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Messages - cryptothief

Pages: 1 [2] 3 4 ... 43
16
Forum related / Re: "Karma" not properly used or misused
« on: October 21, 2018, 05:35:43 AM »
It's not necessarily always being misused, just that others maybe have a different outlook on what they consider to be valuable or helpful information. There will always be misuse, but don't think it's a huge issue (at least at this stage anyway). I, as far as I know, have no friends or alt accounts on the forum, but have still managed to accrue some karma, albeit at a slowish rate. Doesn't really bother me either way, as long as I don't get negative karma, but it's good to know that at least some of my posts have added value.

17
Cryptocurrency discussions / Re: Are you picky with ICOs?
« on: October 21, 2018, 05:31:57 AM »
Absolutely, very picky. Should be even more picky to be honest, the slightest red flag will stop me from investing now. It's just not worth the risk, too much money and/or time at stake. I have researched projects for ages and been impressed, then found that their social media is not being updated and immediately turned away. If a project can't be bothered to update their followers on their progress, then it's less likely that they are making progress behind the scenes too. Not just social media, can be anything. A badly designed website, lack of publicly available information on the team, a whitepaper that has spelling mistakes in and loads more. Any of these (to me) are signs that a project doesn't pay attention to detail. Each to their own, but just my thoughts on the matter.

18
Cryptocurrency discussions / Re: Many new altcoins have sprung up why?
« on: October 19, 2018, 06:56:56 PM »
The market is definitely getting saturated, especially in certain fields, and it is inevitable that many will fail along the way. Can't blame companies for wanting to cash in, but as an investor, you need to be very cautious when selecting which projects to invest in. Potential is there to make big bucks, but it won't all be smooth sailing. Gone are the days of every newly released coin jumping up immediately when it hits the markets. In general investors have become considerably more selective, it's the same as any new investment opportunity, at the beginning the money is flowing in, but once doubt starts to set in, the easy money days are done.

19
Cryptocurrency discussions / Re: What should I do now
« on: October 19, 2018, 06:51:57 PM »
It's impossible to answer that question without more information. When did you buy? What did you buy? How much did you buy? What proportion of your investment do you designate as high risk? How much return are you hoping to get? Without knowing all that information, the answer will be different every time. Some coins are good for short term gains, whereas others are about big future potential. Once you can answer those questions for each of your investments, you should be able to make a calculated decision.

20
Yeah, it's definitely encouraging that even when the market appears to panic, we're not seeing the huge (at least for an extended period anyway) drops that we saw earlier in the year. As long as the market can maintain this stability through to early 2019, confidence will build and we should see a steady increase. Looking forward to next year.

21
Cryptocurrency Trading / Re: Bull Market is coming on October to December
« on: October 16, 2018, 05:04:24 PM »
I tend to somewhat agree in the sense that we may see some positive breakouts but in general we're still slowly cupping out from the bottom and the market may simply need more healing while overvalued ALTS will still have some extra room to fall in price.  I think for the most part the worse of the bear market is over but the healing may take months to play out (which is healthy).

Agree with you on all points, already seeing plenty of positive breakouts, even though most of them are shortlived. The market finally seems to have found, at least approximately, it's baseline. Some will still find room to drop, but don't think we'll see too many drastically falling from the levels they're at now. Can't see too many signs for major movements before the end of the year, but as you mentioned, as long as it can remain reasonably steady it should assist the long term growth.

22
Cryptocurrency discussions / Re: HODL is the only policy.
« on: October 16, 2018, 04:54:28 PM »
HODLing is not as simple as just buying and keeping it for the long term. You still need to stay aware of market movements and be ready to make the sell if the timing is right. Doing nothing is not an all encompassing strategy, but can be useful at times as long as it is just part of the overall strategy. Not acting could cause you to miss out on some great selling or buying opportunities, either to cash a profit or to increase your holding in a particular coin.

23
Cryptocurrency discussions / Re: Forget the past and move ahead
« on: October 16, 2018, 04:51:27 PM »
It's been a tough year for many investors, especially those who chose to dive in headfirst with no real knowledge of the industry. I know plenty of people who have lost huge amounts of money, some down to bad timing, but most simply because of greed and wanting to make a quick buck. My main lesson this year has been to set stop losses, better late than never I guess.

24
Cryptocurrency Trading / Re: Taking some time out from trading
« on: October 15, 2018, 04:27:43 AM »
Still taking a back seat, was hoping that we would see a recovery sooner, but at least there seems to be coins making sporadic moves upwards, even if the market overall is not really showing any consistent signs of turning. I'm personally not getting involved, but I know plenty of people who have started making decent money again. Looks like we're going to be riding it out till the end of the year, but I'll be ready and waiting this time.

25
Crypto Wallets / Re: Best Way to Store your Coins
« on: October 15, 2018, 04:23:15 AM »
Ledger or trezor is the best of course, but I can't keep all my money in there because I'm trading, in binance and bitmex, so unfortunately some money of mine should stay in exchanges.

Yes, absolutely. Any coins you are regularly trading you will need to keep on the exchanges, otherwise it can cost you an arm and a leg if you have to keep depositing and withdrawing. Best bet then is to not keep everything on one exchange, spread out your trading across a number of exchanges so you're not holding all your eggs in one basket if it falls. And always remove anything as soon as you intend to hold it wothout trading for a longer period of time.

26
Best way, at least when you're starting out, is to watch videos on youtube. It's much easier to follow when the visuals are in front of you, rather than just reading articles. Plenty of training videos out there, and lots of them for free too. I wouldn't like to tell you exactly what to do, but some decent channels to follow are...

Chris Dunne
Datadash
The Chart Guys

I'm sure there's loads more around, these are just ones that I have spent time following over the past year or so.

27
Cryptocurrency Trading / Re: is 10% a week posible
« on: October 14, 2018, 05:10:27 AM »
10% a week is definitely possible, but involves lots of screen time, at least to do it on a consistent basis anyway. It's entirely to make much more than that on occasion, the challenge is doing it week in week out. You've picked a reasonably realistic target though, so with dedication and a slice of luck, you should be able to pull it off.

28
Cryptocurrency discussions / Re: Ethereum continues to improve
« on: October 14, 2018, 05:07:51 AM »
As a long term hold, Ethereum has value, even with it's under par performance this year, it is still out performing most of the market. Doubt the returns will be astronomical though (5-10x within the next 2 years would be a huge achievement), it's just a steady investment at this stage compared to some of the smaller marketcap coins.

29
Cryptocurrency discussions / Re: What Have Brought You Into Crypto World?
« on: October 14, 2018, 05:04:34 AM »
I've been in for just over a year too, made some money at the beginning, but unfortunately ramped up my investment at the start of the year. Worst possible time to have put more money in and lost over 90% on my two biggest investments. Ah well, guess it was a learning curve. I have become much more cautious with investing now, and am quietly optimistic that we will see a recovery over the next 12-18 months, even if it doesn't reach the levels it got to at the turn of the year.

30
Cryptocurrency discussions / Re: How to save money in crypto
« on: October 14, 2018, 05:01:43 AM »
Yes tethering is a good strategy but don't forget that USDT Tether is a cryptocurrency after all. And it has risks involved. I wish we had a way to store USD on our Ledger Nano S. That would be epic! And it would be a revolution. We are still in early adoption phase and I think in the future there may be a way to store fiat on Ledger.

Storing fiat currency on a hard wallet defeats the whole object of the cryptocurrency industry, and one of the reasons why it is so hard to get people to adopt crypto as a genuine currency. If everyone stopped thinking of it purely as an investment opportunity, we might see some real adoption, instead of just trying to make quick money and jumping ship. I never use tether either, I know it's the sensible way to manage risk, but can't bring myself to do it.

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