Turn $10,000 into 1 Million

[HR]

OP what are your current thoughts about LTC? Will it reach the 100$ mark again in the next weeks, months?

I think the chances are very good.

[1715256652]

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[Gymshark]

What's the reasoning behind the supposed "altcoin bubble" and it further bursting? Seems to me that the direction we're headed with cryptos is only up

[HR]

Let's talk Bitshares for a moment (while they're still charting favorably). I like the project (DEX, etc.) and feel perfectly confident that the price will see better days. Not too worried there.

Here's my question: Does it potentially overexpose a portfolio to China? I was going through a recent State of the Network post, and I noticed that a substantial amount of trading comes from China (BTS/CNY is 51% of transactions, BTC at 48%). BitCNY is also 69% of all the smartcoins held on the exchange (BitUSD is second at 25%).

Presumably this includes external exchanges as well (i.e. the BTC portion), since they'd all need to interface with the BTS network to execute the trade, no?

Now, Bitcoin will be fine without China, ultimately, if it even comes to that (figuring any major stakeholders will find a way around). On the flip side, BTS is (apparently?) much more dependent on them. This makes me a little nervous that some sort of mass-FOMO out would do some serious damage to either the price or the project. I could still see BTS pumping arbitrarily, but in terms of long-term prospects, would love to see more diverse adoption.

That's one of my chief concerns too, but it works both ways: not having domestic exchanges could be more motivation to hold BTS and trade within the DEX.

And I also fully agree that more diverse, and wider adoption, should be (and I think it is in practice) Bitshares' number one priority.

[HR]

https://i.imgur.com/meRFN2a.jpg


Current Weightings:

LTC 23.83%
STEEM 23.21%
SYS 22.87%
BTS 21.52%
NLG 05.85%
PIVX 02.68%
BTC 00.04%

[HR]

Sold PIVX


https://i.imgur.com/2erGkfP.jpg


and bought DGB


https://i.imgur.com/AJmrzVM.jpg

[HR]

Sold the entire lot of LTC


https://i.imgur.com/gNfmzER.jpg


And bought ADA for an average price of .00000359
https://bittrex.com/Market/Index?MarketName=BTC-ADA

 


It was a tough call. I wanted a piece of ADA really bad. Whoever I bought from got a minimum of 6x on their ICO price, but you've got to pay up when you're buying post-ICO and it's quality that's not going away. Anyhow, a tough call, as I said, from the point of view of "what do I sell in order to buy ADA?" LTC, the former "bank" got the axe. Its chart just gets worse and worse, and there's nobody on the buy side. On the fundamental side of things, I don't like what I've been seeing these last few weeks from its founder either. Long story short, LTC, member of the old guard, just can't keep up with the pace of change, IMHO.

We'll see how it works out.

Edit: and a clean double in USD terms (without taking into account any other trades or anything else) on LTC ain't bad either. I'll take it.

[xandriel]

this thread is more realistic than another topic say want make 1 million dollar from 10$. anyone want trade IOTA and Zcash for this week

[Kopen]

Whoa, let's talk about this changeup then, particularly for those of us with a higher basis for their LTC where the current profit is less crazy.

Chart looks low (like, 70% retracement low). Volume also near the bottom seen for the past 6 months. RSI in the 30s. This strikes me as a potential risk of selling low? Past-performance caveats aside, doesn't seem like it has a ton further to go down.

Now, I kinda get doubting in the whole 4:1 w/ BTC idea. Less of a TA issue and more of a...idk if public sentiment could ever get it there. But since you did mention fundamentals, what's got you concerned coming from Charlie? Broadly, I've liked that he's been vocal (since it helps the whole public sentiment thing). I also made out very nicely from that atomic-swap test he did between LTC/VTC (thank you for the profit-taking insights!).

This is also the first I've heard of ADA, and I'm leery of buying an ICO the day it comes on the market. What's got you interested?

[btcpt]

seems like u have a lot of knowedgle so it's not impossible if u work really hard

[Savik]

Sold the entire lot of LTC


https://i.imgur.com/gNfmzER.jpg


And bought ADA for an average price of .00000359
https://bittrex.com/Market/Index?MarketName=BTC-ADA

 


It was a tough call. I wanted a piece of ADA really bad. Whoever I bought from got a minimum of 6x on their ICO price, but you've got to pay up when you're buying post-ICO and it's quality that's not going away. Anyhow, a tough call, as I said, from the point of view of "what do I sell in order to buy ADA?" LTC, the former "bank" got the axe. Its chart just gets worse and worse, and there's nobody on the buy side. On the fundamental side of things, I don't like what I've been seeing these last few weeks from its founder either. Long story short, LTC, member of the old guard, just can't keep up with the pace of change, IMHO.

We'll see how it works out.

Edit: and a clean double in USD terms (without taking into account any other trades or anything else) on LTC ain't bad either. I'll take it.

Knock me over with a feather! Damn thats a surprising move compared to the past trades, but you have a point about LTC chart looking pretty weak. Any info about ADA that made you jump on it? Im in as well, but not nearly as big a chunk, and not as good of an entry 

[Vispilio]

what are the advantages of SYS, which always makes your top 3 holdings list, in your opinion ?

[3x2]

Its good to see this thread. @HR what is the current status in terms of USD?

[btcapollo]

Whoa, let's talk about this changeup then, particularly for those of us with a higher basis for their LTC where the current profit is less crazy.

Chart looks low (like, 70% retracement low). Volume also near the bottom seen for the past 6 months. RSI in the 30s. This strikes me as a potential risk of selling low? Past-performance caveats aside, doesn't seem like it has a ton further to go down.

Now, I kinda get doubting in the whole 4:1 w/ BTC idea. Less of a TA issue and more of a...idk if public sentiment could ever get it there. But since you did mention fundamentals, what's got you concerned coming from Charlie? Broadly, I've liked that he's been vocal (since it helps the whole public sentiment thing). I also made out very nicely from that atomic-swap test he did between LTC/VTC (thank you for the profit-taking insights!).

This is also the first I've heard of ADA, and I'm leery of buying an ICO the day it comes on the market. What's got you interested?

@HR Does this make ADA your largest position? What are your thoughts on technology? It seems you really like it to make one of your largest positions. But then again that's probably why you'll reach $1 million.

edit:

It seems there is an active thread here on Bitcointalk:

https://bitcointalk.org/index.php?topic=2216427.msg22451983#msg22451983

[Vispilio]

yeah so what is the weight of ADA in your portfolio now ?

[vit05]

I am also curious about your thoughts on ADA. And what will be your "bank" currency now? It appears that what you are holding now doesn't have so much liquidity.

[Burks]

seems like u have a lot of knowedgle so it's not impossible if u work really hard

As you said if someone having lot of knowledge then its possible to reach his goals.But he really need to work and smart too.
By using bitcoin maybe you can reach your goal sooner than other investment.Invest properly on the bitcoin such as mining and trading the bitcoins.Joining in the campaign also gives you an income.So you have to work hard and play smart then youmake it sooner.Best of luck bro.

[torry28]

Its good to see this thread. @HR what is the current status in terms of USD?

See post 530. HR has updated his current stats based on USD.

Didn't know if HR would be interested with ADA coin, what made this coin so special for you HR?
Currently ADA at 500 sat, congrats for profited 30% less in a day!

[joepino2k1]

Turning $10k-$1m is possible but you have to understand what your are doing in terms of trading. This will take some time maybe a year to achieve this but the truth is, it is very possible as i have seen it happen before. You must a have a strategy and a plan that you will follow to the end.

[HR]

Whoa, let's talk about this changeup then, particularly for those of us with a higher basis for their LTC where the current profit is less crazy.

Chart looks low (like, 70% retracement low). Volume also near the bottom seen for the past 6 months. RSI in the 30s. This strikes me as a potential risk of selling low? Past-performance caveats aside, doesn't seem like it has a ton further to go down.

Now, I kinda get doubting in the whole 4:1 w/ BTC idea. Less of a TA issue and more of a...idk if public sentiment could ever get it there. But since you did mention fundamentals, what's got you concerned coming from Charlie? Broadly, I've liked that he's been vocal (since it helps the whole public sentiment thing). I also made out very nicely from that atomic-swap test he did between LTC/VTC (thank you for the profit-taking insights!).

This is also the first I've heard of ADA, and I'm leery of buying an ICO the day it comes on the market. What's got you interested?

Knock me over with a feather! Damn thats a surprising move compared to the past trades, but you have a point about LTC chart looking pretty weak. Any info about ADA that made you jump on it? Im in as well, but not nearly as big a chunk, and not as good of an entry  

Yeah, it looks like selling low in BTC terms, but in USD terms, my average sale price on this lot was $53.95, more than a double for me. I know it may come as a surprise, and that I recently said that I think it will go to $100, but I also said that on the 24th when it looked like it was turning higher, and then we got another rally failure. I should get to $100, someday, who knows when, and there could be a lot of pain in between. And I could also be flat out wrong, and it never gets there. In any event, I was beginning to feel very uncomfortable with it, especially with such a heavy weighting. In spite of the atomic-swap achievements and the like, the idea of LTC trading back to $3.00 began to haunt me. That’s a joke, but the low 20’s isn’t a joke – remember just a few short weeks ago Chinese LTC holders saw the low 20’s on forced liquidations. Yes, Charlie’s been very vocal, but I’m really bothered by his continual obsession with Bitcoin. I haven’t done any hard analysis on the subject, but it seems to me like over half of his tweets are Bitcoin related, and usually critical with those he disagrees with. I’d be much less worried if he were focusing more on positives and on Litecoin itself. In short, I’m beginning to question if Litecoin will play the role I thought it would in the advancement and survival of first generation coins (as you know, I think the vast majority of first generation coins will disappear).

Watch the chart closely. There’s a gap on the daily chart that appeared today. It’s between .01255554 and .01244728. That could be a breakaway gap, a measurement gap, or an exhaustion gap. Best case scenario is an exhaustion gap as it should be followed by a reversal. It’s unlikely to be a breakaway considering where it is within the larger price range. Most likely it’s a measurement gap – measurement in that it comes halfway between the extremes of the move, high and eventual low in this case. Based on what I see, I think the probabilities are good that the recent spike low at .01134300 is going to be retested. Then there’s the ~.01000000 level which would become the neckline for a massive multi-month head and shoulder pattern that I wouldn’t want to be waiting to see how it works out. And the illiquidity on the buy side is, frankly very concerning: a fundamental aspect of a “saver’s coin” is that it has market makers providing a least a semblance of liquidity, but when you have problems selling a measly 4 BTC worth of Litecoin, it makes you seriously question that premise. I can’t give any kind of advice that would be appropriate for anyone’s particular situation, but I can say that I’d be very careful with LTC going forward. Ask yourself: would you buy LTC right now?

Cardano ADA is a IOHK project. It looks like the future of crypto to me, and, having said that, a once in a lifetime opportunity too. I’ll talk more about this in my reply below.

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@HR Does this make ADA your largest position? What are your thoughts on technology? It seems you really like it to make one of your largest positions. But then again that's probably why you'll reach $1 million.

edit:

It seems there is an active thread here on Bitcointalk:

https://bitcointalk.org/index.php?topic=2216427.msg22451983#msg22451983

yeah so what is the weight of ADA in your portfolio now ?

I am also curious about your thoughts on ADA. And what will be your "bank" currency now? It appears that what you are holding now doesn't have so much liquidity.

“Cardano uses a revolutionary new proof of stake algorithm called Ouroboros, which determines how individual nodes reach consensus about the network.

“Ouroboros is the first proof of stake protocol that scientifically has been shown to be provably secure.” https://www.cardanohub.org/en/ouroboros/

"designed by an extremely talented team of cryptographers from five academic institutions led by Professor Aggelos Kiayias of the University of Edinburgh."
https://whycardano.com/#designing-in-layers-cardano-settlement-layer

We’re talking about some of the best in the world and they’re not operating behind closed doors.

“Cardano has been a marathon project involving feedback from hundreds of the brightest minds inside and outside of the cryptocurrency industry. It involves tireless iteration, the active use of peer review, and shameless theft of great ideas when uncovered.”  https://whycardano.com/

More key links about some of the people involved:

https://iohk.io/about/
https://iohk.io/research/#researchers
https://iohk.io/projects/cardano/#team

Research:

https://iohk.io/research/papers/
https://iohk.io/research/library/


And that’s all really just the “tip of the iceberg”. Once you start looking around, you’ll see that there’s much much more.


Yes, it is my largest position now – when I entered, it was equal to the other big three, but with price appreciation, it’s clearly the biggest with STEEM coming in second. Since my strategy is to not take profits on long term investments until they exceed 50% of portfolio value and/or experience a 5x increase, it could possibly continue growing, becoming the de facto “bank”, if we can call it that. With a much larger float, and much larger participation (at least until now), from a liquidity standpoint, it certainly fits basic banking requirements better than others.

Thanks btcapollo for pointing out the thread here on BCT. I took a quick look and saw what looks like a lot of useful material (probably all the links I’ve posted here are already there) and will give it a thorough go over when I have the chance (probably this evening).  


BTW, I also posted a little titbit on Steemit too: https://steemit.com/trading/@cryptographic/cardano-ada-trade-on-bittrex

[MissionPhailed]

I can imagine its a relief now that LTC is out of your portfolio. Looked at LTC for a possible future investment but was kinda unsure about it too (it already ballooned from barely $4 in the last 6 months). Do you consider DGB to be a long-term investment? Personally I plan to get rid of them as soon as they result in a measurable profit.

Latest graph of yours still show a solid trend (with 'usual' ups and downs) towards the threshold of 100K!