I've got a bit of extra $$$ that I'd like to turn into $$$$$$
It's a high risk buy, that could have large gains. I would buy ETH over BTC, or split 70/30. BTC has serious development issues. I expect that BTC could run up substantially due to the upcoming reward halving, but IMO ETH has far more long term potential.
I would buy and hold for something like 4-5 years.
Also, ETH is close to working out its DAO crisis, so the price is likely to increase after that resolves.
As I graduated tonight and am currently badoodlydoo'd, I will hold off on all decisions until at least Sunday.
Do not treat a currency as a stock. If you have a huge amount of money, and want to take a risk, and think that risk will succed, by all means do it.
However, if you want to make $$$ into $$$$ than you should just invest in a diversified stock portfolio and expect a 5 to 10 percent increase per year over the course of a few decades. Do not panic, do not sell, do not try to game the market, do not do anything but wait.
- However, if you want to make $$$ into $$$$ than you should just invest in a diversified stock portfolio and expect a 5 to 10 percent increase per year over the course of a few decades. Do not panic, do not sell, do not try to game the market, do not do anything but wait.
I agree with this advice with the caveat that there is much evidence to suggest a better entry point may be coming in the next year or so. If the plan is to start a monthly deposit, then no big risk of starting now. But, if pabs wanted to drop a chunk of money down upfront, he might consider waiting for the next recession/correction, which come in cycles that we haven't yet been able to escape.
I got very lucky by starting to invest in earnest in 2009. Had I started in 2007, my portfolio would have less than half the value it has now.
BTW, I wish the US treated ETH and BTC as currencies.
Can you give a short summary of the evidence you see for an impending recession?
It's hard to weigh effects and sort the information out of the permanent "dim and gloom" background noise.
An extended drop in industrial production without recession seems very unlikely:
https://fred.stlouisfed.org/series/INDPRO
Shiller P/E is well above the historic mean:
http://www.multpl.com/shiller-pe/
Corporate buybacks are dropping, and dividend cuts are rising:
It is all very suggestive of the end of a credit cycle.
Thanks. I hadn't seen the industrial production data before.
buy ETH, not BTC
Edit: But knowing your situation, find a way to invest the $$$ in yourself, pabs.
insomniasexx, isn't there a fellow that will help you recover funds in these situations?
Is it Dave?
walletrecoveryservices.com
Is it Ledger Labs?
Is it brute forcing oneself?