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Bowl Leader
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Conversation Starter
Are EY global and EY same company?
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Rising Star
@OP, been here for about close to 2 years now and thanks 🙏🏿 for the bowl set up. QQ - based on trends and it seems trends have been fairly accurate...
1. When do you think there might be a tank?
2. How do you prep for it? Do you sell all your positions prior to greed or hold some?
Bowl Leader
I have always been hodler. So news doesn’t affect me much. I sold some earlier this summer to buy some nice rental property in Jacksonville - but the sell timing wasn’t impacted by news. I used to actively trade back in 2017-18, but it takes a lot of time and more often than not the returns weren’t that much better had I just held (ppl also forget about short term tax obligations). Yes there will be a market correction in 2022 for sure but i don’t think it’ll be that severe given the institutional cushion this time around.
I think I read that the BTC community started addressing some of the s/w issues (eg performance issues, etc) with some updates and new releases. IE, some of the issues that were addressed later by hard forks and ETH/XRP. Which made me happy.
Do you think it’s possible the BTC community can get to software quality par with some of their peers? More fundamentally do you think it would ever be possible to shift the basic proof of work process to something more, umm, sustainable?
(I’m a BTC HODler, with a relatively smaller XRP bag. And it’s now kinda bugging me about the energy consumption and other issues)
Bowl Leader
EA1, this was the reason I swapped about a meaningful BTC chunk to ETH in my early days - I just didn’t see any meaningful innovation / scope of use case on BTC, but rather a lot of insularity and toxic chatter. I think it’s a matter of time that BTC and ETH swap positions in terms of market size. Now I know I sound biased, but thought I share my genuine POV
Rising Star
By the way, thanks for being open and for this bowl. Changing lives.
Bowl Leader
Sure thing. Always happy to pass the knowledge and learnings forward 😀
OP, just wanted to say I have been thinking about buying crypto for years now but never pulled the trigger. But this post put me over the edge and I just bought my first crypto (eth) on coinbase. Thanks for all the advice.
Net worth? Whats your protfolio diversity between retirement accts, crypto etc?
Look at Zkrollups this will solve the scalability, speed issue with ETH; all chains will eventually hit their max at scale and will require either sharding or zkrollup
Conversation Starter
Is a wallet necessary? I’ve just been keeping everything in CB Pro after buying.
SA1 I messed around looking into wallets a while back, but I understand CB has offline storage (vault) so as long as you are transferring from your CB wallet (checking acct) to your vault (savings), they are storing your holdings offline, in physically protected spaces, where they are not connected or hack able. This is also what XAPO started, and I think I read that CB literally pays XAPO for the vault service. I may be wrong, but that’s what I read.
I have 1k in eth right now, and 25k in btc. I’ve mainly been investing in the traditional market.
Is it too late for me to get involved?
Should I be investing in newer cryptos (SOL, ADA) or ETH?
Bowl Leader
Never too late if you’re in it for the long term. Also one big delta in traditional be crypto is the meaning of “diversification”. In traditional markets, it’s very evident as it’s cleanly cut by sector, size, and proven financial metrics. In crypto, it’s not as standardized so you’re really going after your gut feel in 99% of the “buzzy coins”. I would say invest 60-70% in a combination of BTC and ETH and throw the rest in well-researched newer projects. If you read about the next meme coin at Reddit or fishbowl, know you are already late and will be at a higher likelihood losing money.
What sources did you use to deep dive crypto in 2017 and what sources do you use now to learn about new projects
I’m related to tetranode. They’re one of the few that doesn’t shill on Twitter and is actually advising in between the shit talking. Tetranode is a big math nerd.
Rising Star
How have you managed to stay in stocks given crypto performance? I struggle watching my stock investments grow 🐢 and my crypto 🚀.
Bowl Leader
Wait for the next major bear market that’ll change your perspective. The highs are euphoric but the lows are catastrophic. In Feb, 2018, crypto tanked 90% and ETH went from a high of $1400 to a low of $70 in a span of 2 months - I was very glad to see my boring stock portfolio then 😌
How do I get more into crypto and learn about the “good” coins before the blow up? I don’t understand half the posts on here and I’d really like to
Bowl Leader
There’s a lot of information asymmetry in this space. Discord, Reddit and tracking actual whitepapers is probably a good start
Pro
Really awesome 👏🏻
You have to invest $1000 right now into SOL, LINK, ATOM, or AVAX - where you putting it?
Dumb question. Isn't avax a L1 leader?
What are you thoughts on yield farming? Risks and upside? Worth getting into and learning about it?
@BCG 1 ... Very informative article. Do you have other similar sites/resources/discord/reddit groups to stay on top of the latest news and research?
What are your thoughts on ETH level 2? Do you think this gives it large growth potential over the coming decade with reduced gas? I’ve been reading some really cool stuff about players like Loopring in that area. Thanks in advance
My thoughts exactly. In the process of moving more of my investments towards crypto and ETH appears like a clear front runner because of this. Hard to make sense of the current crypto market, over speculation and hype are doing some wild things. Appreciate the response and happy thanksgiving
What platform do you use to buy eth and Bitcoin. Basic question but seeing many people not using Robinhood for this which I find way easier than the other platforms. Also no fees.
Bowl Leader
Coinbase pro for btc and eth. Bittrex for other alts.
Any general tips on managing passwords and log ins? I use 2FA wherever possible but still always feel nervous of getting hacked
Bowl Leader
Hardware wallet is what u need. Only use online exchanges to trade not to store.
Thanks so much for sharing, what are your thoughts on Gemini Earn? I’m interested in the 8% from their stable coin better than the low rates from traditional banks.
Wow the offerings on site is insane. I have $50 on Gemini Earn just to test. I would like to put more once I free up some cash. I like the simplicity of Gemini.
I have 95% of my net worth in cash. I would like to start investing but I am completely lost and don't know where to start..any help for first steps?
Bowl Leader
M1, if you’re in all cash, I would take 75% of it and put it in VOO or VTI - just open a Schwab or vanguard account. Take the rest and open a coinbase account (use coinbase pro when u get signed in etc) and then buy 75% eth and 25% btc. Godspeed. For someone who has all liquid, I wouldn’t advise to put it all in crypto
Hi everyone, what s the best crypto wallet to use?
hardware wallet + metamask
What is your allocation across crypto? Which coin is your favorite and see the most potential in?
Bowl Leader
Ethereum by far. I’m 85% ETH, 10% BTC and 5% across a few rando coins which I have from back in the day (e.g., Golem, Dodge, Quantum)