this.
and when it happens (not sure how close we are), it's going to be a zero sum game on the shitcoins.
Official BGOL Crypto Currency Thread ★★★★★
- Thread starter Matt Beesy
- Start date
this.
and when it happens (not sure how close we are), it's going to be a zero sum game on the shitcoins.
keep in mind each wagerr coin now is worth about 8 cents (not 5 cents) as the price increases as it moves thru each round...I would really hold on to it and @ least wait til it officially hits the market
Finally here's the projected wave pattern.
So I expect a market down turn very soon.
This does not mean the bubble has popped, this just means that the impulsive Bitcoin behavior of the last few months will be over and a natural retracement of the price will occur.
Yes I believe this is a bubble but we aren't at the heights yet.
If the Elliott wave holds out we have another wave 5 that will hit $4k+ next year.
Again this is all predictions and no one knows but this is how some traders look at the market.
I'm curious, how do you see ETH? It had a big run up but I see uncertainty with Bitcoin making more people use ETH. Even as a medium of buying other alts.
I respectfully disagree about another wave coming, in fact I see the down turn happening soon.
I've been learning technical analysis since January and even paid a major crypto trader to teach me Elliott wave theory.
Elliott wave theory assesses investor behavior and looks for patterns in behavior.
Under the impulse wave theory, there are generally three impulsive waves followed by a retracement.
That's the basic 1-2-3-4-5 impulse wave theory.
So here's a picture of the entire Bitcoin market from day one to now (sorry for bad quality at work took picture from work computer)
The red line is BTC's first all time high in November 2013 where it traded at $1,169.
From that ATH it had a down turn that took 3.2 years to test the ATH again on March 10 2017.
That's a 3.2 year bear market where Bitcoin retraced nearly 80% in value before recovering.
Here is where I have an issue anyone using traditional metrics as the key to their full understanding of a market that has so many different faces. I agree we should use elliot waves in investigations of these currencies. But the market itself is a totally different monster than it was just 3 years ago, I say just three because it was just getting established as a market at that time investors were all guessing. Bitcoin was the only true currency that's why the others are alt coins (anything other than bitcoin). I think that definition will change soon to group ETH with BTC imo.
We haven't even felt the true impact of all the new investors and their behavior the market has been flooded in the past 3 months that's why all the exchanges are having issues dealing with the growth.
We also don't know what truly drives cyrptocurrencies is it traditional news? The actual tech behind the coins? The crowdfunding aspect? Hell the same smart ass advisors told my sister to sell all her apple stocks because computers weren't going to stick around. She still mad as fuck,lol.
So until there is a firm grasp of the technology by the majority of its investors they only behavior that is truly present will be these quick sell-offs after a few bucks are made. And that's they way it should be because people dont understand the products in the actual market. But why should they care right now they are just trying to grab cash. Until we understand and can see how tangible cryptos are in our daily life its going to be a series of cash grabs as evident by the last month.
However, with the influx of billions of cap weekly ALL prices will rise (now all isn't all but the market in general).
Since the banks themselves are using these products we have a few years before anything drastic will happen good or bad. This market isn't even mainstream yet.
People comparing it to the dotcom. but that was a segment of a larger market. My reasoning for my dim view of the dotcoms was because I know hella programmers and people in that industry and the products just were not there to back up the money. It had nothing to do with the type of produts but the valuations were way off from the start. But that was done from greed they didn't give a fuck because tons may have lost money but tons got rich. Crypto is the whole market, new rules being written. The only segment in the market is Bitcoin vs the field as I said ETH is trying to joining BTC.
I look at the three top currencies in market cap this way BTC-og, society vs the banks ETH- playing both sides of the fence, XRP the revenge of the banks.
People working with these instruments have sort of figured out how the first two function but we haven't even seen the impact of XRP yet.
So back to your analysis, I am not sure how using one tool to try to diagnose the entirety of this particular market can stand on its on. The market IMO its developed enough to make such bold predictions re:the market for all cryptocurrencies.
There are tons of new ICO's popping up every week. Was ICO's even a thing two years ago?
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This is one of my points. ICO's themselves are a different creature where an investor can get in an ICO dump tons into it and sell as soon as it actually hits the market for a huge profit. With portfolios like Spaceage this is a very low-risk maneuver with huge potential gains.
WHERE ELSE CAN YOU DO SHIT LIKE THIS?
That's the nature of speculation: you're putting a dollar value on future utilization.
Besides Bitcoin and Ethereum what coins are being actively used in consumer application?
At least with the currency class coins like Monero they have use in the dark web.
Dash, Litecoin, etc haven't even begun wide spread adoption.
I understand putting an investment in some of these established coins but there is no reason a shitcoin like Verge or Bytecoin which was a industry wide failure are seeing big valuations.
That's the essence of the bubble and similarities to the dotcom bubble. Do you remember Lycos browser? Or Ask Geeves? Or any of the myriad of search engines that popped up in the late 99s?
Fundamental analysis separates the herd and fundamental analysis is not driving Doge coin having a half a billion dollar valuation for a joke coin no longer in development.
So yes you can make mad money in this environment we all are, but there will be a time when investors expect real dollars behind these coins. Real assessable value.
I'm dumping 100g's into the next hyped ico. If I can get in.
you already can with wagerr i think the ico is still going
I like your logic man. So in general we are either buying and holding or buying and flipping.
So the only coins to hold should be Bitcoin, Eth, and XRP.... Coins (or shit coins as you call it lol) like xvg, doge, etc... We should buy and flip because eventually they will burst/lose value real quick.
If Im following you correctly.
And let me say it again: I'm very bullish on the entire cryptocurrency market, what I'm saying is nothing goes up in a straight line, there are peaks and valleys and I am expecting a valley to emerge after 7 months of incredible highs.
Prepare yourself is all I advise because trust I will be making money in a bear market and if the market turns I would have dumped all my over priced shit into the hands of greedy new investors right before it turns.
Prepare yourself is all I advise because trust I will be making money in a bear market and if the market turns I would have dumped all my over priced shit into the hands of greedy new investors right before it turns.
I just got an email that my mobile go tokens were delivered. They are supposed to list after all tokens are distributed.
Just alert us when you're about to make moves. lol
Thanks fam and yes buy and hold good assets.
However.......
Look at your portfolio balance today.
If I came from the future and told you that X coin currently trading at $1 would be worth $5k a coin in 2020 but from August 2017 through August 2018 it would fall from $1 to $0.01 before rising again, if you currently had 100k X coin would you sell them now or keep buying?
If your style is to hold while watching your portfolio drop from $100k to $1000 before gaining again then cool.
If your style is to sell it at $1 and cash out for $100k now and rebuy the 100,000 at $0.01 for $1000 while pocketing the $99,000 you earned, then cool.
Its all about strategy and approach.
But you don't wanna sell wagerr when it releases because the value is tied to the amount of people using it for gambling.
I got cold feet on wager. Don't know why, esp being that I gamble daily on bovada
Gotcha! So its really just taking a calculated risk on when the bear market will come, cash out before then, then buy back at the lower price (more coins) and then watch your portfolio or that coin gain value during the bull run.
So i guess the million dollar question is are we headed towards the bear market with these coins? Or am I thinking too deep
Man. I'm seeing coins from 2014 going up like crazy. Fucking vertcoin? Maxcoin? I just remembered I had a Vertcoin wallet but I see that I dumped in early feb 14. Damn. Reddcoin? Man listen. Doge? Turns out some defaulted exchange sent me both the public and private key to my doge since I just forgot about them.
The difference I see from then to now is that most just wanted to replace bitcoin back then. Now folks are pushing how they will bring blockchain tech to a specific industry to solve problems.
I totally agree. That's why we do our due diligence in researching said coins.
But lets talk about WAGERR what if they just needs to raise funds for development and their tokens don't have any future value as a moveable currency. That still doesn't mean that the coin can't represent company value.
Those are the issues these coins are all in different classes that have yet to be defined so how can we define the market?
This is in part due to market expansion. Remember lots of folks have zero knowledge beyond the prices of the coins. So if they see a buy low sell a lil higher opportunity in any coin they will take it. So even in the short run shit coins can turn profits. It will take a LONG time before that stops. People aint that savvy nor is the market nearly close to being that mature to weed out these factors.
Like @LegalMoney said, its all an investment style choice. Time, initial capital, willingness to react to changes, all those play a part in how you invest.
However, most people who win over the long term play the market(in this case own lots of coins a few shit all the leading coins and some in between) over the long hall you will win.
I flip coins all the time but with long term goals since I am out of large lumps of capital to invest. So basically I have to do a bit of both to grow my pots. But I don't sell a coin in its entirety. I did that early but see that was a mistake (sold my ETH at like $95 bucks) I only had two of them but shit. I had to buy back in $170 later at $250 smh LESSON LEARNED
Yeah, I broke shit into coins(concepts) I think will do good long-term and short-term flips(like digi/verge). Eth, XRP, Antshares(got in when it was in the 90s), and some others are some I will gamble on long-term.
Still want that homerun, but I'll be happy to take nice returns on short-term investments. I'm playing with house money now. Can't believe I'm like
with 100 percent returns. I'm not going to stop swinging for the fences, but I'm going to be much more satisfied with manufacturing runs and winning the fucking game.
Yeah, I broke shit into coins(concepts) I think will do good long-term and short-term flips(like digi/verge). Eth, XRP, Antshares(got in when it was in the 90s), and some others are some I will gamble on long-term.
Still want that homerun, but I'll be happy to take nice returns on short-term investments. I'm playing with house money now. Can't believe I'm like
What he said lol I think homeruns will be present for the next few years until the market matures etc. At this point, I am just trying to position. I am in the game now!!!
No you're not thinking too deep!
Whenever an asset is over bought it is sold down until it is over sold then it is bought until it is again over bought. Supply and demand.
That's how every market in the world works and the more stable and liquid a market the longer for these trends to play out.
The entire crypto market is still a $60 Bn blip compared to the NYSE which has daily volume of $3 trillion a day! Its easier to see the trends in crypto since there is less volume.
So the question is when will the market turn? How would we even know? What are the signs?
While I'm one voice and i'll share with the fam my opinions, yall shouldn't expect someone to warn you when a market will crash or take a down turn.
Did anyone warn people buying houses the day before the housing market crashed? Nope.
Most big money investors and traders can see the turn coming before the rest and cash out once again leaving the masses to hold the bag. Expect the same here.
Yes people warned those folks buying houses. It was greed by the banks and the owners. They knew damn well the couldn't afford those houses and were just as surprised when the greedy banks gave them the loans. Same thing happening in LA now. The techies are driving housing and rental prices up but the median income for los angeles has dropped by over $5,000. Its fucked up, people are selling their rental units and new owners coming in doubling the prices on the tenants they have to move to the other side of town. But soon enough there will not be enough tech money to go around and prices will come back down (ie bubble pop) . That's why I am here trying to get these funds up lol. They said the loans are harder to get they lied. They giving them shits out like candy, they approved me for some shit they know I can't afford told me and wifey to go fix some issues and they would bump that up 150k. I was like here we go again. I know how much I can afford so they knew too they were greedy and got caught I will not cry for them. Ain't nobody bout to cry for me if I lose my money on this crypto shit.
@LegalMoney don't blow my high. Let me get two years without a crash. After that the whole market can mash up. I'll be in Asia, Africa, South America somewhere being catered to by various women...
It's crazy. I remember last time China came down hard and Bitcoin dropped like a rock. This was in '14. Will the fork of bitcoin be China '14?
It's a crazy time now. How many millionaires have been created recently? Back in '13 and '14, we had the bitcoin millionaires. Now we have Eth, XRP, Strait, and other millionaires. Without a government crackdown, will they continue to try to flip? Will they just look to coins that trade to Eth on exchanges because of the upcoming bitcoin fork?
I've noticed how crazy the KYC compliance is from then to now. It's a different ballgame.
I know I mentioned this before, but if we stay dilligent
trust me we will be in a very nice position in 2-5 years down the road and
the way time is flyin its really not a long time....
remembering what I wrote many pages back in this thread..
there was some dude in 2010, who bragged about buying two pizzas with 10,000 bitcoins...
lets NOT be that dude.....
On May 22, 2010, a developer bought two pizzas using 10,000 units of a then-little-known digital currency called bitcoin.
Today, 10,000 bitcoins are worth more than $20 million (£15.4 million)
http://www.businessinsider.com/bitcoin-pizza-day-passes-2000-20-million-2017-5
eth, litecoin, verge, ripple... patience and doing some research is the key..
panic sellin will fuck you over all the time....
trust me we will be in a very nice position in 2-5 years down the road and
the way time is flyin its really not a long time....
remembering what I wrote many pages back in this thread..
there was some dude in 2010, who bragged about buying two pizzas with 10,000 bitcoins...
lets NOT be that dude.....
On May 22, 2010, a developer bought two pizzas using 10,000 units of a then-little-known digital currency called bitcoin.
Today, 10,000 bitcoins are worth more than $20 million (£15.4 million)
http://www.businessinsider.com/bitcoin-pizza-day-passes-2000-20-million-2017-5
eth, litecoin, verge, ripple... patience and doing some research is the key..
panic sellin will fuck you over all the time....
Looks like we need to just get both ETC and BTC and be ready to move. Also be ready to move right the fuck back in!!!
I wonder how many folks will say fuck BTC and just go with ETH. Anyone who made a lot here can just pull their money out through ETH via coinbase.
Fees and transaction times have become fucking insane with BTC.
I lowered my stake in XVG and have about $13k invested in it
bought back some stake in XRP and have about $62k there
and about $5k in wagerr
I'm keeping the wagerr not sure where exactly I'm gonna store it...waiting for them to issue the token later this month or in july...I think I might/should be able to store it in a WAVES wallet...keeping the XRP as is and will more than likely sell off XVG for ETH if there's no significant movement there...I'm gonna chip away @ owning one BTC starting from now...on the chance that once this split shit is cleared up BTC will probably come back w/ a vengeance...everybody views ETH taking over BTC spot as imminent tho...so this might be what sets that shit in motion
There is one coin per day that seems to go up 50 to 75%
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