Anyone invest in crypto currency?

hurricane1091

UnixGuy wrote: »

I've been reading, my conclusion (nothing new) is that it's a high risk investment, you might make a lot of money in a short period of time and get out of it, but in the long term there is a high possibility that you will lose everything.

I'd rather invest in something like real estate at this point in my life..boring, I know, and I also know that the real estate bubble might burst (Australia) but it seems to be a more stable (boring)long term investment for me.


Good luck for everyone investing in Cyrpo currency, you might be the future billionaires soon....laughing at us mere humans playing it safe doing certs to get a pay rise

Modern day gold rush and you're on the sidelines mate, not good. Put in $10k 3-4 years ago and you're retired today. Put in $10k today and maybe in 3-4 be retired then? Worth a chance.

HUGE bull-run by BTC (as I predicted) and the alts. Have been day trading and increasing my position on my coins. I am still working hard at work, ANSIBLE is doing a TON for me now. Automated network baby. But crypto is where I spend my free time at work now.

p@r0tuXus

@hurricane1091 - Did you cash out bitcoins before the fork into BCH? I know someone who did because they were uncertain. They didn't buy back in before the ramp back up and missed out on some profit. BCH was going crazy for a while. Starting low, hitting almost $700 each, then dropping down to less than half of that value. I'm definitely keeping an eye on all of that, but I recently improved my position in IOTA and am planning to do so more with Ripple too. Both seem like different sides of the same Future-Coin (pun intended). I've been watching the alt coins and seeing which ones have bull runs and it's been interesting. If one could read into all of them and had experience, they could make serious gains in their portfolios by trading them, risky as it might be as @UnixGuy pointed out. Not going to argue against their point, but opportunity is not without risk.

NetworkNewb

I bought a little bit of BTC right before the fork, just so I could get some free BCH (BCC). And sold the BCH right away the morning it was released at about $330. Got a little upset when I watched it hit $1000. It actually hit over $1400 for a very a brief moment.

I think I might be boring and stick with the staple coins... BTC, ETH, and LTC for a little while. (I'll probably cave in and gamble on some other coins though.) Seeing how BTC handled this fork I think just cements it as showing it will be around for a long time and going to stay on top. Not gonna make you a millionaire anytime soon putting money into it. But don't see that growth stopping.


Edit: Just want to warn people, I'm not saying you won't see drops in price. And I actually think there could be another decent size drop coming up personally. But in the long run it is just going to go up. I think anyone who goes in Crypto Coins expecting big short term gains, are just plain out gambling. Which isn't a bad thing imo, as long as you do it with money you can afford to lose. I actually have a little bit of money that I trade with daily on an exchange, I find it fun to do. Guessing what prices are going to do based on patterns.... I haven't made much doing it, but find it interesting.

hurricane1091

p@r0tuXus wrote: »

@hurricane1091 - Did you cash out bitcoins before the fork into BCH? I know someone who did because they were uncertain. They didn't buy back in before the ramp back up and missed out on some profit. BCH was going crazy for a while. Starting low, hitting almost $700 each, then dropping down to less than half of that value. I'm definitely keeping an eye on all of that, but I recently improved my position in IOTA and am planning to do so more with Ripple too. Both seem like different sides of the same Future-Coin (pun intended). I've been watching the alt coins and seeing which ones have bull runs and it's been interesting. If one could read into all of them and had experience, they could make serious gains in their portfolios by trading them, risky as it might be as @UnixGuy pointed out. Not going to argue against their point, but opportunity is not without risk.

I did not, but I should have. It would of resulted in a nice chunk of change, lesson learned I guess. I only hold a few coins right now, and I try to day trade to increase how much I have. I successfully added 900 ARK this week which has been good. There's a few coins I want, but I really just want to trade my way to 5 figures of each of the coins I have. It's mostly a shot in the dark but ya never know.

Let's be real, no one knows the future of all these alts. As long as they are always worth more than I put in, I am happy. If I get lucky and I'm invested in something that blows up, that's awesome. It's just something fun to be involved with though, and it's exciting at the possibilities.

NetworkNewb

hurricane1091 wrote: »

ANS is garbage in my opinion, I fell for it hook-line-sinker. Small and mostly unknown team, poor communication to western markets, not really solving any problem except trying to be the Chinese ethereum. I am glad to be out of it.

That was great advice :P lol

hurricane1091

NetworkNewb wrote: »

That was great advice :P lol

LOL, my friends kept theirs. I still don't believe in it and think it's all hype. I'm usually a FOMO guy but I didn't re-buy it. My portfolio would be worth $4,000 more if I kept it, but I still believe in the stuff I have. I sold and bought ARK at 37 cents, but I sold ANS at a 50% loss so I guess look at it as I paid 74 cents for ARK. Does NEO/ANS get to $110 before ARK gets to $7.40? If the answer is yes, then I made the wrong decision long term. If the answer is no, then I made the right call. Short term I made a mistake but I am not ready to admit it was the wrong move long term.

bhcs2014

I'm invested. Cryptocurrencies make too much sense not to be the future of money. Only thing stopping that from happening is governments.

What do you guys think about the long term viability of Bitcoin from a technical perspective? All of the altcoins have better tech yet bitcoin is the most valued. Segwit is obviously going to help but as adoption increases the network is going to keep getting bogged down. Personally that is the only thing stopping me from buying bitcoin. I guess the devs can keep doing soft forks as adoption increases?

hurricane1091

NEO sitting just below $22. I think if it dips down to $15, I might unload some of my alts and get some for short term gains. I'm honestly shocked at the price. I spent a lot of time on the reddit and it was mostly nonsense compared to some other subreddits. ARK probably won't see real gains until later in the year when some serious developments come out, but I'm also happy to buy and sell the dips so I'm not sure what to do there. Two of my friends bought ANS/NEO per my suggestion and hated me LOL, and now they don't obviously. Classic.

Bitcoin is the only "currency" really. ARK, ETH, NEO, etc aren't really currencies but tokens to be used for a service/gas.

NetworkNewb

shot up to 24 now :P I agree it has to come down at one point though. I bought in a little at about 20 and sold at 22. Surprised it is still going strong.


If you look at the last few days it did a pretty good "inverse head and shoulders" pattern over that time before jumping up again. I'll be looking for another one around this range.

hurricane1091

I caved and sold all my ARK (temporarily) and bought in on NEO, and it's been screaming this morning. Challenge now I guess is getting out before it goes back down. I had a good week day trading so far, hope it continues.

p@r0tuXus

Listened to an interview (podcast?) on youtube last night with a developer involved with EOS. If it works out to that team's liking it sounds like it could be bigger and better than ETH. At one point I had heard the words "Ethereum Killer." I was doing house-work while listening, but the gist of the conversation sounded fair in the sense that the interviewee seemed about as neutral as you can get while still acknowledging your own bias. Looked at the price this morning, only at ~$1.80/coin. I guess this is the 3rd iteration of crypto that the creator has made. Considering making a small position in that alt-coin. Haven't been keeping up on ETH, but they mentioned Goldman Sachs' involvement with ETH.

hurricane1091

I have heard of EOS. ETH has some developments coming out and a bull-run is being speculated.

CryptoQue

The big 3 major coins that Coinbase supports (BTC, ETH, & LTC) will soon rise even more with the Fidelity partnership. Fidelity has a much larger customer base and will pave the way more crypto investors. https://cointelegraph.com/news/fidelity-investors-to-get-crypto-holdings-plug-in-with-coinbase-partnership

NetworkNewb

The crazy thing about NEO is still there is the controversy about whether NEO or GAS is going to be the most valuable thing yet. I understand NEO produces GAS. I had a bunch of ANS producing ANCs in my wallet on my computer a while back... It just doesn't seem like people understand what is even useful about it yet. I feel like it could completely flop at any moment. But seems like it is going to keep climbing in the short term.

NetworkNewb

Its crazy how hard they are trying to pump the NEO price up. Everytime it starts slowing down it seems they put like a $25k bid wall up. Just bought back in at $30, can't believe I'm even typing that...

edit: was able to sell half of what I bought at $35 and the other half at $33. Was not a bad 10 minutes

ITSpectre

Welp... Im going to use this thread to do research and then start farming.... I will have to set aside a amount to put into this. From what I have read its fun.

hurricane1091

A quick buck was made on NEO today, for sure. I cannot believe the price, it's just insane.

NetworkNewb

Guess I can't brag about selling it at $35 now... wtf

icebear

can't put my finger on crypto currencies, can't figure out what stands behind these crazy figures and what people actually get in return. so tend to agree that real estate is the golden mean of investment, moderately risky and liquid. and it's a tad easier to understand, you don't even have to actually buy a house, just become an investor and get income from the project that is sold or rented. something like crowd funding https://tranio.com/traniopedia/tips/picking-the-ideal-investment-tool-added-value-reit-or-crowdsource-investment/ and you don't have to save up hundred thousands for a whole house. Guess that's something I would do sooner or later, but still will follow the news about crypto-currencies and feel jealous

naclh2onaz

Been enjoying this NEO rocket. Just put some into Omise Go too. Looks very promising. It will be the first token on Ethereums plasma blockchain. Coins like TenX and Omise Go will enable people to spend their crypto holdings easily and anywhere! I like not having to worry about the hassle of converting to fiat

hurricane1091

I day traded NEO to some decent gains.

OmiseGO and TenX blowing up. I've known about those two and CIVIC as well. CIVIC and OMG looks good, TenX is a great idea but the value comes from the dividends paid out, which won't be that high probably. I am betting on that keeping price down anyway and skipping it.

naclh2onaz

I haven't bought any TenX either. If/when it gets approved in the US and adds more than just Bitcoin, I will definitely be a user of the platform. Omise Go is great because it already has a customer base from the Omise company in SE Asia. Once the project goes live and is ready to be used, it will be huge.

GeekyChick

I've been thinking about jumping in too. I was looking at brokers and Coinbase is pretty popular but it doesn't support many cryptocurrencies. I've read reviews on other brokers like Bittrex. Does anyone have a recommendation for a good broker that supports a lot of currencies but doesn't charge high fees?

naclh2onaz

I use both Coinbase and Bittrex. Coinbase I will buy BTC or ETH from my bank account, then if I want to transfer to other coins, ill transfer it to Bittrex and trade them there. Bittrex does not allow you do link to a bank account or credit card unfortunately.

GeekyChick

Oh yes, why didn't I think of that. Thank you!

naclh2onaz

And if you want to trade for other alts, you'll want to buy BTC not ETH

GeekyChick

Thank you for the info!

NetworkNewb

Nice call on ARK Hurricane!! made some nice gains off that today! And still making more atm

bhcs2014

GeekyChick wrote: »

I've been thinking about jumping in too. I was looking at brokers and Coinbase is pretty popular but it doesn't support many cryptocurrencies. I've read reviews on other brokers like Bittrex. Does anyone have a recommendation for a good broker that supports a lot of currencies but doesn't charge high fees?

Kraken if your going to put anything substantial into it. $5 flat fee for Wire Transfer deposits, low trading fees (around .1%), about 20 different coins. You do have to go through a lengthy verification process beforehand, though. It took me about 20 days to get verified to deposit.

Gemini has a quick and easy sign up, no deposit fee, limit of 500USD deposit a day. You can then buy bitcoin for .25% trading fee and move to Poloniex or Bittrex to buy altcoins.

Those are the two best options in my experience

Coinbase has some of the highest fees of any exchange that allow USD deposit.. 1.5% for bank account deposits. Stay away from coinbase if you can

hurricane1091

Haha no problem. I bought back in after my neo gains so I'm heavily invested. It reached $3 but is back down to $2. I am afraid of day trading it right now so I'm holding. ARK finally is being recognized but I just hope the price lasts. At one point today I "made" over $20,000 which is just absurd. Obviously didn't sell and cash out and the price fell a bit, but if this thing can stablize around $1.50-$2.00 I'd be pretty happy and optimistic about the future.