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<NOCOIN> crypto noob here, should I start ETH or BTC or both.
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Date: November 28th, 2017 6:09 PM Author: Lime newt really tough guy
Why havent you bought in the past?
edit: not being a dick trying to give advice eventually
(http://www.autoadmit.com/thread.php?thread_id=3811626&forum_id=7#34792480) |
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Date: November 28th, 2017 6:38 PM Author: supple genital piercing gay wizard
From reddit. I think this is good advice for a beginner:
Here is what I look at when investing in cryptocurrency
1) is the coin in the top 20? Research the coins in the top 10 first, you can’t really go wrong with projects that have huge market caps. Then check out a few from the top 20. Coins that are outside of the top 50, need time to mature, unless you’re into gambling. Ps it’s harder to pump and dump a coin with a huge market cap.
2) how long has the coin been around? There is a good chance coins that are less than a 1 month old, will 10x in a year, but there is an equal chance that they will go to zero in a year. I look for mature projects, because it provides me a sense of security. I’m not a day trader, so I need to know that when I get home from work my investment didn’t go to shit.
3) what is the purpose of the coin? Make sure you either read the white paper, or have an understanding of the tech behind your picks. Do you think the future will go toward fast micro transactions? Cheap transactions? Hidden transactions? Etc. each cryptocurrency has its own unique vision. Once you start understanding what they are, it’s a little easier to invest in something that resonates with you and others
4) what is the community like? Are people on social media raving about the coin? Or is there only one post per day on their sub. I also look at the mass media, newspapers, news stations, online news sources, what are they talking about? There is a large portion of wealthy people who don’t go on Reddit and are influenced by the media. Activity and enthusiasm is more of an indicator for day traders, but I’ve done pretty well by scoping out the communities forums and sub-Reddit’s
5) who are the developers and creators of the coin? I always make sure to visit their web site and see who these people are. What projects the worked on in the past. Do they seem legit? Are they active in the community? And do they exist? If there isn’t a person who is willing to put their face behind their project I don’t bother to put my money behind it.
6) And don’t throw all of your money into cryptocurrency at one time. Put it into cryptocurrency in small amounts to hedge your bets
Before you invest this much money, I would ask yourself a few questions... what are your goals? How much do you plan to make? What other investments are you diversified into? Are you willing to lose the money you are putting into cryptocurrency?
These are questions that should be asked before you invest this much money into something. If you have already done that, then welcome to the club and good luck.
(http://www.autoadmit.com/thread.php?thread_id=3811626&forum_id=7#34792697)
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Date: November 28th, 2017 7:29 PM Author: razzmatazz center lettuce
how crypto works:
https://bitcoin.org/bitcoin.pdf
https://github.com/ethereum/wiki/wiki/White-Paper
https://en.wikipedia.org/wiki/Public-key_cryptography
good v bad crypto:
1) start with the strong default assumption that a crypto is a scam until proven otherwise. evidence of non-scammery: developers based on developed countries (not russia, china, etc.), no aggressive self promotion through ads, people who are actually qualified to execute on what they claim, reputable crypto people involved. you want to avoid icos that offer big discounts to pre-sale participants.
2) the most important thing in pricing a crypto opportunity is simple: constricted supply relative to demand. when judging an ico, you want a low market cap/low float and a lot of people excited about the project. hype can be measured by twitter followers (make sure they're organic and not fake), number of people in slack and telegram channels, mentions on reddit/4chan/twitter/crypto news, etc.
trading crypto:
momentum over 5-15 days as measured by a simple moving average or exponential moving average is a decent guide to trading. generally you want to buy things going up and sell things going down; you don't want to bag hold. the exception is when the move downward is extremely sharp, say 15%+ in a day.
if a crypto is a shitcoin, you don't want to hold it for long. a parabolic move upward is likely a pump and dump, so it's a decent time to get out.
a recent example of the above set up is what happened to bitcoin cash. steady upward momentum, which indicated a decent buying opportunity, then a massive spike over night, which signaled a good selling opportunity.
(http://www.autoadmit.com/thread.php?thread_id=3811626&forum_id=7#34793038) |
Date: November 29th, 2017 8:23 PM Author: Up-to-no-good Bateful Windowlicker
Might as well go 50/50. Ethereum has more upside, but Bitcoin Classic has a powerful first mover advantage that continues to surprise.
Dollar cost average in over a few weeks.
(http://www.autoadmit.com/thread.php?thread_id=3811626&forum_id=7#34801898) |
Date: December 6th, 2017 4:18 PM Author: chestnut becky
I'm in the same position, bought (a small amount: a few thousand) into crypto finally (equal amounts BTC, LTC, and ETH) in the middle of November. So, I guess, substantially up since then.
What now? HODL? Dollar-cost-average more in? Buy more of the ones that have increased less (LTC, ETH) and less of the one that has increased more (BTC)?
(http://www.autoadmit.com/thread.php?thread_id=3811626&forum_id=7#34854969) |
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