This horse has been beaten to death quite a few times, but I would like to hear why you think ETH is the way to go long term, as opposed to BTC?

Like I said in my OP, the Tech behind ETH is just better...

Also, Bitcoin will always struggle to rid itself of its criminal darkside.

Most people I speak to about Bitcoin say "oh, is that the one you use to buy drugs off the internet".

authorities would rather back a 'clean' alternative in ETH...

thinking about getting into ETH, should I wait for it to go down even more or buy @ $270?

Why not both? Get some now in case this is as low as it's going for a while, but leave some money behind to invest in case it dips more.

In the last week I bought at 305, 295, 285, and considering getting more

^ ETH sucks but yeah if you want to build a position just average your way in.

One week later, I'm expected to get my ETH on Coinbase today. It's probably going to be worth 50% as much as I paid for it. Man crypto really ****ed me

I think really you ****ed us all.

Thanks JOSH...

Smh.

How many more times do you think I need to buy to drop to sub $100 ETH

To be fair, he tried to save you.

As of this point BTC/CNY at OK Coin (China exchange) is at 3300 USD compared to ~3600 USD. I'm waiting to buy more as previously this was a sign that the price was coming down further. Using BTC for reference since ETH seems to be linked to it heavily.

My next buy target is going to be somewhere in the ~200-220 range. If it doesn't go that low, I'm gonna just keep what I have. I'm expecting a weekend dump.

Maybe you could become a Chinese national and then just buy once and you should have it down to double figures...

I sold and took a 35% loss since my money finally cleared. It's going back up now.

bout time

ty

Looks like Josh had second thoughts and bought back in

I actually did buy back in, lmao. WHY IS IT GOING UP

Maybe your luck turned. Keep buying pls

sub 200 with total panic to 255 FOMOing within 3 hours, lol cryptos

I'm not buying any more. At least now I'm DCA'd in so that my portfolio is only -10%. Feel a lot better about that than -40%. I saved a bit more FIAT for some buys if it goes back down (target ETH ~ 220ish, and then 200ish) and this really is a bull trap, but I don't think it is. I think it's more likely they are bear traps now. Obviously I'm not confident enough about that prediction to put my money in and by ETH.

the bounce is fairly convincing. Look at dat volume. Josh, keep doing what u been doing, thanks.

As Ive written here extensively (you can search this thread) please do not fall into the trap of belief that cryptocurrencies are a zero sum game and that only 1 coin will possess some arbitrary dominant value over everything else.

Ethereum does possesses unique features that make it wholly different from bitcoin. For instance, it has a stronger interface to interact with software and programming. But do not conflate this with it being better or worse than bitcoin. They are separate products with different use cases and +/-s.

The flippenning is nothing but a meme that a bunch of broke 21 year olds dreamed up because they believed that bitcoin was going to burn to the ground because of segwit. I should be clearer here-- I'm not actually arguing that the flippenning wont happen, but rather if it does it wont really mean anything because bitcoin will also be worth hundreds of billions. As I wrote early on in this thread, both coins will exist for a very long time and be worth very lots of $ irrespective of their marketcaps in relation to one another.

What are your long-term holds right now aggo?
I'm only interested in holding cryptos I believe in long-term as I don't have time to chase pump and dump alt-coins on news releases etc.. (work full-time).

I generally agree with your strategy.

My portfolio is generally undiversified but concentrated. Ive closed down the majority of my bets on ethereum (they can be searched in this thread) and only hold some in my core portfolio.


here are a few plays i've finished entering and watching closely for the next 6mo-2years.


1/ anonymity coins: obvious use case, but before 2017 they didnt excite me. Zcash has a terrible distribution method that solely enriches the founders and investors. Monero development is horrendously slow and their priorities are completely ****ed up. How they dont have a lite client for people to use is just baffling at this point. But I do have to say that their GUI for the full node is very robust and clean.

Before 2017 there were rumors for years that peoples had already mapped out about 25% of all bitcoin's owners because of the mtgox database leaks & bankruptcy. Now with BTC-e seized I am sure this number will increase further. If the IRS wins its broad John Doe case vs Coinbase, you can expect this number to reach a really really really high ****ing number.

There are firms out there that possess this data, and its as simple as plugging in a random btc address, and they can trace its entire history back to mt gox and who bought the original coins. This gets worse because there are generally known hot/cold wallets for all bitcoin businesses, including gambling sites.

This year I finally relented and put anonymity coins into my portfolio immediately after the hansa and alpha bay market busts. I am positive the founders/managers got caught because of chain analysis tools.


2/ litecoin

for the longest time i could not understand litecoin and was very close to being a huge bagholder in 2013 at $35.


But after segwit activation, litecoin is extremely exciting to me because of its interoperability with bitcoin's blockchain. Lightning networks can allow people to deposit or send bitcoin to an address and unlock litecoin on its own blockchain. This is extremely interesting because it will allow businesses to leverage the FIAT liquidity of bitcoin combined with the technological advantages that litecoin/****coins have over bitcoin.

In short, you can accept bitcoin and use litecoin to settle the transaction into fiat. Litecoin's blockchain has no bloat, confirms cheaper and faster that bitcoin. This can be presumably extended to ethereum and other ****coins and presents a unique and asymmetric positive feedback loop for any coin that can use lightning.


3/ web3 coins.

Crypto coins that are tokens which allow you to interact with the next generation internet are undeniably the largest alpha and asymmetric bet you can put down right now on earth as an investment. If it works, if it becomes accepted and ubiquitous, it will dwarf anything and everything in value. This is why i qualified my flippening statement; if you had to choose which brings more value to people, gold or the internet, the choice is obvious.

So i dont know if it will be an actual crypto coin. And I'm not even sure if web3 ever becomes a thing. But I know that if there is a coin out there that is able to pull it off, you'll be dirty ****ing rich.

dont ask me which one it is, because i dont know. But i spend a lot of time trying to find it, and have some bets in play already.

Mind sharing which bets you have in this area?

+1 to Monero rant.

Number 2 feels like it's at least one to two years out, and who knows where we're at at that point, if it's even needed.

Number 3, as a user or a non-invested service, why would you want to use a separate coin for this, why not use a pegged sidechain(s) of Bitcoin? That way you would get the strength of the added functionality combined with the strengths of Bitcoin. If web3.0 is a centralized phenomenon, then sure, maybe the owner(s) of it can push a new coin on us, but otherwise it seems like the only one benefiting from using a different coin would be speculators.

I also feel like the comments on 3 could have a big impact on the if it's even needed of number 2