Litecoin on Sale: Get rich or Go Broke Trying

[Gravel PitParticipant]

Let’s start a new thread about buying Litecoins and trying to safeguard them. We can advise each other, learn from each other, since most of us are new into the crypto arena.

As far as Litecoin goes. It was $60 for damn near all of 2017 and then suddenly increased several hundred percent for the last quarter. Because I bought a lot of it at $300, and now its slipping, I plan to wait until Valentines Day (MGTOW International DAY) or even until St. Patties to see if I can buy more at such a low price.

But here is the thing, we cant predict what it will do. It may be taking a break right now for Xmas and New Year, and then it may go back up to $300+ for the rest of the year, or even go beyond that.

My hope is to buy a decent amount of Ripple and other little ones. Set bowling pins up and let them grow cobwebs. Then, down the road, I will polish up the bowling ball and knock em down.

[CarnageParticipant 22113]

That’s the thing.
That’s your plan, my plan, everyone plan… who is gonna pay for it?

I have a few ripple, iotas, litecoin, we can’t all get rich.

I ain’t putting another cent on cripto.

Something here is not right, and you know it.

To those following me, be careful, I just farted. Men those beans are killers.

[SandalsParticipant 4253]

Ok, that’s a good thread title, because it acknowledges there’s some serious risk here. I hope I didn’t come off as too much of a jack-ass on the other thread. I am actually interested in this.

I tried accepting bitcoin for my business a few years ago, and I couldn’t figure the damn thing out. And I’m a computer guy.

Also, the whole thing with Liberty Dollar being raided by the FBI really p~~~ed me off, and made me realize the government is just one big mafia extorting all of us for our money. These things leave scars.

First, I think if the gubmn’t can track you, then there’s no need for a cryptocurrency, we may as well just use dollars. So that’s a fundamental right there. The only point of crypto currency is privacy from government, as I can see it.

But I think this is a good thread. I am interested in following this stuff. I don’t want to derail this thread. But if I want to accept a cryptocurrency for my business, what steps do I need to take? I think that’s a necessary question, isn’t it?

[MarketWatcherParticipant]

Got lucky today. Grabbed some Litecoin at $200 before GDAX and Coinbase halted trading. My plan is similar to yours. Grab up as much coin as I can, get my initial investment out and let the rest run.

Good luck and remember to HODL.

[MarketWatcherParticipant]

Carnage wrote:

Something here is not right, and you know it.

Yes.

MarketWatcher wrote:

before GDAX and Coinbase halted trading.

^That is some fishy s~~~.^

[Gravel PitParticipant]

Sandals wrote:

But if I want to accept a cryptocurrency for my business, what steps do I need to take?

I run a business. I’m not going to tangle up my business in crypto payments for many reasons. I’m not the only owner, crypto is volatile etc…

I concede all these points to everyone:

1. Its not real money and will likely never be used as such, especially in the next 5-10 years. We’re not going to be eating lunch at restaurant’s with Litecoin anytime soon.

2. It’s invisible, no one understands it, and at any moment it could be totally outlawed, hacked and stolen, worth little to nothing etc….

3. Other credible arguments against crypto ad infinitum….

I argued against this trash for years while Bitcoin crept up. My biggest fear is that you buy in, not knowing the technology and its all stolen from you in a split second. A scam.

Yet, people who have been doing it for years have had little to no problems. All investments are a risk.

I do not plan to use crypto as currency. Honestly, I want hold it until economic downturns and fear of fiat currency create panic and people start buying it hardcore. That is when I plan to sell. I have no issue paying the taxes and I’m not using it as a 401K, longterm retirement type thing. I’m simply putting $1000 (maybe $2K or less) into it (knowing full well it could vanish into thin air for a hundred reasons).

Why would I do this? Because after 5 years of watching this crap, you see something like what happened in this last quarter, all over the proposed introduction of bitcoin into furtures trading. You get 1000’s% ROI’s. People got filthy rich.

Carnage wrote:

Something here is not right, and you know it.

I’ve conceded all points, know the risks and know it could be a total loss of the $500 I currently have in there. The thing is, I’m willing to take that risk on account of what has transpired in the last 8 months. I’m ready to lose it all for a very slim chance at massive returns. I spend $500 and more, every year, on junk like Tobacco or shoes, or other frivolous items. I can handle the loss here and not lose my home.

Carnage wrote:

That’s your plan, my plan, everyone plan… who is gonna pay for it?

The people who pay for it are the ones that either by necessity, have to start buying digital currency later, or get panicked or drawn into it somehow. If Bitcoin, at $4000 a coin back in September, can quadruple itself over something like a few news articles, that is amazing. The exchanges are backed up for weeks trying to verify new buyers. Who are these new buyers? There without a doubt, a bunch of 30 year olds who have known about this stuff for years but balked at it. They aint balking no more.

They want in and they’re gonna stay in and HOLD. These were the first wave of naysayers who have been convinced that there is a remote possibility of real wealth. Imagine the 2nd, 3rd, 4th, ….waves of people who will likewise be convinced and start to trade.

You don’t need a broker, you just start a coinbase account. Its worth the risk because everytime they release an positive article about crypto, people start buying. Everytime they release a negative article about crypto, prices drop and people buy more! Th earlier you’re in, the better. And if you’re only in for a lil bit of money, set your own comfort limits for what you’re prepared to lose.

Believe me. I hated the crap and mocked it hardcore. I saw what Vention was doing and pitied him for like 2 years. I finally started to believe in it about a year ago but regrettable sat on my hands. That wont happen again.

Now, I’m not some big advocate for conspiracy and I don’t predict the Armageddon type scenarios of fiat collapse and what preppers say will happen lol. I think the dollar, Yen, and Euro will be around for many more centuries to come. Like I said, I understand the illusion that is crypto but people are buying it and will continue to do so. This junk may just be the future.

Imagine me telling you in 1995 (I was 9 years old) that you should buy stock in Intel, Apple and Google. I don’t even think Google was up yet. People would of laughed their ass off at the idea of it. Well, that was me laughing about bitcoin for the last 5 years. We have to remain reasonable and logical, yet, I will never underestimate it again. Its being labeled as “property” not currency, its being traded on wall st. Big Wall St. people and companies like Amex are shuffling their feet.

The time to get in was a long time ago. I used to laugh at Bitcoin when it was $300. Now I’m buying Litecoin at the same price. I’m willing to take the risk.

[Gravel PitParticipant]

Sandals wrote:

the government is just one big mafia extorting all of us for our money

Its true. I have no delusions of grandeur. I expect to be waxed off by hungry thugs if a true bad event happens. I have no water or guns. LOL. I’m a low earner with no education or notable assets. I will always be a pawn, average, middle class. I don’t pretend I can hide from taxation or ghost the system. I’m a realist and pessimist for sure.

Sandals wrote:

I hope I didn’t come off as too much of a jack-ass on the other thread

I of all people, always get passionate and mouth off at people online. On MGTOW though, I try my best to understand that we are all on the same team. I don’t need to get angry or cause resentments at people who are on a journey here at mgtow.

It may sound soo gay and emotional, but I love the men at this site. I’m proud to tears for the brotherhood (as thin as it is some times). You and the other men here are me, the other man is you.

[MarketWatcherParticipant]

This is the kind of s~~~ that p~~~es me off. Part of the game. I know, but to halt trading when s~~~ starts to top out or bottom out should be illegal. When coins get regulated Coinbase will be done.
https://www.cnbc.com/2017/12/22/coinbase-one-of-the-biggest-bitcoin-marketplaces-says-buying-and-selling-temporarily-disabled-amid-price-rout.html

[Gravel PitParticipant]

If they get accused of insider trading or some crazy press is going on, they cease trading. This is actually a smart thing to do. However, trading is not halted right now, I just bought some Bitcoin. People are trying to buy because its super low.

This is why I’m into it. I know its psycho and invisible, totally surreal. But everytime they give bad press, the prices go down and people buy even more. When the prices go up, people start new accounts and buy it.

Either way, the long trend is buying buying buying. 2018 is going to be wild. Buy and HOLD.

[MarketWatcherParticipant]

Gravel Pit wrote:

This is actually a smart thing to do.

It is also very greedy and being disguised as a technical issue.

Gravel Pit wrote:

Buy and HOLD.

The new hot term for hold is HODL. Like I said in another post Reddit is the main rumor mill. Worth checking out.

[MutineerParticipant 1467]

How does one buy litecoin?

"The secret to happiness is freedom... And the secret to freedom is courage." - Thucydides

[HitmanParticipant]

I’m just letting it ride………….
no worries.
it’s going to fluctuate.
go with it and have some fun,
don’t bet the mortgage money on it though…

[Gravel PitParticipant]

Mutineer wrote:

How does one buy litecoin?

Simplest way, if you’re in the USA is create a Coinbase account. They will charge fees for doing just about anything. But it is the quickest and safest way to get it. I’m very new to it as well.

If you’re trying to buy Bitcoin, apparently localbitcoins.com is the way to go. I have yet to figure out how to successfully make cold wallets and stuff like that, to get the stuff offline.

You don’t actually possess coins. The blockchain and cypto is spread out over the whole world. What you possess is a Private Key. On coinbase, you don’t get one, they do all that for you. You just have an account with them like a broker firm.

MarketWatcher wrote:

HODL

Yeah, I see that everywhere and looked it up. Crazy memes these days heheh.

[MonkeyMindParticipant 5340]

I’ve been thinking of doing some Litecoin mining.

I didn’t get in on Bitcoin while it was cheap out of pure lazyness. It’s way too oversold now. Once everyone starts trying to get in on the act, you know that it’s time to sell.

[Gravel PitParticipant]

The massive buying surges in November could have only resulted in what we saw, old buyers finally cashing in a few chips.

They needed some holiday spending money.

Anyway, I think the big surge and inevitable correction is largely done

Bitcoin stopped plummeting for the moment and even went back up to $15,000. Litecoin is back to $309

Happy Holidays. 🙂

[The Batman 2020Participant 2112]

I finally accessed my bitcoin wallet and was able to transfer it all into litecoin before it took off. I’m sitting good and buying more on the the dips, hodling!

Your 20's are for learning, your 30's are for earning.

[Gravel PitParticipant]

Roger that Batman, I’m still buying in too. Nearly all Altcoins and Bitcoin, more than quadrupled their value in 2017. I’m convinced that they will at least double this year or better. I’m buying as much as I can afford to lose and I’m checking in daily.

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