Quote from: system_shock on October 27, 2017, 10:36:48 AM

Quote from: zidane on October 27, 2017, 08:52:36 AM

Quote from: p_zapplaran on October 27, 2017, 08:34:09 AM

Quote from: Brighty on October 27, 2017, 08:02:12 AM

ppl have to understand that this project started in 2017. Dont panic, buy the dips and hodl. The team is working hard and are here to stay. 2018 will be a good year when products show off.

the problem nowadays is that everyone thinks they can make huge&quick money with every cryptocurr.... you can make huge money yes, just hodl

No, i think the problem is that on a lot of project we see delays, investors get angry and invest in another project.
And also just think why someone should invest now money in a longterm project? This money in example
of SONM is froozen than untill release in August 2018, thats one year. Sure than SONM will pump like crazy.
But why a clever investor should wait 10 months for this, smarter guys are trading every alt which is on news and make
untill next year much more money instead of waiting for sonm release. I prefer to trade now and buy in June 2018 SONM.
Sure maybe I cant catch the last Dip Price but I will take at leaste than a x2 after release and sell after it hits this value.

I am long here, and some years ago we called such guys who keeping the stakes and waiting months for news BAGHOLDER.
Now they seemed to be called longterm investor. Believe me on crypto the most projects will die in longterm. Buy the hype, sell the news.

This is a good point and I am also starting to wonder whether my timing was right. For now I'll just hold on to my SONM and support the project this way. At the end of the day, if there's any loss then it's totally my fault as I'm fully aware that I should have diversified my portfolio. There's a chance NEO might rise tomorrow so maybe it was better to take the (speculated) 30% rise and then buy back in to this current dip, I'm sure that would give me a juicy 100,000 SONM tokens. Anyway it's all speculation in the end.

Your timing could hardly be better.

Either way, one major flaw in the reasoning of just about every crypto daytrader is the complete neglicence of taxes. In most countries you pay significant more taxes if you don't hold your assets for more than a year. And if you participate in high velocity trading you pay even more taxes. And most traders in this scene completely ignore these costs, which can easily eat up up to ~60% of your profits. And that's if you even manage to consistently make profits without burning yourself by eventually getting greedy and flipping too much at the wrong time.

So what you are looking at is a very high risk to lose everything, with a very good chance of not being able to use your profits if you actually manage to make any.

Of the very few traders who end up making any significant profits over a longer period of time, most will just end up losing them to taxes and fines (if they are lucky) and go straight to jail (if they're unlucky) for tax evasion.
And this moment is inevitable if you want to ever use your crypto profits to buy a house or something else that costs a significant amount of money.

Of course, if you're happy with just having unspendable crypto millions, have fun with that - if you even make it by flipping trends.