Remove this Banner Ad

Cryptocurrency mega-thread

🥰 Love BigFooty? Join now for free.

Pentoshi is now joing the Merit Circle development team to help build their future NFT and gaming platforms. Has made enough money from trading, so will take a step back from that do join MC. This is pretty massive, one of the most respected traders in crypto joining the team. He only got in during the Copperlaunch like the rest of us could have (~2.50 average buy price) and loves the project that much to make this step.

His Twitter bio says 'Head of Partnerships' at MC

 
Last edited:

Log in to remove this Banner Ad

MirosWife said:
I find people on Twitter are always bullish no matter what on crypto. When in reality we have gone through years of bear markets before.
Click to expand...
You're not following the right people then. The ones I respect most are very bearish right now, for good reason too. It is expected that the CPI numbers in the US will be higher than expected when released for November today, that's getting priced in. Asian markets have been aggressive BTC sellers all week since the Evergrande news as well.

Bulls are holding the line at the 50 week moving average, until that is lost for a prolonged period, bullish structure remains. However, after seeing what happened at these levels in May, my prediction is a month or two of sideways ranging at these levels, before a breakout in Feb/March (XRP case with the SEC settling could be a trigger for this). This is all dependent on keeping the 50 week as support; flip into resistance and I will be selling the majority of my holdings on any minor bounce.
 
Hi Guys,

Sorry if this information has been posted previously but i'm a relative beginner looking at investing in Crypto. Have been watching some videos etc but there is soo many videos it can become confusing. Wondering if there is a general consensus on some basic Cyrpto information that i could watch/read to get more knowledge?

Also i will most likely be a very basic investor to start out (buy some different shares and hold), is there a well regarded coin exchange that's reliable and safe to use?

Again sorry if this info has previously been posted but in my short search i couldn't see anything. Any other advice you might have would be welcomed as well.
Thanks in advance.
 
dees 4 life said:
Hi Guys,

Sorry if this information has been posted previously but i'm a relative beginner looking at investing in Crypto. Have been watching some videos etc but there is soo many videos it can become confusing. Wondering if there is a general consensus on some basic Cyrpto information that i could watch/read to get more knowledge?

Also i will most likely be a very basic investor to start out (buy some different shares and hold), is there a well regarded coin exchange that's reliable and safe to use?

Again sorry if this info has previously been posted but in my short search i couldn't see anything. Any other advice you might have would be welcomed as well.
Thanks in advance.
Click to expand...

Welcome

if you are looking at DCA (Dollar Cost Averaging). Bamboo is a good easy app to understand to start. The one drawback is that you don’t actually get access to your wallet so you can’t send your crypto to other crypto wallets. It links to your bank account though so you can send money back and forth no issues.
Coinbase and Coinspot are good easy to understand exchanges but there fees are high.
Binance is what I use now. Might be a bit more to get your head around but it’s easy to send money to your ‘spot’ account to just buy and hold

I’ve been listening to some podcasts from Bamboo which are very basic and easy to understand podcasts on what crypto is. Podcast is called Crypto Curious
 
Chris25 said:
Time for a separate Merit Circle/shilling thread?
Click to expand...
Haha, like me shilling it in here makes any difference anyway, there are enough people with way larger audiences doing that on CT. A few in here have also invested in the project and I follow it closely so will post relevant updates. Whether you choose to invest in MC is up to you, I'm just posting free information that anyone can find.
 
dees 4 life said:
Also i will most likely be a very basic investor to start out (buy some different shares and hold), is there a well regarded coin exchange that's reliable and safe to use?
Click to expand...

Swyftx.com.au
 
dees 4 life said:
Hi Guys,

Sorry if this information has been posted previously but i'm a relative beginner looking at investing in Crypto. Have been watching some videos etc but there is soo many videos it can become confusing. Wondering if there is a general consensus on some basic Cyrpto information that i could watch/read to get more knowledge?

Also i will most likely be a very basic investor to start out (buy some different shares and hold), is there a well regarded coin exchange that's reliable and safe to use?

Again sorry if this info has previously been posted but in my short search i couldn't see anything. Any other advice you might have would be welcomed as well.
Thanks in advance.
Click to expand...
Welcome.

Swyftx is your best exchange as a beginner. They are Australian and user-friendly.

As for resources, and as mentioned only yesterday in this thread, Coin Bureau delivers some very good and well researched content. He's not a paid shill like many others.

DCA into projects. If you have $5000, don't invest it all today. Do a bit now, a bit next week, a bit the week after. The idea behind this is that the markets are unpredictable. You'd hate to invest it all today and be -20% next week.

My biggest piece of advice is to have a well balanced portfolio and do not coin hop.
 

Remove this Banner Ad

Will be chop city tonight and over the weekend I reckon, doesn’t sound like the CPI numbers coming out in the US tonight are favourable for Risk On
 
MirosWife said:
I find people on Twitter are always bullish no matter what on crypto. When in reality we have gone through years of bear markets before.
Click to expand...
The question I'd like to see answered is who is left to buy our bags? For a parabolic run, you need a lot of dumb money FOMO'ing in at the top.

We saw that effect with DOGE already. Retail isn't interested in BTC at 60k+, so there's no fuel for a shitcoin season like eoy 2017.

The bullish scenario is that we have a higher macro top (65k vs 69k). If we have a macro lower high, there might be fuel for another pump over 70k. I think 100k BTC is out of reach for this cycle.
 
So uh, what's the next Shiba/Doge gonna be guys? Asking for a friend.

Nah, I'm thinking of transferring the 100 dollars in my Vanguard account to my coinspot account, loading up on binance and making a play for a new shitcoin. Already have 193b pitbull tokens and 302k floki tokens.
 
dees 4 life I have Swyftx, Kraken and Binance accounts. As others have said, don't invest too much and all at once, especially as we seem to be on a bumpy ride at the moment. You only learn by doing, so go for it. A few thoughts and tips below:
  1. My first trade: late last year I deposited AUD200 into Kraken, made sure it arrived, changed it to USD, bought DOT and then started staking it a few weeks later when I realised that this was a thing.
  2. I suggest first looking at Swiyftx as others have recommended. Swiyftx just started staking as well, which is a bonus. I opened accounts to show my children how to trade and will give to them when they are 18.
  3. Kraken is relatively easy to use as well IMO and if you want to stake (limited choices), your earnings go straight back into your staking account unlike Binance. Great for HODLing for beginners as you don't need to do anything. Kraken APP is fairly 'crappen' though.
  4. I almost exclusively use Binance. It is not too much harder to buy crypto on Binance than Kraken and there are plenty of demo videos available; however, there is a steep leaning curve to use the site as there are way too many different options/opportunities. Binance APP can also be confusing to use but has great utility. If you know someone who can help you and/or you really want to learn and spend time, then this is good option.
  5. I found depositing AUD easy using OSKO or PayID, which is free and very quick. Paying by credit card costs and you get less crypto.
  6. I almost always trade in USD (usually via stable coins). If you want to buy or sell in AUD, monitor both pairs (e.g. DOT/AUD and DOT/USDT), as there can be differences in prices, often due to low volume or sometimes manipulation.
  7. Don't do leverage trading for quite awhile (or ever).
  8. Familiarise yourself with Australian tax rules before you do too much trading.
  9. Later when all is settled, look into using a Hardware wallet (and buying some shitcoins).
 

🥰 Love BigFooty? Join now for free.

Evolved1 said:
The question I'd like to see answered is who is left to buy our bags? For a parabolic run, you need a lot of dumb money FOMO'ing in at the top.

We saw that effect with DOGE already. Retail isn't interested in BTC at 60k+, so there's no fuel for a shitcoin season like eoy 2017.

The bullish scenario is that we have a higher macro top (65k vs 69k). If we have a macro lower high, there might be fuel for another pump over 70k. I think 100k BTC is out of reach for this cycle.
Click to expand...

Financial Instiutuons / Super funds / Big companies diversifying their balance sheet.
Adoption by other 3rd world countries to make BTC legal tender. More retail investors looking to ‘dabble’ in crypto.
 
MirosWife said:
Financial Instiutuons / Super funds / Big companies diversifying their balance sheet.
Adoption by other 3rd world countries to make BTC legal tender. More retail investors looking to ‘dabble’ in crypto.
Click to expand...
We've already had adoption from financial institutions, primarily Tesla and Microstrategy. Any corporate entities that haven't been onboarded already probably won't want to dip their feet in during this cycle.

Developing world adoption is more a long term win afaic, with little effect on prices in the short term.

I don't see there being a lot of new potential retail buyers left. Nearly all who wanted in have already bought.
 
Coolangatta said:
So uh, what's the next Shiba/Doge gonna be guys? Asking for a friend.

Nah, I'm thinking of transferring the 100 dollars in my Vanguard account to my coinspot account, loading up on binance and making a play for a new shitcoin. Already have 193b pitbull tokens and 302k floki tokens.
Click to expand...
Opcat probably worth a look, supposed to be releasing their version of Pancake Swap / UniSwap next week. Was some huge buying yesterday and pumped hard and has managed to hold up well today.
 
Evolved1 said:
We've already had adoption from financial institutions, primarily Tesla and Microstrategy. Any corporate entities that haven't been onboarded already probably won't want to dip their feet in during this cycle.

Developing world adoption is more a long term win afaic, with little effect on prices in the short term.

I don't see there being a lot of new potential retail buyers left. Nearly all who wanted in have already bought.
Click to expand...
I wasn't in Crypto at the time but I remember there being a huge boost a few years ago around xmas time(was it 2017?), is it possible families coming together could spread word again? But for the word to be positive we would want to see some more growth before xmas.

Or another covid winter lockdown for the northern hemisphere might stimulate retail. But Im nt sure how any government can further getaway with lockdowns with high percentages of 'vaccinated'.
 
Evolved1 said:
We've already had adoption from financial institutions, primarily Tesla and Microstrategy. Any corporate entities that haven't been onboarded already probably won't want to dip their feet in during this cycle.

Developing world adoption is more a long term win afaic, with little effect on prices in the short term.

I don't see there being a lot of new potential retail buyers left. Nearly all who wanted in have already bought.
Click to expand...

A lot of it is drive on sentiment. If Amazon came out tomorrow and said we will be accepting Bitcoin as a form of payment you’d see a lot of fomo.

There Aren’t that many big non crypto companies who have bought BTC. Maybe a dozen. Still thousands globally that could buy 1-5% of their balance sheet worth that would send the price skyward

Can’t keep relying on Michael Saylor to buy all the dips lol
 

Remove this Banner Ad

Remove this Banner Ad

🥰 Love BigFooty? Join now for free.

Back
Top Bottom