Though we may be all engrossed with it, the cryptocurrency world is still just a tiny drop in a very big ocean. Bitcoin’s $9.5 billion market cap is positively laughable; there are over a hundred individuals who have a higher net worth than that.
What I mean is this: Bitcoin, Safecoin, %&!#coin are all in their infancy; they may end up as insignificant historical curiosity, or they may change the world. In the latter case, we’ll have to think in trillions of market caps: just the global narrow money is around $30 trillions, stocks, broad money, debts, derivatives, etc reach into the hundreds.
What the current internet is saying us about the SAFE Network’s value, translated in 1 pic.
Huh. Take out the S (just SafeCoinFarmer.com) & it’s only 3 bucks?
Or try safecoinfarmers.club.
So far the down pressure is big compared to upside pressure and the volume went down a lot.
I hope today the dev update is not only about the equity sale cause that would suck.
Up 59% in the past three months, up 363% in the past year, up 566% since inception…
Spot on… some can’t see the wood for the trees because they watch price too closely and get too emotionally invested in every penny swing.
Doesnt give any idea about the future does it ? There will be a bottum and a top always.
Still bullish long term but might see some bigger drops still comming
I have no idea what your trying to say here, cause everyone knows that a market that went up 566% also can have a correction to almost any fib line, isnt that what this topic is for ?
emotionally who ?
My comment was primarily directed at HelpMe’s post, although I don’t really understand your points about price movement?
Well yes, anything can happen, but what HAS happened is the market value of maids has steadily increased as the work accomplished has given it value. If you zoom into that story there are a lot of fluctuations and reasons for them. If you’re trading those fluctuations then you are emotionally invested in them and it clouds the bigger picture. Most people on here are not trading so much, so we don’t get as upset and throw toys out of the pram like HelpMe did when the price dumped 5% for all of 30 minutes. You did also sound a bit despondent, but not inappropriately given this is the price & trading topic I guess.
I trade this swings they can bring great increase in your holding.
And traders who trade the swings should specialy not be emotionally cause that will not improve your trading skills at all, actually thats one of the first things you learn when you start trading. So you dont make mistakes like for example buying more to cover up your loses etc. I have couple 100k coins in a coldwallet for the long term and beside that i trade maidsafe 2 ways, everything that will come up will also have some corrections.
I would like to humbly disagree here, but that’s a matter of trading style I guess. I’m a long term holder and choose to ‘average down’ every now and then to extend my holdings and to somewhat cover my losses made with my previous buys. So I don’t see it as a mistake, but as a trading style that I have.
I was more reffering to panic buying cause your in a losing trade ;).
Lowering your average is always a good idea, just sometimes with this volitality it can
be a bad decision. If you do it by riding the waves i mean.
Sounds like the best strategy to me. I don’t have the time or the inclination to get into trading and feel that even if I tried it as a living, buying and holding would be the better strategy and that’s not including the opportunity cost of the income lost from not working. I’m invested because I’m optimistic by nature, probably naively so, and I’m a neophyte when it comes to understanding the tech, but also the challenges of what the Maidsafe team are taking on. That said, I think I’m a good judge of character and I have enormous trust and confidence in David and Nick, despite never having met them.
My own wild-eyed guess about price, is that there is massive risk/reward asymmetry, or in simpler terms the upside massively outweighs the downside. The reason I think this is that my (probably uninformed) view from listening to people who work in the crypto community but not for SAFE is that the vast majority are sceptical. Most people seem to believe that the only thing being delivered is promises. Jameson Lopp’s (who I respect) recent tweets are a typical example of this. So, if an anonymous, fully automated, P2P network is delivered I think it’s going to absolutely stun a lot of the people who work in and take an interest in these things, much less the world at large!
The rational thing to do as an investor when presented with this kind of asymmetry is to bet, and bet big. I don’t really think I’ve bet big, but I have enough of my net worth in maidsafe coin to make any self-respecting financial advisor have a heart attack, even though it’s only about 20% of my investable net worth and I do also plan on buying equity! And, if for whatever reason the network doesn’t work as planned there will be no tears from me and the much greater loss will obviously be felt in Troon.
We could/should be friends IRL. I think we can get along pretty well, reading your long, honest and well thought reply. Thanks bro, you word it well. I could have written it if English was my first language.
Absolutely! If ever you are in Paris and want to grab a beer or a glass of wine , shoot me a PM.
I might just do that someday! In fact, Paris is a 6 hr drive for me and I have plans to also visit a friend in Rueil Malmaison. I’m sure you know where that is.
Yes, it’s where Marie-Antoinette hung out back in the day. Probably a good place to be plotting a (financial/communications) revolution I used to live just west of there!
Indeed, big plus one to all of that! All the nail’s on their heads.
By the numbers, the best thing to do is bet small, but find lots of these asymmetric bets if you can. The risk tapers down, while the average returns are maintained. In short, the portfolio becomes a sure thing.
Back in 2014, many viewed 2% of your nest egg into Bitcoin was considered sensible.