Crypto currency

The original purpose of crypto currency was to purchase narcotics on the internet. It’s NOT the next big thing. I promise you will not get rich. But go ahead and waste your money. I just know I won’t be.
 
Of course the huge bankers and Wall Street investors are against it, it is potentially taking away from their profits because some people are moving out of Wall Street and into crypto currency.
 
NoAddedHmones said:
Or different people have different opinions and risk profiles?
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Sure. But if you follow the number one rule of investing in anything and not put in more than you’re willing to lose, there really is no reason for you to not have some of your portfolio in crypto currency. I guarantee all these stupid alt coins and ICOs will be gone soon. The worthwhile ones will be around for a while.

Either way, even if I lose everything I have in now I will still have come out on top.
 
BlockBuilder said:
Surely all of these billionaires can’t be wrong and they also address what you just said Kisaj. Invalid Link Removed
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First off, I am a software guy that has been studying blockchain for years, so I am supporting the technology because it is 100% our future. The currency associated is going nowhere, regardless of the doomsday naysayers. Is some of it overvalued, absolutely.

I invest in traditional manners, but I will also say that I made over 6 figures in crypto last year and likely to match that this year. And I am small fish compared to a lot of people I know personally that are in it.

So all the “warnings” fall on deaf ears over here. I’m actually starting a crypto consulting business on the side because of this.
 
BlockBuilder said:
The original purpose of crypto currency was to purchase narcotics on the internet. It’s NOT the next big thing. I promise you will not get rich. But go ahead and waste your money. I just know I won’t be.
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People I know already have got rich (paid off mortgages, retired etc), it’s naive to think the way in which currency works can’t change......sounds similar to what a number of people said about the dot com era.....

Some people will lose money but many will make money. I play around with small amounts (actually just play with profits, I cashed out my initial investment when it had tripled). Part of me wishes I had more in it but I don’t know enough to do so.
 
The way I see it, Alternative currencies like this would be great for the people. We should have the ability to invest- how we want to invest. The problem is...the government is going to do all they can to stop it. The anonymity of it-scares the sh*t out of them. Just think of all the tax money they stand to lose. With that said- it’s a fun game to play... and I’m in. Hate to sound like Dad... be smart. Don’t throw in more than you can afford to lose.
 
BlockBuilder said:
Surely all of these billionaires can’t be wrong and they also address what you just said Kisaj. Invalid Link Removed
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Ah, appeal to authority. They’re billionaires so the MUST know what they’re spouting and touting! Investing as a whole *can be* a financial risk.

Anyhow, if you’re investing you’re savings and any leftover cash you have, you’re doing it wrong. Goes back to only investing what you could potentially lose.
 
Agreed 100%. Obviously if they had made their billions in crypto- they would be singing a different tune. Plenty of people have made a lot of money in crypto. Sounds like kisaj included. So to quote billionaires who made their fortune “traditionally” is naive.
 
Valid points. It is very naive to say that people dabbling in crypto aren't making money, because for 95% of the people, that is the only reason to be involved. "Rich" is subjective and I know many, many people that have made $5k, 10k, 20k in an incredibly short time span and while maybe not "rich", certainly much better off than they were before. For a young guy, making $5k in under a month can be an incredible opportunity. There is NOTHING else out there that can offer this.

Funny how in my own personal life people that told me I was crazy and spewed "bubble" crap, are now the same people wishing they got in earlier and me talking them down from putting in all their savings. No matter what, it is risky, but so is any huge opportunity and you just need to be smart about it.
 
One thing I will add is that if you are not comfortable with the instability right now, may want to pull your money as long as it isn't for a loss. I see a lot of sell walls building and prices lowly declining. I would imagine that the next couple weeks will see some more decline and build up again. If you are good with holding, it could be another opportunity to buy more or trade sideways.
 
kisaj said:
One thing I will add is that if you are not comfortable with the instability right now, may want to pull your money as long as it isn't for a loss. I see a lot of sell walls building and prices lowly declining. I would imagine that the next couple weeks will see some more decline and build up again. If you are good with holding, it could be another opportunity to buy more or trade sideways.
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It’s the instability that creates opportunity, it is high risk, yeah I think most would agree it probably is by a normal investment measure, but the returns are unlike any other opportunity so in my mind you pay your money and take your chances (if it’s money you can afford to lose and it’s a risk you want to take).
 
Whisky said:
People I know already have got rich (paid off mortgages, retired etc), it’s naive to think the way in which currency works can’t change......sounds similar to what a number of people said about the dot com era.....

Many people will lose money but many will make money. I play around with small amounts (actually just play with profits, I cashed out my initial investment when it had tripled). Part of me wishes I had more in it but I don’t know enough to do so.
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Fixed, Investing is a zero sum game, for every winner there is a loser.
 
I find it ironic that people are up in arms about investing but will “invest” hundreds a month on MANY supplements that do.... nothing.

...Carry on...
 
No, it is really a developer and geek fest. I have an old programmer and software background, but long ago moved to the storage side of the industry and focused on the customer side. I love that they are coming here though. Maybe I’ll go to the after party! Lol
 
kisaj said:
Lol, you’ve been with us. I was pointing that towards halfhuman.
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Oh I know

I was just responding though. The more I read into the blockchain and the fact that it fell back to nickel I didn’t want to pass it up, again.
 
kisaj said:
Talk to us. With what and what exchange are you using?
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I’m using coinbase with Binance.

My first purchase was CDT.

Going to go with your suggestion right now and buy some TRX. Wanted to go with TRON as well but it’s up 3.50. Wanted to buy when it was -2.50 waiting on that again.
 
halfhuman said:
I’m using coinbase with Binance.

My first purchase was CDT.

Going to go with your suggestion right now and buy some TRX. Wanted to go with TRON as well but it’s up 3.50. Wanted to buy when it was -2.50 waiting on that again.
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TRON is TRX. You may be looking at another blockchain.

TRX is trading at $0.08 now. Worth picking up and moving to MEW
 
TRX will be a long term hold because they really haven't done anything and it is all speculation right now. It's cheap enough that you can get in with little risk.

Keep an eye on the coins aimed at counterfeiting. This is a huge problem in China and in retail and they are coming up with ways to address this through RFID, tracking, and other avenues. The big 3 are Wabi, VeChain, and Walton. Each serves a different purpose, but the big thing is that they are already being used and have a working product. Wabi is unique in that they are targeting food and beverage, and this is a big deal with tainted dairy products, baby foods/formula, meats, etc.
 
kisaj said:
TRX will be a long term hold because they really haven't done anything and it is all speculation right now. It's cheap enough that you can get in with little risk.

Keep an eye on the coins aimed at counterfeiting. This is a huge problem in China and in retail and they are coming up with ways to address this through RFID, tracking, and other avenues. The big 3 are Wabi, VeChain, and Walton. Each serves a different purpose, but the big thing is that they are already being used and have a working product. Wabi is unique in that they are targeting food and beverage, and this is a big deal with tainted dairy products, baby foods/formula, meats, etc.
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All your coins are long term? You don’t do day trading?
 
To be honest I prefer long term as well, mostly because of not much time available.

I like doing my due diligence, buy and hodl
 
JulzRulz said:
Googling all 3 of them now, thanks
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No idea how this slipped my mind, but also Modum (MOD). This is one that could be a sleeper right now, but check out the white paper Invalid Link Removed.

My take is that there is no industry other than possibly healthcare that will benefit more from blockchain than supply chain. To be able to track something from point beginning to end and ensure the authenticity via smart contracts is perfect.
 
halfhuman said:
All your coins are long term? You don’t do day trading?
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I did, and made great money from it, but it is getting more difficult now that futures have come into play. Believe it or not, but crypto is much more stable than it was and doesn't have the day to day volatility like it did even 3 months ago. It used to be that a coin could drop 20-40% in the morning and come right back by the evening so you could buy and sell that day. Now we have bots in play, a lot more whales, and people pumping and dumping. I've been invited to 3 different pump and dump groups and I think they terrible. So, if I have been invited to 3 personally, I can only imagine how many are out there.

So I now only buy coins that I have thoroughly researched and believe in, so long term hold is easier.
 
kisaj said:
I did, and made great money from it, but it is getting more difficult now that futures have come into play. Believe it or not, but crypto is much more stable than it was and doesn't have the day to day volatility like it did even 3 months ago. It used to be that a coin could drop 20-40% in the morning and come right back by the evening so you could buy and sell that day. Now we have bots in play, a lot more whales, and people pumping and dumping. I've been invited to 3 different pump and dump groups and I think they terrible. So, if I have been invited to 3 personally, I can only imagine how many are out there.

So I now only buy coins that I have thoroughly researched and believe in, so long term hold is easier.
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Wow that sucks for us newbies and I actually do see it’s harder then people used to say on day trading because I’ve been eyeing a few and don’t see the profit Margin. Everything gets shady in due time which sucks.

I see
 
rascal14 said:
I wouldn't mind seeing some green on the charts.. Lol I had to stop checking my portfolio, it was getting depressing being down so much from just a couple weeks ago.
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Same, I used to open Blockfolio almost every hour and now only once in the morning before work.

On the other hand if this trend continues for awhile more I could be able to buy some more coins lol. I want it to go green but at the same time I'd like to get a couple other coins... Go figure... ?
 
JulzRulz said:
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Also, Japan is opening more exchanges and they stated today that some state employers are looking to offer to pay part of salaries in crypto- primarily BTC and/or ETH.

All I can say is that we live in a world of volatility in crypto and there is zero question we will see many dips/crashes along with big climbs this year. I can also say with certainty that this is never going away and only will grow. Will that be this year? Who knows. But this year will be a maturing process as smart contracts take focus, specific project work moves into implementation phase, and existing technologies/coins improve. ETH will need to evolve and grow and they already plan to do this in FY18. The REQ coin success is largely based on this and ETH stated they will focus on this as REQ is being touted as PayPal 2.0 and a lot of money is being put into it.

However, I digress. My point is that, you need to have strong hands and the ability to understand the ups and downs, FUD, tweets, etc will all determine how things look day to day. If you plan to HODL and not day trade, then look at quarters, not days.
 
Some kids just started a Crypto currency and blockchain research club at my school, but after reading through their website I decided to not even talk to them.. Kind of pathetic and embarrassing. Lol they do have a pretty impressive professor as their faculty sponsor, though.
 
For you mobile traders...check out the Robinhood app. A lot more options over Coinbase. The potential downside- I’m assuming they are more diligent about reporting.
 
For anyone getting discouraged- this is an annual pattern. It is always down in Jan going into Feb, plus we were dealing with some uncertainties that are now going away. Not the best environment for day trading, but ideal for HODL. These prices will not be around come spring and summer and we'll look back wishing we bought more. :)
 
kisaj said:
For anyone getting discouraged- this is an annual pattern. It is always down in Jan going into Feb, plus we were dealing with some uncertainties that are now going away. Not the best environment for day trading, but ideal for HODL. These prices will not be around come spring and summer and we'll look back wishing we bought more. :)
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I believe you are correct. I think even bitcoin is going to take off again. I have been buying more lately- and my my numbers are down... but I have a lot of faith that we are going to have another surge followed by steady growth.
 
Speculation was rife: "Coincheck is a very well-known exchange in Japan," said Hiroyuki Komiya, Chief Executive Officer of Tokyo-based Blockchain Technology Consulting. "We’ve seen several outages at various crypto exchanges recently, so the extent and seriousness of Coincheck’s halt isn’t yet clear. We’re all very eagerly awaiting to hear more detail on what’s happening."

Shortly after the halt, theories started to emerge as to what may have happened, with some speculating that the exchange may have been hacked after noticing that a massive ($110 million) transfer from Coincheck's Ripple wallet:

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