Who is your Crypto Prophet? There will be no do-over!

Who's your Crypto-Prophet?

Have you ever just sat and wondered, what with all the Wall Street, banking and financial experts in the world, why more people aren't uber rich and living the dream? I mean, they all know what's going to happen today, tomorrow and in the future, right? Or so they all say.

Take Wall Street stock brokers. The average earnings for a Wall Street broker is $72,060 (2016). That is not a lot of money in NYC. Sure, there might be a few that excel at making enough to drive the Lamborghini, but it is the brokerage houses making all the money... from all those investors who trust them with their money. But if the business of picking financial success stories were so easy, everyone on Wall Street would be rich.

Then there are the financial consultants who spend much of their time marketing their business and recruiting new clients. Think about that for a few.

There are the many consultants, advisers, confidants, analysts, stock pickers, and those who provide exclusive analysis on how and where to invest your money (as they take a good chunk of it to do so). It's the science of fundamental analysis versus technical analysis, which if it were ever truly understood and perfected, would make us all rich.

I know all too well about fundamental and technical analysis (as an applied science)... I was a weatherman for the better part of my working career. It has been said that weather people are the only professionals who can be wrong more than half of the time and still keep their jobs. On wall street, a picker can be wrong (a significant percentage of the time), but as long as they are making money for the brokerage, they too get to keep their jobs.

Nothing is for certain in gambling, the stock market, cryptocurrencies, or horse racing, except for in the financial sector where emotions play a large part in the decision making process. There is too much emotion - When to buy? When to sell? When to HODL? It is all guess work - Educated guesswork, but a guessing game nonetheless.

Did you know that most people familiar with the horse racing industry will tell you that once you can read, and fully understand a race form, it is time to quit betting. They say too much information taints or skews the guess. I can read and comprehend a race form but I choose to read the minimum information and simply go with the color or attitude of the horse... or the jockey. KISS!

After reading more than I care to about the prospects and the future of Bitcoin, I have heard all I want to hear about BIP's, Segwits, hard-forks, soft-forks, etc. August 1st is amost upon us. All the crypto experts and prophets have made their prognostications. Their voices have been heard. Everyone is positioning for success and it all amounts to this - Those who guess correctly will gain instant credibility, the others, well... not so much. They will salvage what they have left and try to rebuild their reputation. And right now, unless someone has some real hard-core inside information to provide me (which is not regulated per se in the crypto world, yet), I am going with my gut instinct as the August 1st deadline approaches. Because the way I see it is "whatever will be, will be." Only those connected directly to the money pit know how and what will need to happen in order to cash in. It is all nothing but a big pump-and-dump on steroids! Most of us "traders" will never be privey to the good information. That is the way it always works in the money game.

Benjamin would have known what to do!

“For having lived long, I have experienced many instances of being obliged, by better information or fuller consideration, to change opinions, even on important subjects, which I once thought right but found to be otherwise.” ~ Benjamin Franklin

My Pick?

Here is the way I look at it: The Crypto game is still in it's infancy and on a scale of return, say from 1 to 100, with the popular BTC and Ether being well up over 50 on that scale compared to the low priced and prospective coins like Ripple, Nav, Steem, STR, and EOS, to name a few, are like still in the 1-10 range. These cryptos are still low on the scale of return with very little downside risk but with enormous upside potential. Invest a couple hundred dollars in CVC and if it goes to the moon, you will be standing on the surface long before the BTC crowd gets there. If you loose, you loose a couple hundred dollars. Consequently, if you invest 50,000 in 20 BTC, and it tanks, you have lost a lot of money. I say low risk, high reward... unless you are like 25 years old and have Ions to wait (no pun or pick intended).

Place Your Bets!

This retired weatherman will play the odds. I have cashed out my positions in BTC and will parlay my profits. I have been bargain hunting all week, spreading my acquisitions across the medium cap, low priced coins. In this game, time works either for you or against you and in my case, I don't have enough time on the clock to see BTC to reach $500,000 or $1 million per coin. I would like it much sooner.

I am in a good position and will see and hear from everyone on the other side. Until then, I'm heading to the beach.

Good luck!