Crypto thread

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Prospect
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Posted:

Quote Originally Posted by gambleholic63:

The profits still being held by early buyers is off the charts in all crypto currencies. Gains like this have never been seen before but where is the VALUE? Where is the money going to come from to keep all of these crypto currencies going higher? This isn't going to be pretty when the music stops boys. Meanwhile the S&P, Dow, NAS and global markets are soaring again. Tax reform is propelling the US markets to 3% plus growth. A recession is off the table. Markets will prosper. Invest in something tangable.

While I have the bulk of my investments in the traditional markets, I think there is a reasonable case to be made for sprinkling some on the crypto markets. I believe they are here to stay and will soon be another ho-hum part of the overall conversation.

Who would have valued a once little-known consumer website (AMZN) at potentially close to $800B in the coming fiscal?

Who would have thought a once-great American comglomerate (GE), considered the bluest of blue chips, would shortly be splitting up at the seams, shedding units and share price?

Crypto is current. Gotta stay somewhat current.

 

 
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Quote Originally Posted by JamieR44:

QUOTE Originally Posted by gambleholic63: The profits still being held by early buyers is off the charts in all crypto currencies. Gains like this have never been seen before but where is the VALUE? Where is the money going to come from to keep all of these crypto currencies going higher? This isn't going to be pretty when the music stops boys. Meanwhile the S&P, Dow, NAS and global markets are soaring again. Tax reform is propelling the US markets to 3% plus growth. A recession is off the table. Markets will prosper. Invest in something tangable. While I have the bulk of my investments in the traditional markets, I think there is a reasonable case to be made for sprinkling some on the crypto markets. I believe they are here to stay and will soon be another ho-hum part of the overall conversation. Who would have valued a once little-known consumer website (AMZN) at potentially close to $800B in the coming fiscal? Who would have thought a once-great American comglomerate (GE), considered the bluest of blue chips, would shortly be splitting up at the seams, shedding units and share price? Crypto is current. Gotta stay somewhat current.

I agree with you 100% but while I can not argue with anyone investing 1% or 2% of their net worth in crypto currencies, why not invest in the technology (blockchain) as well? I don't have a penny in any crypto currency, but I did make a post somewhere on this site about IBM. They are heavily invested in blockchain and they have software and hardware to support blockchain in a multitude of uses (not just as a store of value, which is what cryptos are right now). IBM was around $151 when I made that post two or three months ago. Now it's $164. That's worth about 5K in profits to me right now on a 60K position in IBM and I surely would not feel comfortable with that much money in any crypto currency. I just think the risk in crypto at the current time is to the down side...just my opinion of course.

 
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Tethered everything 
 
Covers Linesmen
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XRP back to a buck....crazy!

People are not used to any down moves in these things, this drop today has been pretty frantic and across everything. In the past these dips are always bought, but the way this is dropping so hard it feels more heavy than before, like big money selling..not the little guy on a light trading day with no buyers around.

 
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And then back up it goes...the smart man would have bought @.92...could sell that position quite handsomely right now and still be in it for the long hold.

I lost a bunch on my traditional investments today, too...Happens.

 
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Tron is the ultimate crap coin. They’ll struggle after getting caught plagiarizing their white paper. 

When an abnormal dip comes you have to hide in Tether and then watch closely for the bottom to catch the bounce. 

This market is definitely manipulated by some power. Not sure if it’s a whale group, a country or what. But it’s definitely manipulated. 

I believe good money can still be made. 
 
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It gets into cycles where every coin in top 200 goes down say 3-6% and then later every coin in top 200 will go up 3-6%. It’s as if they’re all tied together sometimes. I’ve never heard a good explanation for this. 
 
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If you can set yourself up to buy in during the dips, you’d kill it in crypto. By this I mean have your money sitting in Tether on Binance or another exchange. It’s such a pain getting money in immediately but if you can be disciplined and let it sit there until the bottom of a big dip you would do very well. There’s very little risk buying at the bottom of a big dip and it’s pretty easy to tell when it’s at the bottom if you have the time to constantly watch. 
 
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The gains in all of these crypto currencies remain parabolic. The current decine is virtually meaningless when you look at where they all started with gains still at 5000% for bitcoin based on its JAN 2015 low. Crypto has created mulit millionaires all over the world. The moves you are seeing now has been created by the mulit millionaires cashing out. 

 

The bottom line is that the old money is moving out and being converted to US dollars or other stable currencies. Thus, it will take MASSIVE amounts of FRESH CASH FLOW to recreate the parabolic move upward. IMO, that's simply a pipe dream for anyone chasing these currencies. Where is that money going to come from now that the WHALES are taking massive profits? Your neighbor, the guy in accounting and your dog groomer are not going to move the needle.

 

Putting fresh money into any of these currencies is no different, and probably much worse than gambling on the NFL games this weekend.

 

I predicted this would end badly. For most, it has not ended badly yet. 

 

 
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That’s all speculation. You don’t have anything to prove that’s what is contributing to the dips. 

Why would someone in from 2015 cash out yesterday or today? 
 
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I have seen charts showing that these dips have happened in January each of the last 4 years. 

https://www.reddit.com/r/CryptoCurrency/comments/7qqfcz/everybody_relax_heres_the_reason_for_the_dip_and/?utm_source=reddit-android
 
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Why is it so hard to post links here? Remember when it was nice and clean and you could include a hyper link? 

LINK 
 
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Posted:

Quote Originally Posted by I_Need_A_Detox:

That’s all speculation. You don’t have anything to prove that’s what is contributing to the dips. Why would someone in from 2015 cash out yesterday or today?

Detox. Excellent point! The one think the cryptos and bitcoin do very well is make it very difficult for anyone to know where the buying or selling is coming from. However, just like any asset, huge moves like this generally don't occur from selling by "friends in the neighborhood". The selling we are seeing in crypo almost certainly due to something more than "mom and pops" selling. 

But you are correct....I can't prove my statements. To me that makes investing in these cryptos even more sketchy. At least in the stock markets, when a big buy or sell occurs (by institutions, Buffett, etc) there is a logical explanation. With crypto, you are left to wonder what the heck is going on. It's just not for me. I have made a good mark for myself and don't need to chase these dreams.

I do wish you good luck though! 

 
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Crazy moves today in both directions...which points to the futures expiry as being the culprit. It also says that any bottom cannot be called as in because the move back was way too quick, this is like futures on futures on futures.

Until there is a safe and efficient way to get in and out of these I dont see how I can even consider getting involved unfortunately.

 
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Quote Originally Posted by wallstreetcappers:

Crazy moves today in both directions...which points to the futures expiry as being the culprit. It also says that any bottom cannot be called as in because the move back was way too quick, this is like futures on futures on futures. Until there is a safe and efficient way to get in and out of these I dont see how I can even consider getting involved unfortunately.

If you watch it enough, you can almost feel the daily bottom...at which point, there is value.

Today was a great example: just don't think Ripple/XRP sheds 50% without a bounce back...so if you bought near bottom, say $.90 or so, you'd be sitting with a nice number right now and could sell off, at profit.

Granted, it takes a steel pair to sit through the gyrations...But if you were trading futures/options, you already own 'em.

 
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Quote Originally Posted by JamieR44:

QUOTE Originally Posted by wallstreetcappers: Crazy moves today in both directions...which points to the futures expiry as being the culprit. It also says that any bottom cannot be called as in because the move back was way too quick, this is like futures on futures on futures. Until there is a safe and efficient way to get in and out of these I dont see how I can even consider getting involved unfortunately. If you watch it enough, you can almost feel the daily bottom...at which point, there is value. Today was a great example: just don't think Ripple/XRP sheds 50% without a bounce back...so if you bought near bottom, say $.90 or so, you'd be sitting with a nice number right now and could sell off, at profit. Granted, it takes a steel pair to sit through the gyrations...But if you were trading futures/options, you already own 'em.

 

The market is currently dysfunctional in the crypto space...there is no clear and clean way to conduct a transaction...I cant swim with razors even if it looks fun.

 
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Every single beginning of the year - approximately at the same dates - precisely the same process repeats itself: the prices on the major crypto currencies drop while dragging along the smaller and less popular ones as well.
Why?
Very easy answer if you ever had work with profitable business and get an opinion from an accountant. This is the best time of the year to unload.To realize the cash. To cash in. Call it any way you are used to.
And, what will happen now? Well, since it is also the time the big fish get rid of the small ones - what will happen the next is what I am doing right now: buying like crazy any crypto I can lay my hands on without paying the CEX prices and in many cases paying 2 to 4 percent less. 
I advice you all to do the same.
Thanks me later
 
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Posted:

Quote Originally Posted by wallstreetcappers:

 

The market is currently dysfunctional in the crypto space...there is no clear and clean way to conduct a transaction...I cant swim with razors even if it looks fun.

Unless you're a member in all kinds of FB and otherwise groups where you can buy or cell in a private manner - you're right 100% as there are no real facilities to accommodate the folk wanting to buy or sell unless you already have the currency and of course have accounts with few significant exchanges which almost none are accepting new members
 
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Quote Originally Posted by meraby:

Every single beginning of the year - approximately at the same dates - precisely the same process repeats itself: the prices on the major crypto currencies drop while dragging along the smaller and less popular ones as well.Why?Very easy answer if you ever had work with profitable business and get an opinion from an accountant. This is the best time of the year to unload.To realize the cash. To cash in. Call it any way you are used to.And, what will happen now? Well, since it is also the time the big fish get rid of the small ones - what will happen the next is what I am doing right now: buying like crazy any crypto I can lay my hands on without paying the CEX prices and in many cases paying 2 to 4 percent less. I advice you all to do the same.Thanks me later

I don't know about thanking you later, but I do lean your way in this...

C'mon Capper, jump in...shark bites only hurt the first or second time around.

 

 
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I've been a lurker in this thread for a while...haven't posted, but wanted to join the fun.  I have most of the obvious Crypts, BTC, ETH, LC, XRP.  Got into it seriously about a year ago.
  
I'm shocked WallStreet isn't involved.  Shocked!!!  I'm with JamieR44.  It's a weird space to get into at first, but once you're involved you're hooked.  Especially when you buy Ripple at 1.20, sell at 2.60, buy again at .90, and have the chance to sell a day later at 1.50.  I figured something like that would be right up WallStreets alley!!!
 
MVP
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Posted:

Neo 
Icon 
Lisk 
Nas
ChainLink 
Cardano
Dragonchain 
HEROcoin 

 
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Quote Originally Posted by JamieR44:

I don't know about thanking you later, but I do lean your way in this...

C'mon Capper, jump in...shark bites only hurt the first or second time around.

 

Wallstreets lost it a long time ago. He's not the same dude we used to know. It may be he sold his character to someone new who has no idea what Wallstreets was all about
 
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Quote Originally Posted by alangrrbs:

I've been a lurker in this thread for a while...haven't posted, but wanted to join the fun.  I have most of the obvious Crypts, BTC, ETH, LC, XRP.  Got into it seriously about a year ago.
  
I'm shocked WallStreet isn't involved.  Shocked!!!  I'm with JamieR44.  It's a weird space to get into at first, but once you're involved you're hooked.  Especially when you buy Ripple at 1.20, sell at 2.60, buy again at .90, and have the chance to sell a day later at 1.50.  I figured something like that would be right up WallStreets alley!!!
Nice job with Ripple. Wallstreets? State of shock. Still
 
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Quote Originally Posted by alangrrbs:

I've been a lurker in this thread for a while...haven't posted, but wanted to join the fun.  I have most of the obvious Crypts, BTC, ETH, LC, XRP.  Got into it seriously about a year ago.  I'm shocked WallStreet isn't involved.  Shocked!!!  I'm with JamieR44.  It's a weird space to get into at first, but once you're involved you're hooked.  Especially when you buy Ripple at 1.20, sell at 2.60, buy again at .90, and have the chance to sell a day later at 1.50.  I figured something like that would be right up WallStreets alley!!!

I already said why I am hesitant and cannot jump in. This market is not functioning properly, there is no efficient way to transfer funds, buy and sell and get the money out...funds are not safe and the markets are not established at all. I love risk, in fact I like risk too much but this is not risk...this is risk and also jumping through 1000 hoops and waiting for clearance and wondering if you can transfer money if that money is safe, where you can find a market that you can buy what you want, sell what you want and have confidence. 

I do not have confidence in the way this functions and I cannot risk money that way. I am not talking about 500 bucks, if I am interested in this I would want 10k plus, and I cant wonder if my money is going to land safely if my holdings are safe and if I can actually buy what I want with reasonable spreads and execution.

 
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