Random thoughts on crypto
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  1. #1
    XCR Guru TexasChris's Avatar
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    Random thoughts on crypto

    Alright guys, I've written this out almost half a dozen times and started over each time because I can't get it right.....so in no particular order and with zero flow here are some things I'd like everyone to know.



    - Crypto is not a bubble (some are now saying its the pin, and that the failing traditional markets are the bubble.) Outsiders have been saying this since 1 dollar. That's right, 1 dollar. THere have been massive corrections already, from triple digits to single digits, from 1000 to 200. It has not been the un-ending meteoric rise that the detractors would have you believe it is. I bought it right after an almost 50% correction in may/april (from 2900 to 1750). That's why the only people shocked that its still going are outsiders who don't understand.....its only magic when you don't know how it works.

    - Though I've heard the word "ponzi" used several times, no one has ever fleshed the argument out and simultaneously demonstrated an understanding of the experiment....the ironic part though is that almost all of the people I've heard make the association are currently on the US dollar.....the reigning heavyweight champion of the ponzi world.

    - Crypto will likely be the single most disruptive technology of our lifetime. Nothing has had the potential to affect immediate, lasting and permanent change since 1776.

    - We are the last of the dinosaurs that thought we might have to shoot it out with the gub. All the info that we scraped and clawed for, all of our scrounging and sleuthing and debating.....these kids had it at their fingertips. They underwent no great mental migration, it was just there.....presented as fact. They realized that not only was violence a poor solution, but that it played right into what the state wants. These kids understood that a velvet revolution was possible, all they had to do was incentivize a better system than the broken one we are currently in. We all know he who controls the money controls the power.....what happens if we control the money?

    - Crypto can be summed up in one word: Voluntary. (but buy ripple because that's the .gov wunder koin, and it will be triple digits in the next 2 years. If we must have overlords, I want to be a comfortable slave shooting match ammo.)

    - Because it is both voluntary and places great power in the hands of each of us it represents an opportunity for us to separate money and state. Say that again until the implications start to sink in. Crypto _could_ be our magic bullet. Nothing has made me so optimistic about the future....I'm so hopeful that it feels down right weird. We have a chance....a real by God chance.

    - Crypto allows the individual to exercise everything from a degree of control in a centralized system to absolute authority in an an entirely anonymous and decentralized system.

    - Crypto is still in its infancy, the bus hasn't left. 99.99 percent of the world has no idea what it is, and of the .01 percent who do, half have written it off as a scam for internet dorks and meme lords, a quarter think its a ponzi and the other quarter are making money hand over fist.

    - Crypto represents the cashless society of the future, but rather than being the chains that imprison, it is the key that lets us out.

    - Most of us here know that the market crashes are intentionally created by the fed to cripple us and further condense their power.....opt out. This next crash (in months to years) will be severe, and when it happens, people will rush to crypto in droves....that's not conjecture. Go back and look at the bitcoin charts for 2013....notice anything around the time that the greek banking system failed? Then a few months later when China went ham? The dates perfectly coincide with huge movements as people began searching (and found) for a secure store of wealth. Don't be necessity driven like they were.....crypto is the hay to be made while the sun is shining. Personally, I plan on spending like a mofo in this next down turn.

    <edit> ....and if, on the off chance, we do not crash....and we have fair skies and following wind for the next few years.....imagine what crypto will do when people have money to burn...... <\edit>

    - In 3 years time everyone will personally know someone who has made money on crypto. This will range from a few extra bucks, to a nice truck, a paid off house, kids college to lambos and gulfstreams. The regulatory swipe I was afraid of initially, is no longer of much concern. The government is terrified because there's really nothing they can do to stop people from using crypto.



    Here's the thing, I first heard about this back in 2008, and I immediately said "its a scam." I didn't read anything about it, I didn't do any research I just took the little I was presented, threw it on the very basic understanding I had and built an opinion like it mattered and went on with my life......what I wouldn't give to go back.....but I got a second chance. Because folks will wonder, my motivation is simple, getting to know someone via the written word is an interesting thing. We've all strolled through the deepest corners of each others minds. We've become intimately acquainted with the way we reason, and think. Rationalize and justify....the way we approach obstacles and deal with them. I've come to appreciate and respect a great deal of the minds here and found them to be in greater centralized number than I have ever experienced in the real world......I want nothing more than for you guys to have good things. The most valuable resource in my world is time, and my dream was always to never have to do anything with it that I didn't want to....crypto as a vehicle has allowed me to make up decades of ground in the last 6 months towards that goal.....but its just getting started. I know how crazy it sounds I do....this is the 5th time I've written this.....I get it.

    If you have legitimately done your research, and you are 100% sure its scam.....ok.....you can't regret that. I regret 2008 because I _didnt'_ do my research and I was anything but sure. I was cocky and arrogant. I confused what I thought with what was. If I had taken one....just one night for due diligence, I would have realized just how incredible the scope of this project is...... and I'd be a multi millionaire. Just one evening of googling and I would have done then exactly what I did this time around. Gone yard. If you've written it off because you _think_ its a ponzi scheme or you _think_ its a scam give it another shot......read until you're sure. Ask questions, google, get on bitcointalk. This is one of the most significant financial opportunities of our lifetimes, and its still the ground floor. In 3 short years your life could be wildly different.

    Just be sure, I think that's the point. Just be sure....and if you're not 100% sure maybe don't eat out once a month and put the money in Ripple. Because when it's 300+ dollars and you averaged under a dollar, you'll thank me.



    I think I'm doing this because I wish the person who brought btc to me initially had sat me down and gone "look....you're too smart to really think that.....listen to me...." and discussed it further. Once I understood what was being proposed and how it fit into our lives, the risk dropped significantly.....obviously any speculation carries with it the inherent risk of bust, but as far as sure things go.....crypto is about as good as it gets (on the whole, scam coins abound and imposters are popping up everywhere but if you can navigate the internet without neurotically punching your credit card numbers into every pop up and you know enough not to wire nigerian princes your life savings, you'll be fine.)


    There's a quote I first came into contact with in the Ron Paul circles back in 2008, and every time crypto is brought up I find it dancing around in the back of my mind: There is nothing more powerful than an idea whose time has come.



    So whatever comes next, and how ever it comes good luck to all of you and all the best to all of yours.


    -Chris
    Last edited by TexasChris; 12-20-2017 at 02:07 PM.
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  2. #2
    XCR Guru Merlin's Avatar
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    SO Chris, 2 questions.
    How do you buy ripple? It is not on CoinBase.
    Other then BC and E which would be a good start in your opinion?

    "Be Vigilant and Safe!!"
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  3. #3
    XCR Guru TexasChris's Avatar
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    Quote Originally Posted by Merlin View Post
    SO Chris, 2 questions.
    How do you buy ripple? It is not on CoinBase.
    Other then BC and E which would be a good start in your opinion?
    It is rumored that XRP will be listed on coinbase, but I'm unsure. BCH started moving a few days ago like something was up, there's a difference between market movement and information driven trading.....so it may be a dark horse (dash is also a likely candidate.) But for now, XRP can be bought on Poloniex, Kraken and most other exchanges though those are the 2 I use. You would buy BTC/ETH/LTC on Coinbase, then transfer it to Poloniex, where you'd purchase XRP.

    I'd also recommend doing some digging on the ripple team, you'll quickly see why I think they're poised for huge returns.

    Ripple is the backbone of my portfolio. I flip some, but hold on to a large portion that never gets risked because I'm averaged so low. I think 5k XRP will see you in deep 6 figures, possible millions in 3 years time. Most who attempt to predict the value are forgetting that as the availability of innovation increases, so to does its use. That's what I tell new investors, accumulate 5K XRP first, then diversify.

    When XRP/Ripple adoption really picks up its going to jump by dollars.
    Last edited by TexasChris; 12-19-2017 at 02:06 PM.
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    Do what you've always done, get what you've always got. ----- Have gun. Will travel.

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  5. #4
    Marksman TTEngineer's Avatar
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    I just bought $1000 in Bitcoin and $500 in litecoin last week.

    I'm seriously debating putting in as much as $10k into crypto. I'm also looking into investing in companies that run support software for crypto currencies.

    I'm on Gemini, coinbase, and polionix currently and I'm seriously considering doing bit connect and loaning coins out for a steady stream of income.


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  6. #5
    XCR Guru TexasChris's Avatar
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    Quote Originally Posted by TTEngineer View Post
    I just bought $1000 in Bitcoin and $500 in litecoin last week.

    I'm seriously debating putting in as much as $10k into crypto. I'm also looking into investing in companies that run support software for crypto currencies.

    I'm on Gemini, coinbase, and polionix currently and I'm seriously considering doing bit connect and loaning coins out for a steady stream of income.


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    Honestly, I get caution, and urge others to be so....but when I had my aha moment, I went heavy, and continue to do so. I made peace with the consequences of my actions, but I've never been more sure of something than I am this.

    I also loan BTC on Polo...whenever there is a big movement or news, the interest rates get up to 5% a day, which is a great way to get steady residuals.
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  7. #6
    Marksman TTEngineer's Avatar
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    Quote Originally Posted by TexasChris View Post
    Honestly, I get caution, and urge others to be so....but when I had my aha moment, I went heavy, and continue to do so. I made peace with the consequences of my actions, but I've never been more sure of something than I am this.

    I also loan BTC on Polo...whenever there is a big movement or news, the interest rates get up to 5% a day, which is a great way to get steady residuals.
    I'm still waiting on my polo account to verify. I'll probably exclusively use them for future stuff.


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  8. #7
    XCR Guru MickeyC's Avatar
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    Crypto makes sense as long as you play the odds. Trade on the upswing and sell automatically on the down. The challenge is that the downswings can be hard and painful. Right now there is a lot of interest and that is driving both ‘value’ and competition which itself affects value. Trade but trade cautiously. The volatility is huge and while Gains can be huge, so can the losss.
    Semper in excremento sum, solum profunditas mutat. 'Always in the shit, only the depth varies'

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  9. #8
    Marksman TTEngineer's Avatar
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    Random thoughts on crypto

    The slightly anarchist and Libertarian in me are screaming to buy as much as possible.
    It's simply the future. What the internet did for merchandising crypto will do for currency.


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    Last edited by TTEngineer; 12-19-2017 at 06:11 PM.
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  10. #9
    XCR Guru TexasChris's Avatar
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    Quote Originally Posted by TTEngineer View Post
    The slightly anarchist and Libertarian in me are screaming to buy as much as possible.
    It's simply the future. What the internet did for merchandising crypto will do for currency.


    Sent from my iPhone using Tapatalk
    Exactly. There's never been a way for me to participate in actively ushering in the future, and a future I want to boot.
    Do what you've always done, get what you've always got. ----- Have gun. Will travel.

  11. #10
    XCR Guru TexasChris's Avatar
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    Quote Originally Posted by MickeyC View Post
    Crypto makes sense as long as you play the odds. Trade on the upswing and sell automatically on the down. The challenge is that the downswings can be hard and painful. Right now there is a lot of interest and that is driving both ‘value’ and competition which itself affects value. Trade but trade cautiously. The volatility is huge and while Gains can be huge, so can the losss.
    Using a stop loss has cost me money. I went back and logged all of my trades for fun, the vast majority of exits triggered via stop loss, had I not employed one I would have cleared quite a bit. I'm not advocating their abandonment, but in crypto there is a time and place for stops. If your call accuracy is good it becomes imperative that your stop/loss game is equivalent. For me, If I'm afraid to hold something for 10 days, I'll likely not hold it for 10 minutes.

    I tell new traders to keep in mind that so long as you're not playing with shit coins, we are still early enough in the time line that time alone will see just about anything back to the green.
    Last edited by TexasChris; 12-20-2017 at 12:27 AM.
    Do what you've always done, get what you've always got. ----- Have gun. Will travel.

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