Initial investment advice


#21

same. I’m normally reevaluating my coins every day as news etc comes out. But my general plan is to hold each for around a year as well :stuck_out_tongue:


#22

Never to late to get in. Even bitcoin. It’s just the beginning. Keep that planted in your mind. We’ve just scratched the surface :call_me_hand:t5:


#23

This is from the “Will the Bitcoin drop lower” post. I wanted to post it here where I could get advice without clogging the other thread even more.

I am still with the theory that with each “crash” or correction, the floor for bitcoin will be higher than the last. If that turns out to be true, the floor this time should no lower $6800ish.
At that moment I will probably be buying 2 bitcoins.

But I am a noob who has been learning about the last 3 years over the last 3 weeks. This is a good test of the theory though.


#24

Given the nature of this market, would you go all in right now or would you dollars cost average?

The more I see, the more I think dca.

I feel like I just missed an opportunity with the market dipping further. I am hoping more FUD will hit sooner rather than later, so I can get in at a better place.


#25

The safe route is DCA the gamble route is all in. I would personally dca. People think short term too much. Think about @peter dcaing 200 wk 5+ years ago. Do you think hes worried about the short term swings he had that he didnt buy in lower than 2 dollars? Nope. If you believe in that cryoto is thr future and were still in the early adopter stages then the differnece between 5k and 8k IMO isnt really shit if you think its going to hit a marketcap as big as gold.

You can choose any coin for that matter, are believers in tron give 2 shits about 2 vs 4 cents in 10 years whens its a hundo a coin?(hypothetically speaking). Nope.

Its all relative. We all want to have the big balance now but id I had to to put my money on it very few “bitcoin” millionaire avg joes will be millionaires in 1p years. Lambos are pricy to maintain.


#26

My take on getting a loan/credit to invest:

I know a lot of folks here in the pub believe that it’s a terrible idea to get a loan to invest into Crypto. Generally, investing on loan is considered a bad idea because you’re putting yourself into a position where if the investment doesn’t go your way you’re stuck with a large negative balance. And, for most people that really damages them financially. Hence, creating the opposite effect of what they had “hoped” Crypto would bring them.

However, if you know the consequences and you’re more than capable of paying it off even if the investment goes south getting a loan to make an investment isn’t always bad.

For example: If the market had just crashed as it has now, and I have the ability to easily get a loan on credit (with very low interest rates) for 25k (or however much you’re considering investing) and I knew with certainty (as certain as you can get in a world like this) that the loan would be repayable without much difficulty, I may consider putting the loan in. I may have a lot of assets that I can quickly liquidate if necessary to pay off the loan, I may have large amounts of savings that I just keep at the side for safety (which I can pull funds from if the investment goes south) etc…

Really, this is something you’ll have to decide for yourself. The safer route is to not take out a loan, but that doesn’t mean it’s always illogical/a bad decision to take out a loan (that argument doesn’t make sense either).

Some alt coin picks:

There’s a few that I like but the one I’m most heavily invested in is XLM (Stellar Lumens). Reasons why:

  • Adoption is happening now and rapidly. They’ve partnered with 10 remittance companies this year and have 70 more lined up that will be building their services on top of the Stellar Protocol.
  • The partnership with IBM provides them with access to numerous banks (though Stellar doesn’t pitch to banks they let IBM handle that. IBM utilizes Stellar’s protocol and pitches a service they’ve made to the banks)
  • IBM stated last year that in 2018 they’ll be doing $1 billion of transactions a month utilizing Lumens as a bridge (which is the primary use case for their currency). So, we’re seeing large organizations and smaller remittance companies integrating Lumens as a bridge – the more volume Lumens has the higher its value. A company that is using Lumens as a bridge for its remittance services today is Tempo located in France. The use case is currently only between France and the Philippines at the moment.
  • They have large number of partnerships with other large organizations such as Stripe, Icici Bank India, Deloitte, Keybase etc…
  • Keybase is particularly interesting because the partnership is based on creating a system on top of the Stellar where you can send money to anyone by just inputting their twitter handle/reddit username/facebook username/email/ etc… Here’s the link if you want to read more: https://keybase.io/blog/keybase-stellar

(I have more reasons but this response will turn into a why I like Stellar response).

There are a few other coins I like but I need to do more research into them before recommending them to anyone.

I dislike:
Cardano
BCH
IOTA

P.S. I’m not “shilling” for Stellar. Regardless of whether someone reads this and buys or not it won’t make any impact on its actual market cap. Even if someone does have large enough funds to move the market cap, if the project itself is a bad project the market cap will over time (sometimes quickly as traders take profits) come down anyways.

Also remember, just because I thought it was a good investment today doesn’t mean it’s a good investment tomorrow. So, you’ll need to constantly keep yourself updated on the projects you’ll be investing into if you’re planning on holding for 12 years.

My take on – Whether to DCA or enter the market immediately:

Once again it depends. If I were in your situation I would take a look at the current crashed prices (for the picks I’m interested in investing into) and see if it’s a price that I believe is a “good value.” Good enough to where if you entered entirely at this price point would you be content with your investment if the prices go down?

If I was entering into the market place and felt as if the prices were low enough to where I would be happy with my buy in price I would enter all at once over dollar cost averaging. If I felt as if the prices were higher than the entry point I wanted I would go with dollar cost averaging. As, the risk of entering the marketplace when the prices have just shot up is much higher than when they’ve just crashed. You can have prices go even lower in a bear market (like we’re seeing right now) but you’re obviously much more likely to be closer to the bottom.

With my dollar cost averaging scenario above if the market kept going up, I would be happy that my previous entry points are now in profit. And, if it went down, I would be happy that my new entry points will be better positioned for profit in the future.

However, with my all-in scenario above if it went down even more I would be content because I knew that there was a possibility of the price going even lower when I bought. But, I would be happy that I got in at a price that I felt was good enough to make me a lot of gains in the future. And, based on my research at the time I believed in the bullish scenario for Crypto in the long term (for whatever reason) so I had reasons to believe that it would recover in due time when the market turned from a bear market to bull market.


#27

I wanted my initial entry point to be in the $7k range or less. But my funds were not ready yet.
The funds are ready now. My intent is to buy an entire coin unit, then dollar cost average the rest. This is a buy and hold scenerio, I will have to lose value when bitcoin drops again. It will also give me more purchasing power, when it dips.

I know FOMO is driving my initial urge to purchase an entire coin nowish. What do you guys think?


#28

The market is so volatile and is so unpredictable that I truly cannot say when the best time to buy or sell would be.

If I were in your shoes I would just look at the coins/tokens I’m looking to purchase and see whether they have good entry points.

With how far the whole market has fallen, most coins you’ll get into now will have good entry points (especially today).

I agree with your strategy of putting in some funds now and dollar cost averaging the rest. The market may fall some more or we may have hit a bottom. I have no idea - I do however, feel that if you buy now it’ll be a good purchase price for most coins.


#29

Chill out right now. BTC is still dropping and will probably continue to do so for a while.


#30

Honestly, I just checked my funds are STILL stuck in transit to the exchange. I am just over excited to get into the space.
Peter_Rehm, how low and long do you think this “bear” market will last? No sarcasm, honest question.


#31

I’ve learned to never forecast something that is impossible to forecast. Getting in at the bottom is generally impossible to do.

Get in at a price with which you feel comfortable.


#32

Will do when my funds are finally available on the exchange. I thought wire transfers were supposed to be quick.
This whole process illustrates why bitcoin is needed.


#33

Got my moon ticket a few days ago on sale, I put it on my hardware wallet tonight. It was my 1st time using it, and sending bitcoin/litecoin anyway. It was a little scary, but everything was fine.
Plus I have still some fait waiting on an exchange for the bear market to hopefully keep knocking the price down till Mid May.
I am trying to gather more fiat, but life keeps interfering. It may be 3 weeks or so before I have it in my possession, and on it’s way to sit on an exchange somewhere.
Hopefully I can get my wife’s ticket at a deeply discounted rate.
I am also moving my dca day to Friday, for some reason I thought it was Wednesday. Peter enlightened me on decentralized TV.


#34

Almost done with my initial investment, I am glad To have gotten the majority of it at $7k and under.
My family had a housing emergency that forced us out our home, and diverted some of my fiat and time.
I am not sure what to do next. We are back home now.

I know dca is smart for now. I am honestly don’t think the price will drop to below $7k again. Especially if a run starts, my goal will be to invest my intial capital before that happens. I will be doing a weak dca after the intial phase.
We have seen a few major pumps in the last few days.
I am wondering what market will do next, are we out of bear territory?

What are your thoughts?


#35

Glad ur back up and running. I’d accumulate more BTC and hodl for the Long retirement play


#36

One year later, wow.
I was TOTALLY wrong about the floor. $6800, try under $3200, and the bottom still may not be in. Fomo, definitely worked against me.
I am still new and know nothing. I have read 11 books. I have spent days on the pub learning.
This market makes me feel like Jon Snow from Game of Thrones. “You know nothing Jon Snow”, then puts arrows in my back, but leaves me alive with hope for the future.
I like where I am in btc, and I am still building my btc and alt reserves. I am still dca of course. I wish I had more patience before my initial buy in.
In hindsight, a good amount of the advice on here aged well. I like most of the alt recommendations that were given. I am still looking at them, just waiting for this bear market to end.
Is there any advice you guys would like to give now?
@Peter_Rehm, @kryptokenzie, @7UP, @Matty, @Malia, @peter, @The-Dustman, @Light,
I would like to here from you, if you are still here.


#37

watch tyler jenks ( @lucidinvestments ) and tone vays for price.

only traders who turned out to be real in the bear market