Discussion in 'Investment and Retirement Planning' started by mrivc211, May 31, 2017.
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Invest only what you can afford to lose. This isn't meant to be a retirement plan but rather an opportunity that may not come around for another 10-15 years like the dot com bust. Ride the wave.
With the less known coins such a bitshares(which I chose because it had high daily trading volume which allows you to get out if you make a killing fast) they only allow you to buy shares by trading bitcoins. So you'd have to buy bitcoins and trade your bitcoin to their address. Try poloniex
Litecoin is over $50 right now and climbing. My hope is that it breaks $100 just like ETH. I bought ETH at $89 because I felt it could easily be between $300-500. I bought litecoin at $25. I feel it could easily be at $100-150.
I'm curious what about litecoin and ethereum makes you establish such a price target
Comparisons of other currencies. Where they were at certain dates and what happened at those dates. At the end of the day someone can explain why they bought Apple at $500 per share, but theres always going to be 10 guys lined up behind him telling him why he made a bad decision. Those same 10 guys never take risks, the same 10 guys constantly tell you about wanting to start a business outside of aviation on a 4 hour flight yet will never do anything about it. Those same ten guys will also go on the company forums and spend endless hours/days claiming they will Burn the house down if they don't get at least a 5% raise. The contract will then pass and the process starts over
What were the turning points/events that produced price movement for Litecoin and Ethereum? What other currencies are you comparing them to, BTC or fiat?
It's cool if you're just playing with the volatility and "riding the wave" we've all done it
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Because you sound like most people that suddenly care about cryptocurrencies, once they hit a new record price and make their way back into the mainstream news cycle.
I totally get it if you enjoy trading the volatility, it's easy money, just a bit disingenuous to sit there and say you have a strategy if you don't. Some people trade leveraged ETFs, others trade crypto
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if they don't put it in bitcoin they'll put it somewhere just as volatile. personality types are drawn to big gains and seem to ignore the losses, confirmation bias blah blah
bitcoin arguably has the best supply control, there's already a limit for the amount of currency to ever circulate. It's considered legal tender
Just do your own research. Do you hit up wall street guys and expect them to divulge how they make their money? I simply thought I'd give fellow pilots a tip, not to go into financial investment strategies.
I'm really happy for guys making a lot of real money trading this stuff. I think it's great. There was a guy on another board who made $500k out of $1,000 and sold, paid his taxes, and bought a condo in DC outright. Dude won the lottery! Awesome for him. Just don't pretend this is investing, it's nothing of the sort.
The US Government won't let this go mainstream. They've already shut down paying people in "$5" gold coins (valued at much more than that in real gold). There is no way to tax and track this "money", and the only source of value is what others assign to it. As soon as it loses favor it'll crash.
Don't let that stop you (and I'm sure it won't, the attraction is great) I just can't even see throwing a couple grand at it. Just me though. It would be neat to buy a new car for $1,000 .
The underlying technology of blockchain currency is solid. It's the future of transactions. However it's the technology that is valuable, not "currency" that uses it right now. IMO.
noobie Q - whats the best way to buy litecoin?
sign up at coinbase.com
it will walk you thru how to link up your bank account. Then its the same process as using scottrade to buy stocks.
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