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37 minutes ago, malloy said:

The fact it is controlled by the banks is precisely why it is going to be successful (if any crypto is going to be successful at all). It is essentially a proxy for investing in Ripple Inc. 

Other than this one I would be stearing clear of nearly all cryptos

Its interesting your thoughts on that as is the opposite of 90% of people trading crypto think about the purpose of coins. I think you should stick to regular stock trading.

But I do agree, there is only a very small number of crypto I would invest in considering there is 1000s

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29 minutes ago, haz said:

Its interesting your thoughts on that as is the opposite of 90% of people trading crypto think about the purpose of coins. I think you should stick to regular stock trading.

But I do agree, there is only a very small number of crypto I would invest in considering there is 1000s

There is only one thing valuable about cryptocurrencies and that is the underlying technology which can easily be replicated (this means essentially the intrinsic value of a currency is $0). The technology itself is quite probably the way of the future, but be damned if financial institutions (banks, investment banks and central banks) are gonna let it be anything othee than something they can control or regulate. Normal ppl couldn't give a fuck about cryptos being decentralised and the majority of people jumping on board are doing so purely out of greed and are getting involved in potentially tge biggest bubble known to man.

Imo the biggest mistake made by traders is that thinking this is different to anything else before.

Sure some might make some money on the way up and they will think they are investor/trader geniuses despite it purely being luck that the music didn't stop whilst they were holding coins. Cos when the music stops shit is gonna hit the fan and people are gonna lose a shitload of money. You have already seen how quickly prices crash when there is a small amount of fear and how exchanges struggle to cope with above normal trading.

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19 minutes ago, malloy said:

There is only one thing valuable about cryptocurrencies and that is the underlying technology which can easily be replicated (this means essentially the intrinsic value of a currency is $0). The technology itself is quite probably the way of the future, but be damned if financial institutions (banks, investment banks and central banks) are gonna let it be anything othee than something they can control or regulate. Normal ppl couldn't give a fuck about cryptos being decentralised and the majority of people jumping on board are doing so purely out of greed and are getting involved in potentially tge biggest bubble known to man.

Imo the biggest mistake made by traders is that thinking this is different to anything else before.

Sure some might make some money on the way up and they will think they are investor/trader geniuses despite it purely being luck that the music didn't stop whilst they were holding coins. Cos when the music stops shit is gonna hit the fan and people are gonna lose a shitload of money. You have already seen how quickly prices crash when there is a small amount of fear and how exchanges struggle to cope with above normal trading.

Great argument. I agree with the points about the banks wanting a slice of the pie, imo there are no 'Experts' in crypto, just people who have been doing it longer. And yea I am preparing for it to hit the fan.

 

 

39 minutes ago, HeartFc said:

Hrmm interesting. Ill do some research and have a little flutter at a couple. How do I jump on ARDR?

Trade it on Bittrex, send it to the offical NXT Wallet before Dec 28. You wont be able to trade it between Dec 28 and Jan 1 while the Main Net launches.

But I think you would be a little late to Ardor, I am not sure if it will drop or gain after Jan 1. I suspect a large volume of NXT profits will be moved to Ardor. I got in on Ardor at $0.2 so im happy to hold it no matter what happens.

Edited by haz
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57 minutes ago, malloy said:

There is only one thing valuable about cryptocurrencies and that is the underlying technology which can easily be replicated (this means essentially the intrinsic value of a currency is $0). The technology itself is quite probably the way of the future, but be damned if financial institutions (banks, investment banks and central banks) are gonna let it be anything othee than something they can control or regulate. Normal ppl couldn't give a fuck about cryptos being decentralised and the majority of people jumping on board are doing so purely out of greed and are getting involved in potentially tge biggest bubble known to man.

Imo the biggest mistake made by traders is that thinking this is different to anything else before.

Sure some might make some money on the way up and they will think they are investor/trader geniuses despite it purely being luck that the music didn't stop whilst they were holding coins. Cos when the music stops shit is gonna hit the fan and people are gonna lose a shitload of money. You have already seen how quickly prices crash when there is a small amount of fear and how exchanges struggle to cope with above normal trading.

Just stick to stocks mate.

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  • 4 weeks later...
21 minutes ago, HeartFc said:

Crypto took an absolute beating this week. BTC, Ripple, Litecoin, Tron and few other dropping anywhere between 10% to 35%.

might be a great time to load up...

At one point today only 3 of the top 100 Cryptos were in the green compared to the previous days close.

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1 hour ago, HeartFc said:

Crypto took an absolute beating this week. BTC, Ripple, Litecoin, Tron and few other dropping anywhere between 10% to 35%.

might be a great time to load up...

 

51 minutes ago, malloy said:

At one point today only 3 of the top 100 Cryptos were in the green compared to the previous days close.

Considering everything went up 10% to 35% over the last two weeks its no surpise to see it going back down anyway. Just a typical week

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16 minutes ago, haz said:

 

Considering everything went up 10% to 35% over the last two weeks its no surpise to see it going back down anyway. Just a typical week

Wouldn't say it was a 'typical' week just because of the news that caused the 'crash'. I do get what you are saying though that it is a highly volatile market and these ups and downs do occur quite regularly.

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12 minutes ago, malloy said:

Wouldn't say it was a 'typical' week just because of the news that caused the 'crash'. I do get what you are saying though that it is a highly volatile market and these ups and downs do occur quite regularly.

Doesnt stress me out though. News happens all the time

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1 hour ago, Shahanga said:

Interesting. My history of watching boom markets is they get very volatile just before the crash. 

My tip: lock in profits as you go

Interesting you say that because I read an article the other day saying that most crashes are preceded by low volatility.

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2 minutes ago, HeartFc said:

Ye I did some research on RaiBlocks, sounds pretty good even though I'm a noob. Dipped this week too but not enough for me to move on it. 

Thoughts on SALT, LEND, OMG, QSP, NAV, ADA, LTC, TRON, XLM, IOTA, EOS ???

 

Im no expert, but from general knowleadge

-Avoid ADA, TRON, EOS they have no product, just 'Vapourware'. Perfect examples of the current crypto bubble, 3 companies with no product but multi-billion caps.

-LTC and IOTA are the only ones that are solid companies IOTA in particular.

-I dont have much knowledge about the others, but none have stood out to me.

 

In comparison my main holdings are

-NEO  (since July)

-ARDR (since August)

-MOD (Since November/December)

-ACC (Since December), this is my long shot, could turn out really good for me, or really bad)

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2 minutes ago, HeartFc said:

Nice work on NEO and ARDR, hope you have a decent stake.

I'm just gonna stick to BTC, ETH, LTC for now and might have a ping at SALT, LEND and QSP soon.

Shame Brittex doesnt trade IOTA, I want it.

As much as I could on Uni student wage.

 

If something is not on Bittrex it should be on Binance which IMO is the best exchange.

Check which places have IOTA here.

https://coinmarketcap.com/currencies/iota/#markets

Edited by haz
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Just now, HeartFc said:

Ok done! Enjoy your dim sims.

Cheers mate. TBH didnt even know what the Binance referal system was, have seen lots of Youtubers  and Twitter profiles provide theirs (btw all those people are wankers and pumpers) , they must make $1000s weekly.

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6 minutes ago, HeartFc said:

Yep 90% of those tossers are obvious pump and dumpers. Plenty of Reddit threads exposing the filth. I've only found 2/3 out of about 50 who are legit crypto nerds who discuss tech, market caps etc etc. 

Sounds amateur but I use Reddit /r/cryptocurrency as my first line of research can really separate decent coins from shit/scam ones. Then I do my own research afterwards. Pretty bummed I missed out on IOTA and XRB, just didnt have any spare money to invest (or gamble @jw1739 ).

For what its worth, I dont day trade, I just buy and hold for 12 months (due to tax) and see where im at then. Only thing I have sold is my GAS generated from my NEO, which I just buy ETH with so I can afford the transaction fees when I stake my ACC coins.

 

@Tesla I bet youre loving all this talk, just like your neighbors aye ;)

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On 12/01/2018 at 10:33 PM, haz said:

Sounds amateur but I use Reddit /r/cryptocurrency as my first line of research can really separate decent coins from shit/scam ones. Then I do my own research afterwards. Pretty bummed I missed out on IOTA and XRB, just didnt have any spare money to invest (or gamble @jw1739 ).

For what its worth, I dont day trade, I just buy and hold for 12 months (due to tax) and see where im at then. Only thing I have sold is my GAS generated from my NEO, which I just buy ETH with so I can afford the transaction fees when I stake my ACC coins.

 

@Tesla I bet youre loving all this talk, just like your neighbors aye ;)

Only annoys me when people say completely stupid shit.

Fwiw in theory I think there is solid value in some cryptos and would invest if the price was right but then you see the market caps and it just makes no sense, completely unrealistic in general.

 

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1 hour ago, Tesla said:

Only annoys me when people say completely stupid shit.

Fwiw in theory I think there is solid value in some cryptos and would invest if the price was right but then you see the market caps and it just makes no sense, completely unrealistic in general.

 

Yea agree. There's some very smart people taking opportunity of the crazyness such as the founder of TRON. Then you have guys like McCafee you are just talking the piss probably earning millions from the sheep.

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On 12/01/2018 at 9:20 AM, malloy said:

Interesting you say that because I read an article the other day saying that most crashes are preceded by low volatility.

That just seems wrong. Would need to see the data behind the conclusion to comment further.

i base my view on:

my reading about the nickel et al boom in the 70s (Poseidon etc)

my knowledge and reading of the 87 crash

my memory of the dot com/tech crash

(not sure what’s happened for the GFC, was working in a jungle)

i have also done a lot of reading of this stuff back when I gave a shit and that supported the volatility story.

(Incidentally if you are interested in the history of corporate crashes I recommend Trevor Sykes) 

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  • 2 weeks later...

http://www.theage.com.au/business/markets/baep-tops-mercer-survey-of-the-best-australian-share-funds-of-2017-20180124-h0np22.html

Article in The Age which briefly touches on passive v active portfolio management and points out that last year was a rare year where active had better returns than passive. 

Just following on from discussions in prior years that has been had on the topic.

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