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Thread: Need advice from Crypto buffs

  1. #1

    Need Crypto buffs

    *not seeking actual advice, casual conversations only*

    My brother-in-law recently received an expected bonus check from the cushy family owned business he works at. He's asked me for advice (like I know or something) about buying some crypto to hold and or start trading with. He at first was going to try his luck at traditional day trading while at work(where he's supposed to be working for his parents ) but has since been dazzled by the crypto movement.

    He is not tapping into any of his other savings/investments/retirement/children's school funds but he does have about 50 K in his checking that he wants to put towards crypto they also gave him a company car so he's going to sell a couple of vehicles worth about 40k +- in total so we can have some cash to work with as well.

    Thought ask here since I've seen some predictions heard here fulfilled.


    He asked me where to learn about trading at. I've told him to be cautious and to simply read up all he can.

    If you had 50 in checking and 40k cash what would you do?
    Last edited by The Northbreather; 01-15-2018 at 10:22 AM. Reason: Litigious Nanny State Society



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  3. #2
    Nothing I say should be considered advice... good or bad! I am not a certified financial advisor and all that other legal mumbo jumbo.

    Airdrops can be nice. Do you have an account on bitcointalk? If not, get one immediately. This is the granddaddy website, satoshi him/her/them self used to post there back in the day. There is some decent info there on alt-coin announcements on what is coming. Also a lot of total BS. Some of the new coin giveaways posted on that site can be decent. Anyone involved in the ONION airdrops last fall earned hundreds to thousands of coins, the coin has been trading in the $10+ range.

    Or there's always the POS coins and staking. The downside is usually high return staking coins are also alt-coins that may crash at anytime.
    A few coins that have surprised me with staking returns this year have been NMS and XGOX
    I have some NMS, not enough for a masternode. The regular staking is being nicely profitable at the current price of NMS

    XGOX has been climbing rapidly and their staking is rather nice


    For super high risk, things that I wouldn't advice anyone to actually do :

    Some of the most interesting things I've seen recently have been the sub satoshi coins. These are priced against doge or other low value coins. They have huge coin volumes but a few have had over 1 million USD trade volumes.

    Here's one example that just popped up huge overnight.
    https://coinmarketcap.com/currencies/stronghands/

    Masternodes are also a current rage
    These are coins that require a chunk of coins to be locked up. In exchange you get a sizeable percentage of all daily interest on the coins. DASH does this, so do a lot of other new coins.

    Take a look at
    https://masternodes.online/, sort by ROI.

    Some are phasing from total scam coins to somewhat less scammy. NMS is now on cryptopia's exchange which really bounced the price. A month ago you could run a masternode for 1.5 BTC. Now you need 14 as the price just keeps climbing.

    The only actual advice I'd actually give is be careful!
    “…let us teach them that all who draw breath are of equal worth, and that those who seek to press heel upon the throat of liberty, will fall to the cry of FREEDOM!!!” – Spartacus, War of the Damned

    BTC: 1AFbCLYU3G1dkbsSJnk3spWeEwpqYVC2Pq

  4. #3
    day trading is hard. it requires skills and emotional intelligence.

    i would advice him to buy and hodl with 90% and day trade with 10%.

    i would hodl bitcoin, eth , monero, bitshares, pascal, sys, raiblocks and some ripple if he likes banker coin.

    i would not blindly buy and hodl $#@!t coins.

    he should research the coins. sadly he is a noob and will be easily swayed by marketing bull$#@!.

  5. #4
    I've heard Doge coin is good. So coin, much crypto
    It's all about taking action and not being lazy. So you do the work, whether it's fitness or whatever. It's about getting up, motivating yourself and just doing it.
    - Kim Kardashian

    Donald Trump / Crenshaw 2024!!!!

    My pronouns are he/him/his

  6. #5
    //
    Last edited by The Northbreather; 01-13-2018 at 04:40 PM.

  7. #6
    Quote Originally Posted by Mordan View Post
    day trading is hard. it requires skills and emotional intelligence.

    i would advice him to buy and hodl with 90% and day trade with 10%.

    i would hodl bitcoin, eth , monero, bitshares, pascal, sys, raiblocks and some ripple if he likes banker coin.

    i would not blindly buy and hodl $#@!t coins.

    he should research the coins. sadly he is a noob and will be easily swayed by marketing bull$#@!.
    I heard Monero was only for the bad people

  8. #7
    Quote Originally Posted by kpitcher View Post
    Nothing I say should be considered advice... good or bad! I am not a certified financial advisor and all that other legal mumbo jumbo.

    Airdrops can be nice. Do you have an account on bitcointalk? If not, get one immediately. This is the granddaddy website, satoshi him/her/them self used to post there back in the day. There is some decent info there on alt-coin announcements on what is coming. Also a lot of total BS. Some of the new coin giveaways posted on that site can be decent. Anyone involved in the ONION airdrops last fall earned hundreds to thousands of coins, the coin has been trading in the $10+ range.

    Or there's always the POS coins and staking. The downside is usually high return staking coins are also alt-coins that may crash at anytime.
    A few coins that have surprised me with staking returns this year have been NMS and XGOX
    I have some NMS, not enough for a masternode. The regular staking is being nicely profitable at the current price of NMS

    XGOX has been climbing rapidly and their staking is rather nice


    For super high risk, things that I wouldn't advice anyone to actually do :

    Some of the most interesting things I've seen recently have been the sub satoshi coins. These are priced against doge or other low value coins. They have huge coin volumes but a few have had over 1 million USD trade volumes.

    Here's one example that just popped up huge overnight.
    https://coinmarketcap.com/currencies/stronghands/

    Masternodes are also a current rage
    These are coins that require a chunk of coins to be locked up. In exchange you get a sizeable percentage of all daily interest on the coins. DASH does this, so do a lot of other new coins.

    Take a look at
    https://masternodes.online/, sort by ROI.

    Some are phasing from total scam coins to somewhat less scammy. NMS is now on cryptopia's exchange which really bounced the price. A month ago you could run a masternode for 1.5 BTC. Now you need 14 as the price just keeps climbing.

    The only actual advice I'd actually give is be careful!
    Yes thanks, I was going to ask about Dash next.

  9. #8
    Quote Originally Posted by The Northbreather View Post
    I heard Monero was only for the bad people
    there are many reasons why you would want privacy.. good and bad.

    Dash and ZCash are optional privacy. that means you have to actively use the privacy feature. In Monero you don't have a choice so as to avoid transactions standing out which allows tracing techniques to be applied.

    That's why i favor Monero. In Dash if you use private send.. you can be questioned about it by the FBI because of the tracing. In Monero.. you can just say I use Monero. it is my favorite crypto.
    Besides Dash uses coin join and mixing which we all know the FBI is able to unravel. It has been with Bitcoin mixing already.

    Do your research and come to your own conclusions.

    A the best privacy coin WILL BE USED. That's a given. It was the first use case of Bitcoin for buying stuff on the silk road.



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  11. #9
    Quote Originally Posted by The Northbreather View Post
    Yes thanks, I was going to ask about Dash next.
    Dash have master nodes doing the mixing when doing a private send in Dash. If masternodes are somehow compromised... you are $#@!ed. Just like mixing services $#@!ed people in Bitcoin.

    Masternodes are easily trackable by FBI and NSA and can be sub poenaed

  12. #10
    Dash is great - privacy isn't its biggest selling point, even though even if an attacker had compromised a majority of the masternodes, they would still have a very small probability of tracing a privatesend transaction because of the way the masternodes are randomly selected and because there are multiple mixing rounds. Dash mixing was based on CoinJoin but it is an improved version because of how it splits the coins into uniform denominations. The government is more likely to come after you whenever you convert back to fiat or if you use coins to purchase expensive things, when they force you to explain the source of the funds, regardless of which coin you use. Anyway, where Dash really shines is the way it approaches governance, which makes it a potentially great long term hold. This is not financial advice
    Last edited by Crashland; 01-14-2018 at 07:40 PM.
    Hofstadter's Law: It always takes longer than you expect, even when you take into account Hofstadter's Law. -Douglas Hofstadter

    Life, Liberty, Logic

  13. #11
    You know it's sad we have to even publicly say things aren't financial advice because of big brother and the litigious society we're in. While I doubt any of us have to worry about other long time members obviously with the web some random person could find some statement and go ah ha! You're the reason I did something foolish, it must be your fault.

    Just a rant for the evening.

    PS. Don't forget, publisher clearing house is doing their 5K a week for life soon. That could be a lot of weekly crypto buys
    “…let us teach them that all who draw breath are of equal worth, and that those who seek to press heel upon the throat of liberty, will fall to the cry of FREEDOM!!!” – Spartacus, War of the Damned

    BTC: 1AFbCLYU3G1dkbsSJnk3spWeEwpqYVC2Pq

  14. #12
    Quote Originally Posted by Crashland View Post
    Dash is great - privacy isn't its biggest selling point, even though even if an attacker had compromised a majority of the masternodes, they would still have a very small probability of tracing a privatesend transaction because of the way the masternodes are randomly selected and because there are multiple mixing rounds. Dash mixing was based on CoinJoin but it is an improved version because of how it splits the coins into uniform denominations. The government is more likely to come after you whenever you convert back to fiat or if you use coins to purchase expensive things, when they force you to explain the source of the funds, regardless of which coin you use. Anyway, where Dash really shines is the way it approaches governance, which makes it a potentially great long term hold. This is not financial advice
    I would have looked into Dash but the initial core dev pre mined 2 millions Dash with his bugged software. It is disgusting. I am not making him richer.

    But i guess it is hard to avoid those premined crap. Everyone is doing it. Steemit premine to 87% their own tokens. Bitcoin was premined by Satoshi you will answer. Except nobody knew about Bitcoin back then. Now.. Dev teams use tricks and cheats to premine their coins and make believe noobs that their coin had a fair distribution.

    PS: you obviously can make a ton of money buying premined coins.. I know people who bought Dash in the low 2 digits.
    Last edited by Mordan; 01-15-2018 at 06:00 AM.

  15. #13
    Quote Originally Posted by kpitcher View Post
    You know it's sad we have to even publicly say things aren't financial advice because of big brother and the litigious society we're in. While I doubt any of us have to worry about other long time members obviously with the web some random person could find some statement and go ah ha! You're the reason I did something foolish, it must be your fault.

    Just a rant for the evening.

    PS. Don't forget, publisher clearing house is doing their 5K a week for life soon. That could be a lot of weekly crypto buys
    I put some disclaimers in the O.P. .....

  16. #14
    Quote Originally Posted by TheTexan View Post
    I've heard Doge coin is good. So coin, much crypto
    Doge long FTW

  17. #15
    Guess now would be a good time....



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