/biz/ please help. I'm new to crypto and want to get into

Bit-coin.

>>2815947
Might as well save time and stick with one thing, long term speaking. Very helpful community too.

>>2815942
Coins are mostly gambling, the way it works is everyone is buying coins for the sole reason of profit and some people for illegal shit since it's mostly untraceable currency. The more money you invest into a coin (buying), the more the price rises, and the more money that goes outside of a coin (selling) the more the price lowers.

But it's just gambling because it's impossible to know when and where the price goes.

>>2815942
>What do I have to do to turn a profit?
Buy high sell low

>>2815981
One more thing to add:

Since the price rises when people buy and lowers when they sell it's gambling because you're basically doing it without knowing anything about the price, like, in stock market you know for a fact when people buy stock and when they don't. For example, if you invest in a building company in the same year the government decides to rises taxes on new buildings, that company will have less sales, lowering it's stock value and as soon as the taxes are lowered or people find a way to avoid the tax, the stock market for that company will not rise much, where for coins, it's 100% blind, unless you have been informed that there will be a big purchase by some sources, you see threads talking about "Whales" aka big buyers who buy like 100k+ worth of coins and ass soon as the price rises everyone goes crazy and starts buying thinking there is some magic man trying to help them out while in reality the dude lets them rise the coin's price and then bails out with a few ten grand extra, destroying the price of the coin, but if you're lucky to bail out before the guy takes out his money, you win.

>>2816095
I swear it was the other way around

>>2816190
It's a wise quote from Warren Buffet, he says you buy as soon as the price goes up and sell as soon as it starts to lower.

>>2815942
Its just another asset with the quantifiable properties. The short answer is to buy a coin or coins that, in aggregate, meet your criteria for risk allowance. sure, its crypto and news and public hype play an important role, but in the end, these metrics work pretty well. You do need a lot of data to reach a confident conclusion though, something that most coins lack. So in a sense, yea you are gambling on the fact that the data you have is a good representation of the series(doesn't matter how you use the data), which is statistically not likely. Also yea, the smaller ones are heavily manipulated(as are the big ones too), which makes a fundamental strategy less effective, coupled with the fact that fundamental facts are sometime hard to obtain, lied about, or simply kept in secret, makes this strategy less viable than it is on a regulated market(although people do it with success, its just hard to quantify the probability with certainty of things like an altcoins chance of success or failure). On the blue chip stuff though, general portfolio analysis is still useful within rational reason to reduce volatility.

>>2816107
>>2815942

This is also correct. Which is why the data we have is less valid(given the same amount) than say, a regulated currency market.
I'd say buy slowly a little bit a day, or week until you reach your goal amount. This saves you the headache of market timing, which shouldn't really matter, bar a catastrophic event, if you're looking long term. I think most people here agree that(at least given what we know now) crypto currency still has a time greater than a few years of of profitability, and hopefully much longer, it's just near impossible to forecast this industry's future. Last thing I'd recommend if you do trade a bit, is to focus on minimizing draw-down. Remember, for every 10 percent of value you lose, it take about 11.1% to get it back(lose 50%, it takes a 100% gain to recover). Bitcoin look like increasing in volatility? Slowly start buying or selling to get a good average lower, or higher price, this protects you against the volatility these coins have. I think this approach is much preferable to trying to play the daily moves, but I am just one person and other have other approaches. This is just my 2 cents on the subject, be sure to find opposing opinions to formulate a knowledge base. I'm sure some of you all disagree with what I have said. And that's Great! Multiple viewpoints are great way expand your knowledge base. Share your hypothesis's and start a discussion!

>you all seem to know what you're doing

BOOOIII are you in the wrong place bud

>>2815942
>You all seem to know what you're doing

>>2816880
>>2816894
>>2815942
yea honestly the only advice you should ever take from biz, is to never take advice from biz. this place is for memes and laughing at kids losing their part time paycheck.