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Showing 20 of 90 results by ummart66
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Topic
Board Economics
Re: How did Crypto help you out?
by
ummart66
on 25/08/2018, 07:36:49 UTC
Crypto helped me be a lot more critical about what I hear from people who want money. When every project is going to the moon, and every crypto will change the world as we know it, there's got to be some people failing. I still believe that many of them will fail, just like during the dot com bubble. I really hope this knowledge and experience in day trading help me in the stock market in the future.
Post
Topic
Board Altcoin Discussion
Re: Do you like Music?
by
ummart66
on 01/08/2018, 20:57:55 UTC
I looked at this project for like one minute and think it's incredibly cheesy. It's super important to ask yourself whether something needs a blockchain, and I don't think this does at all. From their overview it just sounds like a networking platform to "connect fans, artists, and others involved in the music industry". Why?

Isn't this just Myspace on a blockchain?

As a crypto, I wouldn't invest in anything with a 40% bonus since it's pretty safe to assume this will be dumped when the coins are released. Plus with us being in a bear market I don't think a blockchain Myspace will really take off.
Post
Topic
Board Altcoin Discussion
Re: The best pegged currency
by
ummart66
on 27/07/2018, 14:39:04 UTC
There's a ton of bad press about tether, however it has gone through audits and they've apparently shown that tether is actually backed by real money.

In my opinion the pegged cryptos are only meant for short term holding, it doesn't make sense to me that you'd convert USD into tether just to hold onto it for a long time. If USD drops in price, tether will too since it's pegged to USD.  These cryptos are more for short term trades, so you can convert bitcoin into a form of USD without actually taking your money off an exchange and converting it into fiat.

I would not feel safe holding any of these backed cryptos for a long time since they feel a lot more risky than just holding bitcoin or any of the larger alts. If crypto does get banned, you're going to have a very hard time converting the backed crypto into fiat.


About Tether it was not a legal audit and no information about transaction only balance. But if you want to sell BTC what do you buy instead of it? Fiat?

Sorry, you're right. It wasn't a full audit, but it was a report which concluded that tether does have enough USD to back it up. If you believe this or not is really just personal opinion. Personally I still don't fully trust it.

If you're selling for good out of bitcoin, then yes I would try to convert to USD as fast as possible and get your money off of exchanges. If I think that I will sell Bitcoin and re-buy in a week or so, that's when I'd sit on the tether. I always feel scared leaving any crypto on exchanges, and leaving tether on an exchange just seems even riskier than that. If the same thing that happened to Mt.Gox happens to an exchange holding tether, I don't think it would even be possible to pay back any of the people who lost their coins. At least Mt.gox still had a stash of bitcoin, so they were able to pay people back since this had risen in price.
Post
Topic
Board Marketplace (Altcoins)
Re: IS THIS THE YEAR OF STELLAR LUMENS??
by
ummart66
on 27/07/2018, 14:17:50 UTC
Stellar has always been a strong investment in my opinion. However, I feel like it may be a bit too early for them still. They released a lot of amazing news last year which drove the price up high, but the news came out way too early and eventually this lead to people selling, driving the price down. Unfortunately it may still take a lot of time since any big named investors will most likely start with Bitcoin and Ethereum, since these two are the most known and accepted. It may take them some time to get into Stellar, which can again cause people to lose faith in the coin and begin dumping their bags.
Post
Topic
Board Altcoin Discussion
Re: The best pegged currency
by
ummart66
on 27/07/2018, 14:14:06 UTC
There's a ton of bad press about tether, however it has gone through audits and they've apparently shown that tether is actually backed by real money.

In my opinion the pegged cryptos are only meant for short term holding, it doesn't make sense to me that you'd convert USD into tether just to hold onto it for a long time. If USD drops in price, tether will too since it's pegged to USD.  These cryptos are more for short term trades, so you can convert bitcoin into a form of USD without actually taking your money off an exchange and converting it into fiat.

I would not feel safe holding any of these backed cryptos for a long time since they feel a lot more risky than just holding bitcoin or any of the larger alts. If crypto does get banned, you're going to have a very hard time converting the backed crypto into fiat.
Post
Topic
Board Altcoin Discussion
Re: Crypto: Education is a key to success
by
ummart66
on 27/07/2018, 14:05:28 UTC
I fully agree that education is extremely important in the crypto space, but people need to be careful about where this information comes from. Unfortunately not everyone knows how to judge their sources, they'll read something on BuzzFeed or similar sites and just believe it because "why would someone just make something up and lie on the internet?". Look at how many people followed that 17 year old kid and got suckered into buying Bitconnect. They literally bought into a ponzi because they took investment advice from someone who wasn't even old enough to drink.

Unfortunately on the internet it's just way too easy to spread lies or misinformation for your own personal gain. This is why it's important to educate yourself, so you can come up with your own thoughts and better gauge whether this information is completely false, or likely to be true. No matter what crypto you're into there will be people talking negatively about it- you need to decide what information to follow.

Additionally, I agree that learning TA is important, but you need to watch out for people who give a "call". It's more likely than not that they will benefit most from you buying their call, as they've probably already bought in. In these cases I believe it'd be better to ignore any calls you hear, and just learn how to make your own calls.
Post
Topic
Board Economics
Re: Bitcoin is back!
by
ummart66
on 25/07/2018, 19:32:29 UTC
I really don't think "we're back" since really nothing has changed in the last several months. We're still needing adoption and real-use cases for the average person. Until then it's still a highly speculative currency that may or may not succeed. Just because the price has risen or dropped doesn't really mean that the coin has left or come back. If it's being traded as the price goes down, it's still technically being bought and sold and used and therefore is not dead.
Post
Topic
Board Bounties (Altcoins)
Re: [AIRDROP]🚀BindNetwork (exchange) | AIRDROP Massive Tokens | 1M tokens FREE 🚀
by
ummart66
on 25/07/2018, 19:10:14 UTC
1)Bitcointalk profile URL, in this thread as a proof of authentication. : https://bitcointalk.org/index.php?action=profile;u=1864308
2)Submitted Telegram Airdrop form or not : YES
3)Comment: "Reserved for Telegram Airdrop"
Post
Topic
Board Speculation (Altcoins)
Re: Bull Market
by
ummart66
on 23/07/2018, 15:17:36 UTC
It's still way too early to say that the bear season is over. In early may BTC spiked back up to over 9,000, but then dropped rapidly back to almost 6,000.

I'm definitely hopeful that the bear season is over, and that the majority of people are done selling, but I am still very cautious. It could be possible that the people who managed to buy in under 7,000 may be wanting to sell off soon to take their profits. Or negative news may cause the price to drop again. Nobody knows for sure.
Post
Topic
Board Bounties (Altcoins)
Re: [BOUNTY]🔥Viewo - REVOLUTIONARY VIDEO SHARING PLATFORM🔥🚀💰~3.2 MILLION USD💰🚀
by
ummart66
on 26/06/2018, 16:28:50 UTC

Bitcointalk Campaign
Week no 2 (May 21-May 28)
Bitcointalk profile link:- https://bitcointalk.org/index.php?action=profile;u=1864308
links of posts you made:-

1: https://bitcointalk.org/index.php?topic=3119346.msg37599421#msg37599421
2: https://bitcointalk.org/index.php?topic=3916002.msg37600186#msg37600186
3: https://bitcointalk.org/index.php?topic=3916488.msg37600467#msg37600467
4: https://bitcointalk.org/index.php?topic=4010332.msg37934854#msg37934854
5: https://bitcointalk.org/index.php?topic=4111360.msg38115334#msg38115334
6: https://bitcointalk.org/index.php?topic=2635172.msg38117078#msg38117078
7: https://bitcointalk.org/index.php?topic=4114618.msg38294387#msg38294387
8: https://bitcointalk.org/index.php?topic=4180757.msg38303004#msg38303004
9: https://bitcointalk.org/index.php?topic=4169286.msg38303430#msg38303430
10: https://bitcointalk.org/index.php?topic=4227568.msg38423581#msg38423581

Bitcointalk Campaign
Week no 3 (May 28-June 4)
Bitcointalk profile link:- https://bitcointalk.org/index.php?action=profile;u=1864308
links of posts you made:-

1.   https://bitcointalk.org/index.php?topic=4223615.msg38529227#msg38529227
2.   https://bitcointalk.org/index.php?topic=4310740.msg38658898#msg38658898
3.   https://bitcointalk.org/index.php?topic=4310242.msg38659209#msg38659209
4.   https://bitcointalk.org/index.php?topic=4310740.msg38797859#msg38797859
5.   https://bitcointalk.org/index.php?topic=4310740.msg38969741#msg38969741
6.   https://bitcointalk.org/index.php?topic=4360939.msg38970486#msg38970486
7.   https://bitcointalk.org/index.php?topic=4360664.msg38973706#msg38973706
8.   https://bitcointalk.org/index.php?topic=4361110.msg38986038#msg38986038
9.   https://bitcointalk.org/index.php?topic=4365470.msg38987514#msg38987514
10.   https://bitcointalk.org/index.php?topic=4365829.msg38988794#msg38988794

Bitcointalk Campaign
Week no 4 (June 4 -June 11)
Bitcointalk profile link:- https://bitcointalk.org/index.php?action=profile;u=1864308
links of posts you made:-

1.   https://bitcointalk.org/index.php?topic=4428652.msg39525844#msg39525844
2.   https://bitcointalk.org/index.php?topic=4433532.msg39589214#msg39589214
3.   https://bitcointalk.org/index.php?topic=4433659.msg39592375#msg39592375
4.   https://bitcointalk.org/index.php?topic=4392791.msg39170882#msg39170882
5.   https://bitcointalk.org/index.php?topic=4416320.msg39377207#msg39377207
6.   https://bitcointalk.org/index.php?topic=4417474.msg39377542#msg39377542
7.   https://bitcointalk.org/index.php?topic=4422788.msg39444170#msg39444170
8.   https://bitcointalk.org/index.php?topic=4422778.msg39444513#msg39444513
9.   https://bitcointalk.org/index.php?topic=4427121.msg39522828#msg39522828
10.   https://bitcointalk.org/index.php?topic=4428875.msg39525084#msg39525084



Bitcointalk Campaign
Week no 5 (June 11 -June 18)
Bitcointalk profile link:- https://bitcointalk.org/index.php?action=profile;u=1864308
links of posts you made:-

1.   https://bitcointalk.org/index.php?topic=3838993.msg39676499#msg39676499
2.   https://bitcointalk.org/index.php?topic=4486063.msg40334741#msg40334741
3.   https://bitcointalk.org/index.php?topic=4485622.msg40334928#msg40334928
4.   https://bitcointalk.org/index.php?topic=4482266.msg40335172#msg40335172
5.   https://bitcointalk.org/index.php?topic=4477612.msg40385216#msg40385216
6.   https://bitcointalk.org/index.php?topic=4417039.msg40385434#msg40385434
7.   https://bitcointalk.org/index.php?topic=4486916.msg40385939#msg40385939
8.   https://bitcointalk.org/index.php?topic=4487604.msg40386667#msg40386667
9.   https://bitcointalk.org/index.php?topic=4480507.msg40387863#msg40387863
10.    https://bitcointalk.org/index.php?topic=4490176.msg40388464#msg40388464


Bitcointalk Campaign
Week no 5 (June 18 -June 25)
Bitcointalk profile link:- https://bitcointalk.org/index.php?action=profile;u=1864308
links of posts you made:-

1.   https://bitcointalk.org/index.php?topic=3327298.msg40957034#msg40957034
2.   https://bitcointalk.org/index.php?topic=4546210.msg40957221#msg40957221
3.   https://bitcointalk.org/index.php?topic=4475764.msg40957680#msg40957680
4.   https://bitcointalk.org/index.php?topic=4544019.msg40958025#msg40958025
5.   https://bitcointalk.org/index.php?topic=4029332.msg40958240#msg40958240
6.   https://bitcointalk.org/index.php?topic=4541404.msg40958475#msg40958475
7.   https://bitcointalk.org/index.php?topic=3110255.msg40958645#msg40958645
8.   https://bitcointalk.org/index.php?topic=4547778.msg40958874#msg40958874
9.   https://bitcointalk.org/index.php?topic=4432223.msg40959007#msg40959007
10.   https://bitcointalk.org/index.php?topic=4542125.msg40959326#msg40959326
Post
Topic
Board Economics
Re: you gotta wonder why they are worried about your money!
by
ummart66
on 26/06/2018, 16:27:39 UTC
You have to question almost every post you see about crypto, since everyone is just out there to make money. You don't see people stopping you in the street to give you investment advice since there's no incentive for someone to do that.

By telling someone to buy a crypto, you hope they buy to increase the price of the coins you already have. By spreading FUD, you hope to drop the price- either so you can buy, or so something else you're invested in looks better in comparison.

People who want crypto to fail are obviously not invested in it, but they are invested in other things. They want to lower overall competition.
Post
Topic
Board Altcoin Discussion
Re: Bitcoin vs. Altcoins
by
ummart66
on 26/06/2018, 16:22:38 UTC
Most of the altcoins I've bought have under performed when compared to Eth/BTC. I'm a long-term believer in COSS, however. With COSS you get paid out dividends collected from the site's transaction fees. I'm really hoping their site takes off and starts paying out a lot more. If the exchange grows as much as other exchanges, it can be a very profitable crypto to invest in.
Post
Topic
Board Altcoin Discussion
Re: why the price of crypto coins is different ??
by
ummart66
on 26/06/2018, 16:20:33 UTC
Just a note that these price differences can be used for arbitrage. If you buy low on one exchange and transfer to the next to sell higher, you can make a decent profit. However, you must be sure to take into account trading and transferring fees. You have to be sure that this move will be actually beneficial for you, and not just a waste of time.
Post
Topic
Board Speculation (Altcoins)
Re: Is NEO still worth investing in?
by
ummart66
on 26/06/2018, 16:17:36 UTC
I still feel NEO is a wonderful long-term investment. They've secured a place for themselves as a top crypto. The price may fluctuate with various chinese FUD, but if held long-term I believe the price will rise. It's also nice that you get paid in GAS for holding NEO. GAS is going to be increasingly expensive, especially as adoption increases. People need GAS for apps, and using the NEO platform. As demand increases, the price should as well.
Post
Topic
Board Altcoin Discussion
Re: What is the best way for marketing a new crypto?
by
ummart66
on 26/06/2018, 16:15:10 UTC
In my opinion the best advertisements are through believable sources. Random posts on crypto forums, people talking about the coin. The coins you see advertised non-stop everywhere you go are scary to me, and I assume many others. However, when I see a couple people talking about a coin I definitely go looking into it.

When you read a blog post where a guy is advertising a crypto you know he's profiting from the post. Accounts that only mention the coin are paid shills. Advertisements on youtube, google, etc, have paid to be put there. All of these forms are not organic, and are driven by greed and money.

A couple people talking about a coin says to me that they're interested in it, and that's enough for me to look into the coin. From there I have to decide whether or not it's worth it.
Post
Topic
Board Exchanges
Re: Hitbtc death?
by
ummart66
on 26/06/2018, 16:11:38 UTC
There's so much FUD about hitBTC but I don't see them dying any time soon. In fact, they still have a ton of volume. Yes, they are an extremely sketchy website that nobody should use.

It's definitely important to keep talking negatively about these sites, as it may help people to stop losing out because they've used these shady sites.

It's crazy seeing a place like this still operate, but in crypto there is just too much information to sift through it all, so many people are unaware of what sites are trustworthy.
Post
Topic
Board Marketplace
Re: Why the market is falling and why not be afraid
by
ummart66
on 26/06/2018, 16:08:08 UTC
I keep telling myself that I'm an early adopter. In the big .com bubble there was a ton of new ideas, innovations, and places to invest in. Yes, when the bubble burst there were a ton that ended up crashing forever, but there were some that recovered in only a few years.

I'm really hoping that is the case for cryptocurrency too. Unfortunately I can only go based on gut feelings, since nobody really knows what will happen next.
Post
Topic
Board Trading Discussion
Re: 10 Mistakes you should never do in crypto trading✌✌
by
ummart66
on 26/06/2018, 16:02:52 UTC
This is helpful. But can you explain what you mean by "do not trade with your emotions?" How is that possible? Thanks for feedback.

Emotional trading can mean a different thing to different people. In my opinion it's becoming too attached to the coins you've bought. This may cause to to keep buying as the price falls, or to hold onto as the price drops into massive losses for you. Unfortunately this can really only be broken with experience, I'm still bag holding a few coins I should've sold a long time ago, but have been too attached to them.

Other explanations could be 'tilt' from trading. In video games it's easy to get upset after losing a couple games. This may cause you to perform worse, but keep playing because you need to win some. Usually this leads to more losses. In trading it may be easy to lose big on a trade, so you start making risky trades in an attempt to earn your money back. Ideally, you should know when to walk away and take a break and relax. Again this comes with experience, especially because it's easy to think that if you don't make a trade right now you'll lose your opportunity to make the money back.
Post
Topic
Board Beginners & Help
Re: Masternode
by
ummart66
on 26/06/2018, 15:55:36 UTC
You need to be SUPER careful when looking into a masternode. Yes, some have been massively successful, however the majority of them seem to have masternodes just for the sake of attracting masternode buyers. Many of these masternode coins have masternodes just because they can, they don't serve a real purpose.

The bad part about masternodes is that if the coin isn't adopted, there will be a small group which hold a massive amount of coins. If masternode holders keep dumping their coins and there isn't enough buyers, the price will decline, scaring away other potential buyers.
Post
Topic
Board Beginners & Help
Re: What if Bitcoin runs out?
by
ummart66
on 26/06/2018, 15:52:30 UTC
Bitcoin will still take over a hundred years to be completely mined. At that point, miners will still receive payouts from the fees paid when sending bitcoin. The idea is that adoption over time will increase, so the miner rewards will as well. This will still provide incentive for people to continue mining.