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Lindeman

Buying the dip ? Smart ...or catching a falling knife?

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Just bought a few LTC in tonights dip.  Who knows if its the bottom ; in all likelihood maybe not.  But i need to do something here when the prices are all red and back to December values. It will go back to $300 , maybe in the April (hopefully 2018, not April 2020?)  

 

 

 

 

 

S

 

 

 

 

 

 

 

 

 

 

 

 

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Nice. I've not bought any in a while. Not been watching the prices too much either happy to hold till 2020 if needed, i think that is the year the block size half's again as well :) Had bought a few cloud mining contracts in maybe August so still accumulating some Dash and Zcash from that. 

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Mining contracts are something i did not get into - but I like the idea.  Mainly just HODLing through this dip / crash / correction / cryptogedonn and still up on my initial buys in summer 2017. 

Its a fun balance - spending some free time looking at coins that represented value 200 years ago (and still hold it today) and other time pouring over the speculations in crypto.  Both have attractions? 

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I’ve bought more the last few days.    Who knows how long this crash will last, but at some point it’s gonna recover then we’ll see some impressive gains!! 

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Fully agree @Lea79.  This time the boom may be more selective - with some alts rising and others exposed as just hype ( but none of us know for sure).  Trying to balance between solid coins that may nicely 2-5x (BTC, ETH, LTC, XRP, XLM, OMG, LISK) and others that may still go 20-100x ( select your favorite low cap alts here .....DENT, PRL, ADA, SUB, NAV, ARDR, ADX,INT ...).  Crash in full swing again today.  

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I think pretty much all the top 10 coins should at least double when this crash is over.  I’ve made nice low entry points in vechain and genius vision during this crash.  I’m considering making a tidy size purchase of either eth or ltc if this crash is still in full swing come nxt wk. 

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I have 8.  I’m mostly in neo, 55%, then gvt, 15%, ont which I had for free, nano, Monaco I’ve saved for the lovley card, vechain I entered this wk, coss from when I had loads and sold most of it for a hefty profit and the gas I get for free.

Most of its profit.  Only in for a few hundred that I’ve put in this wk so I’m lucky really.  It can tank and I’m still up from the profit I’ve already taken out. 

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You guys do know that you might well be dancing with the devil and leading the rest of us into a cashless 24/7 big brother 'society', (which has likely been the plan from the get-go,)  don't you?

'Free money? Hell yeah - where do I get my microchip?!!'

:wacko:

Edited by kimchi

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Lol I don’t see society ever being cash free.  It’s the only true anonymous form of currency that doesn’t require a processor to accept it.  

That said the amount of card transactions instead of cash these days is phenomenal.  We already use digital currency produced by banks on a screen.  Crypto just takes that power away from banks and puts it into the hand of the individual. 

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I have a problem with crypto and this is not a reflection on anyone on this forum, whom I hold with the utmost regard.

Simply this. Cryptos are a clever solution but they are being used by simple people who don't understand what they are doing.

I refer to Joe and Josie Bloggs esq. from 22 Acacia Avenue.

The Bloggs live in a new build on a modern estate. The mortgage is high to their salary but whilst the rates are low, it's manageable.

They have two cars, both on finance, and will exchange them next year.

They owe a lot on their credit cards but are making a conscious effort to pay more than the minimum payment.

The discover crypto! They dabble and make a tidy profit. They are 'promised' a 50,000% gain!

Mr Bloggs starts to look at fast cars, Mrs Bloggs looks at extensions and feels rather broody.

Cryptos are rising, their profits are fantastic! 

Should they cash it in, pay off the credit cards? Pay a bit off the mortgage? Start an ISA?

Or buy a new car, big screen TV, holiday in the sun?

Or borrow more on their credit card and buy more crypto?

 

 

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41 minutes ago, kimchi said:

You guys do know that you might well be dancing with the devil and leading the rest of us into a cashless 24/7 big brother 'society', (which has likely been the plan from the get-go,)  don't you?

'Free money? Hell yeah - where do I get my microchip?!!'

:wacko:

Its a hard one, on one hand I'd love it if my bank card chip was for example in my hand and i never had to worry about losing it so my currency was always on/in me. Would make contactless so easy. I also don't have anything to hide so wouldn't bother me until (what i say below). 

On the other hand the side you are coming from I think there is always someone to corrupt this. Yes it will mean tracking and they will be always able to hold you to the power that they have by maybe even kicking you out the system. In theory it would be good until it is corrupted like everything :/ 

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4 minutes ago, Roy said:

I have a problem with crypto and this is not a reflection on anyone on this forum, whom I hold with the utmost regard.

Simply this. Cryptos are a clever solution but they are being used by simple people who don't understand what they are doing.

I refer to Joe and Josie Bloggs esq. from 22 Acacia Avenue.

The Bloggs live in a new build on a modern estate. The mortgage is high to their salary but whilst the rates are low, it's manageable.

They have two cars, both on finance, and will exchange them next year.

They owe a lot on their credit cards but are making a conscious effort to pay more than the minimum payment.

The discover crypto! They dabble and make a tidy profit. They are 'promised' a 50,000% gain!

Mr Bloggs starts to look at fast cars, Mrs Bloggs looks at extensions and feels rather broody.

Cryptos are rising, their profits are fantastic! 

Should they cash it in, pay off the credit cards? Pay a bit off the mortgage? Start an ISA?

Or buy a new car, big screen TV, holiday in the sun?

Or borrow more on their credit card and buy more crypto?

 

 

I agree with you Roy and it takes a while for everybody to understand this but this isn't a crypto problem. This is a real estate, gold, silver, stocks, crypto, ANYTHING problem. Its just the mentality I think when you are struggling you look for any out. You are not looking for the safe, long way to prosperity. You are looking for a quick fix. 

In my house I have been trying to show my family that having the newest car etc is a waste of time. I think it is just down to materialism that we have this problem. When its going up nobody can see the downside. 

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The blockchain ledger is independent and trust less, but it stops there - the tokens and everything that goes with them have many potential human issues just as the banking system does. Exchanges, wallet software, miners, all involve people. There is a lot of third party software that makes up the infrastructure, only the ledger can be trusted. An excel spreadsheet you can trust isn't worth a lot without the rest though. 

The free market attempt to take back control of money, I am a supporter, but so far it has failed primarily due to becoming a speculative vehicle. The market took the idea of blockchain and found a use for it in speculation, thousands of different ledgers of tokens that make various claims on the idea of money, yet rarely being used for this purpose. Thousands of flowers making claims to being the most beautiful, yet the speculative market trading those claims all look suspiciously similar. (Sorry couldn't help myself :P). If it gets much cheaper I may need to start mining again. 

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Ouch ! Be careful out there

https://www.theguardian.com/technology/2018/mar/18/cryptocurrency-bitcoin-irs-tax

 

For goodness’ sake, take care of your tax liabilities, even if you think you dont have to......the government can backdate according to the law it fell under at the time.

https://www.theguardian.com/technology/cryptocurrencies

(Disclosure - I dont own crypto anythings)

Edited by Oldun

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Bought a nice pile of NANO (ex RaiBlocks) today at just over $6. I did have some irrational FOMO last month and poorly timed some premature buys at around $12 - $13. 

I see this as the ultimate payment coin that will completely destroy LTC / BCH over the coming years. 

The plan is to accumulate dips over the coming months on just this single coin. I'm hoping to load up between 3000 to 5000 of these for a long term hold. 

Edited by C12

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I hold nano.  It is the cheapest and fastest payment coin available.  Hopefully it will take off.  You should apply for the nano iOS wallet trial.  It’s awesome ?. You should diversify though as with any investment. 

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@KDave

I totally agree with the software coming from third parties point.  Some of it is a nightmare. Exchanges have also been less than trust worthy.  Some tokens are just terrible!! Hopefully all the speculation will die down.

 There are some really good ideas being built on the blockchain.  A lot of money can be made from investing in good companies.  I see it like investing in businesses.  If their plan is good, team are up to scratch, they meet their deadlines and there is a real life purpose for the token they’re offering, then I invest.  It’s just a shame the crappy 1’s get thro.  Some people just buy into the idea of making a quick buck and the crappy tokens capitalise on that. 

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3 minutes ago, Lea79 said:

There are some really good ideas being built on the blockchain.  A lot of money can be made from investing in good companies.  I see it like investing in businesses.  If their plan is good, team are up to scratch, they meet their deadlines and there is a real life purpose for the token they’re offering, then I invest.  It’s just a shame the crappy 1’s get thro.  Some people just buy into the idea of making a quick buck and the crappy tokens capitalise on that. 

The funny thing is, most of the genuinely good purposes of blockchain technology don't need their own token to implement.  They could simply have a free blockchain with any service payments through an existing currency.  ICO have become fundraising to pay for development teams and marketing, possibly payback to early round venture funding. 

We're had another market wide bounce.  Look at Coin market cap, you'll see vast majority of graphs hit a point and bounce in unison, which doesn't make rational sense.  Whole market is being driven by speculative bot trading, we're just along for the ride. 

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19 hours ago, Lea79 said:

I hold nano.  It is the cheapest and fastest payment coin available.  Hopefully it will take off.  You should apply for the nano iOS wallet trial.  It’s awesome ?. You should diversify though as with any investment. 

It's basically a play on the idea that the lightning network is not going to succeed and there will be a huge stampede into NANO in a couple of years time. 

Looking at the other coins on your list, all very nice projects but nothing that can compete with NANO in the 'payment coin' space. I'm only interested in payment coins rather than the multi-layered projects. 

NANO does have a few issues, currently centralisation where the primary nodes are still the developer reps but this will get better over time. Also privacy is an issue but that will work in it's favour when it comes to fiat gateway.

Which brings me to the best thing about NANO. Once it gets a fiat gateway, it will become the primary coin for all inter exchange transfers. I can imagine it will then replace BTC as the primary Alt trading coin. 

Edited by C12

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Nano is perfect for arbitrage between exchanges.  The first major exchange to list it as a trading pair is gonna make a stack of cash.  It’s nice to have the  Nanex exchange but the trading volume and choice of coins is not quite there yet.  I’m my opinion its the best payment coin because of speed and it’s free.  Even with lightning network btc transactions are still not free.  

There has been some issues of late worth the bitgrail fiasco and nodes not working properly but any project is gonna have teething problems.  For me, privacy is not an issue but I understand it is for others. It’s great time to stock up with the price low atm. I got burned a little when the price dropped from the £15 mark but only a little as I sold and rebought in when the wallet came out.  It’s definatly one to watch in the crypto space in the coming mths.  

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