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  #676  
Old December 7, 2017, 09:18 AM
iDumb iDumb is offline
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Bitcoin close to 16000. And you guys wanted to sell it. that's a swing from 9 k to 16 k in less than a week LOL. This market is way too uncontrolled... when the institutional guys come in, should put a cap on it..

but at this rate it's gonna be 50K in 2 years.... I really wished I owned some. Can't chase this.. need to be discipline.

Overall market however is turning...profit taking, shuffling from tech to finance etc.

Really good buy mufi :thumbs: I am a little jealous actually.
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  #677  
Old December 7, 2017, 11:52 AM
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No stock has been as volatile as Bitcoin in the history of trading!

Correct me if I’m wrong!

It will crash! But when? By how much? Surely can’t wipe everything out.
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  #678  
Old December 7, 2017, 11:55 AM
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My friends neighbor bought the Bitcoin before 2014..

Now his sitting on 30,000+... not sure if the guy sold it yet..

Crazy.
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  #679  
Old December 7, 2017, 05:46 PM
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Quote:
Originally Posted by SportingBD
No stock has been as volatile as Bitcoin in the history of trading!

Correct me if I’m wrong!

It will crash! But when? By how much? Surely can’t wipe everything out.
Bitcoin isn’t a stock. It’s closest to FX trading.

Penny stocks sometimes shoot up hundredfolds.

I’m still holding on. I bought in 2 batch @ 7k and 9k
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  #680  
Old December 7, 2017, 06:11 PM
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Quote:
Originally Posted by mufi_02
Bitcoin isn’t a stock. It’s closest to FX trading.

Penny stocks sometimes shoot up hundredfolds.

I’m still holding on. I bought in 2 batch @ 7k and 9k
Yes you are right. Don’t really get how it works. Just been following it as people in office talking about it. A colleague of mine (his friend) bought the Bitcoin when it was new. The bitcoins were held in some kind of trust in Japan.. (the bitcoins got stolen), the guy lost everything. Seems risky to me so stay away from it, plus not regulated.

You just have to decide when to pull out. Good luck with it.
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Last edited by SportingBD; December 8, 2017 at 03:37 AM..
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  #681  
Old January 6, 2018, 01:47 PM
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How is everyone enjoying this rally. I am amazed. Time again and again I regret not having MORE and MORe money in market.

I am up ~55k this year (2017) doing absolutely nothing.

think of all the ppl who have millions.. their gain is that much more.

If you are single you are doing something wrong if you are not saving >50% of your earnings and investing them.
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  #682  
Old January 7, 2018, 12:59 AM
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^You're a smart investor. There are 3 things one needs to know to be a successful trader or investor- when an asset needs to be bought, when it needs to be sold and when they simply need to put their hands on their head and just do nothing. I wasn't very optimistic about the economy last year, expected a market correction, liquidated a lot of stocks and became overweight cash. Things didn't pan out as expected, however I did make a great move by turning my attention to blockchain technology at the time. I learned about the intricacies of blockchain and cryptos and understood how blockchains would change the world. I mentioned it here six seven months ago. I've been buying, hoarding and trading ETH, LTC and XRP. My initial investment was 10k and I admit I killed it .

Back to stocks, for someone like me who wants to put more money in the market, what sectors do you suggest? Currently I'm mostly in technology. Do you think I should keep buying tech stocks or industrials would be a better bet given infrastructure could soon become the focus in Washington. If so which industrial stocks?
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  #683  
Old January 7, 2018, 01:10 AM
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Quote:
Originally Posted by zman
I did make a great move by turning my attention to blockchain technology at the time. I learned about the intricacies of blockchain and cryptos and understood how blockchains would change the world. I mentioned it here six seven months ago. I've been buying, hoarding and trading ETH, LTC and XRP. My initial investment was 10k and I admit I killed it .
zman was it you who mentioned blockchain investment here? I always had it in the periphery and never actually read about the blockchain technology till recently. I am not sure if it's gonna change the world yet but you have done an extraordinary investment. you put in 10k earlier this year on cryptocurrencies, you should be in hundreds of thousands in green now if not ??million depending on what you bought. you are done bro!! I salute you!!


anyone who was bold enough to do that move needs no advice. I am jealous. and I missed out BIG on this. I usually never am on sideline for "hot items" but I royally f ed up.

though i still think cryptos will have wild ride and still be going positive overtime, i just dont like jodu modu who never even invested a single penny buying bitcoin and alt coin....i have a college friend who I tried to get him involved in investing past 12 years other day tells me he bought bitcoin... i don't like those signs.. not everyone can be rich. But i still think positively of it.
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  #684  
Old January 7, 2018, 01:55 AM
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I played it safe - my returns are between 5X and 10X depending on the crypto. Btw there's no doubt that blockchain technology will change the world. The current internet as we know it, TCP-IP protocols, everything will become antiquated technology in 5-10 years only used by technologically challenged institutions. The biggest challenge facing the internet today is anything on the internet can be hacked. As I previously mentioned the technological underpinnings of block chains or the distributed ledger system is solid and they are extremely difficult to hack. In fact nobody in the world has hacked blockchains yet. What gets hacked is crypto exchanges where cryptos are held, and these exchanges are built on traditional centralized systems. Once exchanges are built on decentralized systems like blockchains they'll be much much harder to hack.

Cryptos are a different story. 95-99% of cryptos will disappear just like most dot com companies did after the bubble burst. Most probably some of the current leaders and a few more that are unknown today but will rise from the ashes will survive. I also expect a sharp pull back anytime in the next few months and am progressively scaling back my exposure. That's why I'm back to focusing on stocks . Please let me know your thoughts.
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  #685  
Old January 7, 2018, 04:19 AM
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Nice to see someone else doing crypto trading. 5x to 10x return! That’s amazing.

Most of my holdings are in BTC, ETH, and LTC. I had around 300% return. It’s kinda fascinating that I am now able to pay all of my student loans. I usually pay double my minimum monthly payment. But now can pay the entire thing off. Amazing that through a 3 month investment, can wipe out years of debt!

Recently got into Ripple and Stellar but I might be too late. Do you think there is room for growth on XRP?
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  #686  
Old January 7, 2018, 04:51 AM
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have any of you invested in AI(Artificial Intelligence) Stocks? there's some major technological development going on there with machine learning and stuff.

I am just waiting for the day self driving electric cars become as cheap as buying a Toyota Camry.
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  #687  
Old January 7, 2018, 08:01 AM
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Quote:
Originally Posted by mufi_02
Recently got into Ripple and Stellar but I might be too late. Do you think there is room for growth on XRP?
I'm no expert so please take my comments with a grain of salt. I think XRP has run its course. What XRP has going for it is its uniquely centralized nature allows financial institutions and banks to leverage its tokens for money transfer. But its gained so much now that its market cap has simply become too big. The net worth of the CEO of ripple went from <$1 billion in December to >$40 billion in less than a month. If it doubles or triples from here he'll surpass Bezos and become the richest person in the world. I doubt market forces will allow that to happen. One other thing most ppl don't understand about ripple is unlike most cryptos, the real back end tokens that are used to transfer money by banks are not XRP. The XRP that trades on exchanges is really just a front end proxy token that is of little value. I liquidated most of my holdings around 3.20 and only hold a small portion of the gains in ripple but I feel more comfortable just trading it for a quick 5-10% gain when it falls in the 2.30-2.40 range. That being said, if BTC goes on a tear and say doubles in the next few months then XRP's runway could be extended.
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  #688  
Old January 7, 2018, 08:15 AM
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Quote:
Originally Posted by Rifat
have any of you invested in AI(Artificial Intelligence) Stocks? there's some major technological development going on there with machine learning and stuff.

I am just waiting for the day self driving electric cars become as cheap as buying a Toyota Camry.
Before the crypto frenzy took the world by storm I thought AI and machine learning would be the latest craze. I still think AI is more cutting edge but block chain has done a better job of monetizing the technology and made it easier to invest in directly. Do you have any particular stocks in mind?
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  #689  
Old January 7, 2018, 08:52 AM
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Quote:
Originally Posted by zman
I'm no expert so please take my comments with a grain of salt. I think XRP has run its course. What XRP has going for it is its uniquely centralized nature allows financial institutions and banks to leverage its tokens for money transfer. But its gained so much now that its market cap has simply become too big. The net worth of the CEO of ripple went from <$1 billion in December to >$40 billion in less than a month. If it doubles or triples from here he'll surpass Bezos and become the richest person in the world. I doubt market forces will allow that to happen. One other thing most ppl don't understand about ripple is unlike most cryptos, the real back end tokens that are used to transfer money by banks are not XRP. The XRP that trades on exchanges is really just a front end proxy token that is of little value. I liquidated most of my holdings around 3.20 and only hold a small portion of the gains in ripple but I feel more comfortable just trading it for a quick 5-10% gain when it falls in the 2.30-2.40 range. That being said, if BTC goes on a tear and say doubles in the next few months then XRP's runway could be extended.
this post actually is a pretty decent analysis on trades and has good thought process behind it
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  #690  
Old January 7, 2018, 08:59 AM
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In regarding AI, i think the safest bet are stocks like google, amazon, Musk stocks (tesla or whatever **** he does), facebook, microsoft.... Whatever these guys do will shape the world next decade. There will be few break through technological small companies but chances of them being bought out by these big guys are extremely high.

rifat you should have been loading up on google on all these years. they pioneered self driving idea.

Uber also will be ipoing at some point soon but this company will be just an adapter but will never invent anything despite many may think self driving uber is the future. I don't know why uber/lyft neve ipoed earlier.. wanted to own them forever now for different reasons.
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  #691  
Old January 7, 2018, 10:05 AM
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Quote:
Originally Posted by zman
I'm no expert so please take my comments with a grain of salt. I think XRP has run its course. What XRP has going for it is its uniquely centralized nature allows financial institutions and banks to leverage its tokens for money transfer. But its gained so much now that its market cap has simply become too big. The net worth of the CEO of ripple went from <$1 billion in December to >$40 billion in less than a month. If it doubles or triples from here he'll surpass Bezos and become the richest person in the world. I doubt market forces will allow that to happen. One other thing most ppl don't understand about ripple is unlike most cryptos, the real back end tokens that are used to transfer money by banks are not XRP. The XRP that trades on exchanges is really just a front end proxy token that is of little value. I liquidated most of my holdings around 3.20 and only hold a small portion of the gains in ripple but I feel more comfortable just trading it for a quick 5-10% gain when it falls in the 2.30-2.40 range. That being said, if BTC goes on a tear and say doubles in the next few months then XRP's runway could be extended.
Thanks. You sold it right at the peak. My break even point is at 2.70 so I am more or less neutral now. I will sell it if it goes close to 3.

I have that heard Ripple is backed by IBM and that’s why it has some credibility. Most of the crypto trading is done in Japan/S Korea. Later this month, they will decide if they will allow crypto ATM. If that happens, and if all these coins gets a physical ATM (just like Europe), then I believe price will go up as well.

Have you heard of Stellar?
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  #692  
Old January 7, 2018, 02:38 PM
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^You shouldn't have trouble hitting your target. Most ppl get burnt because they don't know how to set targets on their sell prices. Ripple should become the most ubiquitous crypto soon as it's adopted by tons of banks and financial institutions already including American express. But there's an inherent problem with the crypto. When you transfer assets or purchase a product with say BTC or ETH, the transaction of the actual asset is verified via proof of work. The same cannot be said about ripple. The actual ripple tokens that are transferred from one bank to another are held by the banks themselves, these are not traded on exchanges. What is traded on exchanges is a phantom ripple that has its own ledger. 90% of the ppl who own ripple don't understand that yet.

Although my fav crypto is ETH, I also like XLM, NEO, ADA, IOTA and a bunch of others because of their underlying technology. Problem is the valuations are really stretched at this point. So it's fine to trade them just not very safe to hold them. I'll give an example. I think what ADA is trying to do is amazing. But at the end of the day all they have done is published a white paper and have ways to go before actually developing the technology. Yet they have a market cap of $27 billion which is half the size of Uber.
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  #693  
Old January 7, 2018, 02:39 PM
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Quote:
Originally Posted by iDumb
In regarding AI, i think the safest bet are stocks like google, amazon, Musk stocks (tesla or whatever **** he does), facebook, microsoft.... Whatever these guys do will shape the world next decade. There will be few break through technological small companies but chances of them being bought out by these big guys are extremely high.
Makes sense. Did you intentionally leave out Apple?
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  #694  
Old January 7, 2018, 02:58 PM
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Quote:
Originally Posted by zman
Makes sense. Did you intentionally leave out Apple?
Yeah I have. I am not sure how Apple fits . With jobs out of the picture not really convinced they will.be innovating the next AI hit . But it's a great company to own for other reasons .

I would add ibm to that list of AI companies .

The world will change significantly next 20 years and I am betting the above companies or few of their bright employees will play some major role there ..


All u cryptos got 5 to 10x in few months .. I achieved 1.5x with MasterCard after 4 years.

Let's if turtle can win at the end or not .. I do like foxes though
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  #695  
Old January 8, 2018, 02:55 AM
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just a caution to many young minds here who are new to investing. I know it is tempting to get into cryptocurrencies but you should do your due diligence just like buying a proper stock.

https://www.stuff.co.nz/business/wor...s2b-market-cap

these are not good signs. Bitcoin and few others will eventually survive after any massive correction but a lot of it wont. This is very much like 99 dot com bubble if not worse. If you put money in some unknown random one and get 2 to 3x - take your money out and run. Just know the risks before losing your shirt. my 2 cent.

Don't mistake the post as being against cryptocurrency or blockchain technology however, i think a form of crypto is neccesary and will survive and thrive, and some companies using blockchain tech in innovative way also may comeout ahead but choose wisely and after due diligence. And that due diligence involves making decisions and asking questions like Does it make sense and does it have merit?

Remember you can also win big in Casino too.
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  #696  
Old January 8, 2018, 10:13 AM
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Just got back into XRP below $2. This is a real steal
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  #697  
Old January 9, 2018, 01:27 AM
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I just briefly glanced over some of my transactions from the year 2007/2008.

I missed out on about >140k USD for closing out my position in just 3 stocks. I took profits at 1 to 3 k. loss in one (and that one for f*&*& tax purpose on 12/31 but didn't get back in after 30 days). STUPID DUMB YOUNG MIND!

I m afraid to calculate all others... and not to mention the ones i haven't put money into.
I feel like vomitting.

lesson: No reason to sell a good company thats in forefront in changing majority of lives in the world. Instead keep adding yearly.


I am pretty certain my mistakes are close to half a million dollar area..
and the worse part is.. i didn't need any of those money....my living situation would have had ZERO impact had i lost all the principal...

20s: save, invest, and don't give a f if u lose.
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  #698  
Old January 10, 2018, 04:50 AM
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Quote:
Originally Posted by iDumb
just a caution to many young minds here who are new to investing. .
I am gonna be the voice of reason in this thread on blockchain. There has to be a balance.



All points to big bubble but doesn't mean you can't make money. you can but RUN RUN RUN when it makes sense.
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  #699  
Old January 10, 2018, 04:51 AM
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Quote:
Originally Posted by iDumb
just a caution to many young minds here who are new to investing. .
I am gonna be the voice of reason in this thread on blockchain. There has to be a balance.



All points to big bubble but doesn't mean you can't make money though.
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  #700  
Old January 10, 2018, 05:37 AM
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Quote:
Originally Posted by zman
Just got back into XRP below $2. This is a real steal
I think it is heavily undervalued now.
If it continues to go down (it will stop soon), it’s an absolute bargain.

What is the best way to buy XRP? Any good trusted sites/platforms?
Also, why do you have to buy something else before you buy XRP?

I feel sad for people that have Bitcoin (Just because of the hype)
I feel sad because when the crash happen most of them will feel terrible.

On saying that, those who know what they are doing and how Bitcoin really works (have already made their money). Great move.
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