Cryptocurrency - a few tips from an old hand

tmnpothead said:
So I'm trying to help a buddy of mine purchaw some bitcoin. We got the wallet set up and proof of identification and all that but keep getting an error message saying the visa card connected to his bank account will not allow the transaction. Will probably call and find out tomorrow what the deal is but does anyone know if we could just use a prepaid debit card if for some reason the bank will not allow the transaction
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should work on coinbase
 
Michaelangelo said:
should work on coinbase
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Im gonna try again after I get some sleep. I kept getting an error message on coinbase saying the card provider cant make the trasnaction and to call the number on the back of the card. but im not even sure what to ask when i call honeslty
 
SSgt Dickweed said:
In doing my own research, is there anything you suggest? I get all my "advice" from yt vloggers. I want to learn as much that is crypto related that is as close to hard science as possible. If I learn to pick/trade regular stocks or forex too the better.
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Good job doing your own research.

Sure, I've suggested plenty - just read my OP, or follow up posts.
 
https://www.cnbc.com/2018/08/08/yal...ategy-for-buying-bitcoin-ripple-ethereum.html

The paper's authors, economics professor Aleh Tsyvinski and economics Ph.D. candidate Yukun Liu, sought to "formulate and investigate potential predictors for cryptocurrency returns," according to the paper, and analyzed years worth of past price data for Bitcoin, Ripple and Ethereum. (The prices studied for bitcoin span from 2011 to 2018, while Ripple's XRP and Ethereum's ether data begins at the newer currencies' inceptions in 2012 and 2015.)

Historical data is not a guarantee for an investment's future performance, and Tsyvinski and Liu aren't giving financial advice, but their research reveals two factors that can be meaningful pricing tools for predicting bitcoin's next move.

1. The "momentum effect"

The first significant factor is momentum: The report found that if the price of bitcoin increased sharply over a week, it would be likely to continue to increase for the following week, Tsyvinski tells CNBC Make It.

"Momentum is actually something simple," he says. "If things go up, they continue to go up on average, and if things go down, they continue to go down," at least in the short run. Momentum has been documented in mainstream assets like stocks, bonds and currencies, and Tsyvinski says the pattern holds true in cryptocurrencies.

In fact, the best historical strategy would have been to buy bitcoin after its price already had a sharp increase — 20 percent in a single week — and sell just seven days after buying, Tsyvinski and Liu concluded.

Following that strategy, "the investor would have made an 11 percent [return] during the periods we looked at," Tsyvinski explains. The momentum effect was stronger for bitcoin than for ether or XRP, although still statistically significant, according to the report.

2. The "investor attention effect"

Second, Tsyvinski and Liu found the amount of interest and hype around cryptocurrencies, measured by investors searching and posting online, was a significant predictor of price movements.

Looking at analysis of searches on Google for bitcoin, the report concludes, "for weekly returns, the Google search proxy statistically significantly predicts 1-week and 2-week ahead returns." That means more searching online about bitcoin was a leading indicator that the price of bitcoin would increase in the coming weeks.

For Ripple, "the Google search proxy statistically significantly predicts 1-week ahead returns," and for Ethereum, "the Google search proxy statistically significantly predicts 1-week, 3-week, and 6-week ahead returns."
 
SSgt Dickweed said:
https://www.cnbc.com/2018/08/08/yal...ategy-for-buying-bitcoin-ripple-ethereum.html

The paper's authors, economics professor Aleh Tsyvinski and economics Ph.D. candidate Yukun Liu, sought to "formulate and investigate potential predictors for cryptocurrency returns," according to the paper, and analyzed years worth of past price data for Bitcoin, Ripple and Ethereum. (The prices studied for bitcoin span from 2011 to 2018, while Ripple's XRP and Ethereum's ether data begins at the newer currencies' inceptions in 2012 and 2015.)

Historical data is not a guarantee for an investment's future performance, and Tsyvinski and Liu aren't giving financial advice, but their research reveals two factors that can be meaningful pricing tools for predicting bitcoin's next move.

1. The "momentum effect"

The first significant factor is momentum: The report found that if the price of bitcoin increased sharply over a week, it would be likely to continue to increase for the following week, Tsyvinski tells CNBC Make It.

"Momentum is actually something simple," he says. "If things go up, they continue to go up on average, and if things go down, they continue to go down," at least in the short run. Momentum has been documented in mainstream assets like stocks, bonds and currencies, and Tsyvinski says the pattern holds true in cryptocurrencies.

In fact, the best historical strategy would have been to buy bitcoin after its price already had a sharp increase — 20 percent in a single week — and sell just seven days after buying, Tsyvinski and Liu concluded.

Following that strategy, "the investor would have made an 11 percent [return] during the periods we looked at," Tsyvinski explains. The momentum effect was stronger for bitcoin than for ether or XRP, although still statistically significant, according to the report.

2. The "investor attention effect"

Second, Tsyvinski and Liu found the amount of interest and hype around cryptocurrencies, measured by investors searching and posting online, was a significant predictor of price movements.

Looking at analysis of searches on Google for bitcoin, the report concludes, "for weekly returns, the Google search proxy statistically significantly predicts 1-week and 2-week ahead returns." That means more searching online about bitcoin was a leading indicator that the price of bitcoin would increase in the coming weeks.

For Ripple, "the Google search proxy statistically significantly predicts 1-week ahead returns," and for Ethereum, "the Google search proxy statistically significantly predicts 1-week, 3-week, and 6-week ahead returns."
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<mma4>
 
Looks like Overstock.com is going hard in the paint on Crypto...

"Overstock is going all in on blockchain and cryptocurrencies.
Shares of Overstock surged more than 15% on Friday after the company announced an investment of almost $375 million from GSR Capital, a Hong Kong private equity firm.

Overstock wants to be more than just an also-ran in online retail. To jump-start growth, it is investing heavily in blockchain technology, the digital ledger that keeps records of transactions in virtual currencies.
The company has a cryptocurrency unit called tZERO as well as a subsidiary named Medici Ventures that invests in blockchain companies."

https://www.msn.com/en-us/finance/n...its-basically-a-crypto-company-now/ar-BBLKW6u
 
I've said it before and you can't say it too many times... Don't ever invest more than you can afford to lose.

"Twitter is also filled with complaints, like the one from a user named @Notsofrugaljoey, who wrote: “It’s really hard to stomach losing all my hard earned money. Just broke down and cried.”

On Reddit, a user in the United Arab Emirates posted a picture of the $100,000 loan that he had taken out in December to buy cryptocurrencies — and that he will now be paying back out of his salary for the next three years.

Mr. Roberts, the British investor who has seen most of his $23,000 vanish, is holding on to his coins in case they turn around. But for now he has stopped trading and is looking for another job.

“I’m living off the little savings I have left still in my bank account,” Mr. Roberts said. “I’ve made a mistake, and now I’m going to have to unfortunately pay the cost for the next few years.”

https://www.nytimes.com/2018/08/20/technology/cryptocurrency-investor-losses.html

If you're taking out loans and dumping ALL of your savings into ANY market investment...

You're doing it wrong.
 
Strychnine said:
I've said it before and you can't say it too many times... Don't ever invest more than you can afford to lose.

"Twitter is also filled with complaints, like the one from a user named @Notsofrugaljoey, who wrote: “It’s really hard to stomach losing all my hard earned money. Just broke down and cried.”

On Reddit, a user in the United Arab Emirates posted a picture of the $100,000 loan that he had taken out in December to buy cryptocurrencies — and that he will now be paying back out of his salary for the next three years.

Mr. Roberts, the British investor who has seen most of his $23,000 vanish, is holding on to his coins in case they turn around. But for now he has stopped trading and is looking for another job.

“I’m living off the little savings I have left still in my bank account,” Mr. Roberts said. “I’ve made a mistake, and now I’m going to have to unfortunately pay the cost for the next few years.”

https://www.nytimes.com/2018/08/20/technology/cryptocurrency-investor-losses.html

If you're taking out loans and dumping ALL of your savings into ANY market investment...

You're doing it wrong.
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Tulip Mania...

https://en.wikipedia.org/wiki/Extraordinary_Popular_Delusions_and_the_Madness_of_Crowds
 
Strychnine said:
I saw this report on MSNBC and it had a LOT of good points.

https://www.cnbc.com/bitcoin-boom-or-bust/

It even has Jordan Belfort (The Wolf Of Wall Street, THAT Jordan Belfort) weighing in. Good stuff all around!
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That dude doesn't know how block chain works from that interview. It's not a scam when banks themselves are opening divisions for Crypto.
 
kenetics said:
That dude doesn't know how block chain works from that interview. It's not a scam when banks themselves are opening divisions for Crypto.
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They keep saying HODL means hold on for dear life.... Know Your Meme has better research than CNBC.

It's a typo from a drunk guy during a crash saying he's just holding through it because he's probably not going to be able to time the market.
120.jpg
 
So how are these companies profits panning out? Not talking about their "share" prices. Coin prices are flat or down, and no one bumps these threads to say "xyz turned a huge profit!"

99% of these companies are an idea with no workable, or marketable product. A small office and a glitzy website.
 
Cid said:
They keep saying HODL means hold on for dear life.... Know Your Meme has better research than CNBC.

It's a typo from a drunk guy during a crash saying he's just holding through it because he's probably not going to be able to time the market.
120.jpg
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Holding and day or even swing trading can work both ways. I have 2 bitcoin. I day or swing trade one bitcoin because you never know when it will skyrocket. I hold the other one just incase I can't buy back my other bitcoin at cheaper levels.
 
ToxicShocker said:
So how are these companies profits panning out? Not talking about their "share" prices. Coin prices are flat or down, and no one bumps these threads to say "xyz turned a huge profit!"

99% of these companies are an idea with no workable, or marketable product. A small office and a glitzy website.
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Vast majority are very speculative. There are some a few that have a working product but even then most are still in trialing phases. BNB is the most profitable, good buy right now too.
 
kenetics said:
Holding and day or even swing trading can work both ways. I have 2 bitcoin. I day or swing trade one bitcoin because you never know when it will skyrocket. I hold the other one just incase I can't buy back my other bitcoin at cheaper levels.
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I dollar cost average on my favorite alts a bit with BTC. Basically it all seems to be tied to bitcoin. Bitcoin goes down, alts get really hurt, bitcoin goes up and alts often skyrocket.

So if bitcoin goes down for a couple of days I check which of my alts have been hit hardest and buy a few if it goes down again I buy a few more. With fees being really cheap and % based you can make a bunch of trades without having to worry about fees taking your money.

When bitcoin rebounds often these alts rebound too and I trade back in. Just wish I'd used btc earlier as stable option. Also wish I didn't procrastinate when VET went to .6c a few weeks ago. Was busy and didn't bother, went up 30% the next day and is 18c now.

Oh well.
 
Cid said:
I dollar cost average on my favorite alts a bit with BTC. Basically it all seems to be tied to bitcoin. Bitcoin goes down, alts get really hurt, bitcoin goes up and alts often skyrocket.

So if bitcoin goes down for a couple of days I check which of my alts have been hit hardest and buy a few if it goes down again I buy a few more. With fees being really cheap and % based you can make a bunch of trades without having to worry about fees taking your money.

When bitcoin rebounds often these alts rebound too and I trade back in. Just wish I'd used btc earlier as stable option. Also wish I didn't procrastinate when VET went to .6c a few weeks ago. Was busy and didn't bother, went up 30% the next day and is 18c now.

Oh well.
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My dodgecoins went up 150% I bbought in at .28. It went up to .70 . I made 1K off of 200$ investment. Lol.
 
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