Quote:
Originally Posted by Jewish Rabbi
So you’re admitting you don’t know what the hell you’re talking about?
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do I myself formulate the data, no. I read and go off the professional traders and analysisya on cointelegraph when I’ve made choices in crypto’s in the past. If you haven’t read them, you should.
I know more than some but don’t pretend for a second that I know everything about crypto currencies.
What I understand and believe to be true:
Bitcoin is the first global digital currency ever mass adopted throughout the globe. There are 21m total coins and the system is built so it’s able to track everything from every coin and it’s fully transparent so basically anyone can track the history of each one and not through a central form of storage. It’s able to be traded quickly and easily from anywhere to anywhere.
Everything in the world is becoming digital and more and more technology based, while governments continue to print more and more money and are devaluing the current system of not just the US dollar, but many other currencies worldwide. Bitcoins amount being limited and available for trade worldwide creates demand. It’s also an ominous so it has massive appeal for that reason alone.
It’s truly a form of digital gold:
It has lots of use cases for the technology
It’s a store of wealth
It’s a way to transfer money from one place to another anonymously
It’s a speculative investment that can be very rewarding, but carries huge risk.
It has a chance to be exponentially more valuable depending on amount of adoption and advancement of the technology to being more of a currency than a stock.
I chose to invest into Ethereum (in the span it got up to 400 the first time and then dropped down to 150, I invested my annual bonus and all of my travel reimbursements as it went down because I believe in the technology, and still do) which is a lot more advanced in the tech end and ceiling of how much it has the potential to be upgraded... to include more and more use cases. Things like being a currency, to useage in smart contracts (something very useful as the world becomes more and more reliant on tech) to building infrastructures, to pretty much sky’s the limit.
Like I said, I don’t know everything but I do have a general understanding of what the technology can do and why it creates such a frenzy from investors of all different types.
From my understanding of how they determine buy opportunities and when to trigger stop losses is based on tons of factors such as media releases, upgrades, increased adoption, increased use by larger corporations and even countries, RSI levels, the level of where it corrects after runs both up and down and possibly governments getting in and out of the game...also, Wall Street traders are deep in it, too, so watching the specifics of the charts highs and lows and the patterns that form allow for making educated guesses to get in or out at the right time. Same as stocks. But far more volatile.
I originally put in 6500 and had 23.7789 ethereum in July of 2017. In January 12th 2018 I sold 10 of them @1258.26 and moved the rest to GDAX. I sold the rest when it got down to 275 a coin. 3789 was the cash out. So, all in all I made about 10k on ethereum.
I’m not rich, so that’s a nice chunk for me.