So what's up with the crypto currency market?

I'm fairly new to the cryptocurrency market, what's the feeling here on ATS? Is this just a dip? a buying opportunity? Is it a reaction to possible federal regulations and a few companies getting busted? and/or the news of the digital yuan from China, and a potential US digital coin. Is that knocking out the casual investor?

Was reading on Reddit where allegedly one entity cashed out 5 billion on BItcoin? Sounds like BS to me. What say you ATS?

I'm going to start out by just copying a previous post of mine:

First, if you don't know anything about crypto wallets or whatever, go the safe route and buy from large established exchanges like Coinbase or Kraken. These store your coins for you. You just buy and let them worry about the storage. Coinbase and Kraken are both safe and trusted.
Now, coins. The BIG one I would recommend paying attention to is Ethereum (ETH). Ethereum isn't just a cryptocurrency, it's actually an entire huge technology that is actively being used. Not only that, but major corporations such as Microsoft, JP Morgan Chase, AMD, Intel, FedEx etc etc - too many to list - are all working together as part of the "Enterprise Ethereum Alliance" to develop it. Investing in Ethereum right now is essentially like going back in time and investing in Microsoft or Apple. If anything, get into Ethereum.
Another one I might recommend looking into is AAVE, which is currently up over 72,000% over the past 6 months. No, that's not a typo. AAVE was about $0.51 in October and it's now $375. AAVE powers a borrowing/lending platform that is available to anyone. You can deposit money into it to provide liquidity and earn passive income, or lend cryptocurrencies out for varying rates of interest. You can check out its websites HERE and HERE.

Anyway, in summary: Pick either Coinbase or Kraken and buy as much Ethereum as you're comfortable spending. Sit on it for a few years and you'll be extremely happy. 6 years ago ETH was $0.51. Right now it's over $1,800. $1,000 of ETH back then would have netted you about $3.6 million today. Also, whatever you buy - sit on it. Never panic sell.

The point is, invest in the cryptocurrencies that are associated with promising technologies. XRP, for example, could potentially replace the SWIFT global payment system.

a reply to: putnam6

The only thing "up" right now is DOGE.

Market volatility is off the charts right now.

Good time to buy if you're hodling.

Or it could all crash tommorrow.

Note: BTC was at about 8k a year ago. That's from 40k to 8k. In. one. shot. Now it's holding at 50k +.

Yea, do your own research. No one can tell you what is going to happen 1 day from now.

No matter what you buy, don't sell it at a loss. Hodl until you make money, which you will, unless you bought a sh!t coin.

a reply to: putnam6

There was some sort if mining disruption in China. Panic selling if BTC generally cascades onto all other alt.

Dodge is flying on its own momentum at the moment.

Just hodl, bill runs are full of these corrections, sometimes up to 30%
Swing trading is extremely risky
Do your own research and choose coins with utility

Crypto is hard to predict because it’s tied to human mass phycology
I woke up with most my wallets down 10-15%, except Shiba Inu, which is up almost 100x this week, not 100%. . . 100x

I don't have a lot put into it, mostly just to get my foot in the door. Mostly Bitcoin Etherum Litecoin, etc. I did dabble in Tron, Dash, and Cardano.

My initial thought was a buying opportunity, but even if I do that I'm gonna wait think it might slide some more.

Not gonna sell this as just something for the long term, but I am interested in learning more and believe it will be more and more acceptable and used sooner or later.

Look at credit cards, way back when none of the banks thought that would fly

originally posted by: putnam6
I don't have a lot put into it, mostly just to get my foot in the door. Mostly Bitcoin Etherum Litecoin, etc. I did dabble in Tron, Dash, and Cardano...

...Look at credit cards, way back when none of the banks thought that would fly

All solid coins, especially if you hodl them.

Lot's of people are into crypto because of the anti-government, anti-bank philosophy behind most crypto. It isn't going anywhere that's for sure.

originally posted by: trollz
I'm going to start out by just copying a previous post of mine:

First, if you don't know anything about crypto wallets or whatever, go the safe route and buy from large established exchanges like Coinbase or Kraken. These store your coins for you. You just buy and let them worry about the storage. Coinbase and Kraken are both safe and trusted.
Now, coins. The BIG one I would recommend paying attention to is Ethereum (ETH). Ethereum isn't just a cryptocurrency, it's actually an entire huge technology that is actively being used. Not only that, but major corporations such as Microsoft, JP Morgan Chase, AMD, Intel, FedEx etc etc - too many to list - are all working together as part of the "Enterprise Ethereum Alliance" to develop it. Investing in Ethereum right now is essentially like going back in time and investing in Microsoft or Apple. If anything, get into Ethereum.
Another one I might recommend looking into is AAVE, which is currently up over 72,000% over the past 6 months. No, that's not a typo. AAVE was about $0.51 in October and it's now $375. AAVE powers a borrowing/lending platform that is available to anyone. You can deposit money into it to provide liquidity and earn passive income, or lend cryptocurrencies out for varying rates of interest. You can check out its websites HERE and HERE.

Anyway, in summary: Pick either Coinbase or Kraken and buy as much Ethereum as you're comfortable spending. Sit on it for a few years and you'll be extremely happy. 6 years ago ETH was $0.51. Right now it's over $1,800. $1,000 of ETH back then would have netted you about $3.6 million today. Also, whatever you buy - sit on it. Never panic sell.

The point is, invest in the cryptocurrencies that are associated with promising technologies. XRP, for example, could potentially replace the SWIFT global payment system.

I'm pretty sure I read this post. LOL pretty much read all your posts I stumble across. Thanks for the reply

originally posted by: JinMI
a reply to: putnam6

There was some sort if mining disruption in China. Panic selling if BTC generally cascades onto all other alt.

Dodge is flying on its own momentum at the moment.

It's funny I looked at Doge long and hard, and I just couldn't do it, but yea I'm a hodler otherwise.

originally posted by: MykeNukem

originally posted by: putnam6
I don't have a lot put into it, mostly just to get my foot in the door. Mostly Bitcoin Etherum Litecoin, etc. I did dabble in Tron, Dash, and Cardano...

...Look at credit cards, way back when none of the banks thought that would fly

All solid coins, especially if you hodl them.

Lot's of people are into crypto because of the anti-government, anti-bank philosophy behind most crypto. It isn't going anywhere that's for sure.

Oh, I definitely will hodl then for a long time, just interested in everybody's thoughts here on ATS. It seems a little more stable than those on Reddit.

originally posted by: JinMI
a reply to: putnam6

There was some sort if mining disruption in China. Panic selling if BTC generally cascades onto all other alt.

Dodge is flying on its own momentum at the moment.

Thanks this is why I asked the question here, I haven't heard that about China, I did hear a rumor about concerns about the Russia/Ukraine upsetting mining did in eastern Europe. Have no way of knowing the validity.

a reply to: putnam6

Its always been my problem with Bitcoin. 65 ish percent is mined in China....on Chinese govt electricity.

bitcoinmagazine.com...

a reply to: putnam6

Buying crypto is like making a cup of coffee.

If you want instant, you get rubbish coffee... but if you brew it, you can't expect it to just get there. it has to percolate.

Remember those guys who had bitcoins in a wallet on a hard drive years ago, they lost it, threw it out thinking it was never going to be anything.. When bitcoin rocketed well beyond their expectations, they were so sad, knowing they'd lost millions.

treat it as something you're willing to lose.... but always keep your wallet.

I dropped $100 each into Doge, VET, and Safemoon. I'm up $1000 over last Tuesday when I did it. Do I think it'll stay that way, probably not. Could I get my $1k extra out now and use it, sure. Then again this is kinda like casino money, It's $300 of my money and if I lose it, it's no worse than if I bought something goofy with it. Much like any investment, don't put in what you can't afford to lose.

I've got a good bit more I could have invested, but need cash on hand to get my driveway paved this week. Then again just off of Doge alone I could have made around 40-50k give or take, which would have paid for the driveway and quite a few other home improvements. The risk vs reward just wasn't there for me.

originally posted by: Hypntick
I dropped $100 each into Doge, VET, and Safemoon. I'm up $1000 over last Tuesday when I did it. Do I think it'll stay that way, probably not. Could I get my $1k extra out now and use it, sure. Then again this is kinda like casino money, It's $300 of my money and if I lose it, it's no worse than if I bought something goofy with it. Much like any investment, don't put in what you can't afford to lose.

I've got a good bit more I could have invested, but need cash on hand to get my driveway paved this week. Then again just off of Doge alone I could have made around 40-50k give or take, which would have paid for the driveway and quite a few other home improvements. The risk vs reward just wasn't there for me.

LOL oh, I wanted to just for the hell of it, but not going to sell unless something just takes off outrageously. Which for the immediate future is unlikely to happen

a reply to: putnam6

Same here, heck I've got enough Safemoon that if it hits 1/4 of a penny I'm a millionaire lol. If Doge gets up to where I can pull maybe 15-20k out, I'll do and leave the rest in, I could use that money for a few other things. Vet is there for the long haul I think.

Buy more ergo ... what never heard of it lol
ergoplatform.org...

Its where I point my miners at between that and raven both good projects but ergo I think its going to be much better In The future

Its all software no software last forever so i bet longterm on a good pow that can replace bitcoin ... and eth won't not as a pos coin

I’ve bought at least a piece of about 30 coins. My goal is to hopefully have 4-5 survive into the future and retire early.

Doge is on track to hit $1 tomorrow.
That’s 4/20
Which is Elon musk day and Dogecoin day.
What could possibly go wrong right?

It's crypto this is nothing unusual. Load up while coins are on sale, put your assets on a digital hardware wallet such as a Ledger Nano so you're not tempted to trade at a loss. If prices drop further, buy more and average down.

I'm only buying ETH at the moment, but last year I bought 20k XRP for 15p each, put them on my Ledger and forgot about them. They were trading at around £1.35 last week.