Guys Let's All Get Rich - Are You Ready?

[sunchyme1]

lol im not even involved in this and im shitting myself for you lot

 

[JeanLucBB]

Ok guys seriously I have to ring the alarm bells here because we are seeing growth and volatility that is making me uncomfortable. I don't want to be responsible for anyone losing their hard earned money so proceed at your own risk at this point. I'm staying in the market and moving money accordingly but I describe this as gambling at this point. If you are in for the long haul, then like @JeanLucBB mentioned you are probably fine but please always remember not too get too greedy and only "invest" what you can afford to lose.

I get how you feel and the sentiment is definitely worthwhile. At the same time, I am focused on the fundamentals I mentioned of intrinsic utility, their fundamental attributes, potential for demand, new users and the network effect, and comparative analysis to current mature asset classes such as gold and government bonds. Anyone who is being objective can see the potential here is 10x higher, regardless of whether we are set up for a short term major correction.

Long term horizons, hardware wallet, and honesty about the fundamentals. If this train runs off the rails in the short term, we still have a long, long way to run in the longer term.

To describe it as "gambling" however is baseless, purely emotional FUD. Meaningless and completely lacking in objectivity.

But yes, don't put in more than you can afford to lose and do your own research guys.

 

[JeanLucBB]

https://www.bloomberg.com/news/arti...-bitcoin-feels-like-a-market-top-but-it-s-not

"Billionaire investor Mike Novogratz said that bitcoin has more room to soar even though this month’s more-than-50 percent surge in the digital currency exhibits all the signs of a market peak.

"This feels like what a speculative top feels like," Novogratz, chief executive officer of Galaxy Investment Partners, said in a Thursday interview in Toronto after speaking at a conference hosted by GMP Capital Inc. “The only reason I’m not sure -- and it might be the top for a short period of time -- is that it’s a big world, and the market cap isn’t nearly big enough for it to be the top of the whole system.""

 

[Rudiger]

Anyone else having issues with coinbase verification? It's not even telling me or emailing what the issue is, and I read the customer service is just bots who don't help

 

[JeanLucBB]

Anyone else having issues with coinbase verification? It's not even telling me or emailing what the issue is, and I read the customer service is just bots who don't help

I've read many have the same issue. They need to get their act together, but at the same time it's somewhat understandable with the hyper-growth they're experiencing in user base.

 

[Rudiger]

By the way I don't even plan on putting any money in right now, I just want it ready for when I want to.

I was ready to throw in a grand earlier in the year and wait. But I had the same stupid technical issues that lead me to sit on the idea.

Obviously not feeling great about that.

 

[JeanLucBB]

By the way I don't even plan on putting any money in right now, I just want it ready for when I want to.

I was ready to throw in a grand earlier in the year and wait. But I had the same stupid technical issues that lead me to sit on the idea.

Obviously not feeling great about that.

At the same time, this makes me feel good amount demand and user base growth.. Still reading a lot of people are sitting on the sidelines with this issue.

 

[Rudiger]

At the same time, this makes me feel good amount demand and user base growth.. Still reading a lot of people are sitting on the sidelines with this issue.

Do you think it will be Bitcoin that continues growing and other cryptos just get stagnant? What about ethereum? That's the other one I was looking at.

 

[Rudiger]

There's been individual different issues with other methods of buying which gets frustrating. Xcoins.io (definitely not my first choice but getting desperate) isn't sending me a text to validate my account.

It's been little niggly things like this for every single one.

Anyone suggest something other than coinbase?

 

[JeanLucBB]

Do you think it will be Bitcoin that continues growing and other cryptos just get stagnant? What about ethereum? That's the other one I was looking at.

Bitcoin is achieving status and social awareness as digital gold, which it does very well and offers a long runway, currently at around 300b, gold being at 8 trillion. You only really need one digital gold. Beyond this other cryptos offer much better features, however often the niche they're in doesn't offer as much value in its usecase. Eth is king in the realm of development network coins, but this niche offers slightly less long term value in my opinion. In the medium term bitcoin needs to address scaling issues however to make it more useable as a currency. It doesn't need to be perfect in that sense, just usable.

I would go mainly bitcoin, some eth then some iota, a small amount of bcash, then monero, then dash, then beyond that you have to look for yourself.

 

[JeanLucBB]

on a related note, XRP/Ripple just announced escrow which has been long awaited. I expect a short term pump of 100% on this news alone. This was just released and already the chart is starting to rebound after a long slide down... i'm buying it and riding out the profit short term

f*** Ripple. I doubt 100% but a pump is likely.

 

[JeanLucBB]

literally just made 50% in the last 10min. Watch the charts - i respect your style, but trust me there's more than one way to play this game; ideally, one person would have both mine and your style - and i plan to do just that with a solid portfolio of coins.

I need a job so I have some f*****g fiat to trade.

 

[Rudiger]

then beyond that you have to look for yourself.

This is the part that worries me. Reading and understanding any of this.

Life ain't fair why can't I make money risk free with no effort and no consequences it makes no sense

^this is literally how those on Facebook and friends in group chats literally seem to be feeling. Though a small part of me can relate, people can be really childish about it.

 

[Rudiger]

It's not so difficult, some crypto currency coins are to back some solid projects, you just have to look at it and ask yourself if the concept makes sense and if so, buy into it. Some coins are purely speculative, and are higher risk but also can be profitable if you buy at the right time. A lot of these coins move with news online, especially news posted on forums, Reddit and Slack or Twitter, etc because usually those news hit before the official news websites. My experience is that by the time you are reading it in Forbes magazine you missed the train on that particular coin in the short term, though long term you may be still fine. Here's a list f m favorite coins with rating of what i perceive is the risk factor - note i make no guarantees and don't advise anyone to buy on my recommendation because the crypto market is very volatile and fast moving, and i tend to move just as fast to try and stay ahead profit wise.

BTC - 1 < gold standard

BCH - 3
NEO - 2
XLM - 3
XRP - 2
XVG - 4
TIX - 5
NXS - 4
ADA - 2
KMD - 2
ETH - 1
LTC - 1
IOTA - 3

1 = low risk
5 = high risk

Thanks for your advice and @JeanLucBB too, I'm sure others appreciate seeing it.

I could imagine putting at least some work in, possibly I could really take to it as an interest (not that I'd expect to make thousands just for reading a lot)

But, where do you start? Is literally end up reading wikipages because investopedia is beyond me, a lot of info and no idea where to begin.

Is investopedia good?

 

[JeanLucBB]

Thanks for your advice and @JeanLucBB too, I'm sure others appreciate seeing it.

I could imagine putting at least some work in, possibly I could really take to it as an interest (not that I'd expect to make thousands just for reading a lot)

But, where do you start? Is literally end up reading wikipages because investopedia is beyond me, a lot of info and no idea where to begin.

Is investopedia good?

I've used it for uni finance work so definitely legit, but not for cryptocurrency.

Datadash and boxmining on Youtube good for keeping up to date and growing a decent understanding.

 

[JeanLucBB]

Also I would echo macaronis sentiment that we may be a little overbought in the short term. 20-30% drops are common and not a big deal. I will buy the dip if it extends that.

 

[Rudiger]

Cryptocurrency moves really fast - its like the stock market on steroids and i am not sure the normal investing advice applies. I would recommend starting by going to Coinmarketcap.com and look at the top 100 coins; pick a couple you find interesting and read about what their project/coin is all about. If we are talking alt coins (which most are that unless the solid BTC/ETH/LTC) research on the forums, determine activity level on social channels and how often they update their userbase with project updates. Pick a few projects/coins that you truly believe in based on the application and invest in them - you might know about an industry i don't know and can see a potential utility/use case that i can't see so it is a very personal choice. Keep those projects you believe in diversified in your investment portfolio - those are your long term coins/investments. Give them a minimum of 1 yr before you sell them - that money is basically committed.

Then set aside some money for the riskier coins - these you short whenever you feel like, it could be daily or multiple times a day. I wouldn't recommend spending more than 25% of your portfolio value on this unless you can stomach the volatility. In general it is best to set it and forget it but because new opportunities come up you should have the flexibility to jump on them if it's part of your investment strategy.

A few more notes on crypto - look at the coin distribution & market cap; coins like XRP have 38b coins in circulation, so it's foolish to think that 1 XRP would ever hit $17,000 like BTC because it would mean the crypto marketcap would have to grow by an unrealistic amount. Don't just buy because they are cheap, make sure you buy because you see utility in it, unless you just want to appreciate in value like BTC which is fine.

Also look at the 24hr $ volume - this is very important. It could be the coin with the most potential but if you have only $10,000 in trading volume in 24hrs you won't be able to unload it even if it spikes. There needs to be a healthy circulation of buy/sell going on in a coin for you to be able to buy and sell easily if you need to.

It is really important to get immersed in the community of the coins you pick; visit their Reddit pages (there's one for every coin basically) and listen to what the community says, you can better judge a coin that way; word of warning though, triangulate your data when possible, don't believe everything everyone says since they have a vested interest in others buying their coin. This market does truly fluctuate on rumors and speculation so with your risky investments you need to be on your toes. That's all i can think for now, i'll add more if i think of anything else

Thanks! Seems like a lot to sink my teeth in to. One more thing, for example when it comes to actually buying it automatically puts me on to a site changelly, I'm guessing this also takes a lot of work in finding the best way of buying/selling without getting ripped off?

Or (hopefully) does it not really matter? Changelly will basically give a similar rate to anyone else?

 

[Rudiger]

Yeh changelly is reputable but the limits are too low for me and it's not the best way to do it. I personally would use Coinbase, buy some LTC or BTC (I personally would not buy BTC because it takes too long to process transaction as there is a long queue) and then send it to a separate account on Bittrex or exchange of your choice. You could use GDAX directly or Poloniex which are large exchanges - in the US there are some restrictions but outside of US it may be different. Anyways you could be up and running buying alt coins in maybe in 30min if you get on an exchange like Bittrex and send money to it from Coinbase which let's you do instant deposits if you buy with a credit card.

Also rates are different in different exchanges, but most importantly so is volume. You don't want to trade in a tiny exchange because it will make it more difficult to sell coins with lower trade volume.

Great! I wish I could bookmark this page but HairLossTalk.com is perma-incognito

 

[Afro_Vacancy]

Help !

Hi Afro_Vacancy
On December 07, 2017, you ordered xxxxxxx BTC via your payment method for $YYYYYYY.YY USD.
When we attempted to process this transaction it was canceled by your bank. If your payment method was charged, you will receive a full refund. If you wish to make another purchase, please try again or add a new payment method.

Unfortunately, we are unable to restart this transaction because it was canceled by your bank. If you have questions regarding this canceled transaction, please contact your bank directly.

We apologize for any inconvenience!



Kind regards,
The Coinbase Team

 

[IdealForehead]

Help !

Hi Afro_Vacancy
On December 07, 2017, you ordered xxxxxxx BTC via your payment method for $YYYYYYY.YY USD.
When we attempted to process this transaction it was canceled by your bank. If your payment method was charged, you will receive a full refund. If you wish to make another purchase, please try again or add a new payment method.

Unfortunately, we are unable to restart this transaction because it was canceled by your bank. If you have questions regarding this canceled transaction, please contact your bank directly.

We apologize for any inconvenience!



Kind regards,
The Coinbase Team

Call your bank obviously.