Pestilence
Robin
I think now it's all about predicting the coins to buy before the next cycle.
Crypto lounge thread
- Thread starter Ocelot
- Start date
I think now it's all about predicting the coins to buy before the next cycle.
joost
Kingfisher
Ethereum is the mother ship of all shitcoins.
My son took your advice last night and made a good profit on Luna today. Bought at the 99% down, took a ride up, then sold hours later before another dip. He's liked Luna for a while, had reservations, but this opportunity was prime. It was a bright spot in a 2-day beating.
total speculation follows - Crypto market cap is so (comparatively) small and immature that a lot of black swan/white swan events happen. Things get oversold/bought really fast. If you know the hand to play (good math analysis + code skills + developed gut instinct), you can get big upsides. Miss a call and the dips are painful.
I'm older and can't get as intellectually committed as crypto requires for big gains. My son has found some arbitrage opportunities recently in working the night shift, opening trades in the US evening and closing them in the early AM. Bug-man stuff, but there are such unimaginable returns in this field sometimes. I encourage him to take big risk at his young 20's age, as the upside is huge and the downside is manageable (just don't buy on margin). Crazy stuff. Good luck to young crypto brothers.
joost
Kingfisher
It's called luck. So your son liked Luna and decided to trade only when it was down 99.999%? What math analysis he did to not buy at -50% or even at -90%?
I don't see a problem with gamble. Just don't lie to yourself thinking it's skill.
Have you never had prospect investments that just weren't quite good enough (as you are comparing them to dozens of other prospects at the same time), then a big dip came in faster than anyone thought?
There is an element of luck in any trade, but his ROI dwarfs anything I've ever had in normie investment land, even after this week.
Does your son follow a crypto signals group? One of my friends recently suggested that I join Crypto Lifer on discord. He said that he subscribes to him and makes money. I'm thinking about giving it a try.
joost
Kingfisher
I understand what you're going for. A company actually makes money, has assets and good ones pays dividends.
Let's use Netflix as an example. It crashed and you ended losing money if you bought recently but you know the company will not go to zero. Also the company rose too fast (was it sustainable?).
Crypto is a Ponzi. They're always looking for a greater fool to buy their bags.
Let's say your son 500x his money in a year. Do you think it's sustainable?
Look at the attached picture and hopefully you'll understand what I'm talking about. The demon obviously has the edge but many can't see it.
I also bought Bitcoin for the first time for less than $5. I have an account in LocalBitcoins from beginning of 2012 to prove it. How many times I multiplied my "investment"? I could brag how much of a genius i am but it was just a case of survival bias. Many invested in something different (and many lost money).
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joost
Kingfisher
Look at previous newsletters (or whatever distribution) during the peak. I'll bet they're telling people to buy and not to dump.
Remember you need a 400% gain to compensate an 80% loss.
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What are your thoughts on ETH? Do you think it will die from high transaction fees? Do you see any future at all for erc-20 tokens? It looks like Binance and Pancake Swap have really taken the wind out of the ETH gambling casino.
The stock market is riddled with many problems you haven't mentioned that crypto doesn't have. Stocks can be inflated. Governments can intervene and break a company. A CEO can break a company. Earnings can be faked. Company can be sued. Shareholders and dividends can stagnate a company. Too many attack vectors to list here. It takes decades, not months or years to see serious stock returns unless you use leverage.
Cryptos are not companies so I'm not sure why I keep seeing them compared. They would be more like a collectable like art that rich people value and want to have to preserve their wealth. Or maybe you can compare them to money. Comparing them with businesses seem like a bad approximation.
If crypto is a ponzi it's the longest running non-government ponzi I guess.
Regarding buying BTC at $5:
"It's not whether you're right or wrong, but how much money you make when you're right and how much you lose when you're wrong."
- George Soros
You call ETH a scam but the people that bought into it made more money than BTC people. BTC returns are clearly diminishing with time and while a 3.5x from previous ATH is good it isn't enough for zoomers or millenials to keep up with the boomer stardard of living. Even if you invested at 5k you only made 13x which sounds incredible but zoomers and millenials need a 100x become wealthy, that's how dystopian current year is. I know the monetary system of bitcoin is good, I'm simply explaining why people keep diving head first into altcoins despite the risks.
joost
Kingfisher
What I'm trying to say here is that nobody knows what will happen in the future. We can make educated guesses but it's a bet.
The difference is if you're going to sell your house to buy crypto and retire in a year or if you might lose everything.
Gamble a percentage you can afford to lose. You might get lucky.
joost
Kingfisher
@Burner
People who bought Luna yesterday (or was it the day before?) Made 4000% in a day. It surpasses ETH. Does it make it better?
I understand the disbelief in the stock market but you can't compare gains from a much younger type of "investment".
They're is always a risk/return to take into account. Look at the Doge Millionaire; he had $3 million in Doge. Everybody was telling the guy to sell, even if it was half to be set in life and continue to gamble the rest. He thought her could make even more and now he might be lucky to break even.
He gained a large audience because he won the lottery. He opens a YouTube channel and shills a bunch of shitcoins (including Luna).
One lady interviewing George Soros asks about something to invest. He replies saying that that's many people more qualified than him that will give a better reply. He was implying that he got lucky in one bet and became billionaire, and should not be taken more seriously because of that.
People who bought Luna yesterday (or was it the day before?) Made 4000% in a day. It surpasses ETH. Does it make it better?
I understand the disbelief in the stock market but you can't compare gains from a much younger type of "investment".
They're is always a risk/return to take into account. Look at the Doge Millionaire; he had $3 million in Doge. Everybody was telling the guy to sell, even if it was half to be set in life and continue to gamble the rest. He thought her could make even more and now he might be lucky to break even.
He gained a large audience because he won the lottery. He opens a YouTube channel and shills a bunch of shitcoins (including Luna).
One lady interviewing George Soros asks about something to invest. He replies saying that that's many people more qualified than him that will give a better reply. He was implying that he got lucky in one bet and became billionaire, and should not be taken more seriously because of that.
I'll ask him, but I don't think so. He has a group of mid-20's college friends, all math-heavy students, that he talks with regularly. They've even met twice this year to share and discuss ideas. This is an all male, all STEM-type, invitation only group.
Just to be clear, we don’t endorse gambling on RVF.
I used the dip to buy more Monero (XRM) and Orchid (OXT). Orchid is a decentralized VPN service. I've made money on OXT in the past, they have a working product, and Edward Snowden has given them his endorsement. Since I bought in again when OXT was at an all-time low, I hope I can at least repeat my previous success. My only issues with OXT are that they don't offer their services to Windows and their token is an erc20 token (I don't care for ETH).
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Because he actually has nothing to lose and 300 rolls is a LOT for several 50% losses to happen in a row (to Spitz).
What cartoon or story is that from?
Topher
Pigeon
Are you getting OXT on KuCoin or is there another option?