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LaaMok

My crypto journey so far

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60minuteman
On 12/12/2017 at 04:45, LaaMok said:

These are my observations, I am no expert.

4 years ago I brought 2 mining rigs for 300,000 baht but the cost of electric went up to a silly amount which would have been worth it long term,  but at the time I couldn't really afford the 30k a month in electric. Then I had heart problems and gave up with it all.  I was advised one coin will do very well and I cached in all my coins into a single coin, which disappeared at some point.

Recently I have been looking into it again and I have explored various avenues, I have set up a small local group which includes some Pattaya friends that do not live here. But it seems everyone is confused as each other, everyone has the same questions, everyone is looking for a golden ticket.  Many guys have asked me what I think about it all and how they can make money.  Here is a little of what I have found so far. (i am not an expert)

Day trading/short term trading

This is very stressful, high risk and very confusing,  the alt coins shoot up and down, at the same time bitcoin is moving,  you really need to try and ignore the usd value and increase your bit coins, one of my friends lost 40 of his bit coins day trading, I am also thinking its quite addictive and pretty much a gambling problem if you are not careful.  I dont have the time to day trade, you can plan the trade, but i would still be sat there watching it,  then you need more to go right than wrong. You need to plan it, so when you double up on the bitcoin amount that you used to buy it with, you then sell half and get your btc back, then keep repeating. This reduces the risk,  also you need to figure out your betting bank and split the percentages and manage your risk, such as 100,000 baht is your betting balance,  30k in fiat, 30k in btc and 30k in alt coins, keep them balanced, as you make more put some over to fiat. Then use 5% of your alt coin balance for each alt coin, for example,  you could even split that half your alt coin balance into long term trade and and half into day trading.  Then you can set them to sell out if they reach a 20% loss, (to reduce risk)  but also sell half at a double amount. (to get your money back first) I think you have the picture and enough to go by.  One of my friends has been kind enough to show me his system and i was very excited at it until it got to complicating and with the btc changing so fast it was kind of flawed.  His btc balance was going down but the usd amount was going up because of the btc price increase. (that's a false sense of security unless you are cashing out)  Day trading is also limited unless you hit some bigger coins due to low volumes and you crashing the price.I see people getting very stressed by day trading,  it might ruin your life. I have a friend trying to exit a huge amount from an alt coin and he can only do 1% occasionally or he crashes the price.

Long term trading

This is something all the experts recommend,  buy them cheap and sit on them for a long time, forget about them or set up a trade.  This is something I will do later when the btc price has settled. I would put a punt on the top 5 coins and a few others and forget about it for a few years.

ICO

Initial coin offerings,  there was 40 new coins launched per month, and its going to triple next month,  they now require 10 btc to get in some of the exchanges, because its getting crazy.  Many people are offering the coins for sale before they are even in the exchanges, the website could disappear, the coins might not do well, they might not get in the exchanges, there are alot of factors involved, but there is the potential to 5000x your money and i heard someone 175,000x their money. I have a friend who has a subscription to help pick the best coins.  i like the idea of this one, just buy some here and there and wait, a bit like spread betting.

One of my good friends is writing a course on how to make your own coin because he did it himself and made alot of cash, but its high risk and could be fun. But you need to promote the shit out of it and have a good idea. I think he will sell the course around 2000 usd and offer private one on one for 10-20k usd.

Bots

I have another friend who has got a trading bot made,  they have been fiddling with it, testing and came across a few problems to resolve, such as moving somewhere with no/less fees for millions of transactions. The problem with this is that you need to trust your money with a bot,  i am unsure what i think about this until i see it running and profiting.

Mining

I still think mining is a very good method as its less risky and more relaxing,  but I don't want the heat or the noise in my room, it means leaving my aircon on, if i was in a cold country and i needed heat anyway, I would consider it again. You can buy hash power, but make sure its not a pyramid scheme, I am still unsure about that concept, its a gamble. (again)

What do I think?

A lot of guys say they make money but are not, a lot of guys think they make money but are not (until you cash out) a lot of guys think their methods are best, a lot of guys want to sell you training, subscriptions, hash power, pyramid schemes, sell you dodgy coins.  Its a mine field out there, I think you need to find one idea and stick to it.  I also think the long term strategy is best. (i mean 6 month to years) Also, people steal, hack your coins, exchanges disappear, its alot to worry about.

What am I going to do?

I am lucky enough to have a few friends that sold me btc recently, probably at the wrong time I should be buying,  the 2 coins I paid 850k baht for (at least I owed them that)  I couldn't sleep good, couldn't relax, what if those 2 coins go back down to 1000 usd again,  I would owe all that money and be angry with myself for many months while I paid it off.  Yesterday I decided to cash the coins out into Thai baht and made 248k baht, which was ok for 3-8 days of running around worried,  but I like to keep things simple, I like to know what I am doing.  So for now I will focus on my online business, but i will observe my friends and i will try to find one method to make money and keep it simple.  I will still meet crypto guys and still learn.

Here is my current idea,  I have left 10,000 baht cash in my bx.in.th Thai account,  I will buy btc low and sell out when its higher. (sounds brain dead simple but its better that way) I won't put any more it, and I won't do anything else for now. I have this https://bx.in.th/tradeview/ on my screen and i will find a pattern one day over the next few weeks,  if i don't, I don't care, if i lose 10k Thai baht, i dont care.    Its not going to be easy, but i am a strong believer in keeping it simple, having it against the thai baht is more stable, I just need to find an indicator to when it is rising.  I can't be dealing with all the complexities of alts up and down, btc up and down.

My million dollar question, is when do you cash out your bitcoins?  many guys are waiting for silly amounts,  its hard to know when.  I know many millionaires right now if they cash out, but they are waiting for more,  maybe they are right, maybe they are wrong, but there are millions of opinions out there. I now have 0 bit coins.

Bitcoin whales and manipulation groups

There are plenty of guys out there with tons of coins from back in the day when they were dirt cheap, these guys can do pump and dumps.  Its very easy to manipulate for them and these groups scare me, they are probably the ones making the real money.

Here are some useful websites

Thailands largest coin exchange, easy to cash out to Thai baht

My choice of wallet https://blockchain.info/  plus phone app

Bit coin ticker https://bitcointicker.co/

Trading platform with alerts https://www.coinigy.com/

The best trading view website out there for all the crypto/bitcoin stuff, the tools on there are insane https://www.tradingview.com/

One of the largest exchanges https://bittrex.com/

Get the google auth andriod app for 2 factor authentication 

Bitcoin hardware wallet https://shop.trezor.io/ Only order from the site.

Thailands best bitcoin exchange https://bx.in.th/ref/PzA641/

bx1_en.gif

 

This is the best wallet option for security

https://www.amazon.co.uk/Ledger-Nano-Cryptocurrency-Hardware-Wallet/dp/B01J66NF46/ref=sr_1_1?ie=UTF8&qid=1513504398&sr=8-1&keywords=crypto+wallet

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LaaMok

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LarryDarrell

I lament that the term "crypto" has now come to mean cryptocurrencies rather than encryption technologies in general.  It is now in the realm of "ballistic" and "nuke."

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DaveLock
27 minutes ago, LarryDarrell said:

I lament that the term "crypto" has now come to mean cryptocurrencies rather than encryption technologies in general.  It is now in the realm of "ballistic" and "nuke."

The language has been on a downward spiral since the word gay started batting for the other side. :) 

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mlay

I'm also into crypto with BTC,ETH and LTC..

300% profit untill now buti still keep it ..i believe in that and  ithink it's just the start .. 

Bought also Electroneum ,look promising  to me , at 0.01( ICO ) .

Well..wait and see but cryptocurrencies sounds promising. 

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poptart

this is the current tulip mania of modern times, the current frenzie is created by those scrambling to get in on the craze.

if you can cash out along the way you will do well, where the top is, who knows?

I find it a very complicated system and driven more by people who dont understand what it is. I am quite confused as to what it really is or how it works. My understanding is it has a value, say of 1000 dollars, that gives you 1000 dollars of buying power to whatever venue accepts them for whatever they are selling, and typically everything is online that you buy. so if you buy something for 500 dollars, youre remaining partial coin is half, and you have 500 dollars of buying power. I couldnt invest in something I dont really understand, I do alot of investing in the markets, some good some bad, but at least I know how it works, and yes it is gambling.

I am sure their are many people investing in crypto coins who would not invest in the markets, simply because the dont understand the markets, and I am sure they dont understand crypto currencies either, but will buy them anyways. with this fueling the frenzie, where the top is is anyones guess, it is very interesting to see what happens, I would say the key is to not get too greedy, as with most investments, it can be difficult to sell on the way down.

are people buying them strictly for investment purposes? or for buying power?

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particle

Potcoin might work, but there are other cannabis coins, best to research and decide which is most likely to succeed , or buy them all.

The crypto mantra is put in what you can afford to lose. Very pertinent to you as you were fretting last time.

At the moment all the top cryptos are going up fast, so if you put money into a range of respected cryptos and take it out mid next year you'll probably make a multiple of your investment unless the bubble bursts before that. The herd is coming, not yet arrived.

Crypto youtubers worth watching include Boxmining, DavidHay , Ivan the programmer - will greatly help separating opportunity from scam.

We dont know if crytos are massively overvalued or just getting started. 

There are two types, the actual currencies, bitcoin, monero etc. and new companies based on the blockchain. For the former, we simply don't know how they will end up being valued, but the current trend is upward, fast.

Companies like spankchain who aim to revolutionise the way porn stars are rewarded using new blockchain technology, could be the new ebay etc. or they could go the way of many companies in the dotcom bubble, either disappearing or being beaten by competition like myspace or alta-vista. 

Most important to remember, companies like microsoft had their values pulled down massively in the dotcom bubble burst along with all the hyped companies, it took ten years to recover, so getting in at the right time is important, there's definitely a decentralise to blockchain revolution, happening, question is are we at 1994 or 1999? 

 

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RAZZELL

A mate works with someone who has turned £50k into £400k in a few months. So he sold up and bought a new house :)

All luck, but what isn't in life?

ADA has gone up quite a bit recently. Same mate has x4 his investment.

When I get my head around it all I might put a couple of quid in Ripple and some others and then put it a digital wallet...and as my Mum used to say "stick it in my bottom draw" :wink:

With regards to where we are...maybe in about 1997...:)

Remember Broadcast.com? No? Bought for $5.9bn in 1999 by Yahoo...3 years later they pulled the plug! :Oops1:

RAZZ

 

 

Edited by RAZZELL

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RAZZELL

https://www.bitfinex.com/t/XRP:USD

Gone from .74 down to .62 and back up again in 6 hours.

-11% + 12.5% in 6 hours...madness...

How can "coins" go up 700% in week? :wacko:

Basically, you might make a lot of money if you get lucky.

Ripple seems to be the only one which has any real foundations - backed by American Express and Japanese and Korean Banks as a payment system.

RAZZ

 

 

 

 

Edited by RAZZELL

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DeeMak

I dont want to spoil the fun here, but seriously LaaMok, so many problems by shouting from the rooftops about your ventures, new ventures or business ideas. Now, you (think) you found something, and it starts all over again. How about keeping things for youself and master everything first. Because you are really just a newbie by the looks of your first post. Which is ok, but it gives me the feeling you want to become the "advising guy" again, which is not a good idea at this stage.

If you're still standing after a multi-month bear market, maybe then its the time to give advise. But especially when it concerns money, it's best to keep it for yourself and close ones. Not on a public forum or Facebook.

Just my honest 2 satoshis... Wish you all the best though.

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splitpin

I like Exodus for a wallet, its desktop based and has a very good back up system in case of PC disaster 

https://www.exodus.io/

As for the people advising others to stay clear, I think people should research and make their own mind up.

My thoughts are, and this is not advise, that crypto is still in the infancy, only today Bloomberg started with three coin coverage

https://freedman.club/en/bloomberg-budet-pokazyvat-kurs-ripple-ethereum-i-litecoin/

 

Seems like everyday new exchangers around the world start opening books on Crypto

 

Forum I like for Ethereums

https://www.cryptocompare.com/coins/eth/forum/GBP

 

Here's another thing. How many people own a wallet, not many so far

 

https://www.quora.com/How-many-people-in-the-world-own-bitcoin-or-ethereum

 

Ethereums starting to hit new highs today, my penthouse in Bangkok is getting closer to reality lol

 

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RAZZELL

If only I'd lumped on a few days ago.

Ripple still going up. ADA still going up...oh....infact every one of the top 100 coins by volume  - bar Bitcoin - has gone up!

MADNESS!

https://coinmarketcap.com/

Thai crypto currency / payment system - going through the roof:

https://coinmarketcap.com/currencies/omisego/

 

RAZZ

Edited by RAZZELL

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Frenchguy99

Hello, can you tell me how much per KW is Electricity price in Pattaya please ? im thinking to set up a small home mining farm

 

btw, about trading, i now only invest in very small market cap coins, and it work pretty well

Edited by Frenchguy99

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60minuteman

I bought into litecoin, bitcoin and etherium mid 2017, I have done well so far and always saw this as a mid to long term punt. I invested what would be fairly insignificant to lose and decided I would hold for a year and at some point remove my initial investment. If you start out with a clear plan and the correct risk then you can switch off to all the media chatter and opinions and just trade your plan. I saw this as a high risk, high potential return investment, I only did some basic analysis of the field and decided it was something that could possibly go nowhere or be the most significant new technology we have seen for decades. The worst thing you can do is make all the decisions based on what someone else is saying because the nature of these things mean that opinions will be split....

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dbw

I made 700% on my initial investment of bitcoin the prior year.  As far as the crypto market being a illusion, maybe but people are still rushing in making everything bullish.  Wait until the market tops 1000000000, then watch people rush in.

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Frenchguy99

please anyone can inform me about the price per Kw in Pattaya ?

 

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jimmy574

I heard theres a crypto that china are trying to rival china, its low compared to bitcoin also, the power of china and asia, could be worth a punt


Sent from my iPhone using Tapatalk

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DeeMak
On 1/17/2018 at 00:53, Frenchguy99 said:

please anyone can inform me about the price per Kw in Pattaya ?

 

~0.14$ 

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Soon2Thai

I've been messing around with buying various coins on Binance, mostly erc20 tokens like Link which I did pretty well on so far as I got in early although it did crash a bit but so did the whole market recently...

Alts just seem to trade on hype and though pump and dump groups tho so it's basically gambling to be honest, many coins offer something new to solve but then they just seem to get pumped, people cash out and the purpose of that specific coin just seems to die with it and on to the next one.

I have yet to really see a coin actually be adopted and used for a specific reason, it seems Ripple is apparently running tests with the SWIFT payment network or something but Ripple doesn't seem to be going anywhere it terms of price.

It's fun to trade and maybe make a few quid but it's not something I would put serious cash like some of those 'whales' do haha.

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LaaMok
On 12/18/2017 at 02:10, particle said:

Potcoin might work, but there are other cannabis coins, best to research and decide which is most likely to succeed , or buy them all.

The crypto mantra is put in what you can afford to lose. Very pertinent to you as you were fretting last time.

At the moment all the top cryptos are going up fast, so if you put money into a range of respected cryptos and take it out mid next year you'll probably make a multiple of your investment unless the bubble bursts before that. The herd is coming, not yet arrived.

Crypto youtubers worth watching include Boxmining, DavidHay , Ivan the programmer - will greatly help separating opportunity from scam.

We dont know if crytos are massively overvalued or just getting started. 

There are two types, the actual currencies, bitcoin, monero etc. and new companies based on the blockchain. For the former, we simply don't know how they will end up being valued, but the current trend is upward, fast.

Companies like spankchain who aim to revolutionise the way porn stars are rewarded using new blockchain technology, could be the new ebay etc. or they could go the way of many companies in the dotcom bubble, either disappearing or being beaten by competition like myspace or alta-vista. 

Most important to remember, companies like microsoft had their values pulled down massively in the dotcom bubble burst along with all the hyped companies, it took ten years to recover, so getting in at the right time is important, there's definitely a decentralise to blockchain revolution, happening, question is are we at 1994 or 1999? 

 

My friend owns dopecoin,  he knows the weed coin market very well, hence why I invested

10 hours ago, Soon2Thai said:

I've been messing around with buying various coins on Binance, mostly erc20 tokens like Link which I did pretty well on so far as I got in early although it did crash a bit but so did the whole market recently...

Alts just seem to trade on hype and though pump and dump groups tho so it's basically gambling to be honest, many coins offer something new to solve but then they just seem to get pumped, people cash out and the purpose of that specific coin just seems to die with it and on to the next one.

I have yet to really see a coin actually be adopted and used for a specific reason, it seems Ripple is apparently running tests with the SWIFT payment network or something but Ripple doesn't seem to be going anywhere it terms of price.

It's fun to trade and maybe make a few quid but it's not something I would put serious cash like some of those 'whales' do haha.

I see them as tokens opposed to coins.  

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LaaMok

Update on my crypto journey, 

I now have 2 index's, (for long term gains) a bit of day trading and I have invested in some icos.

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Frenchguy99
On 1/18/2018 at 23:28, DeeMak said:

~0.14$ 

Thanks tahts fuking expensive for this kind of country

Edited by Frenchguy99

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DeeMak
2 hours ago, Frenchguy99 said:

Thanks tahts fuking expensive for this kind of country

Its not cheap but mining is very profitable now. Few months ago my ROI was 10-12 months. Now its 4-5 months.

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barsie

Plenty of good ALT companies around. I've got about 25 different investments - as you only need a few to work out long term that way.

My logic is simple 1 of these could easily be 'Apple' or 'Facebook' in a few years time. Small investments could make you a millionaire.

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