Jiggmin's Village

Any investors here? How has the market been treating you guys recently, and what have your returns been like? What are you invested in?

I've had about 3x returns over the past 2 months and initially bought into Bitcoin in late 2014 when it was trading in the mid $300s but unfortunately I lost my wallet for it, which is now worth several thousand dollars at current prices.

I actually just sold all of my bitcoin and invested in Litecoin, Bitcoin Cash, and Etherium. May have been a stupid move, but I'm really not that comfortable with bitcoin dropping 20% in one day, especially after having been on a downward trend.

I made about $375 off the sale and I invested $50, $50, and $100 in Litecoin, Etherium, and Bitcoin Cash respectively.

The sort of volatility you saw yesterday happens all the time in the crypto market. One day in crypto is like a year in the traditional stock market in terms of percentage gains and losses.

I've been investing for 7-8 months and the returns are ridiculously unrealistic. I hold 25% ethereum 25% monero and the rest is split up between smaller cryptocurrencies. I'm super happy today because some of the smaller cryptos ones have done amazingly well (ENG, SUB and PHR). Very risky investment be careful!

Before investing you should probably know that bitcoin (and pretty much every cryptocurrency, for that matter) have no well-defined entity backing the value. It makes the value extremely unstable. The anonymity of the transactions makes it difficult to prove any given value of a bitcoin. As such, the value is determined by how much people are willing to pay for it--essentially community hype. As soon as attention fades, the prices will fall.

To increase the value, just make propaganda!

The US dollar isn't backed by anything either (no, not gold), yet it seems to hold pretty well. Currency has a value because people take it for that value; cryptocurrencies are no different. If people stop wanting them, they will drop.

I don't think people are understanding what the full potential and intent is of cryptocurrency. It's so people no longer have to be slaves to the banks and pay a third party in order to give someone else money.
Example:
My hypothetical son get stuck in Germany and doesn't have enough money to get a plane ride home. I go to my wallet and send him X amount of money right to him. No transaction fee of USD to Euro, no time gap between the transaction because of laggy third party, just a simple peer to peer network.

The problem that i see and have seen even before becoming fully invested in cryptocurrency, is that people are looking and playing it like the stock market and going in just for some quick easy cash. Bitcoin has dropped before from the thousands down to about 7-6 hundred before and no one cared because they knew it would go back up when more people became aware of it. This isn't a short term thing, this is for the long run to completely negate the banks and government from ****ing you over on your own dime.
Another thing people may not know and hopefully this will shed some light on cryptocurrency, mostly Bitcoin, is that when the stock dropped its because everyone was selling at that is either a good or bad thing depending on who you are. There are people called "Bullers" who wait for people to sell and the stock drop so that way they buy everything up for a cheaper prize.
Example:
Say Bitcoin drops from 18k down to 6k. Now those "Bullers" will buy say, 20 Bitcoin. Now with these "Bullers" buying up all the sold Bitcoin, the value goes right back up.
20 Bitcoin =  120k investment
Now Bitcoin goes up to 12k. That person just made all their money back.
120k investment = break even
Now Bitcoin goes back up to 18k.
120k investment = 120k return
Now these people will either keep the Bitcoin they earned or start selling. This will plummet down the market again and they will again buy the bitcoin at a cheaper prize. Rinse and repeat. (Sometimes and some people (Only if you have the money))

P.S Do no invest in Ripple as it is connected to the banks.

(28th December 2017, 1:50 AM)aaaaaa123456789 Wrote: [ -> ]The US dollar isn't backed by anything either (no, not gold), yet it seems to hold pretty well. Currency has a value because people take it for that value; cryptocurrencies are no different. If people stop wanting them, they will drop.

Cryptocurrency is backed by everyones money not just a word.

(26th December 2017, 1:35 AM)thefleebs Wrote: [ -> ]Before investing you should probably know that bitcoin (and pretty much every cryptocurrency, for that matter) have no well-defined entity backing the value. It makes the value extremely unstable. The anonymity of the transactions makes it difficult to prove any given value of a bitcoin. As such, the value is determined by how much people are willing to pay for it--essentially community hype. As soon as attention fades, the prices will fall.

To increase the value, just make propaganda!

In order for that to be true, Bitcoin would have to be owned by someone which it isn't. Bitcoin is backed by everyones money because people are investing money into it. If i buy $10 of bitcoin, it is distributed evenly across everyone who has bitcoin and future mined bitcoin.

BTW, Ripple might be skyrocketing but it is very untrustworthy (In my opinion). Maybe I'm wrong but it's shady how they were 20 cents a couple weeks ago and now they skyrocketed to $2.40. I think banks defiantly have something to do with this, considering Ripple is partnered with 11 of the top 100 banks in the world and is now working on a deal with Visa.

(29th December 2017, 2:30 AM)Ryeiysku Wrote: [ -> ]Cryptocurrency is backed by everyones money not just a word.

That's not a backing; that's market value. Market value can fluctuate. It can also drop to nothing very quickly.
In 1946, the (unbacked) Hungarian currency dropped in value so fast in two months, that all the money in circulation in the country was worth 30 cents of a dollar at the end of that period.

(4th January 2018, 12:17 PM)David Wrote: [ -> ]DigiByte up over 60%, had $430 yesterday now im at $690. Only a matter of time before it reaches $1 (currently at around 10 cents), once the iOS wallet releases there should be another large increase. DGB is a good investment

Where do you buy DigiByte?

Is this all Trading 202?

I would not recommend Bytecoin for anyone, there was huge cryptonote exploit that let you generate infinite amount of coins on your own will. Someone could flood the market and it would dip hard.

EDIT: It was only abused on bytecoin and you can find them on blockchain. I'm not sure did they make anything to rollback them. It has been months by now.

EDIT 2: Source https://getmonero.org/2017/05/17/disclos...ncies.html

I Invested 14,000,000 in bitcoin yesterday but now I owe a lot of money to the government help

(5th January 2018, 5:54 PM)David Wrote: [ -> ]Meanwhile...

I was actually speaking about long term investing. Quick daily trades just before pump are always easy way to make quick profit

(5th January 2018, 6:59 PM)David Wrote: [ -> ]You say that as if everyone knows when a crypto is going to be pumped

You can usually tell because they break the top 100 and are barely worth anything.

Up 5x my initial investment at the time of writing this only after a month.

(11th January 2018, 12:33 AM)David Wrote: [ -> ]Crypto on sale! due to major South Korean cryptocurrency exchanges being raided by police and tax officials a lot of crytpocurrencies have dropped in value. Now's a good time to pick up some crypto (You may see some news stating a potential ban on cryptocurrency in south korea but thats not true, they are only looking to regulate it, lots of tax evasion has been going on)

Does this affect the mainstream cryptos?

yes they get affected since koreans are a huge part of all traders