Ethereum

Been reading a bit a bout it, looks pretty interesting. Think I might invest a bit into it. Anyone here familiar with it?

 

Yes, I am quite familiar with it. I bought in heavily just after the hack and continued to buy under 0.019 BTC. After the rather big pump we saw last week I would give it a week or two to settle and see where the market is it. If I had to guess at the moment, I would say under 0.021 BTC would be a good buy price.

If you are planning to hold a coin longterm, I would say Litecoin is potentially the best buy at the moment. It's market price is roughly at its lowest and in terms of market cap it is fourth. It is also arguably better than bitcoin and will be seen as a great bitcoin alternative. Especially by those who see bitcoin as too expensive for them to buy.

 

Hmm never really looked into litecoin, and yeah I'm looking for something a bit longterm

 

Ripple and Litecoin are pretty much at their all times lows and have a 3rd and 4th position market cap respectively. Each time a Ripple transaction is made a Ripple coin is destroyed so it has a deflationary aspect to it. Both Ripple and Ethereum are starting to be used by banks. In fact, the last Ethereum price rise was probably due to news that the Santander bank was using the Ethereum network.

Longterm, buying Ethereum now is still a good idea. But I think you will get a better price if you can hold off a little in the short term. I am buying heavily into Litecoin and Ripple since the price is so slow.

 

Interesting, your information helped quite a bit, wasn't even thinking about Litecoin or Ripple when I was thinking of investing into Ethereum, think I'ma poke around for a bit and do some research

 

Glad I could be of help. coinmarketcap.com is a useful website. You can also open a portfolio account at cryptocompare.com and make some fake speculative buys and see if your price has decreased or increased.

For trading analysis you might want to check out the "coinigy bitcoin" youtube channel. They do alt coins and the information is very good.

My golden rules for bitcoin and alt coin trading are:
1) never spend more than you are willing to lose
2) never ever ever buy on a high. The price will always come down if you are patient

 

Do you happen to have any recommended places to buy Ethereum or Litecoins

Also some secure wallets

 

Generally, I will only use the official coin wallet. It's too easy for someone to create their own wallet and then steal the user's coins once the wallet gets some support.

So for Litecoin go for the official wallet. Same with Ethereum, or if you have some money to spend you might want to look into the Nano S wallet by Ledger Wallet that supports both Bitcoin and Ethereum. It's a hardware wallet and you can use it on any pc even if its infected.

Lastly, I would recommend Poloniex as a trading exchange. Assuming you want to exchange cryptos for Bitcoin.

 

Before investing in it, read up on the DOA hack and how that was dealt with, the blockchain growth issue and the current DDOS attacks against there network.
I also recommend poloniex as exchange.

Using the network and using the currency are two different things. Hasn't developement on LTC ground to a halt?

 

I am a coin trader. Personally, I welcome anything that has the potential to 'damage' the reputation of the network in the short term. The DAO hack was great for making money. I see a brighter future for ETH than ETC.

As for LTC, yes the development has decreased but it still has a large market cap.

To anyone else reading that wants to invest in ETH. It has dropped below 0.02BTC today and I would consider this a good buying price and I have bought some. Although I hope for a drop below 0.019BTC.

 

I doubt ETC will be about in a years time. ETH brought new technology to the market which is complex and has it's short-comings thus far. ETC just seems like a clone that leaches from that and nothing more. They don't tend to end well based on previous clones of other things in the past. I haven't looked at it much on a technical level but given the name I think that's a fair assumption to make?

Any bad news has potential to be profitable, if your the owner of something receiving the bad news that usually isn't the case though.

 

I was given ETCs after the hack due to my ETH holdings. I sold all my ETCs. It was free money as far I was concerned.

Like I said, I am a trader. I feed off the market's fear. Anything negative that happens to an altcoin's network will benefit me in the future.