit on the dip and pay tax liability or to just hold will depend on your individual tax situation. Do your own math sometime in November and follow suit.

How to construct your portfolio going forward
Rather than seeing the correction as a disaster see it as a time to start fresh. If you have been FOMO-ing into bad cryptos and losing money now is a time to start a systematic long term approach to investing rather than gambling.

Follow a methodology for evaluating each cryptocurrency

Memes and lambo dreams are fun and all, but I know many of you are investing thousands of dollars into crypto, so its worth it to put some organized thought into it as well. I can't stress enough how important it is to try and logically contruct your investment decisions. If you follow a set methodology, a checklist and template you will be able to do relative comparisons between cryptocurrencies, to force yourself to consider the negatives and alternative scenarios and also sleep comfortably knowing you have a sound basis for your investment decisions (even if they turn out to be wrong).

There is no ideal or "correct" methodology but I can outline mine:

1) Initial information gathering and filtering

Once I identify something that looks like a good potential investment, I first go to the CoinMarketCap page for that symbol and look at the website and blockchain explorer.

Critically evaluate the website. This is the first pass of the bullshit detector and you can tell from a lot from just the website whether its a scam. If it uses terms like "Web 4.0" or other nonsensical buzzwords, if its unprofessional and has anonymous teams, stay away. Always look for a roadmap, compare to what was actually delivered so far. Always check the team, try to find them on LinkedIn and what they did in the past.

Read the whitepaper or business development plan. You should fully understand how this crypto functions and how its trying to create value. If there is no use case or if the use case does not require or benefit from a blockchain, move on. Look for red flags like massive portions of the float being assigned to the founders of the coin, vague definition of who would use the coin, anonymous teams, promises of large payouts...etc

Check the blockchain explorer. How is the token distribution across accounts? Are the big accounts holding or selling? Which account is likely the foundation account, which is the founders account?

Read the subreddit and blogs for the cryptocurrency and also evaluate the community. Try to figure out exactly what the potential use cases are and look for sceptical takes. Look at the Github repos, does it look empty or is there plenty of activity?

2) Fill out an Investment Checklist

I have a checklist of questions that I find important and as I'm researching a crypto I save little snippets in Evernote of things that are relevant to answering those questions:

What is the problem or transactional inefficiency the coin is trying to solve?

What is the Dev Team like? What is their track record? How are they funded, organized?

Who is their competition and how big is the market they're targeting? What is the roadmap they created?

What current product exists?

How does the token/coin actually derive value for the holder? Is there a staking mechanism or is it transactional?

What are the weaknesses or problems with this crypto?

3) Create some sort of consistent valuation model/framework, even if its simple

I have a background in finance so I like to do Excel modeling. For those who are interested in that, this article is a great start and also Chris Burniske has a great blog about using Quantity Theory of Money to build an equivalent of a DCF analysis for crypto.

Here is an Excel file example of OMG done using his model. You can download this and play around with it yourself, see how the formulas link and understand the logic.

Once you have a model set up the way you like in Excel you can simply alter it to account for various float oustanding schedule and market items that are unique to your crypto, and then just start plugging in different assumptions. Think about what is the true derivation of value for the coin, is it a "dividend" coin that you stake within a digital economy and collect fees or is it a currency? Use a realistic monetary velocity (around 5-10 for currency and around 1-2 for staking) and for the discount rate use at least 3x the long term return of a diversified equity fund.

The benefit is that this forces you to think about what actually makes this coin valuable to an actual user within the digital economy its participating in and force you to think about the assumptions you are making about the future. Do your assumptions make sense? What would the assumptions have to be to justify its current price? You can create different scenarios in a matrix (optimistic vs. pessimistic) based on different assumptions for risk (discount rate) and implementation (adoption rates).

If you don't understand the above thats perfectly fine, you don't need to get into full modeling or have a financial background. Even a simple model that just tries to derive a valuation through relative terms will put you above most crypto investors. Some simple valuation methods that anyone can do

Metcalfe's Law which states that the value of a network is proportional to the square of the number of connected users of the system (n2). So you can compare various currencies based on their market cap and square of active users or traffic.

Another easy one is simply looking at the total market for the industry that the coin is supposedly targeting and comparing it to the market cap of the coin. Think of the market cap not only with circulating supply like its shown on CMC but including total supply. For example the total supply for Dentacoin is 1,841,395,638,392, and when multiplied by its price in early January we get a market cap that is actually higher than the entire industry it aims to disrupt: Dentistry.

If its meant to be just used as just a currency: Take a look at the circulating supply and look at the amount that is in cold storage or set to be released/burned. Most cryptos are deflationary so think about how the float schedule will change over time and how this will affect price.

Once you have a model you like set up, you can compare cryptos against each other and most importantly it will require that you build a mental framework within your own mind on why somebody would want to own this coin other than to sell it to another greater fool for a higher price. Modeling out a valuation will lead you to think long term and think about the inherent value, rather than price action.

Once you go through this 3-step methodology, you'll have a pretty good confidence level for making your decision and can comfortably sit back and not panic if some temporary short term condition leads to a price decrease. This is how "smart money" does it.

Think about your portfolio allocation

You should think first in broad terms how you allocate between "safe" and "speculative" cryptos.

For new investors its best to keep a substantial portion in what would be considered largecap safe cryptos, primarily BTC, ETH, LTC. I personally consider XMR to be safe as well. A good starting point is to have between 50-70% of your portfolio in these safe cryptocurrencies. As you become more confident and informed you can move your allocation into speculative small caps.

You should also think in terms of segments and how much of your total portfolio is in each segment:

Core holdings - BTC, Ethereum, LTC...etc

Platform segment - Ethereum, NEO, Ark...etc

Privacy segment - Monero, Zcash, PivX..etc

Finance/Bank settlement segment - Ripple, Stellar...etc

Enterprise Blockchain solutions segment -VeChain, Walton, Libra...etc

Promising/Innovative Tech segment - Raiblocks, IOTA, Cardano...etc

You should also think about where we are in the cycle, as now given so much uncertaintly its probably best to stay heavily in core holdings and pick up a few coins within a segment you understand well. If you don't understand how enterprise solutions work or how the value chain is built through corporations, don't invest in the enteprise blockchain solutions segment. If you are a technie who loves the technology behind Cardano or IOTA, invest in that segment.

Think of your "circle of competence"

This is actually a term Buffet came up with, it refers to your body of knowledge that allows you to evaluate an investment. Think about what you know best and consider investing in those type of coins. If you don't know anything about how supply chains functions, how can you competently judge whether VeChain or WaltonChain will achieve adoption?

This where your portfolio allocation also comes into play. You should diversify but really shouldn't be in much more than around 12 cryptos, because you simply don't have enough competency to accurately access the risk across every segment and for every type of crypto you come across. If you had over 20 different cryptos in your portfolio you should probably think about consolidating to a few sectors you understand well.

Continually educate yourself about the technology and markets

If you aren't already doing it: Read a bit each day about cryptocurrencies. There are decent Youtubers that talk about the market side of crypto, just avoid those that hype specific coins and look for more sceptical ones like CryptoInvestor. If you don't understand how the technology works and what the benefits of a blockchain are or how POS/POW works or what a DAG is or how mining actually works, learn first. If you don't care about the technology or find reading about it tedious, you shouldn't invest in this space at all.

Technical analysis isn't that useful over the short term in crypto, so stop daytrading

Technical analysis was initially developed by financial professionals primarily to measure momentum based on historical data. It can be useful in regulated efficient stock markets for a very good reason: patterns are fairly predictable in stocks since they are a result of intrinsic events (such as quarterly earning reports) or extrinsic events (interest rate change announced). Its true that we also have movement that is based around insider information, however we have laws that keep that to a minimum. Add to this the fact that most stocks are held with large institutional investors and bought and sold by financial professionals who slowly add and decrease their position over long term plans, which is why its rare for the wild swings within short periods. These different intrinsic and extrinsic events all have a correlation in price, and because the markets are regulated and efficient we can use them to predict movement within a reasonable degree of confidence.

None of this is true for crypto. Its completely unregulated and insider trading and PnD schemes are rampant. No technical analysis in the world takes into account that all it takes for a crypto to double is John McAffee to post a single sentence about it on Twitter, or a sub of a smaller crypto to organize a shilling operation on /r/CryptoCurrency. Its also filled with weak hands who will dump on any sign of sellling pressure.

This is why trying to use technical analysis tools from the stock market for short term trading in crypto isn't that useful. Technical analysis was meant to predict pricing movement in a regulated and efficient environment.

So stop daytrading. If you use technical analysis, use it for long term trend confirmation. Any attempt to trade short term based on price momentum is pure gambling. If you want to gamble get a girl and some friends and go to a casino and drink while you do it, its much more fun.

Summing it up
I predicted a few days ago that we would have a major correction in 2018 specifically in the altcoins that saw massive gains in Decemeber/early January, and it seems we've already had a pretty big one. I don't think we'll have a complete meltdown like some are predicting, but some more pain may be incoming.

Basically take this time to think about how you can improve your investment style and strategy. Make a commitment to value things rather than chasing FOMO, and take your time to make a decision. Long term investment will grant you much more returns as will a systematic approach.

Take care and have fun investing :)


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Tarpon Springs RedKnights
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 18, 2018 9:57 am

Wow good info thanks Russ. Also Reddit is awesome so don’t be mean. Myself and Bern run the r/moustaki site.


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Kane County Goon Squad
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 18, 2018 10:02 am

NICE!

thanks for the info

what does "FOMO" stand for?


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Bergen Brawlers
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 18, 2018 10:05 am

Kane County Goon Squad wrote:
NICE!

thanks for the info

what does "FOMO" stand for?

fear of missing out -- basically buying while a coin is at its high because you think it's going to keep increasing in value and don't want to miss out.


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Kane County Goon Squad
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 18, 2018 10:12 am

Bergen Brawlers wrote:
Kane County Goon Squad wrote:
NICE!

thanks for the info

what does "FOMO" stand for?

fear of missing out -- basically buying while a coin is at its high because you think it's going to keep increasing in value and don't want to miss out.
cool - ty


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Manhattan Beach Militia
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 18, 2018 11:01 am

Thanks Russ. Some very good and useful information.


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Nevada NightHawks
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 18, 2018 11:50 am

Thanks Russ.  I felt good that I have used some of the checklist stuff on my own.  When I saw the paragraph about spreadsheets, I'm all aboard!  laughing


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Carolina Silverbacks
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 18, 2018 12:05 pm

interesting information. Thanks for sharing. Looking forward to 2018 especially after the market improves.


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Southside Spartans
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 18, 2018 4:06 pm

Really good article Russ, thanks for sharing.

One thing I do he discusses that I haven't mentioned before is to break up my holdings by "segments". The ones he lists are basically what I use. I have one other "shitcoin twitter" section for those I don't believe in the tech but I'm following masses with tight stop loss I chase up because people will drive up crazy coins on fomo. I think the old stock trader in me is trying to diversify. I'm not sure it actually helps much yet in crypto the way it does with stocks because almost the entire crypto market moves together. What it does do for me is it makes sure I'm buying what I feel are the better coins in each segment. Some of my friends newer to the space are buying a bunch of shitcoins (most seem to be in same segment) hoping to hit a few big to buy their new cars or whatever. I know crypto is the wild west and that has worked for a lot of people but I try to treat it more as investing and not gambling (have football, basketball, baseball, and poker for that).


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Southside Spartans
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 18, 2018 4:21 pm

Over last few days I've been buying into dip.  Mostly increasing positions at discounted prices (hopefully).

I added to my positions in Bitcoin, ETH, NEO, VeChain (decent size increase and got lucky with more good news from them), OMG, and ZCash.

I opened new positions in Cardano and Airswap

I also went pretty big in Ripple yesterday evening for $1.01 (10030 Sat).  I already exited the position this afternoon at $1.66 (14044 Sat).  It will likely go higher and I'll be ticked I wasn't more patient but figure needed to lock in the profits.

Over next few days I'm planning to hold and see what happens.  I may get out from some of my altcoins to increase positions in some of the core coins I want to hold.  Who knows tho...my plan seems to change every day.  I know not much of a plan then right... I do want to open position in 0x but I keep going to buy after more good news and I hate chasing price.




Last edited by Southside Spartans on Thu Jan 18, 2018 4:40 pm; edited 1 time in total
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Manhattan Beach Militia
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 18, 2018 4:29 pm

Since it was suggested as a good site to review, I've been using Coin Market Cap (which I really like), but I learned of this one yesterday. Nice layout.

https://www.apogeecrypto.com/


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Mohawk Ridge Marauders
 
 
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PostSubject: Re: Crypto Currency   Thu Jan 18, 2018 9:14 pm

My brother took the plunge into Crypto right before the huge dip there. His $4,000 is down to $2,900. Trial by fire Laughing


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Kansas City Kings
 
 
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PostSubject: Re: Crypto Currency   Fri Jan 19, 2018 6:54 am

I am not surprised by this. Wish I would have bought more while it was down.

https://news.bitcoin.com/south-korean-officials-caught-trading-on-insider-knowledge-of-crypto-regulations/


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Bergen Brawlers
 
 
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PostSubject: Re: Crypto Currency   Fri Jan 19, 2018 4:12 pm

For the experts out there, what is the approximate fee to transfer ETH, BTC, or other coins from a wallet (be it a paper wallet or a Trezor) to GDax or Binance?

I don't have much money in this and probably won't. But I'm thinking about doing at least a paper wallet and possibly a hardware wallet. But I'd avoid it if I'm paying 20% of what I have to get it to the wallet and 20% more to get it back to the exchange, then a 1% fee to transfer to ETH, and then a few percentage points to get to GDax and then I have to pay Coinbase to get it out.


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Southside Spartans
 
 
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PostSubject: Re: Crypto Currency   Sat Jan 20, 2018 8:57 am

Here's a page with average transfer fees for the different coins (just click coin interested in at bottom with time frame).  When at all possible transfer in ETH or LTC instead of BTC because BTC is stupid expensive lately (gotta love miner monopolies).  ETH and LTC are pretty similar fees but LTC is quicker if that makes a difference.

https://bitinfocharts.com/comparison/transactionfees-btc-eth-ltc.html#6m


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Southside Spartans
 
 
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PostSubject: Re: Crypto Currency   Sat Jan 20, 2018 9:08 am

Couldn't sleep last night so I sold some of my position in Po.Et, Golem, and Deepbrain Chain to free up money to open decent position in ICON (ICX). Nothing really wrong with those but feel ICX is in play now. Lot of buzz at Bitcoin conference around them, NEO, and VEN and the hype train is leaving the station. VEN rewarded with tons of good news over last week and hit ATH today and things looking really good for ICX also. ICX has some big announcements planned for this week so figure open position last night and ride the train for a bit.


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Carolina Silverbacks
 
 
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PostSubject: Re: Crypto Currency   Sat Jan 20, 2018 12:32 pm

I’ve been diving into finally understanding satoshi values. I was able to move some pieces and make a profit according to those values. Trying to get a better feel of what my plan is or will be eventually. Needed some BTC and eth to watch for coins to get in on. I invested more than originally planned with the Wife but it’s not enough to worry about losing. But it’s enough to move around and properly get my feet wet.


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Carolina Silverbacks
 
 
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PostSubject: Re: Crypto Currency   Sat Jan 20, 2018 12:37 pm

An area I’m looking at is esports as it’s a growing industry. Mark Cuban backs UKG and I think it’s more promising than some others. I don’t think it’s lightning in a botttle but I think it will be a long term grower.


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Mohawk Ridge Marauders
 
 
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PostSubject: Re: Crypto Currency   Sat Jan 20, 2018 11:27 pm

That's how it goes Matt! Hope you do well!

Really like ICX and am really regretting my attempt at swing trading. Blegh.


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Southside Spartans
 
 
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PostSubject: Re: Crypto Currency   Mon Jan 22, 2018 8:33 am

Spent some time looking at coins last night and one thing dawned on me...there are a LOT of coins that still have decent market cap and are in play that haven't released anything as far as tech goes. Many of them don't even have a real use case, just a social media following. Some have only published the white paper but no updates to source code or any presentations since ICO came out so not sure what, if anything, they're doing.

It's making me go over all the coins I have or watching to make sure they have some sort of tech that has potential. I'm getting out of the pure speculative swing trade plays even if Twitter loves them (yes Tron, it's been a profitable ride but I'm done swing trading with you...LOL). This was a discussion with many people at last weeks conference and some of the bigger players are thinking the altcoin bubble for coins with no tech could come crashing down soon. Most people playing these shitcoins are newer trying to get a quick lambo but the last correction shows they don't have stomach to stick with it. I'm honestly shocked people are buying back into these coins but sooner or later that will end so I'm just getting out of them now because there are plenty of good tech coins out there with good teams I can make money with. I have a family anyway so don't really need a lambo laughing


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Bergen Brawlers
 
 
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PostSubject: Re: Crypto Currency   Mon Jan 22, 2018 9:20 am

I have noticed a lot of the same thing John. Especially watching BitConnect rise last week despite what happened to it. It looked like people who had the coin were hoping to pawn off on noobs who just saw the price drop and thought they had a great buying opportunity. One thing that might be helpful is to share coins that people should really think about several times before buying. Offering advice on what to buy is tough because you don't want to be wrong but I'm ok if I warn you about a coin and I shouldn't have been so down on it.

As noted, I would stay away from BitConnect (BCC), which appears to have been a Ponzi scheme. Even worse if that there is now a BitConnectX (BCCX) which appears to be doing the same thing.

DOGE - it's a joke coin from what I've heard. Literally made up as a joke.

https://motherboard.vice.com/en_us/article/9kng57/dogecoin-my-joke-cryptocurrency-hit-2-billion-jackson-palmer-opinion

TRON(TRX) - concerns about plagarizing white paper (defense is that it was the result of translation); pump and dump allegations; and questions about whether it actually has office space. There are some positives as well but there are enough red flags to make me put money in another coin


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Mohawk Ridge Marauders
 
 
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PostSubject: Re: Crypto Currency   Mon Jan 22, 2018 10:04 am

DOGE is a joke coin but pretty resilient and has stupidly low fees. Can be useful for moving funds between exchanges. It's also old and established which is nice. Not a scam coin, just silly.

I'd add XVG to the list of shit to avoid. The sheer amount of drama around that project is insane.


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CryptoTown Deliverers
 
 
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PostSubject: Re: Crypto Currency   Tue Jan 23, 2018 4:37 am

Even chat about crypto , where has this league been all life! I was a early adopter of Bitcoin at first now many other coins. I'm now into mining and having great results.


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Southside Spartans
 
 
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PostSubject: Re: Crypto Currency   Tue Jan 23, 2018 9:24 am

Thticket wrote:
I'm now into mining and having great results.

I did a little mining early on in my journey but pretty much stopped when I started getting more into the trading of coins (and new setup was looking expensive). I could probably still do LTC or Doge for little bit per day but I'm lazy. Curious if you're mining with GPU setup under the cryptonight algorithm or something else.

Lately my free coins come mostly from airdrops but even those are getting little sketchy with info they want/need (Polyswarm wanted photo of passport which felt little weird so I passed).


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CryptoTown Deliverers
 
 
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PostSubject: Re: Crypto Currency   Tue Jan 23, 2018 10:45 am

I'm GPU mining zcash using nanopool into a jaxx wallet and then shapeshift into other coins. Thinking about moving mining z classic before they flork (if they can get it done ) into bitcoin private


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Nevada NightHawks
 
 
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PostSubject: Re: Crypto Currency   Tue Jan 23, 2018 2:40 pm

My first buy in ever was several weeks ago when ETH was in the mid $1300's.  Is it just me, but every time it drops below $1000, I feel the need to buy more.  And I have twice around the $930 mark.  shrug 

For some reason, that $1000 mark is my magic number and when it gets close to the $900 mark, I start getting antsy to buy more.  laughing


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Southside Spartans
 
 
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PostSubject: Re: Crypto Currency   Tue Jan 23, 2018 3:18 pm

LOL. I have that same problem with a lot of coins


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Haddonfield Slashers
 
 
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PostSubject: Re: Crypto Currency   Tue Jan 23, 2018 6:18 pm

Damn your telling me we can't get one guy investing in this to spring for $5 to fill the Superbowl Squares Pool?


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Oaktown Malosos
 
 
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PostSubject: Re: Crypto Currency   Tue Jan 23, 2018 7:17 pm

Haddonfield Slashers wrote:
Damn your telling me we can't get one guy investing in this to spring for $5 to fill the Superbowl Squares Pool?

ROFL

Crypto is "investing"...squares is gambling. wink If you really need one more...I'll throw in.


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Carolina Silverbacks
 
 
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PostSubject: Re: Crypto Currency   Wed Jan 24, 2018 12:12 pm

Ok so I'm trying to understand wallets and how to move my coins off the exchanges to a wallet. I don't have a ledger nano but would like to buy one down the road. Are all coins able to be stored in a wallet like MEW (myetherwallet)? If I want to hold coins longer term I'd like to get them off the exchange but don't know the best way to do this. Any help or past experiences would be greatly appreciated.


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