Poloniex Cryptocurrencies adventure #1 : Bitcoin D-Day on Poloniex. Short term trade or long way investment?
Like a lot of people, I heard talking about Bitcoin a long time ago, but I didn't realize the potential of this new kind of currency at that time. I didn't realize neither the potential of Cryptocurrencies or of the Blockchain.
In my mind Bitcoin was too related to the Deepweb and the DarkNet. So, for a few years I didn't looked any further into the Cryptocurrecies in general.
The French Medias focused on the darkest side of the deepweb like pedos, drugs and weapon and they still do in 2017.
Last year in 2016, a friend of mine began to initiate me to Steemit, and cryptocurrencies trading on Kraken and poloniex.
Thanks to Steemit and steemians great contributions, I learned a lot about cyptocurrencies these last months, so after a maybe to long anaylisis and observation (keep in my mind i'm French, it's already a miracle if i can barely speak english and if I know Steemit) I decided to finally begin to trade by myself and to create a poloniex account a few days ago.
I don't think it's too late to begin to invest on Bitcoin, on the contrary, the World Financial Crisis of 2007-2008 may not be over.
More and more economists think that the worst is still coming. In that perspective maybe the bitcoin will be an alternative to the gold to preserve our money from our corrupted French governement.
Remember what happened in Greece when the governement decided to directly take money from Greeks citizen private banks account....
I have bought 200 dollars in Bitcoin at first on my Blockchain.info account.
Then I have sent my Bitcoins on my Poloniex deposit adress.
And after that, I transformed them in LiteCoin and Ripple, two Cryptos i'm hoping they'll explose in the next few months.
I'm quite attentive to Monero, Etherum, Golem also. I have chose those currencies after an analysis of the different blockchain projects.
I won't trade everyday to make profits like a Wall-Street Trader, I'll invest on a long term on the cryptos that,in my opinion, can take a lot of value. I see it more like an investesment in blockchains projects I believe in, than a trading experience. My Leftist conscience is still clean.
And last but not least, it won't take too much of my precious time.
My main goal is to invest 100 dollars by month approximatively and to change it into millions in a few years ;).
I'll do a quick review of my situation and of my transactions each month. I'm willing to earn enough money to leave the regular bank system as soon as i can.
You'll be the witnesses of my future richness or fail ;). Wish me a good luck!
I will explain in a future post why even a leftist or an anarchist can buy bitcoin and remains coherent in his ideology.
Give us some tips to trade in the futur
If I increase my wallet value, I will surely do it, but if I loose all my money, i'll go fishing and keep my advices for myself!
Very wise to start out with $200 at first. I made my biggest losses (% wise) when I first started, with $100. I learned so much from my mistakes. Words of advice - if you make a loss, view it as a positive thing. You should learn why you made the loss, and be glad you learned your lesson in the beginning.
I just posted a video on my page explaining why I think Bitcoin is still going down. Be careful!
I also see it as a learning phase at the moment and that I will have to accept mistakes to improve and make better choices. Thank you for your wise advices, i'll go check your video right away.