Can we have a crap-free Crypto thread? One that focuses on useful information that can be acted upon? Let the other Crypto thread be used for speculation and conspiracy theories, not this one.





The hacking of Coincheck underscores the importance of keeping most of your Cryptoassests in a wallet and not an exchange.

The mantra for Cryptoasset investors:  HODL

https://en.wikipedia.org/wiki/HODL

I am reading "Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond" by Chris Burniske and Jack Tatar

6 must-read books about bitcoin

https://www.cnbc.com/2017/12/28/4-books-to-become-a-cryptocurrency-expert.html

Somthing by Emin Gün Sirer‏ I came across. This is about as good as anything in terms of countering both the irrational exuberance and FUD (fear, uncertainty, doubt) that gets in the way of going about this rationally, which is rule number one.

"For most people, this is their first big crypto market downturn. First, I'm sorry, but this high variance is why everyone loves these assets. They're not Union Pacific, not Stores of Value. They move. Just as much down as up.
The question you're asking is: Why?
Be wary of anyone who has an explanation. Disregard everyone who finds easy answers in charts. Ignore idiots with undergrad econ degrees who try to pass themselves as experts. And definitely let the trader/loser crowd inhabit basements, where they periodically get wiped/rekt.
Even if someone were to present you with a plausible explanation, **as well as definitive proof for that explanation**, it wouldn't be useful, because markets are very complex and the chances of us encountering this condition again are zero.
Almost the entirety of all prices are based on speculation. It's all those idiots who rushed in at the same time, who are rushing out at the same time. We have seen the problem, and it's us.
What matters now is what your reaction ought to be.
Should you sell everything? Or HODL like all the daytraders told you to do (while they dumped their holdings onto you)?
Don't do either of these things. I know many of you are doing both, as we can see it in the price. They are all equally dumb.
You should only invest in and hold coins which you believe will be used, extensively, in the long run. If you bought coins on a whim, without an investment thesis, based on hype, well, they are pure speculation.
When the entire field is red, we have an information flow problem. Not all of these coins share the same fate. They are not all on the same trajectory. If their prices are moving in tandem, there's something wrong with how people equate them to each other.
This is a time to revisit your investment theses. If you cannot answer the question of "who would desperately want to acquire this coin in the future, and for what purpose," then it's worth re-thinking your position.
If the coin isn't fully operational, if there's a gap between the coin as it is now and how it is supposed to operate in the future, you should ask many more questions, like a VC. Can the team take it there? Is there a feasibility study? Are there technical or UX problems? etc
At the end of the day, cryptoassets are just like every other asset. You need to have a firm investment thesis, and you should reevaluate it as more information becomes available."

AiA wrote on Jan 29^th, 2018 at 12:52am:

Can we have a crap-free Crypto thread? One that focuses on useful information that can be acted upon? Let the other Crypto thread be used for speculation and conspiracy theories, not this one. The hacking of Coincheck underscores the importance of keeping most of your Cryptoassests in a wallet and not an exchange.

We can, with the correct drugs, all float off to the ethereal I suppose!

Would that help?

kemal wrote on Feb 4^th, 2018 at 8:06pm:

AiA wrote on Jan 29th, 2018 at 12:52am: Can we have a crap-free Crypto thread? One that focuses on useful information that can be acted upon? Let the other Crypto thread be used for speculation and conspiracy theories, not this one. The hacking of Coincheck underscores the importance of keeping most of your Cryptoassests in a wallet and not an exchange. We can, with the correct drugs, all float off to the ethereal I suppose! Would that help?

No.

Quote:

Well what a week, eh? Who's panicked? Who bought high and sold low (to those who keep consistently averaging in with regular consistent buys as Crypto markets move up and down)? Who's happy and who's sad? Angry? Who's been holding off to jump into these markets and now sees opportunity? Who concludes this just isn't for them? Who's been buying regularly and the way down and will keep buying regularly on the eventual and [I think] certain trip back up? Here's my general take. I don't look at my portfolios very often, neither the Patreon nor my personal. In fact, I haven't even looked at my personal portfolio in over a month. I don't care about the prices. If I think about it at all, which I try to avoid, then I think instead about other things in the history of human civilization that were true game changers. So, for instance, suppose you're some dude of dudess way back in the days of farming and you notice that things like agriculture just getting have great potential to feed more people, increase fecundity, and so on. You might want to accumulate land and livestock, unconcerned with what it might "cost" in terms of the work of homesteading, investment, occasional pillage, etc., understanding that no matter what, this is going to be big...at some point, who knows when. Or, suppose you hear about this new technology called "money," and you might want to set your sights toward erecting a secure building, designing secure storage within it, and inventing innovative services. You'll call it "banking" services and then one day you realize you can actually print money, loan it out, and charge interest on it... Suppose you saw the personal computer and internet coming, dispensed with your silly notions of flying cars and and instead made shrewd investments positioned to be the eventual "picks and shovels" behind these certain massive markets that change everything... And the list goes on and on. So here's the other part. I've generally advocated regular buys into Crypto since I began this gig. It's not to late to start and in fact, for many of you, it's an incredible opportunity. For some others of you, you're getting a gift of a great second chance. You thought it was running away and low and behold, it turned right around and has graciously come back to get you and take you along for the ride. Let's just consider an example and you're welcome to scale it up or down depending on your means and risk tolerance. Let's say you have the equivalent of a 401K, employer matching to some degree, and you you want to max that out for both the tax benefits and growth over a long time. So, perhaps you're setting aside $1,000 per month and I know many people of average means who do just that, and more. It's automatically deducted so they never see it, never think about it. So, suppose you modify your deduction down to $800 per month, with a firm commitment to invest the other $200 monthly into crypto (or, $500/$100, $1,500/$300, etc.—but I think 20% is a reasonable number). And because of volatility. you're going to buy weekly instead of monthly. So you're going to buy $50 per week, each and every week. You could perhaps do Bitcoin and Etherium, or perhaps you want to add Litecoin. The split is up to you. I'm a fan, currently, of 65-70% Bitcoin and 30-35% Ethereum. Up to you. To do that, what I do for my personal portfolio is a setup in Coinbase that's just on auto-pilot: every Monday, like clockwork. I use the ACH method, which means you're buying at the price at that moment, paying a small fee, and I let it sit there in Coinbase. Then, about every month, I sweep it first to GDAX, then onto my wallet for no transaction fee. But here's something else I do. Returning to the $50 weekly example (your amount may be more, it may be less), I'd do something like only do the weekly auto buys with perhaps $35...so say $25 to Bitcoin, $10 to Ethereum. The other $15 is a weekly automatic straight ACH to my Coinbase USD wallet where it accumulates for exactly times like these. Depending on how much, I might have been doing daily buys of BTC with all all during this last week, so averaging daily with that money, as there's no question about this being a dip. I also might, once I've used all of that set-aside money, modify my weekly buys up to the full $50 until such point as the market begins a firm move upward. Now there's a simple and I think, foolproof strategy that anyone can do easily. And, over time, as you perhaps  find spare cash or take on additional work to have more time, you can certainly get started with litttle plays here and there in wider alt and ICO markets. ...I was going to cover and comment on a collection of news article and general FUD I've seen over the week, but I'll save that for tomorrow. I am now pretty much back to full normal, perhaps like we're likely to see the crypto markets resume sometime soon. Take care, be rational out there. Dismiss both irrational exuberance and FUD. Nobody knows, and this is why you need a sound and simple investment strategy you can be consistent about and that's founded upon the firm idea that Crypto is a true game changer and will eventually pay off for all of us who kept our heads on straight, maintained an open mind—just not so open as to let our brains fall out.

The blockchain via ethereum as potential Uber/rideshare disrupter

Why Blockchain Could Kill Uber

https://www.forbes.com/sites/bernardmarr/2018/02/09/why-blockchain-could-kill-uber/#c4752a24179e

A Better Taxonomy for Cryptocurrencies


A simple classification to help make sense of the gazillion coins


https://medium.com/swlh/a-better-taxonomy-for-cryptocurrencies-cbffd2e1b58c

Mah site.
https://cointradingnews.com/pages/announcements.html#

Pho pro crypto tips.

Buy on long term supports.
Sell near long term resistance.
Learn chart fu!
The mind is the enemy. Fomo and fud make you money, not lose you money.
DYOR-Follow others come second.
If you have unallocated capital park it in illiquid coins at a super low price. profit from whale dumps.
Twitter and reddit are no1 for quick info.
Buy red, not green.

I never stopped my weekly purchases of BTC and I still HODL ...

I am all smiles that not only did i hang on to my BTC but I kept buying it when people scoffed at me :)

AiA wrote on Jun 27^th, 2019 at 11:57pm:

I am all smiles that not only did i hang on to my BTC but I kept buying it when people scoffed at me :)

People buying alt coins are currently being scoffed at FWIW

This guy looks like he spends too much time in his bedroom playing video games and masturbating to Pornhub but he does have something useful to say ...

https://www.youtube.com/watch?v=EWCYCxxdn_M&feature=share&fbclid=IwAR0nrte3vugQJQR2pG-Xub-2cGy_3QC_e9g3qG2cy7ZWIgARBLHM2mt_cPo