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Any Crypto aficionados here?


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#41 Salty117

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Posted 02 November 2021 - 08:53 AM

If you have the capital to play with, why not employ bots to do all your buying and selling for you 24/7, this works whether bear or bull. I was doing the same as everyone else, trying to dca, trying to buy at dips and sell at peaks, and never seemed to gain much or couldn't never time the market right.
Now though, my bots are making me money all the time, 24/7 while I do absolutely nothing, especially not watching the market all day long every day. This though is not a get rich quick or waiting to hit a moon shot plan, those never work out. It is nice and steady.

 

Are you using the trading bots offered by KuCoin? I have been thinking about looking into those but I have read that if you don't set the parameters right on the asset you're employing them to trade for you that it can lose you money


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#42 Neptunechild

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Posted 02 November 2021 - 09:20 AM

 

 

I don't know what's the better call for you right now i.e buy in more now or wait for a bearmarket.

 

I'm still new to crypto and to standard investing, but if you really think crypto is here to stay; and the price will be much higher than it is now at some point; and you have a time horizon of years, you could continue dollar-cost-average into it by buying at regular intervals as the price declines.  That way you would be sure to capture the benefits of any bear market.  You would just have to have the stones to keep buying as the price declines, so if you do this you better have conviction that the price will come back up and push even higher.  For a lot of people, crypto may be too speculative for this practice.  This would help you avoid trying to time the market and possibly getting it wrong.

 

That said, if I already had enough to retire on, I'd probably pull most of it out of crypto now.  Safety first.

 

This is not financial advice and I have no idea whether it's a good idea or not.  I started learning about investing like a month ago.  Do whatever you want.  :biggrin:

 

Ethereum is gonna be the financial layer of the world, so i'm dca'in  :meditate:


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#43 Neptunechild

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Posted 02 November 2021 - 12:13 PM

If you have the capital to play with, why not employ bots to do all your buying and selling for you 24/7, this works whether bear or bull. I was doing the same as everyone else, trying to dca, trying to buy at dips and sell at peaks, and never seemed to gain much or couldn't never time the market right.
Now though, my bots are making me money all the time, 24/7 while I do absolutely nothing, especially not watching the market all day long every day. This though is not a get rich quick or waiting to hit a moon shot plan, those never work out. It is nice and steady

I'm not a trader so I thought about bots too just to have some exposure to it as a passive income.

 

I bought into 3Commas. It's a nice site and the trial is for free. Memberships are cheap aswell imo considering the money the bots can make for you.

I have an account there and you simply input your API's for the exchanges you are on and then set all the parameters for the bots and let it run.

 

I thought about using them in the bearmarket as automated short sellers too :) !


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#44 Micogi

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Posted 02 November 2021 - 05:22 PM

I'm no aficionado by any means but a dabbler for sure. I'd bought and sold some in the past and currently have some BTC and ETH in PayPal. I had been looking at selling there to re-buy somewheres else, but after finding I can use crypto as a payment option when checking out with PayPal decided to leave it be.

 

I opened an account with Vast Bank as it's FDIC insured, although I'm not sure if crypto is, and if the financial system takes a major shit, FDIC insured probably won't amount to shit.

 

My goal with crypto is just have a little something something outside fiat currency. I also have some physical silver.

 

Anyone doing Pi Coin? I've been mining it on my phone for awhile but my "security circle" sucks, only me and one other. Not sure if I can leave and join another, but if anyone is doing Pi and in a good circle, LMK. Hopefully it goes somewhere, but takes little to mine so what's the harm.


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#45 Mushinist

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Posted 02 November 2021 - 06:14 PM

If you have the capital to play with, why not employ bots to do all your buying and selling for you 24/7, this works whether bear or bull. I was doing the same as everyone else, trying to dca, trying to buy at dips and sell at peaks, and never seemed to gain much or couldn't never time the market right.
Now though, my bots are making me money all the time, 24/7 while I do absolutely nothing, especially not watching the market all day long every day. This though is not a get rich quick or waiting to hit a moon shot plan, those never work out. It is nice and steady.

 
Are you using the trading bots offered by KuCoin? I have been thinking about looking into those but I have read that if you don't set the parameters right on the asset you're employing them to trade for you that it can lose you money

No I am using Bitsgap bots, its very user friendly. Yes you need to know how to set them up to benefit, but they're not as scary as they seem. I run regular bots and one hodl bot. I have 3 different exchanges running through it because some offer coin pairs that the others dont etc.
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#46 TVCasualty

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Posted 05 January 2022 - 11:06 PM

Thoughts?

 

The Case Against Crypto

 

It's not very long, and he makes a strong case.


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#47 Cuboid

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Posted 06 January 2022 - 05:03 AM

That is quite convincing. I now have go away and question why I believe(d) Gold Standard was superior to Fiat Currency. I may be some time...

#48 TVCasualty

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Posted 24 March 2022 - 10:06 AM

This is ...interesting.
 

Bitcoin: El Salvador plans to make crypto-currency legal tender

 

El Salvador's President-bro is being cheered by lots of tech-bros for this move, but either most of them don't know what's up in El Salvador or they don't care and just hope to cash in on what's to come.

 

And what's to come may well be a new Golden Age of money laundering and tax avoidance. Not that there's anything wrong with that, though the worst of the worst among us tend to benefit the most from such arrangements.

 

 

I figure that either the old-school evil fuckers finally figured out how to make BTC work for their interests or El Presidente is gonna get whacked soon. I suspect the former.

 

Looks like it's not going so well, which is probably not a surprise to anyone who has ever actually tried to purchase something with Bitcoin: https://restofworld....lvador-bitcoin/

 

I have a bad feeling that the vast majority of the population of El Salvador is getting screwed here, but that El Presidente-Bro will probably make out like a bandit. Exactly like a bandit.

 

 

I would be curious to read or hear any pro-cryptocurrency or pro-NFT arguments that debunk (or even acknowledge) the facts presented and concerns raised by this long but excellent and not too technical video about crypto in general and NFTs in particular:

 

[Direct Link]

 

 



#49 FLASHINGROOSTER

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Posted 24 March 2022 - 03:14 PM

I think there can be some inherent value behind the concept of an NFT in regards to the rise in digital art and artist. In the old school art world we place so much value on an original panting, even though copies can be easily printed and look damn near the same so it feels pretty similar in that regard. Why should digital artist fail to capitalize on the value of originals if someone is willing to pay for it?

 

However NFT's and investments around them appear to be mainly used as complete bullshit gambling money scam garbage at the moment. Well according to southpark anyway, they usually seem to be on the side of the the correct guess in the long run

 

[Direct Link]

 

[Direct Link]


Edited by FLASHINGROOSTER, 24 March 2022 - 03:16 PM.


#50 TVCasualty

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Posted 24 March 2022 - 03:56 PM

I think there can be some inherent value behind the concept of an NFT in regards to the rise in digital art and artist. In the old school art world we place so much value on an original panting, even though copies can be easily printed and look damn near the same so it feels pretty similar in that regard. Why should digital artist fail to capitalize on the value of originals if someone is willing to pay for it?

 

However NFT's and investments around them appear to be mainly used as complete bullshit gambling money scam garbage at the moment. Well according to southpark anyway, they usually seem to be on the side of the the correct guess in the long run

 

Based on the amount of art that is being stolen via NFTs, I'd argue the opposite. That is, NFTs bring negative value to artists, but pretty good value to those who steal from artists (going by the info in the video).

 

I have yet to read a convincing argument that NFTs are not a Ponzi scheme or equivalent ripoff.


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#51 Mycol

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Posted 26 March 2022 - 06:51 AM

i think these coins are just going to be left to run themselves out and then after some sort of calamity (passwords hacked, power goes out, whatever) the government will step in with their own coin. Hooray govt.
I don’t have much at all in digital coins . I prefer the physical ones so I am biased .

#52 Sidestreet

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Posted 26 March 2022 - 07:52 AM

I like physical coins and crypto.  I think part of the latter's value is the ::potential:: to be extremely portable.  I know Visa is working on the processing of crypto payments, and there are crypto credit cards out there now.  I know of a local law firm that accepts payment in cryptocurrency.  I think it will take time, but that it's headed toward better usability. 

 

Apps and institutions will have to make the tax calculations much easier for people as well.

 

As crypto is regulated, I also think that we'll end up with government-issued CBDCs.  Central Bank Digital Currencies.  To make a physical coin analogy, I see the current crop as a bunch of privately-minted bullion coins.  The CBDCs would be legal tender like your U.S. mint products.

 

Even with all of that yet to happen, this stuff still has the market value that it has today.  It's a unique commodity that is also money.  I'm betting (literally) that the price of SOME of the coins will rise quite a bit over the next several years.  Then fall off a cliff.  Then jump way higher.  Then take a dump.  Etc.


Edited by Sidestreet, 26 March 2022 - 07:53 AM.





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