How do you grow a crypto portfolio?

Yeah, I’m not sure yet as I’m waiting for my signup verification. After watching through a bunch of the videos Peter posted in the beginners post (Bitcoin Beginners & Help [START HERE] - ULTIMATE GUIDE!) I might sign up to GDAX to avoid transaction fees from coinbase. I’m also waiting for my verification to go through with Poloniex. My plan is to use mutliple avenues.
As for storage, I’m using my Trezor for storing my main BTC amounts.
 
I use Gdax to purchase through Coinbase. I linked my personal bank account to Coinbase and religiously send in an amount every Week so it is available the next week (5 to 7 day lag for funding). Send Coinbase funds to Gdax and purchase then send xyz coins to another exchange, exodus, wallet or wherever. Peter has a great tutorial and how it works specifically. I like to keep costs to a minimum and maximize funds towards cc.
 
@Reaper Yes have checked out the vid’s they are great @peter . Have already registered with GDAX but haven’t done any trades yet need to connect bank ac too. May give coin floor ago just to see how it differe’s . How much did your Trezor cost? easy interface to use? It’s great to have someone else in the UK to share journey with. To the moon LOL.
 
My Trezor was about £100. Very easy to set up and use. Would recommend 😄
:uk:
🍻
 
Sorry if I missed something, but why would you trade a fast moving alt coin back into BTC? does that mean you have very strong faith in BTC? I’m paranoid that bitcoin would be the first target if the government wanted to test out quantum computing technologies or if they wanted to stop crypto.
 
@skycoin76 Just got approved with coinfloor.co.uk. I don’t think I’ll be using them as minimum deposit is £1000!!! Also, they only trade BTC. I think I’ll stick with coinbase and use debit card deposits instead.
 
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Long:

I’m paranoid that bitcoin would be the first target if the government wanted to test out quantum computing technologies or if they wanted to stop crypto.
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That day of quantum computing hacking is not here yet. I’m more concerned about whales and exchanges manipulating pricing than I am about the gov’t (or anyone else) shutting down crypto with quantum computing resources.


Right now today, market manipulation is rampant and we’re playing along within that game every single day. On the other hand, quantum computing is not affecting things in any measurable way. In fact, they’re still highly experimental beasts with companies/governments working on fairly trivial scenarios. Here’s a good read:

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TechCrunch
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Intel moves towards production quantum computing with new 17-qubit chip​


Intel's quantum computing efforts have yielded a new 17-qubit chip, which the company has just delivered to its partner in that field, QuTech. It's not a..


Just something to think about. For me, the question is where to be paranoid the most about and then consider your game-plan to minimize exposure to the greatest risks first. That’s exchanges getting hacked first, whales and exchanges themselves manipulating market second, my computer getting hacked/compromised and consequentially my wallets and fiat bank accounts being drained third. Everything else is distant 4th, 5th, etc.


Michael
 
Yoooo, you could have sold Bitcoin at 5800 for USDT and then rebought lower at 5200 to take profits and make a crypto portfolio grow.
Also, the bitcoin gold fork is on the 25th of October this next Wednesday, not the 21st, my bad.
 
I don’t trust that the government or corporations are really telling us how far they have pushed their technology.
Even if it isn’t quantum hacking, there is a real chance that bitcoin simply stagnates while competitors out innovate them. Or the government will treat it like it’s drugs to try to stop it. Which will probably increase the price long term 😂, but it will be stressful when you try to cash out.
As long as bitcoin functions as a hedge against inflation, and works as a settlement layer, I think its price is justified. But we need a coffeecoin, something that could handle lots and lots of transactions daily
 
I mean lots, enough to rival VISA. Hopefully litecoin is that coin and it will moon
 
I did some quick math. litecoin does 56 transactions per second.
56* 60 seconds in a minute * 60 minutes in an hour *18 hours in a waking day = 3.6 million transactions a day.
Starbucks sells about 4 million coffee drinks a day.
So… it’s a lot for now but not nearly enough
 
For Perspective:
VISA handles on average around 2,000 transactions per second (tps), so call it a daily peak rate of 4,000 tps. It has a peak capacity of around 56,000 transactions per second, 1 however they never actually use more than about a third of this even during peak shopping periods. 2
PayPal, in contrast, handled around 10 million transactions per day for an average of 115 tps in late 2014. 3
Let’s take 4,000 tps as starting goal. Obviously if we want Bitcoin to scale to all economic transactions worldwide, including cash, it’d be a lot higher than that, perhaps more in the region of a few hundred thousand tps. And the need to be able to withstand DoS attacks (which VISA does not have to deal with) implies we would want to scale far beyond the standard peak rates. Still, picking a target let us do some basic calculations even if it’s a little arbitrary.
Today the Bitcoin network is restricted to a sustained rate of 7 tps due to the bitcoin protocol restricting block sizes to 1MB.
VisaNet handles an average of 150 million transactions every day4.
 
Just because a coin does a certain amount of transactions currently doesn’t mean it isn’t capable of doing much more. What LTC is currently doing is pretty irrelevant, it’s an empty 6 lane highway.
IOTA’s technology is basically capable of doing an infinite number of transactions because it gets stronger as more people use it.
 
I know they are going to upgrade the system. I just want it done now
 
Others have told me that it is not easy to learn how to day trade. I am open to learning it, but for some people wouldn’t it be easier to find other ways to increase your income?
 
i’m completely sure it is not for everyone, and for some people, other ways would be easier.
but, easy/hard is so relative as to be a non-factor when evaluating whether or not you can learn something. the actual only way to know is to invest some real time learning real techniques from authentic sources. sometimes it’s harder to find good sources than it is to learn what they teach. if a person is smart enough to understand that almost anything can be learned with enough time and persistent study, they are probably smart enough to learn what they are interested in learning.
i’ve heard that going to garage and estate sales on saturdays and flipping on amazon and ebay can net some serious gains, but for me, that would essentially be impossible.
 
I feel like I am so close to being successful in my other endeavors that it would make no sense to defect and learn something new at this point. Also, day trading would increase my anxiety levels. It would be different if I had a cash reserve just to learn it, but I don’t. Thanks for the reply though.
 
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