RetireJapan

N00bster wrote: ↑Fri Dec 08, 2017 6:18 am Interesting view about the current frenzy. Would love to hear others' opinions on this:

https://medium.com/@kristopolous/heres- ... a11e0f835b

Just seems like scare mongering. His sub-headline "The next recession could be weeks away" makes that pretty clear.

Of course it's going to crash big at some point. Deep down I think everyone believes that. That's why it's important to take profits and diversify into Eth and other alts. Blockchain is the future. It's difficult to deny given the uptake of the tech (in Australia for example). But there's a decent chance Bitcoin isn't the future of blockchain.

Most people with large amounts of bitcoin have it stored in wallets offline, this means they can't trade (and can't use stop-loss limit orders). And even if they decided they wanted to sell during a crash, the network would be so congested it would be difficult and time-consuming to transfer to an exchange. Could this possibly limit the severity of any crash? I don't really know, but I'm hoping.

On thing's for sure, with all the new money coming in from people due to FOMO (fear of missing out), it's only increasing the likelihood of the same people panic selling due to FOLIA (fear of losing it all... I just made that up by the way ).

Jamo wrote: ↑Fri Dec 08, 2017 7:38 am On thing's for sure, with all the new money coming in from people due to FOMO (fear of missing out), it's only increasing the likelihood of the same people panic selling due to FOLIA (fear of losing it all... I just made that up by the way ).

I'm definitely FOMOing here. Hoping that the momentum will take it a bit higher, then I'll take out my initial stake and see what happens to the rest. Worst case scenario, I'll end up with some very devalued cryptocurrencies

Jamo wrote: ↑Fri Dec 08, 2017 7:38 am FOLIA (fear of losing it all... I just made that up by the way ).

Brilliant. We heard it here first.

adamu wrote: ↑Fri Dec 08, 2017 3:42 pm

Jamo wrote: ↑Fri Dec 08, 2017 7:38 am FOLIA (fear of losing it all... I just made that up by the way ).

Brilliant. We heard it here first.

Yep. Definitely propagating this one, it's perfect.

I chickened out. I'll do a blog post in the new year, but the condensed version is: I bought some crypto (something like 85% Bitcoin, 10% Ethereum, 5% Litecoin), watched it go up and down, got killed by fees, and ended up selling most of the Bitcoin at a slight loss.

I'm up about 80,000 yen up after fees (mainly 'cause of the Litecoin).

I tried trading shares in the past and hated that too despite making a bit of money.

So I think going forward I will just put a small set amount of money into crypto each month and leave it there. See what happens.

Buy and hold I can handle

Chickened out of what? Day trading? If that's the case I don't blame you. Definitely not good for the nerves.

Buy and hold, reallocate or diversify when required. That's my current strategy.

After you've held for a while and watched the swings, then you can get an idea of when might be a good time to make a trade.

Btw, your bitcoin allocation was pretty large. Most people seem to be around 50% (and decreasing) these days, given the uncertainty around it.

Jamo wrote: ↑Wed Dec 13, 2017 1:32 am Chickened out of what? Day trading? If that's the case I don't blame you. Definitely not good for the nerves.

Buy and hold, reallocate or diversify when required. That's my current strategy.

After you've held for a while and watched the swings, then you can get an idea of when might be a good time to make a trade.

Btw, your bitcoin allocation was pretty large. Most people seem to be around 50% (and decreasing) these days, given the uncertainty around it.

Yeah, I guess. I put a bit more money in than I was comfortable with. Have taken it out now so am more prepared for the ride.

Account is now up just over 100,000 yen after fees. Pretty insane stuff.

Totally agree about the Bitcoin (that's why I mostly sold out of it). Will probably stick 40/40/20 Bitcoin Ethereum Litecoin going forward.

Yeah, Eth and litecoin have gone nuts during the last week or so after a pretty long stagnant period. Lucky timing!

Jamo wrote: ↑Wed Dec 13, 2017 9:05 am Lucky timing!

Luck of the dumb, I guess