People are free to invest in what they want. I will only invest in fixed stake, low cost, NEM style airdrops in the future. If whales want to give a bunch of people millions of dollars for empty promises, more power to them. It doesn't take a rocket science to figure out these developers are going to take the money and run, in large part.  I'm not faulting them, after all I sold almost my entire NEM stake while the getting was good, I'm saying be careful with your investments and don't become emotionally attached to them.

Once the market gets bigger and there are more ways to access bitcoin.. trustworthy exchanges, ETFs, the price will stablize.  In the end though the bubble has burst for now, I fully plan to buy back in and fully expect ETFs to hit some stock exchanges at some point. This will drive up demand significantly. In the end I believe Bitcoin is going to stay king, and that the crypto space would be better served used as a store of value, like gold, rather than investing in the tech, because like I've mentioned already, it's all open source anyways so anyone can rip off or create their own at any time. Since bitcoin has the name recognition and exposure, it's important we support it, assuming they take the necessary steps to reduce fees and improve the tech over time for scalability.

Right now the barrier to entry with bitcoin is about the same or slightly more difficult then that of setting up a Fidelity account and trading stocks, so I'd put it at the level of a stock... the value it has is given by what people are willing to pay for it, like a stock or commodity.  People love the profit aspect of it but the crypto space won't have confidence by joe sheep until a coin exists that maintains a fixed price without fluctuating all over the place all the time.

Of course the fixed supply aspect is a net benefit because fiat currencies always inflate, but the crypto space's inflation comes in the form of new altcoins being introduced all the time which serve to dilute the value of the existing coins. This is where sticking with bitcoin makes sense... it's  basically the gold standard .. the one people will sell the rest to hold onto. I'd say Litecoin, but it was just trading at a $180M market cap a few months ago, so it's future of being pumped to $100 per coin is far from certain. It's inherently no better than bitcoin and there are a lot of alts with superior tech at this point.  It has the advantage of being traded on the likes of Coinbase and others and being perceived by many as being the "silver" to bitcoin's "gold." Keep in mind that despite the fact there's about the same amount of silver above ground as gold, the gold to silver ratio is around 75:1

In the end, since everything is open source and all these altcoin's blockchains can be ripped off to create new coins or used by corporations without remuneration, I wouldn't trust any other crypto for long term holding than BTC, assuming they keep up with scalability and fees go down.  Altcoins are for play money.. invest no more than 5-10% of total holdings in any given one.

Nobody, and I mean NOBODY, will ever use the features these shitcoins provide, like bitbay, wagerr, etc. They're interesting, but real world usage isn't going to happen, and if it does, a big player will rip off the blockchain tech and create their own version that's transparent to the end user, meaning they'll create a web interface around it and make it so the person doesn't even know they're using a a tech based on the blockchain  unless they research it. Of course nobody cares, and will still invest in them, thus so will I. I wanna make money after all.

Don't panic sell during dips.. wait for the bounce. I admit it takes balls of steel and experience to do this. In any case you'll be fine, BTC is headed down to the $1500 range.

look at pascalcoin 2.1's wallpaper.

https://github.com/PascalCoin/PascalCoin/blob/master/PascalCoinWhitePaperV2.pdf

I sold over 2 million NEM, most of it between $1.7 and $2.5 B market cap, leaving me with about 150K left, and sold all my other altcoins except Pascalcoin, Xtrabytes, and Ark, which are all down significantly.  Not sure what I'm going to do now. It's much easier to spot bubbles and sell than spot bottoms and know exactly when to buy. I suspect we go quite a bit lower yet and base for a year or two like during the 2013 bubble.  I feel bad I was promoting some altcoins during the bubble but I did warn people when the charts said it had burst, so there was time to get out if a person was following my posts that closely.  It wasn't just that, it was the market depth on poloniex, and how greedy the ICO market was getting. It smelled too much of the tech bubble in 99 when pink sheet stocks were doing the same things altcoins were doing during this bubble.

A stock called "ECNC" going from my buy price of 25 cents to 9 dollars in a month when I sold it bought my first car fresh out of high school. Then I got lazy and didn't stay involved in the stock market and played video games instead, and here I am at age 35 doing alright, but I could be retired by now had I had more discipline. NEM doubled my net worth. Most of it's going into the fidelity account for more stable stock market investing, but the stock market is pretty high right now, too.

Life goes by fast. If you made a ton of money in cryptos, take a third of it and go out and enjoy life.

I found an old post by someone else about that ECNC.

https://www.investorvillage.com/smbd.asp?mb=82&mn=17&pt=msg&mid=11362

How's this trade working out for ya?

I was sleeping during the dip to $60B. Sigh.  We're definitely closer to support levels now, but not quite there. I'm going to wait a bit longer. LTC hasn't sold off, either, so if I buy the dip I have to buy something else.  Maybe I'll buy back the NEM I sold but I'd rather buy something I think will pull a triple or better. Time for some digging.  Since we already bounced to above $65B I'm not gonna swing trade here. This ain't the bottom. Congrats swing traders who got in at $60B though.

There's so many coins that promise the same thing I'd be hard pressed to find one that's unique, but I'll do my best.  Pascalcoin really but nobody cares about the tech in it since because it's open source, someone already cloned it anyways.

Ever hear of sell the news? Aug 1st isn't going to make bitcoin magically recover.

Best guess... around a $25B market cap for bitcoin and a $25B market cap for all the other altcoins for a combined $50B market cap, the major plunging will be over and we'll kind of drift around in the $50B-$65B range for awhile and consolidate.  It could end up being closer to $20B for bitcoin and $30B for altcoins, however... somewhere in there...  we could drift lower over the course of a year or two, just like the pop back in 2013, however. A year from now we might be at a $30B market cap, or a $300B market cap.. charting is far from a perfect science and is used only as an educated guess on short term  to mid term moves.  If I was a betting man, I'd bet on $30B. There's nothing inherently valuable about this blockchain tech because like I said before in other threads, it's all open source so any company can rip it off without remuneration.   None of these tokens for these services are ever going to take off and be used in any serious way by the masses... get serious here... wagerr will not be used by anyone not familiar with cryptos and is largely a cash grab like most ICOs. If a major vegas operation or online gambling site wants to use the blockchain tech, they'll just rip it off.. why pay any of these coins/tokens for something they can take for free?


best free photo hosting

Shoot a foam nerf dart at your computer or TV screen and pick the coin it hits and buy that one.

Transactions per second in the hundreds to thousands.

Blockchain Trim, which is already available via PascalCoin and their account numbers system.. a max blockchain size of 6GB is just about perfect.

Some sort of price stability would be nice, but not necessary as I view these more as investments at this point... any price stability will come from me simply holding USD on GDAX or Gemini until a better solution is provided besides Tether, which I don't trust.

Instant verification of transactions without the need to wait a half hour or more to prevent double spending.. according to Pascalcoin's whitepaper, they may also have addressed this issue... this will come with time.. in 2 years we shouldn't have to wait 30 minutes for funds to show up on poloniex, but we will because we'll still likely be using BTC as the gold standard, and as great as it is, it's outdated code.

Low fees, of course. Many coins have solved this.

I'm trying to find support levels but I see nothing until about a $50B total market cap.  Also the altcoin marketcap looks just as bad... nothing but air until about $20-25B.. If I was a betting man I'd bet bitcoin is going to drop to a $25B market cap and the rest of the altcoin market will drop to a $25B market cap for a combined $50B over the next month or three.

The market depth on poloniex is looking better.. we'll see if that matters. It's not as lopsided as it was when we were around $100B market cap, that's for sure.   I doubt we'll ever see $600 bitcoin again... $900... questionable, but unlikely... $1200 is the likely floor....

If you're invested, pull down your pants and bend over... get ready for some pain.   As for altcoins, they all seem the same to me now.. either promoting worthless smart contracts, worthless tor integration, or other garbage, when what we need is scalability.. transactions per second and blockchain trim. Pascalcoin solves the blockchain size issue, now we just need to integrate that tech with tech that increases the raw throughput (transactions per second)... Dash and NEM (mijin) promise raw speed, but so do other altcoins like HEAT.. delivering is another matter... the rest is gravy and can be coded into any old coin.  I'm beginning to see that there are a dozen coins that all do the same thing and getting them to pump is more a matter of marketing and the right exchange than the actual tech involved.  Also, these token based coins are worthless, 95% scams. The real world use for Ethereum is rather limited.  Even if it's not, companies will just go and rip off the blockchain tech without compensating anyone, because.. drum roll.. everything here is open source!  I'll be looking for the next big thing, that's not open source and not easily copied by anyone and turned into a clone coin.

In the meantime, research is ongoing.   Also, we should start a betting pool.. guess the date when Tether comes unraveled and everyone using it as a store of value loses their ass. Person to guess the date closest gets the pool.    I guarantee you they don't have the $250 million and rising in reserves to "back" things up. In a perfect world it would just keep working and doing it's job forever though.

First step.. set up your accounts on bittrex, poloniex, gemini, and gdax/coinbase.  Get 2 factor turned on, strong passwords, verify your identity, add bank accounts where applicable, and up your deposit and withdraw limits. Buy BTC on Gemini or GDAX and transfer it to Bittrex or Poloniex. Buy your altcoins at this time.

There's so many that make similar promises that I have no idea.... aside from Pascalcoin and perhaps Xtrabytes.  Dash and NEM both have the potential to be the next big thing as well but they're both already expensive and this market is gonna tank.

pointless coin.

Unless it's a true distribution where they plan to give away 90% of the coin in even blocks, and not reward whales like Byteball is doing by giving people who own more BTC more coin, I'm not going to waste my time on it. Maybe I'll do the deeponion one. I post 10 times a week. Depends on what I find when I research it.  Probably won't invest in it.

The time for a swing trader to buy is when you get far enough outside an established range to make it worth your while because you'll almost always bounce back up to resistance. For example in the included example here you can see we sold off significantly below the bottom red line, more than twice the distance, and bounced back up too it. These type of trades are quite profitable and it's why swing traders like wild swings and big moves because they are actually easier to predict than when a market is drifting around doing nothing.


fb upload image

Ultimately the above guy is right... bitcoin will eventually hit all time highs, but whether it takes 2 months and a 40% selloff to base or 3 years and a 75% selloff to base remains to be seen. This is why they tell the average joe to just dollar cost average, and not try to time the market.  The bigger the move, the longer it takes to finish the cycle, kind of a law of nature.... it took the Nasdaq 15 years to get back to 5000.

I'll use this thread to throw in my latest analysis... I threw in a look at the short term selloff we had around May 26-28 zoomed in to see what we could possibly have in store if the bubble has indeed not burst but just corrected really badly... I'd estimate a drop to around $65B market cap hard and fast and set your limit orders around these levels to pick crap up for the bounce... I think the bubble has burst for a few months to years but if it hasn't it could surge back up to all time highs within a month or two after this correction.  Charting is not perfect, it's educated guessing at best.  Either way I believe we sell off from here, correction or burst regardless.


Disclaimer: You are responsible for your own investing decisions.