[SamuelBRoberts]

They were a marketing scam from the beginning. People caught on and ditched them.

[SamuelBRoberts]

(08-08-2017 04:15 PM)churros Wrote:  

Sorry for the newb question. But if is value of bitcoin is this high, why is it still a good time to invest?

Churros, I'm sorry I laughed at you on the first page of this thread.
That was very childish of me and inappropriate.

But the present price of bitcoin is 1 Bitcoin equals 4875.46 US Dollar, so hopefully you kind of see what I was getting at.

[Werekoala]

Went to Coinbase 8/17, started buying LiteCoin $150/week.

Happy.

[[email protected]]

(09-01-2017 04:17 PM)wolfer Wrote:  

what is happening to neo and gas? they go down cause of the Chinese Regulation?

Yes, they Chinese government said Chinese nationals can't participate in ICO's and so this was a set back for Red Pulse (RBX) ICO based on the NEO platform. Investors sold off and it went from $39 to $30. I had half my portfolio in NEO but sold off into ETH @ 320 before the big sell off. I'm sure NEO will recover and go to $100 but not sure when. At the moment everyone wants ETH because of the ETH fork drops. I'm sure NEO will go to $100 but could be as late as end of Dec. I expect a big pullback November when BTC forks again with Segwit2x.

[churros]

(09-01-2017 05:41 PM)SamuelBRoberts Wrote:  

Churros, I'm sorry I laughed at you on the first page of this thread.
That was very childish of me and inappropriate.

But the present price of bitcoin is 1 Bitcoin equals 4875.46 US Dollar, so hopefully you kind of see what I was getting at.

I appreciate it. No hard feelings.

I get there's been a massive spike. I'm just wondering if the ship has sailed entirey for late comers, or if a crash is expected.

Maybe nobody can answer that question.

[JayJuanGee]

(09-02-2017 09:07 AM)churros Wrote:  

(09-01-2017 05:41 PM)SamuelBRoberts Wrote:  

Churros, I'm sorry I laughed at you on the first page of this thread.
That was very childish of me and inappropriate.

But the present price of bitcoin is 1 Bitcoin equals 4875.46 US Dollar, so hopefully you kind of see what I was getting at.

I appreciate it. No hard feelings.

I get there's been a massive spike. I'm just wondering if the ship has sailed entirey for late comers, or if a crash is expected.

Maybe nobody can answer that question.

There are a lot of folks who make this mistake in bitcoin, at every single price point. So you could wait a few years, like many people do, or you could start some kind of action plan that would include dollar cost averaging. Of course, you can employ other measures as well, including attempts to buy more during dips - but if you don't do anything then that seem to be pretty risky, too.. Up to you ultimately whether DCA could included in your plan or if you just analyze and guess without acting?

[sterling_archer]

What are recommended books to read regarding DACing, cryptocurrency, etc. written for us cryptodummies?

[SamuelBRoberts]

(09-02-2017 10:06 AM)sterling_archer Wrote:  

What are recommended books to read regarding DACing, cryptocurrency, etc. written for us cryptodummies?

Nothing to read on DACing, literally the guide is all there is to it. If you want to read a good cryptocurrency intro "Internet of Money" is good.

(09-02-2017 09:07 AM)churros Wrote:  

I get there's been a massive spike. I'm just wondering if the ship has sailed entirey for late comers, or if a crash is expected.
Maybe nobody can answer that question.

I personally feel that Bitcoin itself is solid. Lindy's Law and Metcalfe's law have combined to make it pretty damn hard to kill. The others, ETH and alts, I am less bullish on for the long term. That's why you DCA, because if the whole thing comes crashing down around your ears you've lost much less money.

[JayJuanGee]

(09-02-2017 02:23 PM)SamuelBRoberts Wrote:  

(09-02-2017 09:07 AM)churros Wrote:  

I get there's been a massive spike. I'm just wondering if the ship has sailed entirey for late comers, or if a crash is expected.
Maybe nobody can answer that question.

I personally feel that Bitcoin itself is solid. Lindy's Law and Metcalfe's law have combined to make it pretty damn hard to kill.

First time that I recall seeing the concept of Lindy's law applied to crypto - and bitcoin specifically, but there seems to be some truth that crypto has become an evolving organism that is growing around bitcoin - and the security and strength of bitcoin is allowing for the survival and building of a lot of related crypto concepts.

Probably, there is some correctness that some of the latest bullish performance of bitcoin comes from a deeper appreciation that it would be very difficult to kill, whether by banking institutions, government and/or rogue groups.

So, even if we do not know the short term performance of bitcoin (could go to $1000 for a period of time, for example), DCA does allow for decent accumulation of bitcoin on a budget of your own choosing.

By the way, regarding books on Dollar cost averaging, I don't see any need to buy any books. If you google the term, and you read several articles on the concept, you should have a decent idea about how to employ it or maybe reading those articles (that you get through the google) might point out some actual books, if you think that would be better for your own learning style. I am confident that a large majority of investment books are going to at least have some discussion of dollar cost averaging, especially since there is considerable consensus that employing DCA is a very sound approach to any asset that you believe has decent long term prospects, and if some asset does not have long term prospects, then you would employ a different investment method to just get in and out and attempt to time your entry and exit.

[digitalconquistador]

Anyone else jump on the Walton train?

[digitalconquistador]

(09-02-2017 09:07 AM)churros Wrote:  

I get there's been a massive spike. I'm just wondering if the ship has sailed entirey for late comers, or if a crash is expected.

Maybe nobody can answer that question.

From my experience swing trading stocks since 2015, once something is hyped -- once a relatively large amount of people jump in, expecting to get rich -- it's over. Before that stage, there's a lot of FUD, even with those who have invested with strong conviction. That's the time to act.

This sometimes reverses. For example, no one was talking about $AMD back in 2015 or early 2016. Then it mooned and it was all investors were talking about. Then it fell and anyone who bought in at $15 lost big. Then the hype cooled. Everyone forgot about it. Moved on. But for those who didn't, they would have seen that the recently released Threadripper is actually a pretty good deal for the price. I saw 65% gains on $13.50 calls I placed a few days ago after researching that CPU and wondering why no one was talking about it. But I'd forgotten about $HIMX which recently mooned even more, so...

Anyway, following that logic, maybe Bitcoin isn't currently the best crypto for huge gains, but something like Waltonchain, which is gaining hype but still has a lot of FUD. I'm up ~100% or so on that. And if/when Bitcoin crashes again, and everyone's saying Bitcoin is doomed, jump in. Of course, some experts seem to think Bitcoin is going to hit $500,000+. I'm very skeptical of that, but maybe it will. If it does, then we're going to see "cryptobarons" like the oil barons of old, and Satoshi could easily become the richest man in the world.

[NewDayNewFace]

For the DACer out there. The market is at a pullback so I'd suggest doing your DAC today.

[SamuelBRoberts]

(09-03-2017 12:15 AM)digitalconquistador Wrote:  

Anyway, following that logic, maybe Bitcoin isn't currently the best crypto for huge gains, but something like Waltonchain, which is gaining hype but still has a lot of FUD. I'm up ~100% or so on that. And if/when Bitcoin crashes again, and everyone's saying Bitcoin is doomed, jump in. Of course, some experts seem to think Bitcoin is going to hit $500,000+. I'm very skeptical of that, but maybe it will. If it does, then we're going to see "cryptobarons" like the oil barons of old, and Satoshi could easily become the richest man in the world.

You can definitely make more money playing with Alts than BTC. No argument there. It's pretty hard, though.

[kbell]

I finally got this to work. Had to use my debit card which still allowed weekly buys. An account only version did not seem to want to work. If I attempted to sync up the accounts 3 times it actually shut down my bank account. That was a mess.

[SamuelBRoberts]

Did anybody do this when I suggested it?
Are you happy that you did?

[PUA_Rachacha]

(10-12-2017 05:17 PM)SamuelBRoberts Wrote:  

Did anybody do this when I suggested it?
Are you happy that you did?

Hey SBR,

I've set up my Coinbase, and see that I can set up recurring transactions for BTC. However, Coinbase also shows Ethereum and Litecoin on their Dashboard. But Coinbase doesn't allow you to set up recurring purchases for those currencies, correct?

[SamuelBRoberts]

No idea!

[doc holliday]

(10-12-2017 05:17 PM)SamuelBRoberts Wrote:  

Did anybody do this when I suggested it?
Are you happy that you did?

Yes, I started DCAing a month ago into BTC and I'm very happy. Going to continue to do so over the next year or so. Thanks again for a great thread.

[kbell]

Should you store the bitcoins you buy somewhere else rather than on the coinbase app or wherever it stored?

[NewDayNewFace]

Don't store your coins on exchanges. Use a wallet. You can go and use Exodus.io which I think is a pretty good free wallet.

I use a hardware wallet (Ledger Nanos or Trezor) because I have well into the 6 figures and don't play with my money. Hardware wallet costs money. But if your willing to invest in sure your willing to invest in the safest storage method.

[randomA]

Is there any sense to start DACing and enter the game now?

[SamuelBRoberts]

Go for it.

[SamuelBRoberts]

(08-08-2017 04:15 PM)churros Wrote:  

Sorry for the newb question. But if is value of bitcoin is this high, why is it still a good time to invest?

Quality memories.

[JayJuanGee]

(12-13-2017 12:33 AM)randomA Wrote:  

Is there any sense to start DACing and enter the game now?

Part of the rationale behind Dollar cost average investing is that you are not trying to guess the short term price of the asset (btc in this case); however, you assume that in the long run (whether that is 1 year, 5 years or 10 years) that the asset that you are investing in is going to be worth more, and that by dollar cost averaging into it, even if the price goes down in the short term, your continued dollar cost averaging into it is going to bring down your average price per bitcoin, and therefore when the price finally does go back up (assuming that it will and assuming that in the long term it is a good investment), then you are more likely to be in the black at that point, and potentially with decent profits because you are investing small amounts over a longer period of time, and building up your accumulated amount of BTC without attempting to predict short term price movements.

So in other words, "go for it", like sam said.

[churros]

(12-13-2017 12:43 AM)SamuelBRoberts Wrote:  

(08-08-2017 04:15 PM)churros Wrote:  

Sorry for the newb question. But if is value of bitcoin is this high, why is it still a good time to invest?

Quality memories.

If I had the balls to go all in then, I'd be a rich man.

But as you can see I didn't know any better.