The old trolls returning I note. Bless them!
A bit late for the party, I guess the news travels slower if you're out of date, and not getting wealthier because you hold the right coin
Wut? looks like I was right on time.
But yah, hodling the right coin is key.
I meant theoretically, the coldest, smartest cash was all in (or long) around $160 and cashed out over $295 - an opportunity which it is now too late to benefit from.
Going short now is potentially a little late, too - but nonetheless an option of course. Monero certainly has enough liquidity for any bet one could wish to make.
Lastly trolling is an option, too - for those who can't afford to bet, or have psychopathic, narcissistic personalities and cannot help it. Unfortunately it seems it's never too late for that...
At least we agree hodling is the right coin is the best policy as some lucky ones here have been with XMR since sub 30c.
I prefer the long term perspective so I will repost my post from December 2014, during the depths of the Monero bear market:
Anyone foolish and/or desperate enough to sell at 0011 is foolish and/or desperate enough to sell at 0010. We have an existence proof now. "Lunatic fringe, I know you're out there."
I am hoping for 00085 to touch. Reducing my buy rate. Stocking up on bitcoin below 340usd and waiting for more ask liquidity in XMR.
These plateaus usually break down by the time they are a week old. If BTC goes lower, XMR is likely to go lower as well, making the effective leverage on the future all the greater.
Patience and discipline.
Yep, ready to buy at 80k sat
While it may be possible that XMR may reach 80k sat or lower, making selling for 111k sat and buying for 80k a profitable trade there is an old saying in the markets that is very appropriate here.
Bulls make money, bears make money, pigs get slaughtered
http://wiki.fool.com/Bulls_make_money,_bears_make_money,_pigs_get_slaughtered. One should also keep in mind that there are typically two sub species of pigs in the markets. Bull pigs (buy high, hope to sell higher) and bear pigs (sell low, hope to buy lower) and both get slaughtered.
This time of the year another sub spices of pig emerges known as the tax pig. The tax pig sells low (or buys high) with the primary objective of lowering the tax payable to some state. The tax pig then waits a prescribed amount of time (this depends on the tax legislation of the target state) and then hopes to buy back lower at the same price or even slightly above (sell higher, at the same price or even slightly below). The tax pig in this process first pushes the bear pig (or the bull pig) to the slaughter and then also gets slaughtered.
What I have found that works for me, first with Bitcoin and then with Monero is:
1) Start with a project with good long term fundamentals. This requires careful reserach. Right now among the top crypto currencies only Monero meets this criteria, in my opinion. I came to the conclusion in 2015 that even Bitcoin fails this test because the Bitcoin protocol does not support scaling, and likely cannot without violating its 21 million maximum Bitcoin limit. Long term fundamentals are critical because one needs to be able to ride out brutal bear markets. I actually bought XMR at ~4 USD in 2014 before XMR went below 0.30 USD.
2) Go long and take delivery. Invest only money one can afford to loose, and for best results acquire a position over time. Going short is a prescription for financial disaster. One wants to take the long side of the trade and take delivery. Not only is taking delivery a time tested way to squeeze shorts to the wall, but the short history of crypto currency is littered with the carcases of dead exchanges.
3) One can start very small. One can easily find a ~100 USD to get started by avoiding pointless and wasteful consumer expenses. This works well with 2) above since the alternative, a pointless and wasteful consumer expense has a 100% guarantee of loss.
4) Use a Free Libre Open Source Software (FLOSS) operating systems, for example GNU LInux system to store your Moneroj. This has two critical advantages. a) The risk of loss to malware is drastically reduced. b) One avoids the cost of proprietary software licensing. Instead of paying money to Microsoft or Apple for a license to use their software with onerous restrictions and with a 100% guaranteed financial loss, one can use these funds get started with Monero. The worst that can happen is that one has replaced tyranny with freedom in one's computer experience, by "flossing out" this pointless and wasteful consumer expense as per 3) above.
5) Do not even try to time the market. This is a long term game.
Edit 1: One can argue that the larger Monero fish species see bear pigs as prey to feed on.
Edit 2: The Monero bear market bottomed out at 91 k sat, so the bear pigs did get slaughtered.
