Ask any "crypto trader" what he thinks of the following:
The "crypto trader" (CT) gives 97$ to an underwriter (UT). The UT then will pay back $3 every year and the 10th year he will give back the CT a whole $103.
He will probably make fun of you. He will probably think you are either crazy or very stupid. Guess what. Smart people do this all the time and make a killing out of it. These are the people who actually make the world revolve around the sun.
Kids will hurt themselves a lot by "investing" in this crap called Ethereum Classic and many other cryptos-ICOs-fuckwhat. The only legit cryptos that will PROBABLY make it in the future are Bitcoin and Ethereum. Don't fool youself watching crappy stuff going from $0.10 to $10 thinking you could have made x100. Chasing the jackpot will leave shirtless.
Trade responsibly
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Timing is not an issue, I am not personally trading this. You see, this stuff is manipulated so much you cannot possibly conceive. A hundred thousand dollars on Kraken.com can make the whole ETCUSD market swing at will. In an efficient market shit stuff go down. How many DApps are on ETC? How many users? I can guess more than 50% of ETC transactions are miner transactions between them.
ummm... etc is the original ethereum its name should be ethereum... the ethereum that is trading for 1k is actually a fork...
MidasTouchTrading
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You should definitely short it with everything you got. You'll probably make a killing if you're right
aphexmean
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lol that's what crypto retards do, like buying verge, ripple and the alike. Let's check back in a couple years
MidasTouchTrading
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@aphexmean, Ripple is fine to buy when it's time to buy it. Seems like it pumps for about 2 weeks, then dumps for the next few months.
Same exact type of cycle that DOGE has, almost. DOGE simply pumps for a few weeks, then sell off for a long time. Months and months.
I think you don't understand these cycles too well, and are taking it out on people by calling them retards. Maybe you've been burned in the past? And are angry?
aphexmean
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@MidasTouchTrading, dude, you act like this stuff is totally legit. rotfl. Maybe it is you don't understand how valuations and price dynamics works cuz this stuff is so clearly rigged. It is worse than betting on horses
and fyi i did quite good (% speaking) in this game and I unwinded my last position 26JAN, when I called myself short on BTC (only asset i hodled)
also i call people retards because I am not politically correct and I like teasing. I like attentions
aphexmean
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@aphexmean, "I unwinded my last position 26JAN" this doesn't make me look like very smart but hey! nobodys perfect
MidasTouchTrading
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@aphexmean, The cryptocurrency markets are acting the same way they've acted for years. Look at a long term chart of DOGE, it's doing the same exact thing it's always done. It's accumulated at 10-30 satoshi, then pumped to 100+ and them dumped up high.
So the simple way to play DOGE is to buy it at the 10-25 satoshi area and dump it over 100. (Same thing for many other cryptocurrencies, such as Ripple).
Bitcoin is acting the same way it's always acted, since day 1. Pump to an insanely ridiculous level and then dump, dump dump. Dump is the name of the game for right now.
It's great you did good. I also did good myself, portfolio gains in the thousands of percentage points, but I am down from my all time highs, I'm not going to lie.
These markets are extremely risky. If I was in my 60's I probably wouldn't be using my retirement money for speculating on cryptocurrencies. Luckily though I'm not that old.
MartyMcFly1955
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I hope you don't put any of your money in trading(anything), because if this is what you think happens....
aphexmean
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@MartyMcFly1955, check my other forecasts. If you go back a little you can find a couple of good crypto calls