Board 8 > Cryptocurrency hype topic [That Litecoin tho]

(+) Yeah! (+)

After that nasty surge, Im trying to decide if I should sell now and capitalize in prep for an eventual drop.

Or just buy more and ride this rocket even harder.
---

I bought 10 Litecoin five days five days ago, telling myself I'd take the plunge as soon as it dipped under $100.

I haven't even received my coins yet, and already, that 1k has turned into 3.5. My total 3k investment into crypto (1k in each BTC, ETH, and LTC) has turned into 7k, and I only started this last month. Pretty crazy.
---

As for buying and selling, I'm holding steady for now. As I understand, LTC is practically identical to BTC, the only difference being volume (there are 4x as many LTC as BTC). If that's truly the case, then LTC is still very undervalued relative to its bigger brother (a Bitcoin is 48x as valuable as a Litecoin). There's a lot of room for LTC to grow, but my question is... how much can they both grow together?

Also, every day I kick myself for not buying a Trezor last month when I first heard about them. They were $70 back then... $200 now.
---

You can buy the Ledger Nano S on amazon for 90 now. It was 70 a week ago when I picked it up. I invested in Bitcoin recently and plan to transfer over soon.

I have a good friend who invested heavily in Bitcoin in May. Like all his liquid assets. He also bought a little LTC at that time and has exchanged most of it for Bitcoin after the spike today - still confident BTC is the better long term option
---

Yankees posted...

You can buy the Ledger Nano S on amazon for 90 now.

I'm waffling between the two. Ledger has the much more appealing price, but Trezor has that extra half a star on Amazon that I can't shake off very easily. Are you happy with your Nano so far?
---

It's only been a week and I haven't used it enough to offer much. My friend owns a few of both actually and is happy with either one. I can ask him if you have a specific question
---

I have been about 50/50 BTC/ETH so I'm pretty good. I missed out on LTC I guess but I don't really care about it that much. VTC seems much more interesting as a BTC "silver" currency due to its anti-ASIC and better decentralization.
---

To my uninformed self, it all appears to be highly speculative and will end up more as an investment fund than an actual, usable currency.
---

Peace___Frog posted...

To my uninformed self, it all appears to be highly speculative and will end up more as an investment fund than an actual, usable currency.

it's already a usable currency
---

HotDogButts posted...

it's already a usable currency

but if that's true then I don't know shit, which would suck
---

HotDogButts posted...

Peace___Frog posted...

To my uninformed self, it all appears to be highly speculative and will end up more as an investment fund than an actual, usable currency.

it's already a usable currency

Yes, you can pay for a pizza with btc at the current rate, and in a few months you gave that business the equivalent of a million bucks? That's like calling the venezulean currency "usable"
---

lmao. By that logic every dollar you don't invest into bitcoin is the equivalent of losing a million bucks. Did you literally just make that argument.
---

My logic is that it's unstable. You can go the other way and say that you gave the business the equivalent of half a penny.

I admitted that i don't fully understand cryptocurrencies and am open to becoming more learned. But that's my uninformed understanding. That they're poor for use as a currency because their value changes drastically in short periods of time. You don't have to be an ass, I'm legit asking to be educated.
---

Litecoin is down today, which tells me I should have sold and rebought for maximum profit.

Oh well, I'll remember that next time.
---

I'm a total crypto noob but I think trying to time the market (with any security or currency) is a dangerous game.
---

Yeah it seems risky, but I felt like its rise so surpassing expectations so quickly meant it would inevitably fall a bit.

But I chickened out.
---

Peace___Frog posted...

My logic is that it's unstable. You can go the other way and say that you gave the business the equivalent of half a penny.

I admitted that i don't fully understand cryptocurrencies and am open to becoming more learned. But that's my uninformed understanding. That they're poor for use as a currency because their value changes drastically in short periods of time. You don't have to be an ass, I'm legit asking to be educated.

It's already more stable than numerous national currencies. There are bitcoin and ethereum debit cards, etc that will work at any institution that accepts plastic, being used every day. Ask someone from Greece, Venezeula, Brazil, etc, if bitcoin is a legitimate currency. It is literally allowing people to survive in shit countries right now because the power and legitimacy it yields as a currency.
---

CaptainOfCrush posted...

I'm a total crypto noob but I think trying to time the market (with any security or currency) is a dangerous game.

It is. You have your typical bull and bear cycles, and you can play that game to increase your holdings if you want, but if you don't really know what you're doing, youre going to lose out. Thing is, there are pretty typical patterns, and guys with extremely good track records publicly publishing different coin analysis, with sell and buy orders to target on the cycles. So far, from what I've seen, if you were to go along with their analysis, and do so consistently every run up and retrace, you would be making more money over time. But that said, there are times you're going to lose out too. For instance, ETH shattered through the projected sell line on its bull run the other day, still hit the retrace, but even then the retrace (thus far, very well, and probably not over), stayed above the sell target from standard analysis. You would've lost out if you played it standard on this last run up. But if you do it every cycle over time you'd win out (thus far). Basically gotta be willing to commit to playing the "numbers."

That said fuck that shit. Too much time, effort and heartache. More power to you if you can and want to pull it off though.
---

Peace___Frog posted...

Yes, you can pay for a pizza with btc at the current rate, and in a few months you gave that business the equivalent of a million bucks? That's like calling the venezulean currency "usable"

Buy the pizza then buy more bitcoin to refill your position. Volatility in this case doesn't matter at all.

Venezuelan currency is unusable because you literally can't buy toilet paper with even a duffel bag full of it.
---

You will lose if you try to time the market. Use the dollar cost average buying strategy to avoid that, and the same principle applies to selling. That's the only technically smart way to play the market, and it's based on time in the market.

Timing the market is a zero-sum game. Time in the market is not zero sum at all and can be mutually beneficial for everyone. Not sure why you would play the former game when you could play the latter.
---

*checks Litecoin*

oh shit it tripled? Glad I invested when the last crypto topic was up.
---

I've been wanting to make a "general money and investment" topic for a while, but it probably wouldn't generate enough interest to stick around long.
---

Tag maybe
---

CaptainOfCrush posted...

I've been wanting to make a "general money and investment" topic for a while, but it probably wouldn't generate enough interest to stick around long.

I'd lurk!
---

I know next to nothing about crypto but Choon has been on my radar recently as it pertains to the music industry and I'm really interested in their business model as well as the people behind the idea. It uses the Ethereum blockchain (which I also know nothing about) and I'm thinking about getting in on the ground floor once everything launches. Has anyone heard anything about this yet?

https://www.choon.co/
---

Litecoin is down to $290 today, but Bitcoin exploded again.

Will I ever get over the fact I set aside $500 for Bitcoin and never spent it?

The answer is no.
---

I've been meaning to figure out cryptocurrency investing/general investing. Make some money and such. Tag
---

I bought a Nano wallet. Excited to get it!
---

CaptainOfCrush posted...

I bought a Nano wallet. Excited to get it!

Which kind? I'm making my brother teach me how to use mine over the holidays.
---

Ledger Nano S, the one Yankees recommended. Just couldn't bring myself to spend $200 on the Trezor.
---

BTC is flirting with $20,000.
---

Absolutely bananas.
---

Trezor should just be 100...
---

Putting money into Ripple, as soon as my bitstamp account is approved.
---

Transferred a fraction of my Litecoin to HitBTC and am setting up trades on XVG (Verge) and XRP (Ripple).
---

I'm still only on Coinbase but I did set up a Gemini account. I need to figure out which exchange has the lowest fees because it seems like they can really ream ya.
---

My Bitcoin investment looks nice right now. I'm considering throwing small amounts on other cryptocurrencies to let them ride. But I'm also hedging my bets by funding my 401k.
---

I diversified the fuck out of my coin investments, and now seeing my total valuation constantly fluctuate like mad is stressful.
---

I fail to see the purpose in diversifying your "coin portfolio" like this. Bitcoin's ballooning price looks like a bubble, but, as fool said, it has potentially infinite potential due to its vast possible usefulness in the future. But only one or two currencies will succeed in the long-run, and at least Bitcoin has infrastructure and name recognition. Isn't investing in competing franchises in a bubble still bad?
---

I'VE MADE OVER TWENTY DOLLARS ON LTC wow
---

NFUN posted...

I fail to see the purpose in diversifying your "coin portfolio" like this. Bitcoin's ballooning price looks like a bubble, but, as fool said, it has potentially infinite potential due to its vast possible usefulness in the future. But only one or two currencies will succeed in the long-run, and at least Bitcoin has infrastructure and name recognition. Isn't investing in competing franchises in a bubble still bad?

If I spend on four or five promising <10 cent cryptocurrencies, I only need one of them to hit a quarter to make all my money, and if more hit that or higher, the potential profits are huge.

But I have money in the big currencies tooLitecoin is my biggest, value-wise.
---

NFUN posted...

but, as fool said, it has potentially infinite potential due to its vast possible usefulness in the future

When did I say infinite? It definitely is not infinite. $100k is a soft ceiling and $1m is a hard ceiling for bitcoin. This means you can only really expect a 500% gain on current bitcoin investment. Other cryptos have far more potential if you just want to make money.

But beyond that, no one knows if bitcoin will remain the leader. Or Ethereum, Litecoin, whatever. You should always diversify and look out for new tech to keep diversifying into so that if one of them fails completely due to very real tech risks, then you're not completely lost.

That being said, bitcoin right now is representing blockchain tech as a whole. It's like the dotcom bubble where companies sitting on top of the internet failed but the internet was fine. Bitcoin is the internet right now, and the ICOs and forks are the scammy companies trying to cash in... but some are actually their own internet (Ethereum) and could win out overall. You just have to research and follow good tech and concepts, not hype.
---

Alright, didn't mean infinite, just got lazy and used it hyperbolistically.
---

https://coinmarketcap.com/currencies/verge/historical-data/

Verge is picking up Steammmm
---

Which exchanges are you using? I know Bittrex hasn't accepted new users since I first checked at least a week ago.
---

I'm signed up for a ton of them just in case, but I mostly use hitbc because it's the easiest to transfer obscure coins into other obscure coins (all sales automatically convert to Tether, which is tied to USD).

Unfortunately, it seems like they're having issues with the account page right now.
---

I wonder if my work's 401k investment plan has options for cryptocurrency....I think I'll ask HR about that.
---

Why verge?
---

John McAfee showed an interest in it, and since then it's been exploding.

It's also pennies right now, so if it ever catches fire, you could make fuck you money super easily.
---

https://medium.com/verge-currency-xvg/meet-the-core-team-our-future-vision-and-an-important-announcement-3965730bd0b8

Also here's the vision for the coin, which in my eyes is important for a new currency to pickup steam.

Essentially, they're attempting to develop a completely private coin. If they release the Wraith Protocol and it does what it says they want it to do, Verge is gonna go nuclear.
---