Crypto investing

[Rockport]

So is that only for crypto or all equities as well?

Anything involving the stock markets. I'm heavily invested in the markets but I have a professional handling it for me. I'm too stupid to manage it myself.

 

[TheCowboy]

I dont try to day trade my crypto so I dont focus too much day to day. Its nice seeing positive gains during a week and if it dips I just take the L and continue the waiting game. Me personally I invest a small portion of my check but have no plans on selling any time soon. Just build it up for the long term

Yeah for sure, I don't invest much just some extra money to play with. Investing large amounts of your future into crypto absolutely isn't a smart move with so much uncertainty. I wouldn't say I day trade either, but I check maybe hourly to see what's happening and if there's a huge dump like there was this morning then it would be a great buying opportunity. I randomly bought $ALGO at $1.26 and the same day it pumped to $1.86 and hasn't been the same since. Was just a completely random transaction that paid off immediately and that's what makes this fun to me. I'm down now owning $LINK but I'm sure it will slowly continue growing over time.

 

[Reality]

I dont try to day trade my crypto so I dont focus too much day to day. Its nice seeing positive gains during a week and if it dips I just take the L and continue the waiting game. Me personally I invest a small portion of my check but have no plans on selling any time soon. Just build it up for the long term

When it comes to crypto, that is the best strategy or else you will drive yourself crazy while whales pump-and-dump and panic-sellers and dip-buyers do their things.

Most importantly though, you should only invest money you are fully prepared and willing to lose!

 

[Creeper]

Yeah for sure, I don't invest much just some extra money to play with. Investing large amounts of your future into crypto absolutely isn't a smart move with so much uncertainty. I wouldn't say I day trade either, but I check maybe hourly to see what's happening and if there's a huge dump like there was this morning then it would be a great buying opportunity. I randomly bought $ALGO at $1.26 and the same day it pumped to $1.86 and hasn't been the same since. Was just a completely random transaction that paid off immediately and that's what makes this fun to me. I'm down now owning $LINK but I'm sure it will slowly continue growing over time.

RVN went from $.02 to almost $.30 last week. There were some really ridiculously big gainers last week. If is hard not to sell a 15 bagger. But RVN is still at $.17 so even people who held can make a nice profit selling now.

 

[Zekeats]

Earlier this month it took off, early last week tanked but it regained. Then it tanked the weekend. Obviously not every crypto will survive but the ones that will will most likely regain traction and over time it'll be up to who knows where.

Noticed a little theme that saturday evening into monday morning is tank time. Wish I had stashed my coins over the weekend but live and learn. Im rolling with Cardano as my clear cut #1 followed by Polkadot. Im gonna ride these 2 coins out and play a little roulette with a couple others.

 

[Cowboy Brian]

Now that prices have come down some, are there any coins people are looking at as a good pick-up?

 

[Reality]

Now that prices have come down some, are there any coins people are looking at as a good pick-up?

Since the peak a few weeks ago, many cryptos have been in a holding pattern, going up some, then down some, then up some, and so on.

If you notice, a lot of crypto pricing tends to mirror bitcoin patterns except when there is big news or a major buyer for specific cryptos, but many of those tend to fall back soon after the spike.

I regularly notice random cryptos spike and then start getting media attention. That of course brings in more retail buyers thinking they will get rich quick, but they end up buying late/high and selling low after they panic.

One thing I would pay attention to are if/when crypto exchanges (ex: Coinbase) and investment platforms (ex: Robinhood) add support for new types of cryptos as that would add a lot of new buyers and sellers to the mix.

Another thing to watch would be large consumer-focused companies adding support for accepting crypto payments.

Imagine what would happen if Amazon or Walmart started accepting bitcoin payments or supporting even multiple crypto currencies

The Dallas Mavs were already accepting bitcoin as payments and they just announced they will be accepting dogecoin as well.

Now a single sports organization is not the same as a large consumer-focused company like Amazon, Walmart, etc. but maybe it could fuel interests by other companies leading to that ultimate result one day.

 

[Reality]

Mark Cuban s Dallas Mavericks Are Accepting Dogecoin As Payment Because We Can

It s the latest cryptocurrency to be accepted by the basketball team.

Read Full Story

 

[TheDude]

For crypto to replace the US dollar or even the Chinese Yuan, a lot has to happen. For one thing, a regulatory body will have to be put in place to reduce the volatility and fraud in the crypto markets. Imagine if the USD was prone to huge value swings of 10% - 20% in a day. No one would want to hold dollars and they would move to more stable currencies. While people do invest in currencies their primary purpose is for trade and that requires stable value. This is the number 1 reason the US dollar is the current world currency preference.

I also believe government would have to embrace crypto, which could happen but I don't think the US would ever replace its dollar with BTC. More likely, the USD will become a cryptocurrency backed by the US government. If this happens, BTC will die a quick death along with all the other existing cryptocurrencies. But honestly, it will be a long time before the US adopts an electronic currency to replace greenbacks.

In an "end of the world" scenario, I would rather be holding gold or silver than BTC, which would be useless.

The only reason the US has power is because the dollar is the world's reserve currency. Lose that (as China and Russia pine) and it is over

 

[Creeper]

The only reason the US has power is because the dollar is the world's reserve currency. Lose that (as China and Russia pine) and it is over

Lose that and we are totally screwed.

 

[Reality]

 

[Reality]

 

[Reality]

 

[CyberB0b]

Buy the dip. HODL. DIAMOND HANDS!

 

[InTheZone]

Do not sell. Corporations/whales finding their way in this are trying to buy low after you sell. Just hold or buy more (not financial advice, just what I'm doing).

And china trying to ban crypto or btc is comical. Like saying they ban internet.

Edit: my mistake was buying a bunch yesterday when I should have done it today and I don't have much more to play with lol

 

[Reality]

Do not sell. Corporations/whales finding their way in this are trying to buy low after you sell. Just hold or buy more (not financial advice, just what I'm doing).

And china trying to ban crypto or btc is comical. Like saying they ban internet.

Edit: my mistake was buying a bunch yesterday when I should have done it today and I don't have much more to play with lol

China is the main cause of this recent dip over the last 24 hours.

That said, there is no way I would sell right now. As they say, you only lose money when you sell for a loss.

With so many new people investing in crypto though, there are bound to be a lot of people who invested all of their money or money they could not afford to lose in crypto and are now panicking.

 

[Creeper]

China is the main cause of this recent dip over the last 24 hours.

That said, there is no way I would sell right now. As they say, you only lose money when you sell for a loss.

With so many new people investing in crypto though, there are bound to be a lot of people who invested all of their money or money they could not afford to lose in crypto and are now panicking.

China has issued anti-crypto statements before. The markets dipped but recovered. I think they will recover in time again, although this latest climb in prices may have been a huge bubble due for a reset. I am holding. There is no point in selling. We could see a bounce in the next few days.

 

[Reverend Conehead]

I don't understand this "crypto mining" thing. How can you mine something that's electronic only? There's no gold, silver, or coal mine. Is it just setting up a computer bot to try to invade computers and take their crypto currency? If it's that, that sounds like stealing to me. If it's not that, what exactly is it?

 

[Reality]

Buy the dip. HODL. DIAMOND HANDS!

 

[InTheZone]

I don't understand this "crypto mining" thing. How can you mine something that's electronic only? There's no gold, silver, or coal mine. Is it just setting up a computer bot to try to invade computers and take their crypto currency? If it's that, that sounds like stealing to me. If it's not that, what exactly is it?

I know it's not energy efficient, eats graphics cards, but I don't believe it has anything to do with stealing. I haven't cared enough to know what mining is, maybe someone here can provide a basic rundown.