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This thread is called 'How do you decide which crypto currency to buy?' and it would be really great if we could actually talk about crypto.
Instead, it's like there are a group of protesters who are hell bent on derailing any discussion by coming in and shouting 'TULIPS!!!' every time anyone begins actually talking about crypto.
We get it, you don't like crypto. You've made that abundantly clear over the last 15 pages where you've made the same points over and over again.
I'd really like to discuss the lengthening cycle theory, wyckoff ditribution, ETH 2.0, smart contracts, the BTC mining council, etc.
And yeah, sometimes it would be nice to speculate on blurring the line between tokens for work done and currency and what that could mean for the future.
I can't talk about that because the same people keep shouting 'TULIPS!!!'
Would it not maybe be better if you started another thread titled, 'Crypto, it's a bit shit, isn't it?' and carry on your discussion there?
Sorry for helping derail the discussion. I wouldn't want to put anyone off contributing to the thread so I'll lurk from now on 👍
Would it not maybe be better if you started another thread titled, ‘Crypto, it’s a bit shit, isn’t it?’ and carry on your discussion there?
Not really. The original question was about which crypto currency to buy. There's a widely held view that they're all a bit shit and that it's become a vehicle for ponzi schemes and pump-and-dump scams, so if someone's asking what to buy it's quite reasonable to point that out. If someone wants to buy a crypto currency regardless (possibly based on arbitrary curve-fitting that attempts to predict the future based on past performance and couched in terms stolen from technical analysis and chartists with a few newly minted for the purpose in an effort to f̶o̶o̶l̶ ̶t̶h̶e̶ ̶g̶u̶l̶l̶i̶b̶l̶e̶ add a veneer of technical justification to the process) then that's their call.
OK, but is 15 pages of people shouting 'TULIPS, PONZI!!!' really necessary to get that point across?
Fair enough, if you guys are determined to shut down any discussion with your protests (and lets face it, if you haven't quit after 15 pages you're not going to stop now) then I guess there's not much more to do.
I have to say though, crypto 'stealing' technical analysis is one I hadn't heard before so well done for at least being original.
crypto ‘stealing’ technical analysis is one I hadn’t heard before
And it's not what I said, I said it was using "terms stolen from", although "terms invented by" might be a better phrase. And for what it's worth I regard most technical analysis and its subset chartists as being little more than clairvoyancy in most cases; I tend more towards fundamental analysis when making investing decisions, and believe me the fundamentals of the average crypto currency do not look good!
for what it’s worth I regard most technical analysis and its subset chartists as being little more than clairvoyancy in most cases;
but TBF that's not specific to crypto. I am sceptical of TA too, sounds like a bunch of guff but perhaps that's because I can't be arsed to spend years learning. But I know someone who does it for a living and applies it (profitably) to BTC like she would to anything else. She's more cautious, as BTC is a somewhat manipulated market, but I think it's possible if you know what you're doing.
Back to OPs question. Easy..depends on time horizon.
If you looking a short term trade - just keep a eye out for a top 100 coin that's going to be listed on Coin base. Buy 10k USD worth a few days before. Sell 12h after listing with 10% profit.
6-9 months. Both ETH and ADA plan a big update before the end of the year. Both are 40% off their all time highs. 10k now. Wait for the event and K-Pow! Walk away with a new ebike.
10y+ 5k bitcoin, 4k ETH, 1k in a scatter gun of 100-200 ranked coins that have a pretty symbol or interesting story behind it learnt from a YouTube video you watched only half way through. In 10y most will have gone to zero. The one that hasn't would have 20Xed
Or in 15y+ the Chinese digital RMB will now be the reserve currency as the they has first mover advantage back in 2021. The US were too slow to react spending all their time trying to regulate the shiz out of bitcoin. So whatever you buy now will not matter one miota. 😉
6-9 months. Both ETH and ADA plan a big update before the end of the year.
Do you mean ETH 2.0 here? On that one, the 'it's about 18 months away' clock was reset again last week - now looking at late 2022 instead:
https://tokenist.com/buterin-explains-why-ethereum-2-0-upgrade-wont-arrive-until-late-2022/
Yes I was. However it kinda depends on your definition of ETH 2.0 In my head it's all about scaling.
Starts with Arbtruim, continues with Optistic, then zil style sharding. I don't enough about ETH to know what is a pre requisites for POS though that will be huge too as it ticks the green box. So is POS officially 2.0?
Matic is effectively rollups and it's gone mental!
And it's funny how all talk is about Bitcoins energy usage. ETH is still POW - no one bitches about that. Does it use it a lot less??
And isn't Doge POW? Nice one Elon.
People do bitch about it - in particular in connection with NFTs earlier this year. I know of a few artists that boycotted the whole NFT thing on that basis - but it is a source of concern:
https://www.theverge.com/2021/3/15/22328203/nft-cryptoart-ethereum-blockchain-climate-change
But yeah I think it uses less leccy because it's less valuable. If you want to set up a data centre to mine Crypto, you might as well mine BTC because it's worth 20x more.
As the value goes up, so the mining difficulty goes up, so people need bigger rigs, so the climate impact follows, and ETH has been on that curve over the last year, but it's behind BTC (cheaper coins, smaller trading volume etc).
ETH mining was a factor in the recent graphics card shortages though (just like Chia has been a factor in the hard disk price increases of late). And yeah DOGE is POW too, and Elon Musk appears to be chatting shit.
PoS sounds good in theory, but I have yet to see an argument that explains why, in practice, it's not going to end up as basically feudalism. Because that's what it looks like!
Ok I don't really have it clear in my head what feudalism is but POS to me means 'The more I'm worth, the bigger say I have in how to better fully bags. Yuck!
I was listening to a podcast around POW. They explained it as the new entrant to the mining space has all the advantage due to Moore's law. Interesting huh?
Back to OPs question. Easy..depends on time horizon.
If you looking a short term trade – just keep a eye out for a top 100 coin that’s going to be listed on Coin base. Buy 10k USD worth a few days before. Sell 12h after listing with 10% profit.
6-9 months. Both ETH and ADA plan a big update before the end of the year. Both are 40% off their all time highs. 10k now. Wait for the event and K-Pow! Walk away with a new ebike.
10y+ 5k bitcoin, 4k ETH, 1k in a scatter gun of 100-200 ranked coins that have a pretty symbol or interesting story behind it learnt from a YouTube video you watched only half way through. In 10y most will have gone to zero. The one that hasn’t would have 20Xed
Or in 15y+ the Chinese digital RMB will now be the reserve currency as the they has first mover advantage back in 2021. The US were too slow to react spending all their time trying to regulate the shiz out of bitcoin. So whatever you buy now will not matter one miota. 😉
Wow, I've read circa 15 pages of gibberish (so much that I can't actually remember the first pages!)to finally see some advice!
I have a small amount invested in ADA, BTC and Ethereum at the moment, looking to buy some Telcoin and also Keanu!
Ada is on track to be a very good project I've been with it since 2019.
Then it's a selection of the usual scumbags just in case
Xrp
Eth
Btc
Binance (cheap trading)
Doge (why not currently running at an average of .7 a coin)
Hopes pined on miota for it's partnerships. https://www.publish0x.com/wordstock/full-list-of-iota-miota-partnerships-2020-xyrwex
I had a few pence scattered about in a few things, bought when prices high like the noob I am. ADA was one of them, didn't do too bad with that, it's generally above what I paid for it but been a few dips. Staked it but wallet didn't give me choice of pool or anything.
Decided to ditch DNT & ANKR and used XLM to move between wallets and for exchange due to it's very low network fees. Staked it in ATOM, mainly because it has better staking rates than ADA. Bought a little ATOM but again, not at the ideal time so generally that's been closer to below what I paid than above. There were other coins with higher staking rates than ATOM but I didn't have enough to meet the exchanges minimum amounts for that so you can tell how little I'm playing with.
Haven't really learnt that much since I started messing about with it during than big price rise the other month, other than I'll be &*$&$*($&( lucky if I make any money out of it the way things are going.
I’ve actually found a good use for crypto since bailing post Musky playing Twitter clown…
Buying Baklava and dates from Iran. Try doing that using Amex 😂
Ok I don’t really have it clear in my head what feudalism is but POS to me means ‘The more I’m worth, the bigger say I have in how to better fully bags. Yuck!
As I understand it, it's worse than that - because not only do people just have more control over the network the more they're worth, but you also have to pay them to use it (verifying transactions etc).
And unlike POW, where the big miners have costs which balances it out a bit (ie they invest money on computers and electricty), on POS that doesn't necessarily apply. So the more popular the network gets, and the more people use it, the more the rich get richer and everyone else pays them for the privilege. Hence feudalism.
Anyway, I've seen various arguments making that case, but nothing really countering it. Much of the crypto world seems pretty comfortable with the idea of a couple of dozen jillionaires basically owning the whole space.
Ummm deathcross sounds a bit ominous doesn't it?
Looks like it's all going a bit t..s up at the moment crypto value wise.I was 2500 up about two months back now about 6 hundred down.Do I cut my losses now.My original investment was 2500
Depends if you can afford to lose £2500! 🙂
I'm staying in as I'm thinking 5yrs down the line, not short term profit - I've only got £600 put in though.
There's a lot of bad press around and if regulation of some sort does come that can only attract people back.
I'll probably buy a bit more Etherium too while its low.
I'm putting all my money into Gencoin. what could possibly be wrong? 😉
Do I cut my losses now.
Only if you want to lose money. It's a long term game. If you're playing the short one you're a couple of months too late. You either play one or the other.
Only if you want to lose money. It’s a long term game. If you’re playing the short one you’re a couple of months too late. You either play one or the other.
Depends when you got in...
Wow yes so I’ve watched my £450 over a few coins, almost get to £1000 and then after the crash am very surprised I’m now down to £380! Some may say I should’ve got out early but I’m happy to keep it there and see what happens.
I am shocked on how it just keeps going down and down and down! I’ve been so busy doing DIY and sorting tradesman out that I’ve not seen the news as to why it keeps divebombing!!
now about 6 hundred down.Do I cut my losses now
So they are now cheaper than where you first thought that they were good price to buy.
You should be buying more at a discount from where you originally valued them.
Im continuing to make a return on farming yields and creaming off profits in a combo of cash and buying more crypto.
These dips aren't new and a good opportunity to buy and wait for it to increase...only buy what you can afford to lose i hasten to add.
@dannymite1981 - get a grip lad! 😉 Who sells when it's dropping? Weak f*ckers that's who! Hang on to it until you feel you've made what feel is a decent return! Diamond hands and all that.
farming yields
Diamond hands
buying more at a discount
It's a bit sad to see the usual "crypto-investor" talk on STW.
@dannymite1981 you didn't "invest", you speculated.
As for selling, it depends if you think there will be another round of suckers.
BTW. A few weeks ago, I sold half of my original $1 "investment" for $100. Thanks, current "investors"!
Unless bitcoin shows some form of utility (which I strongly doubt, due to design issues), all you have is a scheme that needs more people to "invest" for you to make money.
buying more at a discount
It’s a bit sad to see the usual “crypto-investor” talk on STW.
Nah .... not me, i was making the case for a real investment that had been properly researched.
It’s a bit sad to see the usual “crypto-investor” talk on STW
"To infinity and beyond!" or something..
🚀
You should be buying more at a discount from where you originally valued them.
That's one of those investment truisms that don't stand up to scrutiny. When you buy you should be making a risk decision based on the factors that make it a good investment versus the risks that may make it a bad investment. If one of those risks manifests itself then it may be time to dump the investment. You will of course have a portfolio of investments so that the same risk doesn't hit them all and overall you're quids in. Or you could just HODL to the moon.
Edit: btw, Monero emerges as Crypto of choice for cybercriminals. Maybe that's the one to buy, that way you too can be funding cybercriminals.
@terch - Ha, whatever!
That’s one of those investment truisms that don’t stand up to scrutiny. When you buy you should be making a risk decision based on the factors that make it a good investment versus the risks that may make it a bad investment. If one of those risks manifests itself then it may be time to dump the investment. You will of course have a portfolio of investments so that the same risk doesn’t hit them all and overall you’re quids in.
Very true ....
for a real investment that had been properly researched.
Monero emerges as Crypto of choice for cybercriminals.
... while the USD remains the number one Fiat choice for non-cyber
while the USD remains the number one Fiat choice for non-cyber
Let's be honest. The USD is the currency you want to be holding if you were to land almost anywhere in the world - even closed countrieS.... It can be even more lucrative there where the black markets so desperate to get their hands on dollars. So it's hardly a surprise it's popular with thieves.
And with that, it seems it's started to rise again...
Have i missed Musk spouting something on twitter by any chance i wonder
Bitcoin has been bouncing between 'I'll take a punt' $30k and 'I'll cash out' $40K since May, it's tested those limited but nothings changed much.
If you looking a short term trade – just keep a eye out for a top 100 coin that’s going to be listed on Coin base. Buy 10k USD worth a few days before. Sell 12h after listing with 10% profit.
Where is this information available?
It's pretty easy to do it if you have an account elsewhere with more listed, but surely if the info is publicly available then this will be priced in before the listing?
Massive opportunities for insider trading but unfortunately I'm not an insider
Hey I found some environmental good news about bitcoin!
Since China started booting out all the miners, the amount of computing power on the network (and therefore the amount of electricity consumed) has fallen by about 50% from its all time high in the middle of May.
The side-effects of this? Nothing at all.
The system just resets the mining difficulty level (another adjustment is due in about 4 days, currently estimated to drop it by a further 25%) and bitcoins and transactions will still be processed at exactly the same rate as before.
Indeed, the Bitcoin evangelists over at TrustNodes now believe that you could shut down >85% of the entire network without compromising performance.
Considering its current performance, we’d say it can probably handle just fine another 50% drop in current hash, so 75% from the previous adjustment, and we think it can handle another 50% drop from that again largely without any real problem
It turns out that having an environmental footprint the size of Germany was completely pointless after all! 🙂
Hey I found some environmental good news about bitcoin!
Somewhat relative definition of 'good news'! Something completely pointless, consuming vast amounts of energy now consumes slightly less.....
Although I'd say the fact that China's crackdown is actually working is good news, just need a few more countries to follow.
Yeah I was being deliberately flippant 😉
The good news, if there is any, is that you could cut the environmental footprint of bitcoin by 90% overnight with no negative effects on the network, the currency, the transaction speed or the value of BTC.
The bad news, is that there is a huge financial incentive for individuals not to let that happen.
It'll be interesting to see where these miners end up. I have read that some are setting up in Kazakhstan. But many of the countries with regulatory regimes that well suited to large scale BTC mining (ie a relaxed attitude to the bribing of public officials) just don't produce a spare country's worth of electricity.
There's talk of some of them pitching up in Texas, and a lot of the Republican senators etc in Texas are publicly pro-BTC. But it'll be fun finding out if Texas's famously solid power grid can cope with that...
China's not "cracking down" @footflaps - they're trying to control their own currency and they're looking at the current cryptos and realise they can't do it.
If being a shill for a despotic authoritarian regime in an effort to prove your misguided notions of crypto (to yourself) is your bag then knock yourself out 🙂
https://www.coindesk.com/china-blockchain-forkast-news
When China gets its digital coin out - it's effectivly the end of any privicy or freedom for the Chinese. Whatevery they end up with is what the CCP choose to give them. CBDC are so much more than a method of digital payment.
What currency do you think China's trading partners will be required to use? And all those countries around the world who have had China's investment kindness the last decade?
You might not like open source bitcoin but I bet you'll hate closed source dRMB.
Indeed. Even Footflaps agrees that digital currency is coming whether anyone likes it or not.
What he doesn't grasp is what happens if only government issued digital currencies are used. It goes beyond the fact that the government can look at every single financial transaction of every citizen (and anyone else who uses their currency) but if you think governments have fun printing money just wait to see what happens when they realise money can be non-fungible.
'Oh, you have savings? Well, we've decided that we aren't too keen on savings at the moment so you can either spend your savings or in six months time it will be worth half what it is now. But of course, it's entirely up to you.'
But yeah, I guess if you trust the government you have nothing to worry about.
Imagine having money that someone can 'expire'. You can do that with crypto.