Let's cut the crap - poll

eg2505 said:
nowadays, I sure some making money, but its more along the lines of a standard stock or unit trust
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Crypto markets still move a lot quicker and make bigger % gains than traditional markets. Their general behaviour & functioning however can still be very much like traditional markets - human psychology remains the same. The big difference is the ease of access: Trading regular stocks is much more prohibitive than crypto; crypto anyone can sign up for an exchange account and start trading with any amount of money. The ease of access has resulted in a lot of people doing it flippantly.
 
saor said:
Crypto markets still move a lot quicker and make bigger % gains than traditional markets. Their general behaviour & functioning however can still be very much like traditional markets - human psychology remains the same. The big difference is the ease of access: Trading regular stocks is much more prohibitive than crypto; crypto anyone can sign up for an exchange account and start trading with any amount of money. The ease of access has resulted in a lot of people doing it flippantly.
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on that I can agree, but the noose is tightening with regards to regulations and taxes,
so as time goes on, its becoming a lot more than most people think, just like a traditional stock exchange ect...
 
Currently sitting at near 400% gains in less than 12 months this was obviously much higher in December, the amount is no one's business, this is also after spending some BTC on sites like takealot and raru, BTC is only my 4th highest holding.
 
Like others have said, there are scams like Bitconnect which is not crypto. It's just people masquerading as "asset managers" saying that they can guarantee xx% of returns. You get these scam artists in every market.

Also think a true return is hard to work out. If trading with small amounts (say R50k or less) a higher return is much more easily achieved on low volume exchanges like Luno. Once you get to the bigger numbers, you end up with a lot of your capital not being in play, either due to choice or slow market. So the return percentage ends up looking a bit lower but in absolute terms it would still be high.

The most accurate way to work it out would be to keep track of every trade (buy+sell pairs, etc.) and then calculate a weighted average return. But who does that.
 
dj2381 said:
Ignore him, he hates crypto in general. I think he got burnt badly lol.
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That much seems obvious. All in all I am buying the dips and it is fair to say if the market ever returns to the 800b range I will 10 -50 times my investment. If not I am down about 20 percent of what I put in should I cash out right now. Money I was always prepared to lose (yet very much doubt I will). I made some bad buys early on (electroneum/tron) at relatively high cost which explains my loses, but even those only need a mild recovery to see me in profit.
 
<Braggadocio>

LOL Umad OP?

Let's put it this way like most traders with a bit of common sense I keep most of my crypto on a hardware wallet and keep a trading stack on an exchange.

In the past month I increased said stack by 23%.
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This is in spite of the downtrend from $10k. I'm not one of those suckas that can only make money on the way up.
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Lots of money is being made by a lot of people. The only people screaming "scam" are the guys too chicken shyte to play the game, people that suck at trading and dumbasses that actually did fall for some kind of scam.
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In fact I just made yet another profitable trade 20 min ago. UMAD?

Oh yeah lets not forget the free money from all the bitcoin forks.
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</Braggadocio>

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