Loading ...Crypyomania : Cryptophobia
OK….Lets face it all of us who missed the mania but decided to stay on the sidelines are happy to see these things CRASH. Its Human Nature !
Sorry to the Many Goldtenters who did buy into the mania…I hope nobody got hurt too much …but I doubt it.
But lets face it many / most here had a similar thing happen in 2011 with Gold.
So….Please share your experiences on this thread regarding Cryptos .
I’ll go first….This HAD to happen …we all knew it….and here it is
Bitcoin went from $1000 to $20000 in 2 MONTHS !
Now it has Crashed or Retraced to Half of the Peak at about $10000
Don’t blink because that will change by the second
Some of the others like Ripple have gone from $3 to $1 in a few days.
Who’s buying….Who’s Holding and Who’s Jumping out the Window ? Who Sold the Top ?
I’ll go first. I was lucky. I have no idea what the future is for these things. I invested a tiny £150. When it reached £1100 a few months later I sold £300 to get double my investment back. The remaining £800 Is now down to £500. I have nothing to lose and plan to hold till it goes to zero or a million.
i got cryptosporidium in mexico for only 50 pesos 🙂
I never put anything into it. I did consider it when it was at around 6,000 but my luck I had no $ avail. A millennial I know put in $3k into it @6,000 bitcoin and at the top it was worth $10k. He took out the $3k he originally put in and flipped the remaining $7k into litecoin. It’s pathetic. He’s content on just riding it and never selling even though it’s down. 2 other people I know who never invested before put $1k each into bitcoin at around 16,000 to more than double their investment at the peak. Neither of them sold and told me they are holding on for dear life now.
Started in January 2017 with 5k. Flipped coins multiple times. Took profits some times on the way up: bought a Silver Monster Box, 10 ounces of gold, 1000 shares Alexco, 1000 Avino, 1000 Hecla and paid some medical bills for my wife. Managed to multiply my portfolio 100 times to 500k at the top (not kidding guys). After the bloadbath cut in half and now at 340k, holding on for dear life and planning to be multi millionnaire at the end of 2018 !!! Still hold all of my Phys and PM miners ! Still a goldbug ! Now a crypto goldbug !!
Great stuff Dangermouse….I had you in mind when I started this thread….thanks for you participation….incredible
….were you tempted to sell all at 20,000 ?
….what is your pain tolerance ?
….where would you bail ?
…..There must be some BIG losers in the game who came in after you…..do you know any ?
No temptation to sell since I am an Investor not a Trader. I try to choose solid coins with a unique use case and plan to hold it for the long term. I buy a deacent position and then just sit until value is reflected. My biggest winner where Ethereum (bought at 17 USD), Ripple (bought at 3 cts (I posted on this site beginning of May), Bitshares, EOS (my biggest holding for 2018 bought under 1 USD), and others like Litecoin, Civic, Basic Attention, Fun Fair, TenX, Reddcoin. My strategy is Vulcan Spock strategy. I am in for the long hawl like the PM miners ! Every time when I tried to trade I messed things up or I lost the potential for a 200 bagger (I had to buy back Bitshares at 20 times higher price). Some portfolio management: when a position gets too heavy I cut some of it (take profits to buy other assets) or reinvest in other undervalued coin. Recently participated in ENVION, a project with monthly dividend and 161% ROI the first year. My pain tolerance? I tolerate almost everything ! I did not sell when my porfolio was cut in half ! By the way: I HOLD NO BITCOIN !! (getting old, slow, expensive and becoming the Big Boy‘s Toy). Those who risk to loose are uneducated, unsavy people who trade for a quick buck). Finally I must give credit to my great friends on golftadise !! Altough they missed my calls and are too lazy to grasp the tremendous opportunity in the cryptocurrency space, they have introduced my and educated in technical analysis which works perfectly well in this new space, especially to recognize buying opportunities and low risk entry points. Thanks to you all guys !
My first post back in May (with my first TA posts): https://goldtadise.com/?p=401921
Today my drawings look more like this: https://www.tradingview.com/x/HZjYw1jw/
Wow now thats an incredible story. You dont have to tell exactly, but do you have one single strategy down pat that you keep repeating? Ive been swing trading MA crosses on the hourly, with “good” results, nothin near what you got though. I dont hold overnight either, as a way of reducing risk.
I was in ETH in the 200s and 300s. I was ok holding overnight back then. But over 500 i never held overnight for exactly this reason. Its called risk management, or at least keep a stop loss. So many people in it have no clue what that even means though.
exactly NickG….there has to be a lot of inexperienced “investors”….and we have all been there and we all KNOW what happens to them ….Every TIME
Same applies to the PM spece, as not only unexperienced, but also very experienced investors get seriously burned !
As always, thanks for your great work here Fully – you’re a star with endless energy and enthusiasm.
I don’t ‘fit’ here anymore really, as I’ve gone crypto. I got myself a wallet back in March ’17 when BTC was around $1500, and finally got serious enough to buy some in June, when it was around $2,600. Beat myself up for being ‘so slow’. But haven’t looked back since……..kept loading more money in, including selling some PM stocks, and became a net crypto millionaire early December. May not be not right now, but I’m not counting tonight.
This is a quantum change happening to the world right here and now. Maybe 1-2% 0f the population have a put some money in. If 2018 see 10% of the population put money in what will it looks like?. The folks in western nations will be slowest to the party. I saw a poll here where 75% won’t touch cryptos, so won’t waste my breathe trying to convince anyone. Price will change people’s minds – always does. When BTC is $50,000 it will suddenly be ‘worth it’ to a lot more people. We’re a strange bunch. Price begets volume… just wait and watch.
My strategy –
1. I believe the story I bought into, and won’t get shaken out by normal corrections (that’s all this is and good chartists can see it), ‘bad’ news and nay-sayer chatter.
2. Buy altcoins that have an apparently sound business case (knowing some will not execute and fail). I own a tiny amount of BTC for trading into alts. It’s just like buying shares in a junior PM explorer, except these people are developing disruptive business systems. Crickey – even the PM of Israel has said Bitcoin will replace banks. And I believe it will happen unbelievably quickly.
3. BTFD’s (buy the freakin’ dips)
4. Get out in about 1.5 years from now, before the real rationalization.
If one has to stick with gold and silver stocks, look into Spock’s crypto moves with Canamex and partners. He’s moving with the flow.
And I reckon there will be more opportunities for crocodile tears from the nay-sayers, before this correction has ended. I’ll be buyin’ 🙂
Et Tu Illusion
🙂
Great show my friend…..gotta go with your gut….I am sure it was a risk to abandon PMs for Crypto
What a ride
Abandoning PMs for the DOW is a Great ride too
PMs will be the RIDE this year apparently
keep in touch
Best
Fully
I can pitch in here.
I bought a nice position back in 2012 when price was around $5.
I used the exchange Mt Gox that in 2013-14 handled over 70% of all bitcoin transactions worldwide.
In Feb 14 Mt Gox filed for bankruptcy because of fraud.
https://en.wikipedia.org/wiki/Mt._Gox
I did not buy in again after that since the price was circa $500-600 back in Feb 2014. Hard to buy in again after you were up 100 fold.
Tough one.