Cryptocurrency

[PrettyBoyAJ]

Look forward to AAA, good stuff

 

[AAAgent]

I've mentioned Veritaseum a few times. I was trying to get into the ICO a month ago and after hours of research, e-mailing the company, I finally figured it out and got into Veritaseum ICO. It was pretty damn confusing but if you put in the leg work, it's well worth it. Veritaseum will be a Wall Street killer with smart contracts that cut out crazy fees from bankers, hedge funds, brokers, etc. Plus it's a research tool founded and run by Reggie Middleton who made tons of sick calls during the past financial crisis and after. His preliminary alpha reports are top notch which are focusing on forecasting various crypto currencies/companies and their future performance.

I bought in at the end of the ICO for around $6 per token.

http://coinmarketcap.com/assets/veritaseum/

Veritaseum is currently hovering around $70 - $90. Roughly a 1,000% to 1,500% gain.

Veritaseum now hovering between $110-$180 @2,100% and as high as 3,000%+ gain since ICO. I'm hearing rumors of 1:1 with Ethereum.

 

[Thefakeslimshady]

First of all I wanted to say thanks to AAA for hooking us all up with valuable information and guidance. I just purchased Litecoin today as my first crypto as it was the only thing in my budget for the moment. That being said, I'm looking forward to all the future posts you'll be making regarding crypto and the ways to make money around it.

The stats surrounding VERI are extremely impressive, and it's crazy to see where it's at after you mentioned it a while back. 170-180 seems high so im hesitant to pull the trigger but don't wanna miss out on any opportunities.

 

[AAAgent]

BTC might be on its next run now. Let's see how this plays out.

 

[AAAgent]

BTC might be on its next run now. Let's see how this plays out.

and here we go!

 

[BeTheChange]

Looking to get into this now my latest property deal has closed. Aiming to allocate no more than 5% of my investment capital. That's be around $8,000.

With that kind of budget which cryptocurrency do you thinking would make the best investment?

Also @AAAgent do you have any recommended resources for gaining and understanding of what is driving the fundamentals here?

 

[AAAgent]

Looking to get into this now my latest property deal has closed. Aiming to allocate no more than 5% of my investment capital. That's be around $8,000.

With that kind of budget which cryptocurrency do you thinking would make the best investment?

Also @AAAgent do you have any recommended resources for gaining and understanding of what is driving the fundamentals here?

FYI, any information I post here is not investment advice (I want to make this clear so you don't bet your house and lose it and blame it on me). I'm posting what I'm doing and my reasoning behind my decisions while also giving you guys some insight into the crypto space.

With that cleared up, Bitcoin and Ethereum are the two largest market cap crypto's Bitcoin is a universal currency that can potentially replace the USD (who knows if it will). It's built on the block chain which is an wide open bank statement that tracks all transactions (basically anyone anywhere and anytime has access to the blockchain to view any and all transactions. nothing is hidden or can be hidden). It's decentralized and unmanipulable by governments, banks, etc. (for the most part). There is a finite amount of bitcoins that will ever be in existence. 21 million. There is roughly 16 million in circulation and x amount of millions of bitcoins that have been lost on old hard drives, computers, or just simply lost. Each and every block of bitcoins that get's mined, the next batch becomes x times more difficult to mine. The last bitcoin to be mined is estimated to be over 100 years from now or something ridiculous.

Ethereum is a platform that the new internet 3.0 will supposedly be built on. Ethereum the crypto currency is the token all individuals and organization will need to use in order to do ANYTHING on the Ethereum platform. Corporations and even other crypto companies are using Ethereum to build new companies and even issuing their own crypto currencies. Golem is a platfor built on Ethereum. They needed to buy Ethereum in order to fund their platform Golem. Golem is a platform that allows users to sell their computing power to other Golem users and into the Golem platform. It also allows users to buy computing power for any projects that they would live to dabble in and need additional computing power. Golem itlsef pays in you Golem tokens.

Sia is another platform built on Ethereum. Just like Golem and every other company (banks, General Electric, etc.), they need to buy ethereum in order to fund their company/project being built on Ethereum. The Sia platform is a cloud storage company like Google, Amazon, Microsoft, etc. that allows users to sell their computer storage space on the Sia platform. As the Sia platform cloud draws from so many different users storage space, it's decentralized and no entity will ever be able to look into the files you store like Google, Amazon, etc. most likely does and probably sells to the government and other entities. Sia pays you in Sia tokens just like Golem.

Veritaseum is also built on Ethereum. That is why you see many crypto's traded against Ethereum.

VERI/ETH
GOL/ETH
SIA/ETH

There are hundred of other companies and tokens that are built on Ethereum. There are plenty of other platforms that are competing with Ethereum as well that have similar structures.

The fundamentals I believe that are pushing crypto up, are the block chain technology/decentralization and Ethereum on the tech side of innovation. The other side of the financial equation you have MASSIVE currency devaluations happening in all major developed countries. We're printing tons of money in China, Japan, Europe, South America, USA, Canada, etc. You also have 1% to negative interest rates in USA, Europe, and Japan for the last 10 years. Very little interest bearing yield for anyone trying to save money or invest in interest bearing assets (especially for the old people who live off of savings/interest). Most people did not recover from the last financial crisis so the low interest rates have little to no positive effect for them. The rich people are making a killing off these low interest rates because they can borrow for free. The hyper inflation isn't showing too well because it's being mixed with deflation (confusing I know).

Hyper inflation is the result of too much currency supply hitting the markets for x amount of goods. I explained how this is happening. Rich people/foreigners are buying everything.

Deflation is the result of lack of currency supply hitting the markets. The average person is struggling, working multiple part time jobs, hasn't gotten a raise in who knows when, or is unemployed. These people are doing little to no spending. So you have one side of the spectrum spending little to no money and trying to save what they can, and the other side spending like crazy and borrowing like there's no tomorrow, it creates pockets of deflation and inflation. Housing and stock markets are super inflated.

Here is a link from the Federal reserve of the Money velocity. Basically, the speed of which cash exchanges hands from one person to another. We're at record setting 40-50 year lows or money velocity. Money hasn't exchanged hands this slow since the early 1970's.

https://fred.stlouisfed.org/series/m1v

I'll end my rant here, but basically the technology is very innovative, is decentralized meaning no central entity or government has claim or control over crypto currencies, and many of them solve problems. As they can't outright destroy crypto currencies without shutting off the internet or massive regulation (which would not be good), many countries are starting to adopt crypto currencies/bitcoin as a method of payment.

I have not been sleeping well with these crazy movements in price in crypto. With all these new ICO's (initial coin offerings), many of them require you to pay for the new coins using ethereum. One ICO was so massive, it basically shut down the entire Ethereum network and caused massive delays in Ethereum transaction world wide. That's why you see coinbase along with many other exchanges issuing Ethereum delays/suspensions or trades.

 

[synergy1]

I am late to the game, but have been learning a little about cryptocurrencies lately. My pros and cons as thoughts are below:

Pros

1- No central banking, or banks. Cutting out the middle man makes it easier to transfer money to another party.

2- Limited supply. No money printing or inflation.

3- No one is in charge. the market drives the currency based on supply and demand alone.

4- Interesting that an algorithm controls the currency. Also interesting that its a redundent system which keeps a ledger so that its very hard to manipulate. I mean dollars are basically traded digitally as well, but we are taxed and the supply is controlled.

5- its durable, small and easy to carry - just use your cell phone!

6- Great for the large part of the population which doesn't have access to a bank account. In places like India where there is a lot of currupt middle men, but cutting them out, you reduce a slew of problems.

Cons:

1- Still need to pay taxes is US dollars

2- Not sure there is a way to get bitcoin back in a fraudulent transaction. The legal system sure won't help. Once its gone its gone.

3- While bitcoin will only have a limited number created, whats to stop other competitors from appearing. some already have.

4- How it respond in a crisis?

5- Will it achieve wide scale adaptation?

These are some of my questions, and there are probably answers to them already. But I'd be interested in purchasing a small amount just for fun. As an investment there are too many unknowns. The biggest has to be the govnt which will use coercion if needed to make bitcoin transactions as hard as possible since they will *always* want their piece of the pie. Do not underestimate central govn't greediness. They will probably, or already have tried to sabotage a decentralized currency. Banks would be in a similar situation since they make a killing lending out other peoples money.

 

[PrettyBoyAJ]

AAAgent have you ever looked into an autobuy program? Yesterday Ethereum went to ten cents and shot back up. If people an auto buy program we could've bought 100s at that price before it shot back up.

 

[AAAgent]

AAAgent have you ever looked into an autobuy program? Yesterday Ethereum went to ten cents and shot back up. If people an auto buy program we could've bought 100s at that price before it shot back up.

Yeah, yesterday's flash crash was a result of Status ICO major fvck up. A lot of people lost their ETH, many others could not get in, people that paid for gas that expedite their transaction were placed behind institutions that used normal amount of gas which doesn't make sense. ETH really need to get their network together and Status which is a great idea and potential opportunity really screwed people and destroyed their rep in the community. Luckily US could not get in on it and I've got enough sh1t on my plate to try and get in on every ICO.

Do I do regular buys? No. I've pretty much got what I want already and i'm diversifying in other things such as mining, lending, focusing on growing my social media crypto earning potential, and waiting for major dips. I also pay for research in the space and read and watch videos for a few hours a day.

I don't think buying regularly is too bad of an idea, but I would save to buy on dips, and diversify either into getting your own miner or cloud mining (what I do).

I will start my own thread soon, just need the dust to settle. I will be listing how im diversified, the risk levels of some of the risker things I'm involved in like cloud mining and crypto lending, paid research reports that I use, people I follow for general information, etc.

 

[PrettyBoyAJ]

Any idea on how to get/set an automatic buyer to catch those crash dips?

And can you explain a little bit more about cloud mining?

 

[AAAgent]

ETH flash crash explained. I follow Ivan and he's a good VERY intelligent dude. Follow him to learn.

you can use other exchanges that allow you to trade more cryptos (not coinbase), and you can set limit buys. Coinbase doesn't allow you to do this. I have not set reoccurring buys on coinbase so i'm not sure when they actually process the buys. I do not trade crypto's. IT's become very difficult to trade crypto's and people lose more money trading crypto's than from holding.

 

[PrettyBoyAJ]

Yea, I need to start exploring more exchanges and seeing what the other ones have to offer.

 

[AAAgent]

Here are some exchanges you can start with gdax, poloniex, gemini, kraken, bittrex, etc.

 

[PrettyBoyAJ]

I like Coinbase because I like to do a lot with my phone. Any of you guys know anyone that set a low buy limit on Eth? Would that even work in that situation? If so I'm sure people came up big time.

 

[AAAgent]

India legalizes Bitcoin.
https://cointelegraph.com/news/suddenly-bitcoin-to-be-officially-legal-in-india

 

[AAAgent]

That's f'n crazy.

Either one of three things is gonna happen:

1. Ethereum has already peaked ($0.96 to $51 in 18 months is remarkable enough) and there will be a huge fall from grace
2. Ethereum will surpass $1,000 a coin and overthrow bitcoin as the dominant crypto
3. It will slowly rise to the $100-250 range and be a solid alternative coin if Bitcoin remains the default coin

I'd be in good shape if 2 or 3 came true. Either way I think Ethereum is here to stay. So pissed I sold 100 coins for pocket change....

@BlueAlpha1 looks like 3 came true and we might be gearing up for 2. How's crypto space treating you?

100 ETH would be a nice amount right now and even crazier at $400 ETH.

 

[AAAgent]

https://uetoken.com/

Useless Ethereum Token

 

[PrettyBoyAJ]

Just an update for everyone. So I've been into Crypto for a good month now. Started in the red but back to green. Invested a lot in OmiseGo when it was around 1$ and now it's shot up to 3.50+. Also previously I mentioned I like District0x. It's ICO price was just .01 cents and now that is listed on the exchanges it is up to 2 cents. Easy flip for anyone who purchased that.

https://coinmarketcap.com/assets/district0x/

As far as CoinDash, it's really my biggest gamble thus far but currently on EtherDelta it's trading at 3 cents which is what I paid for it. So I'm just going to HODL and see what happens. Got a bunch of LiteCoin as well and some Ether when it was sub 200. Now it's over 250 as we speak.

My biggest loss however is Populous. I tried chasing the currency because of AAAgent but I know in the long run it'll make me some money. I purchased when it was 5.60 and currently at $4. So overall my first real month into ICO was a roller coaster but I'm in the green and it's all good.

ICO's I'm contemplating this month are 0x, Enigma, and Blockstack. Do your research fellas and let's get to this money!

 

[beforeimgone]

Some people believe Bitcoin and Litecoin are the Gold and Silver of the next century.

Others say these "investments" are akin to lighting your money on fire. I say tell it the individuals who invested in Bitcoin at $0.07 in 2011 who are now multi-millionaires. BTC currently trades at $760 per coin.

While extremely volatile, dangerous, and difficult to understand (a recipe for disaster), IF cryptocurrency is here to stay, surely Bitcoin will not remain the only big fish in town forever.

Is anyone enticed by any alternative coins at all?

Ether

I made a program to track the exchange rate if you're interested. I haven't taken a deep dive into it yet though