Izickas Alfonsas
BANNED
- Feb 23, 2019
- 20
- 1
Cryoto is gambling, i am holding btc for 2yaers.. its only for who have really lazy money.
Follow my every move
- Thread starter tenbagtommy
- Start date
tenbagtommy
Newbie
- Feb 13, 2019
- 13
- 15
27/05/2019 UPDATE:
Hello guys, I hope all is well!
This consists of the following:
BTC GAIN SINCE MAY 13: 30%
LTC GAIN SINCE MAY 13: 38%
ETH GAIN SINCE MAY 13: 47%
This translates into
$30K Fund = $11.5K gained
$3K Fund = $1.15K Gained
Overall, I’m still holding and won’t be selling until indicators begin to change – which won’t occur until at least one year from now.
My conservative projection for BTC is that it will be trading at $100K+ per coin within the next two years and percentage wise, LTC and ETH will follow. So we’ll be looking at greather than $2K+ per coin for LTC and $5K+ for ETH.
These are conservative estimates as indicators are showing that prices are due to run higher than the above figures.
So, overall, we are still at the first steps of a very long staircase. We have so many steps to climb throughout the remainder of the year.
Prices will continue to run higher.
General Update
I haven't posted recently as I've been attending various ICO related conferences, specifically I have just returned from a rather bizarre event in Thailand where I sat and watched hundreds of people buy into a ridiculous 100% premined token that isn't even available for trading on an exchange yet.
It's absolutely shocking.
This market is still so new to people that they really fail to understand that the basic approach will always win.
Personally I have zero intentions of investing in any ICO, or in any asset other than Bitcoin, Litecoin and Ethereum.
My mind is completely closed to anything outside of these three assets.
However, I will always attend the main conferences and events because this gives me a "boots on the ground" outlook on this massive capital outflow that’s occurring mainly across Asia, Africa, Eastern Europe and South America.
These regions have long been held captive, financially, by their corrupt puppet governments at the behest of the IMF and World Banking Organisation and quite frankly, the people that live in these regions have had enough.
They are turning to other assets such as Bitcoin. Essentially, they are taking away their government’s ability to dilute their wealth via inflation.
Warren Buffet has always said, inflation is the cruellest form of tax. Governments in the regions mentioned above constantly engage in inflating their currencies my printing more of it into existence in order to pay off IMF and WBO loans.
Just look at the Argentinian Peso against the Dollar
Look at the Ukrainian Hryvnia against the Dollar
Though this is bad for the people of the above countries, it only highlights how valuable assets like Bitcoin are going to become for these people over the next two years.
So this along with the global trade war will only continue to fuel Bitcoin as it's price continues to lift.
To conclude, I am holding my BTC, LTC and ETH positions and will continue to hold for the next two years if I have to.
sobyschwartz
Power Member
- Mar 7, 2013
- 764
- 272
Why hold all 3 and not just btc?
CryptoKujira
Power Member
- Dec 27, 2018
- 501
- 186
#1 rule in any investing. Diversify your portfolio.
Although in crypto, since the big three follow BTC so much, it could be argued that it would be more profitable to be all-in on ETH or LTC, vs. holding all three.
sobyschwartz
Power Member
- Mar 7, 2013
- 764
- 272
You are totally right. Just like i do with my stock investment
Metatrons Cube
Regular Member
- Feb 9, 2019
- 244
- 117
Buying and holding until you make money even if it takes years? Wow. what a nuanced strategy.
You shouldn't be giving people 'trading advice', honestly. Anyone can screenshot a few charts and talk nonsense.
There's no logic in selecting BTC, LTC and ETH apart from OP probably only ever really hearing about these. There are dozens of cryptoassets that are better investments with higher likely returns during this bullrun, but that would require understanding how to properly analyse them, instead of just being able to read a newspaper and use gimp.
CryptoKujira
Power Member
- Dec 27, 2018
- 501
- 186
Only if you believe 2017 will be a repeat for alt coins. I do not believe alt coins will repeat 2017 levels. The dynamics of the market are entirely different than they were in 2017. In 2017, it was ICO boom town, like the gold rush. Those days are gone. Sure, some alts will catch fire here and there, and the few real projects among them will show solid returns. But I think anyone expecting Alt coins to repeat those 10000x returns of 2017 are in a dream world. But that's just my opin. What do I know?
Metatrons Cube
Regular Member
- Feb 9, 2019
- 244
- 117
I don't think there needs to be a repeat of the ICO boom for investing in specific alts to be a better investment than BTC, LTC and ETH. 2019 is for sure not 2017, and even with the success of IEO's, it's not going to fuel the growth seen in alts a couple of years ago. But that doesn't mean that BTC, LTC and ETH are the best weighted assets to be buying into - I'm certain that they aren't actually.
This is very true.
This is also very true.
JohnnyPCK
Newbie
- May 20, 2019
- 14
- 5
Yeah I think it would be smart to invest on cryptos that are truly tried and tested. 2017 gave us the boom of ICO's and shitcoins. I don't think that would happen just as how it did back then. Shitcoins or altcoins can indeed spike some price up but that's it. It won't be that off the charts moon level rise moving forward in my opinion.
Yes, Fiat is bad, but that's the only thing that makes Crypto Valuable somewhat... TS stated there is no switch to shut down "Crypto", of course there is a switch... Closing (ban) Exchange USD to Crypto and Back will left Crypto useless... After all Crypto only have value because you can transfer Funds From Fiat and Back to Fiat and realize the Gain, other than that it has no meaningful Value.. In other words... Without FIAT, Crypto is Nothing, it's Like Empty Space/Room/Vault... So, yeah, there is a switch, will "Masters" used it? It depends, how involved they are... We'll see.. So far for every Success story there is bunch of people who lost everything, chasing Pumps and dumps and be a millionaire overnight "Virtual Mining" BS... As far as technology goes, Crypto is very useful as transfer of value.. I just wish Crypto could be backed by something valuable like Gold/Silver, this would change everything, but looks like it's not their plan.. And there must be a reason why real stuff: Silver trading at $14/oz and Gold $1275 manipulated and knock down daily while Crypto running untouched... Just a thoughts...Good luck..
Last edited:
CryptoKujira
Power Member
- Dec 27, 2018
- 501
- 186
True but at least in the US, there are way too many power players from tech that are heavily invested in blockchain projects, as well as a lot of very wealthy powerful billionaires who have a lot of political pull. I have doubts they would let the US enact such laws that it would ever ban exchanges in an attempt to kill crypto. The gov had a chance to ban it a long time ago and failed to understand or even be aware of it. Now it's too late. All they can do from here is try their best to regulate it, which eventually will probably happen. That day will suck because I think it will kill a lot of the wild volatility in the market, just like it has regs have killed volatility in other markets.
Metatrons Cube
Regular Member
- Feb 9, 2019
- 244
- 117
Definitely not correct, not even close.
Binance - crypto:crypto exchange, wildly successful, no integration of USD or any other fiat currency.
Hypothetically, USD:crypto trades are banned by the US - trades on any exchanges that don't rely on USD (see above example) are withdrawn in crypto to be OTC sold for USD in the US (literally IMPOSSIBLE to ban effectively) or are withdrawn and converted down in fiat other than USD (anyone else on the planet other than US citizens).
This scenario is not going to happen though, ever. Do some research into what an ETF is and what BAKKT is. Note how close to having a Bitcoin ETF in the US we are - an application is currently being considered from Cboe - if approved, be prepared for a tidal wave of US investment into Bitcoin - unimaginably large compared to anything to date. The US government has zero interest in banning cryptocurrency and it's a very rudimentary way of looking at it to think that they would (or could).
Crypto will never be useless, far from it.
Stuffedegg
Power Member
- Apr 8, 2019
- 661
- 873
How can you know this?? I am wracking my brain to know how.
Are you predicting the 15th Dec 2017 again?
What if BTC, or any of the other cryptos fall off the face of the earth?
CryptoKujira
Power Member
- Dec 27, 2018
- 501
- 186
It's a silly question "how can you know this?" because the answer is always the same. Nobody knows what crypto will do, especially more than a 2 weeks away, tops. Once you understand this, you'll spend a lot less time looking for answers when it comes to future pricing.
It's silly to even take his numbers seriously. Just do the math.
BTC = $8,000
1000% increase = $88,000
Currently there are 17,726,025 BTC in circulation.
Assuming each BTC is worth $88,000 x 17,726,025 = 1,559,890,200,000 market cap
That means the market cap for BTC would be $1.559 quadrillion. Give me a break. By comparison, Apple was the first company to surprass $1 trillion market cap, and barely did so last year. So he's claiming BTC would have a larger market cap than all the biggest companies in the world, combined.
Do the math and you'll see how silly it is to even take those numbers seriously. Or don't do it and keep asking silly questions about future pricing
FYI, he did mention in another post the obvious. It's just his opinion. So grain of salt there.
Last edited:
tenbagtommy
Newbie
- Feb 13, 2019
- 13
- 15
Good question.
See the following image:
You can see that though these assets are correlated (i.e they undergo similar price movements) the percentages are different.
By holding all three I aim to maximise my eventual gains and hopefully get the most out of this opportunity.
If I were to hold just one out of the three, I would feel as if I was leaving money on the table.
This really is a once in a generation opportunity so, for me, there is no room for fear or laziness. It's important that I hold all three.
I am not the type of person that would look to over-complicate something that is simple.
There's so many ways to skin a cat.
There are people who enjoy day trading, there are people who prefer automation, and then there's boring people like me that prefer long term investing.
These are three different approaches... all of them are useful in specific situations, but - due to my overal temperament as a person, day trading and/or automated trading is not suitable for me.
I prefer the simple approach.
First you have to understand what you're doing when you buy into a cryptocurrency.
There are several connotations that people aren't usually aware of.
For instance. Let's say you're buying DASH. Well, what does "buying DASH" mean?
Is that DASH/BTC, DASH/LTC, DASH/ETH, DASH/USD, DASH/USDT, DASH/EUR, DASH/XMR or DASH/CNY?
That's 8 seperate trading pairs.
The chart for each pair is different.
Let's say you're trading DASH/BTC, what you're essentially doing is betting against BTC.
You are exchanging your BTC for DASH with the expectation that DASH's price will rise in relation to BTC.
If the price of DASH rises as expected, then you will be able to sell your DASH and receive more BTC than you had before.
But.... what happens if BTC is rising in value while you're trading it against DASH?
Well, trading against Bitcoin while it is rising in value is literally the purest form of financial suicide.
See below:
Since April, DASH has not been able to keep up with BTC.
But, let's look at how DASH performed against the Dollar (USD) since April
So people that are "buying DASH" could be winners and losers, depending on which trading pairs they have chosen.
Alot of external research is required when trading cryptos. This is why i have extreme caution and doubts about people that refer to themselves as "crypto currency traders" and/or "crypto currency experts."
The fact is, the two largest markets throughout the landscape of cryptocurrencies is BTC/USD and BTC/CNY... as far as I'm aware, USD and CNY are not crypto currencies, these are fiat currencies.
Therefore in order for you to be successful in the crypto market, you must also gain an understanding of the foreign exchange market, which means that you must also become familiar with macro economics.
It's a game that goes very deep once you decide that you going to take it seriously.
Overall, I agree with you - there are thousands upon throusands of crypto markets to trade (once you consider all of the trading pairs) BUT, personally, I like to keep things simple.
Which is why I am ONLY focusing on BTC/USD, LTC/USD and ETH/USD
I agree. I have always said that crypto currencies are an expansion pack for the foreign exchange market. They go together like butter and bread.
Overall though, fiat definitely isn't bad.... depending on which fiat you're referring to.
The Venezuelan Bolívar is a terrible currency... while the Euro, British Pound, USD are 'good' in comparison.
There is no denying that Fiat perfoms a vital role in the global economy (for transactions), but it has proven, throughout history, to be one of the worst forms of value storage over time.
Regulation is an area that is impossible to predict.
But, I look at Blockchain technology in much the same way as Bittorrent.
We can all agree that piracy is illegal, worldwide, but Bittorrent is a system that allows piracy to thrive.
Despite how law enforcement agencies feel about that - there's nothing that they can do to stop Bittorrent.
ISP companies have barred access to websites that allow you to download torrent files.. but this hasn't worked.
We now have VPN's and the TOR browser, through which you can evade these controls and download as many torrent files as you want.
Blockchain technology is very similar to Bittorrent in this way.
Stuffedegg
Power Member
- Apr 8, 2019
- 661
- 873
Thank you for this. I don't have any intention in buying though. I just wanted to know what made him say it...It's a silly question "how can you know this?" because the answer is always the same. Nobody knows what crypto will do, especially more than a 2 weeks away, tops. Once you understand this, you'll spend a lot less time looking for answers when it comes to future pricing.
It's silly to even take his numbers seriously. Just do the math.
BTC = $8,000
1000% increase = $88,000
Currently there are 17,726,025 BTC in circulation.
Assuming each BTC is worth $88,000 x 17,726,025 = 1,559,890,200,000 market cap
That means the market cap for BTC would be $1.559 quadrillion. Give me a break. By comparison, Apple was the first company to surprass $1 trillion market cap, and barely did so last year. So he's claiming BTC would have a larger market cap than all the biggest companies in the world, combined.
Do the math and you'll see how silly it is to even take those numbers seriously. Or don't do it and keep asking silly questions about future pricing
FYI, he did mention in another post the obvious. It's just his opinion. So grain of salt there.
redjebo
Regular Member
- Jul 18, 2015
- 243
- 321
To be fair that's 1.5 trillion, not quadrillion.