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Your information is wrong, there aren't that many countries that have made crypto illegal.
The vast majority of countries don't have regulations with quite a few that openly embrace it.
There are some that regulate it, but nothing special, they just apply the same laws towards investments to crypto.
The reason why there is still this idea floating around that crypto is shady most likely has to do with the black market.
One of the biggest online markets on the darknet was silk road, a place where you can buy drugs, guns, anything.
The major form of payment was btc.
Silk Road eventually got shut down but people see btc as "dangerous" because it is anonymous.
They then assume that all crypto is dangerous.
Crypto is made possible by revolutionary blockchain technology that is decentralized and open source.
It mathematically eliminates the need for trust in a middle man and makes things truly peer to peer.
To me, crypto is not dangerous, but very beneficial.
Now, if you are talking about if crypto is dangerous to invest in well then...
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The biggest mistake I made was panic selling.
I think everyone can relate to this.
It was actually last november when the market was going through a strange phase.
Bitcoin was being pumped super hard while alts were all crashing like crazy.
Basically, everyone was selling their alts to buy bitcoin.
They were doing this because there were some big name btc forks coming up and everyone wanted to "double" their bitcoin through the forks.
BCH had just pumped hard so people were thinking that the free btc gold they would get would do the same thing.
I had no idea any of this was happening, I just saw red red red.
So I panicked and sold almost all of my alts for a very expensive btc (expensive at that time).
I lost about 60% of my portfolio's value by doing so.
What I learned from this and started incorporating in my trading practices, was to #1 NEVER sell at a loss even if it means holding for months and #2 Research price fluctuations more to buy/sell at optimal times.
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What is the famous saying....."If you can't handle the heat get out of the kitchen."
There are so many people crying about the recent of BTC that I'm frankly getting annoyed. You should know the risk involved in investing in crypto. If not, don't even waste your money. Go buy a CD that won't make more than the rate of inflation. Remember investing is literally legalized gambling. Treat it as such or don't even jump in the pool.
"Investing is legalized gambling"? Although I understand your frustration, it is clear that you have a skewed vision as to what investing is. Or perhaps you were just trying to make a point? Investing is not a game of chance at all. Through the analyzation of quantifiable metrics (GDP, Market economics, Cash flow, Interest and appreciation rates, etc) you can make fairly accurate predictions as to where money is going and what will be profitable. Of course, it would be impossible to predict to the very dollar or cent and saying at specifically this time an asset will rise 12% in value is impossible too. But if you educated yourself and continuously informed yourself with relevant data, you will see that your risk rate is DRASTICALLY reduced. For crypto, it is more unpredictable because of the volatility, but even in speculative markets there is a wealth of information to analyze to make informed trading choices. Those that are whining and complaining jumped in which get rich quick mentality, they are probably the types that are most suceptible to being scammed. But those who say investing is gambling will never see their portfolio reach it's full potential. |
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You should really make an investment plan and then run the numbers.
Here are some important questions to ask yourself:
#1 - What is your financial goal this year? (how much money do you want to make) You should divide it up into quarters (every three months) and set targets to meet in order to reach your overall yearly goal.
#2 - How much time and resources can you realistically put into crypto investing? This will determine if you should be doing day trading, buying low selling high, hodling, ICO investing etc.
#3 - What resources do you need in order to meet your goals? (basically, what do you lack that you need to learn about)
After you establish this, just crunch out your numbers. How much you put in, how much you bought, what percent increase it needs to get to to meet your goals and by when.
This will then tell you when you should sell.
Trust me, it is a lot better to use knowledge and solid plan when doing crypto instead of just hoping to someday sell high and stressing out when it goes down.
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My plan for this year is to take full advantage of the bull runs.
After having experienced a couple last year and trying out different strategies, I finally settled on one that suites me well.
Since I'm a pretty normal guy with a full time job, I can't devote a lot of time during the weekday to trading.
So I developed a way to do numerous quick trades with small profit throughout the day as I am able to check the exchanges for only short periods of times throughout the day.
But it all adds up, even if each trade is only a 5 to 10 dollar profit, during a bull run where there is high volume I can do 20 to 30 of those in a day.
That significantly increases the amount of btc I own (which is the what I am sticking with for this year).
After btc hits, 40k I am going to cash all of that out and reinvest in a more balanced portfolio with eth as my core investment.
I love btc, but I don't see it being bullish beyond this year as other coins will start to take its place.
I will always have my satoshi nakamoto shirt though lol.
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Lol, why aren't you satisfied?
Are you losing money?
Are you not making as much as you want?
Personally, I am really happy with how my investments are going.
I have made some mistakes, one huge one, but have learned from them and now have an investment strategy that matches my schedule very well.
So now, I not only get more gains but are more satisfied and enjoy trading.
The best thing about all of this, is that I recently did a full analysis and set up a trajectory for the last three quarters of 2018, and I am well on my way to my portfolio
being worth 600,000 usd.
and this is from starting out with a 12k investment.
The thing is, although I can give advice on how I do it, you really should analyze your financial situation and schedule, and build a strategy that is built around that.
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It's not normal.
Think of it in normal business situations.
Bounty hunters are the company's marketing department that are freelanced.
If you heard that a company hired a bunch of people to do marketing for them, and hasn't paid them for 6 months, would you still trust that company?
Obviously, they don't plan on paying you.
Or, they are so incompetent that they don't know how to run a company properly.
I will give you two examples: Belugapay and LEDU
Belugapay: has locked the spreadsheet of stakes and hasn't even released how much coins we will receive. On top of that, they are releasing 50% of the bounty in 6 months, and the rest in a year. This was never openly said to the community, but it was in the whitepaper (it was a tiny chart...)
LEDU: The ico has been over since feb, and they gave a distribution date on 3/30. Now they started delaying saying that they are taking time to find "cheaters". It has been a month and whenever anyone asks about it, they just say, "Soon" or "Wait for an announcement".
Yeah, you expect me to trust this companies?
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And today is another price correction haha.
Well, that is the way of things.
This past week and half, btc has been going up steadily but a lot of other coins have had some serious growth.
Things like that are actually only short term viable and price corrections do come.
In the case of bitcoin cash, like people have said before, it has no legitimacy in the crypto sphere.
Only people who are ignorant to it and only chase after money believe in it.
Despite what people say, btc is still king and it is what directs the market.
For now, the safest thing to do is to stick to the coins that are more stable and reliable and hold on to your more speculative ones.
Suddenly jumping into things too hastily will most likely get you burned.
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Right now is not really a good time to invest in an ico, especially for a quick flip.
Although the market has been good the last week or so, today's drop shows that there is still a lot of reluctance in the crypto market.
It is hard to do a quick flip if there is not that much volume or demand.
However, this doesn't mean that you can't buy the coins after they hit exchanges.
There are a lot of icos where the price has fallen below ico levels after going to exchanges.
I still believe there will be a bull run, probably in Mid may or so.
So you can potentially buy some very recently released ico coins now for super cheap and flip it for a profit in late may/early june.
As far as investing in the top coins go, that isn't really as profitable as people make it out to be.
You would have to invest in a top coin that has real use potential and a product that has already gone to market.
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From: https://cryptodaily.co.uk/2018/02/neo-could-surpass-bitcoin-by-the-year-2019/NEO Could Surpass Bitcoin By The Year 2019
By Simon Chester on February 20, 2018 2 Comments / 6648 views
NEO is a Chinese technology which marries the concept of the smart economy and cryptocurrency. It’s a cutting-edge player which looks set to become a cornerstone of the Chinese economy in the future – and as China continues to go from strength to strength as a world superpower, this essentially means that NEO will also become a major league global cryptocurrency in its own right with unparalleled real-world potential.
At the time of writing, NEO is currently the seventh-strongest cryptocurrency at $134.28USD. From an investment perspective, it makes perfect sense. This is because with NEO, the buyer also accumulates another crypto; Gas. That’s right – by simply holding NEO, the investor will incrementally receive Gas, which is tied in closely with China’s biggest Crypto. Gas can be spent in much the same way as any other cryptocurrency, and essentially demonstrates the confidence China has in NEO.
Revolutionary
Neo Crypto Logo on Moon With Bright Light
NEO is linked to smart contracts and artificial intelligence powered by the blockchain – any investment essentially funds these revolutionary technologies, which is precisely the reason why developers and investors are turning to NEO:
These emerging technological advancements are more exciting and forward-thinking than Bitcoin, which despite its recognition does not have the same real-world applications as newer currencies like NEO. While Bitcoin has brand-recognition, as the most renowned cryptocurrency it tends to suffer from over-inflation, whereas NEO’s reputation is based completely on what it is capable of being used for.
Bitcoin killer
As the public consciousness adapts to cryptocurrency technologies, NEO could easily become the Bitcoin slayer. Given China’s economic prowess and continuing technological advancement, NEO’s overtaking of the rest of the big five coins is only a matter of time – when it eventually topples Bitcoin remains to be seen, but some experts are predicting that it will become the cryptocurrency of choice for many traders as soon as 2019. Source: https://www.youtube.com/watch?v=NpDLcolqqzcLol this is so uninformed and ignorant it makes me laugh. Neo is China's biggest coin? It will be the cornerstone of the economy? Anyone that has any kind of network contacts in china knows that BTC is KING! Chinese crypto is much different than the west. They have vast networks of miners, buyers, and sellers. And they are all pushing btc. There is no backing of NEO at all! Not only because it is temporarily ILLEGAL for chinese to build on the neo platform, but because they already have a working and successful hand in the crypto world through btc. To say that in just one year's time, neo will be bigger than btc because of china is absolutely ridiculous. Do your research people, make real world connections, make informed traded choices and win! |
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Sorry, I disagree with you.
It's not patience it's knowledge.
The problem is not that people are impatient, it's that they dont' understand the basics of market economics and crypto so they have impulsive reactions to market fluctuations.
Yes, patience will eventually give you profit, but honestly, just being patient will not give you high returns.
You need to actively be making informed and intelligent trading choices.
Just buying and sitting back won't do it.
After the whole crypto bubble fiasco is over, there will be a lot of people who didn't make as much as they wanted all because they didn't educate themselves and take an active role in making profit off of the market.
But, to be fair, what you say does have merit.
Anyone that panic sells when prices are crashing is seriously an idiot.
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Hi guys and gals! With a budget of 1000$ which low capped coins with high potential should I go for?
Am looking at MOD but it seems too high for the current budget. How about XVG, NPXS, LYM, LCC?
Thanks in advance
If you are just starting out, than I highly recommend you don't put everything into one coin or even two coins. The best way to build your portfolio is to build it around a "base" coin, either btc or eth. 40 to 60% of your portfolio should be that coin and you will use that to make strategic purchases in the future. Since $1000 is not a lot, you don't want to spread it out accross a lot of coins, so ideally three to four other alts in addition to your btc or eth. Definitely DO NOT go for xvg, overhyped, overvalued useless shitcoin. LCC avoid, typically forked coins don't do very well long term (Bitcoin cash is the only exception). NPXS is pretty new so you have to watch their development closely. More than just looking at just low capped coins, you should take a look at their actual product. If they don't have one, skip, if they do have one, compare it to something similar in the top 100 coins and see if it can do things better. |
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Whoever said it was dead?
If anyone thought it was dead than it is just a huge amount of stupidity.
It's like those noobs that see the price of btc go down and they are all like, "Is btc dead?"
That just shows a huge lack of understanding of trade economics and what crypto is in general.
Blockchain technology is absolutely revolutionary.
It is a way to completely eliminate the middle man and the need for trust.
Everything is decentralized and it's all just math.
For businesses, it is a way to drastically reduce costs.
For consumers, it is a way to hold businesses accountable and transparent.
For governments, it is a way to verify information and track numbers.
There is no way that blockchain will go away.
Now, as far as the individual companies that use the blockchain, of course, a vast majority of them will go out of business.
But that doesn't mean that crypto will die.
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Crypto is already accepted at a lot of shops.
Not so much in the West, but in China, Korea, and Japan it is widely used.
I guess it's a little different than what people are imagining.
For example, it's not like a store says, "We accept bitcoin!"
Instead, major payment portals like alipay (which is like apple pay) accept bitcoin.
So you fill you alipay account with bitcoin, and use your phone to pay.
Just about every single vendor accepts alipay so you can pay for everything with bitcoin.
Movies, eating out, shopping, everything.
Now, I personally wouldn't want to use bitcoin to pay for daily things until it stabalizes.
Just think about the practical aspect of this.
You pay .000005 for a bowl of noodles, the next day the price of bitcoin jumps and that .000005 btc you spent actually becomes way more expensive.
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First off, assume that EVERY project and ICO is a scam and they have to prove to you that they are not.
That is how it works in the normal business world.
Companies have to prove that their product works and their business model is viable before people decide to invest in it.
Just imagine watching the tv show Shark Tank.
What if someone came on to pitch their idea and they had nothing to show.
No demo, no product, no anything.
All they said was, "I wrote up this paper that talks about all the things I want to do."
There is NO WAY that anyone would invest in that.
So any legitimate company that has a longterm chance of being successfull will answer your questions and concerns and be willing to show off their product.
If they don't have a product, run away.
If you can't contact them, run away.
If they have no track record, run away.
If they ban you for raising concerns on telegram, run away.
Set your standards high and imagine it is a real life company (because it is!) that is trying to pitch their product to you to buy and you will develop a great sense for what is legitimate and what is not.
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Have you invested in an alt that you really believed in and then ended up getting rid of?
There are two big ones for me:
OMG and IOTA
I imagine there will be some people who will tell me that I am stupid and that I just need to hold them, but I am glad that I sold them off for other things.
For OMG, it was so popular with a huge following last year. I had tracked it's ico (I didn't participate) and it's huge price increase. I researched all about it and was confident that they had something amazing.
...and then...nothing. No development for ages, just nothing. Now, there are so many crypto payment projects that actually work that I believe omg has been left behind and can't catch up, even if it is still technically a top coin.
For IOTA, I was 100% sure it would be the absolute evolution of crypto and become a new standard. Instant, feeless, and scalable.
I ignored all the fud surrounding it and poured a substantial amount of my portfolio into it.
I was a firm believer that in 2 years, IOTA would be IT.
...then, I ran accross Nano, and after using it just once I moved all of my iota to nano. Here was a crypto that was instant, feeless, and (admittedly theoritically) scalable that was already up and running and working like a charm
Any big changes to your portfolios since you started?
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The reason why altcoins are dependent on bitcoin's price is because you can not buy alts with fiat.
You have to buy your btc, then use the btc to buy the alt.
If you want to cash out, you have to change your alt to btc, than sell the btc for cash.
So that's why prices are dependent on btc.
But, there have been changes. There are now quite a few alts that are entirely dependent on the price of ETH.
ETH has gotten more and more easier to change to fiat.
So a decentralized eth exchange will have all of the prices of the alt dependent on the value of eth.
And now, there are quite a number of ETH tokens that aren't doing well and can't penetrate the exchanges or market so they are stuck on no volume exchanges and IDEX or etherdelta, so they are entirely dependent on eth.
Because of these realities, that's why it is important to choose either btc or eth as the base of your portfolio.
That means, you make 40 to 60% of your coins be either btc or eth, and your trades should be aimed at overall increasing the amount of those coins you have.
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Localcoinswap ALL THE WAY. It is like localbitcoins but with a vast array of coins supported. The exchange will launch in april with 14 coins! If you don't know what localbitcoins is, it is basically like ebay for bitcoin. You can put up your crypto for sell, designate how you want it to be paid (western union, bank deposit, face to face cash exchange, etc.) and anyone can buy them. To protect the buyer and seller, there is an escrow service that every transaction goes through. so, you put up how much of what coin you want to sell and how people can pay for it. Once someone requests a trade, the coin goes into a third party escrow service (it holds it there until the requirements are met). The person pays and shows proof of payment, and then the coins are released to the buyer. No fees, no middleman or anything, it is truly peer to peer as blockchain was intended. On top of that, holders of the localcoinswap token will get a return on ALL profit the site generates. If you hold 1% of localcoinswap tokens then you will get 1% of the entire profit each quarter. check it out: www.localcoinswap.com |
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Um...ok, yay?
I guess people will be excited to get "free money".
Kind of like the crazy bitcoin forks craze last november.
But I fail to see how this is beneficial at all.
The reason why monero is the greatest privacy coin is because of the active development it has gotten.
The community is great and there has always been consensus which has allowed for it to become what it is.
Now, a bunch of people still doing the original monero blockchain (it isn't the entirely original one btw) is the first sign of a split in the community.
Granted, it is minor and doesn't seem contested, but community consensus has been one of the strongest points of monero.
Of course, blockchain is open source and there is no patent or anything to it so people are free to do what they like.
Just look at electroneum, all they did was hardfork the monero blockchain and called it their own.
In the end, the community will decide what to support.
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Less Participants - You can earn a higher percentage of the bounty pool meaning more coins
More Participants - More hype and awareness for the project created
Less Participants - Not much community support with a high chance bounty rewards or rules will change.
More Participants - Vastly decreased rewards
So there are good and bad points for each really.
Personally, I haven't seen the amount of participants affect the overall value of my rewards that much.
What affects the value more is how reliable and trustworthy the ico and bounty campaign manager is.
There needs to be a dedicated bounty manager who openly communicates with the community.
Another big factor is the success of the company itself.
I never sell my bounties for a quick profit; instead, I hold on to them for potential huge gains in the future.
It's a lot different from putting in your own money.
I didn't spend a cent (although I put in time) so I don't feel any real pressure to sell at a certain profit margin.
On a side note, I suggest looking for bounties for icos that have a very low circulating token supply.
It can bring a higher proportional value to your work.
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