Win Some, Lose Some – 30 Day Cryptocurrency Challenge – Join Us! Day 17

hello mark you dragon also knows Marcus Eikenberry in real life and welcome to day 17 of the cryptocurrency challenge so how are things going for you is the challenge going well for you okay so here is my thoughts currently on the challenge there's a couple things I want to show you what would happen if you just invested in Bitcoin and did nothing else and and a little bit of experience of trading some other alt coins that went good and not good so also I think that you know today now I'm not a financial adviser I got to say that you know don't follow my advice you know use it as a piece of your information make the decisions for yourself you know the drill so because I have lost money and I've made some money in this market and but you know I'm not the end-all adviser on this stuff so I do see an opportunity right now which is in etherium aetherium right at the time of this recording is under $300 when it's under 300 to me that's a buy point because it'll hit you know I would I would you know if I had funds to put in it right now which I've got him tied up in litecoin for the challenge funds I would buy aetherium right now and I would hold and I would sell at like 306 307 so buying at 300 and then selling at 306 is a two percent increase and so that's a that's a healthy amount to take couple of days to get it but you know we can show here like this is the 26th and it went all the way up to up to 311 but I think 306 307 is is a fair mark and you know so then we've got it hit and you know here on I don't know what day this is looks like the 28th 29th 30th and then here again on the 3rd and on the 4th so I think it's a I think it's a pretty safe bet to get a couple of percent in a cup of days and so now I play I've been playing litecoin kind of the same way and I've been buying in the range of 54 getting lower in 55 or whatnot and I've got to sell orders here at 56 78 and 56 79 they just happen to end up right next to each other and mmm so I'll make a couple of bucks on that I've done okay on my light claim trades I haven't taken any losses on them I have had to hold a few times for you know like right now I've been holding for two days and so you know hopefully I I'm not gonna make 2% but that's okay you know I'm coming too I'm coming to understand in this I call it a game but you know in investing with this stuff that you really got to be willing to hold stuff and and you've got to be able to take time to make better decisions so anyway now so I've made a few percent back on this by buying and selling here in litecoin and I brought my balance back because I went negative right off the start and so I'm still not positive overall and you know that's just that's just the way it is so but I am coming back up in in my value and everything and I hope to be in profit by the end of the challenge now with that said with Bitcoin Bitcoin continues to do well and you know it's becoming apparent to me that bitcoin is not based off of off of stock market type of influences and everything Bitcoin is based its influence off of media and off of off of people's love for it now that doesn't have a concrete value in the real world meaning that there's no brick and mortar company behind this that that is part of the value of Bitcoin and so so the value of this is really in people wanting to use it and every time another country seeks to squash it to you know make it illegal or whatnot it seems to really strengthen its value because because this is the people having an opportunity to you know take some of their take some action for stability possibly in their own lives where their governments say no you can't do this and all governments have issues and so this keeps coming back I don't care what country you live in but this keeps coming back as being a theme here that that this is not controllable by any government and because of that that has its value its strength and so if you look at it that way I mean like in the examples of China banning it and Russia banning it and everything every time it gets banned it dips down and then it rallies even higher and and so people freaked out oh my god it's being banned it goes down a little bit and then and then around these up past that other point it's at 70 about seventy five hundred right now and I can't see the end of this going up so here's my plan for the remainder of the challenge and and I and I reserve the right to change my mind is that when my light Queen cells I'm gonna wait for an appropriate moment sometime during a day or two from when my light Queen cells and I'm gonna put it all into Bitcoin and I'm gonna leave it there for the rest of the challenge and here's why so in in the challenge here currently I'm at you know as of last night 94 43 you know we started out with a hundred bucks and I had made games the last couple of days prior to that doing trades in litecoin 4% and and and you know a little over 2% and everything and so those were nice but I haven't gotten a flip yet so I'm still waiting on finishing that and so then I'm gonna put it I'm gonna put it into into Bitcoin and here's why okay so Bitcoin right here I did this snapshot thing here where let's see here let's move that up a little bit where we this is the end date and I'll be putting in the end date numbers but just for the moment I put in the numbers of today and as if we were ending today or what not and Bitcoin on October 20th was fifty nine eighty nine and today right you know just before recording this seventy four seventy seven that is almost a twenty percent change a profit if we were holding a whole Bitcoin of fourteen fifteen hundred dollars and and I think that this trend is just going to continue and so after I saw my like coin I'm parking everything in Bitcoin and that's where I'm gonna ride the rest of the challenge you know unless something changes it says I should do something different which the Segway x2 split comes up on the sixteenth and so we're not really gonna know what's going on at at the time we end this because the markets will just barely be turning on for for the fork and everything when there's question about whether or not this is the Segway x2 the way that that coinbase talks about it they're talking about it as an upgrade meaning that it replaces you know Bitcoin and but it's not positioned 100% that way it's more positioned as a fork and so it's really crazy it's really crazy I don't know which way to lean on it I don't know what I'm doing with it I do know that what I've decided to do is I've decided to put my my Bitcoin that I have that is not in the challenge I've decided to put it on coinbase and I'm gonna be there for the split and it's because they have stated that pretty much within 48 hours of the fork that I'll have access to both currencies and but they've also said whichever whichever fork has a higher hash rate is the one that they will call bitcoin meaning that if the seg wit x2 fork is a higher hash rate a day or two after the fork then then the bitcoin fork other side you know then they are going to start calling it bitcoin and that's confusing as all hell and I don't know if they're gonna change the call letters you know if they're gonna rename it BTC and then Noah and then they're gonna call the old one Bitcoin classic or something like that I have no idea but I just feel like it's the best place to be for both of both of them and there's also wording that they have that leaves it open that the segwayed x2 changes but literally overwrites the original bitcoin and so that does concern me a little bit but I think that if they did that that there'd be a huge revolt and so I think that that's very very unlikely but it concerns me that they leave things open for stuff like that and and maybe they're just maybe they are just floating with whatever the whatever the general population of Bitcoin miners and people doing transactions do so they can just float wherever or maybe they're trying to influence I don't know so it's very hard for me to read but I can say based off of the last two weeks of Bitcoin and my trading and how I've done that that it's a good bet to put my money into Bitcoin and leave it there I mean this is this is a to just over two weeks on on this that it is a 20 percent increase so maybe I can redeem myself and get up to my percent a day if I'm lucky at this rate I'm not gonna hit that if I do this right though it will hit it now bit or it'll all have profit so Bitcoin keeps rising but yet aetherium has been steadily between you know to 95 and you know 305 it just it seems to sit in that range and from what I understand about aetherium is that it's designed to keep its value in a particular range litecoin it's been up and down it doesn't have the growth rate like like Bitcoin does and it acts a lot more like theorem so now let me just let me show you something else here so this one happened yesterday it's called V cash xvc and and I made some money on this and I lost some money on it and so this one yesterday just took off like a rocket and so you know down here at at like this point here you know it's at 113 and and it went all the way up to 289 now this is only worth a couple of bucks and and I rode this I did a I did a buy down here and a sell up here and I made like seven dollars and and I was pretty proud of that I thought only okay that's that's pretty good and then I thought maybe I could ride it up higher and so I bought in again when it went down a bit I bought in again and thinking that I'd be able to you know maybe replicate that action but instead what happened is I ended up writing this dip down and I ended up selling short and I ended up to where you know I made seven bucks and then I lost all of that plus a bit more so you know the this stuff kind of frustrates me because because I keep making wrong decisions and I'm I'm not dumb I'm not a dumb guy and so you know it's I need to better learn how to read these patterns and everything and maybe it's just that the you know day trading type of stuff is not for me and I need to look more at it being an investment and so you know can I read ahead in these things and buy somewhere in here and then you know when it when it you know skyrockets or whatever sell off some point in here and then just look for the next opportunity that I sit on for a couple weeks or more there are those opportunities one of the one of the ones that I do deal with is Z cash and so Z cash right now has been at this lower point but historically it's been higher and and those news that came out about this yesterday about about some of their privacy stuff for Z cash and everything and and you know I was kind of hoping it go up but this is also what I mind and so I've been mining it and sending it directly to bit tricks here and posting it for you know posting my dailies for sale and eventually they will they're gonna go back up into these ranges and so I was able to as a miner even though I'm you know working at lower rates right here I fully expect this to go back up in the future and so I have these higher sells listed and when it does it'll it'll make me some good money but I'm sitting on it for right now and and that's okay so I'm I'm starting to look at this more as a long-term thing than a short-term thing I'm not I'm not as good at the short-term stuff and I think you have to dedicate a lot of attention in the short term I mean a lot uh yesterday spent hours working on you know working on the trade for V cash and everything and I was pretty proud of myself you know making some some good earnings you know yesterday but then I was kind of disappointed what I lost it back again the people who got in early on this they I saw people yesterday make a hundred and sixty percent on their money and and I saw some people that had an incredible amount of these coins and so good for them you know so I saw I saw one person yesterday that showed screenshot and and they had like two hundred thousand dollars worth of these coins and so you know if they were able to double it they turned two hundred thousand into four hundred thousand dollars holy cow yeah and that's the kind of thing that that drives us that that we say wow I could be Fritch and and so but but that same stuff seeing that same stuff causes blindness and and it causes you to make bad decisions and everything and so that's something it's like this self control that you really got to work on when you see stuff like that like holy cow you know you can make a ton of money if you make good decisions but the whole thing of making good decisions I think I think that for those of us who don't understand the math portion of it of you know that you know this equals this equation and stuff like that there's a lot of simple tools out there for mapping these things and seeing when it's gonna most likely break out and stuff like that but it doesn't always it doesn't always match those patterns and that's what happened yesterday is that in the beginning made good money and then we there's other patterns that looked good and we kept holding on and finally I just had to dump out her to the loss because I wasn't gonna let it sit overnight and and it's up just a little bit from where it was overnight and so I feel okay about where I dumped out at but I don't feel okay about losing any money and so but if you take a different stance on this like you research each one of the currencies that you're in and you understand what their game plan is what their purpose is in everything and so when their purpose is lighting up in the media or that they're making good advancements then their coin goes up and that's your opportunity to to look at selling and so if you can gauge those things in the future then you will be able to you know make good decisions educated guesses on on buying in on stuff really cheap and but you got a hold and and you got you still have to pay attention but it's not down to the minute paying attention it's like okay here's the things I'm checking on in the news today and then I rinse and repeat and do it again tomorrow or do it in the morning and do it in the evening and so I think that that is that is what my plan is going to be plus doing mining and I will be doing mining videos I know you guys keep asking for it they're just not ready yet but they are coming and I'm going to show you how to mine probably Z cash first but then also some other currencies and show you how that works right now off of my equipment I'm making four and a half to five dollars a day at the current rates the Z cash is at but if I you know wait and sell on the peaks and everything then it turns into you know like seven dollars a day and you know you think okay seven dollars day that's not very much well think about it you know so you know three months at seven dollars a day is six hundred and some odd dollars and you know six hundred some $1 there's nothing to sneeze at so you know and that's that's you know two hundred and something a month yeah that's definitely you know it's definitely money that you can reinvest back into stuff and and try and make it grow or spending money you know or you know buy yourself more equipment so you can mind more or buy yourself some education so you can trade better anyway that is it for today do in the comments tell me your experiences there are some links in the description to our discord where we've been talking about talking about trading also to the reddit group where there are some experts in there that are making calls that that I have made some money off of and I've lost some money off of but they seem to know more than I do so I keep listening and learning and so I invite you to join us in there I'm marki dragon take care

8 thoughts on “Win Some, Lose Some – 30 Day Cryptocurrency Challenge – Join Us! Day 17”

  1. Great Vid- i myself yousto trade quite a bit in regular stocks back in the day. Never ever break the golden rule-Buy low sell high. Yes watching your money disappear can be stressful but never ever break that rule-Way back in the day i bought Yahoo stock after there quarterly's came out- the price halved, it was glorious, I then bought a few hundred worth and to my dismay over the next couple of days it kept going down! i freaked out and baled. Needless to say, I should of had patience for one more week and it normalized. If i held on to it i would of made $150 instead of loosing $50-ah good times and stressful days 🙂 – thanks again for the vid

  2. Also, if ya'd like some assistance reading the charts, I dug around a long while from articles to videos and there's a guy on Youtube called Decisive Trading and he's got a great guide/playlist on them. Not everything applies as he only focuses on stocks, but the same principals apply. I'd super suggest his stuff on Resistance and Support, followed by his favorite candle patterns.

  3. 8:20 Isn't Coinbase onboard the seg fork? I'm not surprised they'd paint it as 'an upgrade' if that's the case. I don't have any funds in crypto at the moment so no dog directly in the fight, but considering your Will The Real Bitcoin Please Stand Up a few days ago, I'd be very leery of this going live. To me it sounds no different than someone claiming their stock will have the identical name as a famous, well performing one. That will only make things confusing, and confusing leads to worry and people dipping out. Plus, I don't like that Bitcoin has grown so fast so quickly, last year their gains were insignificant to this year, so I feel like it's hype and FOMO alone pushing it to constant new highs. I suspect hype will collide with reality and cause a collapse if the if a big enough event hits, like a confusing and hostile fork could very well do. Not very long ago Ether dropped to 10 cents over a period of seconds because of a runaway Stop Loss effect, so I'd wait for that to go live and see what the stocks say, specifically on GDAX as they are supporting this change while other exchanges are not.

  4. The problem I have with valuing bitcoin can be summarized by this thought. How do you value bitcoin if there isn't a secondary currency such as USD to give it a relative value? Imagine trading bitcoin on an island, would prices in BTC be stable, or always decreasing as the currency value increases? One day a haircut is 1 BTC, then 0.85 BTC the next week. That doesn't seem to be obvious to the layman because there isn't a stable metric to measure value.

  5. I've done 3 things for this challenge. 1) $100 in BTC to hold at the start of the challenge. 2) $100 in GDAX to day/position trade, 3) $100 into a traditional long-term investment account (Vanguard – 90% stocks.) So far I'm at 1) 33% gain. 2) 4% gain 3) 1.2% gain

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