Crypto Roller Coaster - thank God I am off it

in crypto •  7 years ago 

Is this the big one folks? Is it over?

I traded Crypto coins for 4 straight months with $22,500 in cash and ended up pulling all but $151 last week and the week before, if I didn't I would have lost over 1/2 of my money - I saw and felt this coming, call me crazy but I did - I have my entire 4 months written down, day by day, trade by trade, all the highs and lows...winning $2,900 in one day, losing the same another day - what a ride - stay tuned for the story as I decode it from my spreadsheets and get it down on paper, check out a few snippets here:

            12/16   Saturday  bitcoin   coinbase       litecoin   bittrex          us wallett on coinbase          coinbase litecoin principle                4pm: almost every single one of my   trades would have made solid $ if I held them instead of selling them above…   ****                bought 13,000 ripio rcn at   bitcoin was at 19242  fill .00001254 so .24129 fill each cent move is $130!! of course got killed, couldn’t get out when I wanted….sold at .00001135 *   19086 = .2166261              here is 10% calculator: plus bitcoin   price in to sell 10% more… Bitcoin price> 0.0000126 0.0011340% < 10% more    

          9pm 12/19 sold 37.5 monero at 451.5 lost 750               moved my 1 bitcoin to coinbase and   will sell it for cash tomorrow- still have then the 13.5 litecoins which I   can't touch until next week            $6000 profit after all is   said and done - and now I am done, too hectic, too much drama.              I have surmised that this will   either 1. give me a stroke 2. make me   broke 3. take ll my money 4. possible   become lucky and become a millionare            but I would rather build something   and be happy instead of stressed out all day.             done.                   call it "My wild   crypto 3 month ride"       

so - will it go up one more time before the final fall or is this the final fall?

I mean let's face it, this entire 700 billion dollar industry is based on almost nothing - built on pure greed and speculation. SOme good technology yes but do you really think major gov't and the bank lobbyists will let it get much bigger before they stop it? Look at every time South Korea put out some news that they were halting this or that, big crash, what if Trump came out and said ONE word about it, it would spook tons of people in the market and then the entire ship would crash. Right? Seems obvious to me.

Don't get me wrong, I hope it does go up and succeed and take $ away from the greedy bankers but that remains to be seen.

 I will say that hope it doesn't go down as I have friend's with nice $ left in the crypto markets but it is scary out there.

I went through it day by day for 3 months, learning everything - Coinbase, Bitrex, this coin, that coin, what a wallet is, how to move it to the trading account, two step authorization, figure dollar vs. Bitcoin, on and on and I learned alot but I was basically gambling for 4 months at a casino. a friend of mine and I had a system that almost worked, as did the bots, but in the end, when something crumbles like this so fast, no $ is to be made.

Maybe on the way back up but this is one hairy ride I am glad to be off of for sure. 

Good luck to those left riding the roller coaster-

Smoked Steem

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Not sure there's any real technology in crypto either, just recycled stuff that's already been implemented in USD system.

That said, over 90% of dotcom bubble was crap, but from all that crap emerged a small handful of longterm winners. For whatever reason, it might be true that TRULY decentralized organizations has a long future. At first, it will most likely glom onto semi-legal and illegal activities like porn and sports gambling. But it can grow to more, as the only real thing underlying it all is a new faith in algorythms. Should we be surprised that humans will one day collectively trust algos? Let's look at just a couple of examples:

#1 Elevators
Remember when they used to obey your commands, and respond immediately to anything you directed? Wanna open and shut the elevator door 1,000 times in a row, screwing everyone in the bulding? You could do that 30 years ago. Now, impossible, the engineers built algos which ignore human input. Go ahead and look at the rules for robots (do not kill humans etc...) and see how we're already knee deep into violating them.

#2 Self-driving cars
Literally taking life out of one's own hands, and giving it to some engineer in Palo Alto to protect you. Are you a better driver than a robot?

De-centralization has the ability to take power out of human hands, and put the power into an algo-- changing how entire organizations run. There will be pros and cons, but it will be a new tool a motivated human can use to possibly change the course of human history.

It's... quite frankly... a Revolution... via code.
The programmer geeks are taking over.

redonkulous, what a ride.

thought-inspiring.

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