all tapped out

[Rusty40]

I have bought up several coins during the dip and now just sitting back waiting for the recovery. I added on a few I already had just so I can get initial investment back sooner was in xvg at .01420 and added at .0620 so if I can get it to 1400 I can cash out half and still have orginial investment free money and I feel that will happen.


Good Investments everyone

Rusty

 

[Bombs]

I have bought up several coins during the dip and now just sitting back waiting for the recovery. I added on a few I already had just so I can get initial investment back sooner was in xvg at .01420 and added at .0620 so if I can get it to 1400 I can cash out half and still have orginial investment free money and I feel that will happen.


Good Investments everyone

Rusty

Stop.

Thinking.

In.

Terms.

Of.

USD.

You think XVG is hitting 2k sats this year? That's really the question you have to ask yourself. There are legitimate concerns that it is straight up vaporware. If it is, it will need 50k BTC to hit 14 cents. In which case you will have lost your shirt.

There is a ton of real competition in the privacy coin market. I can understand a small speculative play on XVG, but in terms of fundamentals or actual project, its basically been a dud. Lots of questions about it - could be good or bad - but I wouldn't have a huge play there.

 

[yyz]

Stop.

Thinking.

In.

Terms

Of.

USD.

Well, don't you use dollars to buy the stuff?

 

[Bombs]

Well, don't you use dollars to buy the stuff?

That?s not the point.

The point is if you want to invest in crypto you can just buy btc. All these shitcoin alts can make you some btc if you play it right but it?s not easy. If you lose btc then owning all these alts cost you btc.

Alts are not btc. Most are shitcoins that will have one peak and then trundle off. Many will go to zero. They are not btc replacements.

 

[Bombs]

Well, don't you use dollars to buy the stuff?

And if you want dollars to ?buy stuff? you will exchange your btc for them.

 

[Trampled Underfoot]

And if you want dollars to ?buy stuff? you will exchange your btc for them.

Soon you will use MTL to "buy stuff."

 

[Bombs]

Soon you will use MTL to "buy stuff."

Yes. You can already use many of these to buy stuff.

But the value is against btc. If btc crashes these crash worse.

You are straight up doing it wrong trying to beat the dollar. You need to use the alt market cycle to stack the btc. Then take the usd from there as needed.

 

[BobbyBlueChip]

Alts are not btc. Most are shitcoins that will have one peak and then trundle off. Many will go to zero. They are not btc replacements.

This has not been decided and assuming that has been is a dangerous way to invest.

 

[Bombs]

This has not been decided and assuming that has been is a dangerous way to invest.

Nothing has been decided. The whole thing is volatile.

But it is fact that the vast majority of alt coins will fail. There will be new ones and some will survive but not all. It is also a fact that btc drives this market. When it goes down, alts go down more. Could this change? I don?t know, but it would be a huge change. The concept of an anti-fragile store of value like btc is the exciting thing here for me.

I?m not saying don?t diversify. I have over 100 cryptos and I am only 30 percent btc. But that is a very risky position. And I don?t look at them as lotto tickets. When the market cycle happens and profits come, profits are taken. If you didn?t take your profits in December to btc then you lost btc and fiat - plain and simple.

Look at the charts for basically any alt coIn vs btc. Rapid market cycles. Beating btc over the long run has historically been difficult. Perhaps this is easier in the future with a robust derivatives market checking in btc but that derivatives market will ultimately extend to alt coins and when it does, investing in them will become increasingly difficult.

There is absolutely no free lunch here. And investing in projects that are trash or possibly trash (and there are a ton of those) is the way to lose your bitcoin or, if you prefer USD.

 

[Bombs]

This has not been decided and assuming that has been is a dangerous way to invest.

I guess my point is all of these have a ton of downside risk and individual alts imo have more.

This thread started with someone saying he ?feels? xvg will go to 1400. On what basis is that feeling? Hype? Fundamentals? Inside info to the project?

I would say there is just as much a chance it goes to less than 100 sats as it goes to 2000 sats. At this point it?s largely a failed project that got wacky pumped out of the box - something that happens with a lot of these. I bought at 200 and sold at various levels from 2000 down. Am I done with xvg forever? Who knows. But at this point, anyone buying it is purely speculating.

 

[BobbyBlueChip]

I guess my point is all of these have a ton of downside risk and individual alts imo have more.

This thread started with someone saying he ?feels? xvg will go to 1400. On what basis is that feeling? Hype? Fundamentals? Inside info to the project?

I would say there is just as much a chance it goes to less than 100 sats as it goes to 2000 sats. At this point it?s largely a failed project that got wacky pumped out of the box - something that happens with a lot of these. I bought at 200 and sold at various levels from 2000 down. Am I done with xvg forever? Who knows. But at this point, anyone buying it is purely speculating.

I understand. I just don?t hold that much respect for btc. It?s utility is lower than just about every other coin I own, it takes forever to transfer let alone spend. and it?s store of value utility only works if it?s the king. And that?s not certain. Definitely need to hold some btc but its just as risky as anything else IMO.

 

[Jaxx]

Bombs is right. Sounds simple but
Buy low. Sell high. Take profit to BTC and Fiat. Reinvest back at the bottom.
It took me 2 cycles in the last 15 months understand this. You cannot just buy and Hodl or you are missing out on profit. I sold 80% of my portfolio to fiat after this last runup and am now slowing buying back in. I am no expert but this seems the best way to maximize profits. When will the next big pump come? My guess is May. Hopefully sooner maybe later but it will come!

:0008

 

[Trampled Underfoot]

Bombs is right. Sounds simple but
Buy low. Sell high. Take profit to BTC and Fiat. Reinvest back at the bottom.
It took me 2 cycles in the last 15 months understand this. You cannot just buy and Hodl or you are missing out on profit. I sold 80% of my portfolio to fiat after this last runup and am now slowing buying back in. I am no expert but this seems the best way to maximize profits. When will the next big pump come? My guess is May. Hopefully sooner maybe later but it will come!

:0008

Jaxx, is there some place you store your fiat that you can convert to BTC quickly? I would love to move money from alt coin to BTC to fiat and then leave it there ready to pounce when I want to buy. My point is why move money from my alts to BTC when the move in unison so often. I would rather move to fiat and wait for a crash when both alts and BTC go down then quickly move in to buy. This is BS that it takes 5 days to move from fiat to BTC. I leave some in Gemini right now but am not liking the idea of leaving large sums of fiat on an exchange. If anything I would love to spread it out if there are other places like Gemini you guys like.

 

[GoDawgs10]

I understand. I just don?t hold that much respect for btc. It?s utility is lower than just about every other coin I own, it takes forever to transfer let alone spend. and it?s store of value utility only works if it?s the king. And that?s not certain. Definitely need to hold some btc but its just as risky as anything else IMO.

When was the last time you sent BTC? It really doesn't take that long anymore. I see people complain about this often but transactions take only a few minutes these days...

 

[Bombs]

When was the last time you sent BTC? It really doesn't take that long anymore. I see people complain about this often but transactions take only a few minutes these days...

Actually they are near instant. Mem pool clear.

 

[MadJack]

Jaxx, is there some place you store your fiat that you can convert to BTC quickly? I would love to move money from alt coin to BTC to fiat and then leave it there ready to pounce when I want to buy. My point is why move money from my alts to BTC when the move in unison so often. I would rather move to fiat and wait for a crash when both alts and BTC go down then quickly move in to buy. This is BS that it takes 5 days to move from fiat to BTC. I leave some in Gemini right now but am not liking the idea of leaving large sums of fiat on an exchange. If anything I would love to spread it out if there are other places like Gemini you guys like.

I didn't read you whole post because I'm sick but coinbase has a USD vault you can store USD and then buy instantly.

 

[Trampled Underfoot]

I didn't read you whole post because I'm sick but coinbase has a USD vault you can store USD and then buy instantly.

I forgot about coinbase. I never use that place. But that is two now. Anyone know any others?

 

[Jaxx]

I forgot about coinbase. I never use that place. But that is two now. Anyone know any others?

TU I have used the Coinbase cash wallet in the short term but no I sold it to my bank account.
Yes and it does suck waiting to get it back in the game. I have used the instant credit card option in the past but Coinbase/banks shut that down. I have two buys I am waiting on right now through Coinbase. Only 4 more days and it will be available. Arrg! But as I mentioned I am slowly getting more of my funds back in. Basically left in the base amount I had in there before the last pump.
GL

 

[Trampled Underfoot]

TU I have used the Coinbase cash wallet in the short term but no I sold it to my bank account.
Yes and it does suck waiting to get it back in the game. I have used the instant credit card option in the past but Coinbase/banks shut that down. I have two buys I am waiting on right now through Coinbase. Only 4 more days and it will be available. Arrg! But as I mentioned I am slowly getting more of my funds back in. Basically left in the base amount I had in there before the last pump.
GL

Thanks. I'm going to have to get this set up and just keep fiat in both Gemini and Coinbase next time. Takes too long to get money where you want it when the market bottoms out.