Bitcoin and Crypto Talk (Merged)(includes NFT) (5 Viewers)

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saintmdterps said:
Do you store your coin on Binance or move to a separate wallet?
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I haven't seen a reason that you couldn't store it on binance, at least for short term purposes. I may move mine to coinbase if and when it is supported. It's a small amount though so it doesn't worry me much.

I am just learning about all of this with you though. So don't take my word for anything. :)

Sent from my Pixel 2 using Tapatalk
 
saintmdterps said:
Do you store your coin on Binance or move to a separate wallet?
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I bought a Ledger Nano S and moved my Ripple and Tron tokens to it. Just to be on the safe side... I had 2FA enabled for Coinbase and Binance, but doesn't do much if the site itself gets compromised.

I also use Coin.FYI to keep track of my portfolio with the constant changes. So far I've gotten 2.5x total return after two weeks of investing. I'm holding for a while so hopefully that number keeps going up.
 
blasian said:
I So far I've gotten 2.5x total return after two weeks of investing. I'm holding for a while so hopefully that number keeps going up.
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Not to single you out, but what you are doing is not investing. Depending on how one would like to frame things, it is somewhere between "speculating" and "gambling".

Nothing that is an "investment" returns 2.5x in two weeks, unless you believe that Madoff was a good investment adviser.

Do all the bitcoin you want, but do it with money that you can afford to lose all of. Nobody's going to ring a loud bell when the "market" for these securities suddenly goes to zero. Unlike assets with SOME underlying long-term value (land, inventory, patent portfolio), when the panic hits, it will be all sellers and no buyers, and to zero it will go.
 
SaintJ said:
Not to single you out, but what you are doing is not investing. Depending on how one would like to frame things, it is somewhere between "speculating" and "gambling".

Nothing that is an "investment" returns 2.5x in two weeks, unless you believe that Madoff was a good investment adviser.

Do all the bitcoin you want, but do it with money that you can afford to lose all of. Nobody's going to ring a loud bell when the "market" for these securities suddenly goes to zero. Unlike assets with SOME underlying long-term value (land, inventory, patent portfolio), when the panic hits, it will be all sellers and no buyers, and to zero it will go.
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There's more than a few stocks that have doubled in value in spans of 2.5 weeks or less.

Seems like the only difference between "investment" and "speculation" is the risk involved.
 
DCSaints_Fan said:
There's more than a few stocks that have doubled in value in spans of 2.5 weeks or less.

Seems like the only difference between "investment" and "speculation" is the risk involved.
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Yes, that’s elementary. There’s a point where the beta becomes so high that it’s just not an investment - it’s a gamble. But that point isn’t the same for everyone.

Also relevant is the source and purpose of the funds relative to the buyer’s financial picture.
 
SaintJ said:
Not to single you out, but what you are doing is not investing. Depending on how one would like to frame things, it is somewhere between "speculating" and "gambling".

Nothing that is an "investment" returns 2.5x in two weeks, unless you believe that Madoff was a good investment adviser.

Do all the bitcoin you want, but do it with money that you can afford to lose all of. Nobody's going to ring a loud bell when the "market" for these securities suddenly goes to zero. Unlike assets with SOME underlying long-term value (land, inventory, patent portfolio), when the panic hits, it will be all sellers and no buyers, and to zero it will go.
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You can call it whatever you want, it doesn't really bother me. I actually went with the strategy of catching something with potential while it's a few cents per token. Something with potential that was less than 3 cents seemed like a wiser choice percentages wise. That 3 cent token is now 12 cents, so I've gotten 4x profit so far since Sunday. I also read a bit and watched live streams from the CEO before I committed to this.

Had I invested that same amount into something like Bitcoin, Ethereum, or any of the well established ones, I probably would have lost money or not gained much at all. I understand this isn't a guarantee. It's all just a little strategy and luck. Keep in mind, I just got into this a few weeks ago and I haven't bought or sold anything in about a week. I'm just watching and keeping up with news in the crypto world.
 
superchuck500 said:
Also relevant is the source and purpose of the funds relative to the buyer’s financial picture.
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It was really just something to see what happens in 5-10 years. Of course, I'll keep an eye on things on the daily because it shifts so fast. Especially considering the digital age where security is critical. I normally stay away from social media, but it's also a good source of news as long as you can screen the BS out there. My thought process was get in early and cheap on something that was worthwhile, because something that's 3 cents has a better chance of being $3, versus something that's $1,000 becoming $100,000.
 
Expatriate said:
Eth owners are getting happier and happier by the day.
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Chickened out before this recent tanking ans old all of my minor alt cryptos (save a few XRP and XLM) and bought a bunch of Ethereum.
Seems like a lucky good move.

Ended up turning 10 LTC into 7 ETH via Binance and these altcoins in less than 2 weeks.
 
Markets are down across the board on news that Seoul may be instituting prohibitions on crypto trading. Koreans have been significant players in the market.
 
Mkt manipulation?

https://techcrunch.com/2018/01/11/south-korea-bitcoin-regulation-story-lives-on/

As ever in the world of crypto, the slightest ripple of information can be taken out of context, and that appears to be the case here.

Reuters reported comments from Korean Justice Minister Park Sang-ki who said claimed his ministry “is basically preparing a bill to ban cryptocurrency trading through exchanges” following “enough discussion” with a range of government agencies, including the finance ministry.

As Reuters itself points out, any draft legislation would require the approval of parliament which could takes months, if not years. Even if that were to happen, the timing seems off with local elections upcoming this year and bitcoin, ethereum and other coins hugely popular among young people in Korea.

Looking back just weeks, today’s quotes also fly in the face of previous comments from the government’s financial regulators, which had said that it plans to prevent minors, foreigners and institutions from owning and trading cryptocurrency.

Nonetheless, with Korea the world’s largest trader of bitcoin on a country basis, the scare was enough to spread fear and move the market. The price of bitcoin lowered to $13,126, according to Coindesk, that’s the lowest since December 30. The price later rebounded as context was added to the minister’s comments.
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