iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
20,179 Blog Posts

Experimenting With Ether

When Bitcoin was around $20,000, I got sucked into the asset class in classic topping out bubble fashion. I allocated some money into a sundry of ICOs, quickly made 25%, and then proceeded to get BOGGED out for 95% of my principle over the next 12 mos. I never sold — because I suppose I was frozen out of ignorance. It wasn’t a lot of money and paled in comparison to my well performing stock portfolio, so I just adsorbed the losses.

But when I look at asset classes, such as Bitcoin and Ethereum, I must admit to being intrigued. There is a devout core shareholder base in the big cryptos. Forget about the ICOs and the fucking SHITCOINS. If you’re only interested in BTC and ETH — I believe the timing from the crash until now is really interesting for people who want to accumulate over a period of time.

I’ve given up trying to time cryptos and have instead decided to buy ETH once per month for the next 12mos.

Why?

It can serve as a valuable asset class for money launderers, plus it has the added attraction of being an alternative investment at a time when real asset prices (stocks, bonds, art, real estate) are at record highs. This trickle down effect is real and even if you’re not a fan of cryptos, you have to admit that the allure of getting in to something in the early stages is interesting. Therefore, and this goes without saying, Le Fly is going to dollar cost average for the next 11 months. My first purchase of ETH was around $235. I’ll keep you appraised of my progress.

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11 comments

  1. Fidel Cash Grow

    Some also consider $ETH a shitcoin. If you are looking for “higher quality” why not just go $BTC?

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  2. heckler

    Pretty sure that XTZ and LINK are the real ETH and that you’re setting yourself up to vastly under perform

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  3. heckler

    Also I’m not sure why you never mention solar, I think it’s because you have a deep seated inner bias against, but it makes no sense not to take a look the whole sector has been moving like TSLA and SPCE

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  4. rigged game

    And who you gonna sell that crapto to, and at what spread / commission when you are ready to dump it?

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    • heckler

      The markets are a lot tighter if you sell in and out of BTC instead of USD

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  5. metalleg

    Why ETH? Your own Peanut Gallery aficionado, Enigma aka Coinspeak, has bet the farm on BSV. If he’s right and it’s the real Bitcoin, it will outperform every other crypto by a country mile.

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    • Dr. Fly

      It’s like buying FANG. I am buying ETH because it is the second biggest and will participate in the rally if it is to be enjoyed.

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  6. jbandy

    This is literally the best stock trading environment I can remember since the 90s, and you are messing with Ether? Every day there is a sector going parabolic (today it is solar and alternative energy plays). You literally cannot lose unless you are a degenerate that tries to short. Come’on man!

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    • numbersgame

      While I agree with your basic premise (see my post below), I wouldn’t call it a “trading” environment, as that would imply large price swings in “both” directions.

      A trader thrives on volatility, not just pounding the “Buy” button until their fingers fall off.

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  7. numbersgame

    Walls Street is getting more optimistic on TSLA. Two days in a row of higher price targets by analysts. It doesn’t matter that their upgrades were still below the current price, as it is about emotion and momentum, not value. The last Piper analyst even wrote,

    “Notably, Tesla is the single fastest-growing large-cap tech stock today, and the scarcity of such a profile inevitably commands a premium, especially in this market.”

    That’s the defintion of monetum: buying it because it has risen fast.

    The upgrades are a sign that Wall Street isn’t planning on doing anything to try and pop the bubble (yet), which is the more important signal than the price targets. ***As long as the QQQs continue to make new highs,*** I think TSLA will actually breach $1000, rather than just hit it and get rejected, although I also think that it will correct in the -50% range when the bull market ends.

    NASDAQ 10,000 is a very pretty number. based on the compelte ignorance of bad news, it seems like the market really wants to get there – and probabbly will based on sheer optimism.

    However, it’s not all good news for the bulls. The bond amrket (and PMs) is still painting a markedly different picture. Normally yields would rise (bonds fall) as the amrket rises, but this sin’t happening – not even close. I think 10,000 (and the overvaluation it implies) will end the bull market, just liek 5000 ended the rally in 2000.

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