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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!
Last edited by Xtreme4Life; 01-03-2018 at 06:26 PM.
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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.
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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.
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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
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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.
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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.
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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
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Originally Posted by
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
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.
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Originally Posted by
Xtreme4Life
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.
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Originally Posted by
Xtreme4Life
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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