what up boyz itcha boi, cryptocat
last thread here: warosu.org
i now have over 600k in crypto, most of it in eth.
ask me anything.
what up boyz itcha boi, cryptocat
last thread here: warosu.org
i now have over 600k in crypto, most of it in eth.
ask me anything.
Other urls found in this thread:
What's xrp's future? As in 3 years.
probably $1 if everything they say is true. i am not holding any right now because better gains are imo to be had elsewhere. icn for example is a strong hold for me and i just bought more today. i think its value is at around 10.
No coiner here who's slowly learning about crypto.
These are the coins I'm mostly interested in, can you tell me why they're good / shit?
>LTC (even before the recent increase)
>Mysterium (I like the idea but I haven't done much research yet, I fell for the shilling)
I probably will buy 1 btc and keep 50% in BTC and buy 1 or 2 other coins. I'm not sure about ETH because it's currently so high and it lost volume to Litecoin.
Though I'm a newbie so I don't know if what I do is good, that's why I only bought 0.23 BTC at 2352 and just keep it.
hey cryptocat. welcome back.
what's in your wallet right now? what will be in it a month from now?
what website you you buy/trade/sell on?
What are some decent books where I can learn about crypto/cryptotrading
Which coins should i buy and how much should i spend to make a good profit?
how old is your cat?
Mines early 20s and has cancer / kidney failure and I'm having to decide between tons of operations to try to keep him alive for maybe a year or euthanasia. Vet says euthanasia as he isnt responding to fluid injections and has stopped eating. I feel like I need to end his suffering but Ive had him for 20 years so its just heartbreaking.
i was thinking of doing a token coin thru waves called KITTEHCOIN - KTC. similar to Doge, i want to do a coin for the kittehs. my girlfriend and i are cat foster parents, we help raise feral litters and also work at our local animal shelter, and i am trying to get into crypto to help make more $$$ to support our efforts and feed the kitties. any advice?
how much iota have you bought? estimation for price by hanukkah?
At this very moment what would you do if all you had was 9/10'ths of an ether?
hey! Thanks for the thread! What was your initial investment and do you diversify your profits (real estate, stocks, gold silver etc.) or you keeping it all in crypto?
>do you diversify your profits (real estate, stocks, gold silver etc.) or you keeping it all in crypto?
>I know! ill take this thing thats made me rich and exchange it for a bunch of stuff thats never made anyone rich!
why you so fluffy :3
OP what would you do if you were just begining to invest in crypto right now with small amount of capital
What coins would you put your money in and wait for a couple of years to go way up
>LTC (even before the recent increase)
testbed for bitcoin network, potential to be used for microtransactions if cryptocurrencies catch on due to segwit and lightning network deployment. litecoin is a carbon copy of btc with faster transaction time. whatever can be deployed on ltc can be deployed on btc. this is probably why the price is going up right now.
an crypto index fund. don't want to bear the responsibility of watching the crypto market constantly and just transfer the responsibility to someone who is presumably more knowledgeable? just buy iconomi. it holds a basket of cryptos and you are exposed to more markets from a presumably trustworthy authority. i think it's worth $10 and i own a bit of this right now.
have not looked into this.
storage on the blockchain is cheaper than from centralized services right now. if this use case catches on, it will fucking explode. i am holding SIA and STORJ.
>Mysterium (I like the idea but I haven't done much research yet, I fell for the shilling)
a decentralized vpn market is one of the best possible use cases for ethereum because it's relatively simple to implement. yes, there are a few problems with it like the susceptibility to man in the middle attacks, but it will still have value when you factor in how many people just want to simply bypass the restrictions imposed on their country for example or just to watch movies on youtube that isn't allowed in your country. good criticism of it here: reddit.com
i am actually surprised that this list is pretty much exactly what i am holding. i'm like 85% in ETH with the rest being divided among BTC, SIA, MYST, ETC, STORJ, ICN.
you dont get the concept of diversification do you? You cant predict the fucking future. There is a possibility where the whole crypto market goes to shit tomorrow and Mr. 600k has no penny left...
Shhh don't talk about DCR on Veeky Forums
probably the same thing as right now. i mostly don't do pump and dumps because i don't like to gamble. i just try to see what coins fundamentally will have utility if they break out into the mainstream. i think this is the crypto equivalent of 'value investing.' i also try to see what the market will see as having fundamental utility when all the exuberance fades.
right this is anything to do with smart contracts, settlements, storage, decentralized vpn. smart contracts: ETH, ETC; not a fan of RSK because ethereum does the job way, way better. storage: STORJ, SIA. decentralized vpn: MYST. settlements: XRP is promising and i think it will hit $1 in the next few years provided everything they've said is true but better gains are to be had elsewhere right now imo.
right now the market is really crazy and as evidenced by ICOs selling out in minutes you can just buy shit to flip it without even needing to analyze its fundamental utility. maybe i'll add some ICOs that seem reasonable just to flip them once the hit the exchanges.
polo when i used to have lots of btc to lend, bfx when i had lots of usd to lend, kraken when i couldn't buy icn anywhere else, bittrex when i couldn't buy the coins not listed on polo.
what do you think of ARK?
thanks a lot for your response. At least now I'm confident that I won't lose all my money on stupid decisions or shilling. I'll still do some more research before buying anything more.
no crypto books specifically, but try to get a good understanding of how markets function. what is demand, what is supply, how change in each affects prices. what is the invisible hand.
then, when you get the basics down, follow crypto news and try to incorporate everything you know about markets to make a prediction about the future of the currency.
bitcoin halving is coming up: this means lower emission, supply will diminish, bitcoins will become more scarce and therefore more valuable. price will go up.
proof of stake being implemented for your favorite currency: money stops going into hardware for mining and going into currency instead: price will go up as people buy the currency to mine it. price will go up.
bitcoin banned by government: bitcoin doesn't give a shit about government, but the market might think that it does. price will go down.
etc. etc. these are all obvious oversimplifications but it gets really interesting and complex because every piece of news is a puzzle that you have to put together with your accumulated knowledge of crypto markets and solve it to the best of your ability. the more right you are, the more profitable you will be.
a good source of this informations are the following subreddits:
the trading subreddits are more retarded as of late because of all the normies getting in who don't know anything, but that should subside over time.
I'm a beginner, and I can put some savings into either ETH, LTC or BTC.
What do? I have about £300 to do it
you and "your" cat belong in an oven, pajeet.
whats your opinion on market specialists and investment engineers saying that cryptomarket will go down like dotcombubble in the 90s
this is really hard to answer. what do you want to do? just yolo it? just go all in on any coin that gets pump and dumped here. if you win, you'll be able to shelter some of that in btc/eth and gamble it up again with the rest. if you wanna be conservative, just buy btc or eth.
that's shitty, man. my cat is turning 11 this year and i will have to have his first dental cleaning done next week because i don't want him to suffer in old age. i'll be out $500 but i love my cat so damned much.
my advice is don't do this because it will most likely fail.
none. i haven't looked into it.
yolo it up on a Veeky Forums pump and dump or something like etheroll.
i invested $2000 in 2010 or 2011, can't remember. i never bought a single bitcoin after that.
>and do you diversify your profits (real estate, stocks, gold silver etc.) or you keeping it all in crypto
i bought a condo earlier this year and i keep enough in the bank to not have to worry about working for the next 2 years. i used to be one of those bogleheads who scrimp and save in their 4% a year index fund to scrimp and save when they retire but i think that is the wrong approach to life. i withdrew everything from my index fund to add it to my down payment.
i have 300k equity in my condo and 150k cash. the rest of my holdings are in crypto. my strategy is, either i'm going to get financially independent off this shit or i will go get a regular job. this is probably the only opportunity i'll ever get to hit it big with a significant chance of success and i don't wanna fuck it up by underbetting here.
so, ya, real estate, some cash in unlikely event that crypto dies and i have to enter the workforce, and the rest is yolocrypto.
Can you explain more about this:
>money stops going into hardware for mining and going into currency instead: price will go up as people buy the currency to mine it. price will go up.
I was planning on dropping a few k's on s9 mining rigs to mine eth, shitcoins or probably btc
couple years? definitely ETH. wait until aug 1st to see what happens with BTC. if they get their shit together by at least activating segwit, put it in BTC.
haven't looked into it.
i think it's a definite possibility and the comparison is very apt. this isn't the tulip bubble like every retard thinks. this is the internet bubble of 2000s all over again.
and just like the internet in 2000s, while blockchain applications make sense in theory, their practical application is still a long way off. if you're going to speculate on cryptocurrencies, you need to decide whether or not it's like the internet of 2000s. in the financial sense, making a bet and being too late or too early is the same as being wrong. if it is like the internet, then it makes sense to wait until the exuberance fades and its value is not purely based on speculation about its future potential. if it is not, it makes sense to get in right now.
i contend that it is not like the internet of the 2000s. one of the reasons the dotcom business models did not come to practical fruition until 15 years later was because it needed the ubiquity of the internet to function. due to this current ubiquity information travels much faster than it did 15 years ago, and ethereum only needs a single good use case for a decentralized application in order to provide actual value. coupled with the fact that everything is built on top of ethereum now and the expanding size of the ethereum enterprise alliance, it's only a matter of time before at least one such application emerges.
Keep those teeth clean. I've fed mine tons of people food (steak, salmon, etc) and his teeth even in his 20s are surprisingly well, never any tartar or cleaning needed.
Hes had only one real issue over 20 years, kidney stone operation.
I guess at the very least hes lived a better life than most people which has to be enough.
provide some arguments against why it's a bad idea then.
in proof of stake, you lock up the currency of the network you are mining on to validate transactions. in other words, you are staking your coins to secure the network. in proof of work, you use the work of the computer (hashing) to secure the network. with proof of work, you need to make hashes to secure the network. with proof of stake, you just need the currency of that network. so when a network switches from proof of work to proof of stake, all the money that went into GPUs and ASICs to secure the network is now going into the currency to achieve the same goal. the result is that the price of the currency goes up because of the influx of money into it. then speculators see the increase in price and get on it and it's a nice self-perpetuating cycle. look at the history of coins that switched from proof of work to proof of stake. you will notice that they all went up in price after doing so.
what do you do to cash out without paying taxes?
I understand that but as long as some big coins are still proof of work it would be profitable to mine them and get your own coins instead of gambling and buy them using speculation, right?
Hello fellow whale, When do you think we will have the real big normie bubble where people will watch shitcoins commercials on the superbowl? And would you think that would be a good time to liquidate 90% of a crypto portfolio?
do you invest in ICOs?
deal on localbitcoins to cash out, use a proxy and do not use your real name on exchanges because once they become friends with your government (and they will, it's just a matter of time because the amount of people getting rich off this shit is too big to turn a blind eye to), they WILL fuck you. this is is going to get hard as you get richer because they require verification for larger withdrawal amounts.
wouldn't call myself a whale, more like a dolphin, lol. i think 2 or 3 years max. then the market will be saturated and you'll never see 6000% yearly gain in anything crypto related. it was on the front page of gq magazine today for fuck's sake. it's really penetrating the normie world now and it makes me fearful because the last time they got on, btc got to 1300, crashed and we were in a bear market for 3 years.
i think the true sign of us being in a bubble that will be too hard to ignore is when regular women start getting into it. biologically women are risk averse and when they get in on something, it's a huge huge warning sign.
sure, if the coin is worth more than the amount of electricity and equipment you spent trying to mine it, it's profitable by definition. as to whether it's more or less profitable than gambling or buying, it's up to you to calculate. e.g., was it disposable income that you spent on gambling or buying it? will you be a lot worse off without that money (i.e. not being able to afford food or rent)? then it's probably best not to gamble or buy. if you're still going to be able to live, you can buy or gamble. just have to do a cost/benefit analysis and go from there.
yes, i do, but not all.
i bought ethereum at the presale. i bought myst recently and i plan on buying status.
Well that really sucks, but at least i got in relatively early in 2014 so i guess ill be all right. I also have 2020 as my bubble pop year. You didnt say anything about if you are gonna liquidate when the bubble happens, please, talk on that.
Can I has coins? 1JSeyPbEhDT1k2M7vV3EuYyKep2xiWnAxS
Im the guy eho asked you about mining. I forgot to mention i have a way to mine without paying the electricity, so it would all be pure profit, minus the cost of the asics rigs, if i buy 5 s9s is around 6k
i've thought about this for a bit and still haven't decided. my plan is to be financially dependent after the gold rush is over. i plan on cashing out slowly over the next 2-3 years so when the bubble inevitably bursts i won't be too hurt. ideally i'll have 5 condos generating income, a mil in the bank, and maybe 15% of my net worth in solid crypto ideas. but everything works well with ETH, i can probably just stake my ether and live off it for the rest of my life.
let say after 3 years the market will be saturated.
in the mean time in what should you invest? The big currencies thatll survive the bubble? And if you dont have the money to invest in them is it smart to invest in altcoins so you can get gains from them and then convert into ETH or BTC?
and can you link the article of gq telling about the market crash?
i don't mine, but do some calculations as to how long it's going to take you to get that 6k back. keep in mind that the price of ether will not be constant and nor will the total hashrate of the network. you might get way less out of it if the network hash rate increases and by the time you are done you will have recovered 5k of your investment, for example.
if i just had that 6k right now, i would just buy ether with it and hold it. especially given that if the flippening happens we can straight to 1k.
Sounds like a good plan. Obviously cashing everything out just before the bubble pops would give you much more money, but it's also very risky. Your plan is better on the nerves. I also plan on being financially independent but havent decided on my strategy yet. im 100% crypto right now, very risky. Also in not really an ETH fan so i have a lot of ETH tokens but no ETH. You are much better than me right now because you already have something to fall back in the real world. I could end up with more money but yeah, it could all collapse too.
in the mean time in what should you invest? The big currencies thatll survive the bubble?
yes. try to understand what fundamentally drives markets to currencies like bitcoin despite all the ebbs and flows and use those fundamentals to determine which coins will survive. bitcoin has solidified itself as a great store of value (it's like digital gold and there are so many goldbugs in this world that love bitcoin's simlarities to it). even if the transaction cost is going to be $100, it's still way way less than what people who store money in swiss banks are willing to pay. it's also an extremely fast and safe method of transferring large amounts of money. what else allows you to safely transfer 1 million dollars in a single 10 minute transaction to someone across the world? literally nothing, even if that transaction is $25.
>And if you dont have the money to invest in them is it smart to invest in altcoins so you can get gains from them and then convert into ETH or BTC?
'smart' is relative. it all depends on your risk tolerance. can you tolerate losing all of that money and to what extent? how much are you comfortable losing? if you lose all your rent money on crypto, you're fucked because you won't have a place to live. if you lose half of the money you spend on beer in a month, you'll be okay. figure out your risk tolerance and go from there. that's the 'smart' way of going about it.
me? i have probably 70% of my net worth in crypto. that is *insanely* risky. if it all goes belly up tomorrow, i will still have a home and i will be able to get a job after i am done educating myself for 2 years with the money i have saved up to last me that long. but that's the risk that i am strategically taking. either i'm going to fucking hit it big and not work for the rest of my life, or i'll be a regular joe going to work to pay my bills.
Ive only started trading with crypto yesterday after Ive heard about the gains people made during the first half of the year.
Do you expect the next months (hardfork, USAF) to better rather static or maybe even bear like?
I somehow have the feeling that I just missed the perfect oppurtunity to make some decent profit but I dont have any fucking experience so far, so its just a feeling...
ya, this is the way i thought about it too and then i decided i couldn't fathom losing that much with nothing to fall back on and i cashed out of BTC at 900 a few months before it went to 2300 to make a downpayment. sure, sucks, but no regrets. at least i have a home in case shit hits the fan.
Hi user, it's my birthday today and a couple of anons gifted me some BTC, like 0,014 in total. What do I do with it? Do I buy siacoin and hold for a month or two?
Another question here, what is your strategy on things that have "already mooned" like ripple, XEM , SIA, STORJ etc ? Do you think they could be a good buy if you dont have them after a correction? What would be a good strategy on that? Most of my net worth is on bitcoin, waves, iconomi , maidsafe and various eth tokens so i missed most of the bull market in btc terms (gladly not in fiat).
everything is going to depend on the outcome of the fork, although all of the options are pretty win/win/win for eth.
if btc gets forked, ethereum has a good chance to overtake it in market cap and become #1. if you are #1, you gain the network effect. so the price for it should rise even more and bitcoin's should fall further.
if btc doesn't get forked, segwit might not activate. the flippening has a higher chance of happening.
if btc does get forked, the flippening has an even higher chance of happening.
if segwit activates, some of the btc gains will probably trickle down to eth.
so do you get your news mostly from reddit?
What are some other good sources for news/predictions/discussion?
Do you maybe also have some recommendations to follow people on Twitter who make good predictions or post good news about crypto?
Also what do you think about crypto blogs you gotta pay for? Are these just a scam for noobs?!
According to your calculations how probable is eth going up after the btc flippening/fork? You suggested me to put the 6k in et in an earlier reply.
Goddamn im so jealous of the guys who bouvht eth injanuary.
thanks for your answers. Very helpful for me, as a newfag, to talk to a pro!
>use case for sia
Literally only child porn. No busines can use it, because it meets no standards of InfoSec that any company with more than 5 employees is going to require.
is there really anything more to this market than buying dips?
>because it meets no standards of InfoSec
What is that?
A mix of industry and regulatory standards that companies Have to meet when they store data. ISO270001, NIST, PCI, HIPAA, GDPR, etc.
all of the coins you listed have no value besides speculation right now. this means that they are not used for anything besides trading on what they promised they might be able to do in the future. what some of them do have is the potential to have actual real value based on the utility they may provide in the future. for XRP, it's settlements for banks. for SIA and STORJ, it's cheap storage on the blockchain. so in a realer, non-bubbly sense, they haven't mooned at all.
XRP can go to $1 if it starts doing what Ripple Labs wants it to do. SIA and STORJ and truly go to the moon (i don't even know how high) if they become adopted.
a good strategy is to find what coins people will derive value from after market hysteria (i.e. propensity to throw money at shit just because it's going up-- the opposite of pump and dump coins that are memed/shilled here on Veeky Forums) subsides and buy them. i have addressed my reasoning for holding some of these here: such a strategy works well in two ways. first, in the fundamental way of providing value if it succeeds. second, even if it doesn't come true in the fundamental way, the market will most likely come to the same conclusion as you and invest in it too. there's a concept called the keynesian beauty contest. you can read about it here:
basically if you want to predict a beauty contest winner, you shouldn't bet on who you think is the most beautiful. you should instead bet on who the general populace will find beautiful. and crypto is the same way. you will be right by picking a beauty doubly because the market will most likely pick the same beauty as you.
pls respond Im falling asleep even though the thread is interestng.
Great thread, OP. Refreshing to see someone answer questions us newbs have and not just spew nonsense.
Ok, got it. Thank you very much for your insights. I really apreciate it. I hope one of my investment moons soon enought so i can diversify more.
Oh, didn;t know they have to follow some guidelines. Maybe that isn't the case in other countries but thank you very much for the information.
Hey cc, what do you think about Golem? I find it is a very interesting and promising project.
Europe has the most strict rules. USA has a bunch. China is starting to get some as well. Any company doing business in those areas are subject to those rules, which is basically all major companies.
So SIA and STORJ are direct competitors trying to do the same thing, so whoever gets there first moons and the other dies?
>so do you get your news mostly from reddit?
>What are some other good sources for news/predictions/discussion?
bitcointalk, smart people you see on subreddits/forums that seem to never lose arguments. steve sokolowski from prohashforums posts are usually well thought out.
>Do you maybe also have some recommendations to follow people on Twitter who make good predictions or post good news about crypto?
i don't follow anyone on twitter for crypto news. twitter is actually pretty bad for this because you really want to see the market's opinion on different events. reddit/bitcointalk is way, way better for this sort of thing because you can gauge rightness and wrongness way better on a downvote/upvote forum than you can on a 140 character platform. never just take someone's word for something, understand why they're thinking what they're thinking and try to emulate it. you see a top voted post in a news thread about ethereum? ask them if you don't get something. do it for a few years and you'll be able to analyze information on your own and make appropriate trades based on that.
>Also what do you think about crypto blogs you gotta pay for? Are these just a scam for noobs?!
scams. i've never paid for a single crypto blog in my life. all the information you have is available for free on the subreddits and forums i've listed here.
hard to get rich off that, i'd probably just yolo it and gamble it up in a crypto casino or one of the meme coins on Veeky Forums.
well, i have most of my crypto holdings in ETH still so there's your answer.
could be. it could also be the case they get into a pepsi/coke style competition that works out extremely well for the market in terms of price per MB stored.
i'm not big on it. this article sums up my thoughts pretty much:
Thanks, best thread i seen in a while.
I'm telling you, SIA has zero chance of being adopted by business. Enterprise storage is the only way to be profitable with data hosting.
>and can you link the article of gq telling about the market crash?
oh, it wasn't about the market crash.
it's just that the mere fact that a "normie" magazine is writing about ethereum that signifies that we are in a bubble.
If you are in the mood make me happy! and deliver some little eth to your europoor brother please.
Thank you rich user!
I'm a data privacy attorney. You want more info? Send me some BTC. For every .1btc I get, I'll work for an hour on a memo (max 5 hours). I'll then transfer back 1 sat with a comment that links to the memo.
i was going to but then i opened the video and changed my mind.
kek, Ive seen some much begging on Veeky Forums. Is that a common occurence in the crypto community? Seems kinda pathetic...
You know it was just a normie europoor stuff. Kek
Something about asking for books to read in regards to crypto is funny.
Damn kek where did you go user
If you read this you have to send me ether.
A deal is a deal now pay up buddy
god damn it, you should come more often here.
it's like a FAQ for crypto related stuff, thanks.
Opinion on BAT?
how would sia or any other similar tech violate those rules? what could they do to be in compliance?
I've been in your exact same situation. Trust me when I say you don't wan't to see what is coming for him.
If you don't euthanize him he will reach an amount of suffering you will never forget...
Do you have any tips for someone sitting here deciding if they want to get into this whole mess?
I plan on putting $100 each in both BTC and ETH to start off with. But how do you get it out? Does it pay to be honest and responsible with your crypto activities?
Basically how "worth it" is it to even start playing this game anyways?
This is my first thread I've visited of yours but from what you've written it seems like you've made a fair bit of money off of this. Are you the exception, or a realistic expectation for someone like me who is deciding to go in?
How much did you originally invest, how much did you cash out.
he mostly answered your question here