Beginner to crypto

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Problem with BTT as I see it is that it won't actually go much higher. The volume of that fucking thing is going to make it virtually impossible to go beyond, at most, twice of its current value. A shame though would have loved to get into that early.

I myself look mostly at Decred. Not entirely sure why it sunk so much, seems to be linked to their issues with Binance. Don't think it has long-term potential though, mostly just for a quicky short profit.

Crypto in general sucks though. Investments are too risky, but it's nice to sometimes double your money if you find a "sure" thing to bet your money on. Only managed to do it twice though, and I always just go in with a coffee basically.

Regarding LINK I'm a bit stuck myself. Feels like it will go to $3 or 4 from just the hype alone. Might invest a fiddy or so, but long-term it seems kind of...naive and optimistic.
 
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Krimjob said:
Problem with BTT as I see it is that it won't actually go much higher. The volume of that fucking thing is going to make it virtually impossible to go beyond, at most, twice of its current value. A shame though would have loved to get into that early.

I myself look mostly at Decred. Not entirely sure why it sunk so much, seems to be linked to their issues with Binance. Don't think it has long-term potential though, mostly just for a quicky short profit.

Crypto in general sucks though. Investments are too risky, but it's nice to sometimes double your money if you find a "sure" thing to bet your money on. Only managed to do it twice though, and I always just go in with a coffee basically.

Regarding LINK I'm a bit stuck myself. Feels like it will go to $3 or 4 from just the hype alone. Might invest a fiddy or so, but long-term it seems kind of...naive and optimistic.
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I've stuck to mainly BTC and LTC this year (and a bit of cost averaging some of the better alts I have that took a shit in 2018 ), and I've done pretty well (this year). Granted, I was buying through the $4k-ish period, but all that BTC has doubled (LTC has tripled). But I plan on holding this shit for a while.
 
after all those memes, some real questions,,,
whats the best site to transform any kind of crypto into other unregistered assets?
 
Try to check crypto news. The coins that make deals in the main stream are coins that have staying power, if not in US Dollars, then in another.

A political shill named Politics Ghost used to give good cyrpto advice: he recommended using 42-Coin as a means of holding your profits, and I think he's right, it's kept my portfolio steady. I also remember he had a guy who had a weird trading strategy: Make sure each trade gave you 1% profit. Now this seems stupid, but what it does is this: Pick a high volume coin, he chose LTC and BTC, it think, so let's take LTC: Right now it's 135.99 sweet A'Murican Dollars, so whats x.01 of that? 1.36. So you buy it as or, or you can order it at a little lower price, but it will take more time. Then, as soon as you've got the LTC, or your coin of choice, take the amount you bought, sell it for 137.35 as a limit order, and you wait for it to sell. the time it takes varies, 3 minutes, 10 minutes, 20, 30, but usually it works.

Also heard you can take your coins, and move them to an exchange that is selling them for a higher price, then take them, put them in a cheap shitcoin, and move it back to your exchange of choice, you just need to mind them rates, and I've never tried that successfully.

Even holding a coin that are proof-of-stake isn't to bad if you've got the money. I've got only 8 EMC, and get 0.02 EMC every month and 0.03-0.04 every 3 months. Also @Dreamland I don't know the best, but when I took QTUM from an exchange to my desktop wallet, it was literally instantaneous with a low fee.
 
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Sophisticated Simpleton said:
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Also heard you can take your coins, and move them to an exchange that is selling them for a higher price, then take them, put them in a cheap shitcoin, and move it back to your exchange of choice, you just need to mind them rates, and I've never tried that successfully.
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Whenever I've seen a significant discrepancy in exchanges, it seems to always mean one of the exchanges has the coin locked for withdrawal and/or deposits.
 
TheRedChair said:
As a person who made his fortune in long terms investments I'll politely say this.
"A fool and his money are soon parted" if you invest into bitcoin right now

If you have some money and you really want to play it terrible safe. Place your money into a CD for 9 to 12 months. at a rate of 2.3% or higher. As of this posting several (online) banks are in the 2.7%+ range on a 12 month CD. It's FDIC insured and you will be making money off of your money. You will feel so happy getting something in return after 9 to 12 months... instead of worrying day by day when you are going pull out or stay and probably get your ass handed to you in losses.
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Curious what your long term investments were in, and why?

Always looking to diversify.
 
Sophisticated Simpleton said:
Also heard you can take your coins, and move them to an exchange that is selling them for a higher price, then take them, put them in a cheap shitcoin, and move it back to your exchange of choice, you just need to mind them rates, and I've never tried that successfully.
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Doesn't work anymore. Just about every exchange (that is trusted at least) like Kraken, Cryptopia, and Gemini bleed you for transactions from the larger coins.


Also don't buy crypto cause you wanna get rich and shit. That was 10 years ago. Crypto is gonna teeter totter like a parasite on the economy, it'll never replace Fiat. I bought Crypto, but it was so in the event that I (allegedly) kill a hooker or my neighbor, I can flee to Guatemala cause my Bank's are likely gonna betray me, my family is gonna work with the feds, and I'm gonna need some desperate cash. Most country capitals, no matter how shitty the country, will have at least one nerd that will trade IRL money for under market price for your crypto.
 
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@WutangLee nails it imo. Other than giving money to the site or doing illegal or borderline illegal things there's not that much use for crypto right now.
 
WutangLee said:
Doesn't work anymore. Just about every exchange (that is trusted at least) like Kraken, Cryptopia, and Gemini bleed you for transactions from the larger coins.


Also don't buy crypto cause you wanna get rich and shit. That was 10 years ago. Crypto is gonna teeter totter like a parasite on the economy, it'll never replace Fiat. I bought Crypto, but it was so in the event that I (allegedly) kill a hooker or my neighbor, I can flee to Guatemala cause my Bank's are likely gonna betray me, my family is gonna work with the feds, and I'm gonna need some desperate cash. Most country capitals, no matter how shitty the country, will have at least one nerd that will trade IRL money for under market price for your crypto.
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Thought I've had. Suppose you're an off-gridder with a more-than-sufficient means of producing power beyond what you need realistically but you can't sell to the power company. Could coin mining be used as a way to "Store" electricity that would otherwise be lost from not having electricity running at full capacity (Say during peak sunlight hours with solar, or just generally with hydro)
 
The best and greatest said:
Thought I've had. Suppose you're an off-gridder with a more-than-sufficient means of producing power beyond what you need realistically but you can't sell to the power company. Could coin mining be used as a way to "Store" electricity that would otherwise be lost from not having electricity running at full capacity (Say during peak sunlight hours with solar, or just generally with hydro)
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If you "storing" keeps electricity from those who "need it". No. If you're keeping it from the power company. Yes. In short, fuck the power company.

If you're paranoid enough, a few guys have gotten away with shit like that. But you gotta be equal parts dumb, and genius. John MacFee is probably the worst/best case scenario all in one. He accidentally became a local warlord/kingpin in Latin America out of having to "not" run away from the law, for the (alleged) crimes, he (is accused of having) committed. It's a lot easier to romanticize the locals, who are absolutely critical. They love their dashing financial rouges trying to stick it to a system.
 
WutangLee said:
If you "storing" keeps electricity from those who "need it". No. If you're keeping it from the power company. Yes. In short, fuck the power company.

If you're paranoid enough, a few guys have gotten away with shit like that. But you gotta be equal parts dumb, and genius. John MacFee is probably the worst/best case scenario all in one. He accidentally became a local warlord/kingpin in Latin America out of having to "not" run away from the law, for the (alleged) crimes, he (is accused of having) committed. It's a lot easier to romanticize the locals, who are absolutely critical. They love their dashing financial rouges trying to stick it to a system.
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I'm afraid I must plead ignorant. I don't understand the significance of this that it would in itself deserve so much attention.
 
Hey guys so I got a question.

I’ve recently come into some money, let’s say it’s like 50,000. So am I right that I should just buy bitcoin low and sell high? That’ll work? If I buy bitcoin at 10,000 and it moves up to 10,100 and I sell I just made 500 bucks? Is it that simple or what am I missing?
 
LatinasAreTheFuture said:
Hey guys so I got a question.

I’ve recently come into some money, let’s say it’s like 50,000. So am I right that I should just buy bitcoin low and sell high? That’ll work? If I buy bitcoin at 10,000 and it moves up to 10,100 and I sell I just made 500 bucks? Is it that simple or what am I missing?
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I mean, I would just put it in Vanguard - But uh , Yeah man, if you wanna do this day trading thing and think you will be good at it, I don't see what you are missing.
 
CharlesBarkley said:
I mean, I would just put it in Vanguard - But uh , Yeah man, if you wanna do this day trading thing and think you will be good at it, I don't see what you are missing.
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So your saying that I can just neet it up? Currently my only expenses are rent, which is like 300 a month, and then food and weed is like 300 too. If I could, in theory, make a few thousand a week I could live off that?

Also what is vanguard? I could use any tips or help. The only experience I have right now is watching the price of bitcoin rise and fall on cashapp, and occasionally spending money to see if what I want to do works.
 
LatinasAreTheFuture said:
So your saying that I can just neet it up? Currently my only expenses are rent, which is like 300 a month, and then food and weed is like 300 too. If I could, in theory, make a few thousand a week I could live off that?

Also what is vanguard? I could use any tips or help. The only experience I have right now is watching the price of bitcoin rise and fall on cashapp, and occasionally spending money to see if what I want to do works.
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I mean, once again, yeah man. If you think you can be awesome at day trading but uh- I dont think that works out well for most peeps, esp people new to it. I'm new to this investing shit and crypto and dont really know shit, so take everything I say with a grain of salt.
 
LatinasAreTheFuture said:
Hey guys so I got a question.

I’ve recently come into some money, let’s say it’s like 50,000. So am I right that I should just buy bitcoin low and sell high? That’ll work? If I buy bitcoin at 10,000 and it moves up to 10,100 and I sell I just made 500 bucks? Is it that simple or what am I missing?
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Youre missing that its highly volatile and prob shouldnt be a source of income unless youre an experienced trader. Yeah, you could drop in at $10k and it goes to $10,100 and you made $500. Whee. And then next week it drops to $9500 and youre left waiting for it to get back to where it was, which could take an hour, a day, a month... If youve been watching the price you should know this. You might have asked this question five weeks ago, gone all in at $13k, and youd still be waiting just to get back to where you started.

Even if it kept going up at a steady rate, your method isnt sustainable. Buy 5 bitcoin at $10k, price goes up $100, you have to sell that $500 worth to get useable cash. Now you have less than 5 BTC. Price goes up another $100... but this time you only make $495, because you no longer have 5 full BTC, and so on. (and trading fees will give those nice round numbers some nibbled edges)

If I had a $50k surplus just fall in my lap, had no job and your level of expenses, I'd probably buy a couple bitcoin (maybe 3), sink a bit into some more stable but lower yielding investments, live off the remaining cash for a bit while learning everything I could about trading, and dollar cost average from there in the meantime. Sure, if the price shoots up after you buy and never comes back to the same level, you'll be kicking yourself that you didnt buy more at the time, but not as hard as if you went all in and then the price dropped and took forever to come back.

If you're not an experienced trader, bitcoin is an investment, not a source of income. How fucking hard is it to put in <60 hours a month at some shit job to cover expenses?

Y'know what, never mind. Go all in and join some telegram pump & dump groups. You'll be a millionaire in a week.
 
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