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I just opened a Coinbase today. I looked at the recent rise of bitcoin, if I had invested during the summer I could have easily put in like $1,500 and have over $500,000 today. That would have paid off all my debts... But I'm trying not to beat myself up over that.

What do you crypto autists think? Is it still peaking? Is there a correction coming that I should wait for to really go in?

I put about $320 in across bitcoin, etherium, and a couple smaller coins.

I just opened a Coinbase today. I looked at the recent rise of bitcoin, if I had invested during the summer I could have easily put in like $1,500 and have over $500,000 today. That would have paid off all my debts... But I'm trying not to beat myself up over that. What do you crypto autists think? Is it still peaking? Is there a correction coming that I should wait for to really go in? I put about $320 in across bitcoin, etherium, and a couple smaller coins.

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I've heard talk about xrp and stellar

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I just saw that Coinbase will suspend trading XRP on January 19th due to some FTC crackdown.

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Really? Interesting date...

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XRP is being sued by the SEC. Avoid for now

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Not enough money to worry about. Manage stop loss if investing more.

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Buy monero, its a privacy based coin should see big gains once central banks start banning bitcoin.

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The wrong time was yesterday the right time tomorrow.

Read this comment tomorrow

Also Doge coin to the moon!

[–] [deleted] • 0 pt

Yes - you buy the dips and sell at the peaks. Crypto is peaking right now. It will dip again.

Rather than riding the rollercoaster and getting stressed about what is basically gambling, I would recommend you set aside a weekly investment amount which could be as little as $10 and look into 'dollar cost averaging'.

This way you would set a recurring weekly purchase of the same amount on a regular basis and this would insulate you against fluctuations in the market.

Unless you want to get really into it and start trading but if you do that you're up against professionals and bots and tax codes any it's really not worth the stress imo

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I don't think it's peaking yet, my best guess is itll get up to 100k before retracing for a bit, but nobody knows for sure.

If you are ok looking at the 5 year out, even if you buy high now and it retraces back down, you will still win eventually. It seems inevitable at this point it will become a part of the reserve currency landscape of the world.

I bought when it was 15k, and have just held it since. I was down for a few years, but I had faith it was the future of currency and would come back.

When it's worth $400k, a $40k entry point is going to look pretty good.

Your mix sounds good. Don't put it all into one thing. Also, make sure you take it out of the exchanges. Don't leave your money there once you are done your initial trading.

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What do you recommend after I'm done putting my initial $2,000 or so?

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I like Bitcoin, Ethereum, Neo, Monero & Dash.

I think the second stage of the economy switching to crypto will be people realizing that while cryptocurrency is the future and superior to fiat money in almost all ways, the anonymity provided by Bitcoin is minimal since the ledger is so transparent. There is some anonymity, but as soon as your name is tied to a Wallet address, the anonymity is gone, so while Bitcoin will probably become a store of value/reserve currency, day to day usage will likely migrate to something that protects true anonymity.

The risk of the privacy coins like Monero & Dash is that if there is somewhere the government will crack down on first, it will be these privacy coins since it makes it even harder to track the movement of funds and enforce income tax laws. So while I think the movement to these types of currencies is inevitable, in the short term it may not be as profitable an investment as the governments adds regulation and struggle to keep the sand from leaking out between their fingers.

It seems inevitable to me that there will eventually be no income tax (because it will be too difficult to track income), and we will instead switch to taxing consumption. (sales taxes, etc)

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Wherever you buy, remember it isn't yours if you don't control the keys. There are sites like blockfi that offer interest to hold your money for you, then they loan it out.

The other end is having ledger or some other cold storage. Do your research and understand the risks.

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Ask yourself BEFORE every trade:

  • What do I expect to happen?

  • How am I going to get fucked?

  • How fucked do I want to get?

This means having at least two exit strategies: one for getting out with profit, one for getting out without too much loss.

If you think every trade you make is going to be perfect, then you think the other side of the trade will take all the fucking which is unrealistic.

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Fuck crypto. Buy gold.

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Why not both? Diversify. Gold is life insurance, crypto is retirement insurance. If shit goes crazy, you have gold. If the internet still exists in 30 years you'll be rich.

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To me, it's like planting a tree. If you aren't a day trader there are 2 best times to invest. The first is 20 years ago. The second is today. With crypto it's 8 years ago, but the analogy still holds. Is this a bubble? Probably, but I doubt we ever see below $20k again. I think we touch 6 figures in the next year then settle at $50k.

Don't buy xrp. BTC, ETH, maybe LINK. Unless you want anonymity then look into monero. Don't spend more than you are ok with never seeing again. Don't second guess after you jump. If you don't need the money, ride it out longterm. If you want to day trade, good luck and have a plan. And be willing to adapt.

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Yes you should always invest in things that are at all time highs

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Am I detecting sarcasm?

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Yes I was definitely being sarcastic don’t do this!

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Bitcoin may be at it's historical high now but I don't think it's anywhere near it's all time high yet. And there are lots of other coins on the rise too.