Bitcoin losing it's lustre?

[Kvasir]

The Criminal Underworld Is Dropping Bitcoin for Another Currency - Bloomberg (https://www.bloomberg.com/news/articles/2018-01-02/criminal-underworld-is-dropping-bitcoin-for-another-currency)

[Xtreme4Life]

100% of my crypto investment portfolio was in Bitcoin for the longest time, other than the free BCASH I got from the hard fork. I rode it out into Dec, but when I started looking into other coins I really started questioning what would give Bitcoin its staying power and continued growth......I ended up moving over 75% of my holdings into 14 other coins. It has turned out to be a great move. I'm up over 30% vs where I'd be at if I just stuck with Bitcoin.

I still like Bitcoin and think it has some potential left. Especially if/when the Lightning Network and other potential upgrades pan out....but until then there are other coins that are so much better at the moment. Coins that are not only much more useful as currency (much faster trans with minuscule fees) and for anonymity, but also have much more growth potential as an investment.

[jsnm]

100% of my crypto investment portfolio was in Bitcoin for the longest time, other than the free BCASH I got from the hard fork. I rode it out into Dec, but when I started looking into other coins I really started questioning what would give Bitcoin its staying power and continued growth......I ended up moving over 75% of my holdings into 14 other coins. It has turned out to be a great move. I'm up over 30% vs where I'd be at if I just stuck with Bitcoin.

I still like Bitcoin and think it has some potential left. Especially if/when the Lightning Network and other potential upgrades pan out....but until then there are other coins that are so much better at the moment. Coins that are not only much more useful as currency (much faster trans with minuscule fees) and for anonymity, but also have much more growth potential as an investment.

Hey bro how did you move your bitcoin into other currencies? I’m looking into litecoin me a few others.


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[Xtreme4Life]

Hey bro how did you move your bitcoin into other currencies? I’m looking into litecoin me a few others.


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I've been liking Binance for trading alt coins lately. They don't do cash withdrawals or deposits - you can only deposit/withdrawal in BTC. So you send your BTC from where you bought them like Coinbase or something to Binance. Then you use your BTC to by other coins.

[Danzig74]

Tnb and litecoin are the best right now imo. I moved all my bitcoins into tnb not long ago.

[babybull34]

The crypto-currencies are definitely making a lot of noise right now. Although BTC was first to market that does not always mean that it will be the segment leader in the future, so definitely a smart play divesting into other coins, X4L.

I am very interested to see how this will all pan out and to see how long it takes before governments start trying to enforce regulation, taxation, and monetary control process on the crypto-currencies.

[Blades22]

Buy american

[SuperJuiced]

Guys, where do you learn info about the crypto-currencies? Internet forums? Local folks with experience? Do I just follow what you guys are doing? What gives you guys the thoughts that the coins you purchased are gonna increase in value?? Bottom line is that I have a little money to "play" with and wanna dabble in a bit of day trading. No one in my area with personal experience that I can find and hard for me to trust others on internet for what to look at, what to buy, what to sell (this is actually only forum I look at and read because I do think most are trustworthy and a TRUE brotherhood thus the reason I am asking you guys). I have been watching and making fake trades on paper, but still would love to learn more from others with more experience before actually placing real money into trading floors.

Thanks in advance for any feedback! Sincerely appreciated!!

[Xtreme4Life]

It's really just experience over time for me. I originally got into Bitcoin because of the darknet. It was a necessity for that purpose. I then started accepting it on my retail websites a few years ago due to customer requests. I held onto most of my coins as kind of a gamble the panned out really well. I liked the idea of it back then but had know way of knowing if or how much it would grow how quickly.

Since Bitcoin really started turning into something last year I just started reading more. Reddit is a great source of info if you can read past the bias that comes naturally to any sub geared towards only one coin.

As far as other coins, I took a bunch of classes on technical trading a couple years ago when I wanted to get into trading stocks. My current method could be completely wrong and I'm just lucky, but here's the way I look at coins currently:

- Look for the movers. Analyze volume and candlestick charts. Identify which ones seem to have potential. I don't fuck with Initial Coin Offerings or anything that isn't at least a little established since I'm not day trading.

- Do searches on the ones with potential. Try to figure out why people are buying into them, and if the tech behind them really has potential or if it's just a pump and dump ICO.

- I keep the majority of my money in the "bigger" coins that are a more sure bet but growth is typically slower than the smaller coins. Bitcoin, Litecoin, Ether, and Ripple. I then spread out the rest among other coins that are smaller but still somewhat established, but have potential. These are more of a gamble, but also have a much higher potential upside. Usually 2-5% of my total holdings for crypto go into each of those.

- I then check the portfolio throughout each day, try to pay attention to chart trends and news stories. Dump the coins that don't seem to being doing that great for others with more potential when it seems the right time to do so.

IMO, most popular coins should have a decent year in 2018 just due to the amount of money being thrown at crypto in general. The top 20 or so coins are all relatively safe bets for at least a little growth, with at least a few of those that are all but guaranteed to really take off. Ripple, Stellar-Lumens, ADA-Cardono, TRON, and WABI are some smaller coins that have done really well for me lately.

Like I said before, I could be completely wrong in how I look at it and just gotten lucky, but that's what has worked out well for me so far. Good luck!

[Blades22]

It's a bubble be careful what you invest in, btc is extremely unstable. It's kool to use it for minor purchases but before investing you better do your homework

[Xtreme4Life]

Whether or not Bitcoin itself is a bubble is debatable, but the technology behind it is real and alt coins as a whole are here to stay. The only thing that can really derail it from a USA standpoint is if the US Gov does what they do best and regulate the shit out of it.

[Blades22]

I'd warn against investing in more than you can lose, but as moody as this currency is it can end up anywhere, me i work to hard for my money, i like silver personally

[Xtreme4Life]

That should go without saying with any kind of investing, stocks or otherwise, but you're right even more so for crypto. The volatility is crazy but should stabilize as more money goes into it, but we'll see. I do also like precious metals though. I'm always looking for coins or bars I can scoop up for around spot, especially with silver as low as it is right now.

[Blades22]

I'm just wondering with war being so very close, if what we invest in can literally make or break you, something to think about. Sickning to get rich off of war but it happens

[SuperJuiced]

Xtreme, thanks for all the great information. Will def start checking out Reddit and also researching more on your suggestions. Blades, I def get and understand the fact that you never place more into such a situation than you can afford to lose. I do have a family and bills to pay and would never jeopardize any of that on such a gamble. Its kinda like sending donation for some of the wonderful things here on the brotherhood. Always be prepared to send funds and not get anything in return. At same time just like Xtreme mentioned this stuff is here to stay for a bit in my very infant, humble opinion. Not that my opinion is worth much.

Thank you guys. As always, I am utterly impressed by the friendships and willingness to guide, direct and help from each and every one of you gentlemen. The epitome of a true brotherhood found right here amongst my bros on BOP!

Respectfully,

SJ

[Blades22]

The way I see it is that we're all in it together bro

[jsnm]

I've been liking Binance for trading alt coins lately. They don't do cash withdrawals or deposits - you can only deposit/withdrawal in BTC. So you send your BTC from where you bought them like Coinbase or something to Binance. Then you use your BTC to by other coins.

Thanks man I’ll check it out!!


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[Reliable_DNP]

I am very interested to see how this will all pan out and to see how long it takes before governments start trying to enforce regulation, taxation, and monetary control process on the crypto-currencies.

Already happening. The IRS has been in FED court in CA for over a year seeking to enforce a subpeonae of coinbase's user records. Within the past month, the court found partially in coinbase's favor and ordered CB to provide the IRS with the records of something like their 14,000 largest customers. That coinbase is calling this a victory should tell you everything you need to know about where all the player's know this is headed. Think about it. If the IRS can compel 100 yo Swiss banks serving exceptionally wealthy customers to disclose their U.S, customers' account info, which they did, coinbase does not stand a chance.

[Reliable_DNP]

@xtreme Any thoughts on the best BTC alternatives for vendors here?

Looking at Monero (for privacy), ETH, LTC, BCH due to customer interest.

[Reliable_DNP]

I'd warn against investing in more than you can lose, but as moody as this currency is it can end up anywhere, me i work to hard for my money, i like silver personally

Silver was up what, 7.5%, last year?

[babybull34]

Already happening. The IRS has been in FED court in CA for over a year seeking to enforce a subpeonae of coinbase's user records. Within the past month, the court found partially in coinbase's favor and ordered CB to provide the IRS with the records of something like their 14,000 largest customers. That coinbase is calling this a victory should tell you everything you need to know about where all the player's know this is headed. Think about it. If the IRS can compel 100 yo Swiss banks serving exceptionally wealthy customers to disclose their U.S, customers' account info, which they did, coinbase does not stand a chance.


Silver was up what, 7.5%, last year?

I unfortunately have to agree with this, Reliable. It really is a ticking clock before the FED steps in to regulate the digital currencies and begins to manipulate their values as well. The ability of the FED to force foreign national sovereign banks to comply speaks volumes as to their reach and capabilities.

Also, 7.5% is really decent growth for a "stagnate" commodity. Basically, you can never go wrong with investing in precious metals because they have an inverse relationship with the market, it is a fantastic way to diversify your portfolio and holdings.

[Blades22]

Everything except for gold has pretty much been a rollercoaster, if your an investor it's exciting right now, and scary at same time. Btc is highly volatile, so it's going to be very interesting to say the least, yes silvers up also

[babybull34]

No risk, no reward. But I like tangible commodities. Market value may fluctuate but they never become "worthless" so they do limit the downside. The same can not be said for stocks and digital currencies.

[IronFox]

With increasing scrutiny by the taxman bitcoin is fast starting to lose its lustre and there's a move to make cryptocurrency as anonymous as possible to avoid tracking by government and LE, but the weak point will be the exchanges where crypto is converted to hard currency. Governments all over are watching exchanges closely for signs of money laundering or tax evasion. There needs to be exchanges on the dark markets that will clandestinely convert crypto to cash in any currency.

Crypto will become an arms race in effect.

[Xtreme4Life]

@xtreme Any thoughts on the best BTC alternatives for vendors here?

Looking at Monero (for privacy), ETH, LTC, BCH due to customer interest.


Monero and ZCash would be the safest for all parties from what I've read, but they're not as easily accessible for most people as the others mentioned. Unfortunately until the more popular exchanges start dealing in the "privacy coins" most people aren't going to be willing to deal with them IMO. People are going to want to use whatever Coinbase offers for the most part.

[SuperJuiced]

OK..., understand the feds/government bs of regulation and manipulated values as concerns long term investing in cryptos, but the way these things roller coaster isint it a day traders dream OR nightmare depending on how well they can predict/guess whats going to happen from minute to minute?? Also when you guys talk about "any day now" are you speculating this month, end of year, next year or when Jesus comes back? LOL Sorry so many questions but seriously intrigued and once again I value you guys thoughts and opinions more than any others poking around internet. You guys steer me right with the sauce I stick in my ass so I'm sure no reason to feed me garbage when concerning this stuff.

PS. below in the "similar threads" box its showing a post title of "Losing gains from masturbation" What the hell does cryptocurrencies have to do with masturbating? Maybe you fuck yourself either way?? LOL!! Thanks again guys..., the feedback is always greatly appreciated!!

Respectfully, SJ

[Xtreme4Life]

OK..., understand the feds/government bs of regulation and manipulated values as concerns long term investing in cryptos, but the way these things roller coaster isint it a day traders dream OR nightmare depending on how well they can predict/guess whats going to happen from minute to minute?? Also when you guys talk about "any day now" are you speculating this month, end of year, next year or when Jesus comes back? LOL Sorry so many questions but seriously intrigued and once again I value you guys thoughts and opinions more than any others poking around internet. You guys steer me right with the sauce I stick in my ass so I'm sure no reason to feed me garbage when concerning this stuff.

PS. below in the "similar threads" box its showing a post title of "Losing gains from masturbation" What the hell does cryptocurrencies have to do with masturbating? Maybe you fuck yourself either way?? LOL!! Thanks again guys..., the feedback is always greatly appreciated!!

Respectfully, SJ


IMO, the manipulation isn't much different than one sees in the stock market. The whales, funds, and corps and their algo bots are always going to have an edge and try to swing things in their favor. It just so happens that the crypto market is more susceptible due to lack of volume so the swings are bigger. I don't have the time try and mess with day trading. I just try to look for good 3+ month investments, pay attention, and make the best moves I can when the time seems right.

I plan on 2018 being the last really good year for crypto. There's so much new money still going into, which much more to come from both individuals and corps, that growth seems inevitable for the market as whole. Notice that I don't just refer to Bitcoin....IMO their biggest concern at this point is making sure people pay taxes on the gains from crypto. Their stance on how they tax crypto gains currently is clear. There's not much to worry about unless you don't plan on paying taxes on those gains. The government wheels turn slow. We'll know pretty far in advance if there's going to be any potentially crippling regulations introduced, and the crypto market is much, much bigger than just the USA.

[Reliable_DNP]

Monero and ZCash would be the safest for all parties from what I've read, but they're not as easily accessible for most people as the others mentioned. Unfortunately until the more popular exchanges start dealing in the "privacy coins" most people aren't going to be willing to deal with them IMO. People are going to want to use whatever Coinbase offers for the most part.

Yep. That sounds about right. Thanks for your thoughts.

[babybull34]

IMO, the manipulation isn't much different than one sees in the stock market. The whales, funds, and corps and their algo bots are always going to have an edge and try to swing things in their favor. It just so happens that the crypto market is more susceptible due to lack of volume so the swings are bigger. I don't have the time try and mess with day trading. I just try to look for good 3+ month investments, pay attention, and make the best moves I can when the time seems right.

I plan on 2018 being the last really good year for crypto. There's so much new money still going into, which much more to come from both individuals and corps, that growth seems inevitable for the market as whole. Notice that I don't just refer to Bitcoin....IMO their biggest concern at this point is making sure people pay taxes on the gains from crypto. Their stance on how they tax crypto gains currently is clear. There's not much to worry about unless you don't plan on paying taxes on those gains. The government wheels turn slow. We'll know pretty far in advance if there's going to be any potentially crippling regulations introduced, and the crypto market is much, much bigger than just the USA.

I wholeheartedly agree with this, X4L.

[Fancycat69]

Damn I’m so behind on this shit. I just started using bitcoin and now it’s going downhill. Luckily I don’t use it for investment purposes

[jsnm]

IMO, the manipulation isn't much different than one sees in the stock market. The whales, funds, and corps and their algo bots are always going to have an edge and try to swing things in their favor. It just so happens that the crypto market is more susceptible due to lack of volume so the swings are bigger. I don't have the time try and mess with day trading. I just try to look for good 3+ month investments, pay attention, and make the best moves I can when the time seems right.

I plan on 2018 being the last really good year for crypto. There's so much new money still going into, which much more to come from both individuals and corps, that growth seems inevitable for the market as whole. Notice that I don't just refer to Bitcoin....IMO their biggest concern at this point is making sure people pay taxes on the gains from crypto. Their stance on how they tax crypto gains currently is clear. There's not much to worry about unless you don't plan on paying taxes on those gains. The government wheels turn slow. We'll know pretty far in advance if there's going to be any potentially crippling regulations introduced, and the crypto market is much, much bigger than just the USA.

Hey bro do you use litecoin? Where do you transfer that to make a purchase,I don’t see it on blockchain


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