The crypto currency thread

[Ricky bonds]

Crypto currency, decentralized currency, block chains, bitcoin, ethereum, litecoin, 3000 lesser known cryptocurrencys...hundreds of millions of dollars in play, people making huge and moderate profits off something they can barely understand in some cases lol, money lost and never to be found because someone simply lost their cold storage device or stored it in their phone and were hacked or they simply lost their phone?.....
Crypto currency, like it or not, it's here and it is exploding!

I saw the thread on bitcoin and though it might be smart to have a thread that focuses on the phenomenon as a whole and doesnt only focus on bitcoin. Bitcoin is cool of course, if you got on the boat anywhere from 1$ to 1000$/btc, you probably made one of the smartest gambles of your life.. hell, even if you got on the boat at 11,000$/btc you still had plenty of chances to cash in and out and make a killing.
But what about the small guys? Anybody take any gambles that paid off? I want to know.. of course i'll share some of my hits and misses while trying to play in this hyper-complex world.
-bitcoin (win,win,win)
-ethereum (win,win)
-litecoin (sold too early, got back in and win)
-uquid (loss)
-dash (i totally fucked it up lol)
-eos (win, loss, and the future is bright)
..these were the guys that i gambled in. Some were to cash out, some were to hold and sit on. And now i chose a dozen newer crypto currencys and bought coin hoping one will be the next 3, 4 or 5 digit crypto dragoncoin and ripple are 2 of those...

PERSONAL DISCLAIMER LOL: I DO NOT ENDORSE OR SUGGEST CRYPTO CURRENCYS, NOR DO I HAVE A FIRM UNDERSTANDING OF THE TECHNOLOGYS BEHIND THEM (IN REGARDS TO COINS, MINING, BUYING AND SELLING) I INITIALLY PURCHASED SOME AFTER A FRIEND BUSTED MY BALLS FOR YEARS AND JUST LEARNING HOW TO PURCHASE, TRANSFER, STORE AND SELL WAS THE EQUIVALENT OF GOING BACK TO SCHOOL AND LEARNING A NEW LANGUAGE. I RECOMMEND THAT ANYONE INTERESTED OR ABOUT TO INJECT ANY FUNDS INTO CRYPTO CURRENCYS TAKE THE NECESSARY TIME TO RESEARCH AND TRY TO UNDERSTAND TO THE FULLEST OF THEIR ABILITY'S THE NECESSARY STEPS REQUIRED TO PURCHASE OR SELL THE VARIOUS CRYPTO CURRENCYS. AND PUT EMPHASIS ON THE SECURITY AND STORING ASPECTS TO PROTECT YOUR FUNDS AS BEST YOU POSSIBLY CAN. THERE ARE AN ENORMOUS AMOUNT OF SHARKS IN THESE WATERS AT EVERY TURN AND THE COMPLEXITYS OF EVERYTHING SURROUNDING CRYPTOS LEAVE MANY TO FEND FOR THEMSELVES.

 

[Ricky bonds]

Qtum is my hopefull golden egg.. and another meteoric rising coin since october. Qtum was a crypto currency i grabbed with no information or digging around about its potential, country or creators.
I bought in at the very beginning for peanuts under the dollar and it was bouncing between 19$-30$/usd per coin today. I've been driving myself mad for the past few hours contemplating if i sell now, or if i hold and wait. Can it reach a potential 100$usd/coin? ... that would literally be my own personal scratch ticket, even at 20$usd/coin i'm in more than i can ever dream of getting on years and years of real world bank system investments.
To keep gambling or to cash out and run .. i don't know how traders deal with that pressure lol

 

[Willgill]

It may just be me, but I will stay away these. I may miss the big buck, but I won't get burnt

 

[Ricky bonds]

It may just be me, but I will stay away these. I may miss the big buck, but I won't get burnt

It is wise to avoid if someone has no interest of course. It is fun if you can play with funds that were earned from crypto currencys and not risk any of your personal assets. (Then again i've seen a few people close to me go all in with capital on credit and come out winning in 60 days to reimburse the debt and score a large return.. that goldrush mentality is when you know things are crazy lol)

 

[hornylouis]

I've realized the fundamentals and technicals don't really matter in crypto. Since the market caps are so small, it's so easily manipulated. You just have to pick a crypto that's doing -10% and hold until some whale comes in and pushes it +50%.

 

[hungry101]

How about Monopoly money? What if I decide that Monopoly money is is legal tender for all debts public or private? I could easily corner the market on all toy stores here and buy all the monopoly money I can get my hands on. I'd be filthy rich!!!

I do not understand any of this. Would any of you sell your house for Bitcoin?

 

[somethingelse]

How about Monopoly money? What if I decide that Monopoly money is is legal tender for all debts public or private?

Sure, why not? We already have Canadian Tire money :smile:

https://en.wikipedia.org/wiki/Canadian_Tire_money

 

[Willgill]

I think the very fact that the supply of crypto currency is decreasing over time means they cannot be used as the by default currency, because modern economy is built on inflation, which requires the supply of currency to increase ove time.

 

[Ricky bonds]

Ripple in constant increase.
0.209287 usd/ ripple coin was the price i purchased on nov.16.2017.
0.746299*USD/ ripple coin is todays price.
This one is all over the news and the so called 'experts' are convinced it will reach 2.10$/usd by mid 2018

Tron is another hopeful that seems to be on the rise.
0.002113/usd/tron coin was my purchase price on nov.19.2017.
0.741667*USD/tron coin is todays price.. im not that good in numbers but that is one hell of a rise in under 2 months.

 

[Ricky bonds]

I do not understand any of this. Would any of you sell your house for Bitcoin?

I do not understand any of this either, but i would sell my house for bitcoin in a heartbeat at a 15% below stable market rate as a 'risk fee'

 

[jalimon]

Ricky rule number one in investment is to no invest in something you do not understand.

Rule number 2 is to put in maximum 10% of your assets.

No following that you are not an investor you are a blind gambler.

Cheers,

 

[Ricky bonds]

You are right jalimon. To be fair, i am playing with 100% profit off of crypto currencys and i would not gamble any of my personal assets in this until i really understand what i am doing lol.
But so far my trial and error based on logic and minimal research has served me well.

P.s its important to note that i have been following bitcoin since the 100$ mark. And this isnt something i just found out about last week.
Also i have very close friends who have made 6 figure returns off of 2000$ investments .. so i dont base any hope in this off of a story on the news or internet, its in my face everyday in the real world

 

[EagerBeaver]

Ricky rule number one in investment is to no invest in something you do not understand.

Rule number 2 is to put in maximum 10% of your assets.

No following that you are not an investor you are a blind gambler.

Cheers,

Ricky is in a position to do something about rule number 1. You can invest in something you do not understand if you align with another investor who does understand. So all Ricky has to do is locate Satoshi Nakamoto. Although his identity is unknown, it is believed he is actually an American:

https://en.wikipedia.org/wiki/Satoshi_Nakamoto

 

[Ricky bonds]

At the moment i wrote about qtum it was selling around 19$ usd.
Today it reached the 48-50$/usd mark
A 5000$ investment at the time i wrote it would be 12,000$ today..and every platform is buying in bulk.

 

[jalimon]

You are right jalimon. To be fair, i am playing with 100% profit off of crypto currencys and i would not gamble any of my personal assets in this until i really understand what i am doing lol.
But so far my trial and error based on logic and minimal research has served me well.

P.s its important to note that i have been following bitcoin since the 100$ mark. And this isnt something i just found out about last week.
Also i have very close friends who have made 6 figure returns off of 2000$ investments .. so i dont base any hope in this off of a story on the news or internet, its in my face everyday in the real world

Wise to play with the profit part. I read back my post and need to add that as long as you do not forget that your gambling it's ok to be a gambler! I am an investor in Internet companies, pretty much the same...

I will always remember René Angelil's answer when we was asked he if was a gambler by a journalist on live tv "I was 45 years old when I put down my mortgage and all my assets on a singer that was not particularly pretty with crocked teeth and which everyone was laughing at... Only a gambler would have done so..."

Cheers,

 

[TnT]

Crash coming soon.

 

[jalimon]

Crash coming soon.

That's the only thing we are sure of yes. The idea is when? When the big player will have made enough and sell it all to many sheeps who will loose it all. Just a bit different but same principle as regular stock exchanged

Cheers,

 

[Ricky bonds]

Qtum surpassed the 70$/usd mark.
https://www.google.ca/amp/s/www.for...at-is-qtum-and-why-is-it-growing-so-fast/amp/
..who took a chance when i mentioned it before the spike?.. dump now, don't risk anymore, you already made gold.

 

[EagerBeaver]

Bitcoin crash:

http://money.cnn.com/2017/12/22/investing/bitcoin-plunges-below-14k/

 

[jalimon]

That was absolutely expected. The early adopters do not give a fuck as they are still about 500% gain. Like I wrote previously its the other sheep that followed and tried to stick a little too long...

That said, once enough will have loose money it will go up again for a while.

Cheers,