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Thread: Investing in crypto currencies

  1. #64
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    Anyone here own Litecoin?


    Because speed limits, like fears, are often just illusions.

  2. #65
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    Supposedly UK is taking action on these

    http://www.businessinsider.com/anti-...entity-2017-12
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  3. #66
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    Quote Originally Posted by Izerous View Post
    Supposedly UK is taking action on these

    http://www.businessinsider.com/anti-...entity-2017-12
    And how exactly do you suppose they are going to do that?

    I'm sure central banks have wanted to do something similar for years but the entire point of crypto currencies is that they are private and decentralized.
    But the big difference between a right winger writing for a right wing media source, and left winger writing for a left wing source. Is that everything he wrote here is true and factual, not just somebodies opinion piece that is spinning vague facts to try and support their poorly thought out opinion.
    -Viktimize

  4. #67
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    Quote Originally Posted by 780rx View Post
    And how exactly do you suppose they are going to do that?

    I'm sure central banks have wanted to do something similar for years but the entire point of crypto currencies is that they are private and decentralized.
    How I have no idea that is kind of their problem.
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  5. #68
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    Quote Originally Posted by zhao View Post
    my point was its probably better to chase the things you are more sure of reacting in a favorable way (so very good returns, but not crazy returns. if I could guarantee 20% a year i'd be laughing) and have a goal of retiring in 20 years or so, then to chase the 'retire in 2-3 years with passive income amway dream'.

    Daytrading to me is too risky to live off. Eventually you will mistime or misjudge something and be stuck, making no money for months, or exiting with a loss and trying to rebuild that..... possibly with another loss, and another. IMO a safer way would be to amass equity, liquidate it, and invest that in more sure somewhat stable investments. i'd be looking at a diversified portfolio of dividend stocks with room to grow and mutual funds for a significant portion of my portfolio. I'd probably keep a 6 figure chunk to throw at risky shit. IMO a 10% return on a million is something u could retire off of, with enough left over to reinvest to keep pace with inflation (but you wouldn't be baller doing that in a first world country). The thing is, would anyone do that that 'slowly' built up that amount with hard work? You're far more baller than I am, and I wouldn't do it. I'm guessing you'd want more too. My wife and I combined are getting close to that in equity at mid 30s, and i'm thinking why stop anywhere close to where we are at now... lets see how far I can take it with 15-20 more years of working. You make decent money, you probably work hard to do it, and i think just turning that switch off and switching to being a lazy ass is a hard thing to do, especially when you start depleting what you worked hard for. if you were ok being lazy doing nothing, you'd probably be ok doing it on welfare.

    So right now i'd say i'd want a million in equity in real estate and a million in liquid investments like stocks/funds/etc. $5 says if i have that in 10 years i'd be saying that's not enough to stop working and i'd want more. But maybe i'm an anomaly. i find investing addicting and enjoyable. I read some article about how the couch potato portfolio was great because no one enjoys reading financial reports and analyzing the hell out of stocks. i was like wtf? i enjoy that...

    I do agree 500 a business day is doable day trading if you have the money. 200-400k in a trading account and you can probably do it for a long time provided you make no huge errors, but it will turn in to a full time job IMO, and eventually you will fuck up from being greedy and have too much of your money stuck in something at a loss. Trading 40k is a lot different then trading 400k imo. I have said before, but my Ex-gf daytraded the fuck out of currencies, and she was able to make a living off that if she wanted to, but it was at the very least a part time job, and she had to keep 1 step ahead of 98% of the people, and 1% of people were 1 step ahead of her so she always had to stay on her toes to make sure someone didn't change the game without her noticing.
    To each their own. If you have no confidence in yourself, then you're right, you'll surely never do anything more than average. Is it risky to try and day trade? Sure. It's also pretty risky to rely on your job as being your only source of income till the ol 65 year old age of retirement(and then die in 5 years anyway), since most jobs will be gone in the next 20 years.

    When it comes to day trading, I'm a lot less concerned with stocks(although there is plenty of easy ones to scalp out there if you learn to read charts), and more interested in commodity ETF's.

    Even if day trading was a full time job(which it isn't), I'd be a lot more inclined to spend 8 hours of my day watching the computer to make trades from the beach in Mexico at home with my awesome wife, as opposed to 8 hours a day at some job I hate in the frigid cold of winter away from the people I care about.

  6. #69
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    Shit I haven't been here in a while, happy to finally see a post I can relate too.

    Lots of weird misinformation and opinions here from what I read. Too many long winded posts to go through it all, but figured I'd drop my 2 cents here.

    I speak from both sides as I have two 9x 1080Ti rigs mining anything running the Equihash/Lyra2v2 algo, and I swing/long term trade as well.

    1) Mining makes sense if you pick the right equipment, know how to extract peak performance out of it and can keep it running 24/7 (more or less). But that's if you're into Proof-of-Work mining, there's Proof-of-Stake but you'll need to pony up some bucks and hold a ton of your chosen coin to earn anything.

    Both of my rigs have paid for themselves in ~4.5 months, payback would have been ~10 months (on conservative future pricing) but that's because I've been liquidating my coins at all-time-highs and rebuying back in at average lows using the spread to cover initial costs. This also includes power and all overhead... I've also been liquidating my coins for BTC at the right time to enter into the alt coin markets without using fiat currency, which has been a big bonus.

    2) Trading is extremely lucrative but you need to put in the a ton of effort to understand technical analysis, fundamental analysis, market economics and I'd say the most important factor: market psychology (because this market has so many dumbfucks entering every day).

    3) No exchange exposes your stop-loss limits lol. Stop-losses are very important, and are a key ingredient to proper risk management. No matter how good the confirmation is on your chart/fundamental signals, you should always know where you want to enter, exit and stop-loss before you even enter the trade.

    With that all being said I've learned what works/doesn't work and now have a custom dashboard running on Node.js, aggregating a ton of info that I can use for fundamental signals before it reaches the market. This has given me a great edge and allows me hit a fair amount of profitable trades. You can't be right 100% of the time though, and sometimes I misinterpret confirmation of signals, but that's why risk/exposure/money management is so important. All about discipline.

    I also don't fuck with shit coins, low market cap coins (< $5MM), or run around exposing myself to crazy risk. If you treat this like you would any other type of investing (risk/exposure management, money management, non-emotional trading, proper research, etc) you will do well. Lots of dumb money entering the markets right now for guys like me to take, and I don't see that stopping anytime soon. Gotta love the zero sum game of trading.

    If you have any questions I'd be more then happy to answer!

  7. #70
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    Slightly off topic but whats a good site to sign up with to do some stock buying/trading? Something with lower fees and a decent interface or app.

  8. #71
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    Quote Originally Posted by Refresh View Post
    Slightly off topic but whats a good site to sign up with to do some stock buying/trading? Something with lower fees and a decent interface or app.
    Onboard your fiat into BTC at https://www.quadrigacx.com, and I'd recommend these 3 exchanges in order of preference:

    1) Binance
    2) Bittrex
    3) Bitfinex

  9. #72
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    I mean regular stock trading not cryotocurrency. Questtrade Ok?

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