Best cryptocurrency to get into now.... I need to invest some money

[GrandPapillon]

2 hours ago, Liverpool Lou said:

So irrelevant to Thailand, and everywhere else.  But you're claiming that genuine financial advice, not scam advice, provided by qualified advisors that has not turned out to be profitable for the investor in the US has lead to criminal convictions?   Any case in particular that backs up your claim?

the issue is not if it's genuine or not, or if you believe in it or not, the question is about product fit and customer best interests, and regulators will call BS on cryptos for product fit or customer best interest on 99.99% of individuals.

 

And if you are selling cryptos and misleading customers about the true risks or the performance "outcome", or you take custody of your customers account to make crypto trades without the proper approval documents or written agreements, then it get worse with possible civil penalties charges and criminal charges. Civil penalties can be expensive. Criminal charges will be small if you only mislead a small number of investors.

 

don't think this doesn't happen simply because you are focused 24/7 on positive crypto news, a lot of things is happening with bad people and cryptos in the regulatory world. Like I said, it's very entertaining to read.

 

Europe is also putting similar rules in place, but they are a bit slow :p

 

[GrandPapillon]

21 hours ago, fdsa said:

btw this movie is a nice indicator - if a person likes this movie then this person in a piece of shít and doesn't worth spending time with them.

I disagree, I thought the movie was awesome as a picturesque testimony of those financial criminals, like watching a mafia movie, not as an inspiration but as a confirmation of what's wrong with those guys.

 

Incidentally, that movie was "financed" with "stolen money" from the 1MDB scandal in Malaysia by a Malaysian minister who wired the money directly in his personal account and "laundered" it with that movie,

 

1MDB was a fund promoted by Goldman Sachs ????

 

You couldn't make that sh*t up ????

[GrandPapillon]

4 hours ago, wolf81 said:

By the way, when looking on YouTube videos of people advertising coins (or listen to Telegram groups and the like), be aware most likely there's some people at the top that give buying advise to people below. The people at the top will invest prior to sending out crypto-tips, so they can get huge gains (if many people follow up on the tips and buy the same coins). These people might dump the coin again after a certain value is reached, raking up a huge profit at the expense of late investors, who will be left holding a bag of worthless coins.

 

With that in mind, I think it's best to ignore most crypto advise from YouTube, Telegram groups and the like. 

it's the old "pump and dump" game of the penny stocks that we used to have in the 80s and 90s until the Feds went after all those guys and put them in jail (see Wolf of Wallst for the crackdown)

 

it's funny to see all those petty criminals coming out of the woodwork with their "penny" cryptos and promoting them like there is no consequences.

 

It might last 10 years, maybe 20 years and some will get very rich "stealing" money from poor "suckers" or "marks", but eventually the Feds will do a brutal crackdown, and it will be popcorn time with a few sensational arrests live on TV ????

 

Edited November 16, 2021 by GrandPapillon

[allanos]

I always put my money where my mouth is.! I sold a property and put the proceeds into Bitcoin. I sold all of my krugerrand gold coins, (a substantial amount), and put the proceeds into Bitcoin and Ethereum. I understand that the true gains will be made over the medium to long term. I am all in, and am prepared (mentally) forprice volatility, and to wait for the rewards which will surely come along.

 

In my view, Alts are for trading and not medium or long-term holds. I deem them to be speculative, at best, and not investments. Some, of course, will break through, and settle into long-term adoption, but which ones out of the 7000-plus which are out there? 

 

Both Bitcoin and Ethereum, on the other hand, are now fully entrenched, adoption has reached critical mass and they have both benefited from, among their many other attributes, first-mover advantage.

 

Not only will they be difficult to dislodge from their pre-eminent positions in the crypto-universe, 

one can see neither of them ever going to zero, although course-corrections will inevitably take place along the way.

 

Anyone looked at how the Amazon share price performed in the early years of its life-cycle? At one stage, it even plummeted 90%. I take heart when I see Bitcoin price drops of around 50%, as they are meaningless in the grand scheme of things.

 

Bitcoin and Ethereum are essentially the internet of money, their network-effect following the trajectories explicit in Metcalf's Law. If the internet adoption of the late-90's is anything to go by, Bitcoin's adoption at this stage of its cycle is almost twice as great, and the move is unlikely to be halted.

 

As to the OP, I agree that much of what is seen on YouTube is suspect, but for good, and relatively unbiased programming, for Technical Analysis (TA) I would recommend, first and foremost, Chris, from MM Crypto (a bit of a showman, and ok if you don't mind Germans), whose output is first class. Secondly, Karl from The Moon, with excellent TA.

 

This is mostly for short-term or swing-traders, it must be said, but they both provide good foundational knowledge on the price movements, and jargon, found in the crypto space.

[Liverpool Lou]

21 minutes ago, GrandPapillon said:

3 hours ago, Liverpool Lou said:

So irrelevant to Thailand, and everywhere else.  But you're claiming that genuine financial advice, not scam advice, provided by qualified advisors that has not turned out to be profitable for the investor in the US has lead to criminal convictions?   Any case in particular that backs up your claim?

Expand  

the issue is not if it's genuine or not, or if you believe in it or not, the question is about product fit and customer best interests,

The issue that I posted about was genuine, professional investment advice from qualified advisors which suggests that KYC requirements are expected to be and are followed.     

 

You stated that there are FAs in the states that are facing criminal charges for proper advice that has not produced the returns the investor expected, I don't believe that there are unless you can indicate where to find them.    

[GrandPapillon]

7 minutes ago, Liverpool Lou said:

The issue that I posted about was genuine, professional investment advice from qualified advisors which suggests that KYC requirements are expected to be and are followed.     

 

You stated that there are FAs in the states that are facing criminal charges for proper advice that has not produced the returns the investor expected, I don't believe that there are unless you can indicate where to find them.    

and that's what you keep missing, and you couldn't be a FA anywhere ????

 

"proper" advice is subject to certain rules as a FA, and advising clients to buy cryptos is exposing you to violations to those rules.

 

And the issue is not about "delivering" or "producing" returns that were expected, it's "promising" returns and misleading clients about them. And that fine line is very quickly crossed since you have to keep a trace of all communications you have with clients, there will be statements you made that will violate those rules if you "promote" past returns.

 

Again, regulators are very thorough when they have you on the hook, and every statements you made with a client could be turned against you. And the "client communication" regulations is complex, so believe me, it will happen.

 

So in short, if you still don't understand any of the above, the violations are not about not "producing" returns that were expected, nobody can do that anyhow, but what you said or what misleading information you gave your clients to follow your advice or simply to signup.

Edited November 16, 2021 by GrandPapillon

[Liverpool Lou]

3 minutes ago, GrandPapillon said:

10 minutes ago, Liverpool Lou said:

The issue that I posted about was genuine, professional investment advice from qualified advisors which suggests that KYC requirements are expected to be and are followed.     

 

You stated that there are FAs in the states that are facing criminal charges for proper advice that has not produced the returns the investor expected, I don't believe that there are unless you can indicate where to find them.    

Expand  

and that's what you keep missing, and you couldn't be a FA anywhere

That's what you think!   Wrongly, of course.  

[GrandPapillon]

the funny thing with cryptos "promoters" is that they think the regulations is only about "KYC". It's not, the "KYC" angle is only for custodian accounts, but client communications and misleading information is where the core of the violations are.

Edited November 16, 2021 by GrandPapillon

[GrandPapillon]

1 minute ago, Liverpool Lou said:

That's what you think!   Wrongly, of course.  

that's not what I think, that's what the regulations say. I was visited by regulators for a routine inspection for an investment practice and that's exactly how it went ????

 

And Crypto questions came on the table, and they were looking for them. Thank god, I avoid Cryptos professionally and personally for this and other reasons.

[GrandPapillon]

and as a FA if you can't explain intelligently why you choose that crypto over another for a client, and why all clients didn't get them, and why you bought them for you first before the client etc... boom you have committed multiple violations ????

 

and if you only follow "amateur" and "sell-side" blogs and YT to justify buying an untested cryptos for a client, boom you are in violation ????

 

oh wait, I will buy that untested crypto for myself, and then buy the rest for my clients when they are up 1000%, and won't tell them I bought them first. Bingo, you are in violation ????

 

Edited November 16, 2021 by GrandPapillon

[rwill]

5 hours ago, wolf81 said:

By the way, when looking on YouTube videos of people advertising coins (or listen to Telegram groups and the like), be aware most likely there's some people at the top that give buying advise to people below. The people at the top will invest prior to sending out crypto-tips, so they can get huge gains (if many people follow up on the tips and buy the same coins). These people might dump the coin again after a certain value is reached, raking up a huge profit at the expense of late investors, who will be left holding a bag of worthless coins.

 

With that in mind, I think it's best to ignore most crypto advise from YouTube, Telegram groups and the like. 

And some of them are paid to promote certain tokens.

[GrandPapillon]

4 minutes ago, rwill said:

And some of them are paid to promote certain tokens.

of course they are,

 

any registered FA wouldn't engage in such dangerous advice or promotions, without facing harsh consequences

 

so anyone claiming to be a FA and promoting "cryptos" is not a FA, he is simply a crypto hustler and a self-promoter

 

he couldn't be registered as a FA anywhere, maybe Cyprus, oh wait, "advisors" from eTorro ????

Edited November 16, 2021 by GrandPapillon

[Liverpool Lou]

9 minutes ago, GrandPapillon said:

12 minutes ago, Liverpool Lou said:

That's what you think!   Wrongly, of course.  

that's not what I think, that's what the regulations say. I was visited by regulators for a routine inspection for an investment practice and that's exactly how it went

I was not disputing the US regulations, I was responding to your statement that I "could never be an FA anywhere".   That's what you were very wrong about.

[GrandPapillon]

Just now, Liverpool Lou said:

I was not disputing the US regulations, I was responding to your statement that I "could never be an FA anywhere".   That's what you were very wrong about.

you couldn't be a registered FA,

 

an unregistered FA, is not a FA, he is a self-promoter or sell person, that's what I meant ????

 

[GrandPapillon]

and if someone claim to be a registered FA in Cyprus or Nigeria, DO NOT walk out, RUN ????

Edited November 16, 2021 by GrandPapillon

[Thailand]

22 hours ago, TimBKK said:

Which exchange do you use to buy these lesser known coins?

https://pancakeswap.finance/

[Liverpool Lou]

7 minutes ago, GrandPapillon said:

9 minutes ago, Liverpool Lou said:

I was not disputing the US regulations, I was responding to your statement that I "could never be an FA anywhere".   That's what you were very wrong about.

you couldn't be a registered FA,

 

an unregistered FA, is not a FA, he is a self-promoter or sell person, that's what I meant

I could be a registered (regulated) FA.  I was an FA (an IFA)!

[fdsa]

5 hours ago, phetphet said:

So far they have all done very well except Cardano.

of course, because Cardano has already reached its maximum and will not grow further.

[fdsa]

1 hour ago, GrandPapillon said:

I disagree, I thought the movie was awesome as a picturesque testimony of those financial criminals, like watching a mafia movie, not as an inspiration but as a confirmation of what's wrong with those guys.

yes, I meant not the movie itself as an art/story/director-operator-work but the main character.

For me that's simple: if you sympathize the main characters then you're a piece of shít, and if you think that the movie is disgusting and didn't watch it to the end (as myself - I've closed it at about the middle) - then you're my bro.

[GrandPapillon]

49 minutes ago, fdsa said:

yes, I meant not the movie itself as an art/story/director-operator-work but the main character.

For me that's simple: if you sympathize the main characters then you're a piece of shít, and if you think that the movie is disgusting and didn't watch it to the end (as myself - I've closed it at about the middle) - then you're my bro.

It was a fun movie to watch, just for the train wreck, but I can understand how it could make some people feel disgusted.

 

I thought the main character fascinating, in a monster kind of way, how could he sleep at nights? ????

 

incidentally, I recently got an email from the real guy promoting his new "sales techniques" business after he was released. Out of curiosity, I signed up, and got a ton of amusing stuff from him to read.

 

His videos are quite entertaining, and he does have a way with words and persuasion, even when you know it's all BS. I can see how people could fall for him. He is a great communicator. DiCaprio was not that good in the movie, he was way below the real character. The real guy was far more crazy ????

 

Edited November 16, 2021 by GrandPapillon

[GrandPapillon]

1 hour ago, Liverpool Lou said:

I could be a registered (regulated) FA.  I was an FA (an IFA)!

in Cyprus? or UK? if you are in the UK, then you do realize that "promotions" of cryptos like you do expose you eventually to serious violations, even if the advice are free and on social media ????

 

Edited November 16, 2021 by GrandPapillon

[lkn]

2 hours ago, Liverpool Lou said:

You stated that there are FAs in the states that are facing criminal charges for proper advice that has not produced the returns the investor expected, I don't believe that there are unless you can indicate where to find them.    

I think the point was that a registered FA would not do this, in fear of being fined. You can have a look at press releases from the SEC, I grabbed the headlines of about a dozen related to crypto which are below.

 

Granted, some of this is about fraud or unregistered securities, but notice they also go after promoters of fraud, even if the promoter didn’t know it was fraud, and even if what they promoted wasn’t a fraud “per se”, and none of these people charged are even registered FAs. So I don’t think a registered FA would touch this with a ten-foot pole. I have seen one U.S. bank (I think it was JPMorgan) say they allow wealthy (or maybe it was ultra-wealthy) clients to invest in crypto (via ETF), but only if the client ask for it themselves, i.e. they are not allowed to suggest this to the client.

 

• Two Celebrities Charged With Unlawfully Touting Coin Offerings
• Actor Steven Seagal Charged With Unlawfully Touting Digital Asset Offering
• SEC Charges U.S. Promoters of $2 Billion Global Crypto Lending Securities Offering
• SEC Charges Film Producer, Rapper, and Others for Participation in Two Fraudulent ICOs
• SEC Charges Three Individuals in Digital Asset Frauds
• SEC Charges Robinhood Financial With Misleading Customers About Revenue Sources and Failing to Satisfy Duty of Best Execution
• SEC Charges Bitcoin Entrepreneur With Offering Unregistered Securities
• Telegram to Return $1.2 Billion to Investors and Pay $18.5 Million Penalty to Settle SEC Charges
• SEC Charges Poloniex for Operating Unregistered Digital Asset Exchange
• SEC Orders Blockchain Company to Pay $24 Million Penalty for Unregistered ICO
• SEC Charges Global Crypto Lending Platform and Top Executives in $2 Billion Fraud

Edited November 16, 2021 by lkn

[wolf81]

2 hours ago, allanos said:

I always put my money where my mouth is.! I sold a property and put the proceeds into Bitcoin. I sold all of my krugerrand gold coins, (a substantial amount), and put the proceeds into Bitcoin and Ethereum. I understand that the true gains will be made over the medium to long term. I am all in, and am prepared (mentally) forprice volatility, and to wait for the rewards which will surely come along.

 

In my view, Alts are for trading and not medium or long-term holds. I deem them to be speculative, at best, and not investments. Some, of course, will break through, and settle into long-term adoption, but which ones out of the 7000-plus which are out there? 

 

Both Bitcoin and Ethereum, on the other hand, are now fully entrenched, adoption has reached critical mass and they have both benefited from, among their many other attributes, first-mover advantage.

 

Not only will they be difficult to dislodge from their pre-eminent positions in the crypto-universe, 

one can see neither of them ever going to zero, although course-corrections will inevitably take place along the way.

 

Anyone looked at how the Amazon share price performed in the early years of its life-cycle? At one stage, it even plummeted 90%. I take heart when I see Bitcoin price drops of around 50%, as they are meaningless in the grand scheme of things.

 

Bitcoin and Ethereum are essentially the internet of money, their network-effect following the trajectories explicit in Metcalf's Law. If the internet adoption of the late-90's is anything to go by, Bitcoin's adoption at this stage of its cycle is almost twice as great, and the move is unlikely to be halted.

 

As to the OP, I agree that much of what is seen on YouTube is suspect, but for good, and relatively unbiased programming, for Technical Analysis (TA) I would recommend, first and foremost, Chris, from MM Crypto (a bit of a showman, and ok if you don't mind Germans), whose output is first class. Secondly, Karl from The Moon, with excellent TA.

 

This is mostly for short-term or swing-traders, it must be said, but they both provide good foundational knowledge on the price movements, and jargon, found in the crypto space.

With Bitcoin you should be prepared to see drops of up to 80%. This has happened several times in the past and is likely to happen in the future again (likely shortly after reaching a new top of anywhere between 100.000 USD and 235.000 USD). The key, then, is to not be too greedy and cash out after having some kind of gains that you can be ok with (this was my mistake in 2017/2018 ... I was too greedy to sell when I had nice gains, so in the end my gains were quite minimal, since I kept waiting for the price to rise, while the price drops from 40k to 10k or so).

[Lemsta69]

12 minutes ago, wolf81 said:

With Bitcoin you should be prepared to see drops of up to 80%. This has happened several times in the past and is likely to happen in the future again (likely shortly after reaching a new top of anywhere between 100.000 USD and 235.000 USD). The key, then, is to not be too greedy and cash out after having some kind of gains that you can be ok with (this was my mistake in 2017/2018 ... I was too greedy to sell when I had nice gains, so in the end my gains were quite minimal, since I kept waiting for the price to rise, while the price drops from 40k to 10k or so).

liquidate everything at bull run top next year is my plan too, but easier said than done eh? I hope we get it right this time ????????

Edited November 16, 2021 by Lemsta69

[lkn]

2 hours ago, allanos said:

Anyone looked at how the Amazon share price performed in the early years of its life-cycle? At one stage, it even plummeted 90%.

I first bought AMZN in May of 2008, and I don’t remember it ever dropping 90%. Worst I think, was around 30%.

 

But how is this related to crypto? Amazon was initially a bookstore that got their revenue from selling books online, then they expanded into more of a market place, taking a cut of other people’s sales, and also introduced their Amazon Web Services, which provides infrastructure for a large number of businesses, who all pay Amazon for this infrastructure, and today they have media subscription services, hardware, etc.

 

People who bought Amazon shares bought a piece of this business, and their share price has gone up, because the business keeps growing, bringing in more revenue and higher earnings.

 

Can you explain to me what you get, if you buy BTC or ETH?

[lkn]

7 hours ago, Neeranam said:

You must spend precious time researching negative/false things about crypto.

Precious time? As a global citizen concerned about global warming, financial stability, tax evasion, and a general interest in crime and scams, crypto comes up a lot.

 

Negative, sure. But false? Is it false that IMF put in a whole chapter about crypto in their latest report about things to be concerned about? That Sweden is asking EU to ban proof of work mining because it will hinder our goal of limiting global warming to 1.5℃, etc.

 

7 hours ago, Neeranam said:

I sense that you were ripped off in the past and bear a grudge.

This again, yes, if the facts are against you, attack the messenger… ????

[Marc1961]

Watch the vids of this guy as much you can. He is awesome. Don’t invest immediately watch and learn what the markets are. Good Luck

 

 

[GrandPapillon]

2 hours ago, lkn said:

I think the point was that a registered FA would not do this, in fear of being fined. You can have a look at press releases from the SEC, I grabbed the headlines of about a dozen related to crypto which are below.

 

Granted, some of this is about fraud or unregistered securities, but notice they also go after promoters of fraud, even if the promoter didn’t know it was fraud, and even if what they promoted wasn’t a fraud “per se”, and none of these people charged are even registered FAs. So I don’t think a registered FA would touch this with a ten-foot pole. I have seen one U.S. bank (I think it was JPMorgan) say they allow wealthy (or maybe it was ultra-wealthy) clients to invest in crypto (via ETF), but only if the client ask for it themselves, i.e. they are not allowed to suggest this to the client.

 

• Two Celebrities Charged With Unlawfully Touting Coin Offerings
• Actor Steven Seagal Charged With Unlawfully Touting Digital Asset Offering
• SEC Charges U.S. Promoters of $2 Billion Global Crypto Lending Securities Offering
• SEC Charges Film Producer, Rapper, and Others for Participation in Two Fraudulent ICOs
• SEC Charges Three Individuals in Digital Asset Frauds
• SEC Charges Robinhood Financial With Misleading Customers About Revenue Sources and Failing to Satisfy Duty of Best Execution
• SEC Charges Bitcoin Entrepreneur With Offering Unregistered Securities
• Telegram to Return $1.2 Billion to Investors and Pay $18.5 Million Penalty to Settle SEC Charges
• SEC Charges Poloniex for Operating Unregistered Digital Asset Exchange
• SEC Orders Blockchain Company to Pay $24 Million Penalty for Unregistered ICO
• SEC Charges Global Crypto Lending Platform and Top Executives in $2 Billion Fraud

exactly, and thanks for the amusing headlines from the SEC. Reading those cases are actually quite entertaining. SEC enforcers must have a laugh a minute with those clowns and the stupid excuses they come up with ????

[GrandPapillon]

and for those saying "do your research",

 

there is no research, anyone with a brain can see it's all vaporware and a tool to scam idiots,

 

"research" in the crypto world is a "self-promoting material" explaining in details the heist ????

 

and the poor suckers still go full ball deep simply because they were explained how they were going to be robbed ????

 

Edited November 16, 2021 by GrandPapillon

[GrandPapillon]

3 hours ago, lkn said:

Actor Steven Seagal Charged With Unlawfully Touting Digital Asset Offering

why am I not surprised ????

 

did you know in the early 2000s when he was living in Thailand, he was a regular poster on Thaivisa ????

 

he might still be, and posting in the crypto forum ????