Cryptocurrency

[AAAgent]

averaged in bitcoin at $950. sold at $1300 over the course of 4 months.

I bought ethereum at $50 and sold at $60.

Holding a the same amount of Ethereum at 77. It's currently at $100.

Bought litecoin last night at $21. It's currently at $26 (was at 29 this afternoon).

Today alone, I'm up $600 in profit. It would be alot more if i did not have to cash out my coins last week for a family emergency.

 

[wifehunter]

averaged in bitcoin at $950. sold at $1300 over the course of 4 months.

I bought ethereum at $50 and sold at $60.

Holding a the same amount of Ethereum at 77. It's currently at $100.

Bought litecoin last night at $21. It's currently at $26 (was at 29 this afternoon).

Today alone, I'm up $600 in profit. It would be alot more if i did not have to cash out my coins last week for a family emergency.

Brilliant!!!

Which exchange, wallet etc.? I need to get setup...so EXCITED!!!

 

[samspade]

Brilliant!!!

Which exchange, wallet etc.? I need to get setup...so EXCITED!!!

Not sure about him but I used Coinbase to buy my Bitcoin. It was easy and secure.

 

[wifehunter]

Not sure about him but I used Coinbase to buy my Bitcoin. It was easy and secure.

Thanks, I'll check it out!!!

 

[AAAgent]

Not sure about him but I used Coinbase to buy my Bitcoin. It was easy and secure.

ditto.

FYI - what backbreaker said should be taken into consideration. I buy bitcoin as an alternative currency that isn't tied to our banking system. I don't trust our banking system and i think it could potentially collapse in the next few years. If you are holding bitcoin in the exchange, who knows what will happen to it. If you take it offline into a paper wallet or some kind of secure wallet, it might be safer. If you don't care, then Coinbase has been relatively good so far for me.

 

[AAAgent]

I use Coinbase.

1% fee and secure, because they send a verification text message to the cell on file every time you log in.

They also started selling Ethereum, the #2 cryptocurrency in terms of market cap. Some people think it will eventually challenge Bitcoin as we already saw a crazy rise from $0.96 to $19.48 about a year ago. Undoubtedly some people flipped 6 figures on that. I lost $300 on it recently. It was rallying toward the $15 mark a 2nd time and I got in at $9, but it shortly cratered back down to $6.50.

Drawbacks to Coinbase - very low buying limits the first month or so. I'm talking $250 spending limit a week. Pain in the azz but a fraud prevention thing. But my limit is up to $2,500 now in just a matter of months. Other drawback is it takes 1 week for the Bitcoin to arrive, so currently no day trading but for a much smaller allotment of "available now" buying power (maybe $50 a week).

How did you get to $250 in credit card purchases? I've tried 100 times getting more verification with my license but it fails to recognize the image. I'm stuck at $100 purchases a week and have to buy from my bank account.

 

[AAAgent]

I had 100 ETH just six months ago which I spent $1200 on. That would be worth over $5000 today if I'd held.

I just re-purchased 50 ETH when it was $45. Cost me $2,300 and is an incredibly risky short term investment now, because there very well could be a correction soon where it plummets back down to $15-20. However currently it sits at $51 so I'm up a few hundred as of now. I wasn't going to risk missing the train again IF it just keeps going and eclipses $100 soon.

Even if it plummets short term, I'm confident in Ethereum right now. It is now a mainstream coin sold on the most reputable exchanges like Coinbase. Ether, like Bitcoin, has seen RIDICULOUS gains in a short period of time, but Ether has been the surging coin of 2017 thus far.

Ether is closing in on a $5b market cap, and Bitcoin's is currently $16b. Ether reached a 4b market cap in 1 1/2 years, and it took Bitcoin 4 years to do the same.

Ether's market cap is now 1/3 of Bitcoin's, previously thought to be unheard of as Bitcoin used to totally dominate the crypto market. Over 90% of the money circulating in cryptocurrencies was in Bitcoin a few months ago, that number is now 67%.

In short, here's the difference between the two.

Bitcoin: A de-centralized online currency (the first of it's kind)
Ethereum: A de-centralized developer platform where developers can upload applications without a middle man, AND a cryptocurrency

In other words, there is nostalgia in Bitcoin, but Ethereum can do a lot more. This is why Ether has come out of NOWHERE, only the 2nd coin to reach a 1b market cap and in rapid speed.

Ethereum's mentality is that CURRENCY should be to de-centralization what EMAIL is to THE INTERNET - only a small piece of the puzzle.

@Tenacity curious about your thoughts on this.

Don't sell. Bitcoin is on it's way up to 2000+ this summer. All alt coins will rise with it. Watch all the legalization going on with bitcoin. China, Russia, US, Japan, some random tropical islands have all legalized bitcoin as a method of payment. Pair that with China's markets plummeting, europe in turmoil (especially if le pen wins and does leave the EU), more people are going to learn about bitcoin and an alternative currency and speculative store of wealth. That and precious metals, gold and silver.

 

[AAAgent]

For all the crypto guys interested in learning a bit more. The current market cap of all the crypto currencies/digital currencies in the world is roughly $25bn. $25bn compared to the market cap of gold, $7 trillion just to put how small the market is currently into perspective.

China, Japan, Russia, USA, and a few other smaller no name countries are all working on making bitcoin a legitimate currency. Banks are now trying to develop some type of blockchain payment system but it's way behind the game.

With the way that global currencies are heading, economies are heading, peak prices in the stock market and real estate, people will be looking to diversify their assets and wealth. Crypto currency market cap is miniscule. The British Pound has devalued by 30% in just a handful of years, same with the euro 30%. People will not want to be in those currencies in the next couple of years. Right now people think the dollar is the safe alternative, but everyone reading this post already knows the state of our economy. We're not that much better but people would rather hold sh1t that stinks less and that's what the dollar is currently considered (the cleanest dirty shirt in the hamper). The European, American, Japanese, Chinese, South American economies are declining fast. Most of South America is already in a well known recession if not depression. Real estate is at peak prices, stock market is at peak prices, wealthy investors know this and are trying to find ways to get their money into other assets.

While the poor remain poor, the rich are buying what they can to preserve their wealth. Especially the chinese. Crypto currency will just be another asset that will be purchased to preserve wealth. As you can all see, the market cap is miniscule so even if 0.1% of a billionaire's wealth is put into crypto, and crypto's start to become something every speculates in, the market cap could easily quadruple or at minimum double in a short amount of time. 1 to 2 years.

 

[AAAgent]

i made $700 in profit off litecoin in one week. I was hoping with litecoin activating segwit, litecoin would get a big jump in price but it pretty much leveled off around 32-33. I averaged in litecoin at 23 and sold at 32, 33, and 36. The bulk of my sale was at 33. I bought back in ethereum averaging at 77. Ethereum topped out around 99 and is now hovering around 87. I converted all my money from litecoin back into ethereum and also bought 2 bitcoin which i plan to hold. I would probably but more ethereum/bitcoin but im capped out at all my limits for the week.

I expect bitcoin to top out around 1900 at golds previous all time highs, take a brief dip and resume it's upward trend above 2k very soon.

 

[samspade]

Bitcoin is at 1861 per dollar now. It's on a great run.

 

[AAAgent]

Looking like bitcoin did top out around 1900. I sold around 1900 and converted to ethereum. Currently sitting in all ethereum and it's holding steady around 90. Bitcoin is currently sitting around 1770, and still slowly pulling back (by slowly i mean gradually coming down fast in a span of a few days as opposed to rocketing down). I'm expecting it to come down a bit more then where it's at now. I'll probably get back in bitcoin around 1600 again and anywhere below that. I'm hoping ethereum will get a pop from this and other altcoins will get a pop from the selling in Bitcoin.

 

[Solomon]

Bought some litecoin on Wednesday about to buy ripple. Was at .18 cents yesterday
Besides gatehub anyone recommend a wallet you don't need a passport to verify?

 

[samspade]

Wow. Sold my bitcoin, I see what you were saying. It's been slowly dropping and there's been some negative news. So I paid $200, and sold for just under $500. Not a bad little investment. I may dip back into some altcoins in a month or two.

 

[AAAgent]

yeah, im in all cash now. I hold no crypto. After ethereum hovered around 88-89 for a good 5+ hours, and litecoin and bitcoin dropping, I decided might be best i just wait this out. Depending on what coins drops more % wise, I'll probably hop into those. I'll get back in litecoin if it hits $25. It was at 25 earlier but i missed it.

I do expect it to go back up soon, but either way I made money and will buy back cheaper so it's a win win.

 

[AAAgent]

I went all in litecoin. I got in friday night around $27. I did not expect this drop off from $1900 to be very long. I was hoping for it to go closer to 1400-1500 but looks like bitcoin stabilized around 1700 after briefly touching low 1600's and is now slowly on its way up towards 2300. Only a $300 drop when i was expecting closer to $500 but still a drop nonetheless. I'm hoping i can get to 50% gains on litecoin soon but we shall see. Looking for litecoin to break above $38 or below $23. So far it's anywhere between 28-32. We will know soon enough.

In case anyone missed this, it was a very short drop i was expecting in terms of time frame. Shorter than what i expected.

 

[BeTheChange]

@AAAgent

Had a read through this thread. Very Interesting stuff! How much would say you have made overall on cryptocurrency and with what capital? What's your ROI been?

This looks highly speculative but would be very interested in allocating a small portion of my investment capital (c. 5%) to something like this. What's the best way to get started?

 

[AAAgent]

jumped off litecoin. Looks like it's going lower and has been trending lower with bitcoin. I expect it to go lower into low 20's and will consider buying back in there.

@BeTheChange
I've been following crypto for years but wasn't a firm believer until it got more solid footing. I've only starting buying bitcoin since January 2017 and ethereum/litecoin as of April. My ROI is about 35% after fees which have cost me alot. I'm not the most efficient swing trader of this stuff, but it's a market this isn't heavily manipulated by the banks so it's alot easier for me to make money as I don't have time to trade and follow charts. I lost a decent bit off litecoin buying in at $27 and selling at $26 since off fees alone I lost about $200+ but still overall in the healthy green. If i didn't have to sell my bitcoin for the family emergency, I would be up closer to 60% after fees.

coinbase is great for beginners. It has an phone app too.

 

[switch7]

jumped off litecoin. Looks like it's going lower and has been trending lower with bitcoin. I expect it to go lower into low 20's and will consider buying back in there.

@BeTheChange
I've been following crypto for years but wasn't a firm believer until it got more solid footing. I've only starting buying bitcoin since January 2017 and ethereum/litecoin as of April. My ROI is about 35% after fees which have cost me alot. I'm not the most efficient swing trader of this stuff, but it's a market this isn't heavily manipulated by the banks so it's alot easier for me to make money as I don't have time to trade and follow charts. I lost a decent bit off litecoin buying in at $27 and selling at $26 since off fees alone I lost about $200+ but still overall in the healthy green. If i didn't have to sell my bitcoin for the family emergency, I would be up closer to 60% after fees.

coinbase is great for beginners. It has an phone app too.

Are you trading completely off fundamentals or are you using technicals as well?

 

[AAAgent]

both.

 

[Roober]

I wonder if this ransomware attack is less about the ransoms and more about getting more people into bitcoin to drive up the price?