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Update: so after this original post, I’ve gotten a ton of messages and compliments! Thank you! Will try and do these regularly. Here is the new thread. Check out this post! "Block$$$ update: Here are ones I’m looking at for January! (Crypto)" https://us.teamblind.com/s/irN5FDzJ ________________________________________________ I see too many uneducated threads on Blind. Happy to answer as many questions as I can. For the record, I mostly hold the top 3 and move into some of the more popular Alts. #crypto #blockchain #bitcoin Update: Thank you for all of the great questions! I think the thread is virtually unusable after several hundred comments so I’ll do another one soon. Update 2: my Private messages are blowing up. My apologies for not being able to get around to responding all of them. But please try to ask on the AMA thread, as most questions I’ve seen were something that could benefit the community.
Which coin has the most short term potential?
As of today? Depends on how active of a trader you are. Lots of rumors of huge announcement coming for EOS. Hence it’s recent huge pump. Usually when you see Ethereum hit all-time highs people immediately turn around and put their money into alts. When an alt hits like a 20% pop in a day, you’ll see people pull out back to ETH or BTC. Just playing that game is profitable enough. If you are more of the hodl type. Buy EOS. Or KNC. Zcash also has a lot of upside.
KNC chart looks horrible. What’s the reason you think it’s got good prospects?
What are you holding the most of in your portfolio right now?
At the moment, I’m holding 40% Fiat. After the recent stretch to all time highs, I’m hedging my risk.
What are your thoughts on Ripple?
Great long term. If you are trading based on the philosophy that a coin with the most transactions = most value, RIPPLE is king.
Agreed. But kind of counter to the idea that what is driving BTC is the fact than most are hodling, with the understanding that there will be only so many bitcoins.
What are some safer long term cryptos. I already have btc, eth, and ltc. What do you think of masternode coins?
Unfamiliar with master node. I would get involved with syndicates to get into pre-sale terms for ICO’s. High risk. High reward. For example I recently did QSP. Got 7x returns.
Masternode is a system that some coins use. Ah, very cool. I'll look into that
I have bTC and ETH. When should I cash out?
Don’t cash out. Actually I might hedge a little but if you are holding both. I personally pull a little out of BTC recently as there were some negative rumors around bitfinex (one of the largest exchanges in the world) that could have crashed BTC prices. But it looks like that blew over. ETH’s recent pump... I honestly don’t even know anymore. The last major crash happened because a huge ICO group liquidated their ETH holdings. (When it went from $418 to $138) I’m not sure how many new ICO’s hold their money in ETH, but in general after their raise money, they hedge their finances so ETH tends to take a hit.
News that blew over - you mean the tether insolvency? That will come back and bite everyone in crypto.
Are you giving/gifting crypto to your family for the holidays this year?
I'm going to start my kids on some. May as well get their feet wet. They seem interested in it.
Not me. Don’t want to spike a gambling mentality in them. Takes a lot of maturity to invest here. It’s volatile. You have to be able to withstand losing 40% of your portfolio in a day and not panic selling.
You really believe like many others that bitcoin will reach 100k at some point? Or is this one of the ways there will be a bust coming up? I know you work on this so there could be some bias. However still interested in seeing what your thoughts are.
There are some strong forces pulling away from BTC. (Hence the huge rally for BCH) a lot of miners are ganging up agains BTC, but after the recent fiasco, I think my bet is with BTC. They are the best long term bet for retaining value. I’m sure it’ll reach $100k at some point. There will be some big crashes a long the way.
BTC crash charts. This will blow your mind.
when should I buy BTC, if at all? Where could BTC be in 2020?
When you're investing in a crypto currency, what is the thing you're actually buying (ie what is the underlying thing that has value)? What are the primary drivers of a crypto currency's performance?
To broad of a question. Varies by too many factors. The maincoins ( BTC, ETH etc) I buy when Market’s are up, or when trust for Alt is hindering I do a good amount of ICO’s. Evaluate based on hype, team, project potential. Insider information Trading, mostly insider information.
What sites do you use to get your “up-to-date information”?
If I had 50k to invest into crypto right now. What should I buy?
Depends on how long you want to play. There is a lot of insider trading in this field. If you are up for gambling, I’d toss it all into EOS on bitfinex. And KNC on huobi.
I do admit EOS project has a huge potential, but as I remember the token has no value according to their white paper. Anything changed?