AAAgent's Crypto Journey

[AAAgent]

Essentially these ICOs are just tech companies looking to raise cash? So the only difference between these and a traditional IPO is the medium of exchange, the lower costs and the ease of access. Essentially it's crowdfunding with cryptocurrency. Right?

Yes. Most are only ideas and don't even have products or platforms so when you buy in, you have to be VERY VERY selective. Review the team, their experience, the coding if possible, etc. The only reason certain ICO's have promise is because of the DECENTRALIZATION of the blockchain.

 

[BeTheChange]

To the idiots still thinking the stock market, bonds, real estate right now are great investments, here's Robert Kiyosaki calling you all idiots. I agree with him.

So you're not a fan of traditional investments at all?

I still have c. 80% of my investment capital in real estate and equities and only 0.5% in crypto but hoping to up this to 10% as I grow more confident.

You were right. There's a lot to take in. Will need a few months of solid analysis to truly understand this market comfortably. So basically the steps are:


1) Get a secure Wallet offline. Software first and then eventually transition to a more expensive hardware wallet.

Currently using Exodus

2) Sign up to several exchanges that allow for purchase and sale of multiple cryptocurrencies

Currently on coinbase which only allows you to buy and sell ETH, BTC and LTC. Know any others that have a wider range?

3) Download crypto mining software

Any you would recommend?

4.1) Trade cryptocurrencies for profit

4.2) Participate in ICOs, with appropriate due diligence as with any investment

5) Get rich!


Also, there is a free course on coursera by a Princeton professor on Bitcoin and cryptocurrencies. Going to look into it.

 

[AAAgent]

So you're not a fan of traditional investments at all?

I still have c. 80% of my investment capital in real estate and equities and only 0.5% in crypto but hoping to up this to 10% as I grow more confident.

You were right. There's a lot to take in. Will need a few months of solid analysis to truly understand this market comfortably. So basically the steps are:


1) Get a secure Wallet offline. Software first and then eventually transition to a more expensive hardware wallet.

Currently using Exodus

2) Sign up to several exchanges that allow for purchase and sale of multiple cryptocurrencies

Currently on coinbase which only allows you to buy and sell ETH, BTC and LTC. Know any others that have a wider range?

3) Download crypto mining software

Any you would recommend?

4.1) Trade cryptocurrencies for profit

4.2) Participate in ICOs, with appropriate due diligence as with any investment

5) Get rich!


Also, there is a free course on coursera by a Princeton professor on Bitcoin and cryptocurrencies. Going to look into it.

The stock market as I've stated in the past, is the governments way to enslave you to their system. 401k, bonds, etc. are all long term shackles. Not only are they shackles, they manipulate the sh1t out of those securities. Money printing, 0 to negative interest rates, bailing out banks, HFT, etc. It's a lose lose game once you go play. You may win for a short period, but if you hold a 401k or bonds (which are also in a bubble), you're screwed. Real Estate, if you do it properly i'm sure can be lucrative, but it's a depreciating asset that requires a lot of maintenance.

 

[PrettyBoyAJ]

Real estate isn't necessarily a depreciating asset. It is an asset that goes up and down. In that video Robert is saying that buying a house to just live in isn't an asset. He has some good principles but I wouldn't focus too much on him as he is always selling a book and always selling a seminar.


AAA your are a smart guy and I've seen you post on the boards for a LONG time. I believe you when you say crypto is the future. This is gonna be great way to lead us to financial freedom before everyone catches on.

So I've put in some money in Eth and I'm still learning. Hoping to do research on some ICO and invest hopefully in some of them.

 

[BeTheChange]

Looking into trading on margin to enhance returns. I don't mind leverage as I'll be increasing it even further with my next property purchase end of this year. If I can borrow at 3% and make 20% ROI I don't see the problem given job and business stability (and a suitable cash cushion).

What are your thoughts about trading on margin fellas? @AAAgent @PrettyBoyAJ

 

[AAAgent]

Real estate isn't necessarily a depreciating asset. It is an asset that goes up and down. In that video Robert is saying that buying a house to just live in isn't an asset. He has some good principles but I wouldn't focus too much on him as he is always selling a book and always selling a seminar.


AAA your are a smart guy and I've seen you post on the boards for a LONG time. I believe you when you say crypto is the future. This is gonna be great way to lead us to financial freedom before everyone catches on.

So I've put in some money in Eth and I'm still learning. Hoping to do research on some ICO and invest hopefully in some of them.

My thoughts on real estate are that it was meant for everyone. Realistically, and how it used to be was that everyone and anyone that worked, had a means to buy their own home and pay it off in 15 years or less. Now, it's not reasonable and you are locked into a 30 year mortgage (15 year isn't even a realistic option for most people, even on two incomes). Houses in actuality should depreciate because of wear and tear but because of our ridiculous monetary policy, the housing boom (bust), 15 year mortgages now made obsolete by 30 year mortgages, we have become enslaved to our own homes, after being brainwashed that we HAVE/MUST buy homes which only drives home values up and up.

The smart people take advantage of stupid economic policy and buy real estate at dirt cheap interest rates and prices and this is all at the expense of the common people who don't know any better. They didn't understand that 0% interest rates and at such low home values in 2012, that it was free money to buy and economic policy would drive real estate through the roof. There are also plenty of other stupid economic policies out there to fleece the poor and make the rich richer, while seemingly are meant for the greater good of the people. The rich get richer buying homes and renting to the poor. The poor get poorer because not only are our rents rising because of the vast amount of people who can't buy, but the poor who have managed to save, are punished by 0% interest rates and receive no benefit for saving all the while housing prices get higher and higher while we are saving. So it's like buy now and get locked into a 30 year mortgage I can barely afford, or keep saving and have housing values increase while I save. Lose lose.

This all happened when I was in my early 20's before I had capital and before I understood all this manipulation. Imagine if I knew what I knew now, I would have bought into the stock market with a huge chunk. Low interest rate policy means little to no returns in any interest bearing security forcing people to buy stocks. When Europe is facing debt crisis and collapse of banks and countries, Japan going through the lost 2-3 decades, America is the shining star at 0% interest rates with 3 rounds of Quantitative Easing (money printing). We're the cleanest dirty shirt in the hamper so Japan, Europe, South America (going through depression/hyper inflation), all send their money to invest in our securities and currency. Not because we are great, but because we are the least sh1tty.

I also don't like Robert Kiyosaki at all. Too ****y for my taste. But many people call me ****y. I try not to be but i think it's a result of learning so much sh1t in a short period of time when I'm used to being behind the game, i'm now ahead of the game in most aspects so I assume people understand the sh1t that i'm saying when they don't.

When you learn how much government fvcks you at the expense of you all the while making you believe its for the greater good, or at best, confusing the sh1t out of you so you don't understand, it irritates if not infuriates you.

--End of rant

 

[AAAgent]

I believe you when you say crypto is the future. This is gonna be great way to lead us to financial freedom before everyone catches on.

It will be a LONG TIME before everyone catches on. Less than 1% of the entire population are in crypto's is my guess. Some places of the world still don't have the internet. My guess would be we have atleast 6-18 months to make a fortune, 12-24 months for everything to settle before mainstream fully adopts, then a slow and gradual 24+months from now, mass market adoption slowly start to take place over the course of 2-10 years.

I try to factor in the dotcom boom timeline as well for historical references. When you look at ICO's look for the next yahoo, google, amazon, netflix, apple, microsoft. Not the pets.com's.

 

[AAAgent]

Looking into trading on margin to enhance returns. I don't mind leverage as I'll be increasing it even further with my next property purchase end of this year. If I can borrow at 3% and make 20% ROI I don't see the problem given job and business stability (and a suitable cash cushion).

What are your thoughts about trading on margin fellas? @AAAgent @PrettyBoyAJ

Gotta spend money to make money. I don't recommend it, but I did it. I also don't sleep well and get sick to my stomach at times. Make your own decisions. My mistakes and successes I own.

If you do leverage, pay it off asap. It will help you sleep better.

 

[PrettyBoyAJ]

@BeTheChange

I wouldn't recommend it. But I don't have the best knowledge of Crypto just yet. How much money have you already invested in Crypto and what has been the ROI?

For me I'm in the red for now but that'll turn around real soon. I'm currently only vested in Ethereum.

@AAAgent

Spot on as usual. Must be able to spot the big boys from early on.

 

[AAAgent]

I converted a bunch of my DASH over to LTC last week before the pop. LTC seems like it has a ways to increase and a good investment. BTC is obviously solid (with all political infighting aside), ETH is in huge demand, LTC still seems relatively undervalued. It's almost a smaller clone of bitcoin that has 4x the supply with similar code. What scaling features BTC is trying to implement now, LTC has already implemented. I'm pissed I sold have my LTC because of wasn't moving when I wanted to, but luckily I got back in early.

There will be good money made on the more well known crypto's but fortunes will be made on ICO's.

Veritaseum made it into top 15 market cap yesterday. Was hovering around $230 for a brief few minutes and holding around $200. If and when it hits Bittrex/poloniex, I'm expecting $500 per token if nt closer to $1k. If you're wondering how I'm planning on hitting 7 figures, it's not hard when you buy at $6 and sell for $500-$1,000.

I bought Populous at $0.33. and I'm expecting it to 20x. Even 10x i'd be happy with but there are orders for 10-20x and it hasn't even hit 1 exchange yet. Pick them well guys as some coins are coming out at ICO price and tanking, or hitting 2-3x and then tanking.

AdEx is up about 40% from ICO price and is only on one small exchange.

 

[PrettyBoyAJ]

Have you done any research on Siacoin? What is your thoughts on that.

Also keep me posted on some of these ICO. Will be using my Eth to buy some next time I see a good one.

 

[AAAgent]

Yeah, I wrote about Siacoin previously I believe. It's similar to Golem but for decentralized cloud storage that takes users who opt in to the sia platform to sell their storage space off in return for Siacoin. You can also buy storage space in Siacoin as well. Since it's essentially thousands and millions of computers that are participating in this cloud storage platform, your information will be spread out across the entire decentralized system. No one will ever be able to access or view your information like Google and Microsoft can and probably are currently doing. Good concept but still long road ahead like Golem. It's priced at 5-10% the cost of cloud storage compared to dropbox, microsoft, amazon, etc. I held some before but i'm out to make money FAST and this is not one of those coins that's going to do anything in the next 6 months. I think it's a long term decent hold but i'm out fishing for ico's and sleepers.

 

[PrettyBoyAJ]

Thanks for the explanation. So what new ICO's and sleepers are one your agenda today. Ethereum is definitely on a slow role right now. Goes down, goes up. Nothing drastic at all.

 

[AAAgent]

I'm bullish on the following below

LTC
Veritaseum
Populous
Cloak
AdEx

I'm preparing my next batch of ICO's but I need to liquidate some funds and talk to my accountant next week to figure things out. Will keep you guys posted.

 

[PrettyBoyAJ]

When do you think the rise of litecoin will go?

Do you think we should get an accountant because of investing in Crypto or have you gotten one because you did so well?

 

[AAAgent]

When do you think the rise of litecoin will go?

Do you think we should get an accountant because of investing in Crypto or have you gotten one because you did so well?

When you get to the point where you need to worry about taxes, get an accountant. I'm at that point.

 

[AAAgent]

When do you think the rise of litecoin will go?

I'm not a fortune teller but I expect atleast breaking 100. Timing? Who knows.

Gotta do more research! I do atleast 5-10 hours of reading, watching, and listening of research EVERYDAY! If you are not doing the same, you will be left behind.

Litecoin is basically a baby bitcoin. Built off of bitcoin open source code (slightly modified) and meant to be a smaller version. BTC has a max finite supply of 21 million. LTC is meant to be 4 times smaller than BTC and therefore has 4x larger supply with max being 84 million (21x4=84). Again, code is very similar. All the improvements Bitcoin is trying to make, they test it on litecoin first. Segwit --- is a type if blockchain improvement for bitcoin that will reorganize the block to be more efficiently processed. It needs 95% adoption by bitcoin miners to adopt before the code can be ran and increase transaction times for Bitcoin. They've been battleing for BTC to implement segwit for months and still have not done it. LTC did it back in April. LTC will soon implement lightning network which will improve it further and BTC will eventually implement lightning network after segwit.

Everything about LTC is screaming undervalued. No political squabbles that bitcoin is facing. Finite supply and basically 1/4 of a BTC valued at 1/50. If BTC transaction time stay this slow (which they currently take up to a few hours), more and more people will stop using BTC to transact and find another means. LTC takes minutes to transact. With Lightning network, I believe it will take seconds to process a LTC transaction. People call it silver to bitcoins gold and I believe it might just be that. I invested a lot in it before but it was literally doing jack. I hopped off to find better investments and im back on board now. Never stopped believing, but i'm about making money. If the train is moving, i'm hopping on so I don't miss the ride.

I could be totally wrong but with all the political battles going own between the Chinese bitcoin miners who have virtually monopolized the BTC mining industry and the BTC coders who have been working on improving BTC since BTC has been in existent, I'd rather be in LTC that has all the benefits of BTC and none of the drama.

My friend supports the miners and I support the developers and theres people on both sides.

 

[PrettyBoyAJ]

That's good, I don't need an accountant now because I'm taking L's so far. Why are the websites that you are doing research on.

I checked out the YouTube Ivan and he has a lot of information. A lot of stuff is going over my head now though.

 

[AAAgent]

That's good, I don't need an accountant now because I'm taking L's so far. Why are the websites that you are doing research on.

I checked out the YouTube Ivan and he has a lot of information. A lot of stuff is going over my head now though.

It's like that for all of us. Just keep putting in the time.

Look up Bitcoin 101 on youtube and watch the video with the most hits

Ethereum 101

Litecoin 101

Block chain 101

Why are people buying bitcoin 101

watch and absorb everything. If you don't understand something and it sounds interesting watch it again. Watch videos related to it. I learned about the bitcoin political battle 2 months ago. I did not really understand what was going on until 1 month ago. I could not speak somewhat intelligently about it until about 2 weeks ago. Read, absorb, and digest. THen, rinse wash and repeat.

You don't know how many things flew right over my head when I first started learning about gold and silver (my pre cursor to crypto). A lot of sh1t did not make sense for years. I would process what did make sense and just keep on trucking. Eventually, if you keep learning, you'll find that one missing piece of the puzzle that makes all the crap that didn't make sense before, now make sense.

That's how it works. I'm not the greatest with technical stuff, I just learn enough to understand the basics. What I like to do is vet people I follow and learn from. Once I vet them which may take months/years, I let them do the legwork for me, double check it and go make my decisions off of that. My specialization is finding answers and opportunities and often times the best way to do that is to learn from experts in the field.

The people I follow are heavily into economics, gold, finance, and crypto. Remember to take everything in with a grain of salt and make your own decisions. Some of the guys I follow are religious nuts and i'm a Buddhist. All that g0d mumbo jumbo, I just let blow right over. If you firmly believe in something and they are saying something that contradicts that, either re-evaluate your position, or just tune out that part and take in what does make sense.

Ivan on tech - best crypto 101 stuff
Boxmining - good crypto 101 stuff
Road to roota - laxed finance, politics, and crypto
Greg Hunter (USA Watchdog) - heavy finance, economics, and politics
Crush the street - heavy finance, economics, and politics
x22 report - heavy finance, economics, and politics
SGT Report - heavy finance, economics, and politics
JSNIP4 - heavy finance, economics, politics and recently crypto
Clif High - global climate, finance, economics, politics, and crypto
Ameer Rosaic - good crypto 101
Rogue Money - finance, politics, economics, etc.
Greg Mannarino - finance and economics

 

[AAAgent]

I'm not the greatest teacher and a bunch of you have asked me questions. What i'm good at is finding information, so as a benefit to the community here that would like to learn more about Crypto, watch these videos below. This is assuming you've done a 101 on BTC and ETH.

Ameer Rosic - How to Invest in crypto currency

Ameer Rosic - Top 5 Crypto currency

Ameer Rosic - Top 5 Best Cryptocurrency wallets

Ameer Rosic - ICO Pro's and Con's
https://www.youtube.com/watch?v=toekAsw6MCA

Ameer Rosic - What is a smart contract (basically ethereum's entire platform is built for smart contracts)
https://www.youtube.com/watch?v=qdoUpGg_DpQ