Can't wait for the rebranding on Feb 26th and all the announcements leading up to it. The news from today included a lot of gems, never felt more confident about a crypto.
Yeah, I mean, I will ride pumps and shitcoins. I'll ride hype. Tis the world of crypto. But long term? Give me the investment into a professionally run company backed by large entities, corporate interests, governments, VCs, and also a strong business case. Will it be the most lucrative/greatest return? I don't know, no crystal ball here: but I do know I am going to find something that will survive the eventual crypto purge (still didn't happen LOL). My trading goals are to increase my ven stacks. So I may have bias in my approach.
With so much volatility, I think the right approach is to have a sizeable stack of VEN, and trade 50% from top to bottom. If somehow it gets away from us, we will still have the other 50%. I know what people think about USDT, but until something changes, it is a viable place to park "cash".
Is it that bad? Do you expect USDT to evaporate overnight? I have done it before. Not picking on you, but there appears to be an element of reality and fantasy when it comes to USDT.
Is what that bad? Tether has been accused of wrongdoing by a select few for a long time. Whether they're full of crap or not, I have no idea. I know that severing ties with an auditor and getting a subpoena doesn't give me a lot of confidence that everything is on the up and up over there. But it also isn't proof of wrong doing. Do I expect USDT to evaporate overnight? I don't. But I can't cash out tether to my bank - and there's a lot of uncertainty around its market. What do you think is going to happen if tomorrow it's revealed the whole thing has been a huge scam? Are people still going to trade you for a "1:1" tether coin at the same value? Why would I continue to use USDT when I can actually cash out to USD on GDAX, Gemini, and hopefully Bittrex soon? "I'm not picking on you," but I think right now it would be smarter if you told people to convert their coins to USD and actually cash out instead of holding a coin surrounded by uncertainty. **I am not telling anyone to cash out their coins. If you like money, and hate taxes, HODL'ing will be your friend**
Ok. Thanks. I am trying to go play the crypto market with eyes full open, so I appreciate your perspective. Nothing worse for investing than a herd mentality.
It want to echo what LTF has said. The accusations are troubling and many are skeptical. This is how I see it playing out. In the event it is discovered USDT is not backed by USD, insiders will be the first to find out. This will create a falling in the market and a sell off to fiat. Then those who are very savvy with the market will realize what is going on will also do a sell off to fiat. Then the next group of experienced traders who do not know whats is going on but sees a massive sell off will see it as an opportunity to jump on USDT thinking they can buy the 'dip'. At this point, USDT FUD will set in. People will either HODL, sell off to fiat, or disregard the USDT FUD and buy USDT. What you must understand is that if there is not sufficient USD to back USDT, then USDT is a bubble within the crypto bubble. USDT will not crash and burn in a bull market, but on a sell off, when everyone is trying to find a safe haven. USDT is most dangerous to use when there is a full market massive sell off. Swing trading using USDT from one pump and dump to another is much safer, but whats the point of that when you can just trade into ETH/BTC? The question is at what point does USDT become 'untethered' from USD? Will 90% USD reserves be sufficient to keep it tethered? 80%? 75%? 50%? If it is discovered USDT is not sufficiently backed by USD, how low does the price of USDT need to go down before it becomes 'untethered'. I would imagine if USDT reaches as low as .75, all faith would be lost and it would just crash and burn. This is exactly why we need better regulation. My suggestion would be to trade it to LTC, transfer to Coinbase and sell it to USD. However considering Coinbase is just as unreliable as BTC during mass market activity, you might be better off trading it to ETH, transferring it to Gemini and sell to USD. This is why I HODL. Problem solved.
When tether shows insolvency, it will collapse instantly, and odds are you'll probably not be by your computer. That's the issue. If you want to tether out, be directly on the exchange every second.
Cryptocurrency exchange Binance suspends trading https://www.ft.com/content/c17f9cae-0caf-11e8-8eb7-42f857ea9f09 Binance has denied that it was hacked after a system upgrade sparked an extensive halt of trading and customer withdrawals of funds at one of the world’s biggest cryptocurrencies exchanges. The depth of the system issues at the Hong Kong-based exchange first came to light on Thursday at roughly 2:20am GMT. An official announcement told traders that “due to a significant increase in users and trading activity, Binance will need to extend the system upgrade” that began hours earlier. It said that it expected the work to be completed by 2pm GMT, but that “withdrawals and trading during this period will remain suspended.” However, by 1:07pm GMT, Binance was forced to significantly push back its target for the resumption of trade to 4am GMT on Friday. **EDIT** Seems like its up and runing again but transactions still suspended
I know much more about the stock market than crypto, so I appreciate all this info. I still have scars from the 2000 dotbomb, which set me back quite a few years. Having said all that, let us all make money together. I think it would be pretty cool if years from now we could all brag that we were on VeChain early.
Wow, I haven't posted in years, but do check in this forum for Rockets related news almost daily. Seeing this thread made my login finally! Wanted to add (promise, I'm not shilling here) that you guys should check out $DGB. I'll just leave it at that - fundamentally, imho, one of the strongest tokens around. Combine that with planned 2018 events and current price of entry, it's hard not to have at least a small investment in it. Good luck with your portfolios CF family!
Username checks out. Feel free to join our Clutchfans crypto discord btw, we are very active and happy to share our thoughts. https://discord.gg/SqZgcm
Actual scratch that, I can't ride jack diddly squat if Binance is down lawl. Au contraire, Binance is riding me.
I just noticed that chase hit me with a 22.50 fee on Feb 5th for my debit card purchase the previous week. This is absolute bs. They labeled it a non ATM cash fee. How the hell can they get away with charging a cash advance type fee for me using my debit card?
