Crypto currencies

[Aleksandr]

@gbolduev
Are you into cryptocurrency ? Heard you were vaguely into finance
Since the bubble popped the last months and recently had an uptrend the last two weeks, I wonder what kind of position members of this forum involved in crypto are taking right now
I personally trade on Bitmex, rarely with leverage and hold two alts , both still underestimated I believe

I think the way normal finance works is you find something like vanguard stocks, and invest in it like $150 a week, for 20 years or something. Come out the end of it with a cool mill or two to retire on. Right? @Helen

 

[MNK99]

20 yrs to a million is less than ideal, time-value-of-money / present-value=future-value calculations need to be factored in.
I know what you mean though, @m_arch. I don't know exactly what hedge fund people do.. (kind of do, but I'm not getting into Top 3 schools, so I don't think about it). I have a couple in my familials.
Inflation/currency debasement. If something has strong Fundamentals, then yes that may possibly work.

But, if someone makes 1-10mn 1-2 yrs early on... they can easily generate retirement money, if they aren't out of their minds like Mike Tyson (lost a lot of money) or all these rappers. Earn a lot in the younger/ high-risk days; and let profits ride (a certain percentage dependent on financial, family, work, hobby, etc. responsibilities) in safe money over time for retirement.

Tons got burned in Worldcomm, Enron, Nortel*, etc, etc, etc. And if it's a certain industry (like certain American banks, they're too big to fail, and the taxpayer foots the bill, when they mess up). Hard to mess up, when they make money both ways, with mortgage-backed securities/derivatives, etc.

*= some of these were "major accounting errors". Lol, it's all a scam.

-My nice apartment was 1700ish a month, now 2500.
-landlord bought at like 340-420k, can easily sell at 800k+ (that's like 200% initial value).
-My bs apartment was 1600, now like 2300.
-A terrible house in Toronto, is like 1.2million CAD * .79 USD = 948,000.
-The Economist called "Toronto the best city to live in" several years ago, I almost lost my mind on that one.
-5000 now > 10000 2+ yrs from now.
-95%+ of commercial real estate in Vancouver is foreign owned, similar in Toronto.

 

[Ocguy]

20 yrs to a million is less than ideal, time-value-of-money / present-value=future-value calculations need to be factored in.
I know what you mean though, @m_arch. I don't know exactly what hedge fund people do.. (kind of do, but I'm not getting into Top 3 schools, so I don't think about it). I have a couple in my familials.
Inflation/currency debasement. If something has strong Fundamentals, then yes that may possibly work.

But, if someone makes 1-10mn 1-2 yrs early on... they can easily generate retirement money, if they aren't out of their minds like Mike Tyson (lost a lot of money) or all these rappers. Earn a lot in the younger/ high-risk days; and let profits ride (a certain percentage dependent on financial, family, work, hobby, etc. responsibilities) in safe money over time for retirement.

Tons got burned in Worldcomm, Enron, Nortel*, etc, etc, etc. And if it's a certain industry (like certain American banks, they're too big to fail, and the taxpayer foots the bill, when they mess up). Hard to mess up, when they make money both ways, with mortgage-backed securities/derivatives, etc.

*= some of these were "major accounting errors". Lol, it's all a scam.

-My nice apartment was 1700ish a month, now 2500.
-landlord bought at like 340-420k, can easily sell at 800k+ (that's like 200% initial value).
-My bs apartment was 1600, now like 2300.
-A terrible house in Toronto, is like 1.2million CAD * .79 USD = 948,000.
-The Economist called "Toronto the best city to live in" several years ago, I almost lost my mind on that one.
-5000 now > 10000 2+ yrs from now.
-95%+ of commercial real estate in Vancouver is foreign owned, similar in Toronto.

The safest investment with the highest yield are micro loans using a service like lending robot.. my early investor and a lot of others are avg 12 to 14 percent yearly return for the last 5 years.. the loans are vetted thru the robot based on risk factors your willing to take. But even a conservative portfolio yields pretty well as mentioned above
You might not beat s&p in this current economy but it's a lot safer

I think crypto is going to be less risky going forward because the sec is launching a massive investigation into all the spoof and price manipulation, not to mention the btc halving coming up early next year.. the institutions are going to be moving quickly to buy it up

I already see the prices rising like a normal market and no hard crashes.. of course I pulled out 50 percent of my investment after 20 straight days of loses from those bastards crashing it daily from early may til last week..

 

[Helen]

I think the way normal finance works is you find something like vanguard stocks, and invest in it like $150 a week, for 20 years or something. Come out the end of it with a cool mill or two to retire on. Right? @Helen

It depends at which cycle you are in the market. For some reason people think that market will only go up. but dont forget SP500 is a ponzi scheme for the last 30 years.
I never do passive investments, since I want high yearly return.

 

[Helen]

20 yrs to a million is less than ideal, time-value-of-money / present-value=future-value calculations need to be factored in.
I know what you mean though, @m_arch. I don't know exactly what hedge fund people do.. (kind of do, but I'm not getting into Top 3 schools, so I don't think about it). I have a couple in my familials.
Inflation/currency debasement. If something has strong Fundamentals, then yes that may possibly work.

But, if someone makes 1-10mn 1-2 yrs early on... they can easily generate retirement money, if they aren't out of their minds like Mike Tyson (lost a lot of money) or all these rappers. Earn a lot in the younger/ high-risk days; and let profits ride (a certain percentage dependent on financial, family, work, hobby, etc. responsibilities) in safe money over time for retirement.

Tons got burned in Worldcomm, Enron, Nortel*, etc, etc, etc. And if it's a certain industry (like certain American banks, they're too big to fail, and the taxpayer foots the bill, when they mess up). Hard to mess up, when they make money both ways, with mortgage-backed securities/derivatives, etc.

*= some of these were "major accounting errors". Lol, it's all a scam.

-My nice apartment was 1700ish a month, now 2500.
-landlord bought at like 340-420k, can easily sell at 800k+ (that's like 200% initial value).
-My bs apartment was 1600, now like 2300.
-A terrible house in Toronto, is like 1.2million CAD * .79 USD = 948,000.
-The Economist called "Toronto the best city to live in" several years ago, I almost lost my mind on that one.
-5000 now > 10000 2+ yrs from now.
-95%+ of commercial real estate in Vancouver is foreign owned, similar in Toronto.

the trick is how to save your money. Now is the era of uncertainty and if you make the wrong choice on how to save your money , you might lose it all. SO people who make it young usually just lose it later.

Especially now with cryptos, they are trying to rotate out , but It wont be any cryptos which are available now that will be the choice. Why would anyone use btc.

 

[MNK99]

Thanks for the response Helen, appreciated. That's good to keep in mind.
And for sure easy come, easy go. I lost more money at 19-21 than like the next 3-5 yrs combined.
-AND I've seen friends make a lot of money and then lose 90%.
-And for sure, the highest earning years are usually in mature days, like late 40's-50's for some careers (obviously not professional athletes - some).
-But like accounting, finance, "white collar"/professions. Much of medicine, law too. Probably engineering and tech as well.
-And money means nothing without health -physical and mental, and wellbeing, relationships, etc.
-Savings=Investment, without saving -- there's really no point. I agree 1000% with that.

 

[MNK99]

*Disclaimer:*

I was kidding when I said short everything.
Maybe 2 mo ago or a few weeks ago.
Do not do that now unless you have bulletproof reasoning to do so.
-And 3-7 mo ago too.

Just saying incase.

But* maybe stick to private deals.
And remember binance and bittrex are extraordinarily shady with bot trading.
And obviously stay the hell away from pump and dump groups. And half those guys on Tradingview are cleverly (to some) disguised as legit traders, when in fact they are shills as well.

I'm just saying... BC a lot of people can't tell when I'm serious or joking. 2017 will not be "the year" for crypto.

Highest volume is in futures and that's where shorting happens, I think.

7-14* gains are possible still but it isn't 2017. It's a fulltime job for a lot of people (not that many considering there's like 14-18mn people in it maybe more, lots of wallets are from people who may or may not be around anymore).

 

[Ocguy]

the trick is how to save your money. Now is the era of uncertainty and if you make the wrong choice on how to save your money , you might lose it all. SO people who make it young usually just lose it later.

Especially now with cryptos, they are trying to rotate out , but It wont be any cryptos which are available now that will be the choice. Why would anyone use btc.

I agree in that btc probably wont be the crypto of choice as the institutions or even gov'ts will come out with their own currencies.. but in the meantime, i still think there is an immediate opportunity for the remainder of this year and early next in btc and a few other alts, as long as you dont hold too long

*Disclaimer:*

I was kidding when I said short everything.
Maybe 2 mo ago or a few weeks ago.
Do not do that now unless you have bulletproof reasoning to do so.
-And 3-7 mo ago too.

Just saying incase.

But* maybe stick to private deals.
And remember binance and bittrex are extraordinarily shady with bot trading.
And obviously stay the hell away from pump and dump groups. And half those guys on Tradingview are cleverly (to some) disguised as legit traders, when in fact they are shills as well.

I'm just saying... BC a lot of people can't tell when I'm serious or joking. 2017 will not be "the year" for crypto.

Highest volume is in futures and that's where shorting happens, I think.

7-14* gains are possible still but it isn't 2017. It's a fulltime job for a lot of people (not that many considering there's like 14-18mn people in it maybe more, lots of wallets are from people who may or may not be around anymore).

I made a small buy last night on bittrex and there were no bots dancing around out bidding me.. first time I saw that in 8 months.. maybe they cooled off after SEC anouncement on crackdown?

Month of May was a huge manipulative dump in general ,
Just last week I watched ethereum dump 50 points in 30 minutes, and subsequently pump back at 4am on monday ( like thieves in the night) I'm hoping the bullshit stops.. it's been pretty quiet this week, just steady gains.. we'll see I guess

 

[MNK99]

Yeah man I tried to sell 22800 of some bs coin and made 20 laddered limit sells on binance... Not one filled. Meanwhile buy at market, price rises 5% and then goes back down. Opposite if you sell.

Also I create volume on some smaller exchange and can move price. It's so crazy.

The shadier small exchanges are less shady than the super exchanges. I think Fluffypony is the only "legit" Crypto Boss.

No volume.

Theres around 1000 dollars price per BTC per 1million USD traded volume. + Other factors to price.

May have got the zeroes wrong, but something like that.

Love/hate. Not sure why I LOVED trading when I was 18-20, then again grass is always greener. Sometimes you get what you want and then want something else (literally all the time for some people).


I'd have been set for life if not for fin last yr... But oh well still got time. And other markets too. But Law + Trading may be too much... Need safe money too. Also writing and side deals. Can't have EVERYTHING right now. That's ok.


Should have been an actor. Lol not too late.

 

[MNK99]

Can we get a list of people who are
"Semi legit"* Crypto Dons?
*= not exactly legit but legit enough.

There's FluffyPony (Funded by drug dealers and terrorists aside...).

There's me. So that's like 1-2 that I can currently think of.

There's also Charlie Lee.... Who I once surmised was so sketchy he had to be legit, but being more logical, I'd say he's pretty damn sketchy.

 

[Area-1255]

I don't typically use Nord VPN...but I think [heard] they are pretty flexible!

 

[RebelWithACause]

I got some bitcoin and other shitcoins. I just wait for 2 years. See if it is worth something then.

 

[MNK99]

Ah it's annoying, will get back more in... after some higher priority tasks... Literally, need to be alone / have home office/condo again.
I had amazing places I could have moved to last yr but was too sick... but that's ok. I'm not sure how the hell my brother got into med school while studying here...
there's literally jack to do here. Boring as hell. He's super focused tho. I am... at times.... but there's so much random shyt that happens.

I became a good student, better trader, etc when I LEFT HERE... being here reminds me of other bad shyt but I guess I just gotta put that out of my mind (the past).

 

[MNK99]

I got some bitcoin and other shitcoins. I just wait for 2 years. See if it is worth something then.

SOUNDS good but you dont want to literally ignore any of this for too too long.
20mo ago or 80mo ago or 130mo ago, sure.

 

[RebelWithACause]

SOUNDS good but you dont want to literally ignore any of this for too too long.
20mo ago or 80mo ago or 130mo ago, sure.

Yea I was not there in the beginning. I see guys predicting it will be 1 million in 2020. Let's go baby!!

 

[MNK99]

That would make like 1-18k ppl multimillionaires and 1000 billionaires.. and 500-2000 trillionaires... i.e. not possible.
Those predictors are either = A. Out of their minds. B. Something to gain. C. Bankers who hate crypto now like it bc no choice. D. Over-optimistic youth.

 

[MNK99]

I don't know.... Ones where I was up 60% and then 20% and then got greedier. I refuse to remember them for now.

 

[MNK99]

-When will this trashcoin, ETH be around 500+ again?

 

[tanedout]

These things have fallen in price slower than I expected, although obviously they're still well down - ETH down 80% or so this year.

I always keep an eye on the market cap. but I've never been tempted to buy in again since getting out in Dec '17, although the market does consistently rise by 20% after a sharp correction, but the trend is clearly down.

 

[MNK99]

I called the mkt crashing 23mo ago for this and last yr but that's besides the point.
I have eth --- ... and it goes up at all...
well I'll still be up 5-10 percnt on that one thing, but if it goes up a bit.... ---> higher... then super high profit... but that could take time.
I'll get better and short sell in all markets, while others crumble.