Crypto lounge thread

Dvorak

Sparrow
True Balla said:
I think the older people do take his words with more influence. A lot of the 35-40+ crowd still see crypto as very risky, speculative, and scammy. A guy like Buffet making the same remarks gives them reassurance to stay out. If Buffetts tune changed to 'invest in cryptocurrency' a lot of those guys would revaluate their opinions and look into the idea as well.
I'm 35 and I think it's risky NOT being in crypto. Of course, there a lot of guys who can't stand the volatility but overall the price of Bitcoin has gotten the attention of investors in the 35+ crowd. With nothing but terrible investment vehicles, many are looking for something that will give them riches
A couple of years ago I was looking at crypto. One of the things that convinced me not to do it, was Buffet being negative about it. Has cost me a lot of (potential) money... Everyone makes mistakes and has blind spots.

Currently its mainly a younger crowd (20-40) throwing some play money at it.
The true money is with the 50+ crowd and with institutions (pension funds etc). Once banks start giving them an easy option to put some money in crypto, expect a big rise, will probably be into the big top-10 coins (BTC, ETH...). This will probably also provide more price stability.
Long-term, things are looking better than ever, though a big crash could still come any day still...

Luckily Novo keeps shilling:
https://www.ccn.com/almost-irresponsible-to-not-invest-in-bitcoin-billionaire-mike-novogratz/
 

JekyllAndHyde

Woodpecker
True Balla said:
I think the older people do take his words with more influence. A lot of the 35-40+ crowd still see crypto as very risky, speculative, and scammy. A guy like Buffet making the same remarks gives them reassurance to stay out. If Buffetts tune changed to 'invest in cryptocurrency' a lot of those guys would revaluate their opinions and look into the idea as well.
I'm 35 and I think it's risky NOT being in crypto. Of course, there a lot of guys who can't stand the volatility but overall the price of Bitcoin has gotten the attention of investors in the 35+ crowd. With nothing but terrible investment vehicles, many are looking for something that will give them riches
Especially when a CFO of one of our largest banks quit to run a blockchain and crypto business based in the Cayman Islands and employs 200 people globally.

http://www.afr.com/brand/chanticlee...t-is-more-pain-for-matt-comyn-20180514-h100xd

https://stockhead.com.au/news/cbas-...ust-quit-to-run-a-12-billion-crypto-business/
 
Dvorak said:
True Balla said:
I think the older people do take his words with more influence. A lot of the 35-40+ crowd still see crypto as very risky, speculative, and scammy. A guy like Buffet making the same remarks gives them reassurance to stay out. If Buffetts tune changed to 'invest in cryptocurrency' a lot of those guys would revaluate their opinions and look into the idea as well.
I'm 35 and I think it's risky NOT being in crypto. Of course, there a lot of guys who can't stand the volatility but overall the price of Bitcoin has gotten the attention of investors in the 35+ crowd. With nothing but terrible investment vehicles, many are looking for something that will give them riches
A couple of years ago I was looking at crypto. One of the things that convinced me not to do it, was Buffet being negative about it. Has cost me a lot of (potential) money... Everyone makes mistakes and has blind spots.

Currently its mainly a younger crowd (20-40) throwing some play money at it.
The true money is with the 50+ crowd and with institutions (pension funds etc). Once banks start giving them an easy option to put some money in crypto, expect a big rise, will probably be into the big top-10 coins (BTC, ETH...). This will probably also provide more price stability.
Long-term, things are looking better than ever, though a big crash could still come any day still...

Luckily Novo keeps shilling:
https://www.ccn.com/almost-irresponsible-to-not-invest-in-bitcoin-billionaire-mike-novogratz/
A lot of pension fund management places offer crypto investing. The only issue is the exorbitant managing fees that are over $110/month. Some places want a minimum investment of at least 50k. Right now it's framed as a speculative investment with no insurance backing, not something older folks want to invest in their twilight years. I'm sure once all the financial institutions get a good foothold into crypto and stabilize the fluctuations in price they will encourage mom and pops to come in for the meagrely 8% annual return.

To be honest, I don't want the boomers to get in on this. They already got rich off real estate, stocks, dot-coms. Let the millennials and gen Z have crypto as their get rich scam.
 

AceP

Woodpecker
Dvorak said:
True Balla said:
I think the older people do take his words with more influence. A lot of the 35-40+ crowd still see crypto as very risky, speculative, and scammy. A guy like Buffet making the same remarks gives them reassurance to stay out. If Buffetts tune changed to 'invest in cryptocurrency' a lot of those guys would revaluate their opinions and look into the idea as well.
I'm 35 and I think it's risky NOT being in crypto. Of course, there a lot of guys who can't stand the volatility but overall the price of Bitcoin has gotten the attention of investors in the 35+ crowd. With nothing but terrible investment vehicles, many are looking for something that will give them riches
A couple of years ago I was looking at crypto. One of the things that convinced me not to do it, was Buffet being negative about it. Has cost me a lot of (potential) money... Everyone makes mistakes and has blind spots.

Currently its mainly a younger crowd (20-40) throwing some play money at it.
The true money is with the 50+ crowd and with institutions (pension funds etc). Once banks start giving them an easy option to put some money in crypto, expect a big rise, will probably be into the big top-10 coins (BTC, ETH...). This will probably also provide more price stability.
Long-term, things are looking better than ever, though a big crash could still come any day still...

Luckily Novo keeps shilling:
https://www.ccn.com/almost-irresponsible-to-not-invest-in-bitcoin-billionaire-mike-novogratz/
A lot of pension fund management places offer crypto investing. The only issue is the exorbitant managing fees that are over $110/month. Some places want a minimum investment of at least 50k. Right now it's framed as a speculative investment with no insurance backing, not something older folks want to invest in their twilight years. I'm sure once all the financial institutions get a good foothold into crypto and stabilize the fluctuations in price they will encourage mom and pops to come in for the meagrely 8% annual return.

To be honest, I don't want the boomers to get in on this. They already got rich off real estate, stocks, dot-coms. Let the millennials and gen Z have crypto as their get rich scam.
Boomers might be the ones who'll push the prices up tho. Or their kids will pick up their parent's slack for this generation's investment opportunities.
 
AceP said:
Boomers might be the ones who'll push the prices up tho. Or their kids will pick up their parent's slack for this generation's investment opportunities.
The way I see it, there is a fixed supply of Bitcoin and an unlimited supply of fiat from 50+ countries. As the fiat money supply increases, it will flow into crypto and push the price higher regardless of which group is investing, it's the people that get in last that have not much to gain (in this case, this will be risk-averse women).
 

AceP

Woodpecker
AceP said:
Boomers might be the ones who'll push the prices up tho. Or their kids will pick up their parent's slack for this generation's investment opportunities.
The way I see it, there is a fixed supply of Bitcoin and an unlimited supply of fiat from 50+ countries. As the fiat money supply increases, it will flow into crypto and push the price higher regardless of which group is investing, it's the people that get in last that have not much to gain (in this case, this will be risk-averse women).
Fair argument. So the time comes where Gold and the almighty Dollar merges digitally.
 

redonion

Woodpecker
For the US guys out there - how averse are you to signing up on crypto exchanges that don’t allow people from the US?

One of my favorite exchanges, gate.io, recently announced that people from the US need to withdraw their funds and stop using the exchange. They asked if I was a US resident and I told them “no” even though I am. I’m also unverified on this exchange.

I’ve heard that some exchanges will behave this way in order to be compliant with US law, but they don’t actually enforce anything. However I’d like to figure out if the risk I’m taking by continuing to use this exchange is worth it.
 
redonion said:
For the US guys out there - how averse are you to signing up on crypto exchanges that don’t allow people from the US?

One of my favorite exchanges, gate.io, recently announced that people from the US need to withdraw their funds and stop using the exchange. They asked if I was a US resident and I told them “no” even though I am. I’m also unverified on this exchange.

I’ve heard that some exchanges will behave this way in order to be compliant with US law, but they don’t actually enforce anything. However I’d like to figure out if the risk I’m taking by continuing to use this exchange is worth it.
Exchanges don't want to comply with US laws and the SEC. If they serve US citizens they will have to be compliant, this is why they are trying to get rid of US customers. I don't think you can get into trouble, they are just trying to cover their ass legally.
 

gework

Pelican
Gold Member
Back long. This is still playing out uncannily like the Gox crash.

We've just had a 1W Bollinger squeeze after a 62% drop over about six months; and now pumping.

For the Gox crash there was a Bollinger squeeze on 1W that led to a pump. That pump started after a 62% drop over about 6 months.

If it continues to pan out the same it will look like this (blue line is price):



That would put in a bottom at around $3-4K around Jan-Feb 2019.
 
Sidney Crosby said:
What do you guys think of DGB? I've done some reading on the reddit sub but it's hard to find unbiased opinions.
Stay away. In the past, it has done 100x but it won't moon again. I like taking risks for big rewards but there are better opportunities than DGB.

What are the crypto forums that you'd recommend these days?
I can't name a single one. They are all horrible and most will censor you if say something they don't like. I recommend looking at many forums and deciding yourself. I tend to go back and forth between cryptocurrencies subreddit and /biz on 4chan. Most of my information I get is from YouTube. There's a landfill of garbage information you have to go through to find anything useful.
 
What would you suggest?

YouTube mostly seems like guys trying to shill what they are into, but I guess there are a couple quality guys.
 

Biz

Kingfisher
Sidney Crosby said:
What would you suggest?

YouTube mostly seems like guys trying to shill what they are into, but I guess there are a couple quality guys.
You have to weed through a TON of nonsense, shilling and self-promoting in crypto.

Not sure how experienced you are but when I first got into it last summer I read every blog, followed every guy on twitter, watched as many youtube channels as I could...

95% BS

You have to get to the point where you finally realize this and start doing all of your own research, this takes time obviously.

If you can get into a few SMALL groups of like-minded people that's helpful.

I un-followed almost every 'crypto-personality' on twitter. There's a very small amount worth following that are there to help and don't just shill their own bags 24-7

It's an endless learning curve, even the most experienced in this game are brand new -- 2 years is an OG lol
 

Biz

Kingfisher
Sidney Crosby said:
What would you suggest?

YouTube mostly seems like guys trying to shill what they are into, but I guess there are a couple quality guys.
Also, check out the other thread about youtuber's -- I only watch Carter Thomas for my daily info, it's all you really for an overview of current events.
 
Biz said:
Sidney Crosby said:
What would you suggest?

YouTube mostly seems like guys trying to shill what they are into, but I guess there are a couple quality guys.
You have to weed through a TON of nonsense, shilling and self-promoting in crypto.

Not sure how experienced you are but when I first got into it last summer I read every blog, followed every guy on twitter, watched as many youtube channels as I could...

95% BS

You have to get to the point where you finally realize this and start doing all of your own research, this takes time obviously.

If you can get into a few SMALL groups of like-minded people that's helpful.

I un-followed almost every 'crypto-personality' on twitter. There's a very small amount worth following that are there to help and don't just shill their own bags 24-7

It's an endless learning curve, even the most experienced in this game are brand new -- 2 years is an OG lol
I'm inexperienced but I prefer what most people write on here vs reddit or youtube. There is a good mix of people on here.
 
Sidney Crosby said:
What would you suggest?

YouTube mostly seems like guys trying to shill what they are into, but I guess there are a couple quality guys.
I'd probably recommend just skimming r/cryptocurrency every couple of days. I like Omar Bahn on youtube but the videos are typically 20minutes long. I feel like Richard Heart has the best red pills when it comes to crypto but he posts infrequently.

My opinion in that investing early is better than being smart in this space. All the people that made it big were people that invested or found out about crypto early because their computer science friend or roommate mentioned it to them. I think normie to millionaire thing isn't going to happen anymore but there is room to 30-40x your money over the next 3-4 years, still much better than anything traditional financial instruments are offering unless you have insider knowledge or want to gamble.
 

Graft

Kingfisher
Gold Member
Sidney Crosby said:
What would you suggest?

YouTube mostly seems like guys trying to shill what they are into, but I guess there are a couple quality guys.
I'd probably recommend just skimming r/cryptocurrency every couple of days. I like Omar Bahn on youtube but the videos are typically 20minutes long. I feel like Richard Heart has the best red pills when it comes to crypto but he posts infrequently.

My opinion in that investing early is better than being smart in this space. All the people that made it big were people that invested or found out about crypto early because their computer science friend or roommate mentioned it to them. I think normie to millionaire thing isn't going to happen anymore but there is room to 30-40x your money over the next 3-4 years, still much better than anything traditional financial instruments are offering unless you have insider knowledge or want to gamble.
30x-40x your money? How is that not "normie to millionaire??"

I'm sitting here praying for a 10x long term.
 

redbeard

Hummingbird
Moderator
Sidney Crosby said:
What would you suggest?

YouTube mostly seems like guys trying to shill what they are into, but I guess there are a couple quality guys.
I'd probably recommend just skimming r/cryptocurrency every couple of days. I like Omar Bahn on youtube but the videos are typically 20minutes long. I feel like Richard Heart has the best red pills when it comes to crypto but he posts infrequently.

My opinion in that investing early is better than being smart in this space. All the people that made it big were people that invested or found out about crypto early because their computer science friend or roommate mentioned it to them. I think normie to millionaire thing isn't going to happen anymore but there is room to 30-40x your money over the next 3-4 years, still much better than anything traditional financial instruments are offering unless you have insider knowledge or want to gamble.
Today's reddit is yesterday's Twitter.

YT is pretty bad past a certain stage, except for learning charting skillz.
 
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