Crypto

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  1. #16
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    I appreciate folks who don't fully understand cryptography and blockchains could think the market is based on nothing, but this couldn't be further from the truth.

    This is a huge difference between the meme tokens and those with legitimate utilities. After Bitcoin, Etherium changed the game by bringing programming languages into the equation which has allowed for actual use cases (example: smart contracts) beyond just a store of value like BTC and LTC (which are both here to stay - think of them as Gold and Silver).

    Now that we have proof of stake platforms bringing the same type of utilities Ethereum has been capable of but replacing mining with staking... this broadens the space even more with platforms that have real value in the world.

    Crypto is not going anywhere. Regulation will inevitably come and it will have to mold and grow but even that if done properly will allow ETF's and greater access to 401k and IRA investments into the space creating even larger Market Caps..

    There is currently over 2 Trillion dollars spread around the entire crypto market.. 2 Trillion.. this is not a space with no real value or foundation. It has just as much legitimacy as fiat currency does.. fiat is viable only because the public accepts it as so... there are enough people by a long shot who accept and see's the value and uses blockchains and their respective native tokens provide to have laid more than adequate foundations.

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    Quote Originally Posted by MidWest View Post
    I appreciate folks who don't fully understand cryptography and blockchains could think the market is based on nothing, but this couldn't be further from the truth.

    This is a huge difference between the meme tokens and those with legitimate utilities. After Bitcoin, Etherium changed the game by bringing programming languages into the equation which has allowed for actual use cases (example: smart contracts) beyond just a store of value like BTC and LTC (which are both here to stay - think of them as Gold and Silver).

    Now that we have proof of stake platforms bringing the same type of utilities Ethereum has been capable of but replacing mining with staking... this broadens the space even more with platforms that have real value in the world.

    Crypto is not going anywhere. Regulation will inevitably come and it will have to mold and grow but even that if done properly will allow ETF's and greater access to 401k and IRA investments into the space creating even larger Market Caps..

    There is currently over 2 Trillion dollars spread around the entire crypto market.. 2 Trillion.. this is not a space with no real value or foundation. It has just as much legitimacy as fiat currency does.. fiat is viable only because the public accepts it as so... there are enough people by a long shot who accept and see's the value and uses blockchains and their respective native tokens provide to have laid more than adequate foundations.

    MidWest

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    Which indicator/studies do you use to trade with? I use RSI and MACD.

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    Quote Originally Posted by randy4me View Post
    Which indicator/studies do you use to trade with? I use RSI and MACD.
    I combine Fibonacci and RSI primarily. This combined with simply utilizing Twitter, Reddit and event calendars such as coinmarketcal to apply fundamentals is my methodology.

    So far my process has served me very well. Since beginning of Feb I have lost 3 trades out of slightly over 100 total.

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    Quote Originally Posted by MidWest View Post
    I combine Fibonacci and RSI primarily. This combined with simply utilizing Twitter, Reddit and event calendars such as coinmarketcal to apply fundamentals is my methodology.

    So far my process has served me very well. Since beginning of Feb I have lost 3 trades out of slightly over 100 total.

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    I mostly just follow the trends. I draw trendlines on the 1hr and 5 minute timelines and just ride the trend. Works out well for me.

  5. #20
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    Roger that, happy to hear you are finding success brother.

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    Quote Originally Posted by MidWest View Post
    Roger that, happy to hear you are finding success brother.

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    Quote Originally Posted by heavyiron View Post
    I got it at about $345 and then again at about $304 today.
    I also added at 301)


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    Quote Originally Posted by MidWest View Post
    I appreciate folks who don't fully understand cryptography and blockchains could think the market is based on nothing, but this couldn't be further from the truth.

    This is a huge difference between the meme tokens and those with legitimate utilities. After Bitcoin, Etherium changed the game by bringing programming languages into the equation which has allowed for actual use cases (example: smart contracts) beyond just a store of value like BTC and LTC (which are both here to stay - think of them as Gold and Silver).

    Now that we have proof of stake platforms bringing the same type of utilities Ethereum has been capable of but replacing mining with staking... this broadens the space even more with platforms that have real value in the world.

    Crypto is not going anywhere. Regulation will inevitably come and it will have to mold and grow but even that if done properly will allow ETF's and greater access to 401k and IRA investments into the space creating even larger Market Caps..

    There is currently over 2 Trillion dollars spread around the entire crypto market.. 2 Trillion.. this is not a space with no real value or foundation. It has just as much legitimacy as fiat currency does.. fiat is viable only because the public accepts it as so... there are enough people by a long shot who accept and see's the value and uses blockchains and their respective native tokens provide to have laid more than adequate foundations.

    MidWest

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    Great answer. You have explained everything and in an understandable form. I agree with every word.


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    Quote Originally Posted by Selinwine View Post
    When it comes to cryptocurrency, everyone has a different opinion. I have just started learning about this and I must admit that is not as easy as I thought. Luckily, I have some friends who have been doing this for a while and I am able to ask them if there is something that I don't understand. I am really grateful for that. Not everyone is willing to help you, especially if we are talking about money. Going from website to website, I've discovered investous.com and I am willing to try it out. After all, I have to know which option suits my needs
    I suggest you take a deeper look before you dive down that road and for anyone else who happens to see your 5th post here...

    Investous has thousands of filed complaints of withdraw issues and overpriced trading fees.. there is no rational reason to use this platform.

    Just my 2 cents..

    MidWest

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    Quote Originally Posted by MidWest View Post
    I suggest you take a deeper look before you dive down that road and for anyone else who happens to see your 5th post here...

    Investous has thousands of filed complaints of withdraw issues and overpriced trading fees.. there is no rational reason to use this platform.

    Just my 2 cents..



    MidWest

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    Don't worry he is just a BOT. 3 of his posts have been deleted and the only other one was another paragraph of ramble that had another website he bought a leg extension off. I neg every BOT that comes to this forum that always posts a questionable link to a website mid-post.

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    Quote Originally Posted by GarlicChicken View Post
    Elon just fucked BTC in the ass pretty hard. Lol it's tanking pretty good. Curious to see how the next couple days plays out
    The drop wasn't entirely his fault, but china has a lot to do with the price of BTC. They just imposed fresh curbs on crypto currency. Beijing banned banks and payment firms from providing services related to crypto currency transactions.

    But it is amazing how powerful Elon's voice is though on twitter. I bought in on the dogecoin hype, and got in at .03. I was watching Saturday night live when he was hosting, waiting for it to get to a dollar, and I was going to sell everything. It never even came close and I wound up selling everything at .61cents. I made a big chunk, and played it smart and just swapped it for TUSD. I will hold it there, until I feel it is wise to put it back in to BTC. But I am big fan of Ethereum too. If BTC rises, so does Ethereum..

    Others that I bought into.. TRX(Tron) and XRP(Ripple)..and of course Ethereum. Monero and LTC are always good choices to In my opinion. But keep your coins offline in a hard wallet. Trezor T supports all the ones you need.

  12. #27
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    Quote Originally Posted by ItalianMuscle View Post
    The drop wasn't entirely his fault, but china has a lot to do with the price of BTC. They just imposed fresh curbs on crypto currency. Beijing banned banks and payment firms from providing services related to crypto currency transactions.

    But it is amazing how powerful Elon's voice is though on twitter. I bought in on the dogecoin hype, and got in at .03. I was watching Saturday night live when he was hosting, waiting for it to get to a dollar, and I was going to sell everything. It never even came close and I wound up selling everything at .61cents. I made a big chunk, and played it smart and just swapped it for TUSD. I will hold it there, until I feel it is wise to put it back in to BTC. But I am big fan of Ethereum too. If BTC rises, so does Ethereum..

    Others that I bought into.. TRX(Tron) and XRP(Ripple)..and of course Ethereum. Monero and LTC are always good choices to In my opinion. But keep your coins offline in a hard wallet. Trezor T supports all the ones you need.
    China is also where the major bitcoin miners are and thus China fucked them as well, plus Elon's tweets just added fuel to that fire...no wonder why bitcoin swooned hard. Most likely be hodl time until sanity returns and perhaps miners ought to set up shop in other countries that are friendly to crypto.
    Show me

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    Quote Originally Posted by MindlessWork View Post
    China is also where the major bitcoin miners are and thus China fucked them as well, plus Elon's tweets just added fuel to that fire...no wonder why bitcoin swooned hard. Most likely be hodl time until sanity returns and perhaps miners ought to set up shop in other countries that are friendly to crypto.
    I agree, this is definitely not the end of the crypt. We need to wait until the countries figure out how to exist in the age of cryptocurrency.


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    Is it a pain doing taxes, when you are constantly buying and selling? I was doing so for about 30 days and making decent money, but was reading comes taxes that i would have a really hard time. I was simply buying 300$ worth in the morning and by the end of the day making a profit of about 90$ to 175$ a day buying dips and selling after each coin would fluctuate to what i felt would be the highest before dipping back down. Then transfer my gain to my wallet before using it again the following day.

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