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A_Simple_Man

Etherium or Bitcoin? Which would you choose?

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A_Simple_Man

We all want to be on the NEXT Bitcoin, rather than getting on the train once it has left the station.  Many reports say that Ethereum, ETH, is the future big gainer.  Here is the Ethereum 101 primer < click for link

I want to know what the LinC gurus think?  Of course a person can buy both and be a winner no matter which one comes to the top but I don't have risk tolerance for that.  I want to take a shot at being one of those guys who puts $500 on the right number and has it hit big.  Is ETH the way to go?

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billy
4 hours ago, A_Simple_Man said:

We all want to be on the NEXT Bitcoin, rather than getting on the train once it has left the station.  Many reports say that Ethereum, ETH, is the future big gainer.  Here is the Ethereum 101 primer < click for link

I want to know what the LinC gurus think?  Of course a person can buy both and be a winner no matter which one comes to the top but I don't have risk tolerance for that.  I want to take a shot at being one of those guys who puts $500 on the right number and has it hit big.  Is ETH the way to go?

Good luck with that

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Daddy

I’m not much of a guru but this is my take. I own both as I think both will be successful as far as appreciating in price and are a good store of value.

My take on cryptos; the reason cryptos are successful is people world wide are fed up with governments and their manipulation of everything. Cryptos cannot be used for “stimulus”,as in printing more money, thereby decreasing the purchasing power of the currency already in circulation. It is not government controlled and therefore used to manipulate, it cannot be used as a weapon of sanction, it cannot be inflated. The same attitude that elected Trump, he is not a polotician, is the same attitude that is pushing the price on cryptos. 

Bitcoin is a bit more clunky and will probably be used as a reserve currency. I thin crypto currency is a disruptor; it totally changes the financial system of currency and payments as the crypto currency owner is the bank. No more checks, no more waiting for funds to clear. It has the potential to replace banksters. It has the potential to disrupt insure, title insurance for real estate and some others financial industries that I dont understand.

there are several countries, including China and Russia that are working on developing their own cryptos which would kind of defeat the purpose of cryptos. Banks are looking into cryptos for cross currency type transactions that would eliminate the  SWIFT system which is what the US uses to hinder those countries that are on its sanctions list.

There are probably lots of other applications that the blockchain can be used for.

My main question is how can governments muck this up? I don’t know but they will try, probably by outright banning it or regulations, probably the latter. There could be a “War on Cryptos”; with all the users be labeled as enemies of the state. It will be as about as successful as all their other “wars”,such as drugs, terrorism, poverty and many more. We could have a new Anti- Crypto enforcement agency".....

 

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rep1

I bought a little of ETH a year ago. The value is over 30 times now.

Why choose? Just buy everything.

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Daddy
35 minutes ago, rep1 said:

I bought a little of ETH a year ago. The value is over 30 times now.

Why choose? Just buy everything.

Good question. Some of the ICOs are scams, which ones are which...I don’t know so I stay away from them.

Some of the cryptos are micro caps, (capitalization, which means they are not very liquid). That is why I stay in the top 100 in market cap. https://coinmarketcap.com/ is a free website for checking cryptos. Also https://www.cryptocoinsnews.com/ is a good place for info. Reddit and twitter are also have info. Just know that “Pump and Dump” are alive and well in this arena so be very careful who you take advise from. If you want to take trading classes this is one I took. https://courses.skillincubator.com/courses/take/8-week-cryptocurrency-trading-investing-bootcamp a bit pricey but well worth it. Iknow there are others out there youtube has several.

Cryptos are a speculation and is very volatile. Understand you can lose money....maybe all of it. Obviously I think it is a winning speculation, thats why I’m in the game. Having said that my positions have gained, on average 60% since June when I started.

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rep1

many ICOs, but when they blew up, ETH still retained more than 10-20x of previous value. Some smaller ones have faded away I heard.

I'll just put my money on a little of everything now. The worst ever happened is I pulled some of them to pay back my loan early.

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Daddy

I recommend reading about wallets and starting very small to gain some experience before jumping into this market.  https://gemini.com/ is the exchange I use, and have never had an issue with. I also have an account at Coinbase which I do not recommend as I have had lots of costly holdups with them. For example I emailed them about an issue and received a prompt reply......two months later. Some of these exchanges are difficult to use.....especially if you are an inbred Okie like me. Although you will hear them touted as easy to use. Do not leave your coins on the exchange as there is the possibility of losing your coins.

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Paul
3 hours ago, Daddy said:

I also have an account at Coinbase which I do not recommend as I have had lots of costly holdups with them. For example I emailed them about an issue and received a prompt reply......two months later.

No doubt. Their customer service is seriously lacking. 

 

4 hours ago, rep1 said:

Why choose? Just buy everything.

The issue I see here is, you have to download and install a wallet for every cryptocurrency you hold. I am up to four, currently. 

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Daddy
9 minutes ago, Paul said:

No doubt. Their customer service is seriously lacking. 

 

The issue I see here is, you have to download and install a wallet for every cryptocurrency you hold. I am up to four, currently. 

You can also buy a hatdware wallet that will hold some but not any and all cryptos as well as a paper wallet for each purchase. I do have hardware wallets as they are supposed to be the most secure but I have not done a paper wallet yet but will probable next week when I buy some Dogecoin.

What Coins do you have Paul? I would like to hear your opinions, take and thoughts about cryptos.

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rep1
23 minutes ago, Paul said:

The issue I see here is, you have to download and install a wallet for every cryptocurrency you hold. I am up to four, currently. 

very troublesome and I'm still looking for a solution.

I also bought the ledger hardware wallet but can't get it to connect to chrome. And I start to think it's too risky to put everything on a machine that may break or having its manufacturer gone (can't access the private keys inside)

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Paul
13 hours ago, Daddy said:

What Coins do you have Paul? I would like to hear your opinions, take and thoughts about cryptos.

Bitcoin (BTC), NoLimitCoin (NLC2), Dogecoin (DOGE), Lisk (LSK) and PIVX (PIVX), currently. 

Bitcoin: I mainly purchased to buy other coins. I don't really want to put the amount into Bitcoin that would take to earn a decent return. I do have some money in it, though, I will admit. 
NoLimitCoin: I bought into it because I think it has potential for a lot of growth. It is a fantasy sports coin. I think it will get more popular, as more people learn about it. It was recommended to me, as well. 
Dogecoin: I primarily have this coin, because fees are cheap and transfers are very fast.
Lisk and PIVX: I purchased one on a referral and the other simply due to a feeling I had at the time. 

Aside from the above, I am as FAR from anyone to be offering advice or input, as anyone can be. I made my first purchase of Bitcoin ever, on the 13th of this month. I do hope, however, that my NLC2 does well. If it can get to $4.50 US or $5 US, I would be happy and would liquidate part of it (enough to have a decent profit in hand) at that point.

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Paul

As far as Dave's request goes, I would suggest LiteCoin (LTC), though. That is, if I were to refer one. 

I was going to buy into it a week ago, but didn't. 

chart (1).png

https://www.coingecko.com/en/price_charts/litecoin/usd#panel

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A_Simple_Man

I was going to buy some when I got my 13th month pay and then I realized:  I don't get that. <_<  So my purchase of any casino chips,  er I mean etherium, will have to wait until January :mellow:

I suppose it would make sense to use dollar cost averaging and buy $100 worth per month until I have gambled, I mean invested, my goal of $500.  I am just trying to convince myself, but I have been burned so many times in the past, ( Bre X, E Gold, and Legacy to name just a few), that I wonder why I still think I might hit it big. But where there's hope, there's people willing to take my money :rofl:

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DeedleNuts

I played it safe and got into some ETFs

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