Is Cryptocurrency a Good Investment? | Phil Town

Thanks for watching today everyone, talking about this Crypto stuff is fun! Curious what your investing personality is? Take this quick quiz and find out: http://bit.ly/2Jjt3Kn

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Yes it is. i heard about coinicocrypto from Quora and i am so glad i invested. I invested on @t and i can see my investment growing on the dashboard already. Thanks to Quora for giving us this opportunity to make so much money

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This is a great one but I feel cryptocurrency without privacy would really not go long way. Cryprocurrency is actually a good investment but when one picks good coins. This is why I seriously recommend privacy coins to be really adopted. Well, so great there are coins like Veil and monero.

Bitcoin is high risk high reward. What other investment could 10x your money in 5 years. Virtually nothing

Ha as someone said… its great to hear an older person try to talk about crypro.. . and then try to compare it to something that has been ingrained in them for 40 or 50 years.

Some people cant seem to accept the opportunities of the future will be and are radically radically different to yesteryear.

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The current trend of HODling currency for life from a financial point of view is a wrong strategy for profiting. There is a major difference between stocks which can be based on professional advice held and currencies (cryptocurrency) and this is because most of them are hypes and highly speculative. I myself have made over $80,000 in the last 2 months day trading my BTC which I am sure would be a fantasy if I where HODling. I used a trading system developed by Mr. Jame Long and with his trade pattern and signals, I am aiming for greater highs. If you have any inquiries, you can reach him on **(jameslong241 @ Gmail. com) WhatsApp***1 (631) 364-4612.

Great point of view for crypto investing! It’s important to keep in mind the long-run implications of crypto, which far exceed its short-term gains. Investing short-term is an issue because A) the short-term does not reflect the true value of cryptocurrencies and B) in the short-run too many retail investors are investing money which they can’t afford to lose. E.g. if you have an income of $2000 , and you invest $1200 to make a “quick buck” but your investment goes to $700, you have no option but to pull out to cover some of your basic living expenses (rent/utilities etc.). And therefore we see crashes in the short run. Think 3-5 years ahead and consider it an investment into a new technology rather than purely an investment!

It is always great to look at have a look at different explanations as well as try to understand Cryptocurrency and compare different types o cryptocurrency. There is a wide range of CryptoCurrencies to choose from like Bitcoin, Ethereum and Litecoin. When first entering the CryptoCurrency market, it can be hard to know which is the best CryptoCurrency network for you. If you would like to have a broad look and compare the different CryptoCurrencies available to help you make an informed decision the below helped me.
https://www.cryptofish.com/blog/ethereum-vs-bitcoin-vs-litecoin-which-is-best-for-you/

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I love that you hit on this Phil! I just started to learn how to trade in crypto and thought of the same thing. I don't have a large capital to invest in dividend stocks to make me a real passive income, but I learned a while back on how to deal in the Forex currency. So I am familiar with the volatility and feel at home in it. A great way to make money in crypto currency is through doing position trading (but I sometimes do swing and day trades on the platform). Once it stabilizes in a few years (I give it 2) and becomes more regulated it will lose some of it's volatility and will be the future in investment in my opinion and those of many millennials. So now is the time to trade in crypto currency. It burst its bubble making it affordable and its pattern shows another upswing yet to come. To me the edge is in your buying position on one of the coins. Buy as many of the coins you can for leverage. Figure out when it reaches the apex of resistance sell off the profit it made that day or for as long as you held it, but keep the rest of your share until it dips back near the number of your starting position (the average cost you started with [that is key to me]) then buy some or all of it back in unless you want to sell it. It will show a pattern like other stocks, but the pattern can be and will be offset by a "whale" scenario, pump and dumps and so forth (manipulation by its own company, who knows) so that's why it needs to be more regulated then it already is. Once it does then things will calm down and make it more of a platform to invest. Until then it's the wild west for the daring and foolish investor, lol.

they're still currencies it's as if you bought pounds and sold them for euros it's gambling

Crypto is the way of the future.

Who cares if its an "investment" or not, all i care about is if i make money

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Guess what dude your wrong. People value this for buying things they can not buy with cash. And if I bought just 1 but coin for 6$ when it came out I would have about 10k$ for that one coin.. so… yeah

I'm sorry Phil, I don't completely agree with you a 100%

On a risk adjusted basis, Bitcoin has out performed every other asset class over the past 10 years…https://www.f0x.tips/b3a1c3e0 – technology and progress always has a way of bypassing old timers like Warren and Phil because they haven't taken the time to understand it and they are married to what has worked in the past.

You are right, its like gold. When all crypto's are mined, maybe there will be rapid growth in its value. Hmmm….

Electroneum (ETN) looks like a solid investment

There's no tech behind the coin? I agree it's a little complex, i respect your hair color (wise and aged man), you do understand about stock's! You have to research more, it's clear that you have almost no idea about this topic.

I'm all in on shitcoins. Go hard or go home!

I think investing in the right blockchain projects has huge potential. In my opinion its the biggest revolution we will see in our life time that will change the world. I think its risky and a bit of a gamble depending on what you invest in but i would rather risk losing two or three years of accumulated investment than look back thinking i knew about a certain project and now its worth millions and didnt invest. I would regret that more.

I've made money in Cryptocurrencies even when the market is down. Check out the Dow of crypto, the Coinmarketcap site, and sort on percentage gain, and try to find those kinds of coins.

To find an edge in any market one needs to know what one is doing, so if there is not sound record keeping to determine if your strategy has an edge you are guaranteed to loose money. For me, I use a top-down multiple TimeFrame analysis to stack odds in my favor so I’m not fading the wrong side of the market. Risk management is key; R- Mutlples works just as well here as in any market and perhaps even more important (never risk more than 1.5% to 2% per trade). I stack odds by doing my homework; no, I don’t sit there and fade momentum candles hoping to bounce off a big zone. That works in professional markets, like the ES. Cryptos are volatile because they are traded by amateurs and do not have an institutional edge (smart money buys Crypro OTC)that you find in the SP 500 in the first hour of the trading day because institutes have their orders lined up on the exchanges the night before. You have doctors and lawyers trading in the weekend or worse, bots, designed to induce fakeouts so that the armatures can pay their rent. You need backtest, record, repeat and trade your strategy. Do not think you can scalp this and fade tails, you will loose money!

There are 2 kind of cryptos in my opinion:
1. Replacement currencies (Bitcoin/Monero/Zcash)
2. Dapp developers/ project platforms (Ethereum/Eos)

If you put money in 1. you are always speculating. If you invest in 2. you are not necessarily specualating.
Am i wrong?