Well at least the scam artists are getting fat.

TRX CEO just pulled out after a nice big bull run, taking home a whopping 300mm USD. Well done.

https://www.reddit.com/r/CryptoCurrency/comments/7oi7mf/tron_trx_ceo_justin_sun_sold_6_billion_trx_scam/

I'm gonna just throw like $20 onto Binance and fuck around with it for a while and see if I can make anything. Do any of you guys day trade or do you just like try and predict trends with new cryptos and get in early or what?

I have one unrelated question, is it at all a good idea to do a pseudo-mutual fund thing where I just put a lil money into every crypto on there and just sit?

This post was edited by Voyaging on Jan 6 2018 02:18pm

People have done these quasi-experiments where they put an equal amount of money in like the top 100 coins, and for everyone who has done this, they have a net profit. The crypto space is currently a bubble with upward momentum, so realistically, it's just a matter of "starting time of investment" as being arguably the most important factor. So, it is possible to make profit by doing that. Now, of course, those people doing these experiments have to figure out when to pull out though, since those profits are not actualized.

I don't really daytrade because A: I'm not a whale and B:I'm not prepared for the anxiety it'll give me.

I think it's perfectly fine to have a crypto portfolio that's diversified. I'd recommend somewhere between 40-60% BTC and the rest you can fill in yourself. Safe bets would be LTC, ETH. If you want to go to the moon you hop on the latest shilled product, which currently are things like $VEN, $XRB, $XLM, XVG,$XEM, etc.

I like ETH purely because it seems to be being used as the sort of "mediator" in exchanges. A lot of people buy ETH to trade with, or so it seems. So it's like the de facto cyptocurrencycurrency (along with BTC).

buy XYZ coin today u get lambo tomorrow !!!!

I don't think BTC is safe at all. It's a garbage algorithm and all it has is it's name. As soon as the masses understand that other cryptos exist, they'll hop off BTC. IMO, Monero, IOTA, and Ripple will be the ones that survive the bubble. They'll lose value, but they are built for the long haul.

I've done some reading into Monero and I don't see anything bad about it so far. I'm very new though.

One thing I like is I'm seeing articles about Monero being used on the black market. Let's be perfectly honest, the black market is the only real place cryptos have a long-term home.

Regardless we can have a safe bet that BTC is going to fail eventually. First-mover advantage only works until others improve on the formula. Friendster vs MySpace vs Facebook, takes several generations for the formula to be optimized and for the trust of the overall system to be etched into the public psyche.

This post was edited by Thor123422 on Jan 6 2018 07:06pm

I 100% agree. The only downside to Monero is that it is slow, unlike IOTA. If you could combine the two...that'd be really neat.

I really like Monero, thought it was too high at 200 and didn't buy in lol, jokes on me. The privacy and constant production are appealing.

This post was edited by nobrow on Jan 6 2018 08:09pm