MISC Crypto Crew (MCC) Vol 8: Running a Tron on Linda

[yuja]

OG thread: https://forum.bodybuilding.com/showt...hp?t=173249701

Vol. 1: https://forum.bodybuilding.com/showt...hp?t=174270261

Vol. 2: https://forum.bodybuilding.com/showt...hp?t=174590131

Vol. 3: https://forum.bodybuilding.com/showt...hp?t=174863441

Vol. 4: https://forum.bodybuilding.com/showt...hp?t=175032101

Vol. 5: https://forum.bodybuilding.com/showt...hp?t=175123511

Vol. 6: https://forum.bodybuilding.com/showt...hp?t=175167371

Vol. 7: https://forum.bodybuilding.com/showt...hp?t=175210891




Introduction to Cryptocurrency

The two "big" Crypto's are Bitcoin (the OG) and Ethereum (ETH). There are hundreds, maybe even thousands of other coins but all flow through ETH/BTC (mostly BTC). As a trader you will mostly be trading your $$ into Bitcoin to invest in these other coins.

Bitcoin - Bitcoin Summary

Ethereum -
Ethereum for Everyone
Beginner's Guide to ETH


Where do I go if I want to get in on this???

The only ways to buy bitcoin/ethereum with your dollars are through these things called exchanges.

Examples of exchanges:

(Dollars -> BTC/ETH)

Coinbase - most newb friendly/high fees. You can buy Bitcoins and Ethereum here with your dollars.

~~~RECOMMENDED EXCHANGES (for US brahs)~~~

GDAX - owned by Coinbase. Lower fees. Cons - requires a SSN which not everyone is comfortable with

Gemini - low fees, nice interface. Cons - Takes time to get verified so you can make deposits

------------------------------------------------------------------------------

Canadian brahs use
QuadrigaCX

from these above exchanges, you can take your dollars and convert them to Ethereum or Bitcoins. Now..you could just hold these coins and be happy, or you could explore into the world of alt coins.

Australian brahs use these to put FIAT into crypto
www.coinspot.com.au (you pay a premium but you also sell at a premium on this exchange so it’s ok)

www.btcmarkets.net

Or you can use coinbase (you can buy here but you can’t sell)

(BTC -> alt coins)

Binance

KuCoin

Bittrex


Common Terminology Used

Glossary of terms

Useful links

Coin Market Cap - Basically an index of all coins with how much volume is being traded, price, %change, market cap, and also has a tab where you can see exactly which exchanges any particular coin is being traded on. HIGHLY RECOMMENDED

Bitcointalk - large gathering of coin talk

CryptoWatch - Price tracker for coins

Ethtrader subreddit - Home of all the ETH bag holders. Good discussions there

/r/CryptoCurrency - Random discussions about random cryptos here

http://www.coindesk.com - Overview of what's going on in the crypto world

http://cryptopanic.com - An aggregator of various crypto sites and news, filterable. I use the pro version to customize the feeds but the free version is good enough for most.

http://cryptomaps.org - Visualization of price across different segments, primarily hashing functions and ICO release dates

http://onchainfx.com - A better version of coin market cap, has all sort of columns and you can add flags. Only downside is it only has 61 cryptos, but its always adding news ones.

http://icotracker.net - I like this site for looking at what ICO are coming up

http://icobench.com - Another ICO tracker which does nice summaries, shows teams, milestones, financials and gives a rating for each ICO

http://solume.io - compares the number of Twitter mention increase decrease to price

http://eveningstar.io - this is basically like Morning Star except for cryptos

https://bitcoin.tax - for calculating taxes owed on your crypto gains


Great, I've got my coins now. HOW DO I KEEP MYSELF SECURE???

General security tips

Also consider getting a Nano Ledger/off-exchange wallet

[General investing tips]

1) Don't have more than 5-10% of your entire investment portfolio in crypto, and only invest what you can afford to have locked in for the long term.

2) Don't chase a pump

Never buy on rapid upswing on the candlestick chart if you're not sure why it happened and can't figure it out. The reason is likely that it is a Pnd. PnD is "Pump and dump" and it refers to a trading scam where people organize to coordinate the laddered purchase of an asset, then wait for others to come in at some delay and further increase the price before coordinating the unloading of their position once a specific price target is reached. This is illegal in the stock markets, but since cryptomarkets are unregulated such schemes are rampant. There are many PnD groups and today they are largely organized on Discord channels. They are now structured into tiers where the top tiers get a signal earlier than the bottom tiers and usually by the time the bottom tiers get the signal its too late, so unless you pay money to part of the top tier or have a connection with the admins its not even profitable. They are bad for the market as a whole and they prey on those who are looking for short term moons to latch onto. Don't look for things that you think will moon today, look for investments.

3) Holding will give you more returns over a year than day trading.

You will find that most people who made six figures or more in crypto did it by holding over the long term, very few get rich by day trading. That said you should definitely learn a few indicators to see if you're getting in at a reasonable entry point. I find that the MACD (moving average convergence divergence), RSI (relative strength index), market depth and support-resistance lines are the most useful indicators for crypto. MACD is useful for looking at where the long term price should be in divergence to the short term movement, RSI gives you an 0-1 rating of how overbought/oversold it is and support-resistance lines gives you a floor and ceiling for how high it will move in your buying period. If you do short term trading, do it when you have high certainty that a specific news will lead to an increase. Some of these specific events are: upcoming roadmap item releases, fork airdrops, exchange additions and partnerships. Short term buys like this are smart moves based on some underlying value assumption being changed, trading purely on volume and patterns is generally akin to gambling on markets that are as inefficient as most cryptoassets.

4) Take your time and research what you are putting your money into.

I cannot stress this enough, you are buying an asset with your hard earned money, and it should have some utility. Start by reading the whitepaper that is on the main site for the coin. You can avoid a lot of scams by simply critically evaluating the question: "Why does this coin exist?" Is it simply trying to apply a blockchain to something that doesn't need it or is there a transactional inefficiency/problem that the unique properties of the blockchain can solve? Ask yourself what value the actual token would have in the ecosystem its part of. Does it pay out some kind of dividend like some coins, or is its value in that its used as part of transaction fees and is thus being burned? You can make a simple checklist for every crypto and just answer these questions to yourself for each coin you look at:

What is the problem or transactional inefficiency the coin is trying to solve?

What is the Dev Team like? What is their track record? How are they funded, organized?

Who is their competition and how big is the market they're targeting? What is the roadmap they created?

How will they attract their target market, how is their marketing?

How does the coin derive its value? Is there some sort of dividend structure, profit sharing plan, or is it a store of value within a digital economy? What is the float schedule like going forward (ie. how many coins will be released or burned)?

5) Learn to recognize FOMO when it arises within you

If you ever feel this itch to get in on an rapid upswing because you don't want to miss out on some new development that is causing it, stop yourself from knee jerk reacting to this feeling. This is called FOMO: "Fear of missing out" and its what drives the market now. It happens to everyone and it leads to emotional investing and knee jerk buying/selling.

6) Recognize that lots of people actually are also losing money.

Right now there is a confirmation bias happening where people who get quick gains go out and brag to all their friends all over social media, leading to this illusion that making money trading crypto is a surefire way to make money. That dopamine fix you get from seeing the position double will make you feel like a genius and its human nature to want to advertise it. What you forget is that those who lose money keep quiet about it and don't advertise their failure.

7) Accept that you will miss out on a lot of moon missions, and that's perfectly okay

Right now the crypto market is like a giant dumb money party filled with coked up headless chickens running around throwing money at every ****coin with a low nominal price hoping it goes to $10,000 like Bitcoin. Everyone is a genius in a bull market, and this creates a feedback loop of more money come in. You will miss out on these gains, but don't let that get to you. By taking your time to make your decisions you end up focusing on the fundamentals rather than short term movements.

8) Think of not only individual position, but how they fit in your portfolio and your diversification

Its good to diversify across different opportunities, but too much diversification is just saying you don't feel confident about your positions and are just casting a wide net hoping to hook something. Generally 6-12 positions is the ideal diversification spread in my opinion. It gives you a good spread across sectors, doesn't spread you too thin and any more than that is too much to keep track of.

Your risk tolerance should dictate how much you allocate between your Core holdings (which are generally considered more "safe" since Bitcoin and Ethereum will be around for a long time) and the various segments. I personally am okay with a 30% core holdings, 70% across various other segments. However 60/40 splits between core and other segments is probably a good starting point for most newbies. You can make visualizations in excel with pie charts and keep tabs on your segment allocation.

9) Try to not check your portfolio more than once a day.

[grimlock33]

IN!!! For more lambos

Edit: First? Will sell for XLM or ICX

Go QLC Go

[SKBeast]

spot for sale, accepting NEO and ZEC

[MuckSnapper]

First

EDIT FUK RESP TIME GOT ME


3rd: Spot shilled to ICX OMG XLM and ETH

[Bullneckbruh]

Here. We. Go.


Again

APPC will be at 8 dollars or more at some point during this thread

[KillahJon]

Buy xlm!

[Silencespeaks]

Innnnn

[Steavie]

in on page 1

[jeffdahmer]

In!

Edit - SOLD to TRX - ‘it can only go up from here!’

[Rangerz91]

eth is the king

when u feel the need to switch ur eth into ****coins, just recite this sacred prayer

Our Father, who art in Singapore, hallowed be thy Name, thy raiden come, thy please be done, on metropolis as it is in casper.

Give us this day our daily Eth. And forgive us our bitcoin purchases, as we forgive those who short against us.

And lead us not into fiat, but deliver us from Eth Classic.

For Ethereum is the kingdom, and the Vitalik, and the Buterin, hodl forever and ever. Vires in Numeris

[1MPGD]

little soon?
what is up

[mgftp]

AST and APPC to the moon! Lambos!

Wish I still had ETH though

[Legacyx]

finally made a page 1 post


guaranteed lambo

[prestoaces]

in on 1st page boyos

[Schnitzl]

INNN

unfortunately sold out the first ICO but I've never been so excited about a coin before. This is going to be HUUUUGEEEEEEE boys. Hoo lee fukken **** they are going balls deep into an industry that needs a revamp and doing it in style.

https://shipchain.io/

Moving products from one place to another is the figurative backbone that supports our entire modern civilization. To understand the scale of the shipping & logistics market, here are some quick industry facts and figures.

The market's global value was $8.1 trillion in 2015, and is expected to grow to $15.5 trillion by 2023, making it one of the largest industries on the planet.

In the United States, freight and logistics spend in 2015 totaled $1.48 trillion, nearly 10% of the country's GDP.

55 billion tons of freight was transported in 2015, with expected growth to 92 billion tons by 2024.

[Jeffieh]

To the next galaxy boyos

[TacticalTaco]

Innnnnnn. Bout to be in the 5 figure club by threads end lets go boyos

[Bleachway]

In to be rich by the end of 2018

[cncman]

In to be ib the 5 figure club by threads end lets go boyos

lol so many people started with a hundred bucks or less


feeding on $100 lambos

[dawktwenty]

In

qlc ftw

[PatHead]

appc bb where u goin?

[brbacquiring]

IN, guaranteed this thread is going to moon. 50 pages by the weekend, get in now while you still can.

[Evlve]

In on first page! This is our year boyos

[MuckSnapper]

appc bb where u goin?

Lord. Guess I pulled the trigger too early this time.



APPC bag crew

[Didlid]

fuark 4x my etherum investment so far. I need to yolo dump some big cash in instead of just a 100 here and there

[Frank Drebin]

Whats up guys I took a month off this site after all the crypto talk was driving me nuts, being a salty no coiner and all that. Figured if I can't beat em, join em. Shoutout to all the regulars I'll try rep you all. Starting with a measly amount but something that I will be able to easily walk away from.

Currently mostly in ETH with a small position in xby and a larger stake in xrb. Gonna wait and see how the alts rebound before I think about leaving ETH.

[brbacquiring]

Sitting here watching QLC go from 7800 to 9000 sats right before my eyes.

[EasTexan]

In.

[awilll]

Lmao I have a bunch of TRX. Sell now or hope it bounces back up eventually?

[Oranix]

red dildos everywhere. everyones riding the eth wave. hopefully thatll pump the alts later today.